Kriptomat Terms of Service

Welcome!

This page is dedicated to informing you about our mutual rights and obligations concerning the services provided to you through our webpage and mobile app. It is important you understand the terms under which we offer our services, so you should read the entire Terms of Service carefully before using our services, that is before entering into a business relationship with us. In some parts, we added a shorter explanation marked with a frame as we understand legal terminology might not be everyone’s favourite reading genre. In case you have any questions, our customer support team will gladly help you in the support chat window.

Acceptance of Terms of Service

These Terms of Service (“Terms”) represent the agreement between you (the “Client”) and FintechX OÜ (“Kriptomat”) and govern your use of our Services. By using our website, registering for the Kriptomat Account, using a mobile application, or any other services, products, or any other data or materials available through our website https://kriptomat.io/ (“Website”) or mobile application (“Services”), it is considered you agree with these Terms of Service, acknowledge them,  and you are entering into a business relationship with us. 

The term “we”, “Kriptomat platform”, “us”, and “our” refers to Kriptomat. Depending upon the context, “Kriptomat” may also refer to the services, products, Website, content, or other materials provided by Kriptomat. The terms “you”, “user”, “client”, and “Website visitor” refer to you as a user of our services. 

These Terms incorporate the Privacy Policy and Special Note: Risks of Trading Virtual Assets and Appendices, as well as any other policies published on the Website referring to these Terms. By accepting these Terms, you agree with and accept all such notices and policies published on the Website.

IN CASE YOU DO NOT AGREE TO THESE TERMS OF SERVICE, DO NOT ACCESS THIS WEBSITE AND DO NOT USE OUR SERVICES.

When you click on “I agree with the Terms of Use and the Privacy Policy”, these Terms become a legal agreement between you and us. 

Kriptomat reserves the right to change, add, or remove parts of these Terms at any time and at its sole discretion. We will inform you of the changes in advance through your Account, or via Email notification. It is your responsibility to familiarise yourself with the amended Terms. Your continued use of Services following the entry into force of amended Terms shall constitute and be interpreted as your acceptance of the changes, and your subsequent use of Services will be subject to the amended Terms.

These Terms include appendices that are an integral part of these Terms, in particular, applicable to our specific product and services. It is considered that you consent to them by accepting these Terms. 

The version of the Terms is indicated in the last section of the Terms.

If you have any questions or comments, please contact us at [email protected]. You agree that your feedback may be used to improve and/or modify our Website and Services without any limitation or obligation for any payment, and you transfer to us all IP rights regarding the use of your opinion and suggestions, unlimited in time and territory.

About Kriptomat and Our Services 

FintechX OÜ is an Estonian private limited company, having its statutory seat at Pärnu mnt 31, 10119 Tallinn, Estonia, company number 14424637, and provides services under the Kriptomat trademark. Kriptomat owns the domain https://kriptomat.io and is a platform for buying, trading, investing, and custody of crypto assets.  

We encourage you to learn about crypto regulation as its primary aim is to assure the companies earn your trust and are capable of providing services following the best standards. We transparently communicate about our company and our licences and registration and you can check our at-all-times updated page to have complete information about us. Never settle for less. You should at all times know who you are doing business with and to whom you trust your assets.

Licence and Registrations

Our primary crypto asset service licence is an Estonian licence issued by the Estonian Financial Intelligence Unit, but we strive to register as a crypto asset service provider in other markets where we are active and where local jurisdictions support the registration of foreign crypto asset service providers. This is important as being present in a market leaves a footprint, and we are dedicated to respecting local regulations and providing our clients the services in accordance with local regulations and good practices.

Our Services are provided based on our primary termless licence, issued by the Estonian Ministry of Finance, Financial Intelligence Unit (“FIU”), No. FVT000310

(LINK TO PUBLIC REGISTRY), for the provision of the following services:

• Providing services for exchanging crypto assets against a fiat currency;
• Providing services for exchanging crypto assets against other crypto assets;
• Providing a crypto asset wallet service;
• Providing a crypto asset transfer service.

The Company is subject to the supervision of the Estonian Financial Intelligence Unit based on Estonian Anti-money laundering and other regulations. 

Kriptomat also holds several secondary registrations for providing the crypto asset services listed above in the following countries and with regulating bodies as indicated below:

• Greece 

Hellenic Capital Market Commission

Registered provider of exchange services between virtual currencies and fiat currencies and Custodian wallet provider, entry into the registry 25th May 2021.  

• Spain 

CNMV – National Securities Market Commission

Registered Virtual Assets Service Provider, registration number D718 – Bank Of Spain registry, entry in the registry 21st October 2022.

• Poland 

Tax Administration Chamber

Registered Virtual Assets Service Provider. Registration number RDWW-408, Virtual Currency Business Register,  entry in the registry 9th August 2022.

• Croatia

Croatian Financial Services Supervisory Agency

The company is included in the records of companies from EU member states that submitted a notification to Hanfa about the provision of services related to virtual currencies in the territory of the Republic of Croatia. Confirmation from the Croatian Financial Services Supervisory Agency, Anti-Money Laundering Office, entry in the registry, 18th July 2023. 

• France

Autorité des marchés financiers (AMF)

Registered 5th September 2023, registration number E2023-095.  

Kriptomat is registered as a Digital Asset Service Provider by the Autorité des marchés financiers (AMF) with the approval of the Autorité de Contrôle Prudentiel et de Résolution (ACPR).

The following services are available to French customers:

• Digital assets custody 
• Purchase/sale of digital assets for fiat and vice versa 
• Trading of digital assets against other digital assets
• KritpoEarn 
• Intelligent Portfolios

Services not specifically listed in this above are not available to French customers.

Other specifics applicable solely to French customers: 

• LIABILITY FOR OUTSOURCED SERVICES 

Our services also include some services provided by third parties (outsourced services). We take full responsibility for the services we provide through outsourcing as if we were providing the services directly ourselves, subject to limitations from the previous paragraph. When we outsource services, we take full responsibility for ensuring the same level of quality and commitment as if we were providing them ourselves.

• DOUBLE VERIFICATION REQUIREMENT

Upon onboarding, you are required to verify your identity through our Know-Your-Customer (“KYC”) verification process and make a bank deposit in the minimum amount as identified in the interface. Please note that you cannot use our services until the double verification is successfully performed. After a successful KYC verification and receiving your bank deposit, you may start using our services. 

Other Services

In addition to our regulated services listed above, we provide other services and products as indicated on our Platform. We do not exchange any crypto assets that are or might be considered securities. 

For the avoidance of any doubt, we do not provide financial investment services. Any information, service, or product available on our Platform does not represent investment advice and must not be interpreted, considered, or construed as such. 

