Terms and Conditions of Use
Firebit
INTRODUCTION
These Terms and Conditions of Use ("Terms of Use") establish the terms and conditions of service governing the use of the platform ("Platform"), made available by FIREBIT DIGITAL ASSETS – SOCIEDADE PRESTADORA DE SERVIÇOS DE ATIVOS VIRTUAIS LTDA, a private legal entity registered under CNPJ No. 62.873.133/0001-20 and headquartered at Rodovia Januário Carneiro, No. 8,620, suite 1101, in the Vale do Sereno neighborhood, Nova Lima/MG, zip code 34.006-000 ("Firebit Digital Assets").
By accessing, browsing, registering, or using any service offered through the Platform, you, whether a natural person and/or legal entity using the Platform ("User"), fully agree to these Terms of Use, which explain how the service works, your rights and responsibilities, and govern the relationship with Firebit. Therefore, we ask that you carefully read these Terms of Use before using our services.
The use of the Platform is also subject to our Privacy Policy, which describes how the personal data of Users and other data subjects are processed, as well as any policies and rules applicable to the services provided by Firebit and any companies within its economic group, as applicable.
Firebit is part of the economic group of CACTUS FINANCIAL SERVICES LTDA, a limited liability company registered under CNPJ No. 62.578.460/0001-59, headquartered at Rodovia Januário Carneiro, No. 8,620, suite 1101, in the Vale do Sereno neighborhood, Nova Lima/MG, zip code 34006-000, which also includes the companies MONETH DIGITAL ASSETS – SOCIEDADE PRESTADORA DE SERVIÇOS DE ATIVOS DIGITAIS LTDA, registered under CNPJ No. 62.847.235/0001-70 and GLOBAL CRIPTO ASSETS LTDA, registered under CNPJ No. 62.949.192/0001-34 ("Cactus Financial Services").
ACKNOWLEDGMENT AND ACCEPTANCE OF THE TERMS OF USE
The User, by using or continuing to use the services of Firebit governed by these Terms of Use, declares that they are aware of and agree with these Terms of Use and undertake to comply with them in full. Accordingly, the User declares that they have read, understood, and fully accepted the content of these Terms of Use, as well as expresses their agreement and consent to the conditions established herein.
The provisions of these Terms of Use shall fully govern the relationship between the User and Firebit. If it is not possible to comply with any of the obligations set forth herein, the User's access to the Platform may be restricted or revoked.
The User, by accepting these Terms of Use, acknowledges and agrees that the Platform and the provisions herein may be modified over time, and the User is responsible for periodically checking for updates. The User will always be informed by Firebit of any significant updates and changes to the Terms of Use through appropriate means, including but not limited to the Platform and/or by email. The continued use of the services by the User constitutes their acknowledgment and acceptance of any modifications and updates to the Terms of Use.
If the User does not accept or does not agree with any provisions set forth in these Terms of Use, the User may not use or access the Platform and/or the Services.
DEFINITIONS
The highlighted terms below, used with an initial capital letter, shall have the meanings attributed below, regardless of whether they are in singular or plural form, without prejudice to other definitions found throughout this document:
"Virtual Asset": is the digital representation of value that can be traded or transferred by electronic means and used for making payments or for investment purposes, excluding national currency and foreign currencies; electronic money as defined by Law No. 12,865/2013; instruments that provide their holder with access to specified products or services or to benefits arising from such products or services, such as loyalty program points and rewards; and representations of assets whose issuance, bookkeeping, trading, or settlement is provided for by law or regulation, such as securities and financial assets;
"Fiat Currency-Referenced Virtual Asset": is the Virtual Asset backed by reserve assets created for the purpose of maintaining its value linked to the value of a reference fiat currency or to an index representative of the value of a basket of fiat currencies — as is the case with stablecoins;
"Supported Virtual Assets": are the Virtual Assets that are supported and may be traded by Users through the Platform;
"BACEN": is the Central Bank of Brazil, a special-nature autarchy created by Law No. 4,595/1964 and with autonomy established by Complementary Law No. 179/2021, responsible for, among other things, the supervision and regulation of operations and activities of companies in Virtual Assets within the national territory;
"Blockchain": is the distributed ledger technology that promotes decentralization as a security mechanism, maintaining a permanent, immutable record that is resistant to fraud or unauthorized alterations of transactions carried out;
"Digital Wallet": is the mechanism that allows access to, management of, and authorization of transactions with virtual assets in a system based on distributed ledger technology or similar, consisting of the virtual wallet owned by the User, used for storing Virtual Assets;
"Transactional Account": is the deposit account owned by the User, offered by the Partners, used to (i) deposit funds in Brazilian reais for the purpose of issuing Buy Orders for Virtual Assets through the Platform; and (ii) receive the funds in Brazilian reais from the sale of Virtual Assets;
"Registration Data": is the User's information required for registration with Firebit, which the User authorizes to be obtained through the registration process and shared with the Cactus Financial Services group, for the specific purposes of compliance with these Terms of Use;
"Firebit": is FIREBIT DIGITAL ASSETS – SOCIEDADE PRESTADORA DE SERVIÇOS DE ATIVOS VIRTUAIS LTDA, the company responsible for the operation and maintenance of the Platform and for the provision of the services covered by these Terms of Use. In this instrument, "we", "our", "ours" also refer to Firebit;
"Forks": is the operation of division or branching in the Blockchain, caused by an update to the software responsible for recording data on a given Blockchain network;
"Operations": are the buy, sell, and transfer operations of Virtual Assets carried out by the User through the Platform;
"Buy Order": is the order issued by the User for the acquisition of Virtual Assets traded on the Platform;
"Sell Order": is the order issued by the User for the sale of Virtual Assets on the Platform;
"Partner": is Cactus Financial Services and the other companies that make up such economic group, an institution authorized to operate by BACEN, responsible for offering the Transactional Account to the User;
"Platform": is the Firebit platform used for trading and transferring Virtual Assets among Users, made available through the Firebit application and at the address https://www.firebit.pro/;
"Rewards Program": is the service offered by the Platform in which the User sends part or all of their Virtual Assets to Firebit, which will lock them, preventing them from being moved by the User. These Virtual Assets will be used on a Blockchain network to help operate and protect that network. In return, those who participate in the program may receive rewards, generally paid in Virtual Assets. The terms of the Rewards Program may also be governed by other documents and contractual instruments of Firebit or its Partners;
"Protocol": is the mechanism used, primarily in Blockchain networks that operate under the Proof of Stake (PoS) model, to validate transactions and ensure the security of the network in a decentralized manner;
"Withdrawal": is the withdrawal of funds in national fiat currency from the Transactional Account by the User;
"Services": are the services provided by Firebit to Users, including (i) intermediation for the trading, buying, selling, and transferring of Virtual Assets; (ii) custody that allows storing Virtual Assets in Digital Wallets; and (iii) other functionalities made available to the User by Firebit on the Platform;
"Staking": is the process by which a natural or legal person allows their virtual assets to be locked by the Virtual Asset service provider for the purpose of participating in the validation of transactions that occur in a system based on distributed ledger technology or similar that uses proof of participation as a consensus mechanism, and may benefit from receiving a reward; and
"User": is any natural person and/or legal entity that accepts the Terms of Use and uses the Platform. In this document, the terms "you", "your", "yours" also refer to the User.
