TERMS OF USE

Last Updated 8th August, 2018

These Terms of Use (“Terms”) apply to the access and use of the exchange service and the wallet service as well as other ancillary services (“Services”) provided by CoinPiac OÜ available via the webpage https://coinpiac.com/ and any mobile application (“Website”). These Terms constitute an agreement between the customer (“You” or “your”) and CoinPiac OÜ (registry code: 14438125; address: PARNU MNT 158-88, 11317, TALLINN, ESTONIA), and its wholly owned subsidiaries (“CoinPiac” or “our”).

Please be aware that CoinPiac may revise these Terms from time to time. Therefore, the Terms may be changed or amended. Any changes or amendments will be published on the Website and sent to your registered e-mail to notify you about the updates of the Terms. A notice about changes will be posted on the Website’s homepage for a reasonable period of time prior to such changes coming into force. The effective date which is at the top of the Terms informs you about the latest version of the Terms. CoinPiac advise you to revisit this page from time to time to make sure you are familiar with the current version of the Terms. By continuing to access and use the Website or the Services after CoinPiac has posted changes on the Website, or after notifying you by e-mail, you are agreeing to accept the updated Terms. If you do not agree to any updated Terms, you must stop using the Website or the Services.

1. ELIGIBILITY. GENERAL REQUIREMENTS. RESTRICTED JURISDICTIONS

1.1. You need to register and open an account in our Website in order to access the Services (“Account”).

1.2. By using the Services, You represent and warrant that You: (i) are at least 18 years old and have full legal capacity to form a binding contract; (ii) have not previously been suspended or forbidden to use Services; (iii) are not a citizen of the United States of America; (iv) are not subject to the European Union (EU) Sanction List and the United Nations Security Council Sanction List.

1.3. In case You represent a legal entity, You warrant that You: (i) represent a legal person legally organised and validly existing under the laws of its incorporation jurisdiction; (ii) have the legal authorization to act on behalf of such legal entity.

1.4. In addition, You may not use our Services when You are located in any country that is currently under embargo or sanctions from the EU or the United Nations. CoinPiac may implement technical methods for restricting access from those locations.

2. ACCEPTABLE USE. LIMITED RIGHT OF USE

2.1. You shall immediately report any malfunction or defect found in the Services.

2.2. You are liable for the correctness of the information you have submitted to CoinPiac during registration. In case of changes in the information, you shall update your Account.

2.3. When accessing CoinPiac Services, You shall not: (i) negatively interfere with other customers; (ii) damage, disable or in any way disrupt the Website or the Services; (iii) conduct, pay for, support or in any way be involved in any illegal activities, including but not limited to money laundering, terrorist financing, fraud, illegal gambling, illegal weapons sale and drug trafficking; (iv) use any automated means or interface to access Services or to extract data; (v) use another customer’s account; (vi) provide false or misleading information to us.

3. ANTI MONEY LAUNDERING COMPLIANCE

3.1. In order to let You use the Services, CoinPiac must verify your identity. To create, maintain or upgrade your Account, You will be required to provide CoinPiac with all the necessary and requested information.

3.2. The reason why CoinPiac needs to verify You can be found at our AML Policy.

4. SERVICES

4.1. CoinPiac provides You with a wallet that allows the storage of virtual currencies and fiat currencies. Each wallet has a correspondent prepaid card enable to pay in e-commerce services.

4.2. The physical cards are linked with the exchange allowing for mutual transfers of funds. You can opt to have multiple cards, but each card will have a unique Account number and customer identification.

4.3. Your trading limits will depend on the Account verification level. Verification process, according to law, is conducted for security reasons and for complying with the AML Policy.

4.4. CoinPiac provides You with a Service for the exchange of virtual currencies and fiat currencies. You can exchange Bitcoin (BTC), Ethereum (ETH), Dash (DASH), Zcash (ZEC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum Classic (ETC) and Ripple (XRP) for USD and vice versa.

4.5. The applicable exchange rates and fees charged for our Services are available at [fee schedule ].

4.6. The minimum allowed trade in the exchange is [insert $USD].

4.7. You are responsible for maintaining the Account’s password confidential and secure. You shall not share the password with anyone. The Account can be used only by You.