Kriptomat does not provide financial payment services of any kind and we are not a payment institution. The fiat that you deposit to our bank account and that is visible in your Account, will be considered prepayment, and fiat visible in your Account after selling crypto assets will be considered yours available to withdraw to your bank account.  The same applies when you initiate an exchange between different crypto assets. The assets visible in your Kriptomat account are your assets, owned by you and kept in our custody, and represent our liability towards you, the fulfilment of which you initiate with the transaction order.

The Company facilitates all fiat transactions via its authorised electronic money institutions, specialised financial institutions, and/or payment service providers, with which it has formed special arrangements for this intent. 

Translation of our Services 

To ensure our Services are fully understood, and, above all, to assure accessibility of our Services, some sections of our Services have been translated into other languages. We reserve the right to add or remove certain languages at our sole discretion and at any time. Our official languages are Estonian and English. If there are any discrepancies between English and other languages, the English language prevails. For any formal communication (eg. with banks, police authorities, etc) communication in the English language is required. 

Some Website or Service sections may not be translated and may only be provided in the English language. The translations are an expression of customer care, and one of the fraud preventive measures, aimed to ensure you understand who we are and the nature and purpose of our Services. 

You are obliged to ensure you understand our Services, notifications, and overall communication. In no event shall we be held responsible for your misunderstanding of the Service due to translation unavailability or non-understanding of our official languages. If you at any point or in any part do not understand our Services, specifically the consequences of using our Services, you must not use our Services. 

To help your experience in visiting our Website and/or using our Services safely, we use translations into several languages as we happily use the advantage of the translation tools. Yet, we remain an Estonian crypto company, so consider this when entering into a business relationship with us.

Important Notice: 

Subpages in different languages ​​represent only translations of the Website www.kriptomat.io and not individual domains. The translations of the Website are intended solely to help with understanding the content of Services and a mere translation shall in no case represent an active solicitation. By enabling translated Services we wish to increase the security and awareness of the clients (for more information please refer to the Fraud Prevention section), however, the clients must be and are considered to be explicitly aware that by accepting these Terms and by using Services, they enter into a contractual relationship with an Estonian company, and the contractual relationship is regulated in accordance with the Estonian legislation, and further subject to countries in which we hold CASP registrations. 

Outside of markets where we are licenced or hold CASP registration, we might not be permitted to actively solicit our Services. You represent and warrant that regardless of the translation and language used to communicate, you chose to access and use our Services on your initiative and not as a result of our solicitation and/or promotion.

Restrictions on the Services Availability 

Depending on your country of residence, statutory seat, or place of incorporation, you may be restricted or prohibited from using some or all the functions of our Services. Our Services are to be used solely by clients, natural or legal persons, who are residents, are incorporated, or have their real seat in the country where crypto assets are legal and not subject to prohibition or restriction. You are responsible for following those rules and the laws of your country of residence and/or country from which you access our Services. More information about the availability of our Services and restricted or prohibited areas is available at the following link

For security or technical reasons, certain crypto assets may not be transferred outside the Kriptomat Account.

Certain functionalities of specific crypto assets may be limited. In the process of listing crypto assets, Kriptomat is following its internal listing policy and safety requirements, regulations, and good market standards. Therefore, some crypto assets (specifically, but not exclusively, for privacy tokens) may only have a buy and sell option, without the option to transfer them outside your Kriptomat Wallet. You will be notified about this before placing a buy/sell order and will have to agree with it beforehand.

Creating Kriptomat Account

Step 1: Registration  

You can create a Kriptomat Account by registering on our platform by providing your email, and full name and creating a password of your choice. Registration is also possible through Google and/or Apple accounts. All information and instructions regarding the registration process are available on the registration page. For more information please visit the tutorial page How to Open a Kriptomat Account. 

By creating your Kriptomat Account, you verify that:

• You fully understand and accept these Terms;
• You fully understand and accept our Privacy Policy;
• You are a minimum of 18 years of age;
• In case you are applying for a legal entity, you are its legal representative or are duly authorized to act on behalf and in the name of the legal entity; 
• You have the full legal capacity to accept these Terms and enter into a business relationship with us;
• The purpose of entering into a relationship with us is to use crypto-related services for yourself and you are not under control or instructed to use our services by third parties;
• You are a resident of a country where crypto assets are not prohibited or restricted;
• In the case of a legal entity, you represent an entity that is incorporated or has a real seat in a country where crypto assets are not prohibited or restricted; 
• Our formal language is English. 

Two-Factor Authentication 

During the setup of your account, you are required to set up two-factor authentication (2FA). You can get more information about the 2FA in the article “What is two-factor authentication?”. 

Step 2: Verification of Your Identity 

The verification process is also known as the Know-Your-Customer process. Identity verification is a mandatory step and is required by regulatory obligations applicable to us, commencing from KYC rules, anti-money laundering, and combating the financing of terrorism, fraud, and other financial crime prevention. We will guide you through the verification process of the application. For more information please read KYC / AML / CTF POLICY and Privacy Policy. 

Until we successfully verify your identity you will not be able to use your Account and or Services, and it shall be in our sole discretion to decide to validate your account. You are obliged to provide us with true and accurate information. Should we discover any attempt to provide falsified information, we might submit a report to the competent authority. Furthermore, you are obliged to inform us in case of a change concerning such information. Upon the expiry of your identity documentation, we will request to provide us with valid documentation. 

Kriptomat Account 

Every user has their individual Kriptomat Account and every person can have only one verified account. The Account is displaying fiat and crypto asset balance. For the avoidance of any doubt, the Account does not represent a fiat money account, and the fiat balance solely shows the balance of fiat money available to the user for the purpose of either purchasing crypto assets or for withdrawal to their bank account and/or card. 

All prices on the Kriptomat platform are shown in euros (EUR). Fiat transaction orders are only supported in EUR currency.  

If other fiat currencies will be added as an option for fiat deposits, they shall be visible in the Account interface. 

The crypto-to-crypto asset exchange service is enabled for the exchange of any crypto asset available on the Kriptomat platform in pair with one of the following crypto assets ETH, BTC, and USDT (crypto asset pair trading). However, we reserve the right to remove any pairs at any time.  The exchange value will be seen when placing an order, however, you hereby explicitly agree the final exchange value will be seen after the order is processed due to the time difference in transfer execution during which the value of the crypto asset may change. 

Funding Your Account 

Fiat funding

You can fund your Account by transferring fiat via a bank transfer, a credit/debit card payment, or using other available payment options (Skrill, Neteller, Zimpler, and others). If using a credit card or other payment methods other than bank transfer, you can make a purchase in your currency and the conversion into EUR currency will be automatically made by the payment processor subject to possible additional cost on your behalf. 

The list of supported countries is available on our Website, the section Supported counties with listed funding and withdrawal options. 

