This document must be proactively accepted by You (herein after referred to as “You”, "Your", “Client” or “Customer”) after careful reading and understanding, only if You agree with its entire contents. Please carefully read these terms of service. By accessing, downloading, using, or clicking on "I agree" to accept any Konto.com Exchange services, You agree that You have read, understood, and accepted all of the terms and conditions stipulated in these Terms and Conditions as well as our Privacy Policy at www.konto.com/legal/privacy-policy. By clicking the "create account"/"Create My account" button or by accessing or using the services, you agree to be legally bound by these terms of service.

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Once accepted by You, this document will constitute the contract between You and Your service provider (part of the Cryptoro OU group), setting forth all rights and obligations of the parties, governing the terms under which the Konto.com Exchange service is provided to You and the obligations of the parties in the performance of such services.

I. Konto.com Exchange General Terms and Conditions

1. Introduction

These Terms And Conditions (T&Cs), shall govern Your use of this Website and Konto.com Exchange services provided here, including all pages within this website (collectively referred to herein below as this “Website”). These T&Cs apply in full force and effect to Your use of this Website and services provided here. By using this Website (hereinafter “website” includes Website, Android, IOS, native apps and any other supported operating system), You expressly accept all T&Cs contained herein in full. You must not use this Website, if You have any objection to any of these T&Cs.

This Website and the services provided are not to be used by any person under 18 years of age, and You must not use this Website and the services provided here if You are under 18 years of age.

You shall take time and carefully read these T&Cs (both General Terms and Specific Terms) before using the services provided by Konto.com Service Provider or through Konto.com website, so You are fully aware of Your rights and obligations.

Keep in mind that by using these services (even only by completing the sign-up process), You both actively agree with these T&Cs and enter into contractual relations with Konto.com Exchange provider.

The rights and obligations of Your service provider through the Konto.com Service Provider website and Your rights and obligations are governed by the general provisions of these T&Cs as well as the specific section corresponding to the type of service You are using. Please note the general as well as the specific provisions depending on the type of service.

The meaning of certain terms or notions used in these T&Cs:

• fiat money or legal tender meaning a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.

2. Services provided by Konto.com Service Provider through the Konto.com Exchange website

Konto.com Service Provider provides You with a simple and convenient way to trade fiat money for crypto assets (such as bitcoins) and vice versa, and to trade one type of crypto assets for another type of crypto assets. You may also use Konto.com Service Provider services to store Your crypto assets in Your Konto.com Exchange account or to purchase and sell crypto assets directly from and to us. Additionally, the range of services available to You will depend in part upon the country of which You are a resident and from which You access Konto.com Exchange.

The Konto.com Exchange website provides ‘crypto-asset service’ for its customers meaning any of the services and activities listed below relating to the crypto-asset listed by Konto.com Exchange:

1. the custody of crypto-assets;

2. the exchange of crypto-assets for fiat money and the exchange of fiat money for crypto-assets;

3. transfer of crypto-assets to/from personal wallets;

4. the exchange of crypto-assets for other crypto-assets.

3. Your Konto.com Service Provider

The services offered to You under Konto.com brand and through Konto.com Exchange website are provided by one of the subsidiaries of the Cryptoro OU group as follows:

Your contractual partner (Konto.com Service Provider) is determined according to Your country of residence in accordance with the above and without Your possibility to opt for another supplier within the Cryptoro OU group.

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Every subsidiary of Cryptoro OU group reserves the right to transfer the Agreement with any of its users to another subsidiary of the group without prior notice. By opening a Konto.com Exchange account, the client unreservedly expresses their advance consent to such transfer of the contractual relationship to another subsidiary/branch of the Cryptoro OU group.

4. Who can become a customer of Konto.com Exchange and requirements for Konto.com Exchange services

Only a person over 18 years of age or a legal entity legally established in their country of residence are accepted as Konto.com Exchange customers. If You are registering to use the Services on behalf of a legal entity, You represent and warrant that:

(i) such legal entity is duly organised and validly existing under the applicable laws of the jurisdiction of its organisation; and

(ii) You are duly authorised by the legal entity to act on its behalf.

Only a person residing in the European Economic Area (EEA) or United Kingdom (UK), which is not a high-risk country due to sanctions or for money laundering or terrorist financing, can be a customer of Konto.com Exchange.

Konto.com Exchange does not accept clients who qualify as politically exposed persons (PEP), members of their family or friends, or associates of PEP as defined in the legislation on the prevention of money laundering and combating terrorism financing (AML/CTF).

A demo account with Konto.com Exchange can be opened. The purpose of the demo account is to allow those interested to familiarise themselves with the functionality of Konto.com Exchange. A demo account provides limited access to the website resources (information, news, user interface, public documents of the Website, etc.), but it does not allow You to carry out any transactions with crypto-assets or fiat money.

To become the holder of a full-fledged client account (other than a demo account) on Konto.com Exchange, the Client will have to perform a sign-up procedure prior to disposing of crypto-assets or fiat money through their account, in which they will have to provide real, accurate and complete data in order to properly identify them (Know-Your-Customer (KYC) procedure).