PLATFORM
Through the Platform, Firebit offers the User trading services for the purchase, sale, and transfer of Virtual Assets, as well as a custody solution that allows storing Virtual Assets in Digital Wallets, among other services related to Virtual Assets.
In addition, other companies in the Cactus Financial Services group may offer additional and complementary services to the User, including the offering of a Transactional Account, in accordance with current regulations, for the purpose of prior deposits of fiat currency for the purchase of Virtual Assets or for receiving funds from the sale of Virtual Assets through the Platform, as well as features to facilitate and ensure the security of Operations carried out on the Platform.
Firebit does not provide any services related to investment consulting or guidance, whether in Virtual Assets or any other type of asset. The execution of operations through the Platform is entirely and exclusively at the User's own responsibility and risk.
Firebit does not offer securities or financial assets whose issuance, bookkeeping, trading, or settlement is provided for by law or regulation and that are not to be confused with Virtual Assets. Supported Virtual Assets undergo prior due diligence to identify the nature of the assets.
Virtual Assets, except when otherwise provided, are exclusively owned by the User, and Firebit may hold possession of Virtual Assets in the context of providing the Services. Virtual Assets are linked to Digital Wallets, which may be accessed by the User to carry out operations related to such Virtual Assets, including but not limited to storing, receiving, sending, withdrawing, and consulting such assets.
Firebit may use the services of third parties for the operation of the Platform, including to ensure the security of the Services, and such third parties will be subject to information security rules, compliance, and conformity with applicable regulations and legislation, and Firebit will use its best efforts in the prior analysis and contracting of such third parties.
REGISTRATION
To access the Platform and Services, the User must accept the Terms of Use, the Privacy Policy, and other applicable policies under the legislation to which Firebit is subject, such as the KYC (Know Your Client) Policy and the Anti-Money Laundering and Counter-Terrorism Financing Policy. In this regard, the User must follow the rules and conditions set forth in such documents.
The User must complete their prior registration and authorize the use and processing of their Registration Data as indicated below for the purposes of initiating the relationship and using the Platform. The User may only register on the Platform if they are over 18 (eighteen) years of age or, if a minor, are duly emancipated or represented by a legal representative.
The User acknowledges and agrees that the Registration Data used for the formalization of their registration may be obtained from information previously provided to other companies in the Cactus Financial Services economic group, which the User hereby authorizes to share with Firebit, as well as from validations in public or private databases, as necessary and in accordance with applicable data protection legislation.
In the case of natural persons, Firebit will use, in a non-exhaustive manner, the following User information: full name; date of birth; Individual Taxpayer Registration number (CPF); photo identification document; full address; telephone number; email; and biometric data for proof of life and access to the Platform; and checking account or payment account data (bank, branch, and account) in the User's name.
In the case of legal entities, Firebit will use, in a non-exhaustive manner, the following User information: National Registry of Legal Entities card (CNPJ); company incorporation document with the latest amendment to the Articles of Association/Bylaws; identification of ultimate beneficial owners and corporate structure; and checking account or payment account data (bank, branch, and account) or checking account in the company's name.
The User hereby declares and warrants that all Registration Data provided in the context of their registration is true, correct, complete, and duly up to date. Any losses resulting from false, incorrect, or outdated information shall be the sole and exclusive responsibility of the User. The User also undertakes to always keep their data up to date on the Platform, and shall be responsible for any losses resulting from outdated information.
The User is aware that maintaining more than one Digital Wallet on the Platform is prohibited and that, in case of non-compliance, Firebit may cancel or suspend all Digital Wallets and linked transactions.
Without prejudice to the other provisions set forth in these Terms of Use, Firebit reserves the right, at its sole discretion, to refuse any registration request, as well as to suspend, temporarily block, or deactivate the User's registration at any time, without prior notice and without this generating any burden, fine, liability, or obligation to indemnify, in the following cases, or in the event of suspicion of their occurrence: (i) identification of false, incorrect, outdated, or incomplete information and/or documents; (ii) total or partial violation of any provision of these Terms of Use or of the legislation and other applicable rules; (iii) impossibility of verifying their identity and/or evidence of identity fraud; (iv) adoption of conduct considered, at Firebit's sole discretion, incompatible with the objectives of the Platform, with harmonious coexistence among Users, or that may, in any way, cause damage to third parties, the Platform, and/or the image and reputation of Firebit; and (v) upon request from a competent authority.
In the event of any deletion or cancellation of the User's account, and provided there is no court order or order issued by a competent administrative, supervisory, or regulatory authority to the contrary, Firebit will convert the balance in Virtual Assets held in the Digital Wallet to national fiat currency and transfer the amount to the Transactional Account or to the bank account in the User's name, as per the data registered by you on the Platform, except if the amount in Brazilian reais is less than the smallest unit of value in national currency, in which case it will not be possible to complete any transfer.
