Terms of Service

By creating a new User Account or utilizing any Services or visiting any part of this Website, the User agrees to be bound by the terms outlined here, referred to as “Terms,” alongside our Privacy Policy and any promotional, bonus, or special offer terms that may be posted on the Website from time to time.

Before accepting these Terms, please read them thoroughly. You acknowledge that your use of the Services provided by the Website is entirely voluntary and carried out at your sole discretion and risk.

Should you have any questions or concerns regarding your rights and obligations under these Terms, we recommend consulting a legal professional within your jurisdiction. If you do not accept or agree to be bound by these Terms, please refrain from registering for an account or continuing to use the Website. Continued usage of the Website constitutes your full acceptance of these Terms.

Disclaimers

Cryptocurrencies, including Bitcoin, are considered digital assets or virtual currencies. They serve as digital representations of value not issued or regulated by any governmental authority or central bank. Cryptocurrencies can be used by both individuals and legal entities as a medium of exchange and can be transferred, stored, or traded electronically. These digital currencies function within a decentralized consensus network that creates a digital payment system, free from the oversight of any central authority or intermediary. Because of this, cryptocurrency transactions are not subject to specific regulation under Czech or European legal frameworks. General civil law provisions regarding intangible assets apply.

CChange Tech s.r.o. (License number: 22056734, Address: Příčná 1892/4, Nové Město (Praha 1), 110 00 Praha) provides services related to the buying, selling, and delivery of cryptocurrencies. However, these services do not qualify as “payment services” as defined by Act No. 284/2009 Coll., which governs payment transactions.

Unlike electronic money, cryptocurrency is not linked to conventional currencies in a way that ensures a fixed value. Virtual currencies stored in electronic wallets do not represent a receivable from any particular entity. Likewise, the exchange of conventional currency for virtual currency, or vice versa, is not categorized as a foreign exchange operation under Act No. 277/2013 Coll., which pertains to exchange activities.

The User understands that the CChange Tech s.r.o. operations concerning cryptocurrencies are not regulated or supervised by Czech or European Union financial authorities, nor do these operations require any special licensing.

Definitions

Certain terms in this document carry specific definitions, as outlined below:

Act 480/2004: Refers to the law governing Certain Information Society Services, which has been amended over time.

Agreement: Refers to the legally binding contract between the User and the Company regarding the provision of Services. This Agreement is governed by Czech law, and the Company does not charge the User any fees for its conclusion.

User Verification: A method used for verifying a User’s identity by employing a series of supplementary questions. It includes asking the User to provide photos of identification documents like a passport or national ID, along with other details that help verify the User’s identity.

AML Policy: Refers to the internal rules designed to prevent money laundering and the financing of terrorism, as required by applicable laws.

AML Act: Stands for Act No. 253/2008 Coll., which outlines measures for combating money laundering and the financing of terrorism.

Authorization: The process of confirming a User’s order details. By authorizing, the User certifies the accuracy of the order and agrees to its execution.

Agreement Formation

Upon completing the registration process, the User enters into a legally binding Agreement with the CChange Tech s.r.o.

These Terms are a core part of the Agreement and outline in detail the obligations and rights of both the Company and the User. They also govern the specific legal relationship between the User and the Company concerning the Services provided.

By registering and agreeing to these Terms, the User gives their explicit and unconditional consent to abide by all obligations detailed within this document.

CChange Tech s.r.o. reserves the right to make changes to these Terms, especially if there are updates in legislation, changes in the financial market, advances in technology, or shifts in the CChange Tech s.r.o. business policies. Users will be informed of proposed changes at least one month before they come into effect via notifications on their Profile. Users should review the updated Terms during this period. By continuing to use the Website, the User signifies their acceptance of these changes unless they explicitly express disapproval in writing. If a User disagrees with any modifications, they can terminate their Agreement with the Company without incurring any fees before the updated Terms take effect.

