Referral Program Terms & Conditions
Terms & Conditions
The maximum amount a single member is able to earn is limited to $500 (USD).
A "Referrer" (or “Sender”), is a qualified Account Holder that shares their unique Referral Program link with a “Referee”. See Rewards Program Terms and Conditions for more information on qualified accounts.
A Referrer becomes eligible to receive a Referral Program Stock Reward when a Referee creates their first qualified Account, links a qualified account or card, and earns its first Transaction Stock Reward after clicking on the Referrer’s unique Referral Program link. Only the last clicked Referral Program link before a Referee’s account creation will be credited.
A “Referee” (or “Receiver”), is a user who has received a unique Referral Program link from a Referrer. A Referee becomes eligible to receive a Referral Program Stock Reward upon creating their first qualified Account, linking an eligible Account or Card and receiving their first Stock Reward.
Referrers or Referees will be issued a Stock Reward at the sole direction of Bits of Stock upon eligibility.
Best efforts will be made to credit an Account Holder’s account within 3 business days of eligibility.
Where required by applicable laws, rules, and regulations the value of any offers must be reported as Other Income on a Form 1099-Misc. Bits of Stock is not responsible for any taxes related to this Stock Rewards program.
This offer is not transferable or saleable and is valid for U.S. residents only. Employees or contractors or people affiliated with Bits of Stock or members of their household are not eligible for this offer. Employees of any securities or regulatory organization or exchange are not eligible for this offer. Other restrictions may apply.
This program is only available to U.S. residents residing within the United States and who are otherwise qualified to open a Bits of Stock account.
Bits of Stock reserves the right to decline requests for the Referral program at its discretion. There is no guarantee that the Reward will be paid and Bits of Stock reserves the right to change or terminate the Referral program at any time.
If a member requests the cancellation of their brokerage account with Bits of Stock but is restricted from doing so due to an unsettled reward, the member may forfeit the Reward in writing. Once a member requests that a reward is to be forfeited in order to close their account, Bits of Stock will revoke the face value of a sold reward and/or revoke the reward credit itself.
In the event an account is closed due to violations of Bits of Stock's community guidelines or Terms of Service, Bits of Stock will revoke the face value and/or the reward itself from the members' account in order to close it. In cases of a forced closure, a formal request in writing from the member is not required, and Bits of Stock reserves the right to revoke a reward at any time.
Limit one offer per qualified referral with a maximum of one account per referred individual. Users who have been found to be abusing the signup or promotion process to manipulate the number of rewards generated will have their accounts terminated and their rewards revoked.
Stock Reward Limit
You can receive up to $500 in Stock Rewards per year through this referral program and the value of each stock you receive will be listed in your Statements & History.
If the total value of Stock Rewards you receive through the program is approaching $500, you'll stop receiving Referral Program Stock Rewards once the value of the Referral Program Stock Reward in our inventory brings you over the $500 limit. For example, if you have earned $497 in Referral Program Stock Rewards and the value of Referral Program Stock Rewards is $5, you won't be able to receive more Stock Rewards. However, your friends will still receive a Stock Reward if they sign up with your invite link and satisfy the conditions of the promotion.
Make sure you consult with your tax advisor on how the receipt and sale of stock will impact your own tax situation. The cash value of the stock at the time you claim it may be reported as “Other Income” on a 1099-Misc form, if applicable. Any gains or losses on the sale of the stock are reported as capital gains or losses. You can check the original value of each stock you receive in your Statements & History.
You earn $10 in Stock Rewards and later sell it for $15 dollars: - The $10 stock gift will be reported as “Other Income” on a 1099-MISC form, if required. - The $5 gain will be reported as capital gains.