Last updated on 17.01.2024

Terms and Conditions

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I. Preliminary provisions

These provisions constitute the rules and regulations (hereinafter referred to as: Terms and Conditions) within the meaning of Article 8 of the Act of 18 July 2002 on electronic services (Polish Journal of Laws No. 144, item 1204, as amended).
The platform https://kryptonim.com (hereinafter: Platform) is owned and operated by the is operated by Kryptonim Spółka z ograniczoną odpowiedzialnością, a limited liability company with its registered office in Warsaw (hereinafter: Company).
For the purposes of these Terms and Conditions, the following definitions shall be established:
User – a natural person of full legal capacity who has accepted the Terms & Conditions and entered into an agreement for the provision of services (any of them).
Services – services provided by the Company through the Platform.
Terms and Conditions – the present document.
Company - Kryptonim Spółka z ograniczoną odpowiedzialnością, a limited liability company with its registered office in Warsaw (00-844) at Plac Europejski 1/40, entered in the National Business Register kept by the District Court for the Capital City of Warsaw in Warsaw, 13th Commercial Division of the National Court Register under KRS No.: 0001017630, NIP: 5273040828 (Tax Identification Numberf), REGON: 52438515800000.
Platform - the website operated by the Company at the address https://kryptonim.com.
Virtual Currency - any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.
Terms and Conditions set out the principles for the provision of electronic services by the Platform and the principles for its use by Users, including the principles for the conclusion of agreements, authorization of transactions, fees for services provided by the Platform.
All trademarks, including logos and other designations displayed on the Platform are the property of the Company or its business partners. The User may not distribute or copy the content of the Site without the consent of the Company or its partners.
Before using the resources and services provided by the Platform, it is mandatory to read and accept the Terms and Conditions. If you do not agree with all the guidelines, you must immediately refrain from further actions and leave the Platform.
The Platform operates its services within the territory and under the jurisdiction of the Republic of Poland, situated in the European Economic Area. Access to the Platform is restricted to individual customers from various jurisdictions and territories, contingent upon evaluation and at the exclusive discretion of the Company. The Company retains the right to refuse and/or revoke access for customers entering the Platform from, or residing in, jurisdictions and/or territories that are subject to governmental sanctions and/or prohibited by the laws applicable to the Services and/or the Company. As of the effective date of these Terms and Conditions, the prohibited regions include, but are not limited to, the following: Afghanistan, Belarus, Cuba, the Democratic Republic of Kongo, Iran, Iraq, Libya, North Korea, Russia, Sudan, South Sudan and Syria..
The User declares that he/she is aware that there are risks associated with investing in Virtual Currencies, which include, but are not limited to, the possibility of losing all funds so invested, which may result from uncontrolled fluctuations in virtual currency exchange rates.
The Platform does not dispose of Users' funds and only undertakes activities aimed at providing the services described in these Terms and Conditions to the User.
It is forbidden for Users to provide any unlawful content, including carrying out any actions that would disrupt or harm the functioning of the Platform.
Technical requirements for using the services of the Platform:
a) connection to the Internet,
b) correctly configured browser,
c) up-to-date, active and correctly configured email account,
d) cookies and Java Script enabled,
e) software for reading PDF files.
In the event that the User uses hardware or software which does not meet the technical requirements specified above, the Platform does not guarantee proper functioning and stipulates that this may have a negative impact on the quality and course of the ordered transaction.

