Withdrawal and Refund Policy

Effective Date: March 15, 2025

Document information

 At MineBit.com, we are committed to ensuring a secure, transparent, and legally compliant withdrawal process for all our users. This Cryptocurrency Withdrawal Policy (the “Policy”) outlines the terms, conditions, and regulatory requirements that govern cryptocurrency withdrawals on our platform.

MineBit.com is owned and operated by Crea Tech Dynamics Limited, a company incorporated under the laws of Costa Rica, with its registered address at Provincia 06 Puntarenas, Canton 11 Garabito, Jaco, Avenida Pastor Diaz, Costado Este De La Municipalidad De Garabito, Bufete Sanchez Chavarria, 61101, and company number 3-102-910445.

MineBit.com operates under the regulatory oversight of the Anjouan Gaming Control Commission (AGCC) and is fully licensed under License No. ALSI-202409037-FI2, in compliance with the following legal frameworks:

By submitting a cryptocurrency withdrawal request, users (“you,” “your”) acknowledge and agree to the terms set forth in this Policy.

2.1 Account Verification & Identity Checks: To maintain the highest security and compliance standards, users must successfully complete our Know Your Customer (KYC) verification process before initiating a withdrawal. This is in accordance with Section 7 of the Money Laundering (Prevention) Act of 2005 (Anjouan) and industry best practices for online financial transactions.

2.2 To complete the verification process, users must provide the following documents:

(i) A valid government-issued identification document (passport, national ID, or driver’s license).

(ii) Proof of residential address, such as a recent utility bill or bank statement issued within the past three (3) months.

(iii) Source of funds declaration (for withdrawals exceeding $10,000), ensuring compliance with Enhanced Due Diligence (EDD) procedures as required under Section 9 of the Money Laundering (Prevention) Act of 2005 (Anjouan).

(iv) Screening against international financial watchlists (OFAC, UN, EU, and Anjouan FIU) to prevent transactions involving sanctioned individuals or politically exposed persons (PEPs).

2.3 MineBit.com reserves the right to delay or deny withdrawals if verification requirements are not met or if there are reasonable grounds to suspect fraudulent activity.

2.4 Wagering Requirements for Withdrawal: In compliance with Anjouan’s iGaming regulations, users must fully satisfy all wagering obligations associated with bonuses or promotional offers before a withdrawal can be processed. If a user requests a withdrawal without meeting these requirements, MineBit.com may:

(i) Reject the withdrawal request and notify the user of outstanding wagering requirements.

(ii) Apply additional verification procedures to confirm compliance with promotional terms.

MineBit.com allows withdrawals in the following cryptocurrencies:

Note: The availability of specific cryptocurrencies for withdrawal is subject to periodic review in accordance with Section 10 of the Computer Gaming Licensing Act 007 of 2005 (Anjouan). Updates to this list may occur as new regulations or industry standards evolve.

MineBit.com enforces strict withdrawal limits to promote financial security, responsible gaming, and compliance with regulatory requirements.

For withdrawals exceeding $10,000, users must undergo Enhanced Due Diligence (EDD), including verification of the source of funds and a risk-based review, as mandated by Section 9 of the Money Laundering (Prevention) Act 008 of 2005 (Anjouan).

MineBit.com reserves the right to impose additional withdrawal limits based on user risk profile, transaction history, or regulatory directives issued by Anjouan’s Gaming and Financial Supervision Authorities.

5.1 To initiate a cryptocurrency withdrawal, users must follow these steps:

5.2 All withdrawal requests are subject to AML screening under Section 8 of the Money Laundering (Prevention) Act of 2005 (Anjouan).

Withdrawals typically process within 15 minutes to 24 hours, but may take longer due to:

MineBit.com may request additional documentation to verify the legitimacy of withdrawal requests, particularly for high-value transactions.

6.1 MineBit.com operates with full transparency and does not charge users any additional fees for withdrawals. However:

(i) Users are responsible for blockchain network fees, which may vary based on network conditions.

(ii) MineBit.com ensures that all transaction fees comply with Section 12 of the Financial Services Act (Anjouan).

7.1 To protect users and ensure the integrity of financial transactions, MineBit.com implements robust security measures, including:

7.1.1 Two-Factor Authentication (2FA): Strongly recommended for all users to prevent unauthorized withdrawals.

7.1.2 AI-Powered Fraud Detection: Advanced algorithms monitor withdrawal patterns and flag unusual activity.

7.1.3 Risk-Based Withdrawal Reviews: Withdrawals exceeding $5,000 are subject to additional security screening.

7.1.4 Suspicious Transaction Reporting (STR): Transactions that raise compliance concerns will be reported to Anjouan’s FIU, as required under Section 14 of the Money Laundering (Prevention) Act of 2005 (Anjouan).

7.2 MineBit.com reserves the right to suspend, freeze, or reject withdrawal requests if fraudulent activity is suspected.