Automated Bitcoin Purchases & DCA Terms and Conditions

Triple Link Labs Pty Ltd, trading as HardBlock, provides optional automated features & DCA as part of our services. By switching on Auto-Buy, Recurring-Buy and/or Auto-Send customers accept these terms and conditions.

We also offer the inverse of these functions via Auto-Sell, Recurring-Sell and Auto-Withdraw, which these terms also address.

Auto-Buy

The full amount of any Australian dollar deposits received to a HardBlock account via PayID or EFT, while Auto-Buy is enabled for that account, will immediately be used to purchase Bitcoin at the time of the receipt of the deposit.

Further, the Bitcoin buy price that an Auto-Buy transaction is completed at will be the price when the deposit is received, not when it is sent from a customer's bank account.

Please note that HardBlock cannot control the time interval between when the deposits are sent and when they are received into our bank account. Australian dollar deposits sent via the OSKO (sometimes also called NPP) network can be instant, but banks may delay deposits based on certain criteria (including but not limited to deposit size or the first deposit to a new account). We are also aware of delays that can occur once a cumulative amount sent to an exchange has been reached (for example, a $100 weekly transfer might be delayed by your bank once a total of $1000 has been sent after 10 weeks).

Further, HardBlock uses a 3rd party service provider to receive PayID and EFT deposits. HardBlock will not be held responsible in the event that an outage at the 3rd party service provider results in a delay to a PayID or EFT deposit being credited to a customer's HardBlock account.

Automated Bitcoin purchase transactions, including the price the transaction was completed at, can be viewed in the Order History section on the Buy/Sell page. Under the column Type, they will be identified as Auto Buy.

By toggling-on Auto-Buy, you agree to all applicable terms, and agree that you are granting us explicit consent to automatically buy bitcoin using dollars deposited into your HardBlock account as per the details inputted into the system, and credit that bitcoin to your account.

Customers are able to make recurring deposits to their HardBlock account by making use of recurring payment functionality within their bank's internet banking platform or app. For this reason, HardBlock has not necessarily duplicated this existing functionality. However, HardBlock will not be held liable for any failure of recurring payment functionality occurring within a customer's bank platform.

Recurring-Buy

The Recurring-Buy setting found in our DCA features allows you to set up a repeat BTC buy order based on a frequency, start date, and amount. These purchase will continue as long as there are funds available in your account to fund the purchase, or until the Recurring-Buy is toggled off. The benefit of this method is it reduces the chance of a delay in funds being transferred to your account through the banking system to impact the timing of your bitcoin purchase, however the tradeoff is that you need funds sitting in your account in order for the buy to be executed.

While all efforts are made to ensure a smooth uptime for all automations, there can be scenarios where an outage of our infrastructure providers, such as server hosting services, could cause a recurring-buy to be skipped. If this occurs, the system will continue with the next recurring-buy order as per your settings. By toggling on Recurring-Buy and agreeing to these terms, you accept that HardBlock cannot be held liable for such outages leading to a transaction being skipped.

By toggling-on Recurring Buy, you agree to all applicable terms, and agree that you are granting us explicit consent to buy bitcoin using the dollar balance in your HardBlock account as per the details inputted into the system. The bitcoin is then credited to your account.

When toggled on, Recurring-Buy transactions happen at midnight ACST, or as close to that time as possible.

Auto-Send

The Auto-Send feature is used to set up automatic transfers of bitcoin to a nominated address when a certain threshold of bitcoin is accumulated in your HardBlock account.

You must ensure that the address you input is correct. HardBlock accepts no liability if an incorrect bitcoin address is entered into the Auto-Send feature and bitcoin is sent there. We offer no guarantee that bitcoin sent to an incorrect or invalid address can be recovered.

By toggling-on an Auto-Send, you agree to all applicable terms, and agree that you are granting us explicit consent to send a bitcoin transaction as per the details inputted into the system using the bitcoin held in your account.