When making a credit card deposit, you guarantee to us that you own the credit card or that you are authorized to use it. If we suspect that the used credit card is not yours, then this can result in us freezing your assets and disabling your account. Suspicious transactions may be reported to the law enforcement authorities.

The purchase may be subject to the minimum purchase amount as defined in your Account interface. 

Our bank account details and payment options are available in the Account interface under the deposit section displaying the available methods of deposit. When making a deposit please include your personal reference number because it serves as your payment identifier and significantly helps to process your deposit quicker. 

You will receive a notification when the transaction has been successfully processed and the fiat balance is available on your account. We will credit the amount received (the “Fiat Account Balance”) to your Account, displayed under Fiat balance. The Fiat Account Balance is equivalent to the Fiat amount Kriptomat received from you, deducted for the fee as indicated in the interface. 

All transactions are subject to AML & CFT checks.  

Fiat deposits are usually completed in a few hours or minutes. However, it can take a longer time subject to the banking processing systems. We have no control over the banking processing of the deposit, and we cannot guarantee a minimum time to receive the deposit. We cannot be held responsible for any damages related to your deposits. 

Deposits and withdrawals are subject to certain fees and limitations, displayed in your Account interface. For more information please refer to the Fees and Limits section. 

Crypto funding

You can also fund your Account by transferring crypto assets to blockchain wallet addresses which are controlled by Kriptomat (“Wallets”) in the course of our custodial services. When we receive your crypto deposit, the amount is displayed in your Wallet as crypto balance, whereas your assets are transferred into our custody, namely secure cold storage.  

To make our services as convenient for you as possible, we are constantly updating and adding new payment methods and features. Please always refer to information in the Account interface as the information there is up-to-date and valid.

You can make deposits from your different accounts and credit cards, subject to   AML & CTF-related limitations. You also represent and warrant that you are not on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List or other administrative law enforcement agencies. 

Rejected deposit 

Your fiat deposit might be rejected on our side or the bank’s side.

We will reject the deposit and return the asset to the sender if the deposit was made by a third party. Your family and friends are also considered third parties, except in cases where you have a joint bank account. We reserve the right to charge refund process expenses and make a deduction from the third-party deposit.

We may also reject the deposit for other reasons subject to our unilateral decision, for example, and not exclusive to an indication of certain risk factors, performing a service on behalf of someone else, or an indication of third-party interference. 

What if your bank rejects the deposit? 

If your bank rejects the processing of your deposit on your account there are two most common reasons: 

• the bank does not allow transactions with crypto-related companies, either due to internal policy decisions or based on such instruction from the national banking authority in the form of a general crypto ban, or 
• the bank disables the transaction with us due to their internal risk indicators or fraud suspicion. 

We put a serious fight against fraud, however, there is a small percentage of cases where we cannot prevent fraud, mostly in situations when the clients enable full remote access and control of their user accounts to fraudulent brokers, when clients provide us with false information or situations related to credit card misuse. If the client makes a complaint to the bank or if the enforcement authority makes an official inquiry, some banks might put our bank account on the so-called “black list”, and transactions to listed bank accounts on the “black list” are automatically rejected. That is the reason why in some cases you will see a notice that the “transaction was declined due to fraud suspicion” or similar notice. That is because your bank wants to protect you and we respect that. 

In no case does the bank deposit rejection demonstrate the illegitimacy of our company. Having a bank deposit rejected is a bad user experience and is not consistent with our customer focus principle, but we understand that the bank only wants to protect its customers. Kindly note that we are unaware of any issue with the bank until we receive a notification from you on the deposit rejection. Once we become aware of the issues with the bank, we will reach out to the bank and provide a comprehensive introduction to our business, so that they can verify our business. We encourage you, and we would highly appreciate it if you notify us in case you have any issues with sending a deposit through your bank. We will then further coordinate with the bank to ensure that you will be able to transact with us smoothly.

Please send us the information about any issues you have concerning transactions with our company to our support team at [email protected]. 

Withdrawal Orders – Fiat 

The bank accounts from which we received your fiat deposits are considered verified if the name of the bank account owner matches your name (verified Kriptomat account). 

Please note that you can only make withdrawals to your verified bank accounts; withdrawals to other bank accounts are not possible. 

You can make a withdrawal to your credit card account as well, in which case you are obliged and you guarantee to us that the credit card is yours. You can only make a withdrawal to a credit card account you have previously used and saved for purchase/deposit. 

Withdrawal Orders – Crypto 

You can withdraw (send) your crypto assets to a crypto wallet of your choice. All transfers are at your sole discretion and sole responsibility. Be careful to always enter the wallet address to which you wish to transfer your crypto assets.

We shall in no event be responsible for the transfer of your crypto assets outside your Kriptomat account.

Ongoing Monitoring 

During our cooperation, we will be monitoring your account activities subject to anti-money laundering, terrorist financing, account security and fraud prevention.  

In certain cases, in particular to ensure your safety, we may apply additional checks to eliminate the doubt of the possible influence of third parties to open an account with us, or on your transactions, including their purpose. Among other things, we will specifically investigate cooperation with financial advisors/brokers. One of the measures is the ID confirmation photo (or IDCP) requirement requesting you provide an ID selfie photo with a hand-written statement that your cooperation with us is based on your initiative, that you are fully aware of the transaction consequences,  and that you are not under the influence of any third party. We may also require additional information regarding the destination wallet. Please make sure that you provide us with accurate information and that you do not withhold any information on the purpose of the withdrawal and any links with third parties. 

We know our questions and requirements may not be perceived as a pleasant user experience, but we ask for your understanding and trust in our experience as we only want to make sure that you are safe and that our platform is not misused. If you do not cooperate, our security protocols are heavily impaired, so we ask you to cooperate and participate in building a safe and reliable place for building your crypto portfolio.

Suspending or Restricting Your Account Functionalities 

Subject to our internal AML and security measures we may temporarily or long-term implement various restrictions on the functionality of your Account. 

Based on your Account profile, provided answers, your transaction analysis, and other information received from you or third parties, we may–based on our sole discretion–decide to disable one or more of the following functionalities within your Account:

• Crypto asset withdrawals to external wallets
• Fiat to crypto asset exchange transactions
• Crypto asset exchange to fiat transactions 
• Crypto to crypto exchange transactions
• Credit card withdrawals
• Fiat withdrawal 
• Crypto asset deposit
• KriptoEarn
• Vault
• Credit card deposit
• Instant deposit (SEPA)
• Credit card withdrawal.

Although the most common reason for such restrictions is to ensure your safety due to the risk of potential fraud, there are other reasons as well.

The temporary suspension of certain functionalities may also be due to a pending transaction review, or account review. For more information visit our support article. 

