TERMS AND CONDITIONS FOR USE OF VIRTUAL CURRENCY SERVICES

These Terms and Conditions (hereinafter referred to as the ‘Terms’) and each of the documents We refer to in them are our standard customer agreement, which creates a legally binding agreement between You (hereinafter referred to as ‘You’ or the ‘Customer’) and BALTBIT Sp. z o.o. (hereinafter referred to as ‘We’ or ‘BaltBit’) relating to the use of virtual currency services provided by Us and the use of BaltBit platform and website.

BALTBIT Sp. z o.o. is a limited liability company duly incorporated in the Republic of Poland with registered company No 7011150014 and registered office address at Hoża 86, Apt/ Room 210, Warsaw, Poland, 00-682.

BaltBit is authorized by the Polish Revenue Administration Chamber (https://www.gov.pl/web/national-revenue-administration/about-us) to conduct virtual currency business activity (Certificate No 2401-CKRDST.4225.305.2023, Reference No RDWW-808), in particular, services in the exchange of fiat currency for virtual currency, and virtual currency for fiat currency, as well as custodian virtual currency wallet services enabling You to hold, store, transfer, and manage Your balances of supported virtual currencies (hereinafter referred to as  the ‘Services’).

The Services are available via BaltBit platform (hereinafter referred to as the ‘Platform’) exclusively.

The Platform is an automated online system located on www.baltbit.com  (hereinafter referred to as the ‘Website’).

For Your own benefit and Your right protection, please read these Terms and each of the documents We refer to in them carefully before accepting them and ensure that You fully understand them, especially with respect to the provisions that exclude or limit Our liability and exclude or limit Your rights and interests.

If any questions occur, please do not hesitate to contact BaltBit for clarifications before continuing. You can contact Us at out registered offices address: Hoża 86, Apt/ Room 210, Warsaw, Poland, 00-682, or also by email at: [email protected].

BaltBit gives no financial, investment, legal or other kind of ADVICE regarding management and use of the customer’s VIRTUAL CURRENCY (assets) and shall not provide the Customer with risks assessment while using the Services. BaltBit may only consult the CUSTOMER on (I) conditions of the Terms and provisions of Services the CUSTOMER APPLIES FOR, (II) PLATFORM use and technical options, (III) CUSTOMER’S Personal Data protection, (IV) consumer’s rights, (V) mandatory binding regulations GOVERNING PROVISION OF SERVICES.

For Your own benefit and Your right protection please carefully assess the risk of loss while transacting virtual currencIES and be aware that risk of loss is substantial as the value of virtual currencIES is subject to extreme volatility.

You should therefore carefully consider whether trading or holding virtual currency is suitable for You considering Your financial condition and profitability expectations.

By applying to BaltBit services, ACCESING OUR PLATFORM AND USING Our website, You ACKNOWLEDGE THAT YOU HAVE READ and understood THESE TERMS AND agree TO comply with them.

The use of certain/new/amended BaltBit services, not mentioned above herein, is subject to the additional terms and conditions which You will be timely notified on in advance. You will need to read them carefully. You will be able to use certain/new/amended services, not mentioned above herein, only when You have read and accepted additional terms and conditions.

We remain fully liable to inform You in a duly manner on any changes and amendments to the Services, providing availability of updated terms and conditions on the Website free of any charge.

You should regularly follow amendments to the documents available on the Website. For this purpose, without prejudice to the other provisions defined in these Terms, and without excluding Our information obligations, You should at least once per month visit the Website and follow updates to the documents regulating our mutual obligations.

If You do not agree to the additional/updated terms and conditions for certain/new/amended BaltBit services or refuse to recognise BaltBit right to make amendments to these Terms from time to time, You shall promptly stop using the Services already provided to You. The continued use of BaltBit Services, after any amendment to these Terms, constitutes your acceptance of the amended Terms.

For the purposes hereof, a customer shall mean a private individual to whom We provide the Services, i.e., on whose name We open the wallet and on whose behalf We execute virtual currency transactions (hereinafter referred to as the ‘Customer’).

