Through the LVL Referral Program, you, the User, may invite friends to apply for a LVL Account and, if eligible, those friends may use the Services offered by LVL (as described in the User Agreement). You can refer a friend by sending them an invitation link (“Referral Link”) obtainable via the LVL interface. These Referral Program Rules form part of the LVL User Agreement..
Please share your Referral Link only with people you have a relationship with and who may be interested in using the Services.
When a referred person signs up for an Account using a Referral Link, and is approved by LVL, the referred person’s Account is considered a “Referred Account.”
All Accounts, including Referred Accounts, are assessed the Monthly Fee on the 1st of the month. For each of your Referred Accounts that held an Account Value exceeding Referred Account’s Standard Monthly Fee at the time the LVL Monthly Fee was assessed and collected (“Active Referred Account”), you will receive a reward of a $2 USD-equivalent amount of Bitcoin (“Monthly Reward”), subject to all of the other terms and conditions herein.
You do not need to pay any fees or make any purchase to earn Monthly Rewards.
Prohibited Users, as defined in the LVL User Agreement may not participate in the Referral Program.
Monthly Rewards are credited to your Account within seven (7) business days of the 1st of the month in which the Monthly Fee is collected on an Active Referred Account.
The most long-term monthly earning potential of your participation in the Referral Program is the “Max Reward”, which is calculated as $2 times the number of Referred Accounts. Your Max Reward is your future estimated Monthly Reward assuming that all of your Referred Accounts hold Active Referred Accounts at the time the Monthly Fee is collected. There is no guarantee you will earn the Max Reward or any Monthly Reward.
Monthly Reward Calculation
- In determining the quantity of Bitcoin payable as your Monthly Reward, LVL will use the price of Bitcoin, within four (4) hours of the time the Monthly Fee was collected, sourced from Nomics, Messari, or CoinMarketCap at LVL’s sole discretion.
- If you hold an identity-verified account in an Approved Region, your Monthly Reward is paid in a credit of Bitcoin to your Bitcoin Hosted Wallet and, once credited, is tradeable and/or spendable immediately.
- If your region is not yet an Approved Region, or you have not completed identity verification, or both, your Monthly Reward is paid in a Bitcoin-equivalent credit of the Monthly Reward(“Monthly Reward Credit”). If your Account is subsequently both identity-verified and in an Approved Region, Monthly Reward Credits are automatically deposited into your Hosted Wallet.
- All Accounts are subject to collection of the Monthly Fee, including balances resulting from Monthly Rewards or Monthly Reward Credits.
This promotion is not valid with any other offers and is non-transferrable. We reserve the right to modify or terminate the Referral Program at any time, in our sole discretion. We may modify the Referral Program by providing notice via one or more of the following methods: a) by email to the email account used to create your Level Account, b) by updating the ‘last updated’ date listed herein, or c) by your acknowledgement as part of your LVL Account login. LVL reserves the right to terminate this offer or your Referral Link at any time for any reason, and to refuse to recover any Monthly Reward if LVL, at its sole discretion, determines that it was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided in opening the Account, that any rules or regulations would be violated, or that any terms of the LVL User Agreement, LVL Trading Rules or any other policy that governs LVL Accounts that has been made publicly available by us (collectively the “LVL Policies”) have been violated. LVL is not responsible for any failure of a Referred Account due to region eligibility, failed KYC screening, or any other reason, to become an Active Referred Account. LVL reserves and retains all rights, in its sole and absolute discretion, to approve, deny, suspend, terminate or take any other action at any time with respect to all Accounts as per the LVL Policies. You understand and agree that the actions LVL may take could have a significant impact on your entitlement to and receipt of Monthly Rewards and/or Monthly Rewards Credits. You understand and agree you have no right, title or interest in any Monthly Reward Credits until they have converted into Bitcoin and deposited in a Hosted Wallet.
Nothing contained in these Program Rules shall be construed as creating any agency, partnership, employment of any type or other form of joint enterprise. You shall ensure that you shall not represent to the contrary, either expressly, implicitly, by appearance or otherwise.
You agree to limit the information you provide in connection with the Referral Link to the linked web page and other materials provided first-hand by LVL to the referee, and further agree that you will not provide individuals with recommendations regarding their specific needs or investment decisions. You agree that your participation in the LVL Referral Program will conform to the terms contained herein. If you cannot accurately make the preceding representations, you may not participate in the LVL Referral Program. If you are currently participating in the LVL Referral Program and the preceding representations become inaccurate, you agree to immediately inform LVL at email@example.com.
11 February 2020