If a User disagrees with the proposed changes, they have the right to cancel the Agreement by providing written notice before the amended Terms come into force. Such termination will take effect once the notice is received by the Company.

The Company’s Privacy Policy, AML Policy, and Fees structure are integral parts of this Agreement. The Company has the right to amend these documents following the same procedure used for modifying the Terms.

Any reference to male gender in these Terms also applies to the female gender.

Subject of the Agreement

The Company agrees to provide the User with access to the Website through which Services are made available. The User is entitled to use these Services upon payment of the applicable fees listed in the Fee Schedule.

Registration and Profile Management

To initiate transactions on the Website, the User must first complete the registration process, which will create a Profile. The Profile provides access to information on the User's available funds for purchasing cryptocurrencies, transaction history, and details about the Services rendered. It also serves as a communication platform between the User and the Company.

A User is only allowed to have one Profile, and only the registered User is permitted to use it. Transferring funds between accounts of different Users is not allowed.

Users can register using either an email address or a mobile phone number of their choice.

When registering via a mobile number, the User will receive an Authentication Code via SMS and will need to set a password.

When registering via email, the User will receive an Authentication Code to their email address and will also need to choose a password.

The Company reserves the right to reject a registration application without giving a reason or being liable for any consequences.

After receiving the Authentication Code, Users must complete their Profile by providing all required details. Full access to the Profile will be granted once registration and verification processes are completed.

The Profile is accessible via a username and password, and it is the User’s responsibility to secure these credentials. Any loss of credentials should be reported immediately to the Company.

Due Diligence Obligations

Users are required to provide all necessary information for the due diligence procedures mandated by the relevant laws, particularly the AML Act.

The Company may use third-party services for these checks and reserves the right to change these service providers without notifying the User. Such changes will be reflected in the updated Terms.

Provided Services

The User will have access to two distinct sections in their Profile: an individual section and a merchant section.

As an individual, the User can perform the following actions:

• Accept cryptocurrency;
• Replenish balances with fiat currency;
• Exchange cryptocurrency for fiat currency or vice versa;
• Withdraw cryptocurrency or fiat currency;
• Communicate with technical support.

Users are allowed to submit the following types of Orders:

• Request to purchase Cryptocurrency through the Website, at the applicable Exchange Rate.
• Request to sell Cryptocurrency to the Website, at the applicable Exchange Rate.
• Request to process other transactions available on the Website, such as delivering Cryptocurrency to the User at a specified address.

It should be noted that the receipt of Cryptocurrency from a third party does not require the submission of any additional Orders from the User.

Every Order that is submitted by the User must be verified by the Company. Verification can occur through the use of a PIN code, an SMS sent to the User's registered device, a QR code, or other methods provided by the Website.

If the User owes any debts to the Company, the Company reserves the right to deduct these amounts from any money transferred by the User for the purchase of Cryptocurrency. The Company may also withhold any funds or Cryptocurrency held by the Company on the User’s behalf to cover such liabilities. Any fees related to transactions or other operations will be deducted upon the completion of said operations.

The types and amounts of fees charged by the Company for Services are detailed in the Company’s Fees Document, which is available on the Website. The Company reserves the right to modify and update the Fees, and Users will be notified of these changes. Fees may be paid in Cryptocurrency or fiat currency, as specified in the Fee Schedule.

Handling of Money

To purchase Cryptocurrency, Users can use their credit or debit cards, or transfer fiat currency to the Company's bank account. The applicable Exchange Rate will be based on the current rate at the time the transaction is processed.

The User is responsible for covering any associated costs or fees related to the transfer of funds to the Company’s account. Once the funds have been credited to the Company’s account, they will be reflected in the User’s Profile, and the corresponding amount will be available for cryptocurrency transactions.

If the User wishes to withdraw fiat currency that has not been used for cryptocurrency purchases or funds received from the sale of Cryptocurrency, they must submit a withdrawal request through the appropriate form in their Profile. The User must also provide the necessary details for the bank account where the funds are to be transferred.