II. Company’s Rights and Obligations

The Platform offers electronic services, consisting of mediating and supporting the process of buying and selling cryptocurrency units in distributed ledger systems based on Virtual Currencies cryptography, as well as conducting cryptocurrency transactions directly with the Platform. The expansion of the range of Virtual Currencies available for purchase by the User takes place by updating the offer on the Platform and thus does not constitute and does not require an amendment to the Terms and Conditions.
The Company does not offer the service of creating electronic wallets to store Virtual Currencies. The User must own such a wallet in order to carry out transactions using Virtual Currencies. The Platform asks Users to be cautious when storing Virtual Currencies due to the risk of theft (e.g. by a hacker) or loss due to other technical disturbances.
The Company is not responsible for a possible loss of Virtual Currency by the User when such a situation results from factors on which the Company has no influence, e.g. equipment failures, errors in the system of exchanging Virtual Currency, negligence of third parties not connected to the Company and Platform and the Users themselves.
The Company is not responsible for the consequences of the acquisition and holding of Virtual Currencies by Users, including taxation.
The Company does not provide investment advice, including on Virtual Currencies.
The Company, through the Platform, is the direct party to each transaction with the User. The User purchases cryptocurrency directly from the Company in exchange for fiat currency, with the Company selling the specified cryptocurrency to the User as part of the transaction.
By ordering a transaction, the User declares that they are aware that there are risks associated with investing in Virtual Currencies, which include, among other things, the possibility of losing all the funds so invested, which may result from uncontrolled fluctuations in the Virtual Currency markets.
The Company applies a spread over the available market rate for each cryptocurrency transaction, which constitutes the Company's commission for facilitating the transaction. This spread is calculated and displayed to the User at the time of transaction confirmation on the Platform.
The Company quotes an exchange rate based on the prevailing market rate plus a Company-defined spread, which forms the basis for the User’s purchase or sale transaction. The final exchange rate applied to the transaction is the rate available at the time the Company receives the User’s fiat payment (the moment funds are received), rather than the time of transaction initiation. While the Company will make every effort to secure the initially quoted rate, this may not always be possible, and the Company declines any liability for discrepancies between the quoted and final rates due to timing or market fluctuations.
The Company does not guarantee a profit on the change of the exchange rate difference of Virtual Currencies.
The Company reserves the right to withhold access to certain functionalities to the User at the moment of the User's willingness to exceed the limits established (within a single transaction, the User may purchase or sell Virtual Currencies of the equivalent of 1,000.00 (one thousand) euros within 24 hours.
In the event that circumstances arise in which the Company is forced to carry out additional verification of a payment received from the User or an order placed for a transaction, the Company reserves the right to withhold the payment of Virtual Currencies or funds to the User until the doubts are clarified.

III. User’s Rights and Obligations

The User of the Platform may be any natural person of full age. The Platform does not allow the provision of services to entities other than natural persons.
By using the services of the Platform, the User declares that the data provided by them are true and that they are the sole beneficiary of the transaction being performed. The Platform shall not be held liable in any way for incorrect data provided by the User.
The Platform does not require its Users to register an account, but in order to carry out transactions using Virtual Currencies, it is necessary to provide an e-mail address and the address of the cryptocurrency wallet, as well as to read and accept the Terms and Conditions; to consent to the processing of their personal data in order to process the transaction.
Fraudulent Transactions: Users are strictly prohibited from engaging in any form of fraudulent activity when using credit cards on our platform. This includes, but is not limited to, unauthorized use of credit card information, falsifying transactions, or engaging in any deceptive practices to obtain cryptocurrency through illegitimate means.
Unauthorized Use: Users must only use credit cards that belong to them or for which they have explicit authorization to use. Any attempt to use credit card information without proper authorization is strictly prohibited.
Money Laundering: Users are prohibited from using credit cards on our platform for the purpose of money laundering or any other illegal financial activities. We adhere to strict anti-money laundering (AML) regulations and will report any suspicious transactions to the appropriate authorities.
High-Risk Transactions: Engaging in high-risk transactions, such as purchasing cryptocurrency with a credit card with insufficient funds or engaging in transactions that may result in chargebacks, is strictly prohibited. Users must ensure that they have adequate funds and authorization for any credit card transactions conducted on our platform.
Abuse of Chargeback Process: Users are prohibited from abusing the chargeback process by disputing legitimate transactions or engaging in any form of chargeback fraud. Chargebacks should only be initiated in cases of genuine unauthorized transactions or fraudulent activity.
Violation of Card Network Rules: Users must adhere to the rules and regulations set forth by major credit card networks, including Visa, Mastercard, American Express, and others. Any violation of these rules, such as engaging in prohibited activities or transactions, may result in account suspension or termination.
In addition to the above, the following activities are specifically prohibited when using credit cards on our platform:
1. iGaming and Betting: Using credit cards for online gambling, betting, or any other iGaming activities is strictly prohibited. This includes but is not limited to placing bets on sports, casino games, poker, or any other form of online wagering.
2. Adult Content: Purchasing access to adult content, adult entertainment services, or any other adult-related products or services using credit cards is prohibited.
3. Illegal Activities: Engaging in transactions related to illegal activities or products, including but not limited to drugs, weapons, counterfeit goods, or any other illegal substances or services, is strictly prohibited.

IV. Services

Carrying out transactions on the Platform begins with performing the actions specified in section III. point 3 of the Terms and Conditions. Then, using the appropriate form, the User submits an instruction to buy or sell Virtual Currencies of his/her choice (from the offer of the Platform), indicates details of the payment card to be used to pay the purchase price of Virtual Currencies or to receive fiat money from the sale of Virtual Currencies, the User is then presented with a summary of the transaction. As a final step, the User must provide the address of his/her cryptocurrency wallet. If the transaction is approved, it is executed by the Platform in accordance with the parameters indicated. If the time indicated in the summary has elapsed, it is automatically updated to the latest exchange rate. The cash or Virtual Currencies obtained from the transaction are then deposited by the Platform, according to the User's instructions - to the payment card or cryptocurrency wallet indicated by the User.
The Platform, once the transaction has been carried out, will send an email to the User's address, within which it will inform of the transaction carried out and its exact parameters, in particular the amount of Virtual Currency purchased/sold by the User and the rate approved at the time of the transaction for the User.
The Company offers the following services through the Platform:
a) providing the User with information regarding the price parameter of the offer to buy or sell Virtual Currency for his/her perusal,
b) providing the possibility to make transactions for the purchase or sale of Virtual Currencies through the Platform.
In the case of a reasonable suspicion that the transaction may violate the current anti-money laundering and counter financing of terrorism laws, the Company will suspend the transaction until the matter is clarified.

