Kriptomat’s Referral Program Terms and Conditions

1. DEFINITIONS 

Kriptomat (also “We”, “Us”, and similar) refers to FintechX OÜ, Estonian registry code 14424637.

New User means a user who has not yet registered to Kriptomat.

Referrer means a User of the Kriptomat platform who introduces another person to be a User by a respective referral link subject to these Terms and Conditions.

Referee means a person to whom a Referrer sends the Referral Link. 

Referred User or Referee means a person who registers himself as User using the unique referral link sent by the Referrer.  

Referral Link means a unique link (code) in the User’s Kriptomat account that is to be shared with other persons in order to become New Users. 

Referral Program means a Kriptomat system that incentivises Users to recommend our products and services through a personal invite within their own network (family, friends, and others) based on these Terms and Special Referral Promotions managed under these Terms. 

Referral Reward refers to a monetary or non-monetary reward credited to the Kriptomat account of either the Referrer, the Referred Person, or both, contingent upon successful registration and activity by the Referred Person, as specified in these Terms or any applicable Special Referral Campaigns. The reward is issued only upon fulfilment of the qualifying conditions outlined in the Referral Terms, including but not limited to the completion of required transactions by the Referred Person.

Referral Rewards Cap means the maximum number of referral rewards that a Referrer may earn within a specified period, by default set to five (5) rewards within a rolling 30-day timeframe if not otherwise specified by a Referral Program.

Referral Terms means Kriptomat’s Referral Program Terms and Conditions and Special Referral Promotions if and as applicable occasionally.

Special Referral Promotion means special terms applicable to the Referral Program as published occasionally by Kriptomat.

Trade Credit Voucher means a credit generally worth €25, issued to Invitees if their Referrer has reached the Referral Rewards Cap.

URL means a unique link generated to the Referrer by Kriptomat for participating in the Referral Program.

User means a user of the Kriptomat platform.

Acceptance of Terms and Conditions

By participating in the Kriptomat Referral Program, you agree to fully accept and comply with the Referral Program Terms and any applicable conditions communicated to you within Special Referral Promotions. Should you not agree with any part of these terms, you may not use the Referral Link or participate in the Program.

Failure to comply with these terms may result in disqualification from the Referral Program, forfeiture of referral rewards, or account restrictions.

Right to Modify Terms and Program

Kriptomat reserves the right to change, cancel, suspend, or modify any aspect of the Referral Program or the Referral Terms at any time and at its sole discretion. Users are responsible for reviewing these terms regularly. Notification of changes will be posted on Kriptomat’s website and may also be sent via email. Continued participation in the Referral Program following such changes constitutes acceptance of the revised Terms.

2. ABOUT REFERRAL PROGRAM

How does it work?

KriKriptomat provides you with a Referral Link in your Kriptomat account, which you can share with others to invite them to become new Users.

You can customize the distribution of the Referral Reward by creating a link that rewards your friend with 15 EUR worth of BTC and rewards you with 5 EUR of BTC. Alternatively, you can choose to receive the full sum of rewards and the Referee receives nothing, or vice versa. The reward will be paid directly into your and/or the Referee’s Kriptomat wallet.

The Referral Reward will be distributed as described above when all of the following criteria are met:

• The Referred User registers on the Kriptomat platform via your Referral Link; and
• Within 30 days of registration, initiates a buy or sale transaction(s) of any cryptocurrency in the total value of 100 EUR (one hundred euros) or more; and
• The Referred User maintains a crypto balance in the value of a minimum of 100 EUR (one hundred euros) for a minimum of 30 days from meeting the minimum requirement of the transaction value.

The referral reward is one-time for each Referred User.

Upon meeting the above-listed criteria, Kriptomat will credit you the Referral Reward within 15 days at the latest.

The Referral Reward will be paid only in cases where both the Referrer and the Referee are eligible to participate in the Referral Program by Referral Terms. If either of the two is not eligible to participate in the Referral Program or not eligible to receive the Referral Reward, Kriptomat may decide not to provide the Referral Reward.

Special Referral Promotion campaigns may apply from time to time and may define different rewards and/or conditions as valid for the set period. You must check the referral conditions before participating in the Referral Program. 

3. SPECIAL REFERRAL PROMOTIONS

Kriptomat may occasionally run Special Referral Promotions with specific terms and conditions that will apply for the duration of the promotion. If these terms differ from these Terms, the Special Referral Promotion terms will override these Terms.

Additionally, Kriptomat may agree on special referral terms with individual Referrers, and these terms will supersede any other conditions.

4. ELIGIBILITY

How can you become a Referrer?  

Only Users may participate in the Kriptomat Referral Program. Further, to be eligible to participate in the Referral Program you are required to maintain your Kriptomat account in good order and in accordance with the provision of Kriptomat General Terms of Service and participate in the Referral Program with fair intentions of promoting our services (please see more about Referral Program misuse below). 

How can you become a Referee? 

Eligibility Requirements for Referral Rewards

To qualify for the referral reward, the Referred User must be a New User who registers within 30 days of clicking on the Referral Link. They must also complete the following actions within 30 days of registration:

• Buy or sell cryptocurrency totaling at least 100 EUR.
• Maintain a minimum crypto balance of 100 EUR for 30 days after the initial transaction.

Referral Links and Reward Split

Referred Users can only use one Referral Link. The default reward split between the Referrer and Referee is 50:50, but the Referrer can adjust this.

Referral Rewards Cap

Each Referrer can receive up to five (5) referral rewards in any 30-day period (the “Referral Rewards Cap”). This 30-day timeframe starts with the first reward issued and rolls continuously.

Once a Referrer earns rewards for five invitees within 30 days, they won’t receive more rewards for additional invites until the 30-day window ends.

