NOVA MACHINES, INC. (dba NOVA BTM)

CALIFORNIA CUSTOMER DISCLOSURE STATEMENT

Provided pursuant to California Financial Code section 3501

Please read this disclosure carefully before using our services. You may keep a copy. A copy can be sent to you by text message or email on request, and is available at novabtm.com.

1. Who We Are

Nova Machines, Inc., doing business as Nova BTM (“Nova,” “we,” “us”), operates Bitcoin Teller Machines (“BTMs” or “kiosks”) in California at which you may buy Bitcoin for cash or sell Bitcoin for cash. Nova is licensed [upon licensure: License No. {tbd}] under the California Digital Financial Assets Law and is regulated by the California Department of Financial Protection and Innovation (“DFPI”).

2. Fees and Charges

Our charge for a transaction consists of a service fee and/or a price spread. The spread is the difference between the price we charge (or pay) for Bitcoin and the market price of Bitcoin listed on a licensed digital financial asset exchange at the time you begin your transaction.

  • Bitcoin purchases: total charges typically range from 10% to 15% of the U.S. dollar amount of your transaction.

  • Bitcoin sales: total charges typically range from 5% to 10% of the U.S. dollar amount of your transaction.

  • California fee cap: by law, our total direct and indirect charges for a single kiosk transaction will not exceed the greater of $5 or 15% of the U.S. dollar equivalent of the digital financial assets involved (Fin. Code § 3904).

  • When charges are assessed: charges are included in the transaction at the time it is executed. The exact dollar amount of all fees and the spread, and the exchange price used for comparison, are displayed on screen before you confirm each transaction and printed on your receipt.

  • Bitcoin network (miner) fees: transactions on the Bitcoin network may incur a network fee, which is disclosed on screen before you confirm. If you attach your own miner fee when sending Bitcoin to us, that fee is your responsibility.

3. Insurance and Guarantees

Digital financial assets purchased from Nova are NOT covered by any form of insurance or guarantee against loss by an agency of the United States, including FDIC deposit insurance, NCUSIF share insurance, or SIPC protection. Nova does not currently maintain private insurance covering theft or loss of customer digital financial assets, including cybertheft.

4. Transaction Limits

California law limits kiosk transactions to a total of $1,000 per customer per day (Fin. Code § 3902). We may apply lower limits based on our compliance program and verification tier; applicable limits are shown on screen.

5. Transactions Are Irreversible; Refunds

Bitcoin transactions are recorded on the Bitcoin blockchain and CANNOT be reversed. If you send Bitcoin to a wrong address, or are directed by another person to send Bitcoin (including by anyone claiming to be a government agency, utility, law enforcement, or an online romantic interest), we cannot retrieve it. Because of the irreversible nature of blockchain transactions, completed transactions are generally not refundable. Refund requests are reviewed case by case; contact customer support using the information in Section 9.

6. Timing; Receipts; Preauthorized Payments

  • The date or time a transfer or exchange is completed and your funds are debited may differ from the date or time you initiate the transaction (for example, due to blockchain confirmation times).

  • You have the right to receive a receipt or other evidence of every transaction. Our kiosks print a receipt at the completion of each transaction, and a duplicate is available from customer support.

  • Nova does not offer preauthorized or recurring payments; every transaction is individually initiated and confirmed by you at the kiosk. Because there are no preauthorized transfers, stop-payment orders do not apply to our services.

  • You may update your contact information at any kiosk under Account settings or by contacting customer support (Section 9).

7. Our Liability to You

Nova is responsible for your cash from the moment our kiosk accepts it, and for Bitcoin you purchase until it has been transmitted to the wallet address you designate. If you believe a transfer was unauthorized, mistaken, or accidental, or that an error occurred, notify us as soon as possible using the contacts in Section 9 and within 30 days of the transaction. We will investigate, respond to you within a reasonable time, and correct any error we are responsible for, including re-sending Bitcoin or refunding U.S. dollars where required by law. Nothing in this disclosure or our Terms and Conditions limits any liability we have to you under the California Digital Financial Assets Law.

8. Risk Disclosures

  • Digital financial assets are not legal tender and are not backed or guaranteed by any government.

  • Your Bitcoin is not protected by FDIC or SIPC insurance or by any deposit insurance program.

  • The value of Bitcoin is volatile and may change significantly in a short time, including between the start and completion of a transaction. You can lose money.

  • You, not Nova, control and are responsible for the wallet you designate to receive Bitcoin, including its private keys.

  • Be alert to scams. No legitimate government agency, business, or romantic contact will direct you to pay them through a Bitcoin kiosk.

9. Questions, Errors, and Complaints

You will receive at least 14 days advance notice of any change to our fee schedule, to terms and conditions that materially affect your use of our services, or to the policies applicable to your account. Notice is provided by text message to your number on file and by posting at our kiosks.

Nova customer support: 1-844-668-2286 · support@novabtm.com · We accept and respond to complaints and error claims through either contact.

California regulator: if your complaint is not resolved, or at any time, you may contact the California Department of Financial Protection and Innovation: toll-free (866) 275-2677 · dfpi.ca.gov · 651 Bannon Street, Suite 300, Sacramento, CA 95811.

10. Service Outages

In the past 12 months, Nova has not experienced a service outage that made its services unavailable to 10,000 or more customers. 

Customer Acknowledgment

I acknowledge that I received and had the opportunity to read this disclosure before transacting with Nova, and that a copy is available for me to keep.

Acknowledged on screen at account enrollment.  


Nova Machines, Inc. dba Nova BTM — California Customer Disclosure

*Nova BTM will match the rates of any Bitcoin ATM competitor within a 20 mile radius. Rates must be publicly posted and verifiable. Call 844-NOVABTM or email support@novabtm.com to get price match rates.