Our Terms of Use were amended as of March 26, 2024. You may take note of the amendments by clicking here.

Amended March 26, 2024, to add the following at the end of section 1: "To comply with applicable laws, we may from time to time request, and you agree to provide, information confirming your identity and the purpose of the transactions that you carry out or intend to carry out through our kiosks or website. Your failure to provide the information requested ,may result in the loss of all rights, benefits and privileges that you earned pursuant to our Instapoints Program."

1. Who We Are

You are dealing with Instacoin ATM Canada Inc. ("Instacoin Canada") if you use or access any service provided at our kiosks anywhere in Canada except Quebec.

You are dealing with Instacoin ATM Quebec Inc. ("Instacoin Quebec") if you access or use any service provided at our kiosks in Quebec.

In these Terms of Use, we refer to Instacoin Canada and Instacoin Quebec, together, as "Instacoin ATM Group" or "Instacoin ATM", or as "we", "our" or "us".

Instacoin Canada and Instacoin Quebec is each a business corporation, incorporated under Canadian federal law, and is part of the "Instacoin Group". The Instacoin Group includes, in addition to Instacoin Canada and Instacoin Quebec, Instacoin Capital Inc, which carries on business as "Instacoin Direct".

Because our activities involve "dealing in virtual currencies," we are registered under, and must comply with, Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the "PCMLTFA"). Instacoin Quebec is also registered under and must comply with Quebec's Money-services Businesses Act (the "MSBA"). Businesses such as ours are sometimes referred to as "money services businesses" or "MSB's". MSB's must monitor, record and report activities and transactions in accordance with the PCMLTFA and the MSBA, laws governing sanctions, restrictions on dealings with Politically-exposed Persons, Canada's Criminal Code, and other relevant law relating to money laundering ("Anti-Money Laundering Law"). Reports and other information may be given to the Financial Transactions and Reports Analysis Centre of Canada ("Fintrac") or to the Autorité des marches financiers of Quebec, or to both.

To comply with applicable laws, we may from time to time request, and you agree to provide, information confirming your identity and the purpose of the transactions that you carry out or intend to carry out through our kiosks or website. Your failure to provide the information requested ,may result in the loss of all rights, benefits and privileges that you earned pursuant to our Instapoints Program.

2. What We Do

We buy and sell selected virtual currencies at kiosks across Canada. All our transactions are carried out for our own account. We do not act as an agent or depository, or in any other capacity, for any third party including any buyer or seller of virtual currencies.

Although our kiosks are sometimes called "Bitcoin ATM's" or "Cryptocurrency ATM's" or using other terms that suggest we operate an "ATM", we do not offer "automated teller services" or any other service dependent on maintaining an account with us. When you deal with us, you do so for the purpose of buying or selling virtual currencies and you are not depositing to, or Withdrawing, or making any payment from, any account with us. Our business is very different therefore, from that of conventional financial services providers such as banks, trust companies or credit unions.

Some transactions with us may be initiated on our website or involve consulting our website. However, all transactions must be concluded at one of our kiosks and this will determine whether you are dealing with Instacoin Canada or Instacoin Quebec.

We may refer to a person who transacts any business with us at a kiosk, or who visits our website or contacts us, to buy or sell virtual currencies, as a "customer". In these Terms of Use, customers may also be referred to as "you" or "your", or using similar terms.

3. You Agree to our Terms of Use

When you transact any business with us, access our website, or contact us, for the purpose of buying or selling virtual currencies at one of our kiosks, you agree to our Terms of Use as explained in this document. These Terms of Use govern all our interactions with you. If any information on our website or otherwise made available to you conflicts with these Terms of Use, these Terms of Use prevail.

Titles in our Terms of Use are for reference only and do not form part of any agreement with you. Capitalized terms used in our terms and conditions are defined where they are first identified in quotation marks (" ").

Our Terms of Use may change from time to time. We endeavour to alert you of any material change. Regardless of whether any notice was given to you, our Terms of Use, including any changes, will govern.

An agreement with you is subject as well to the law of the jurisdiction in Canada where you reside. If you use or access any service in Quebec and have chosen to use the English-language, you agree that you wish to receive all documents and communications from us in English.

4. Do You Qualify to Buy or Sell Crypto?

We sell or buy Eligible Crypto only if a customer is qualified. To qualify to transact with us:

  1. You must be an individual (physical person)
  2. You must be a Canadian resident
  3. You must be at least 18 years of age
  4. You must be transacting for yourself and not for any other person or entity
  5. You must have submitted, and we must be satisfied with, all information required as a condition of any transaction, including any information required under our AML-CTF Policy.
  6. You must not be prohibited from transacting with us under Anti-Money Laundering Law or our AML-CTF Policy.

When you contact us about any transaction or conclude any transaction, you agree and warrant to us that you are a qualified for the transaction. You agree that we may make enquiries of third parties, including credit bureaus, to verify the information that you give us, and you acknowledge that we will report any information required by law to competent authorities, including Fintrac.

5. Eligible Crypto, Transaction Limits, Prices

Our website lists the virtual currencies we are willing to sell or to buy ("Eligible Crypto"). Only virtual currencies on the list of Eligible Crypto will be sold or bought. We may change our list of Eligible Crypto at any time and from time to time at our entire discretion.

We will fix the minimum and maximum amount of Eligible Crypto you may sell, and the daily limits on your transactions. These amounts will be dictated by market conditions and by the policies we have implemented to comply with Anti-Money Laundering Law (our "AML-CTF Policy). All amounts will be determined by reference to the price we are willing to pay or to accept for Eligible Crypto, denominated in Canadian currency.

If we receive an amount in Eligible Crypto that exceeds the maximum we are willing to buy or your transaction limits, we will return the excess to you after deducting transactions fees provided that we have the necessary information, and the amount is more than the transaction fees and our processing fee.

If you deliver less than the minimum amount of Eligible Crypto required to execute a transaction, we may process your transaction for the lesser amount or refuse to process your transaction and return your Eligible Crypto to you less transaction fees.

When you conduct a transaction with us, you agree that the transaction amount you have selected corresponds to the value or price of the Eligible Crypto you have bought or sold, and that no additional amount is payable despite any difference between the transaction amount and the price or prices of the Eligible Crypto on any market or from any third party.

6. You are Responsible for Your Transactions

You are responsible for your transactions with us. Do not buy or sell Eligible Crypto without informing yourself of the risks, including high volatility, limited liquidity, and legal uncertainty.

Your responsibility extends to your choice of how you receive and secure any Eligible Crypto you buy. You must choose a "wallet" and must take steps to ensure that no one else has access to the wallet. If you transfer any Eligible Crypto to a wallet that you do not own and control, or permit anyone but you to access or use the wallet, you are responsible for any loss you sustain.

Except in very limited circumstances where your transaction has not yet been processed, it is impossible to reverse a transaction. Transactions in virtual currencies are intended to be final and non-cancelable. If circumstances do permit, and you wish to reverse a purchase of Eligible Crypto, you must return the Eligible Crypto and pay any damages we have incurred as a result of changes in market prices.

7. Beware of Fraud

Regrettably, we sometimes learn that a customer has purchased Eligible Crypto to make a payment to someone the customer does not know or whose identity the customer has not verified. Payments in virtual currencies are similar to payments in cash. If you have not received the goods or services for which you are paying, or from someone you trust, or if you are asked to make a payment to any governmental authority or to settle any claim against you, do not make the payment. We do not control your transactions with others including payments you might make using virtual currencies purchased from us.

All our kiosks contain warnings about fraud. Our website also warns of fraud. You acknowledge that you have read and understood these warnings when you transact with us.

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