Disabling certain Account features is our sole right and we reserve the right to unilaterally decide on such Account actions. If you decide to exchange crypto assets back to fiat due to the disabled withdrawal option, this constitutes a new transaction. In no case are we responsible for further transaction fees, nor for any possible loss of value (no refund policy). 

Asset Ownership and Our Asset Liability Toward You

We will only use your assets in accordance with your transaction orders. Your crypto assets are securely kept in our custody, and we do not exploit them in any way for our benefit. We only do what you instruct us to do.

You are a beneficial owner of the rights to fiat money and crypto assets displayed in your Account,  kept in our custody. We will maintain detailed records of all your assets kept with us on your behalf.  

At all times we will only act on your instructions in respect to transaction orders and will not use the assets in any other way. The crypto assets entrusted to us within our crypto custody service are managed using an enterprise-grade technology solution to manage and safeguard crypto assets and we do not use them in any other way than in accordance with your instructions/orders. 

We use financial payment service providers to receive fiat from our users and make payments to them. Financial payment service providers do not provide any services that fall within the scope of crypto asset services. Your fiat funds will be held on accounts opened with financial payment service providers and/or liquidity providers under our name together with fiat funds from other users. We do inform our financial payment service providers and liquidity providers of the nature of accounts and their purpose and are considered our segregated accounts used solely for managing fiat funds from our client. Our fiat funds are held separately from our users’ fiat assets on other accounts. 

Your fiat balance is kept in one of our segregated bank accounts which we use solely for clients’ fiat assets or with one of our trusted liquidity providers. Your fiat assets are your assets until you confirm the transaction to use the fiat to purchase crypto assets. Once you initiate and confirm such a transaction the fiat represents the payment for exchanged crypto assets, and in exchange, you receive the crypto assets in the purchased amount, displayed in your Account. 

In the event of our insolvency, including bankruptcy or initiation of a similar liquidity procedure, your fiat assets held in the Account shall be excluded from our bankruptcy estate. Your fiat balance, as recorded in the Account, shall not be considered part of our assets subject to insolvency proceedings. We ensure that your assets are segregated from our own, both in our accounting records and by maintaining them in physically separate, dedicated accounts. This segregation is designed to protect your fiat assets under the relevant insolvency laws. In the case of such financial distress, a clear and expedited process will be provided for you to claim and retrieve your segregated assets. Additionally, this protection extends to any digital or cryptocurrency assets held in custody, ensuring their separate treatment under similar circumstances.

We are the custodians of your crypto assets meaning we offer a service of safekeeping, securing and reporting of your assets. We manage the assets by industry standards, and internal procedures in accordance with our Segregation of Funds Policy. Your crypto assets will be held on your behalf in multiple blockchain wallets and/or on wallets with our liquidity providers opened under our name. Your assets will be held in the same wallet(s) as other users’ crypto assets. When necessary, we add our own crypto assets to wallets with our liquidity providers to ensure fast order execution, however, we keep a detailed record of ownership.

We carefully select our financial payment service and liquidity providers. If a financial payment service provider or crypto liquidity provider becomes insolvent and/or enters into bankruptcy proceedings, your rights to claim compensation will be subject to the specific circumstances, but we cannot guarantee that you will be able to claim compensation directly in your name. We will do our best to protect your interests and assets in such cases and secure your claim against the third-party service provider. 

Order Placement and No Order Cancellation Policy

We will execute your order immediately. Please be careful when placing an exchange order. Once initiated, it is not possible to cancel or change it. Should you wish to make a reverse transaction (e.g. you purchase fiat for BTC and wish to cancel the order and reverse the assets to fiat), that is not possible. You can only make another exchange order from crypto to fiat. Due to the nature of our services, there is no refund option!  The crypto withdrawals-transactions are nonreversible. Once initiated they cannot be revoked and are final.  In case you initiate a refund request with your bank and we deduct that you already sent the purchased crypto to a crypto wallet outside our system, or the refund is unjustified for other reasons, we may request an administrative fee to cover the expenses we had with processing the refund claim. Finally, we reserve an option to deduct such a fee from your account value.

You will receive the purchased crypto asset into your wallet instantly (within a few minutes), taking into account the momentary crypto asset liquidity status of our crypto asset providers and other external circumstances that may affect the speed of crypto asset transfers. In case you do not receive your crypto assets within 24 hours, please contact our support: [email protected].

Due to the nature of transactions, order cancellation, once performed, is not possible. Any refund claims may be subject to fees in which case we will deduct the fee from your Account balance, or make a payment request if no Account balance is at your disposal. 

You are fully responsible for your transactions. Any mistakes, errors, or defects in the course of any transaction, either resulting in partial or total loss of your crypto assets, are attributable solely to you. In no case shall we be liable for any such actions and damages, including any actions pertaining to transfers between crypto addresses, transactions, deposits, or withdrawals, resulting from your actions.  In no case shall we compensate you for any such losses. 

Recurring Buy Order 

As part of our Services, you can set a continuous payment plan for recurring purchases.

Our Recurring Buy option provides you with an option to schedule regular order(s) for future purchases of crypto assets. By setting up a recurring purchase of crypto assets, you authorize us to initiate recurring electronic payments in accordance with your Recurring Buy Order Plan and corresponding payment methods as made available by us and chosen by you. Multiple Recurring Buy Orders for different crypto assets may be set in accordance with limits as set with these Terms. 

To activate recurring crypto asset purchases you are required to activate your Kriptomat Recurring Buy Order functionality by setting your Recurring Buy Order Plan on our platform. Your Recurring Buy Order Plan consists of a selected crypto asset of your choice, your corresponding payment method (credit card, fiat balance), the selected value of Recurring Buy Orders, payment period selection (weekly, bi-weekly, or monthly), and day of Buy. Your Recurring Buy will occur in identical, periodic instalments and based on your period selection as defined in your Recurring Buy Order Plan. You may cancel the Recurring Buy Order at any time. We reserve the right to cancel or decline a Recurring Buy Order at any time without stating the reasons. We may at any time terminate the Recurring Buy Order as a service by providing a notice to you.  

The Recurring Buy option may include certain limitations pertaining to (1) Recurring Buy Order Plans being limited to a certain maximum number; (2) the minimum and maximum value of individual Recurring Buy Order per month; (3) the daily limits (aggregate value of all Recurring Buy Orders per day); (4) the monthly limits (aggregate value of all Recurring Orders per month); (5) payment options, and (6) any other limits as set in the Recurring Buy Order settings. The limit settings are dynamic and may be unilaterally changed by us from time to time. The limits as outlined in the system are applicable. 

