Coingrab OÜ (registry code 14813343)
Version No.1 valid as of 21/05/2020
1.1. This Website (together with the documents referred to in it) tells you the terms of use on which you may make use of the website at http://www.cointic.com/ ("our site"). These Terms & Conditions (hereinafter „Conditions“, “Terms and Conditions” or “Terms”) are published on the company’s website: http://www.cointic.com/, and accordingly all information and agreements posted on this website and accepted by the parties, constitute legal relations between the parties and are the agreement between the Client / User and the Coingrab Private Limited Company (collectively, “Coingrab OÜ”, “Company” “us” or “we”). The Coingrab OÜ is a legal entity registered in the legal jurisdiction of the Republic of Estonia.
1.2. These Terms apply whether you use our site as a guest or a registered user. Use of our site includes accessing, browsing, or registering to use our site. Please read these terms of use carefully before you start to use our site. We recommend that you print a copy of this for future reference. Our Company license allows our clients to perform transactions not only in cryptocurrency, but to trade the major world currencies supported by the system.
1.3. By using our site, you confirm that you accept these terms of use and that you agree to comply with them. If you do not agree to these terms of use, you must not use our site.
Please read these terms and conditions carefully.
We do not provide any investment advice relating to our crypto service. You should carefully consider whether your personal situation and the financial risks you are willing to take mean that you should not buy cryptocurrencies. You may want to speak to an independent financial adviser.
Company
Coingrab OÜ, Estonia, its subsidiaries and/or assigns, registered in the legal jurisdiction of the Republic of Estonia.
System
Platform Coingrab OÜ served by the company Coingrab OÜ, its subsidiaries and/or assigns - services in the computer network (hereinafter referred to as the Internet), at the address http://www.cointic.com/, intended for the use of services provided by the Company.
Law
Money Laundering and Terrorist Financing Prevention Act passed Passed 26.10.2017 Entry into force 27.11.2017, EU Anti-Money Laundering Directive (AMLD 5).
Authentication
Registration procedure in the Coingrab OÜ website, which allows the Company to verify that the connection was made by User by means of electronic identification data.
Electronic Identification Data
User e-mail address, password and user-generated access code ensures secure authentication.
Verification
AML procedures, performed by the Company for the receipt and processing of a set of documents from the User confirming the occupation and the identity of the User, or the identity of the authorized persons of the User, as well as describing the User’s activities.
User
Individual or legal entity that is registered in the system.
Buyer
User who makes an order to buy Cryptocurrencies on Coingrab OÜ Website.
Seller
User who submits an Order to sell Cryptocurrencies on Coingrab OÜ Website.
Trading Fees
Fees to be paid to Coingrab OÜ associated with all transactions within the System.
Account
User personal access to the Company services.
Transaction
Transactions from the Client Account to other accounts of Client after money exchange.
Fiat Currency
Legal Currency of a nation, backed by the government issuing it.
Virtual currency
Virtual currency a value represented in the digital form, which is digitally transferable,
preservable or tradable and which natural persons or legal persons accept as a payment instrument, but that is not the legal tender of any country or funds
for the purposes of Article 4(25) of Directive (EU) 2015/2366 of the European Parliament and of the Council on payment services in the internal market, amending Directives
2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, pp. 35–127) or a payment transaction for the purposes of points (k) and (l) of Article 3 of the same Directive;
Virtual currency wallet service
Virtual currency wallet service a service in the framework of which keys are generated for customers or customers’ encrypted keys are kept, which can be used for the purpose of keeping, storing and transferring virtual currencies.
Virtual currency exchange service
Virtual currency exchange service a service with the help of which a User exchanges a virtual currency against a fiat currency or a fiat currency against a virtual currency or a virtual currency against another virtual currency.
High-risk third country
High-risk third country a country specified in a delegated act adopted on the basis of Article 9(2) of Directive (EU) 2015/849 of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes
of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141/73, 05.06.2015, pp 73–117).
3.1. This Agreement governs the relationship between the Company and the User. By entering into a business relationship with the Company, the User confirms that he is familiar with these Rules, and is in agreement with the Rules and recognizes them as binding.
3.2. Company services:
3.2.1. Opening of account (e-wallet) in the Company system with a special mode of operation. The following cryptocurrencies are available through our crypto services.
3.2.2. Implementation of the account transactions by using the electronic platform of the Company;
3.2.3. Provision of online information about the cross-currency rates from various sources and trading platforms;
3.2.4. Provision of the ability of the use of mobile applications for the work with the Company System.
4.1. This Agreement is offered under the terms of the public offer and is posted on the Internet on the home page of the Company. The Agreement is deemed to be concluded at the time of acceptance by the User of the Company’s offer. The Company and the User recognize that filling the online registration form for the services in the System on the Company’s website shall be deemed the acceptance of the offer (acceptance by the User of the Company’s offer to conclude Agreement).
4.2. Acceptance of this Agreement is the unconditional and complete acceptance of all the terms of the Agreement and their acceptance by the User without any amendments and (or) additions on their part.