To use BaltBit Services You should access the Platform via the Website and proceed with the registration.

Within registration process You need to complete a special form questionnaire, provide requested data and documents, and pass through ‘know your customer’ procedure (the ‘KYC’), which is subject to the mandatory anti-money laundering governmental regulatory requirements and Our internal anti-money laundering procedures.

BaltBit reserves the right to request additional information and documents from You if required to do so by the applicable laws and regulations, and Our internal procedures. This rule applies both to the new Customers within registration process and any existing ones. If You do not provide the requested information or documents, We are entitled to deny your registration and establishment of business relationships, or limit access to the Platform and Services for existing Customers.

All information, i.e., data and documents, provided by You while proceeding with the registration and later while using the Services, will be treated in accordance with our Privacy Policy available on the Website,  https://baltbit.com.

If Your have successfully completed the registration, then business relations shall be deemed established and personal account created for the Customer on the Platform (hereinafter referred to as the ‘Account’).

We open the Account only on the name of the Customer. An account is opened for an indefinite period, except when early terminated in accordance with provisions laid down in these Terms.

It is not allowed to open and maintain anonymous accounts. If otherwise, We reserve the right to terminate business relationships, terminate the Account, access to the Platform and provision of Services with immediate effect.

BaltBit will generate only one Account for the Customer. Customer shall use the Account only for itself, and not for the benefit of any third party. If Account is registered and used for the benefit of third party, the Customer should notify Us on this party and provide this party identification data and information, as well as other information reasonably requested by Us for KYC (Know Your Customer) purposes.

Customer is fully liable for all activities made through the Account.

You manage the Account via the Platform, logging into the Account with Your login name and password. You ought to create a strong password in compliance with security instructions provided by Us. You should not use the password created for any other websites or online services.

Accepting these Terms, You warrant and guarantee that:

• You are of legal age to form a binding contract (at least 18 years old). BaltBit does not provide Services to the minors,
• You are not located in, or is not a resident of country which BaltBit recognizes as non-cooperative and you are not an US resident,
• We have previously suspended the Services for You,
• You will not use the Services if any applicable law in Your home country prohibits You from doing so,
• virtual currency (-ies) stored on the Wallet and funds used for transactions are of legal nature and You have not obtained them because of criminal activity,
• Services provided by Us will not be used for any illegal purposes, including actions and transactions to legalise funds derived from criminal offenses or other illegal activities,
• You will comply with the Terms and any documents we refer to in them, any supplements hereto, applicable governmental regulation, BaltBit internal rules and procedures governing provision of Services, including AML/CTF rules,
• You will not provide false, misleading, or incorrect information to Us,
• You will pass through KYC procedure and submit all data and information reasonably requested by Us,
• You will inform Us in a timely manner on any changes to the information and data previously submitted. If Customer fails to do so, We shall be free from any liability regarding correct and accurate execution of submitted Orders and the Customer shall bear any losses, also in relation to any third party, that may occur due to the submission of invalid data.

BaltBit retains the right to suspend provision of Services till You have not submitted Us updated data and information,

• You will not use Services in a way which may cause or causes losses, liability or other negative legal or financial consequences or damage to the business reputation of BaltBit or any third party, other BaltBit Customers,
• You will not try to login into the Platform and Account as an anonymous user (i.e., via proxy servers) or to create more than one Account, or to register by fictitious or someone else name without having the power of attorney, or to register an Account intentionally using the services of anonymous phone numbers or e-mail addresses provided by other individuals or websites,
• You will not use the Account for services or goods recognized as prohibited by the law or contradict public order, moral principles and BaltBit internal rules,
• You knowingly will not provide to third parties false, misleading, or incorrect information about Us, Our Services and cooperation terms and conditions,
• You will observe and respect BaltBit and third parties’ trademarks, copyrights, commercial secrets, and other intellectual property rights. This clause shall not apply to the Customer in so far, as the Customer being in good faith, did know and could not know on existence of trademarks and copyrights, or that information being at it/his/her disposal constitutes a commercial secret,
• You will not knowingly spread computer viruses and will not undertake other actions that could cause Platform’s malfunctions, information damage or destruction and other damage to the Platform functionality, provision of Services in a due manner, BaltBit equipment,
• You will not disclose Platform access credentials (login, password, username, cods, etc.) and other personalized safety features to third persons and allowing other persons to use Services under the name of the Customer,
• (xviii)You will reimburse in full and keep Us harmless against any direct costs and losses which may arise to Us if the Customer fails (in full or partially, including but not limited to, omission or wilful misconduct) to perform his/her obligations under the Terms or such costs or losses have arisen due to the Customer’s unlawful activities,
• You shall remain liable for maintaining adequate security and control of the Account details, including all usernames and e-mail addresses, passwords, two-factor authentication codes or any other codes or credentials used to access the Services,
• You will notify Us as soon as practicable of any breach of security by sending an e-mail to [email protected] with the subject line ‘Security breach’ and including all details relevant to the breach.