In case your bank or credit card issuer is unable to process any payment to us, or you do not have sufficient fiat assets deposited in your Account, we will consider this as a delayed order transaction, followed by a maximum of two additional order attempts within the following 14 (fourteen) days with automatic client notification of the pending order status. If additional transaction attempts are also not successful, the Recurring Buy Order will be automatically terminated and you will receive the cancellation notification. We may charge you for any cost or remedies we incur as a result. 

Authorization to initiate recurring electronic payments in accordance with your Recurring Buy Order Plan on your behalf will remain in full force and effect until you change or cancel your Recurring Order Plan in plan settings or until you provide us with written notice of termination sent to [email protected]. You are required to notify in writing of any changes in your bank account information. Third-party credit cards are not allowed and we will decline any Recurring Buy service in all cases where the owner of the credit card will not match the client.

Closing Kriptomat Account 

You closing your Account: You may close your account at any time by choosing the closing option within your Kriptomat Account, Account information section, or placing an Account closing order to Customer Support, subject to an account balance of 0.00 euros, and following the settlement of any pending transactions. 

Closing your Account by us: We may close or limit your Account on notice and at our sole discretion. We can close, limit, suspend, or freeze your Account partially or completely for the following reasons: 

• Suspicious activities related to your Account, indicating possible relation to illicit activities such as fraud, money laundering, financing terrorism, and weapons of mass destruction financing;
• Attempts to gain unauthorised access to the Website and/or circumvent security features of our Service;
• Violations of these Terms;
• Upon the request of law enforcement or other competent authorities;
• Using our services in a way that is inconsistent with our rules and the purpose of our services;
• Other circumstances that invoke necessary measures for legal compliance and safety;
• Failure to comply with security protocols and use of our services in a manner that is inconsistent with good information security practices, and which may lead to misuse of our services by the user or third parties;
• Using our services through third parties (e.g. by installing remote access);
• Technical reasons;
• Any attempt to gain unauthorized assets to our Website or Accounts of our users either by yourself or by assisting third parties, including informing them about our security measures ;
• in case of non-payment of outstanding obligations to us;
• in case of inappropriate behaviour and inappropriate offensive or violent communication with us.

At the time of the Account closing, the value of your fiat and crypto balance needs to be zero, meaning any remaining fiat or crypto assets will need to be transferred to your bank account or external crypto wallets. A small deposit from your bank account for verification purposes might be needed in case you did not make any previous deposits from the bank to which you wish to make a withdrawal. This is required to verify that the bank account is yours. If needed, our support team will gladly help you with the offboarding process.

We will provide you with sufficient time to empty your Kriptomat account. If you will not transfer your crypto assets to your external wallets in the agreed time frame, and their value at the time is greater than 25 EUR, we will exchange them into EUR and transfer the EUR to your bank account. If we do not have your bank account, we will put your fiat into escrow and notify you with further instructions. Please note that certain fees may be charged for escrow services.

Any assets less than 25 EUR at the time of the Account closing will not be returned by us, meaning that if you do not transfer the funds until the given deadline as given in the notice, we will retain assets in the value of 25 EUR or less, the value is taken at the time of the Account closing, as expenses for closing the Account. If we have your external crypto wallet address for crypto assets, we might also send the crypto assets to your wallet. 

By closing your account, additional processing and bank costs may be imposed on your behalf.

After Closing your Kriptomat Account we will retain your personal data that we obtained from you during the onboarding process, data on your activities within your Account, and any other data obtained from you during our relationship for the period in accordance with the AML regulations. More about the deletion of your personal data is available in our Privacy Policy. 

You will be responsible for any obligations towards us and any fees incurred before the Account closing. 

Kriptomat may also terminate your account at any time and at our sole discretion, upon notice to you by e-mail or other communication channels. Note that it is in our sole discretion to suspend your access to the Services if it is suspected that you have failed to comply with these Terms, pose an unacceptable fraud or regulatory risk to Kriptomat, or provide any false, incomplete, inaccurate, or misleading information. Kriptomat will not be liable to you for any losses incurred in connection with the closure or suspension of your account by Kriptomat.

Procedure In Case of User’s Death or Losing Its Legal Capacity 

In case of a user’s death, we will deactivate the Account immediately after receiving notification of the death. Authorization, if previously existent,  for a deceased person is not valid, therefore we inform about the status of the Account only based on a request by the lawyer of the deceased user’s heirs with a demonstrated legal interest, or based on a court request. We will transfer the assets of the deceased, if they exist,  in accordance with the final court decision on inheritance. The Account of a deceased person will not be transferred to the heirs as the Account will be closed, and the assets will be transferred to the account as instructed in the court decision or other formal order, in which case we will provide instructions on the transfer. 

In case we are notified of a case of losing the legal capacity of our user, we will only allow access to the Account to the authorized person based on the court or other competent authority’s final decision. 

For more information and instruction please contact our support team at [email protected] and they will be happy to assist you. 

Service Fees and Exchange Rates 

We operate on the basis of fees exclusively and we do not issue any invoices similar to the banking services system. 

We charge fees when you use our service to buy, sell, or exchange crypto assets. Fees are calculated at the time you place your order and may be determined by a combination of factors, like your selected payment method, the order value, market conditions, order type, and/or your transaction history.

Fees are displayed in the transaction preview screen before you submit your transaction and may differ for similar transactions. By completing an order, you are agreeing to pay the applicable fees for that transaction. For more information on the fees please visit the Fees and Limits section on our Website. 

We may change the fee models at any given time, but you will always receive valid information on the fee minimum at the time when placing an order and before your confirmation of the order. 

We may also start charging fees on free services such as crypto custody. We will release an announcement or put up a notice on a respective page before any such changes or modifications are made effective. 

We may also charge an administration fee upon returning funds to your bank account for various reasons (eg. refund claim, rejected transactions due to suspicious account activity, established correlation between fraud and your account, and similar). Processing each refund and/or chargeback incurs certain expenses for us, so we reserve the right to charge administrative fees to cover such expenses.

Exchange rates 

Each purchase or sale of crypto assets is also subject to the exchange rate for the given transaction. The exchange rate means the price of a crypto asset in fiat currency (crypto-to-fiat transactions) and the price of a crypto asset to another crypto asset (crypto-to-crypto transactions) as stated in the interface when placing the order. The exchange rate is stated either as a “Buy Price” or as a “Sell Price”, which is the price at which you may buy or sell crypto assets, respectively. 

You explicitly acknowledge that the buy price exchange rate may differ from the sell price exchange rate at any given time and that we might add a margin or “spread” to the quoted exchange rate. You agree to accept the exchange rate (including added margin or “spread”) when you authorise the transaction. Fees for Services are not included in the exchange rate and are charged separately. 

We do not guarantee the availability of any exchange rate nor do we guarantee that you will be able to buy or sell your crypto asset on the market at any particular price or time. 

