TERMS AND CONDITIONS GOVERNING SERVICES PROVIDED
§ 1 In these regulations of the "Koinfinn” website, hereinafter referred to as "Regulations”, the terms listed below should be understood as follows: "Website" - a website operating under the name of Koinfinn, located at the Koinfinn.com address and its subsites, "Supplier" – GOLDCOST SP.o.o with its registered office in Estonia/Europ Registry code :14717109 VAT number EE102156920 , with share capital of PLN 50,000; e-mail address: [email protected], "User” – any person using the Website, "Account” – the User account set up by the User at the Website in accordance with the rules defined herein, "Cryptocurrency” – transferable property right, the object of which is digital representation of the value, having its equivalent in means of payment, considered the means of exchange and a settlement unit, not having the status of the means of payment and not being electronic money as defined by the act of 19 August 2011 on payment services, which may be transferred, "Funds” – Cryptocurrency constituting admissible object of trading within the Website, indicated by the Supplier at the website: https://Koinfinn.com/, "Transaction” - the agreement concluded between Users through the intermediary of the Website, comprising the sale and purchase of the Cryptocurrency in exchange for another Cryptocurrency, "Stock exchange” – a list of recorded Funds purchase or sale orders made by Users through the intermediary of the Website, constituting the offer for the conclusion of the Transaction, "Maker” – the User who places the order for purchase or sale of Funds through the intermediary of the Website, which is recorded at the Stock Exchange, expecting the placement of a corresponding offer by another User, "Taker” – the User who, placing the order for purchase or sale of Funds, leads to the finalization of the Transaction as a result of adjustment of the Funds purchase or sale order placed by itself to the offer already recorded at the Stock Exchange, "Consumer” – a person defined in provisions of Article 221 of the Civil Code i.e. a natural person performing with an entrepreneur a legal action, non-related directly to its business or professional activity.
II. General provisions
§ 2 The Regulations define the rules of rendering services by the Supplier for Users, which consist in, among others, enabling them to open an account at the Website and give access to electronic platform providing the possibility of concluding Transactions.
§ 3 To use the Website it is not necessary for a computer or another access device of the User to meet any special technical conditions. The Internet access, e-mail address and standard operating system as well as the updated version of a standard browser will suffice for.
§ 4 Switching on cookies in the browser is necessary for correct use of the Website. Cookies are used, among others, to maintain the User's session after logging-in, to monitor the User's actions and for statistical purposes.
It is possible to delete cookies by means of appropriate options available in the browser or the access device settings. Detailed information as regards cookies is included in the provisions § 34 - § 36 of the Regulations.
§ 5 It is forbidden to take up any actions aimed at interfering with the Website software, breach of its safety or the safety of the Users' data.
It is forbidden to add any illegal content i.e. breaching legal regulations, principles of social interaction or third parties' personal goods to the Website, in particular it is forbidden to pretend to be another person.
§ 6 Opening of an Account is free of charge.
III. Opening of an Account
§ 7 In order to open the Account, press the "Registration" button. It is necessary to indicate the e-mail address and the password and to click the "Open the Account" button to open the account. Then the Supplier sends an e-mail containing an activation link to the User, for the purpose of opening the Account. The e-mail constitutes an offer for conclusion of the agreement on opening of the account between the User and the Supplier.
Only Users at the age of 18 years old or more are entitled to open the Account.
§ 8 Clicking the link "I confirm my e-mail address" in the e-mail with the activation link shall constitute the acceptance of the Supplier's offer and shall result in the conclusion of the agreement for opening of the Account, in effect of which the Account gets activated and the User is enabled to use other services of the Website.
There are three variants of the agreement for opening of the Account available at the Website. The limit of payments, provided to the User, and the kind of Funds within the framework of the Transaction as well as the degree of verification and the scope of data collected from the User depend on the aforementioned variants.
Level 1 - daily limit of payments 2 BTC per day (or equivalent in another Cryptocurrency),
Level 2 - daily limit of payments 10 BTC per day (or equivalent in another Cryptocurrency),
Level 3 - daily limit of payments more than 12 BTC per day (or equivalent in another Cryptocurrency),
The User may have just one Account.
§ 9 In order to obtain Level 2 of the Account, the User should use the "Verify your account" button, possibly the "Verification" button at the user panel and fill in the registration form fields containing the following data: name, surname, address of domicile, phone number, citizenship, designation and date of issue of the identity document and the User should upload a photograph from their ID card or passport for the purpose of verification of the data mentioned above.