During the registration process, the User must create a login and password, being the sole and exclusive responsible party for the safekeeping, secrecy, confidentiality, use, and protection of said login and password, as well as for restricting third- party access to their devices. The User shall also bear any losses and damages resulting from improper exposure, access, and sharing of said login and password.
Firebit shall not be liable for any losses related to unauthorized access resulting from a security failure caused by the User. In the event of suspicion or knowledge that any third party has gained improper access to the login and password or improper access to the account, the User must carry out the password change procedure through the Platform.
The User is also responsible for adopting any security mechanisms related to their login and password, such as creating a strong password, using multi-factor authentication mechanisms when applicable, exercising caution in interactions with third parties, among others.
SERVICES
Through the Platform, Firebit offers a range of services so that the User may buy and sell Virtual Assets, carry out transactions using such assets, among other services related to Virtual Assets. The Supported Virtual Assets will be indicated on the Platform and, if a Virtual Asset is discontinued or becomes unavailable, Firebit will inform the User on the Platform.
The User may use the Services to (i) store their Virtual Assets in the Digital Wallet and funds in Brazilian reais in a Transactional Account in their name offered in partnership with a company of the Cactus Financial Services group; (ii) issue Buy Orders, Sell Orders, and/or transfer Virtual Assets from their Digital Wallet to third parties, including with Firebit itself as counterparty in such operations, within and outside the Platform, including to residents outside Brazil; (iii) receive in their Digital Wallet Virtual Assets from Buy Orders; (iv) receive in their Transactional Account the funds in Brazilian reais from Sell Orders; (v) request the withdrawal of such funds from their Transactional Account; and (vi) other functionalities established on the Platform, including but not limited to Staking.
For the proper provision of the services described above and presented throughout these Terms of Use, Firebit may also perform the following activities: (i) subscription, individually or in consortium, and issuances of Virtual Assets; (ii) buying, selling, and/or exchanging Virtual Assets, on its own behalf or on behalf of third parties; (iii) acting as a liquidity provider; (iv) managing Virtual Asset wallets; (v) performing fiduciary agent functions; (vi) performing other financial service provider functions in DLT systems; (vii) conducting operations with Virtual Assets in the foreign exchange market; (viii) performing other activities expressly authorized by BACEN; (ix) the custody and control of Virtual Assets, on behalf of the User, as well as the instruments that affect the exercise of ownership; (x) the description of Virtual Asset positions, as well as the reconciliation of such positions with the information available in DLT systems; (xi) the processing of movement instructions issued by Users, as well as the preservation of such instructions; (xii) the treatment of events affecting Virtual Assets, as well as the creation and extinction of liens and encumbrances on Virtual Assets; and (xiii) the management of information relevant to the exercise of any activities within the scope of these Terms of Use.
DIGITAL WALLET
The Digital Wallet owned by the User will be automatically created after registration on the Platform, and their Virtual Assets will be stored in it. The Digital Wallet may be accessed and operated using the login and password credentials created at the time of registration. The User acknowledges and expressly agrees that, by entering their login and password on the Platform to access the Digital Wallet, this constitutes a legitimate and sufficient means to verify their identity, as well as to validate their expression of will in contracting and using the Services.
Firebit may establish transactional limits linked to the Digital Wallet, limiting the number of Operations that may be performed with Virtual Assets on the Platform by the User. Firebit reserves the right to change any transactional limit linked to the User's Digital Wallet at any time, at its sole discretion. It may also be possible to request a change to your limits. Any change will be made at Firebit's discretion and will be subject to any other necessary conditions.
Firebit will comply with all instructions from the User or their representatives regarding the movement of Virtual Assets stored in the Digital Wallet, except for instructions that are in non-compliance with the provisions established by these Terms of Use and/or that are contrary to the legislation and regulations in force, keeping all instructions on record.
Firebit has computer systems for the analysis of Operations involving Virtual Assets, and may analyze the senders of funds to the User's Digital Wallet provided by the Platform and the recipients of Virtual Assets. Thus, if there is any indication of elevated risk in transactions, Firebit reserves the right to carry out blocks, chargebacks, and to close the User's Digital Wallet in the event of receiving and sending assets that are of illicit origin and for illicit purposes.
OPERATIONS
Through the Platform, the User may carry out certain Operations, which consist of issuing Buy Orders and Sell Orders for Virtual Assets traded on the Platform, as well as transferring Virtual Assets stored in their Digital Wallet.
To acquire Virtual Assets traded on the Platform, the User must issue a Buy Order, which will necessarily be matched with a corresponding Sell Order from another User on the Platform or from Firebit itself, acting as counterparty in the operation. In order to issue a Buy Order, the User must have the equivalent value available in their Transactional Account. To sell or exchange Virtual Assets, the User must maintain a sufficient balance in the form of Virtual Assets to cover the offer they intend to make.
The acquired Virtual Assets will be available in the User's Digital Wallet after the validation process of the network to which the asset is linked. Accordingly, the User is aware that the availability of Virtual Assets in the Digital Wallet may not occur immediately.
To sell Virtual Assets on the Platform, the User must issue a Sell Order for the Virtual Assets duly stored in their Digital Wallet. This Sell Order will be published on the Platform and will remain available until it is matched with a Buy Order from another User or from Firebit itself, acting as counterparty in the operation, or until it is canceled by the User before execution.
Firebit reserves the right to set minimum and maximum values for Operations, which will be informed on the Platform before the User confirms the operation. The responsibility for issuing Buy Orders and/or Sell Orders on the Platform lies exclusively with the User, who must pay attention to the type of Virtual Asset being traded and the values required for the execution of the purchase.
The execution of Operations may be delayed or not occur due to incorrect or insufficient data, network failures or devices outside Firebit, acts of God or force majeure, as well as errors or inconsistencies during the process of purchasing Virtual Assets by Users. In such cases and in other situations of a similar or equivalent nature, Firebit shall not be held liable.