You hereby explicitly agree that we have the right to deduct the fees directly from your Account. Fees will be paid at the time of the completion of each transaction.

Risks 

Risks related to crypto assets

Any kind of trading of crypto assets involves significant risk. The value of crypto assets has high volatility (value can increase and decrease significantly in a very short period and at any given moment). Such price fluctuations bring uncertainty. The value of crypto assets and collapse in demand may be influenced by many factors, including irrational (or rational) bubbles, loss of confidence in the crypto asset, changes in software development, government decisions, creation of a competitive currency, technical problems, political or non-political statements, statements of influencers, news, and hacker-attacks. 

There are many reasons why you need to be careful when trading with crypto assets, in particular, there is no guarantee the assets will not become worthless for numerous reasons. Make sure you are sufficiently knowledgeable about the crypto market and crypto assets, and that you can make informed decisions. You should carefully read this risk section, including Special Note: Risks of Trading Virtual Assets available at LINK. Be very cautious and keep in mind that we hold no responsibility for any loss related to the loss of value of crypto assets regardless of the reason. At all times mind your financial condition.

Other potential risks may not be foreseen in these Terms. Crypto assets have special risks that are not generally shared with the FIAT currencies because they are not issued by governments, or with commodities or goods that are tangible or registered in the official registry. Crypto assets are intangible, decentralized, digital assets, backed by technology and trust. No central bank or other institution can take any measures to protect the value of crypto assets. The risk of loss in trading, buying, selling, or holding crypto assets can be substantial. 

You should therefore carefully consider whether trading in crypto assets or any levered or derivative crypto assets is suitable for you in light of your financial condition.

Risks related to fraud and scams 

Crypto assets are very popular among fraudsters and there are many methods that fraudsters use to prey on their victims. At Kriptomat, your safety is paramount to us. Fraud prevention is managed by a special fraud prevention task force managing the internal Fraud Management Program. Within the program, we carefully monitor and explore cases of fraud, and evaluate the effectiveness of our preventive measures, which we improve and upgrade based on regular assessments. For more information please visit LINK.  You must understand that without your cooperation, i.e. prudently following our instructions and safety protocols, the effectiveness of all our measures will be significantly reduced. We shall in no case bear any responsibility for your actions or omission, and we disclaim any liability for damages.

Your crypto assets may be lost by unauthorized disclosure of your password or other security codes to third parties. Be careful to keep your private keys, passwords, and security codes to yourself and change them regularly. 

In particular, you confirm and agree with the following:

• Your Kriptomat Account should only be used by you and any actions within your Account will be considered to be initiated solely by you and you shall hold full responsibility for all actions taken within or related to your Account;
• Kriptomat shall not bear any responsibility for any loss or damage suffered by you resulting from illicit or fraudulent activities of third parties;
• You should not disclose your login credentials to any third party, or enable access to your account by installing a remote access tool;
• You shall ensure that the email and phone number provided during the verification process is your personal phone number, accessible only by you, and the 2-factor authentication is set on your device, possessed and controlled solely by you, and you shall not enable anyone to access your 2-factor authentication or provide information on the verification code;
• Do not trust any third-party discount or promotion-related information and always verify them on our Webpage; our official promotions, affiliate, and referral programs are always referenced on our Website. If in doubt, contact our support team;
• Kriptomat shall not be responsible for any losses caused by transmitting funds from/to bank accounts, or crypto assets to any addresses not listed or given to you in your Kriptomat Account interface. 
• Make sure you always access the Kriptomat website through the link https://kriptomat.io/ and the Kriptomat application through the link: https://app.kriptomat.io/. In case of uncertainty or suspicious links given on forums or received by a suspicious account, user, or website, please contact our support immediately and do not transfer any fiat or crypto assets to such suspicious links or accounts. In case of uncertainty, always type the website https://kriptomat.io or https://app.Kriptomat.io/ into the browser yourself.
• We will never call you and we will only communicate with you through addresses ending with “@kriptomat.io”;
• We will never ask you to disclose or change your account credentials, ask you about your password, or request remote access; nor shall we ask users to transmit any fiat, bitcoins, or other crypto assets to our bank account, Bitcoin address, Ethereum address, or other addresses that are not listed in your Account. 
• We do not support any agent model so never trust anyone claiming to be calling on our behalf, and our employees will never communicate with you via WhatsApp, Telegram, or similar applications.

For the avoidance of doubt, we do not provide and will never provide any investment advice in connection with the Services described in these Terms either by ourselves or through third parties. Please consider any cooperation with companies that (allegedly) offer financial services as the most risky and make sure you inspect the alleged financial service provider most carefully. Any decision to purchase, sell, and/or transfer crypto assets is solely your decision and we shall not be liable for any loss suffered.  Please note that after you transfer the crypto assets to a certain crypto wallet account, such transfer cannot be revoked or reversed, and we do not accept any responsibility for your actions.

Trademarks, Copyrights, and Other Intellectual Property Rights 

You can use our Services for your own needs, but we do not allow any exploitation beyond your personal use in accordance with the purpose of our Services.

Unless otherwise indicated by us, all copyright and other intellectual property rights in all content and other materials contained on the Website or in connection with the Services, including Kriptomat logotype, images, icons, texts, graphics, and all designs, slogans, products, or service names, databases, information, data software, corporate identity, sound, video, and other files (collectively: “Materials”) are the intellectual property of Kriptomat or our licensor or suppliers/partners and are protected by applicable copyright, trademark, and other applicable laws. You may view, print, or download a copy of Materials solely for your personal, informational, and non-commercial use, subject to the copyright and other proprietary notices. You may not copy, reproduce, republish, modify, imitate, collect, distribute, transmit, scrap, distribute, or use our Materials without our prior explicit written permission. 

Kriptomat grants you a limited, nonexclusive, non-sublicensable, and non-transferable licence, subject to these Terms, to access and use the Materials, solely for approved purposes as permitted by Kriptomat. All rights not expressly granted in these Terms are reserved solely for the benefit of Kriptomat. The licence granted under this Section shall automatically terminate or suspend upon the termination of your access to the Services.

Infringement of our intellectual property rights will result in legal action to the fullest extent permissible by law. Unauthorised use, reproduction, modification, or distribution of our Materials not explicitly permitted in these Terms is strictly prohibited and may lead to civil and criminal penalties. We vigilantly protect our intellectual property rights and will actively pursue legal remedies to address violations, including seeking damages, injunctive relief, and recovery of legal fees and costs incurred in enforcing our rights.

Appropriate Use of Our Services

You are fully responsible for any materials and information you provide to us in the scope of using our Services. 

You acknowledge and confirm that you will comply with all applicable laws and regulations and not use our Services for any purpose that is illegal, unlawful, unethical or inconsistent, and/or contrary to these Terms and the purpose for which the Services were created.

