Fiat account and Conversion Service

1.  What terms and definitions do we use?

As used in these Terms, including the preamble hereof, unless expressly otherwise stated or evident in the context, capitalized terms and expressions shall have the meanings as stipulated under “General and wallet” chapter.

2.  How to add Fiat funds to your Account?

2.1.  In order to add Fiat funds to your Account you must transfer at least 10 euros to the account provided by us, which will be added to your Account, from an account opened under your name in a credit or financial institution, registered or having its place of business in a contracting state of the European Economic Area. Any following transaction may be made from a different account, provided it is opened in your name.

2.2.  You acknowledge that all of the Fiat funds described in these Terms must belong to you and all the accounts described in these Terms must be opened under your name.

2.3.  We reserve the right to decline accepting Fiat transfers to our account from any account due to any reason or decline transferring funds to an account that was not used to make a transfer in accordance with clause 2.1 by notifying you thereof.

2.4.  In case we decline accepting Fiat transfers, the funds will be immediately returned to your account opened in a credit institution in accordance with the law.

3.  How to withdraw Fiat funds from your Account?

3.1.  You are entitled at all times to instruct us to withdraw any Fiat funds from your Account by instructing us to transfer them to an account you previously transferred funds from as described in clause 2.1.

3.2.  We reserve the right to decline to perform a withdrawal, if the withdrawal amount is lower than 10 euros.

3.3.  In the case of Account closing you must instruct us to transfer all of the fiat funds to an account you previously transferred funds from as described in clause 2.1 and we will transfer it to your account in accordance with the law.

4.  How to buy cryptocurrency?

4.1.  In order to buy a supported cryptocurrency with the Conversion Rate in exchange for a specified Fiat currency in accordance with these Terms, you must have had transferred the Fiat funds required for the transaction, as shown to you in the Apps or Website, to our account in accordance with clause 2.1.

4.2.  In order to buy a supported cryptocurrency in exchange for another supported cryptocurrency in accordance with these Terms you must have had transferred to us the equivalent amount of supported cryptocurrency, which is to be used in exchange for the requested supported cryptocurrency and will be automatically debited from your Wallet.

4.3.  In order to buy a supported cryptocurrency with the Conversion Rate in exchange for a specified Fiat currency or supported cryptocurrency, but not having transferred the required amount of the specified Fiat currency or supported cryptocurrency to us, the required specified Fiat currency or supported cryptocurrency must be held at your account or Wallet during the time of buying the supported cryptocurrency as a result of using the Conversion Service.

4.4.  In case you have requested to buy a supported cryptocurrency, the amount of supported cryptocurrency bought by you will be transferred to your Wallet after the completion of the relevant transaction.

5.  How to sell cryptocurrency?

5.1.  In order to sell a supported cryptocurrency with the Conversion Rate in exchange for a specified Fiat currency in accordance with these Terms, you must have had transferred to us the equivalent amount of supported cryptocurrency, which is to be used in exchange for the requested Fiat currency and will be automatically debited from your Wallet.

5.2.  In case you have requested to sell a supported cryptocurrency in exchange for a specified Fiat currency, the amount of specified Fiat currency will be transferred to your Account after the completion of the relevant transaction specified in your instruction.

6.  How are the transactions carried out?

6.1.  We carry out the transactions described in these Terms on the basis of irrevocable instructions from you, which can be submitted through the Apps or Website.

6.2.  You are not allowed to cancel, reverse, or change any transaction marked as complete or pending after the submission of an instruction submitted in accordance with these Terms. We may unilaterally decline to carry out the transaction by notifying you thereof on the Website and/or in the Apps, and return you the relevant instruments, and shall assume no liability for any damages which arise to you as a result thereof.

6.3.  You are displayed all supported cryptocurrencies with the estimated Conversion Rate prior to submitting the instructions in accordance with these Terms and/or exact Conversion Rate for transaction(s) marked as complete. By submitting the instructions in accordance with these Terms you irrevocably confirm to carry out the transaction without certainty of the Conversion Rate.

6.4.  After receiving the instructions in accordance with these Terms, we will complete the requested transaction within 5 business days after receiving the payment (whereas a business day is considered to be a day when banks are open for business in Estonia), unless we decline to carry out the transaction in accordance with clause 6.2. We reserve the right to delay any transaction without notifying you thereof, should we perceive a risk of fraud or illegal activity.

7.  What are your liabilities?

7.1.  Should you breach any obligations described in these Terms, we have the right to refuse to carry out the requested transactions by notifying you thereof on the Website and/or in the Apps, and we shall assume no liability for any damages which arise to you as a result thereof.

7.2.  We cannot guarantee and are not liable for the availability of the Conversion Service, and the act of buying supported cryptocurrency is not and may not be considered a guarantee from us that you could sell the cryptocurrencies or Fiat currencies obtained using the Conversion Service back to us.