For security reasons, the Company reserves the right to put any withdrawal requests on hold for up to 30 days following any substantial changes to the User's Profile (such as password resets, changes in authentication methods, or updates to bank account information).

The Company has the authority to reject or cancel any Order, especially if it was submitted under suspicious circumstances or if doing so is necessary for the protection of the User’s interests.

Funds sent to the Company for the purpose of purchasing Cryptocurrency become the property of the Company upon receipt.

The User can view all past transfers of funds to the Company within their Profile, as well as a record of the available funds for future transactions.

The Company has set quantitative and time-based limits for both the purchase of Cryptocurrency and the withdrawal of funds, as outlined in the Fees.

It is important to note that the Company is not classified as a payment service provider under the applicable legal definitions. The transfer of funds is facilitated by authorized third parties, such as banks or other payment service providers, and the Company is not responsible for the performance of these third parties.

The Company may use the funds transferred by the User without requiring the User’s consent in the following instances:

• To cover fees for Services, as outlined in the Fee Schedule.
• To comply with legal obligations imposed on the Company by applicable laws or regulations, or by judicial or administrative orders.
• To settle mutual obligations and liabilities in the event of the termination of the Agreement.

Cryptocurrency Handling

The Company does not support, nor will it facilitate, any hard or soft forks of the cryptocurrencies available on the Website. All hard forks remain the property of the Company, and no compensation will be provided to the User for them.

The User has access to their Cryptocurrency holdings through their Profile. The Profile enables the User to transfer, receive, and exchange Cryptocurrency (referred to as "Cryptocurrency Transactions").

The Company will inform the User about the status of all completed, pending, or canceled Cryptocurrency Transactions within the User’s Profile. These records will remain available for up to ten years after the User's registration on the Website.

The Company does not have the right to block, write off, or otherwise manage the Cryptocurrency that has been purchased by the User via the Website, unless otherwise specified in this Agreement.

No interest is accrued or paid on Cryptocurrency purchased through the Website.

The Company is not responsible for any fluctuations in exchange rates or any resulting changes in the value of the Cryptocurrency.

In specific cases, such as when suspicious circumstances arise or when it is necessary to protect the User’s interests, the Company has the right to refuse to receive Cryptocurrency or process a Cryptocurrency Transaction.

The Company has set quantitative and time limits for Cryptocurrency Transactions, as specified in the Fees.

Cryptocurrency Exchange

Users can use the Website to exchange traditional currency for Cryptocurrency or vice versa. The exchange will be carried out at the current Exchange Rate as displayed on the Website. The Company acts solely as a technical facilitator of these exchanges between Users, and is not directly involved as a party to the transaction.

Exchange Transactions are carried out based on Orders placed by Users. Orders may be in the form of a Market Buy Order or a Market Sell Order.

A Market Buy Order is an offer made by the User to purchase a specified amount of Cryptocurrency. The transaction will be executed at the Exchange Rate displayed on the Website at the time the order is placed. If multiple Market Sell Orders are available on the Website when the User submits their Market Buy Order, the exchange will be carried out with the first matching Market Sell Order based on time priority.

A Market Sell Order is an offer made by the User to sell a specified amount of Cryptocurrency. This transaction will also be executed at the current Exchange Rate displayed on the Website. If there are multiple Market Buy Orders available at the time the User submits their Market Sell Order, the system will match the User's offer with the earliest Market Buy Order available at that time.

Orders remain active on the system until one of the following conditions is met:

• The User cancels the Order before it is fully executed.
• The system cancels the Order.
• The Order is fully or partially completed.

The Exchange Rate for transactions is determined by the Company using data from other cryptocurrency exchange platforms, supply and demand for the respective Cryptocurrency, and anticipated market developments. The current Exchange Rate is displayed in the User's Profile.

To place an Order, the User must complete the relevant form and have sufficient funds or Cryptocurrency available in their Profile to cover the transaction.