Kriptomat reserves the right to investigate all violations of these Terms, threats, and unauthorised use of the Services and will act accordingly and in a manner that is considered appropriate, including, among other things, reporting on the suspicion of illegal activities to the competent law enforcement authorities, the regulator or other authorized third parties. If necessary and bound by the law, we will disclose all the relevant information to the above-stated authorities, including personal names, emails, IP addresses, etc. You also acknowledge that you will not perform any activities that would, at our discretion, constitute or represent a disproportionate and excessive burden on our Services and infrastructure.

Anti-money Laundering Regulatory Requirements 

We may be asking several questions regarding your transactions and your identity. We nurture a culture of compliance and do our best to provide a reliable and regulatory-compliant environment, and to achieve this goal we need your participation and tolerance. Even though no one likes to receive questions about their personal financial matters, the benefit is that you can be sure we follow regulations and that we care about the safety of the assets and the safety of the financial market in general.

We are a licenced crypto asset service provider subjected to strict Estonian AML rules and supervised by a competent financial authority. In all markets where we hold registration, we are also subjected to local AML regulations and supervised by local financial authorities. 

For security measures, we will not disclose any information regarding our internal AML and fraud prevention measures, but we are informing you that we are monitoring your Account activities as part of our regulatory monitoring obligation and that we have a regulatory reporting obligation to report all suspicious activity to competent financial authorities.

In the course of our cooperation, we will be asking you about your identity, transaction background, cooperating with third parties, ownership of the wallets and source of your money or crypto funds, the purpose of your cooperation with us, and some other information. 

You should always provide us with factual, comprehensive, and accurate information. You should respect and follow these Terms as well as our other rules, instructions, and guidelines at all times when using our Services. You are obliged to act truly and transparently when completing the KYC procedure. 

You shall not, by any means, use Kriptomat to endanger national security or the security of people.

More information about our Know-Your-Customer and Know-Your-Business processes is available on the following LINK.

Disclosures to the Authorities 

We may share or disclose your Personal Information with law enforcement, data protection authorities, government officials, authorized financial institutions, and other authorities when it is:

• required by law;
• compelled by court order, or other legal procedure;
• reasonably believed by Kriptomat that disclosure is necessary to prevent physical harm or financial loss;
• necessary to report suspected illegal activity and disclosure is justified respectively; or
• necessary to investigate violations of our Terms of Service or Privacy Policy.

We will disclose all the relevant information to the above-stated authorities, including information obtained during the verification process, IP address, transaction history, etc. Any circumstances identified among your transactions that are unusual or suspicious or some characteristics point to fraud relation, dark web relation, money laundering, terrorist financing, or any other illicit activity, we will inform you about and disclose such information to the relevant authorities.   

For more information, please contact us at: [email protected]. 

Service Level Guarantee

We will do our best, but undesired events can happen and you should consider this before entering into a business relationship with us.  You may suffer temporary unavailability of Kriptomat services in case of technical maintenance. Such events can be monitored on our status page.

Our Services are provided in accordance with best-effort standards and there is no guarantee that there will be no delays, errors, failures, omissions, or other impairments of the system or the loss of the transmitted data or other information. 

We will do our best to ensure our Services meet your availability expectations, however, we give no guarantee of any kind, either express or implied, that the Services will be available uninterrupted at all times.

In case of service interruptions, we will always strive to inform you in advance, however in certain circumstances this might not be possible. You fully understand and acknowledge the possibility of an outage of Services and you shall never hold us responsible for any such situation, or its consequences, including damage in all its forms. 

While we make every effort to ensure the continuity, speed, and security of the Services, we are unable to completely foresee and hedge every legal, technological, and other possible risks, including but not limited to force majeure, hacker attack, system instability, virus, a flaw in third-party services, act of government and other unforeseen risk that may result in service interruption, data loss, and other losses and risks.

While we aim to provide uninterrupted Service, there may be occasions when our Services become temporarily unavailable. This could be due to necessary maintenance, system upgrades, security enhancements, a high volume of transactions, or other technical and non-technical factors. We are committed to minimising any service disruptions and will endeavour to notify our users promptly in the event of any planned or unexpected downtime. 

Due to interruptions and/or downtimes, Kriptomat shall not be held liable for any resulting damages to you or to any third person.. 

For high volume or abnormal transactions, market interruption, and other conditions that are caused by a system failure, limited liquidity, network failure, distributed denial-of-service (DDoS), other hacker attacks, and other unexpected factors, we reserve the right to cancel the abnormal transaction results and rollback all the transactions of a certain period. Following operational and security needs, we may suspend or restrict part of the Services.

We have taken all reasonable measures to ensure the accuracy of the information on the Website, however, Kriptomat does not guarantee the accuracy, suitability, reliability, completeness, performance, and/or fitness for the purpose of the content of any Services available through the Website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content or your inability to access our Website, nor shall be responsible for any delay or failure of the transmission or the receipt of any instruction or notifications sent through our platform. 

Your Responsibility To Follow Security Measures 

You agree to safeguard the security of your Account and crypto assets within your account. We hold no responsibility for your actions and omissions that lead to impairment of the security of your Account, including and specifically resulting in losing your assets.  We specifically warn you that using remote access tools (such as AnyDesk) to access your Account is strictly prohibited and there is an extremely high correlation between enabling access to your Account to third parties and fraud. If you need any help with using our app, always ask our support team to assist you!

You as the user are solely responsible for managing and maintaining the security of your login credentials and any other forms of authentication, and you understand and acknowledge that we are not responsible (and you will not hold us responsible) for any unauthorized access to and or use of your login credentials and/or Account (“Unauthorized Access”). We reserve the right to freeze a part or all of your assets, or otherwise restrict you from accessing part or all of the Services, given that the circumstances show that your account is exposed to potential risks according to these Terms, laws, regulations, legal instruments, government requests and other circumstances, for which we estimate such risk. Kriptomat shall “unfreeze” the frozen account when the conditions to do so are met and there is no risk of any kind for us and you.

We reserve the right to determine whether to unfreeze partially or wholly when we receive your request to unfreeze. You hereby acknowledge the request to unfreeze the account may not be accepted, and before unfreezing the account, you shall cooperate with us on identity verification or other relevant requirements, in particular establishment of third-party involvement in s and provide, including but not limited to, identity information, identity card, passport, other valid identity documents and other documents or information required by us.

Liability, Exclusion of Any Warranties and Guarantees 

Our liability is limited to the maximum extent possible following the law. In particular, you are fully responsible for all actions or omissions on your side.  Further, we are not responsible for any loss commencing from hacking, cyber attack, exploited system vulnerability, theft of crypto assets, or any other attack resulting in the loss, unavailability, or destruction of your crypto assets (altogether “cyber attacks”). We also cannot be held responsible for any damage or loss for reasons on the side of third parties. We select our third-party service providers carefully and responsibly, but in case the risk materializes, you must understand we do not hold any responsibility for damage resulting from third-party providers.  Please make sure you read Risk of Trading Virtual Assets carefully!