4.8. Virtual currencies can be deposited in the wallet by using a third-party wallet. Fiat currencies can be deposited in the wallet through a bank transfer, credit card payment or by using CoinPiac Card. CoinPiac Card allows for direct CoinPiac to CoinPiac card transfer.

4.9. Withdrawal of virtual currencies can be done to a third-party wallet. Fiat currencies withdrawal is possible to a bank account and to the CoinPiac card.

4.10. CoinPiac may, in its sole discretion, limit the number of Accounts that You can register for or maintain.

5. RISKS

5.1. Trading in virtual currencies is highly volatile and risky. Please read carefully our Warning document and use the Services only if You understand the risks.

6. RIGHT OF WITHDRAWAL

6.1. You understand and agree that with the start of the transfer you will lose your 14 days right of withdrawal in accordance with the exception based in the Directive 2011/83/EU of the European Parliament and of the Council of 25 October 2011 on consumer rights in the basis of a distance contract for the supply of digital content not supplied on a tangible medium.

7. LIABILITY. WARRANTIES. INDEMNIFICATION

7.1. To the extent permitted by law, CoinPiac will not be liable for any damages, losses of profit, usage or data, loss of business, loss of business, failure to use the Services, customers misunderstanding of Services or any other loss originated from negligence or fraud or otherwise arising out of or connected to the Services or these Terms.

7.2. You shall indemnify and hold harmless CoinPiac, its affiliates, contractors, licensors and respective shareholders, members, directors, officers, employees, attorneys, agents and suppliers from any claim, damage, lawsuit, tort, cost or expenses.

7.3. The Services are provided on an “as is” and “as available” basis without any warranty or representation expressed or implied. CoinPiac does not make any representations or give warranties that the access to the Website, use of the Services, functionality of the wallet and cards will be continuous, uninterrupted, timely or error-free.

7.4. You understand and agree that CoinPiac shall not be liable in connection with any force majeure event, including labour disputes or other industrial disturbances, electrical, telecommunications, hardware, software or other utility failures, software or smart contract bugs or weaknesses, earthquakes, storms, or other nature-related events, blockages, embargoes, riots, strikes, acts or orders of government authority, acts of terrorism or war, technological change, changes in interest rates or virtual currencies or other monetary conditions, and, for the avoidance of doubt, changes to any blockchain-related protocol.

8. PRIVACY POLICY. DATA PROTECTION

8.1. You agree to CoinPiac’s Privacy Policy which explains how CoinPiac collects, uses and protects the personal data You provide to CoinPiac when you use our Services.

8.2. Full details of our Privacy Policy can be found at Privacy Policy.

9. INTELLECTUAL PROPERTY (IP) PROTECTION

9.1. Unless otherwise clearly specified, all copyright and other IP rights of our Website constitute our proprietary rights and are protected by international laws and national IP and copyright laws.

9.2. The use of such protected material without license or specific authorisation violates copyright and IP rights and shall result in criminal and/or civil penalties.

9.3. You may view, download and print the documents from the Website solely for his/her personal use and for own information purposes.

10. REGULATIONS. COMPLIANCE WITH LOCAL LAWS. TAXES

10.1. It is your responsibility to comply with local laws in respect to the legal usage of the Services and the regulatory qualification of virtual currencies in your jurisdiction.

10.2. You are responsible for determining what taxes apply and in which measure to the authorised use of the Services. You should report and remit the correct taxes to the appropriate tax authority. CoinPiac is not responsible for determining your tax obligations. Your transactions and trade history are available to via the Account. Tax authorities might request information about your tax compliance from CoinPiac.

10.3. CoinPiac Services are regulated by the legislation of Republic of Estonia. CoinPiac holds two licenses from the Estonian Financial Intelligence Unit for the provision of the exchange services (License FVR000155) and wallet services (License FRK000129).

11. JURISDICTION. APPLICABLE LAW. DISPUTES

11.1. These Terms have been drawn up in accordance with the laws of the Republic of Estonia and the application, interpretation, and termination shall be governed by the laws of the Republic of Estonia.