The execution of Buy Orders and Sell Orders may occur in full or in part, depending on available liquidity and the Platform's operational rules. In the event of partial execution, the unexecuted portion will be canceled or will remain pending depending on the order type chosen by the User (when applicable), and the User will be informed on the Platform. If the Order is not fully executed, any difference in amounts blocked in fiat currency for execution will be released to the User in the Transactional Account, in accordance with the Partner's rules and operational deadlines informed on the Platform. The User acknowledges that there may be variations between the displayed reference price and the effective execution price, especially in scenarios of volatility, low liquidity, network congestion, or validation delays, as previously informed on the Platform.
The User declares that they are aware and in full agreement that the issuance of a Buy Order and/or Sell Order constitutes a valid and effective proposal for all legal purposes. Once accepted by another user or by Firebit, the buy and/or sell transaction of Virtual Assets will be automatically completed and may not be canceled or modified. The User also undertakes to bear any expenses and losses caused to the User or Firebit upon acceptance of the transaction, in the event of unjustified withdrawal or non-compliance with their obligations.
The User declares that they are aware and in full agreement that, between the issuance of the Buy Order and the Sell Order and their effective execution, variations (positive or negative) in the reference values of Virtual Assets may occur due to their high volatility. Such variations are entirely the User's responsibility and may result in differences in the final values and/or in the quantity of Virtual Assets acquired or sold compared to their initial expectation. By accepting these Terms of Use, the User exempts Firebit from any liability or challenge related to such variations.
Firebit does not own and does not control the protocols and networks related to Virtual Assets, given their open and decentralized nature, such as Blockchain. Therefore, we do not guarantee their functionality, security, or availability, nor do we assume responsibility for their operation, maintenance, or development. Forks may create parallel networks and alter the value, function, or name of Virtual Assets.
If the User's registration is outdated, Firebit reserves the right to refuse, cancel orders, and not execute Operations, being exempt from any liability in such cases.
TRANSACTIONAL ACCOUNT
Firebit, through partnerships with Partners, will offer the User a deposit account that allows (i) depositing funds in Brazilian reais for the purpose of issuing Buy Orders for Virtual Assets through the Platform; and (ii) receiving the funds in Brazilian reais from Sell Orders of Virtual Assets.
The funds held in the Transactional Account are custodied by the Partner and may be withdrawn by the User at any time through a transfer to a checking account or payment account in the User's name or in the name of third parties.
The deposit of Brazilian reais in the Transactional Account may be made by the User through the payment solutions made available by the Partner in the Transactional Account, including but not limited to PIX and Electronic Funds Transfer (TED). It is not permitted to deposit funds through the receipt of Brazilian reais from a checking or payment account owned by someone other than the holder of the Transactional Account.
WITHDRAWAL
The User may request the withdrawal of their fiat currencies stored in the Transactional Account, provided there is a sufficient balance in the account. The withdrawal of funds may be made through the payment solutions available in the Transactional Account, including PIX and TED.
After receipt of the Withdrawal request, the User's Transactional Account balance will be reduced and the funds will be sent to the recipient's checking or payment account provided by the User, except in cases of inconsistency and/or errors in the recipient's banking data, in which case the amounts will be returned to the User's Transactional Account balance.
Withdrawal requests that are not in compliance with these Terms of Use and with applicable legislation and regulations will not be processed. In addition, Firebit may suspend Withdrawals to resolve any incidents on the Platform or at its discretion, duly justified, resuming Withdrawal services as soon as the incident or cause is resolved.
SUPPORTED VIRTUAL ASSETS
The Services offered by the Platform are available only for Supported Virtual Assets, the list of which is published and periodically updated on our website at the link https://www.firebit.pro/ and on the Platform itself. Firebit may, at its discretion, change the list of Supported Virtual Assets without prior notice to the User, and it is the User's responsibility to periodically consult said list.
Firebit may remove or suspend certain Virtual Assets from the list of Supported Virtual Assets. In such cases, the necessary efforts will be made to notify the User in advance. After removal, such Virtual Assets will no longer be accessible on the Platform, with only their transfer from the User's Digital Wallet being permitted.
If removed Virtual Assets remain in the User's Digital Wallet after the previously informed deadline, Firebit may, at its discretion, convert them into another Supported Virtual Asset, such as a stablecoin. Before the conversion, the User will be duly notified and will have the opportunity to withdraw the affected Virtual Assets within a reasonable period, as stipulated in said notification.
The User acknowledges and agrees that attempting to deposit, transfer, trade, or in any way interact on the Platform with unsupported Virtual Assets may result in partial or total loss of such assets, without any liability on the part of the Platform.
The Platform is not responsible for any damages, losses, or harm resulting from attempted transactions with unsupported Virtual Assets. It is exclusively the User's responsibility to verify the list of Supported Virtual Assets before carrying out any operation.
The User acknowledges and accepts that, unless expressly stated otherwise by Firebit, the Platform does not support: (i) meta coins, colored coins, side chains, derivatives, new protocols, Virtual Assets originating from processes known as Forks, or any other forms of digital representation of value that are not expressly listed as Supported Virtual Assets by Firebit.
Firebit may temporarily suspend any Services related to a given Virtual Asset while evaluating the feasibility of supporting or not supporting a Fork. We have no obligation to support Forks or any Virtual Asset that may be generated as a result of such an event, regardless of its market dominance. If it is decided to offer support for a Fork, this decision will be publicly communicated through our website or other appropriate channels.
REWARDS PROGRAM
Through the Platform, the User may engage the services of Firebit so that Firebit, acting as the User's agent, receives a certain amount of Virtual Assets and links them to Staking protocols, with the aim of generating financial returns through the Rewards Program.