In case of any security breach by You, We endeavour to contact You by e-mail informing on details of the breach including the nature of any information compromised as appropriate and the steps We will be taking to address the breach within 72 hours of the discovery of the security breach.

In the event of any security breach on a large scale, We will endeavour to contact You with the full details of the breach as soon as this information becomes available.

BaltBit reserves the right, at its sole discretion, having reasonable grounds, to refuse the Customer and not to establish business relations, create the Account and provide the Services.

BaltBit reserves the right, at any time and at its sole discretion, having reasonable grounds, to suspend or terminate any existing Account and terminate business relations established with the Customer.

At Customer’s request submitted by means of Account, BaltBit may generate a wallet for Your virtual currency storage (hereinafter referred to as the ‘Wallet’). You are fully liable for and bear full risks of virtual currency (-ies) stored with Us.

The ownership of the virtual currency (-ies) stored in the Wallet remains with You. In no case, BaltBit may borrow, sell, transfer, loan, encumber or pledge Your virtual currency (-ies), stored in the Wallet, not to get any title over Your assets hold with Us.

We do not store, safeguard, or administer fiat currency on Your behalf. Any governmental or other compensation scheme to cover losses claimed using the Services do not cover the Account and virtual currency (-ies) stored in the Wallet.

We may not restrict Your access to the virtual currency (-ies) stored in the Wallet only having Your direct consent to do so, or except when BaltBit is required to do so by the relevant regulations.

We provide Services based on the Customer’s order submitted to BaltBit by means of the Account, i.e., an order to:

• purchase of virtual currency by You from Us via the Platform,
  or
• sale of virtual currency to Us by You via the Platform, or
• deposit of virtual currency initiated by You to Your Wallet, or
• withdrawal of the stored virtual currency (-ies) initiated by You to another public blockchain address,

hereinafter referred to as the ‘Order’.

Each Order within the meaning of point (i) and (ii) above is a two-party transaction involving only BaltBit and You.

We may execute Orders mentioned in (i) and (ii) above by means of card payment or payment transfer, or other means acceptable by Us.

In case of withdrawal of the virtual currency stored, Your Wallet must have sufficient balance to process the Order, including any fees applicable.

BaltBit retains the right at any time to amend the list of available virtual currencies without any prior notice to You.

Without prejudice to other provisions laid down in these Terms, You should generate the Order in accordance with the detailed and accurate instructions provided by Us, valid at the Order execution moment.

We will execute the Order at the latest on the next business day following the actual date of it receipt. If the date of receipt is not a business day, We will be deemed to have received the Order on the following business day. We execute immediately the Orders for transactions within the Platform, unless We suspend execution of the transaction due to provisions set forth hereof.

For the purposes of these Terms, a business day shall mean any calendar day, apart from Saturday, Sunday, and public holidays in the Republic of Poland or any other day defined by Us and in a duly manner noticed to You.

Working hours of BaltBit shall mean a time from 9.00 AM to 6.00 PM WET (Western European Time/UTC) on each business day, when We provide our Services to the Customers, handle Orders and execute transactions.

