Automated Bitcoin Purchases Terms and Conditions
Triple Link Labs Pty Ltd trading as HardBlock Bitcoin Exchange, offers its customers a feature called Auto-Buy that automatically and immediately purchases Bitcoin when Australian dollar deposits are received via PayID or EFT (electronic funds transfer) deposit methods.
Automated Bitcoin purchases are enabled for a customer's account when the slider button in the Auto-Buy Settings section (found on the "Savings Plan" page) is switched to "ON" (ie the button says "ON" and the button colour turns green). In order to switch on Auto-Buy customers must first accept these terms and conditions.
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.
Australian dollar deposits made via POLi are not eligible for Auto-Buy and will not be impacted by enabling Auto-Buy.
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 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).
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 Past Orders section of either the Savings Plan page or the Buy/Sell page. Under the column Type, they will be identified as Auto Buy.
Customer's are able to make recurring deposits to their HardBlock account by making use of recurring payment functionality within their bank's internet banking platform. 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.
If further clarification is required please contact us: support@hardblock.com.au