By engaging the Firebit Rewards Program service, the User declares that they are aware that:
- The Virtual Assets transferred to Firebit for linking to the Staking protocol will no longer appear in their Digital Wallet, and a prior request for return or the end of the Rewards Program period is required for the User to be able to use them again. A return request may result in the loss of accumulated gains up to that point, if the minimum period stipulated for the operation has not been reached;
- Any return estimates presented on the Platform are merely indicative and do not constitute a guarantee of profitability, and may be changed at any time. The costs and fees applicable to the operation of the Rewards Program service will apply to the gains actually obtained;
- Firebit may unilaterally cancel, without prior notice, the provision of the Rewards Program services. In such case, the User will receive any gains accumulated up to the moment immediately prior to the cancellation;
- Virtual Assets are subject to high volatility, which may result in asset losses; and
- Firebit has no control over the market, nor over any issues that may arise, and cannot be held liable for losses resulting from such situations. Likewise, Firebit has no control over the Staking protocols used or over any third parties involved in the operation, and cannot guarantee the fulfillment of all obligations related to the Rewards Program service.
The User may select different service modalities of the Rewards Program, each with specific conditions, terms, and Virtual Assets. Before engaging any modality, it is up to the User to carefully analyze all available information, understand the characteristics and risks of the investment, and, if in agreement, proceed to deposit the Virtual Assets in the desired option.
For the provision of the Rewards Program services, Firebit will charge the corresponding fees, as established in the specific conditions of each modality. At the end of the contracted period, the amounts obtained, minus the fees owed to Firebit, will be added to the User's balance, and the Virtual Assets initially transferred will be returned to the User.
If the User chooses to request the return of Virtual Assets before the deadline set for the completion of the Rewards Program, Firebit will arrange the return in a timely manner, and the User may lose any accumulated gains, at Firebit's sole discretion.
RULES OF USE AND RESPONSIBILITIES
The Platform may only be used for lawful purposes and in connection with the purpose for which it is intended. Therefore, the User declares that they will not use the Platform for any unlawful purposes and/or in violation of any documents to which the User may be subject, and must, under any circumstances, comply with the legislation and regulations in force at the time of use.
In the event of suspected fraud, Firebit may suspend the User's registration at any time, without any amount being owed as a result. The User undertakes to immediately notify Firebit of any unauthorized use of their data or registration.
The User is aware that accessing the Platform through public and unprotected internet networks poses risks to the information and/or data stored on their mobile device. Accordingly, the User declares that they are aware that they must ensure the reliability of the networks through which they access the Platform, and any damages arising from the use of the application through access to public networks considered insecure shall be their sole and exclusive responsibility, since Firebit has no control over the security measures adopted by such network providers.
Furthermore, the User is responsible for ensuring the security of any devices used to access the Platform, which includes, among other things, keeping the operating system up to date, using antivirus tools, and not making modifications or alterations to devices that may compromise the reliability and security of the systems. Firebit has no control over the device and the security measures adopted on such devices by the User.
Any and all Operations with Virtual Assets must be carried out by the User who is the holder of the Digital Wallet, and the User undertakes to use the Platform for legal purposes, in strict compliance with Brazilian legislation, in particular (but not limited to) the laws governing practices involving money laundering, financing of activities linked to criminal organizations, terrorism, mafia, drug trafficking, trafficking of persons and/or human organs, and any other illicit activities.
Firebit is committed to using its best efforts to keep the Platform's Services active for as long as possible. However, it has no obligation of performance, stability, continuity, or any duty to perpetuate this service permanently.
The User is aware that failures or errors may occur during the use of the Platform, arising from factors beyond Firebit's control, such as internet service failures, intermittencies in the systems necessary for the Platform's operation, and others, and Firebit is exempt from any liability for non-performance or loss resulting from such errors or failures.
Firebit will use its best efforts to provide quality services. However, Firebit does not offer warranties of any kind, express or implied, including but not limited to warranties of satisfactory quality, merchantability, fitness for a particular purpose, or non-infringement of third-party rights. Firebit also does not guarantee that the services offered are free from malware or any other harmful components.
Firebit makes no representations, nor does it ensure, endorse, warrant, or assume responsibility for third-party applications (or their content), nor for any public protocols related to Virtual Assets. The User acknowledges and agrees that Firebit is not responsible for any Virtual Asset. As with any purchase of a product or service, regardless of the medium or environment, it is up to the User to exercise their own judgment and act with caution whenever necessary.
By using the Services, the User acknowledges and agrees that buy and sell transactions of crypto-assets are conducted at their own account and risk. Firebit acts exclusively as the provider and maintainer of the Platform, facilitating transactions among Users. Under no circumstances shall Firebit be held liable for any losses, damages, harm, or lost profits arising from buy and sell transactions carried out, or not, through the Platform. In addition, the User assumes the responsibility to verify whether the Firebit Platform supports the Virtual Asset being traded and the network to which it will be sent, before carrying out the transaction. In the event of an error by the User, the asset will be irreversibly lost without the possibility of recovery.
The User acknowledges and agrees that the value of Virtual Assets may fluctuate significantly and there is a risk of economic loss when buying, selling, and/or holding such assets. Therefore, the User should consider whether trading or holding Virtual Assets is appropriate according to their economic conditions.
It is the User's responsibility to determine whether any investment, investment strategy, or related transaction is appropriate according to their own investment objectives, financial circumstances, and risk tolerance. The User declares that they are the sole and exclusive responsible party for any loss and assumes full responsibility for any loss. Firebit is not responsible for the decisions the User makes to buy, earn, sell, or hold Virtual Assets based on the information provided on the Platform, including any losses resulting from such decisions.
If the User sends an unsupported Virtual Asset or uses a network not compatible with Firebit, the company may, at its sole discretion, assess the possibility of recovering the assets. However, even if recovery is technically feasible, the User acknowledges that the full amount sent may not be returned. Any applicable operational fees and charges will be deducted from the recovered amount, as the case may be.
The User is exclusively responsible for all tax obligations arising from Operations, including the purchase, sale, exchange, transfer, or receipt of Virtual Assets. If Firebit is required to pay taxes that are the User's responsibility, the User must reimburse the amount expended. Firebit shall not be held liable for losses or damages in the event the User fails to comply with their respective tax obligations.