We consider the Order completed when:

• BaltBit makes a transfer of the required virtual currency amount to the wallet designated by the Customer (if Customer applies virtual currency purchase transaction), or
• BaltBit makes a transfer of the required fiat amount to the payment account designated by the Customer (if Customer sells virtual currency), or
• You receive the required amount of virtual currency to Your Wallet, or
• We have transferred the required amount of virtual currency to another public blockchain address indicated by You.

If the Customer submits an incorrect Order, but the Order has not been proceeded yet, You may send Us a request to correct the Order. You should send the e request via the Account.

If You have indicated incorrect data about the recipient, it shall be considered that BaltBit has fulfilled its obligations properly and shall not repay You the amount transferred under the wrong instructions provided by You in the Order.

If obvious discrepancies in the submitted Order are identified by Us, We retain the right to refuse execution of such Order.

We maintain and regularly update the list of non-cooperative jurisdictions and industries. We retain the right to refuse any Order by any means related to a non-cooperative jurisdiction or industry, i.e., by mean of sender or recipient, payer or payee, payment service provider, etc.

In no events We shall execute the Order if we reasonable know that You rights to dispose virtual currency (-ies) in the Wallet are restricted or suspended, i.e., assets being under the arrest, encumbrance, collateral, other claim exists over the assets.

BaltBit retains the right to require documents proving the lawfulness of the origin of funds related to the Order. In case You fail to submit requested documents, We are entitled to refuse to execute the Order.

We also retain the right to refuse any Order at Our sole discretion and without giving rise to any right to compensation. Our refusal shall be objectively reasonable.

Due to the volatile nature of virtual currency markets and the fact that price can fluctuate significantly, there may be instances where the price of virtual currency amount has moved between the time when You have submitted the Order and the time when We have processed the Order. Sometimes, price fluctuation cause losses to You. As a result, the final virtual currency purchase price may differ from the price specified when placing an Order.

We retain the right to execute Your Order only after We have received Your payment in full, less any fees and commissions for the Order execution subject to the BaltBit fee schedule, and We will execute the Order for the price being at that moment.

Accepting these Terms, You irrevocably consent to the above provision and recognize that it can be unprofitable to You. You irrevocable agree that You may not cancel the Order due to price fluctuation reason. We may cancel the Order only in cases directly stipulated in these Terms.

Once We have executed the Order, We cannot cancel it. We may apply fee for Order correction, cancelation and assets recall subject to the fee rates specified in the fee schedule of BaltBit.

If virtual currency transferred under the submitted Order is returned due to reasons beyond Our control, We will credit then returned amount to the Wallet. We reserve the right not to return fees paid for Order execution. We may also apply other fees related to the returning of assets according to Our or third party involved into the transaction fee schedule.

If You notify Us that the We have incorrectly executed the Order, We will refund the amount of the incorrectly executed transaction without undue delay. The Order is then may be resubmitted correctly.

BaltBit is not responsible for delays or failures in the handling of Orders arising beyond Our control, such as any problems in the telecommunications, computer, and other systems; block or closure of the accounts, freezing or holding of funds, denial of service; change of political regimes, civil strike; and actions of third parties, which are beyond the control of the Platform.

Claimed refunds terms and conditions are subject to the BaltBit Refund Policy available on the Website,  https://baltbit.com.

We may charge a fee for provision of Services and executing the Order in accordance with the fee schedule available on the Webpage,  www.baltbit.com. We will inform You on the amount of fee applicable before authorizing the Order.

We retain the right to amend a fee schedule unliterally. If we rise a rate of particular fee or apply a new fee, You will be properly notified in advance, at least a month prior to the new fee /new fee rate effective date. If You do not agree to the amendments made to the fee schedule, You are entitled to terminate business relationships and usage of Services provided by Us. In this case you should inform Us via the Account.

We may decrease or cancel fee rates at Our own discretion with no information obligation.

If the Customer uses the Services through the third parties, fees for buying virtual currencies in exchange for fiat currency and for the fiat currency transfers to the payment account/payment card may differ from the BaltBit established fees. Nevertheless, We will inform You in advance, prior to transaction execution, on all fees charged from You.

