Introduction

Kriptomat Intelligent Portfolios is an innovative investment solution that leverages an algorithmic automatic crypto asset investment strategy (hereinafter “(Kriptomat)  Intelligent Portfolios” or Intelligent Portfolios Services”). It is a tool that makes your crypto investments easy, transparent, and automated without any additional effort from your side and with an immediate asset withdrawal option.  

You can choose among different crypto investment portfolios, and each crypto portfolio consists of different crypto assets and algorithms. The assets within the chosen portfolio automatically rebalance each month or in accordance with set intervals. 

Please read these terms and conditions carefully, with additional emphasis on the risk part. For more information, we advise you to get advice from a professional legal and/or certified financial adviser. 

You and Us 

These terms and conditions (the “Terms”) govern the relationship between you and us, FintechX OÜ, when you are using Kriptomat Intelligent Portfolios. We will further address this as an “Intelligent Portfolios Service”. 

These product terms and conditions govern Intelligent Portfolio Service and are part of and subject to Kriptomat’s Terms of Service and Privacy Policy, if any inconsistency between them and these Terms, these Terms apply. 

To use our Intelligent Portfolios Service you must have an account on our platform https://kriptomat.io/ (“Kriptomat account”), and you passed KYC, and by using Intelligent Portfolios Service you accept and agree to comply with these Terms and any other applicable conditions communicated to you through the interface from time to time. If you do not agree to any of the provisions of this Annex you should immediately stop using Intelligent Portfolios Services. 

Intelligent Portfolios are provided solely for use by you. Using our Intelligent Portfolios Service for managing assets that are not yours (e.g. are owned by your family members, friends, or any other third party) is strictly prohibited. 

Be advised that in some jurisdictions, due to regulatory considerations, Kriptomat may not provide part or all of the Intelligent Portfolios Services.

Changing the terms and the product 

We reserve our right to change, cancel, suspend, or modify any aspect of this Annex at any time and at our sole and absolute discretion, taking into account the User’s rewards earned. You agree it is your responsibility to follow and review any such changes. We will notify you of any changes via our webpage or Intelligent Portfolios interface becoming effective on the day of their publication. It shall be considered that you agree with the changed Terms if you continue to use the Intelligent Portfolios Services after the changes become effective. 

Due to changing regulatory requirements and interpretations in the cryptocurrency markets, Kriptomat will use its sole and absolute discretion to limit or disable the Intelligence Portfolios if determined that regulatory or policy reasons prevent Kriptomat from being able to offer Intelligence Portfolios Services in whole or for individual markets.

Kriptomat reserves the right to modify, introduce new strategies, or stop offering existing strategies at any time and without notice period. 

About Intelligent Portfolios 

Intelligent Portfolios are a user-friendly technical interface through which you can participate in different crypto investment strategies. You can see the approximate reward values for the available strategies within the Intelligent Portfolios interface. These rewards are solely approximate and provided for informative purposes only, and may change at any time. Unless otherwise indicated, all quantitative data (i.e. pricing, supply) is obtained from coingeco.com in USD; and, if not available there, from coinmarketcap.com. Qualitative data (i.e. categorization) is obtained from coinmarketcap.com. 

Intelligent Portfolios will not consist of non-fungible tokens (NFT), security tokens qualifying as financial instruments under MiFID II, and wrapped/staking liquidity tokens. 

When you select portfolio strategy you automatically confirm auto-rebalancing meaning you confirm transaction orders initiated automatically in accordance with the selected crypto asset investment strategy. 

Intelligent Portfolios interface provides information on the investment strategies – Portfolios, and related essential properties for each of them:

• Detailed technical description of the strategy with explained methodology and selection of crypto assets that form the portfolio of selected strategy; 
• estimation of the return based on historical data (in %)
• Information on the fees and entry minimum value.

You decide how much assets you wish to invest, subject to minimum entry value. The crypto assets remain in your Kriptomat wallet and within our custody. You can exit at any time.

You decide how many assets you wish to invest and in which portfolio, subject to minimum entry value.

You can increase or decrease your share in each portfolio however it suits you,  but you cannot change the characteristics of a portfolio.