Invitees who sign up after the Referrer reaches their 30-day Referral Rewards Cap will get a 25 EUR trade credit voucher instead of the standard referral reward.

Adjusting the Referral Rewards Cap

Referrers can ask to raise their Referral Rewards Cap by emailing Kriptomat at [email protected]. Kriptomat will decide whether to approve these requests based on each user’s activity and to protect the program’s integrity.

Kriptomat can also change the Referral Rewards Cap for everyone or for specific users to keep the program fair and prevent misuse. Referrers can email to ask for cap adjustments, and Kriptomat will review each request. Kriptomat might raise or lower the Referral Rewards Cap based on the Referrer’s history, activity, and whether they follow the Referral Terms.

Email Notifications for Referral Rewards Cap Status

Invitees will be notified via email to promptly complete the referral requirements to claim the limited remaining rewards when only 1 or 2 reward spots are left for a Referrer within the 30-day period.

Referrers will receive congratulatory notifications to encourage continued participation after successfully referring three (3) and then four (4) users in a 30-day period. The Referrer will receive an email with instructions on requesting a cap increase when the Referral Rewards Cap is reached.

Reward Distribution Logic under Referral Rewards Cap

Before distributing rewards, Kriptomat will verify whether the Referrer has exceeded the Referral Rewards Cap within the past 30 days. If the cap is reached, further rewards will be withheld, and eligible Invitees will receive a 25 EUR trade credit voucher instead of the standard referral reward. These rewards are not recoverable retroactively if the cap is later increased.

5. RESTRICTIONS

What is considered Referral Program misuse and what are the consequences?

As a Referrer, you can invite others to become New Users by sharing your Referral Link with them to open an account with Kritptomat and become our users. 

Referral Links should be used as personal invites and for non-commercial purposes only. If Referral Links are used solely to exploit the reward system, We will restrict your participation in the Referral Program. 

The following actions when using the Referral Link are prohibited:

• Promoting your referral code through paid advertising “Kriptomat” or Kriptomat-related keywords. This includes (but is not limited to) bidding or running ads on search brand keywords that include “Kriptomat” or similar variations or using the Kriptomat brand in your ad copy.
• Promoting the Referral Link through a public site or domain.
• Spamming, mass emailing, or performing any similar mass messaging. 
• Using automated systems, bots, or scripts.
• Encouraging the invitees to register and make a transaction solely to exploit the reward system, without the actual purpose of becoming a Kriptomat customer; such statements are made publicly or deducted based on further behaviour of the New Users.
• Using the Referral system solely as a source of revenue. Kriptomat reserves the right to decide in its sole discretion whether the Referrer is exploiting the Referral Program lacking the basic intention of being a customer of Kriptomat. 
• Using the Kriptomat brand, the Referral Program, our services, and the Kriptomat platform in connection with any offensive, abusive, harassing, or defamatory content or in any such manner contrary to the principles of fairness and integrity. Kriptomat reserves the right to determine such misappropriate use at its sole discretion. 

In case We detect such inappropriate use of the Referral Program, Kriptomat reserves the right to:

• Deactivate your Referral Link at any time and at its discretion
• Disable rewards resulting from such activities, resulting in Referrers becoming ineligible for referral payments
• Limit the use of the Referral Link (e.g. defining the maximum number of link shares)
• Disqualify any actions performed by the Referrer or Referee and not reward any Referral Rewards, or if a Reward has already been rewarded, take the reward back or limit the withdrawal of the value of the reward at its sole discretion 
• Accept and implement other measures (s) to protect the interest of Kriptomat and the Referral Program. 

Cap Evasion Prohibited

Any attempt to bypass the Referral Rewards Cap, including but not limited to creating multiple accounts or incentivising ineligible users, is considered a violation of the Referral Program terms. Violation of this policy may result in suspension or termination of referral privileges.

Termination, Restriction, and Suspension of Program Participation

Kriptomat may, in its sole and absolute discretion, terminate, restrict, or suspend any user’s participation in the Program for breach of these Referral Terms or if We find that your method of or intentions for participating in the Referral Program do not meet the conditions and purpose as defined in the Referral Terms, or We suspect any fraud or any manipulation of the referral rules or abuse of Referral Program/campaign. Kriptomat, therefore, reserves the right to suspend your account or to deny, cancel the distribution, deactivate your Referral Link, deduct any Referral Rewards from your Kriptomat account, or decline being rewarded if it determines or believes that the Referral Reward was received fraudulently, in manipulation or violation of the Referral Terms, or by an error, including technical errors. 

We may also restrict your participation in the Referral Program if your country of nationality is excluded from the countries where We enable the Referral Program (applicable in case We restrict certain countries from the Referral Program). 

6. GENERAL 

• You are solely responsible for reporting any Referral Program earnings to the relevant tax authorities in accordance with your country’s tax laws. Kriptomat will not report earnings directly to tax authorities unless legally required to do so. If legally required, Kriptomat may disclose your earnings information to relevant authorities upon request.
• Your referral history can be viewed in your Kriptomat account.
• If the Referral Program is terminated, any successful referrals made prior to termination will still receive the reward.
• For more information about Kriptomat’s terms and conditions, please refer to our Terms of Service.

Compliance with Regulation (EU) 2023/1114

Kriptomat affirms that this Referral Program is conducted in accordance with Regulation (EU) 2023/1114 of the European Parliament and of the Council on markets in crypto-assets (MiCA). All aspects of the Referral Program, including the issuance and distribution of rewards, the handling of users’ crypto-assets, and the disclosure of program terms, are designed to ensure compliance with applicable rules on transparency, user protection, and financial stability as mandated by the Regulation.