You shall pay all fees in the currency indicated in Our fee schedule, except as parties agreed otherwise, then we retain the right to execute currency exchange. We may apply a currency exchange fee.

Without prejudice to other provisions set forth in these Terms, You may terminate Your Account on the Platform at any time by giving Us respective notice via the Account.

We will deduct all applicable fees, other charges, commissions, and costs reasonable charged from You and related to the Services provided and execution of Your Orders from any assets received from You/being at Our possession with no prior notification obligation. Accepting these Terms, You irrevocable confirm and give Us the consent to do so.

We retain the right to record and store Orders submitted and to record and store information about all transactions performed by You. Retention period should not be less than 5 (five) years, We may extent this term under the direct regulatory requirements applicable to BaltBit.

We retain the right to record and store Your submitted personal data, i.e., information, data, and documents. Personal data retention period shall not be less than 5 (five) years.

We may share and transfer (including cross-border transfer) Your personal data to our partners to prescribed by the applicable personal data laws and regulations. BaltBit Privacy Policy governs processing and transfer of personal data. Privacy Policy is available on the Website,  https://baltbit.com.

The Website may include links to third parties’ websites, plug-ins, and applications. Clicking on those links or enabling those connections may allow third parties to collect or share data about You.

We do not maintain joint controller relationship with any third party. We do not control these third parties’ websites and We are not responsible for their privacy notices, statements, or policies. We encourage You to read in advance respective privacy documents of every website You visit.

None of the links to third parties and respective websites on Our Website should be deemed to imply that We endorse or have any affiliation with these third parties.

The Website is not for use of infants and minors (i.e., under 18 years old) and We do not knowingly collect and process infants or minors’ personal data. If We recognize that We have collected personal data from an infant or minor, We shall delete such information as quickly as possible.

We use cookies on the Website, which are small files that a site or its service provider transfers to Your computers/devices through the web browser (if You allow), that enable websites or service providers’ systems to recognize Your browser, capture and remember certain information.

We use the following cookies:

(i) session cookies (functional) – are necessary for ensuring the security and technical functionality. We store and process cookies only during the actual website visiting time,

(ii) persistent cookies (analytics) – remember information about the visitor’s actions, such as language settings, login information or the statistics information about routing of the website visitors,

(iii) third party cookies (advertising) – analytical software such as Google Analytics or Yandex Metrica cookies, which by analysing the data allow to track the visitors between two or more websites and offers more appropriate website connections.

We store any information gathered by cookies only until cookies expiration date and We do not store cookies for any purposes other than those specifically mentioned.

We may pass available technical data about the Website visitors to the agencies and officials in cases and according to the order, established by the applicable laws and regulations.

You can choose to have Your computer/device warn You each time We sent You the cookies, or You can choose to turn off all cookies. You can do this through Your browser settings.

Disabling the cookies will turn off some features that make Your site experience more efficient and some Services will may not function properly.

Please be advised, that cookies cannot contain computer viruses, and with the assistance of cookies, it is not possible to install spyware or malware on Your computer. Our Website is scanned on a regular basis for security holes and known vulnerabilities to make Your visit to Our Website as safe as possible.

We respect the privacy of the Website visitors and do not perform cookies processing without Your permission. Furthermore, We do not try to identify You when simply visiting Our Website.

We will always strive to provide an efficient and professional service, and will aim to provide prompt, courteous, and informative advice in respect of every communication received.

You have the right to complain about the Services. The complaints should be communicated to Us by sending an email to [email protected]. We undertake to deal with each complaint and issue a response within 15 days of the initial complaint. We may reasonable extent this term providing You a notice explaining extension reasons. We record and analyse all complaints to improve the Services.

All intellectual property on the Website and BaltBit Services, including, but not limited to, Website logos, databases, Website design, text and graphics, software, photos, videos, music, sounds and any combinations of the files, and the intellectual property rights of software compilation, associated source code and software (including small applications and scripts) shall be owned by Us.