V. Buying Virtual Currencies

In order to purchase Virtual Currencies, the User selects the option to purchase a particular Virtual Currency in the transaction form on the Platform.
The Platform provides a service whereby the User can purchase Virtual Currencies directly from the Company, with whom the User contracts for the transaction. Upon specifying the desired amount in fiat currency, the User initiates a purchase transaction. The Company then sources and secures the requested Virtual Currency at the quoted rate and completes the transaction by transferring the Virtual Currency to the User’s designated wallet.
The User, by entering how much money in the currency of their choice they wish to exchange into a given Virtual Currency, makes an invitation to treat. The form automatically converts the number of units of a given Virtual Currency that the User can receive at the exchange rate indicated in the form at the time of ordering. The rate depends on the offers available on the market, is a reflection of the most advantageous market offer that the Company can offer at that moment, and is also limited in time.
The user confirms the data entered in the order form by selecting the ‘Confirm; button.
In the next step, the Platform’s system checks whether the User has indicated the correct format of the electronic wallet to which Virtual Currencies are to be transferred. The platform does not take responsibility for unsuccessful transactions due to providing a wallet address that does not support a given network of a chosen crypto asset.
Once the Platform approves the transaction, the system generates a confirmation of the order, including being sent automatically to the User's e-mail.
The use of the Platform as to services of purchase of Virtual Currencies is subject to a fee. The commission fee for the Company is indicated when placing an order for the purchase of Virtual Currencies and is collected automatically on a deduction basis.
Given the volatility in cryptocurrency values, the User acknowledges that the displayed exchange rate is provisional and may change based on market conditions. The exact exchange rate applied to the transaction is finalized at the moment the Company receives the User’s fiat payment. As a result, the amount of cryptocurrency received may vary if there is a delay between transaction initiation and payment confirmation.
The finalization of purchase transactions of Virtual Currencies takes place within 1 working day from the submission of an order by the User.
Upon completion of the purchase transaction, Virtual Currencies are transferred directly to the cryptocurrency wallet specified by the User. The User is responsible for ensuring the wallet address and network compatibility; the Company is not liable for transactions sent to incorrect or incompatible wallet addresses.
In the event that the service cannot be provided, due to the fault of the Platform, the Platform shall return the funds to the User within 3 working days, previously informing the User of this fact by means of an email indicating the parameters of the failed transaction.

VI. Personal data protection

The rules for the processing of Users' personal data are described in the Privacy Policy posted on the Platform, in that the Company processes Users' data in order to ensure the proper provision of electronic services.

VII. Complaint procedure

The User may, at any time, lodge a complaint regarding the operation of the Platform.
A claim may be submitted electronically to the e-mail address: contact@support.kryptonim.com or in writing to the Company's address, i.e. Plac Europejski 1/40, 00-844 Warsaw, Poland.
The complaint claim should include:
a) the email address at which the User made a transaction on the Platform,
b) description of the circumstances justifying the complaint and the reasons for its submission,
c) presentation of the User's demand related to the complaint.
Claims shall be considered within 14 days from the date of receipt of the application devoid of formal defects. The User shall be informed of the way in which the claim has been handled by e-mail to the address indicated in the claim or in writing, if such contact was indicated as appropriate in the claim.
In the event of a dispute between the Platform and the User as to the validity of a refusal to consider a complaint, the User who is a Consumer has the right to use out-of-court ways of dealing with complaints and investigating claims. The User may use mediation or an amicable court by providing the institution before which the proceedings will take place with an appropriate form - an application for mediation or an application for consideration of a case before an amicable court. At http://ec.europa.eu/consumers/odr, the consumer has access to resolve consumer disputes electronically through the EU online platform (ODR platform).
Users are advised to find out what out-of-court consumer dispute resolution is available in their country and the Company will proceed with such a procedure if necessary.

VIII. Rescission

The User does not have the right to withdraw from an ordered exchange transaction. The prices of the exchanged values stated on the Platform depend on price movements on the Virtual Currency market, over which the Platform has no control, and these may occur before the end of the withdrawal period.