11.2. Any disputes regarding the Services and/or in connection with these Terms shall be settled through negotiations. If the Parties fail to resolve the dispute through negotiation, the disputes shall be settled by Harju Maakohus (Harju County Court), pursuant to the procedure provided by the law of the Republic of Estonia.

12. TERMINATION OF THE AGREEMENT BETWEEN YOU AND COINPIAC. SUSPENSION OR CANCELLATION OF AN ACCOUNT

12.1. You may terminate the agreement with CoinPiac at any time on the basis provided by law.

12.2. You agree that CoinPiac may terminate the agreement with You and suspend or cancel your Account in case of, but not limited to, (i) non-conformity to the requirements from these Terms, (ii) a requirement from any applicable law to which we are subject in any jurisdiction, (iii) an order from a court or governmental authority (iv) unusual, unauthorised or fraudulent activity in your Account (v) false, misleading, inaccurate, incomplete or outdated information (vi) any other reasons that CoinPiac deems relevant for termination of the agreement between you and CoinPiac and suspension or cancelation of your Account.

12.3. CoinPiac shall have the right to file claims against You or your legal representative for a compensation.

12.4. If an event of force majeure occurs, the party injured hereto by the other’s inability to perform may elect to suspend the agreement between You and CoinPiac, in whole or part, for the duration of the force majeure circumstances.

12.5. Upon termination, suspension or cancellation on the basis of the previous clauses, You will be denied access to the Services temporary or permanently.

13. MISCELLANEOUS

13.1. The defined concepts that are written in the upper case first letter in the Terms are used in the indicated meaning unless the context indicates a different meaning.

13.2. The titles are used only for reference purposes and systematisation and shall not constitute object interpretation of these Terms.

13.3. These Terms set forth the entire understanding between CoinPiac and You with respect to the exchange and wallet Services. You agree to rely only on the Terms alone. These Terms supersede any previous statements made by CoinPiac or individuals associated with the CoinPiac.

13.4. If any term, clause or provision of these Terms is held unlawful, void or unenforceable, then that term, clause or provision will be severable from this agreement and will not affect the validity or enforceability of any remaining part of that term, clause or provision, or any other term, clause or provision of these Terms and the invalid condition shall be replaced by a valid condition as close as possible to the outcome and the detail of the replaced condition.

13.5. No failure of CoinPiac to exercise any right, power or privilege under these Terms is deemed to be a waiver thereof, nor any partial exercise of a right, power or privilege should preclude the exercise of the entire or other right, power or privilege.

13.6. You may not assign any of the rights conferred to You under these Terms without prior written consent from CoinPiac. CoinPiac may assign any right or obligation under these Terms without any notice to or consent from You.

13.7. This Terms are provided in English. Any translation has the sole purpose of being convenient for You. In case of any inconsistency, contradiction or doubt, the English version of these Terms shall prevail.

13.8. You can contact us, if You have some question, feedback or complaint related to our Services, by sending to CoinPiac a message through https://coinpiac.com/ Contact section or by sending an e-mail to [email protected]

14. CARD HOLDERS'S TERMS & CONDITIONS

Dear User,

Please read carefully the terms and conditions informed below as you enter the site and any content and applications thereof, continuing implies your consent to abide and be bound by each and any term or condition herein, as well as other policies and documents constituting or regulating your participation within the site.

If you disagree with any part of these terms and conditions, please do not use the site.

In order to ensure the security and confidentiality of the transactions provided via website www.coinpiac.com, prior identification and authentication through an access code (email/mobile) and password is required.

All data collected from our Users are treated with absolute confidentiality, used solely for the purpose of the requested use, considering the provisions of previous agreements entered to and as required by the Estonia laws.

CoinPiac OÜ reserves the right to modify information contained herein, when deemed appropriate, without prior notice.

You agree not to use the software or any other means tending to interfere the operations of the site or databases and/or information contained therein.

You agree that any activity contrary to copyright(s), intellectual property, bank secrecy, security breach to systems and/or networks and any other contained herein, will result in liability, CoinPiac OÜ has the right to exercise any and all legal action(s) in addition to compensation for caused damages.

User is forbidden to profit in any way with the services offered on the site.