Firebit may, at its sole discretion, at any time and without prior notice:
- Terminate, modify, or suspend, in whole or in part, the User's access to the Platform, when the conditions established in these Terms of Use, in the Privacy Policy, or in any regulations and documents governing the provision of Services and compliance with legislation by Firebit are violated;
- Delete, in whole or in part, information registered by the User that is not in accordance with the provisions of these Terms of Use;
- Add, delete, or modify the content of these Terms of Use; and
- Terminate the Services, provided that notice is given with a minimum advance of 30 (thirty) days, so that the User has sufficient time to transfer their funds to another institution, it being understood that no indemnification shall be due.
Firebit may, at its sole discretion, suspend, modify, or terminate the activities of the Platform, with prior notice, except in cases of acts by competent authorities, acts of God, or force majeure.
FEES
Firebit may charge specific fees for the provision of Services. Accordingly, intermediation, sending, transfer, and exchange operations of Virtual Assets may also be subject to fees.
The User declares that they are aware that the payment of any fees will be made at the time of execution of the Operation, after its confirmation. Before confirming the Operation, the User must check the fees informed on the Platform.
If an Operation is canceled after being confirmed or has been erroneously confirmed due to User error, the fee corresponding to the execution of the Operation may still be charged by Firebit.
For the offering of new Services, Firebit may establish specific compensation for each of them, which will be previously informed to the User.
Firebit reserves the right to change fee amounts without prior notification to the User regarding such changes.
The fees charged by Firebit for the provision of Services are available for the User to consult on its official website, which can be accessed at the link https://www.firebit.pro/.
SECURITY MEASURES
Firebit is committed to adopting security measures appropriate to the nature of its activities. However, the User acknowledges that no system is completely free from vulnerabilities. Thus, Firebit shall not be held liable for security breaches arising from acts of third parties, risks inherent to Virtual Assets, failures in electrical power or telecommunications services, natural disasters, acts of God, or force majeure events.
Firebit shall also not be liable for any damages, harm, or losses arising from negligence, imprudence, malpractice, or improper use of the Platform by the User.
The User acknowledges that any approaches purportedly made by Firebit, by any means, should be ignored or rejected whenever there has been no initial contact by the User themselves, especially when they involve: (i) requests for provision, confirmation, verification, or updating of personal data; or (ii) requests for digital identity, security components, or sensitive data.
The notices, security alerts, and guidance made available on the Platform should be read carefully, in order to provide a safer experience and assist in preventing potential operational failures.
The User declares that they are aware of and agree to submit to the identity validation and security mechanisms adopted by Firebit, which may include, but are not limited to, biometric verification and authentication, security questionnaires, among others.
If the User suspects a security breach under the terms of this clause, the User must ensure that: (i) Firebit is immediately notified through official communication channels and continues to receive accurate and up-to-date information during the security breach; (ii) their Digital Account is blocked through the disabling function on the Platform or by any other methods determined by Firebit; and (iii) they have taken any other measures that Firebit may reasonably require to reduce, manage, or report any security breach.
The User is responsible for taking appropriate measures to protect their hardware and data against viruses and malicious software and any improper material. Except as provided by applicable legislation or regulation, the User is responsible for backing up and maintaining copies of any information stored or transferred through the Services provided by Firebit. Firebit is not responsible for any claims or losses resulting from non-compliance with such obligations.
RISKS OF OPERATIONS AND LIMITATION OF LIABILITY
Operations carried out with Virtual Assets through the Platform involve a series of specific risks inherent to the crypto-asset market. The User declares that they are aware that, notwithstanding the risk management measures adopted by Firebit, they may incur significant financial losses arising from these risks, which include but are not limited to: (i) high volatility of Virtual Assets; (ii) variations in factors that impact prices; (iii) failures in the protocols responsible for the creation, issuance, transmission, and storage of Virtual Assets; (iv) restricted use of Virtual Assets in retail commerce and other markets; (v) scalability limitations of Virtual Assets, which may result in high fees or slow transaction settlement; (vi) vulnerabilities in the source code or cryptography underlying a given Virtual Asset; (vii) network compromise by malicious agents or botnets; (viii) lack of consolidated history of certain Virtual Assets; (ix) regulatory changes and impacts; (x) risks associated with third-party asset custody; (xi) irreversibility of transactions carried out; (xii) occurrence of forks; (xiii) economic risks related to Forks; (xiv) dependence on internet infrastructure; (xv) risks arising from supply and demand fluctuations; and (xvi) counterparty risks.
The User is aware that ownership of a Virtual Asset is not a guarantee of conversion to fiat currency.
Firebit does not own nor exercise control over the protocols and networks governing the Supported Virtual Assets on the Platform, including but not limited to the blockchains on which the Virtual Assets and respective transactions are recorded. In general, these Virtual Assets have open source code, which allows anyone to use, copy, modify, and distribute the source code underlying the respective Virtual Asset. It should be noted, however, that despite being open, the main protocols have governance and risk mitigation mechanisms that govern the implementation of changes to their codes. These changes typically require signaling of support from various protocol stakeholders, such as miners, nodes, wallets, Virtual Asset exchanges, developers, among others. In any case, Firebit is not responsible for exchanges, wallets, nor for the operation, maintenance, or development of these protocols and networks, and cannot guarantee their functionality, security, or availability.
The Virtual Assets available on the Platform are subject to price fluctuations based on market reactions to economic and political news, both in Brazil and abroad. Asset price variations may also occur due to changes in market participant expectations, and changes in asset price behavior patterns may even occur without significant changes in the national and international economic and/or political context.
Firebit, as well as its officers, shareholders, controllers, employees, agents, directors, subsidiaries, commonly controlled entities, affiliates, entities of the same economic group, successors, assignees, suppliers, and licensors, shall in no event be liable for indirect, special, incidental, punitive, exemplary, or consequential damages. This limitation applies to any losses arising from the improper use or inability to use the Services or the content of third-party applications, regardless of the legal basis, even if Firebit has been warned of the possibility of such damages or if any remedy has failed to achieve its essential purpose.
Firebit shall not be liable for (i) any errors and/or inconsistencies in network data transmission, as well as those related to the quality or availability of the internet connection capable of preventing adequate receipt of information by the User; (ii) outdated, incomplete, and/or untruthful data eventually presented through the Platform; and (iii) any devaluation that may occur in any Operation carried out by the User, as well as any loss suffered for that reason.