Clicking the "Save" button results in sending the form with verification data to the Supplier and it constitutes the offer for modification of the Agreement on opening of the Account to the level of rights resulting from the Account with Level 2. In case of positive verification of data, the Supplier sends an e-mail to the User with information on the change of the agreement concerning Account to Level 2, which is equivalent to the acceptance of the User's offer.
To change the agreement on opening of the Account to Level 3, direct contact with the Supplier, by means of pressing the "Contact with Support Team" button, is required.
It is forbidden to add illegal contents to the form, in particular data of persons other than the User or untrue data. It is forbidden to use third parties' or fictional data for purposes of opening of the Account or the modification of the Account level.
§ 10 If the User is a Consumer, they are entitled to withdraw from the agreement on opening of the Account or an agreement on modification of the Account level, without stating the reasons, by means of submitting a statement within 14 days from the date of conclusion or modification of the Agreement i.e. from the moment defined in provisions of § 8 section 1 or § 9 section 2.
In order to exercise the right to withdraw from the agreement on opening or modification of the Account, the User should inform the Supplier about their decision on withdrawal from the agreement by way of unequivocal statement (submitted, for instance, via e-mail to the Supplier's address given in § 1 letter b of the Regulations).
In order to keep the date of withdrawal from the agreement on opening or modification of the Account, it is sufficient if the Supplier sends the information on exercising the right of withdrawal from the agreement, which it is entitled to, prior to the expiry of the date of withdrawal from the agreement.
§ 11 The User, bearing in mind their safety, should store their data for logging in to the Website, in such a way that no unauthorized persons gain access to such data.
§ 12 The User undertakes to regularly update their data provided to the Supplier within the framework of Account Level 2 verification process.
§ 13 After logging to their Account, the User has the possibility of using the Website functionality.
IV. Services available upon opening of Account
§ 14 After logging into their Account, the User has the possibility of, among others:
crediting their balance assigned to the Account by means of payment of Funds,
performing the Transaction,
making a withdrawal from the balance assigned to the Account,
familiarizing themselves with the history of their deposits and withdrawals of Funds and Transactions,
authorizing their identity by means of two-stage authorization,
implementing possibly obtained promotional codes concerning the Website services.
§ 15 The implementation of the Transaction is possible upon prior crediting of the User's balance assigned to the Account with the value of Funds appropriate for the Transaction.
In order to credit the balance at the Website, the User should use the "deposit" button with relevant marking of the Cryptocurrency.
Depositing Cryptocurrencies to the balance, in order to store them, the User transfers rights to Cryptocurrencies to the Supplier, including the right to administer them and the right to choose the storage method, subject to the fact that the Supplier is obliged to return - immediately upon the User's first request - the same Cryptocurrencies (i.e. designated as regards the kind), in the same number (unless the User requests the return of a smaller number of Cryptocurrencies at that time).
Upon the first request raised through the intermediary of the Website, the Supplier shall make the return of Cryptocurrencies transferred to the balance to the User or the Supplier shall administer Cryptocurrencies in accordance with another instruction of the User - e.g. it shall make them available to implement the Transaction.
§ 16 Within the framework of the Website the User may lead to the implementation of the Transaction by means of:
a limit order,
a market order.
§ 17 The limit order consists in the sale or purchase of the Cryptocurrency at a price defined by the User placing an order. In such a situation the Transaction will be implemented only if a given price threshold indicated by the User placing the order is reached. The purchase order will also be performed when the price is lower than the one indicated by the User placing the purchase order. The sale order will also be performed when the price is higher than the one indicated by the User placing the sale order.
If the purchase or sale order is not implemented immediately (i.e. if it awaits the appearance of a corresponding sale order by another User, at the expected or the lower price, at the Stock Exchange), it is considered a pending order at the Website.
To place a limit order, the User should first press the "LIMIT" button and then the "PLACE PURCHASE OFFER" or "PLACE SALE OFFER" button after the selection of a relevant Fund to constitute the object of the offer concerning the Transaction.
§ 18 The market order consists in immediate implementation of the sale or purchase order at the most favourable (i.e. the lowest in case of purchase and the highest in case of sale) price, rendered available by the Users at the Stock Exchange at a given moment. For the implementation of the Transaction it is necessary to record at least one, appropriately corresponding order of another User at the Stock Exchange.
The market order may be implemented in parts, by means of a sequence of Transactions, each one of which will be assigned to a different price in case if it is not possible to cover the entire order with a single offer of another User, properly made available at the Stock Exchange.
In order to place a market order, the User should first press the "MARKET" button and then the "PURCHASE" or "SELL" button after the selection of a relevant Fund to constitute the object of the offer concerning the Transaction.