The nature of the information provided to you

The interface, articles, portfolio descriptions, and other data available to you in our application may include market data, analytical data, research reports, graphs, and/or any other data.  Such data are solely for informational purposes and should not be interpreted as financial advice or to apply to your personal circumstances. We provide them only to enable you to make your own decision about which portfolio(s) is/are suitable for you. In particular, any placement and content of information is not intended to be and should not be regarded as a personal investment recommendation or personalised advice.

If you’re uncertain as to whether an intelligent portfolio is suitable for your financial circumstances and/or appropriate for you and your financial needs, you should seek independent professional advice. 

In no event shall we be responsible to you for any losses you suffer as a result of your use and/or reliance on data we publish or for any losses you suffer if the information we display in our interface and/or application is incorrect.

It shall be considered you heavily breached these terms and conditions if you use any of the data we publish in our interface and/or application that we provide for commercial purposes.

Important about your safety & risk discloure

Before proceeding with your investment decision regarding our portfolio product, it is of utmost importance that you are fully informed of the associated risks. 

We urge you to read and understand the following risk warning carefully:

• Intelligent Portfolios Are Not a Financial Product, an Investment Product, or Service: Please be advised that this portfolio product is not classified as an investment product or service. It has been designed to facilitate certain crypto-related activities and should not be construed as a financial instrument or an investment vehicle.
• Not A Regulated Product: Your Intelligent Portfolio Account is not a bank account, deposit account, savings account, financial investment account, checking account, or any other type of asset account. It should not be characterized, understood, considered, or interpreted as a banking product or service. Kriptomat Intelligent Portfolios does not represent and cannot be interpreted as an investment program in the meaning of financial regulation, or a speculative tool. 
• We Are Not An Investment Advisor: We are not an investment advisor, investment bank, bank, broker, broker-dealer, fund administrator, or asset manager, and make no representation regarding the advisability of investing in any strategy described in the intelligent portfolios section, regardless whether conventional or non-conventional. A decision to invest in any such portfolio should not be made in reliance on any of the statements set forth on the intelligent portfolio interface.
• No Regulatory Oversight: This product does not fall under any specific licensing or regulatory framework in Estonia or in any other country where we hold CASP registration, or anywhere else. Consequently, it is not supervised or monitored by any financial authority or other governmental entity.
• Investments Are Not Protected: Funds invested in this portfolio product are not protected by any private or governmental insurance plan, guarantee scheme, or compensation mechanism. This is distinct from traditional financial products or services which might offer depositor or investor protection.
• Not an Investment Contract: Your Intelligent Portfolio Account does not constitute an investment contract or a security, is not transferable, and may not be traded, exchanged, or sold to any third party under any circumstances.
• No Recommendation to Buy: The inclusion of a crypto asset within a strategy is by no means a recommendation by us to buy, sell, or hold such crypto asset, either within the strategy or separately, nor is it considered to be investment advice or a statement on the quality of the investment in the crypto asset that is included in the strategy.
• Potential for Loss: Intelligent Portfolios do not guarantee any profit or protection against loss due to the decline in the value of crypto assets. The Intelligent Portfolios does not protect you against the risk of volatility and losses commencing from such volatility in any way. Crypto assets and related products are known for their volatile nature. The value of your investment can fluctuate significantly in a short period. You should be prepared and financially able to absorb a total loss of the amount you invest.
• No State Guarantee: Investments in Intelligent Portfolios are not covered by any state guarantee schemes.
• Consider Professional Advice: Before making any decisions, we recommend seeking advice from a financial advisor or another qualified professional to understand the implications and risks associated with this product.
• No Guaranteed Returns: Intelligent Portfolios cannot in any way be interpreted as a promise of profit. We are not a financial investment company. 
• Past Performance Do Not Define Future Performance: Past performance must not be used to forecast or extrapolate any future performance and is not an indicator thereof. 

Please ensure that you have considered all the above points thoroughly. It is your responsibility to assess whether this portfolio product aligns with your investment objectives, risk tolerance, and financial circumstances.

UNDER NO CIRCUMSTANCES OUR SERVICES APPLY TO, INCORPORATE, AND/OR INCLUDE FIAT MONEY. INTELLIGENT PORTFOLIO SERVICES APPLY SOLELY TO CRYPTO ASSETS. 

This Risk Disclosure complements risk disclosure in the Terms of Service. You should carefully read and make sure you fully understand the Risk disclosure in the Risk Section of the Terms of Service and Special note: Risks of Trading Virtual Assets.