You shall bear any and all loss resulting in your own fault or error, including but not limited to unprompted operation or transaction, not timely trading operations, leakage of passwords, cracked passwords or private keys (if any), and/or the invasion of your computer by a third person.

In the event of a potential loophole in the trading rules or system based on which you are unjustly enriched, we will contact you to recover the gains. You must effectively cooperate, otherwise, we will take actions, including, but not limited to restrictions on Account transactions, freezing account funds, legal enforcement, and other recourse measures. We reserve the right for the amount of unjustified enrichment to be deducted from your Account balance if available. In the event you will not cooperate, we may also charge you with administrative recovery fees. 

We are not liable for any direct, indirect, punitive, incidental, consequential, or other damages or loss of data, profits, goodwill or reputation, personal injury, or any other damage resulting from (i) your access and use of our Services, (ii) your inability to use the Services (iii) any information or content contained on our Website, (iv) your information or material provided to us. The exclusion of liability applies regardless of whether the damage was caused by a breach of contract, liability for damages, negligence, and strict liability or otherwise. 

Unless expressly provided in these Terms, we do not make any representations and exclude any warranties, expressed or implied, to the fullest extent possible under the applicable law regarding the relevance, reliability, availability, timeliness, and accuracy of the Services and Website information, the content of the Website and links to third party websites on our Website. Our Services, Website, information, and content on it, are provided without any warranty of any kind. 

The information we provide on the Website may be inaccurate or have typographical errors and we shall not be liable for such errors.

Forks and Airdrops

In case of a fork, deposits and withdrawals may be halted, and may remain unavailable until further notice. We will notify you via the notification system and/or emails before halting the transactions. You will be notified by email when the deposits and withdrawals of the crypto assets are again available.

We cannot guarantee the functionality, security, or availability of the update, upgrade, or any modification of the underlying blockchain protocols, and we cannot affect or apply any control to software protocols of crypto assets. By accepting these Terms you acknowledge the risk associated with forks, that is changes in operating rules. Further, you also acknowledge the risk of airdrops. Both forks and airdrops may affect the value and other characteristics of the crypto asset. 

In accordance with best-effort standards, we will notify you about the upcoming forks and/or airdrops and their impact on our Services, and how we will manage them within our system. You must understand that we might have a different approach from other service providers. 

Upon the occurrence of the fork or airdrop please make sure you carefully follow our notifications and understand the implications they might have on your crypto portfolio. We will not be responsible for any loss you may suffer from such events, and in particular, we do not guarantee we will support the fork or airdrop. 

Complaint Resolution 

We understand you may be dissatisfied with our services. Any complaint you may have may be addressed via the following channels:

• Customer support chat window
• Kriptomat Help Centre 
• Email [email protected] 
• Contact form https://kriptomat.io/contact-us/
• Email [email protected] for any fraud-related issues or use the fraud reporting form https://kriptomat.io/fraud-report/ 

Your request will be resolved in the shortest possible time and without any costs. We will answer you promptly and in accordance with the best-effort principle. You will receive a confirmation of receipt of your filed complaint within 10 business days, and we will send you a response within 30 days after your complaint has been received. During this period we might contact you for additional information and supporting documentation to be able to provide you with a comprehensive response. Your cooperation is considered crucial and if we do not receive the requested data or documentation within the given timeframe, we might either close the complaint task or provide you with an answer based on limited information. If we receive additional information after this, we will reopen the task or initiate a new one. In any case, we will do our best to provide you with reliable customer support service. 

Tax Obligations

You are solely responsible for determining any tax obligations that may arise from using our Services and investing in crypto assets. We do not bear any responsibility for the identification, calculation, reporting, or payment of taxes on your behalf.

Given the complexity and evolving nature of tax regulations pertaining to crypto assets, we strongly recommend that you consult with a qualified tax professional. A tax advisor can provide tailored advice and guidance based on your individual circumstances, ensuring compliance with the applicable tax laws in your jurisdiction. This consultation is particularly important as tax laws vary significantly across different countries and are subject to change.

Remember, failing to accurately report cryptocurrency transactions can result in significant legal and financial penalties. It is therefore imperative to understand and adhere to your tax obligations.

Indemnity 

To the full extent permitted by the applicable law, you hereby agree to indemnify us and our partners against any action, liability, cost, claim, loss, damage, proceeding, or expense suffered or incurred if direct or not directly arising from your use of our Website, your use of the Service, or from your violation of these Terms.

Jurisdiction and Applicable Law 

These terms and conditions shall be subject to the jurisdiction and interpretation of the law of the Republic of Estonia.  In case of a dispute, parties shall solve disputes in an extrajudicial way – users of the Services agree to a mediation procedure according to the Estonian law, before taking the case before the court. Should the dispute not be settled in the mediation procedure, then the Harju County court shall have exclusive jurisdiction to solve it.

Miscellaneous 

These Terms, including Privacy Policy and Cookie Policy and other documents concerning these Terms, govern the legal relationship between you and us regarding the use of our Services. 

If one of us does not exercise its right under these Terms, such conduct shall not be considered as a waiver of the right or as a waiver of other rights. 

We shall not be liable for failure to fulfil our obligations under these Terms or the damage related to our Services, if such failure or incurred damage in the widest possible meaning is the result of any reason beyond our reasonable control, which includes, inter alia, force majeure, hacker attacks, mechanical, electoral and communication impairments or deterioration.

If any provision of the Terms turns out to be unenforceable or invalid, then that provision shall be limited or eliminated to the minimum extent necessary for the Terms to remain in force.

We may transfer or assign to third-party rights and obligations under these Terms without your consent. We shall inform you about the transfer by email or other communication channels. 

You may not assign your rights under these Terms to anyone else.

We reserve the right, at its sole discretion, to modify, suspend, or discontinue, temporarily or permanently, any part of our Services or offerings, with or without notice, at any time. Changes to our Services may include the addition or removal of features, functionalities, or content. We will not be liable to you or any third party for any modification, suspension, or discontinuance of our services

These Terms are effective immediately upon your active confirmation of acceptance by clicking “I Agree” button during the registration process, and will remain in effect until the moment you formally close your Kriptomat Account and discontinue all use of our services you accept them and terminate when you close your Account and stop using our Services. 

Annexes:

• Appendix A:  KriptoEarn Staking Services 
• Annex B: Kriptomat Web3 Wallet 
• Annex C: Kriptomat Intelligent Portfolios

Last update:  Jan 5th, 2024