Maker and Taker, respectively, are a party to every Transaction.
Pursuant to applicable legal regulations, the Supplier informs the Users that they are not entitled to withdraw from the concluded Transaction.
§ 20 The payment for using the Website services to the Supplier is commission-based and it is determined in the following amount, calculated on the value of the object of the Transaction:
a. For Transactions, the object of which is the exchange of Cryptocurrency for another Cryptocurrency: The commission charging the Maker being a party to a given Transaction: 0.0% of the value of the Fund constituting the object of the Transaction on the side of the Maker; the Commission for the Taker being the party to a given Transaction: 0.1% of the value of the Fund constituting the object of the Transaction on the side of the Maker.
b. For Transactions, the object of which is the exchange of Cryptocurrency for Fund or vice versa:
The commission charging the Maker being a party to a given Transaction: 0.0% of the value of the Fund constituting the object of the Transaction on the side of the Maker; the Commission for the Taker being the party to a given Transaction: 0.25% of the value of the Fund constituting the object of the Transaction on the side of the Maker.
Fees due to the Supplier shall be settled by deducting the commission remuneration with the value of a particular Fund constituting the object of a given Transaction on the side of the User. Deduction will be made immediately as of the moment of conclusion of the Transaction and in effect the value of the balance assigned to the Account and updated with the amount of the commission due to the Supplier, as a consequence of the Transaction finalization, will be reduced. Deduction does not require any additional statements of Parties in this respect.
The Supplier expects temporary promotional actions. To use a promotional action it is necessary to enter a relevant, previously obtained promotional code. Upon entering it, the User will not be charged with the commission on the implemented Transaction, unless the rules of the particular promotional action stipulate otherwise.
§ 21 In order to withdraw Funds assigned to the Account balance, the User should use the "Withdraw" button. It is necessary to indicate the access address for a given Cryptocurrency in accordance with the rules of its use in trading.
In connection with the fact that the Website does not enable settlements in funds other than Cryptocurrencies - any funds which the User stored at the Website, including as prepayment for the purchase of Cryptocurrencies, shall be withdrawn to the bank account assigned to the User account by 31 March 2018.
§ 22 To avoid doubts, the Supplier explicitly indicates that it is not a party to the Transaction but just an operator intermediating in the conclusion and settlement of Transactions.
The Supplier shall not be liable for the acts of Users.
It is forbidden to use the Website for illegal purposes, with particular consideration of acts related to money laundering or financing of terrorism.
§ 23 Bearing in mind the will to counteract money laundering and financing of terrorism operations, the Supplier reserves that in a situation of substantiated suspicion of a crime, with particular consideration of a crime stipulated in Article 165a of the criminal code or Article 299 of the criminal code, as a consequence of an application or in accordance with the content of any authorized body exercising state power, it is possible to withhold the implementation of the Transaction and to freeze the access to the account. Withholding of the Transaction implementation or freezing of the User Account may also take place at a substantiated request of the bank or another financial institution in accordance with absolutely applicable legal regulations. While the access to the Account is frozen, the possibility of using the Website services is suspended.
§ 24 Due to internal rules of Cryptocurrency trading, with particular consideration of the rule of blockchain network functioning, the Supplier informs that it has no impact on the time of transfer of Cryptocurrencies in relations with Users.
§2 Life of the agreement**
§ 25 The agreement on opening of Account is concluded for indefinite period of time.
The User may terminate the Agreement on opening of Account at any time, with immediate effect by means of sending the notice of termination via e-mail to the e-mail address [email protected] or in another legally admissible manner.
The Supplier may terminate the agreement on opening of the Account upon a 14-day term of notice in the event if:
the Supplier's liquidation is commenced,
The Supplier shall take a decision on the termination of the Website operation due to, in particular, the fact that further running of the Website is no more profitable.
The termination should be sent via e-mail to the User's e-mail address given at the Website.
The Supplier may terminate the agreement on opening of the Account with immediate effect in the event if: the User breached one of the provisions of § 7 section 2, § 9 section 4, § 22 section 3 of the Regulations. The termination should be sent via e-mail to the User's e-mail address given at the Website.
In case of the termination of the agreement on keeping the Account, the Supplier shall cease rendering of services within the framework of the Website.
§ 26 Complaints concerning rendering of services may be filed with the Supplier:
via e-mail at the address: [email protected],
by post to the address indicated in letter c above,
The complaint should include the User's data necessary for sending the information on the consideration of the complaint and the description of irregularities in the service rendered by the Supplier or incorrect operation of the Website.
The Supplier shall consider the complaint and inform the User about the result within 30 days from the date of receiving the complaint.