Users may place as many Orders as the Website’s system allows. Once the maximum number of active Orders is reached, the system will no longer accept new Orders until space becomes available.

The User can cancel their Order at any time, provided that it has not yet been matched with a corresponding counter Order.

An Order is automatically matched with a counter Order when another User submits an offer that corresponds to the original User’s request.

If an Order is only partially fulfilled, the remaining balance will be used to create a new Order for the uncompleted portion.

Once the transaction is completed, the Company will automatically transfer the corresponding funds or Cryptocurrency to the parties involved in the exchange.

After the exchange is concluded, the Company will promptly provide the User with a transaction confirmation in their Profile. This confirmation will include all relevant details, such as the agreed terms of the exchange and the identification of the Users involved.

The Company has set quantitative and time-based limits for Cryptocurrency exchanges, as outlined in the Fees.

Information on all Orders, whether submitted, canceled, executed, or pending, will be available for review in the User's Profile.

Intellectual Property Rights

All intellectual property rights associated with the content available on the Website, including but not limited to HTML, text, images, audio, and video clips, are either owned by the Company or licensed from third-party providers. The Company holds the right to all such materials, unless otherwise specified.

The User is granted a limited, non-transferable, revocable license to access and use the Website and its content for personal, non-commercial purposes, provided that the User:

• Acknowledges that the Company is not liable for any damages arising from the use of the content;
• Agrees not to modify, copy, reproduce, or commercially exploit any of the content without prior written consent from the Company;
• Agrees not to use the content in a way that may damage, disable, or impair the Website or interfere with any other party's use of the Services.

The Company reserves the right to terminate or modify this license at any time without prior notice to the User.

Except as expressly permitted under these Terms, no content on the Website should be interpreted as granting any User the right to use the Company’s intellectual property. This includes the Company’s trademarks, service marks, patents, or any other proprietary rights. Users are not permitted to remove proprietary notices from content on the Website.

Representations and Warranties, Legal Requirements, and Restrictions

The User represents that they fully understand the basic principles underlying Cryptocurrency transactions and are aware of its unique features, including its intangible nature, volatility, decentralized governance, and potential risks. The User acknowledges that engaging with Cryptocurrency involves risks that include rapid fluctuations in value, and they accept these risks willingly.

The User affirms that they have the legal capacity to engage in Cryptocurrency transactions and are not subject to any restrictions or limitations. If the User is a legal entity, they confirm that they are duly incorporated and authorized to act on behalf of the entity in compliance with the applicable law. Furthermore, the User acting on behalf of the entity represents that they have the authority to enter into binding agreements with the Company.

The User understands that the Company displays current Exchange Rates and a history of past exchanges but does not provide recommendations on when to exchange or forecasts regarding future rates. The User accepts all risks associated with the Exchange Rate at the time of submitting an Order. The Company does not guarantee that an Order will be successfully executed at any given rate.

The User acknowledges that Cryptocurrency transactions are generally irreversible, and once completed, the assets cannot be refunded without mutual agreement between the parties involved. In cases of Force Majeure, the Company reserves the right not to execute or complete the transaction.

The User agrees to keep their Profile information up-to-date and to immediately notify the Company of any changes.

The User acknowledges that the Website is continuously being developed, and as such, occasional technical issues may arise. This may result in limited or unavailable functionality. The Company will make reasonable efforts to notify the User in such cases, but the User accepts the risk of potential disruptions.

As required by the AML Act, the User agrees to provide the necessary information and documentation for the Company's compliance with anti-money laundering and terrorism financing laws. The User also agrees to cooperate with the Company's efforts to verify this information.

The User guarantees that all information provided to the Company is true and complete. If false or incomplete information is provided, the Company will not be held responsible for any resulting losses or damages. The Company reserves the right to delete a User's account if misleading or incorrect information is submitted.

The User is solely responsible for understanding and fulfilling any tax obligations that arise from their use of the Services. The Company does not provide tax advice, nor does it act as a tax agent on behalf of the User.

