Terms and Conditions

This is the current Terms and Conditions and was last revised on 16th January 2023.

These Terms and Conditions (the “terms”) are a legal contract between Abberton Trading Limited incorporated under the International Business Companies Act of 2016 of the Republic of Seychelles with a company number of 209738 (“Overbit”, “we” or “us”) and “you”. The Terms explain how you are permitted to use the Services provided by and the Website located at the url www.overbit.com (as well as all associated sites linked to www.overbit.com powered by Abberton Trading Limited, its subsidiaries and affiliated companies) (collectively, the “site”). Unless otherwise specified, all references to “site” include any software that Overbit provides to you that allows you to access the site from a mobile device (a “mobile application”) web platform. By accessing, viewing or downloading information from the Website and using the Service provided by Overbit you acknowledge that you have read, understand, and unconditionally agree to be bound by these Terms.

1. What We Do

Our Services are provided through the site (which may include mobile applications), which is a Bitcoin-based and Tether-based virtual trading platform that is wholly owned by Abberton Trading Limited.

2. Modifications

Overbit can change, update, or add or remove provisions of these Terms, at any time by posting the updated Terms on this Website. By using this Website after Overbit has updated the terms, you are agreeing to all the updated Terms; if you do not agree with any of the updated Terms, you must stop using the Website.

Overbit may make changes to the site or to the Services at any time, without notice. If you object to any changes to the Website or Services, your sole recourse will be to cease using them. Continued use of the Website or Services following the posting of any such changes will indicate your acknowledgment of such changes and satisfaction with the Services as so modified. We reserve the right to discontinue the Website and/or Services at any time without notice. We will not be liable to you or any third-party should we exercise our right to modify or discontinue the Website or the Services.

In addition, certain features of the Services may be subject to additional terms of use. By using such features, or any part thereof, you agree to be bound by the additional terms of use applicable to such features. In the event that any of the additional terms of use governing such area conflict with these terms, the additional terms will govern.

3. Privacy

In the course of accessing and/or using the site and the Services, we may obtain information about you or you may be required to provide certain information to us. All uses of your information will be treated in accordance with our Privacy Policy, which forms an integral part of these Terms.

If you use the Services and/or the Website, and/or if you register for an account, you are accepting our Privacy Policy, as may be amended from time to time. If you do not agree to have your information used in any of the ways described in the Privacy Policy, you must discontinue use of the Website and the Services.
Our Privacy Policy can be found here.

4. General Provisions Regarding the Use of Overbit

By using this site, you represent, acknowledge and agree:

• that you are at least 18 years of age and have the capacity to accept the Terms;
• that you are a legal owner of the funds you add to your account and that the same funds derive from a legitimate source;
• that you are aware of risks associated with using the services provided by Abberton Trading Limited in accordance with the Risk disclosure statement;
• that using Overbit does not constitute a breach of your home jurisdiction’s laws;
• that you will not be involved or initiate any form of market manipulation;
• that the information and documents you provide as part of any ID verification process are correct, genuine and up to date.

5. Restricted Jurisdictions

The following is a list of countries and territories known as Restricted Jurisdictions:

• Canada
• Crimea and Sevastopol
• Cuba
• Iran
• North Korea
• Seychelles
• Singapore
• Sudan
• Syria
• United Kingdom
• United States of America

If you are located in or a resident or a citizen of any of the restricted jurisdictions (listed above), or any other jurisdiction where the services offered by Overbit are restricted, you understand and acknowledge that you are prohibited from holding positions or entering into contracts at Overbit.

You understand and acknowledge that if it is determined that any Overbit trading participant has given false representations as to their location or place of residence, Overbit reserves the right to close any of their accounts immediately and to liquidate any open positions.

6. Access Conditions

Use of the Service may be subject to limitations, including but not limited to transaction volumes and the number of calls permitted to be made against Overbit’s application programming interface. Any such limitations will be advised.

When accessing and using the Service, you must:

• not attempt to undermine the security or integrity of Overbit’s computing systems or networks or, where the Services are hosted by a third party, that third party’s computing systems and networks;
• not use, or misuse, the Services in any way which may impair the functionality of the Services or Website, or other systems used to deliver the Services or impair the ability of any other user to use the Services or Website;
• not attempt to gain unauthorised access to the computer system on which the Website is hosted or to any materials other than those to which you have been given express permission to access;
• not transmit or input into the Website any files that may damage any other person’s computing devices or software; content that may be offensive; or material or Data in violation of any law (including Data or other material protected by copyright or trade secrets which you do not have the right to use);
• not attempt to modify, copy, adapt, reproduce, disassemble, decompile or reverse engineer any computer programs used to deliver the Services or to operate the Website except as it is strictly necessary to use either of them for normal operations.

7. AI Tools and Trading Bots

By using the AI tools and trading bots offered by Overbit:

• You acknowledge that the use of AI trading bots comes with inherent risks. You accept full responsibility and agree to assume all risks associated with the use of the AI trading bot;
• You agree to use the AI trading bot at your own risk and accept that any losses incurred in the trading process are solely your responsibility and not of the AI trading bot provider;
• You understand that AI trading bots are not infallible and may make mistakes or fail to perform as expected, and you agree that you shall not hold the AI trading bot provider responsible for any losses incurred as a result;
• You understand that past performance of the AI trading bot is no guarantee of future success and that profitability may fluctuate significantly, especially when trading on volatile markets;
• You agree to indemnify and hold harmless Overbit from any and all liability resulting from the use of the AI trading bot;
• You hereby agree to abide by all applicable laws and regulations in relation to use of the AI trading bot;
• You agree to monitor your account regularly and to immediately notify Overbit of any suspicious or unauthorized activity;
• You understand that you cannot reverse any trades made by the AI trading bot.
  