Firebit is not responsible for any losses, including loss of opportunity, material or immaterial damages, direct or indirect, harm, lost profits, indemnifications, and/or reparations of any nature, that may be incurred by the User as a result of: (i) any Operation carried out through the Platform; (ii) financial results arising from such Operations; (iii) technical and/or operational failures or unavailability on the Platform, including those arising from services provided by third parties and/or from the protocols and network structures governing Virtual Assets, which may result in, by way of example, the non-completion of Operations, changes in Virtual Asset quotations, delays in the processing and execution of Buy and/or Sell Orders, as well as possible mismatches between the execution and cancellation of such orders; (iv) results arising from any external influence or from the installation on their equipment of malicious software, such as viruses, trojans, malware, worms, bots, backdoors, spyware, rootkits, or any other similar devices that may arise from the use of the Platform; (v) any problems arising from the Platform's interface with other software, whether third-party or owned/used by the User; and (vi) events characterized, under applicable legislation, as acts of God or force majeure.
Firebit is not responsible for the use of the Platform in violation of these Terms of Use, nor for any damages or harm of any nature arising from access by unauthorized third parties to data made available through the Platform. The User further declares that: (i) they have sufficient financial resources, in Brazilian reais or Virtual Assets, to bear the risks inherent to Operations involving Virtual Assets; and (ii) each Buy Order or Sell Order sent through the Platform constitutes a firm offer to buy or sell, as applicable, in accordance with applicable legislation, with the characteristics of the respective Virtual Asset and the price indicated in the corresponding order, and such operation will be automatically executed by the Platform and may not be canceled or modified.
INDEMNIFICATION
The User agrees to defend, indemnify, and hold harmless Firebit, its officers, shareholders, controllers, employees, agents, directors, subsidiaries, commonly controlled entities, affiliates, entities of the economic group, successors, assignees, suppliers, or licensors, from and against any charges, actions, or claims, including, by way of example, attorney's fees, resulting from: (i) any improper use of the Platform; (ii) violation of the conditions agreed herein and these Terms of Use; (iii) any activity in which the User participates or through the Services; and (iv) their violation of any law or the rights of a third party.
INTELLECTUAL PROPERTY
Through these Terms of Use, Firebit grants the User a license to use the Platform, of a personal, limited, temporary, revocable, non-transferable, and non-exclusive nature, valid for as long as the registration remains active. This license is granted free of charge and exclusively for the purposes set forth in this document.
The User is prohibited from using or allowing the use of the Platform for any purpose other than those expressly authorized in these Terms of Use. Accordingly, the User is not permitted to copy, modify, distribute, sell, rent, share, assign, or in any way dispose of the Services made available by Firebit through the Platform and/or to violate, directly or indirectly, the intellectual property rights of Firebit and the other companies that make up its economic group.
The ownership of the intellectual property of the Platform and all content available therein, including any confidential information, belongs and shall continue to belong exclusively to Firebit and/or the companies of its economic group.
All rights, titles, and interests related to the Platform, including intellectual property rights over any information contained therein, transmitted by it, to it, or about it, as well as information arising from its use, shall remain under the exclusive ownership of Firebit and/or its licensors. No provision of these Terms of Use or of the Platform may be construed as the granting of any license or assignment, in any capacity, of such rights to the User, unless expressly provided for in this document.
Without prejudice to the rights guaranteed by law to Firebit, if the User develops a new module, functionality, or product that, in whole or in part, represents a reproduction of the Platform, its data dictionary, or its source code, such development shall be considered an extension of the Platform itself. In such event, the ownership of the product shall be automatically incorporated into Firebit's assets, and its use shall be subject to compliance with these Terms of Use and other applicable Firebit regulations.
As the exclusive holder of intellectual property rights over the Platform's database, Firebit may freely use it for the purpose of offering benefits to Users and developing solutions that, at its discretion, meet their needs.
Non-compliance with this clause may result in suspension and/or termination of the Services, as well as the application of applicable judicial and extrajudicial measures, without prejudice to losses and damages sustained by Firebit.
PRIVACY AND PERSONAL DATA PROTECTION
All personal data provided by you for registration, as well as data related to Operations, are stored in a secure environment and in compliance with Firebit's Privacy Policy, the provisions of which form an integral part of these Terms of Use.
The User declares that they are aware that the processing of their personal data will occur in accordance with the needs of the Services and in accordance with Firebit's Privacy Policy, and with Firebit's privacy and personal data protection practices.
TERMINATION AND CLOSURE OF REGISTRATION AND SERVICE PROVISION
The User may, at any time, terminate their relationship with Firebit by requesting the deletion of their registration. Likewise, Firebit may unilaterally terminate the relationship with the User.
For the purpose of closing the registration and, consequently, the Digital Wallet and the Transactional Account, the User must ensure that there are no Virtual Assets recorded in their Digital Wallet and/or funds in Brazilian reais in their Transactional Account, and the User is responsible for carrying out the appropriate sales or transfers of Virtual Assets and any Withdrawals of funds.
In the event of suspension and/or closure of the registration, Firebit may transfer on the User's behalf all funds held in the Transactional Account to the account in the User's name provided at the time of registration.
Considering the nature of Virtual Assets, they cannot be directly transferred to a checking or payment account. To enable the transfer of funds, it will be necessary to convert the Virtual Assets through a buy and sell operation on the Platform.
In the event of suspension and/or closure of the Registration, at the initiative of either party, the User will have a period of 30 (thirty) days to indicate another platform or Virtual Asset wallet to which they wish to transfer their assets. If the necessary information is not provided within this period, Firebit may proceed with the sale of the Virtual Assets on behalf of and for the benefit of the User, using the prevailing price on the Platform at the time of sale, and transfer the funds in Brazilian reais, resulting from the conversion, to the checking or payment account provided in the Registration.
