Welcome to BitSpotMe!
What is BitSpotme?
By using BitSpotMe you agree and acknowledge that you have read and understood this information on this page / our terms.
We reserver the right to make changes to these terms. If we make a large change then we will notify all account holders and issue a statement on the website as well as our social channels. We are transparant and any updates to our policies will be made clear. We will also be availabel to answer any questions regarding our terms of service.
BitSpotMe Account Creation
You must be at least 18 years old to create a BitSpotMe account. You are responsible for setting up your account and the content of your profile.
When you register for an account you must provide us with accurate information. This includes your full name, email address and location. You will need to verify your email address by clicking on the link that we send you, this will activate your BitSpotMe account.
Required Details for a Campaign with BitSpotMe (including AML and KYC)
Once you have created your account, you can then choose to create one or more campaigns. Please make sure that you carefully consider the details that you include in your campaign, so that the description is accurate and covers the nature of your campaign and the way that you will use the funds raised.
We will manually check each campaign before it goes live, to make sure that it is genuine.
You are responsible for anything that occurs when anyone is signed in to your account, as well as the security of the account. If you believe your account is compromised, you must contact us immediately.
In order to comply with AML ( Anti Money Laundering ) and KYC ( Know your Customer ) guidelines, you will need to fill in your payout information by clicking on the “Withdrawals” tab inside your account.
All payments made by us are send by bank transfer / bank wire. We will require you to add the following details to your “withdrawals” section :
Date of Birth
Bank Details ( Including IBAN and BIC number for international transfers )
Bank / Branch Address
Depending on the scale of your campaign we may contact you by email to request a copy of your ID, as well as proof of your address ( e.g a utility bill ). This is to ensure that we have full details about the person / business that is receiving the payment from the campaign.
Social Channels / Account confirmation
When starting a campaign for a social media account, for example Youtube, Twitter, Instagram etc. We will need to confirm that you are indeed the owner of the social account that you are raising funds for.
Useage examples :
Youtube, we will ask that you post your BitSpotMe campaign page URL into at least one of your videos. This is so that we can verify that you are the owner of the YouTube account.
Twitter, we will ask that you make at least one tweet, with your BitSpotMe campaign page URL, from the Twitter account that you are raising funds for. You can also include the @bitspotme handle for quicker confirmation.
Facebook, we will ask that you make a post, including your BitSpotMe campaign URL on your facebook personal / business or group page.
Business / Startups, will be required to prove ownership of the business and also add either a permanant or temporary link on your website to your BitSpotMe campaign page. This is to prove business and website ownership.
Charities, we work with charities on a one on one basis. If you are running a campaign on behalf of a charity, we will ask you to provide proof of the event and association with the charity. Usually you will receive a pack from the charity with details about your account. We will need to verify that this is genuine before we activate your campaign.
BitSpotMe is a Crowdfunding platform, we ask you to stick to some basic guidelines and will do everything we can to manaually check to make sure that these are being met. But you are responsible for your own account and BitSpotMe LTD cannot be held responsible for false campaigns, if any do slip through our check procedures.
We will not allow campaigns for anything related to a cause that we deem morally or legally unsound. This includes, but is not limited to :
- Illegal Activities
- Sexual related content
- Racial or any discrimatory content
- Missuse of Intellectual Property
- Immoral or inflamatory causes, social channels or business models.
We are different to Patreon and other funding platforms, we allow one-off donations along with comments and messages to be sent direct to the campaign holder. BitSpotMe gives you the control over who you donate to, how much you donate and the currency that you use to do this.
Of course we encourage multiple donations / contributions if you want to do so, we like to share the love and help our campaigners reach and exceed their goals. But we will never contact / encourage BitSpotMe account holders to donate more. Or contact you in any way other than to say thank you for a donation made.
As is the nature of Crypto Currency transactions, we are unable to refund a donation or contribution that is made. Unless the campaign is closed due to an infraction of our terms. As BitSpotMe supporters, we would ask that all users be vigilant, and report any campaign that you don’t think is genuine or that you feel is immoral or acting against the good intentions of BitSpotMe and our funding concepts.
We will monitor and check all campaigns, but with the help of a larger community we can make our platform better, more useful and free of missuse. This is better for everyone and thats what we want.
BitSpotMe fees are transparant and simple. We currently have three tiers of fees, while we are in Beta mode we are encouraging new users with an Early Adopter rate. This will remain the rate that all new users receive until we decide to revert to our standard fee structure. Our Charity fee structure is permanant, we will always provide a free service to all charitable crowdfunding / fundraising.
Early Adopter Fees : We will process and payout in your local currency, the full amount of your campain, less a 3% handling fee
Standard Fees : Once we end the early adopter fees, we will run a flat fee structure for all campaigns (excluding Charities) of 5% plus a $1 Withdrawal fee
Charity / Charitable activities Fees : BitSpotMe will be responsible for all fees / costs involved. We will payout 100% of all donations made to a charitable cause. We charge a fee of 0%
We are incorporated in the United Kingdom and as such abide by UK and EU law. We comply with KYC and AML policies and details of which will be made available if required by the authorities.
Our full details are :
20-22 Wenlock Road
UK Registration #11164385
Any actions taken by BitSpotMe users that incurr legal consequences will indemnify BitSpotMe LTD entirely. Our aim is to do good for the community and to provide a solid and reliable service.
You will indemnify us from all losses and liabilities, including legal fees, that arise from any action taken against you for the missuse of our service. We reserve the right to exclusive control over the defense of a claim covered by this clause. If we use this right then you will help us in our defense.
Your obligation to indemnify under this clause also applies to our affiliates, officers, directors, employees, agents and third party service providers.
We do our best to make sure that BitSpotMe and our donation handling and payout process works as expected. We provide a service and will do everything in our power to provide this service exactly as outlined by us and our website, including all fees and content described.
We cannot be held responsible for sudden price drops in cryptocurrencies. As stated, we will convert all donations into USD as a holding currency as quickly as possible. On some occasions this will mean that the amount converted may be slightly less than originally donated, but in a market that changes every minute, this can happen. We counter this potential fluctuation with a promise that if the conversion rate results in you receiving more than donated, you will receive this extra amount.
Any problems? We’re here to find a resolution
If you have a problem please talk to us, BitSpotMe aims to build a positive, functioning and effective monetization platform for all of its users. We welcome your comments and will always be here to discuss any ideas or work on areas that you feel can be improved. That’s how we achieve progress, and we’re all about progress!
This page was updated on February 13th 2018