These Terms & Conditions for Bitcoin Purchases (“Bitcoin Terms & Conditions”) apply to your use of Bitcoin as your selected payment method. By using Bitcoin as your method of payment, you acknowledge and agree to be bound by these Bitcoin Terms & Conditions. These Bitcoin Terms & Conditions apply in addition to the terms and conditions contained in iDiamonds’s Terms of Sale and Site Terms (collectively, “iDiamonds Terms & Conditions”). If there is a conflict between these Bitcoin Terms & Conditions and iDiamonds Terms & Conditions with respect to Bitcoin transactions, these Bitcoin Terms & Conditions govern. If you do not agree with all of these terms, do not select Bitcoin as your payment method.
Paying with Bitcoin
Provided by BitPay
The option to complete your transaction in Bitcoin is provided by BitPay. iDiamonds does not guarantee and is not responsible for the availability of BitPay’s services. To complete your transaction via BitPay, you will be re-directed to BitPay’s website, where you will see the total cost of your transaction in Bitcoin, based on an exchange rate set by BitPay. The Bitcoin price for your transaction will remain valid for 10 minutes. If you do not initiate a payment during this time, the Bitcoin exchange rate will be updated and the Bitcoin price for your transaction may change.
Bitcoin transaction fee
If you are sending Bitcoin from a non-BitPay wallet, a small transaction fee (a “miner’s fee”) will be added by the Bitcoin network to the total Bitcoin cost of your transaction. This fee covers the cost of verifying Bitcoin transactions; iDiamonds has no control over this fee and does not receive any portion of the fee.
Bitcoin transactions can’t be changed or canceled
Due to the nature of the Bitcoin network, once you initiate a Bitcoin transaction you cannot change or cancel it; you may seek a refund pursuant to the refund processes described below.
Transactions verified by Bitcoin network
Once a Bitcoin transaction is submitted to the Bitcoin network, it may take an hour or longer for the Bitcoin network to fully verify the transaction. A transaction is not complete until it is fully verified. iDiamonds has no control over this timeframe imposed by the Bitcoin network.
If you are using a BitPay wallet and attempt to initiate a payment of Bitcoins different from the exact cost of the transaction indicated by BitPay, your transaction will not complete. If you are using a non-BitPay wallet and attempt to initiate a payment of Bitcoins different from the exact cost (plus miner’s fee) of the transaction indicated by BitPay, your transaction will not complete but your payment may be processed by the Bitcoin network; in such cases, the full amount of your Bitcoin payment will be refunded by BitPay as further described below. In the event of any such mispayment, if you intend to complete the original transaction you will be required to re-submit payment for the correct Bitcoin amount. Note that in the interim the Bitcoin exchange rate may have updated to a different rate and the Bitcoin value of your purchase price therefore may have changed.
Refund in the event of mispayment
For refund of a mispayment in Bitcoin, regardless of whether the transaction was completed via a BitPay or non-BitPay wallet, the refund will be in Bitcoin and processed via BitPay, and you must have, or create, a BitPay account in order to receive the refund. In the event of a refund, BitPay will send a refund notification email to the email address you provided to BitPay at the time of the original Bitcoin transaction. If you do not have a BitPay account associated with the email address to which the refund email was sent, the refund notification email will explain how to create or access your BitPay account to claim your refund. If the refund notification email is sent to an email address associated with an existing BitPay account, the refund will automatically be credited by BitPay to such account. If you are unable to (1) access the email address associated with your transaction or (2) use the BitPay service or access a BitPay account, you will not be able to receive a refund for a mispaid transaction.
Refund in the event of product return
Whether your iDiamonds purchase qualifies for a return for refund is governed by iDiamonds’s Terms of Sale including the iDiamonds Return Policy, regardless of whether you pay with Bitcoin or any other payment method. In order to claim a refund on a transaction paid for with Bitcoin you must follow iDiamonds’s Terms of Sale including the iDiamonds Return Policy. For a qualifying return of product paid for in Bitcoin, any refund due will be remitted to the purchaser via check in US Dollars for the full amount of the purchase US Dollar price paid at the time of the original transaction, less any applicable restocking fees. To issue any such refund check, iDiamonds will use the contact information provided by the customer in the iDiamonds.com checkout. Once a refund is determined to be due, customers should allow up to 15 business days for the issuance of any refund check. All refund checks will be issued to the name and billing address listed on the original order.