The User hereby authorizes Firebit to: (i) transfer on behalf of and for the benefit of the User the funds held in the Transactional Account, pursuant to the clause above; and (ii) carry out the sale of Virtual Assets deposited in their Digital Wallet, followed by the transfer of the funds in Brazilian reais resulting from such sale to the account registered by the User.
After the suspension or closure of the Registration, the User acknowledges that they may have limited access to certain functionalities. Without prejudice to legal and regulatory obligations, Firebit will maintain, for the minimum period required by applicable legislation and, in the absence of a specific legal deadline, for a reasonable period, the records necessary for: (i) proof of Operations; (ii) auditing; (iii) fraud prevention and security; (iv) handling complaints, User requests, and orders from competent authorities. The User may request, through official channels, statements and receipts for Operations carried out, subject to legal, technical, and security limitations, and possible charging of a reasonable administrative fee, when applicable and previously informed.
In the event of any court order or order issued by a competent administrative, supervisory, or regulatory authority applicable to the Platform and the User, Firebit reserves the right to adopt practices different from those described in this clause.
GENERAL PROVISIONS
These Terms of Use shall remain in effect for an indefinite period, from the User's acceptance, binding you and Firebit, including heirs and successors, and the User is aware that Firebit may make changes to these Terms of Use at any time.
If applicable, Firebit will notify the User by electronic notification, or through another means that enables the achievement of such purpose, informing of the existence of the modification and making it available to the User, and it is up to the User to examine it and learn about the new conditions that may be proposed. The User's silence regarding the modifications and the continued use of the Platform shall be understood as acceptance of the new conditions. For changes that imply an additional financial burden, a significant restriction of rights, or a significant expansion of responsibilities, Firebit may require express acceptance on the Platform.
However, any change made for legal reasons or due to new functionalities of a service will take effect immediately. You declare that you are responsible for consulting these Terms of Use from time to time to verify whether you agree with the modifications made. If you do not agree with the changes made by Firebit, you may immediately request the cancellation of this service. Any messages sent by Firebit, whether by email, push notification, messaging application, or SMS and application journey screens, shall form part of these Terms of Use.
If any provision of these Terms of Use is deemed illegal, null, or unenforceable by a competent authority, the remaining provisions shall remain valid and applicable to the fullest extent permitted by law.
By accepting the Terms of Use, the User acknowledges and authorizes Firebit to, for its own benefit, use the financial resources and/or Virtual Assets owned by the User for floating or equivalent structure purposes, without prejudice to the availability of the amounts shown in their Transactional Account and Digital Wallet, which shall remain preserved and accessible at all times.
Any financial returns arising from transitory and operational balances linked to the settlement infrastructure and the provision of Services ("floating") may be appropriated by Firebit only to the extent that: (i) they do not imply reduction, undue unavailability, or impairment of the User's balance displayed on the Platform; (ii) they comply with applicable legislation and regulations; and (iii) they do not contravene the rules of the Partner responsible for the Transactional Account.
Firebit's eventual tolerance in requiring compliance with any obligation set forth in these Terms of Use, in the Privacy Policy, or in applicable legislation and regulations, shall not constitute a waiver of right, prerogative, or privilege. If there is any amount due, Firebit may charge the full amount due at any time.
This instrument and any related documents may be signed electronically, pursuant to Article 10, Paragraph 2, of Provisional Measure No. 2,200-2, of August 24, 2001, and its subsequent amendments.
The User acknowledges and agrees that the Firebit Platform is under constant development, may contain incomplete functionalities, errors, or inaccuracies, and that access may be modified, limited, or interrupted at any time, without prior notice and without liability for Firebit.
Firebit may share your personal data with certain bodies, such as BACEN, the Brazilian Federal Revenue Service, and the Financial Activities Control Council (COAF), for the purposes of compliance with legal and regulatory obligations.
Firebit may, when applicable, disclose on its official channels governance information and controls related to the segregation and protection of User assets, in accordance with market standards and legal/regulatory requirements.
The User understands that certain information regarding the Platform may not be available or may be subject to changes, including but not limited to hardware requirements, disclaimers, and functionalities. The User agrees to use the Platform under these conditions and agrees to automatically adhere to future versions of the Firebit Platform, without the need for new consent or notification.
The User acknowledges that they will not receive any compensation for evaluating or providing information about the Platform, and shall be responsible for all costs associated with its use (such as mobile carrier costs, mobile data, and other related costs).
The User must immediately notify Firebit of any improper use, misappropriation, or unauthorized disclosure of confidential information that comes to their attention, including all information exchanged or made available by the parties, tangible or intangible, relating to the Platform, technologies, patents, trade secrets, know-how, processes, algorithms, products and services, research, financial data, marketing strategies, client and supplier lists, technical documents, commercial information, and all other information that, by its nature, should be considered confidential, regardless of whether it is expressly identified as such.
The User declares that all information provided during registration and at the time of registration and activation on the Platform is truthful, especially that concerning the countries in which you hold tax residency, in addition to Brazil. The User shall keep Firebit informed at all times of any changes to their Registration Data, within a period of 10 (ten) days from said change, including in the event of obtaining citizenship in other countries. Furthermore, Firebit may, at its discretion, request the update of your data whenever it deems necessary or when applicable current legislation so requires. Firebit may temporarily block the User's registration if it determines that the obligations set forth in this clause have not been fulfilled.
The User declares and warrants that they wish to receive advertisements, publications, and marketing campaigns from the Cactus Financial Services economic group, acknowledging that, at any time, they may change their marketing preferences through the Firebit Privacy Center or through customer service channels.
These Terms of Use shall be construed exclusively in accordance with the laws of Brazil.
The courts of the District of Nova Lima/MG are hereby elected to settle any disputes arising from these Terms of Use, and Firebit may opt for the courts of the User's domicile.
Contact channels
For questions, inquiries, suggestions, and/or complaints, the customer may contact the customer service center through the chat on the Platform or the Firebit website, by phone at 0000-0000 for state capitals and metropolitan areas and 0000-0000 for other regions.
If you wish to submit complaints, reports, or suggestions for improvement, the User should preferably use Firebit's official communication channels.