Our new EcoPod promotion is off to a fast start according to the orders already placed and we are pleased to see our members understand this is a limited time offer.
We do however want to remind our members that all of your mining equipment purchase BTC is utilised to purchase real mining equipment which you own. This equipment has a real and finite cost, and with the current fluctuation in the BTC valuations it becomes necessary we implement this policy and procedure update.
Due to the potential cryptocurrency fluctuation which occurs periodically after a transaction, the company is exercising its right to either return/refund the member’s funds paid, instead of fulfilling orders when and if their payment does not cover the actual price of the equipment or when the promotion is sold out.
For example: Let’s say that BTC is worth $4000 and after a member pays us 1 BTC at that current price and BTC suddenly goes down to $3000 after the transaction, then we as a company cannot be expected to purchase $4000 worth of equipment when we have only received $3000 that we are able to use.
Although Lifestyle Galaxy has special sources for buying cryptocurrency hardware on behalf of its members, we often deal with rates which are different from the rest of the world. We purchase equipment in batches and the market rate for BTC varies and at times can be dramatically different between Chinese and Western exchanges.
Rather than being forced to buy the equipment at a loss, we have the right and ability to refund the coin that you have spent for the purchase(s).
We don’t have any plans to utilise this in the future unless necessary, so this is just a simple policy notification.