15. FAILURES

CoinPiac OÜ is not responsible for any damage, injury or loss in User’s equipment caused by failure(s) in the system(s), server(s) or internet proprietary of CoinPiac OÜ. Further, CoinPiac OÜ will not be responsible for any virus(es) that may infect User’s equipment resulting from access and use of the site, as of transfer of data, files, images, texts, or audio contained therein or by any other circumstances. CoinPiac OÜ assumes no liability resulting from the exchange of electronic information between Users and assumes no responsibility for any technical issues that may occur on equipment used during internet connection, either by CoinPiac OÜ site(s) or other websites.

As a result from the above mentioned, User disclaims CoinPiac OÜ from any responsibility, therefore cannot demand compensation for any damages resulting from technical difficulties or failures in the system(s) or electronic media.

16. DISCLAIMER OF WARRANTIES

CoinPiac OÜ does not guarantee availability and continuity of the operation(s) or performance of the site, product(s) or service(s) and/or other sites where a link has been established or suitability thereof for User’s needs.

You agree that CoinPiac OÜ will not have any responsibility neither for the interruption or delay of any information, material(s) or any other detail of the services offered in the site, including without limitation, responsibility associated with any virus(es) that may infect your equipment or software, nor damages and/or losses resulting from the lack of veracity, validity, completeness and/or authenticity of the information uploaded by third parties.

CoinPiac OÜ in no event will be liable for any damages arising from

unavailability or lack of accessibility of the site, service(s) and other sites where a link has been established;
interruption in the operation of the site or service(s) or computer failures produced in the course of its performance and;
inadequacy of the site, content and/or service(s) to meet the User’s needs.
Product(s) and service(s) may contain inaccuracies and/or typographical errors, therefore CoinPiac OÜ do not guarantee the accuracy or perfection of the elements of these and the reliability of any notice, opinion, statement or any other information visualized or distributed in the site. User acknowledges that relying on any notice, opinion, statement or information will be at its own risk. CoinPiac OÜ reserves the right, at its own discretion, to correct any error(s) or omission(s) in the site, as well as any materials, product(s), service(s) or prices ,if any, described in the site, at any time and without prior notice, subject to applicable laws and regulations.

The information below is subject to constant changes, without prior notice, and may not be used for official purposes, is provided as it is, no warranties are made as to its accuracy and expressly disclaims any responsibility due to errors and omissions contained.

CoinPiac OÜ does not guarantee that all product(s) and service(s) offered in the site are available in their affiliate stores pursuant to not being viable under their geographical location and/or applicable regulations. To acquire such product(s) and service(s), it is necessary to meet the requirements established for each case by CoinPiac OÜ or its affiliates.

In order to reduce the risk of viruses on the site, CoinPiac OÜ uses virus detection programs. However, CoinPiac OÜ does not guarantee the absence of viruses, or other elements on the site introduced by third parties, that may cause alterations in the physical or logical systems of the Users or electronic and stored documents in their systems. Consequently, CoinPiac OÜ in no event, will be responsible for any damages, of any kind, arising from the presence of viruses or other elements that may alter the physical or logical systems, electronic documents or User’s documents.

CoinPiac OÜ adopts various defensive measures to protect the site against attacks by third parties. Notwithstanding, CoinPiac OÜ does not guarantee that unauthorized parties can gain access to the use of the site made by the User or conditions, characteristics and circumstances in which such use is made. Therefore, CoinPiac OÜ in no event will be responsible for damages resulting from such unauthorized access. Users are liable for damages CoinPiac OÜ suffers as a result of the breach of any obligations they are bound. User expressly agrees that CoinPiac OÜ will not be liable for any damage caused if by unforeseeable circumstances, force majeure or any other unavoidable event or circumstance beyond CoinPiac OÜ control, User is unable to use the site or transactions offered.

17. PENALTIES

CoinPiac OÜ reserves the right to suspend or discontinue, temporary or permanently, access to the site, at any time, to any User, and/or initiate legal action(s) if User violates any provision of the terms and conditions hereof, or commits any act contrary to applicable law(s), or if User’s identity could not be verified or any information provided its false.