VII. Personal data
§ 27 For the purpose of using services available at the Website, the User must fill in appropriate forms. It is required to provide personal data in the forms.
Provision of personal data is voluntary, however it is necessary for the use of services offered at the Website,
Any personal data given by the User to the Supplier are processed in accordance with the requirements defined by the Polish law.
§ 28 The Supplier shall be the personal data administrator.
The Suppler may entrust the processing of Users' personal data with another entity, based on an agreement concluded with such an entity.
§ 29 The User shall have the right of access to their personal data and may correct the data.
§ 30 The Supplier processes Users' personal data and uses them in the scope and for the purpose necessary for the implementation of services offered through the intermediary of the Website, including for the purpose of consideration of the complaint.
§ 31 Personal data gathered by the Supplier may be transferred to state authorities authorized under applicable legal regulations.
§ 32 The Supplier shall use technical measures, required under valid regulations on personal data protection, which prevent unauthorized parties from obtaining and modifying personal data sent by electronic means.
§ 33 The Supplier may register the User's IP address at which they will use the Website.
The Supplier stores cookies at the User's computer or access device and then obtains access to information contained therein for the following purposes: statistical, analytical, marketing, assuring correct Website operation and, in particular, maintaining of the session after logging in and for the analyses of the User's behaviour in the Website.
§ 35 The Supplier shall inform the Users that there is the possibility of such configuration of an Internet browser, computer or access device that prevents the storage of cookies at the User's computer or access device.
The Supplier indicates that cookies may be removed by the User, after they were saved by the Supplier, by means of: appropriate functions of the website, programmes used for that purpose or the use of relevant tools available within the framework of the operating system used by the User.
Information on the methods of removal of cookies in the most popular Internet browsers may be found at the following links:
Internet Explorer: http://support.microsoft.com/kb/278835/pl,
§ 36 The Supplier also informs the Users that the change of configuration of the Internet browser, computer or an access device, which prevents or limits the storage of cookies may cause the limitation of functionality of services rendered. Deletion of cookies while rendering the service may lead to similar effects.
VIII. Final provisions
§ 37 The Supplier informs that an on-line system platform for the settlement of disputes concerning remotely concluded services between consumers and entrepreneurs may be found at the following link: http://ec.europa.eu/consumers/odr/. The platform constitutes the point of access for Consumers and entrepreneurs who would like to use out-of-court settlement of consumer disputes relating to on-line transactions.
§ 38 The Supplier shall have the right to unilateral change of the Regulations on principles defined by the provisions of this clause and only in case of occurrence of one of the following causes:
introduction of new services, connected with the object of the Website activity, by the Supplier,
development of the Website capacity,
change in legal regulations which cause the necessity of adjusting the provisions of the Regulations thereto, in particular the change of regulations on consumer protection, rendering services by electronic means, personal data protection, counteracting money laundering and terrorism.
In case of occurrence of one of the causes mentioned above, the Regulations may be changed in the scope which is necessary due to the cause in question.
In case of exercising the aforementioned right, the Supplier shall send to the Users, to the e-mail addresses indicated at the registration, information on the planned change of the Regulations along with a link to the new contents of the Regulations. Information will be sent to the Users at least 14 days prior to the date of the planned changes coming into force.
The User who does not accept the planned changes may terminate the agreement on opening of Account on terms indicated in provisions of § 25 section 2 of the Regulations. If the User does not terminate the agreement on opening of Account prior to the date of the new contents of the Regulations coming into force, the new contents become binding for the User as of the date indicated as a date of the new version of the Regulations coming into force.
§ 39 The Supplier informs that due to the necessity of performance of maintenance or improvement works, the operation of the Website may be temporarily suspended. The performance of the aforementioned works shall be taken up as a result of a relevant message addressed at Users in the form of an e-mail or a reminder at the Website home page at least 3 days in advance.
§ 40 As regards Users who are not consumers, any disputes between such Users and the Supplier shall be subject to the jurisdiction of the Polish courts. Such cases shall be settled by the Polish court with competent jurisdiction for the Supplier's seat.
The provisions of the preceding section shall not apply to the Users being the Consumers.
§ 41 Agreements concluded between the Supplier and the User who is not a consumer shall be governed by the Polish law. Agreements concluded between the Supplier and the User being a Consumer shall be governed by the Polish law subject to the fact that the choice of the applicable law does not deprive the Consumer of the protection granted thereto under regulations which cannot be excluded by way of agreement, under the law, which would be applied but for the choice of the Polish law.
§ 42 Regulations are available at the website and at the Supplier's head office.
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