Investment in a strategy is structured as independent trades of every crypto asset available on the Kriptomat platform. Kriptomat does not sponsor, endorse, sell, promote, or manage any investment fund or other investment vehicles or financial products that are offered by third parties and that seeks to provide an investment opportunity based on the performance of any strategy. 

Intelligent Portfolios for B2B 

Prospective investors, traders, or other B2B users are strongly recommended  to make an investment only after performing their own rigorous due diligence and carefully considering the risks associated. 

Taxes

You may have to pay taxes related to your gains or assets invested in Intelligent Portfolios. We are not responsible for collecting these from you, for making any payments on your behalf, or for providing any reports relating to tax.

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.

About Responsibility 

Towards you 

We shall in no event and under no circumstances be liable for any loss or any kind of performance or underperformance of intelligent portfolios. 

We will do as much as reasonably possible to make sure that our Intelligent Portfolios Services are not interrupted, are secure, and virus and bug-free. However, we can only guarantee service level in accordance with the best effort principle. 

Depositing of assets or withdrawal options may be temporarily disabled during the rebalancing period. The availability of services may also be affected during the maintenance period, updating, technical issues, and similar. We will try to inform you in advance, however, in some cases, this will not be possible. We will do our best to ensure the availability of the service in the shortest term possible. 

We reserve to suspend the use of our services to make regular updates, improve security, make technical improvements, add new features, and similar. Usually, we will notify you before such suspension and we will do everything to keep the interruption as short and limited as possible. However, in case of an emergency, it can happen we will not notify you, or will not notify you in a timely manner. 

We shall not be responsible for any loss or damage that arises if you have breached these terms and conditions or have acted unlawfully. We shall also not be liable in all cases where Intelligent Portfolios are not available or are in any way interrupted, or if we do not meet our obligations because of legal or regulatory requirements. 

We shall never be responsible for any loss you suffered from unexpected and unusual events (vis major) outside our control that we could not prevent and/or consider when entering into the agreement with you.  

Intelligent Portfolios Services are provided on an “as is” and “as available” basis and we do not make any warranties representations, or promises regarding its use, results, or performance. Our maximum liability is limited to 50 EUR (fifty euros) total. We cannot be held responsible for any lack of returns, lost profits, diminution in value, or any kind of loss, and for any special, incidental, indirect, intangible, or consequential damages, regardless of the basis (complete exclusion of liability). 

You towards us

In case you breach these terms and conditions in such a way as to inflict us certain damage, you will be responsible for the losses we suffer as a result of your action, including indirect damage, lost profits, and reasonable legal costs in connection with our losses.  

Any questions or complaints? 

We understand you might have some questions and will be happy to assist you in any way we can. Any questions or complaints are best made through our Help Section through the Intercome Help Desk Window or by sending us an email to [email protected]. 

Termination 

You can stop using Intelligent Portfolios at any time and immediately withdraw your assets to your primary Kriptomat account. It shall be considered you terminated the agreement by doing so. You can at any time start using Intelligent Portfolios again. 

We can terminate the agreement without notice and immediate effect if:

• we suspect you are behaving fraudulently or we recognize any other connection between you and criminal activities;
• you do not provide us with the requested information, or we believe that the information you provided is incorrect or incomplete;
• You are in material breach of these terms and conditions;
• You are no longer Kriptomat’s client;
• You have declared bankruptcy or insolvency;
• We are required to terminate on the basis of law or official order;
• We have a substantial reason that you are using our services to damage our business or reputation, or in any way you act detrimental to us. 

If we end this agreement, your crypto assets will be available in your Kriptomat wallet. 

Other Legal Information 

It is important to understand that these terms and conditions are governed exclusively by Estonian law. Therefore, any legal action or proceedings arising in connection with these products must be brought before a competent court in Estonia. By engaging with our Intelligent Portfolios, you agree to this jurisdiction stipulation.

We urge you to carefully consider these aspects and seek professional advice if necessary before proceeding with any investment decisions related to our Intelligent Portfolios.

If we do not enforce our rights immediately after we discover you are in breach of these terms and conditions, this does not mean that we give them up, and can enforce them at any time later.

All rights reserved. Any use of Kriptomat investment strategies, commercial or noncommercial, requires valid licenses from Kriptomat. Redistribution, reproduction, in whole or in part, electronically or conventionally, in writing or oral, are prohibited without prior explicit written permission.