Intellectual Property

User with access to site and/or information contained therein expressly acknowledges CoinPiac OÜ and/or its related entities, as holder(s) and/or owner(s) of any information within the site, as of any brand(s), ad(s), trademark(s) or any other intellectual property right(s) or copyright shown in the site. Furthermore, User acknowledges CoinPiac OÜ is and has been the developer and, therefore, the owner of the concept(s) and/or website www.coinpiac.com and hereby agrees and acknowledge that such information and/or concept are protected under Estonia law(s) and international treaty provisions, thus any reproduction, modification, alteration, advantage or any other use given to such information and/or concept is forbidden and, hereby, User or any other party with access to the information above is compelled to indemnify CoinPiac OÜ and/or any related entity or affiliate, in respect to any violation as provided in this paragraph, whether in Estonia or abroad. Programs, databases, networks and files which allow User to enter and use the site are proprietary of CoinPiac OÜ and are protected under applicable law(s) and international treaty provisions on copyright, trademarks, patents, industrial designs and models. Misuse and/or total or partial reproduction of the contents thereof is prohibited, and such actions are subject to civil and criminal penalties and will be object to any and all applicable legal action(s).

18. AMENDMENTS

CoinPiac OÜ reserves the right to review and amend the these terms and conditions, at any time, without prior notice, and User will be considered informed and bound to any modifications on the terms and conditions, accepting to regularly review these terms and conditions given that its access and/or use means consenting those amendments.

CARD HOLDERS'S TERMS & CONDITIONS

Dear User,

Please read carefully the terms and conditions informed below as you enter the site and any content and applications thereof, continuing implies your consent to abide and be bound by each and any term or condition herein, as well as other policies and documents constituting or regulating your participation within the site.

If you disagree with any part of these terms and conditions, please do not use the site.

In order to ensure the security and confidentiality of the transactions provided via website www.coinpiac.com, prior identification and authentication through an access code (email/mobile) and password is required.

All data collected from our Users are treated with absolute confidentiality, used solely for the purpose of the requested use, considering the provisions of previous agreements entered to and as required by the Estonia laws.

CoinPiac OÜ reserves the right to modify information contained herein, when deemed appropriate, without prior notice.

You agree not to use the software or any other means tending to interfere the operations of the site or databases and/or information contained therein.

You agree that any activity contrary to copyright(s), intellectual property, bank secrecy, security breach to systems and/or networks and any other contained herein, will result in liability, CoinPiac OÜ has the right to exercise any and all legal action(s) in addition to compensation for caused damages.

User is forbidden to profit in any way with the services offered on the site.

FAILURES

CoinPiac OÜ is not responsible for any damage, injury or loss in User’s equipment caused by failure(s) in the system(s), server(s) or internet proprietary of CoinPiac OÜ. Further, CoinPiac OÜ will not be responsible for any virus(es) that may infect User’s equipment resulting from access and use of the site, as of transfer of data, files, images, texts, or audio contained therein or by any other circumstances. CoinPiac OÜ assumes no liability resulting from the exchange of electronic information between Users and assumes no responsibility for any technical issues that may occur on equipment used during internet connection, either by CoinPiac OÜ site(s) or other websites.

As a result from the above mentioned, User disclaims CoinPiac OÜ from any responsibility, therefore cannot demand compensation for any damages resulting from technical difficulties or failures in the system(s) or electronic media.

DISCLAIMER OF WARRANTIES

CoinPiac OÜ does not guarantee availability and continuity of the operation(s) or performance of the site, product(s) or service(s) and/or other sites where a link has been established or suitability thereof for User’s needs.

You agree that CoinPiac OÜ will not have any responsibility neither for the interruption or delay of any information, material(s) or any other detail of the services offered in the site, including without limitation, responsibility associated with any virus(es) that may infect your equipment or software, nor damages and/or losses resulting from the lack of veracity, validity, completeness and/or authenticity of the information uploaded by third parties.