4.3. The Company reserves the right to refuse the commencement of cooperation with the User without reason.
4.4. The Users confirm (acknowledgment is the acceptance of this agreement) that they undertake to pass the identification procedure and comply with the requirements provided by the AML / KYC procedures and requirements arising from the Money Laundering Act. In the event of refusal to undergo these procedures and / or providing inaccurate information, the tokens received by the user may be lost. Accepting this agreement, the User confirms these conditions are clear to him and he agrees to them. The Company shall reserve the right to carry out additional verification procedures while entering into a business relationship with the User. Those include, but not limited to:
4.4.1. Natural persons:
4.4.2. Legal entities:
4.5. If the User has not been identified personally by a representative of the Company, and if the authenticity of the submitted documents for the servicing in the System is not verified with the originals by a representative of the Company, the Company shall reserve the right to carry out additional User verification procedures.
5.1. The User can instruct the Company to buy virtual currency or fiat currency in the User account and make a transaction to the User wallet/account.
If you do, please follow the procedure below:
If you instruct us to sell virtual we will:
You cannot receive the proceeds from a sale in any other way.
7.1. You can apply to open an Account provided that:
8.1. The Fees List sets out the fees you must pay to us to perform transactions. The fees we charge are set out upon conducting the transaction.
8.2. We deduct any conversion charges and fees for loading funds into your Account. This means the amount we load may be less than the amount you transfer to us. Once you have loaded to Your Account, when you instruct us to make a Transaction we will transfer the full amount you instruct us to transfer and deduct any fees from the balance on Your Account.
When using the Services, the User must:
9.1. comply with the instructions for use of the Services, including any instructions in your Account, or any operational or user documentation that we may make available to you, including all such information relating to the use of our Services available on our Website;
9.2. use the Services only for the purposes listed in the Application Form;
9.3. only use the Services for your own purposes, and not for the purposes of any third party;
9.4. to comply with all applicable laws and regulations, these terms of service and all rules applicable to the use of the Website and the Service;
9.5. not to falsely describe or otherwise misrepresent yourself in any dealings with the Company;
9.6. You are not allowed to use any means to mask your internet traffic and IP address;
9.7. The User shall have the right:
9.7.1. To generate requests in the System according to the list of requests, implemented in the System;
9.7.2. To get consultancy services from the Company's support service on the operation of the System, as well as on the use of products and services offered by the Company;
9.7.3. To apply for Account activation and access unblocking to the System;
9.7.4. To cancel unexecuted Trade Application, to change their settings, if permitted by the terms of the Trade Application;
9.7.5. To transparent information, communication and modalities for the exercise of the Users rights as the data subject under General Data Protection Regulation (GDPR) and General Data Protection Act (Estonia). The GDPR provides the following rights for individuals without undue delay and within one month of receipt of a relevant User request.
9.8. The User confirms that all the information provided by the User is accurate and not misleading, and that all the documents submitted by the User are correct and valid. The User shall immediately inform the Company of any changes in the information and/or documents provided by the User.
9.9. User agrees not perform the following RESTRICTED ACTIVITIES:
9.9.1. Directly or indirectly carry out or assist with the legalization of funds obtained by criminal means. All funds available on the user's account must be obtained by non-criminal means.
9.9.2. Open an account for others, or in a name other than personal legal name, and provide fraudulent identification document.
9.9.3. Do not use the services offered by the Company in jurisdictions, where it is prohibited by law.
9.10. The User confirms and agrees:
9.10.1. That the Company will not credit wire transfers to the User’s Account until the Company can properly identify and authenticate the User and the Account.
9.10.2. That the Company will not accept third party transfers. All national currency transfers to and from Users’ Account must be paid from or be received by a bank account held in Users’ name.
10.1. You may have to pay taxes or costs on our crypto services. We are not responsible for collecting these from you, for making any payments on your behalf, or for providing any reports relating to tax.
11.1. The Agreement shall enter into force on the date of the registration of the User in the System, and is continued for an indefinite period.
11.2. The Agreement may be terminated by mutual agreement of the Parties.
11.3. The Company shall have the right unilaterally to withdraw from the execution of this Agreement upon entry into force of the circumstances specified in 9.9. or 4.3. hereof.
11.4. The User shall have the right unilaterally to terminate the execution of this Agreement if they have no debts to the Company.
11.5. All other matters not covered by this Agreement shall be governed by Law of Estonia.
12.1. Except as expressly provided for in this Agreement, to the maximum extent permitted by applicable law, the Company does not make any other warranty of any kind, whether express, implied, statutory or otherwise, including warranties of merchantability, fitness for a particular use and non-infringement.
12.2. The Company is not responsible or liable for the deletion, failure to store, or any loss of any customer data, including blockchain data and Cryptocurrency rewards derived, maintained, or transmitted through use of the Web-Page and/or the Services.
12.3. The Customer is solely responsible for securing its data and Cryptocurrency rewards.
12.4. The Company is not responsible or liable for any losses or opportunity costs resulting from blockchain network and protocol or third-party software issues, which may in turn result in the inability to process transaction on the blockchain at all or without incurring substantial fees.