You may not copy, modify, transmit or use any of the foregoing materials or content for commercial purposes.

We govern all rights contained in the name of BaltBit (including, but not limited to, business goodwill and trademarks, logos).

You shall not illegally use or dispose of the intellectual property rights of BaltBit or any other person during use of the Services offered.

By logging onto the Platform and Account or use of any of BaltBit Services shall not be deemed as We are transferring any of intellectual property to You.

These terms and all non-contractual or other obligations arising out of or in connection with them are governed by the laws of the Republic of Poland.

The parties agree to submit to the exclusive jurisdiction of the courts of the Republic of Poland, provided, however, that BaltBit shall have the right, at its sole option, to initiate proceedings against the Customer in any other court of competent authority.

These terms (including any information incorporated by reference herein) comprise the entire agreement between You and Us for the provision of the BaltBit Services.

All provisions of these Terms, which by their nature extend beyond the expiration or termination of these Terms, will continue to be binding and operate after the termination or expiration of these Terms.

If any provision of these Terms is or becomes invalid, unlawful, or unenforceable to any extent, such term shall, to that extent only, be severed from the remaining terms. The remaining terms shall continue to be valid to the fullest extent permitted by law.

WITHOUT PREJUDICE TO THE OTHER PROVISIONS SET FORTH IN THESE TERMS, It is the sole and exclusive responsibility of the Customer for guarantees and warranties given hereunder, and We shall not be liable for any losses which may arise to You or any third party involved in the transaction if Your warranties and/or guarantees found to be untrue and false.  not take any responsibility for losses caused by security breaches. We do not take any responsibility for losses caused by security breaches. We also retain the right to decline the Customer, reject the Order and freeze virtual currency (-IES) stored on the Wallet, if We detect that You provided Us with the false or misleading information regarding Your eligibility to use the Service.

WE PROVIDE THE SERVICES ON AN ‘AS IS’ AND ‘AS AVAILABLE’ BASIS, AND USE OF THE SERVICES IS AT YOUR OWN RISK. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WE PROVIDE THE SERVICES WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED (INCLUDING, WITHOUT LIMITATION, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT). WITHOUT LIMITING THE FOREGOING, WE DO NOT WARRANT THAT THE SERVICES (AND WEBSITE): (I) WILL OPERATE ERROR-FREE OR THAT DEFECTS OR ERRORS WILL BE CORRECTED, (II) WILL MEET YOUR REQUIREMENTS OR WILL BE AVAILABLE, UNINTERRUPTED OR SECURE AT ANY PARTICULAR TIME OR LOCATION, (III) ARE FREE FROM VIRUSES OR OTHER HARMFUL CONTENT. WE DO NOT ENDORSE, WARRANT, GUARANTEE OR ASSUME RESPONSIBILITY FOR ANY PRODUCT OR SERVICE OFFERED OR ADVERTISED BY A THIRD PARTY THROUGH THE LETKNOW SERVICES OR WEBSITE, AND WE WILL NOT BE A PARTY TO NOR MONITOR ANY INTERACTIONS BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.

IN NO EVENT WILL WE BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OR ANY LOSS, THEFT, DISAPPEARANCE, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST DATA OR OTHER INTANGIBLE LOSSES THAT RESULT FROM THE USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE SERVICES, REGARDLESS OF THE FORM OF ACTION AND WHETHER OR NOT WE KNEW THAT SUCH DAMAGE MAY HAVE BEEN INCURRED. IN NO EVENT WILL WE BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DAMAGE, LOSS OR INJURY RESULTING FROM HACKING, TAMPERING, VIRUS TRANSMISSION OR OTHER UNAUTHORIZED ACCESS OR USE OF THE LETKNOW SERVICES, ACCOUNT, OR ANY INFORMATION CONTAINED THEREIN. THE FOREGOING LIMITATIONS OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.

Accepting these Terms, You agree that the liability of the Platform is limited to the amount of assets actually received from you for the execution of the Order, less any fees and other commissions due and payable by You under the fee schedule. We do not provide additional warranty and assumes no additional liability to You.