8. Registered Users

As a visitor, you can view, visit and browse through the site. You do not need to register on Overbit to simply visit and view the site, to browse and see the partial, publicly accessible information in the site. However, in order to access the Services and materials offered on and through the site, you must register on the Website for an account and create a password.

By registering as a User, you represent and warrant:

• that you have accepted the Terms; and
• that you are at least 18 years of age and have the capacity to accept the Terms;
• that you are a legal owner of the funds you add to your account with Overbit and that same funds derive from a legitimate source;
• that using Overbit services does not constitute a breach of your home jurisdictions’ law;
• that you are aware of the risks in using the services provided by Overbit as written in the Risk disclosure statement. These risks include the high volatility risk of cryptocurrency and Forex markets, the fact that you may lose all of the funds in your trading account if the market moves against you;
• that you will not be involved or initiate any form of market manipulation, including spoofing orders or otherwise;
• that the information or documents you provide as part of any ID verification process are correct, genuine and up-to-date;
• that any Bitcoin or Tether withdrawal address you provide is your own and that you have full control over this address.

Once you have created your Overbit account and provided a username and password, you are responsible for maintaining the confidentiality of your password, and you are responsible for all activities that occur using your Overbit password. You agree not to share your Overbit password, let others access or use your Overbit password or do anything else that might jeopardize the security of your Overbit password. You agree to notify Overbit if your Overbit password on this site is lost, stolen, if you are aware of any unauthorised use of your Overbit password on this site or if you know of any other breach of security in relation to this site. You are solely responsible for any and all use of your account and all activities that occur under or in connection with it.

We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our opinion you have failed to comply with any of the provisions of these Terms.

All the information that you provide when registering for an account and otherwise through the site must be accurate, complete and up to date. You may change, correct or remove any information from your account by logging into your account directly and making the desired changes. You agree not to register for an account on behalf of an individual other than yourself, or register for an account on behalf of any group or entity unless you are authorised to bind such person, group or entity to these terms. By registering another person, group or entity you hereby represent that you are authorised to do so.

From time to time, Overbit may announce competitions and campaigns where Users get rewards. You may not set up multiple accounts in order to benefit from such rewards. We have the right to terminate your multiple accounts if we believe they belong to the same individual.

9. Force Majeure

Neither party shall be responsible if the supply of the Services is delayed or prevented by circumstances outside its reasonable control including acts of god, riot, war, malicious acts of damage, fires, electricity supply failure, Government authority. If this happens we will contact you as soon as possible to let you know and we will take steps to minimise the effect of the delay or failure.

10. Disclaimer Of Warranties

ABBERTON TRADING LIMITED, FOR ITSELF AND ITS LICENSORS, MAKES NO EXPRESS, IMPLIED OR STATUTORY REPRESENTATIONS, WARRANTIES, OR GUARANTEES IN CONNECTION WITH THIS SITE, THE SERVICES, OR ANY MATERIALS RELATING TO THE QUALITY, SUITABILITY, TRUTH, ACCURACY OR COMPLETENESS OF ANY INFORMATION OR MATERIAL CONTAINED OR PRESENTED ON THIS SITE, INCLUDING WITHOUT LIMITATION THE MATERIALS. UNLESS OTHERWISE EXPLICITLY STATED, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THIS SITE, MATERIALS AND ANY INFORMATION OR MATERIAL CONTAINED OR PRESENTED ON THIS SITE IS PROVIDED TO YOU ON AN “AS IS,” “AS AVAILABLE” AND “WHERE-IS” BASIS WITH NO WARRANTY OF IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF THIRD-PARTY RIGHTS. OVERBIT DOES NOT PROVIDE ANY WARRANTIES AGAINST VIRUSES, SPYWARE OR MALWARE THAT MAY BE INSTALLED ON YOUR COMPUTER.

11. Other limitations and restrictions on the use of services

Abberton Trading Limited denies all liability for the timely operation of the Website when used within an Internet environment, where you or a third party is providing the computer equipment upon which the product depends upon for any part of its functionality.

By using this service you accept that all trade executions are final and irreversible.
By using this service you accept that Overbit reserves the right to liquidate any trades at any time regardless of the profit or loss position.

Overbit does not warrant that the service will meet your requirements; that the Service will be uninterrupted, timely, secure, or error-free; that the information provided through the Service is accurate, reliable or correct; that any defects or errors will be corrected, or that the Service will be available at any particular time or location. You assume full responsibility and risk of loss resulting from your use of the Service.

All calculations performed by Overbit trading engine and as verified by Overbit are final.

All intellectual property rights relating to all the material used on the Website including, but not limited to, design, structure, layouts, graphical images and underlying source code belongs to Abberton Trading Limited.

12. Liability

You agree to indemnify and hold harmless Overbit, its contractors, and its licensors, and their respective directors, officers, employees and agents from and against any and all claims and expenses, including attorney’s fees, arising out of your use of the Website, including but not limited to your violation of this Agreement.

13. Severability

If a court finds part of these Terms and Conditions illegal for any reason, the rest will continue in force. Each of the clauses operates separately; if any court or relevant authority decides that any clause is unlawful, the remaining clauses will remain in full force and effect.

14. Waiver

Any failure or delay by Overbit to enforce any of the Terms or to exercise any right under the Terms, shall not prevent any subsequent enforcement of such Term or obligation or be deemed a waiver of any subsequent breach.

15. Applicable law

These Terms and Conditions are governed by and constructed in accordance with the Law of the Republic of Seychelles. The International Business Companies Act 2016 is the principal legislation that governs corporates in the Republic of Seychelles.