IX. Final provisions

These Terms and Conditions shall govern the terms and conditions of the agreement concluded between the Company and the User on the intermediation of transactions of purchase or sale of Virtual Currencies in exchange for funds, as well as the terms and conditions of the agreement of sale of Virtual Currencies between the Company and the User.
The Company reserves the right to change the Terms and Conditions. The Platform shall notify registered Users of any change to the Terms and Conditions by email with the right to terminate the agreement within 14 days. Amendments to the Terms and Conditions shall become effective 14 days after notification. Transactions ordered before the date of entry into force of amendments to these Terms and Conditions shall be executed on the basis of the provisions in force on the date of ordering the transaction.
Amendments to the Terms and Conditions may be made in particular for the following reasons:
a) the need to adapt the provisions of the Terms and Conditions to the provisions of commonly applicable law,
b) issuance of a ruling by a common court of law or issuance of a decision by a state authority resulting in the necessity to amend the Terms and Conditions,
c) change of regulations within the scope of activity conducted by the Company,
d) change of the market situation in the field of activity of the Company,
e) improvement by the Company of the security, functionality or level of protection of personal data,
f) extension, improvement of the functionalities of the Platform or discontinuation of certain functionalities within the Platform.
Any changes to the provisions of the Terms and Conditions will also be announced by the Company in the form of a relevant announcement on the Platform.
The applicable law is Polish law. Any disputes arising between the User and the Company will be settled by the court having jurisdiction over the seat of the Site, with the reservation that, with regard to consumers, such disputes will be settled by the court having jurisdiction over consumer affairs.
Terms and Conditions shall be governed by and construed in accordance with the laws of Poland.
These Terms and Conditions do not limit any consumer rights to protection that you may be entitled to under mandatory provisions of law in your country of residence.

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Information for UK customers

Important Information Regarding Cryptoasset Investments

Cryptoasset investments carry significant risk and are largely unregulated inthe UK. Therefore, you are generally not protected by organizations such as theUK Financial Conduct Authority (FCA) or the Financia Services CompensationScheme (FSCS). Please read the following information carefully before makingany investment decision.

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Risk Warning

Capital at Risk: The value of cryptoassets is highly volatile, and you may lose all the money you invest. The price of cryptoassets can rise and fall significantly in a short period, and past performance is not indicative of future results.
No Regulatory Protection: Cryptoassets are largely not regulated by the FCA, and therefore you will not be protected by the Financial Ombudsman Service or the FSCS if things go wrong.
Market Volatility: The cryptoasset market operates globally and continuously, leading to high volatility. Changes in market conditions, global events, and regulatory developments can have immediate and unpredictable effects on cryptoasset values.
Suitability: Cryptoassets are generally suitable only for individuals who are experienced in high-risk investments and can afford to lose their investment in full. We strongly recommend that you carefully assess whether investing in cryptoassets aligns with your risk tolerance and financial objectives.
Hard to spend: you can’t spend cryptoassets like cash as few retailers accept cryptocurrency such as Bitcoin as payment. Therefore, you have to sell them on an exchange, with their associated security issues. If you’re storing your cryptoassets on a password-protected personal hard drive or memory stick and you lose or forget the password, you may well have lost access to your investment altogether.
Tax Implications: Gains or losses from cryptoasset investments may have tax implications. Please consult a tax advisor to understand your obligations.

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Important Disclosures

No Guaranteed Returns: We do not guarantee any specific return or profit from cryptoasset investments. Claims of guaranteed returns are misleading and should be avoided.
Lack of Consumer Protections: Since cryptoassets are largely not regulated in the UK, you are not afforded the same protections as with traditional financial products. This includes no access to redress mechanisms in the event of fraud or mismanagement.
Risk of Scams and Fraud: The cryptoasset industry is susceptible to scams, phishing attacks, and other forms of fraud. Exercise caution when receiving unsolicited offers or advice related to cryptoassets.

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Assessing Your Investment

Conduct Thorough Research: Ensure that you fully understand the specific cryptoasset and the associated risks before investing. Consider consulting a financial advisor if you are uncertain.
Risk Assessment: Only invest money that you are prepared to lose entirely. The potential rewards of cryptoassets come with high levels of risk that are not suitable for all investors.
Due Diligence: Make sure you conduct independent due diligence on the provider and the cryptoasset being offered. Verify any claims made about the cryptoasset’s performance, utility, or value.

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Additional Resources and Support

Financial Conduct Authority (FCA): The FCA provides consumer warnings and resources about cryptoasset risks. Visit the FCA website for more information.
Independent Financial Advice: Consider seeking advice from a qualified financial advisor who understands cryptoassets and can help you make an informed decision.

By proceeding with a cryptoasset purchase, you acknowledge that:

You fully understand the risks associated with cryptoasset investments.
You have the financial means to bear the loss of your entire investment.
You accept that cryptoasset investments are not covered by regulatory protections in the UK.