The User agrees not to use the Website or Services in any manner that would violate applicable laws, including money laundering, financing of terrorism, or any other illegal activities. The Company bears no responsibility for unauthorized or illegal use of its Services by Users.

Users are prohibited from engaging in off-site exchanges of Cryptocurrency that bypass the processes outlined in these Terms.

The User must not use the Website to promote or advertise products or services unless a specific agreement has been made with the Company.

The User is strictly prohibited from using the Website for any illegal purposes, including money laundering, terrorist financing, or any other activity deemed unlawful by the relevant legal frameworks.

The User agrees not to:

• Copy or disclose any content made available on the Website, unless explicitly allowed by the Website’s functionality;
• Use the Website’s design or content for purposes outside the scope of the Agreement;
• Use personal data from third parties without their explicit consent;
• Modify or tamper with the Website or its functionality in any way that could affect its operability.

Citizens and residents of certain countries, such as Afghanistan, North Korea, Cuba, and others listed in the Terms, are prohibited from registering for the Website or using its Services. Users unsure of their eligibility should contact the Company for clarification.

Exclusion of Liability and Breach of Terms

The Company shall not be liable in contract, tort, negligence, or otherwise for any loss or damage, including but not limited to the loss of data, profits, business opportunities, goodwill, or reputation, arising from the use of the Website or Services, even if such losses are reasonably foreseeable.

By agreeing to these Terms, the User agrees to indemnify and hold harmless the Company, its directors, employees, and service providers against any costs, damages, claims, or liabilities that may arise in connection with the User's use of the Website.

If the User breaches any part of the Agreement, engages in collusion, or violates applicable laws, the Company reserves the right to limit the User's access to certain features, temporarily suspend their Profile, or terminate the Agreement immediately.

In the event of a breach of these Terms, the User agrees to fully compensate the Company for any resulting losses, damages, or legal costs.

The Company will not be held responsible for any losses incurred by the User due to the User’s use of the Website, except in cases of deliberate wrongdoing by the Company.

Assignment of Rights

The Company reserves the right to assign its rights and receivables under this Agreement to a third party. By accepting the Terms, the User consents to such assignments.

Should an assignment occur, the Company will notify the User through the Profile.

Confidentiality

The Company is committed to maintaining the confidentiality of any User information obtained through transactions or service provision. Disclosure of such information will only occur in cases where it is required by law, or where the User consents to such disclosure.

The User grants the Company permission to use the data available in their Profile for the improvement of the Services and for marketing purposes.

Duration and Termination of the Agreement

The Agreement is established for an indefinite period.

Either party may terminate the Agreement at any time. Upon termination, the User's Profile will be deactivated.

The User's termination notice will take effect the day after the notice is received by the Company, unless a later date is specified. The Company will inform the User of any outstanding obligations, and all unsettled transactions will be processed before termination takes effect.

The Company may terminate the Agreement in writing with a notice period ending at the end of the second month following the month in which the termination notice was issued. The Company will settle all outstanding transactions and obligations before the effective date of termination.

Any termination notice must be issued in the language in which the Agreement was originally made or in Czech.

The Agreement may also be terminated by mutual consent, in which case both parties must provide written confirmation.

Termination of the Agreement does not affect the validity of any previously concluded transactions or the rights and duties that arose before termination.

Complaints and Support

Users have the right to submit complaints regarding any aspect of the Website’s operation. Complaints can be directed through the communication channels available on the Website or sent via email to the Company's Technical Support team.

The Company will assess the complaint promptly and will notify the User of the outcome within 30 days of receiving the complaint.

The procedures outlined in this section also apply to any inquiries or questions raised by Users.