CoinPiac OÜ in no event will be liable for any damages arising from

unavailability or lack of accessibility of the site, service(s) and other sites where a link has been established;
interruption in the operation of the site or service(s) or computer failures produced in the course of its performance and;
inadequacy of the site, content and/or service(s) to meet the User’s needs.
Product(s) and service(s) may contain inaccuracies and/or typographical errors, therefore CoinPiac OÜ do not guarantee the accuracy or perfection of the elements of these and the reliability of any notice, opinion, statement or any other information visualized or distributed in the site. User acknowledges that relying on any notice, opinion, statement or information will be at its own risk. CoinPiac OÜ reserves the right, at its own discretion, to correct any error(s) or omission(s) in the site, as well as any materials, product(s), service(s) or prices ,if any, described in the site, at any time and without prior notice, subject to applicable laws and regulations.

The information below is subject to constant changes, without prior notice, and may not be used for official purposes, is provided as it is, no warranties are made as to its accuracy and expressly disclaims any responsibility due to errors and omissions contained.

CoinPiac OÜ does not guarantee that all product(s) and service(s) offered in the site are available in their affiliate stores pursuant to not being viable under their geographical location and/or applicable regulations. To acquire such product(s) and service(s), it is necessary to meet the requirements established for each case by CoinPiac OÜ or its affiliates.

In order to reduce the risk of viruses on the site, CoinPiac OÜ uses virus detection programs. However, CoinPiac OÜ does not guarantee the absence of viruses, or other elements on the site introduced by third parties, that may cause alterations in the physical or logical systems of the Users or electronic and stored documents in their systems. Consequently, CoinPiac OÜ in no event, will be responsible for any damages, of any kind, arising from the presence of viruses or other elements that may alter the physical or logical systems, electronic documents or User’s documents.

CoinPiac OÜ adopts various defensive measures to protect the site against attacks by third parties. Notwithstanding, CoinPiac OÜ does not guarantee that unauthorized parties can gain access to the use of the site made by the User or conditions, characteristics and circumstances in which such use is made. Therefore, CoinPiac OÜ in no event will be responsible for damages resulting from such unauthorized access. Users are liable for damages CoinPiac OÜ suffers as a result of the breach of any obligations they are bound. User expressly agrees that CoinPiac OÜ will not be liable for any damage caused if by unforeseeable circumstances, force majeure or any other unavoidable event or circumstance beyond CoinPiac OÜ control, User is unable to use the site or transactions offered.

PENALTIES

CoinPiac OÜ reserves the right to suspend or discontinue, temporary or permanently, access to the site, at any time, to any User, and/or initiate legal action(s) if User violates any provision of the terms and conditions hereof, or commits any act contrary to applicable law(s), or if User’s identity could not be verified or any information provided its false.

Intellectual Property

User with access to site and/or information contained therein expressly acknowledges CoinPiac OÜ and/or its related entities, as holder(s) and/or owner(s) of any information within the site, as of any brand(s), ad(s), trademark(s) or any other intellectual property right(s) or copyright shown in the site. Furthermore, User acknowledges CoinPiac OÜ is and has been the developer and, therefore, the owner of the concept(s) and/or website www.coinpiac.com and hereby agrees and acknowledge that such information and/or concept are protected under Estonia law(s) and international treaty provisions, thus any reproduction, modification, alteration, advantage or any other use given to such information and/or concept is forbidden and, hereby, User or any other party with access to the information above is compelled to indemnify CoinPiac OÜ and/or any related entity or affiliate, in respect to any violation as provided in this paragraph, whether in Estonia or abroad. Programs, databases, networks and files which allow User to enter and use the site are proprietary of CoinPiac OÜ and are protected under applicable law(s) and international treaty provisions on copyright, trademarks, patents, industrial designs and models. Misuse and/or total or partial reproduction of the contents thereof is prohibited, and such actions are subject to civil and criminal penalties and will be object to any and all applicable legal action(s).

AMENDMENTS

CoinPiac OÜ reserves the right to review and amend the these terms and conditions, at any time, without prior notice, and User will be considered informed and bound to any modifications on the terms and conditions, accepting to regularly review these terms and conditions given that its access and/or use means consenting those amendments.

APPLICABLE LAW : JURISDICATION

For all matters relating to the interpretation and compliance of these terms and conditions,
CoinPiac OÜ and User are subject to applicable law(s) and courts of the City of Tallinn, Estonia, at CoinPiac OÜ election, waiving any other jurisdiction by reason of their, present or future, domiciles may correspond, or by reason of any other right.