Auto-Send transactions are added to our weekly batch which typically goes out on Sunday early morning ACST, however an exact timing is not always guaranteed.

You can use the (+) button to queue up additional addresses to prevent address re-use for additional privacy with your transactions. The system will sequentially send to each address in the queue each time the threshold is met. You are encouraged to login and add new addresses once they are all used up, to prevent re-use.

Auto-Sell

The Auto-Sell setting is the inverse of the Auto-Buy, wherein as bitcoin deposits are received into your HardBlock account, they will automatically be sold into Australian Dollars.

The full amount of any Bitcoin deposits received to a HardBlock account while Auto-Buy is enabled for that account, will be sold into Australian Dollars at the time of the receipt of the transaction.

Further, the Bitcoin sell price that an Auto-Sell transaction is completed at will be the price when the transaction is received, not when it is sent from a customer's bitcoin wallet.

Please note that HardBlock cannot control the time interval between when the transfers are sent and when they are received into our system. The time taken for a transaction to be credited by us is based on what is currently happening on the bitcoin network, the transaction method used (for example, on-chain versus lightning), and the priority of the transaction set via the fee rate (if sending on-chain), as well as other factors such as outages of software infrastructure.

HardBlock cannot be held responsible for any delays or issues resulting from third-party software and protocol forces that can impact on transaction success or timings.

By toggling-on Auto-Sell, you agree to all applicable terms, and agree that you are granting us explicit consent to sell bitcoin that is deposited into HardBlock account as per the details inputted into the system in exchange for dollars which will be credited to your account.

Automated Bitcoin sale transactions, including the price the transaction was completed at, can be viewed in the Order History section on the Buy/Sell page. Under the column Type, they will be identified as Auto Sell.

Recurring-Sell

The Recurring-Sell feature lets you create an automation in your account that will sell a specific amount of bitcoin at a specific interval, which, once toggled on, continues until toggled off or until your account runs out of bitcoin to complete the sale.

By toggling-on Recurring Sell, you agree to all applicable terms, and agree that you are granting us explicit consent to sell an amount of bitcoin held in your HardBlock account as per the details inputted into the system in exchange for dollars which will be credited to your account.

HardBlock does not guarantee the exact hour of the sale each day based on the set date. While all efforts are made to ensure a smooth uptime for all automations, there can be scenarios where an outage of our infrastructure providers, such as server hosting services, could cause a recurring-sell to be skipped. If this occurs, the system will continue with the next recurring-sell order as per your settings. By agreeing to these terms, you accept that HardBlock cannot be held liable for such outages leading to a transaction being skipped.

If precise timing for a sale is required, we recommend not using Recurring Sell and instead placing manual bitcoin sales.

Auto-Withdraw

Auto-Withdraw is used to withdraw dollars from your HardBlock account whenever your account is credited with dollars, such as after the sale of Bitcoin.

You must ensure that the bank account withdrawal details you input are correct. HardBlock accepts no liability if incorrect banking details are entered into the Auto-Withdraw feature and dollars are sent there. We offer no guarantee that dollars sent to incorrect or invalid details can be recovered, however if this occurs, please contact support and we can investigate with our banking partner.

By toggling-on an Auto-Withdraw, you agree to all applicable terms, and agree that you are granting us explicit consent to send dollars as per the details inputted into the system using the dollars that are credited to your account.

Auto-Withdraw transactions are sent to our Banking Partner for processing, however exact timing and instant transfer is not always guaranteed, due to the nature of the banking system and intermediaries. PayID transfers are more likely to be processed and received faster than EFT transfers.

HardBlock makes no guarantee or accepts responsibility for a failure of banking intermediary infrastructure which can result in a transfer being delayed, lost, or returned. However, we will make every effort to investigate any issues with transfers and attempt to rectify them through our Banking Partner.

If further clarification is required please contact us: support@hardblock.com.au