Personal Data Protection

The processing of personal data necessary for the execution of the Agreement and its implementation will be conducted in accordance with the Personal Data Protection Act and the provisions of Act 480/2004. The User voluntarily consents to the processing of their personal data that is entered in their Profile for the purpose of fulfilling the Agreement, conducting control, and for marketing activities carried out by the Company in its capacity as the data controller. This consent remains valid throughout the duration of the Agreement and for ten (2) years after its termination, or for as long as required to protect the Company's rights or to meet legal obligations.

The User's consent also includes granting access to and the transfer of their personal data to third parties, particularly to individuals or organizations involved in fulfilling legal or contractual obligations or cooperating with the Company in connection with the Agreement.

By granting consent for personal data processing, the User retains the right to access their data, request amendments, and exercise other rights as stipulated in Section of the Personal Data Protection Act. If the User wishes to withdraw their consent, they may do so by sending a registered letter to the Company’s registered office, with effect from the date of delivery.

Both parties are required to keep all confidential information exchanged between them during the contractual relationship private. Confidential information may only be disclosed with prior written consent from the other party, or if required by applicable laws or legal authorities.

For purposes of this provision, "confidential information" refers to any information relating to the business relationship between the Company and the User, as well as any details shared between the parties and their respective advisors regarding the contractual relationship. Confidential information does not include information that becomes publicly available (unless due to unauthorized disclosure) or that is provided by a third party with the right to disclose such information.

Choice of Law and Dispute Resolution

The Company aims to enter into Agreements with Users from various countries and jurisdictions. Therefore, this Agreement shall be governed by and interpreted in accordance with the laws of the Czech Republic.

Any claims or disputes arising from the Agreement must first be communicated to the other party, providing the basis and essential details of the claim. The parties shall endeavor to resolve all disputes amicably through negotiation.

If any dispute (including counterclaims and set-off claims) related to the creation, validity, interpretation, or performance of this Agreement cannot be resolved through negotiation, it will be adjudicated by the competent courts of the Czech Republic.

Amendments to the Terms and Other Documents

The Company reserves the right to modify, update, or change any of these Terms for various reasons, including but not limited to legal compliance, changes in customer service policies, or business considerations, without prior notice to Users. The most current version of the Terms, along with its effective date, will be available on the Website.

Users are encouraged to regularly review the Terms to stay informed of any amendments. If any change is unacceptable to a User, they may choose to discontinue using the Website and/or close their Profile in accordance with the outlined procedures.

The User’s continued use of any part of the Website following the changes to the Terms will be considered their acceptance of the revised Terms, which may include updates, modifications, or alterations in the Company’s identity.

In addition to these Terms, Users should review any other policies, rules, or guidelines related to the products and services available on the Website, as these documents are incorporated into these Terms by reference.

Final Provisions

The Company will only engage with the User directly (either as an individual or through a duly authorized representative) regarding the provision of Services under these Terms. Any individual representing the User must have a valid power of attorney with an official signature.

Only individuals who meet the identification requirements outlined in the AML Act are permitted to submit Orders or conduct Transactions under this Agreement. The User must ascertain whether they or any related persons are classified as politically exposed persons according to applicable law.

Should any provision of this Agreement be found to be invalid, ineffective, or unenforceable, such determination will not affect the validity or enforceability of the remaining provisions.

Headings in these Terms are provided solely for convenience and will not influence the interpretation or construction of any provision.

If any of these Terms are deemed invalid, unlawful, or unenforceable in any way, that provision will be severed from the remaining Terms, which will continue to be valid to the fullest extent permitted by law. In such cases, the invalid provision will be amended to reflect the intent of the original provision as closely as possible while complying with applicable law.

Any notices or communications under these Terms will be delivered to the User's email address provided in their Profile or made available to the User upon logging into their Profile.

These Terms and any referenced documents constitute the complete and exclusive understanding of the rights and obligations between the User and the Company, superseding any prior agreements or understandings related to the same subject matter.

These Terms shall be legally binding from the date they are published on the Website.

These Terms may be presented in multiple languages. In the case of any discrepancies or inconsistencies, the English version will take precedence.

Last update: September 11, 2024.