The Client will have to provide, upon request of the Konto.com Service Provider, at the sign-up moment or whenever subsequently requested, new evidence of the conformity and reality of the data provided, supporting documents and documents proving the source of funds, source of wealth, proof of address, proof of bank account ownership or other documents. Konto.com Service Provider has the right to suspend or close Your account if You delay or refuse to provide documents or information as requested by Konto.com Service Provider without any further notification provided to You.

Clients will also be required to complete questionnaires enabling the Konto.com Service Provider to build up a user profile that will serve for the analysis of the risks and financial comfort of the operations in which the Client engages.    

No occasional transactions may be initiated on the Konto.com Exchange platform by persons who have not opened a client account.

The Konto.com Service Provider may at any time decide to terminate the contractual relationship with any of the clients, in which case the Client's account activity will be suspended except for the transfer of his funds (fiat or crypto assets) to another provider or personal ledger. Even this transfer to another provider of the Customer's funds may be temporarily suspended in case of suspicion of committing a crime. Such a decision to terminate is at the discretion of the Konto.com Service Provider and will not need to be justified in any way.

A Customer will be immediately suspended or blocked from the provision of services if it is discovered that they have provided false data to Konto.com Service Provider or carried out any type of financial crime or illegal activity on/through the Konto.com Exchange website.

5. ONBOARDING

5.1. By opening Your Konto.com Account, You аcknowledge and confirm that:

1. You are not a citizen or resident of a sanctioned country according to the up-to-date lists of the United States (US), Office of Foreign Assets Control (OFAC), the United Nations (UN), the European Union (EU), and any EU Member State, the United Kingdom (UK) Department of Treasury, etc.;

2. You are not identified as “Specially Designated Nationals And Blocked Persons List” (SDN list) on the OFAC list of the US Department of the Treasury (https://home.treasury.gov/policy-issues/financial-sanctions/specially-designated-nationals-and-blocked-persons-list-sdn-human-readable-lists) and You are not placed in the US Commerce Department’s Denied Persons List;

3. You are not a citizen or resident of a country included in high-risk jurisdictions or jurisdictions under the Increased Monitoring list released by The Financial Action Task Force (FATF) (please see http://www.fatf-gafi.org/);

4. You are a resident of the EEA or the UK;

5. You are not a Politically Exposed Person (PEP), member of their family or friends, or associate of PEP as defined in the legislation on the prevention of money laundering and combating terrorism financing (AML/CTF);

6. You are at least 18 years old or of legal age to enter into contractual relations with Konto.com (whichever is later);

7. You are the exclusive beneficial and/or legal owner of any Crypto Assets (as a natural person) transferred to/from, topped up or to be topped up in Your Konto.com Account and/or the fiat money transferred to/from Konto.com Exchange used or to be used for the purchase of Crypto Assets;

8. You are the beneficial owner of Your Konto.com Account and do not act on behalf of or represent any other natural person or legal entity;

9. You comply with all Applicable Law requirements relevant to You and to Your use of the Konto.com services, such as tax, exchange control and registration ones;

10. You will not use our Services if any applicable laws in Your country prohibit You from doing so in accordance with these T&Cs;

11. You have read, understood and agreed to our Privacy Policy and Cookies Policy;

12. You are the exclusive beneficial and/or legal owner of the payment methods and withdrawal methods provided;

13. You represent, warrant and undertake on a continuous basis that You shall comply with all applicable anti-bribery and anti-money laundering laws, rules, and regulations of the United States, European Union or any member state and any other similar laws in all applicable jurisdictions. These laws include, without limitation, the currently effective or successor versions of the U.S. Foreign Corrupt Practices Act, the Criminal Justice (Corruption Offences) Act 2018, and the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010;

14. You have appropriate training, sophistication, expertise and knowledge necessary to make informed decisions regarding trading in digital assets and use of the Institutional Services;

15. You should not engage in actions that impose an unreasonable or disproportionately large load on Konto.com Exchange’s infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information; transmit or upload any material to Konto.com Exchange systems that contains viruses, trojan horses, worms, or any other harmful or deleterious programs; attempt to gain unauthorized access to Konto.com Exchange systems, other Konto.com Exchange accounts, computer systems or networks connected to Konto.com Exchange systems, Konto.com Exchange Site, through password mining or any other means; use Konto.com Exchange Account information of another party to access or use the Konto.com Exchange systems, except in the case of specific Clients and/or applications which are specifically authorized by a Client to access such Client’s Konto.com Exchange Account and information; or transfer Client’s account access or rights to Client’s account to a third party, unless by operation of law or with the express permission of Konto.com Exchange.

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5.2. You are not entitled to:

(i) open more than one Konto.com Account;

(ii) open a new Konto.com Account if we have suspended, limited or closed Your previous account.

5.3. When You request Konto.com Service Provider to open Your Konto.com Account, You must provide all information and/or documents requested by Konto.com Service Provider or any third party acting on its behalf, so that Konto.com Service Provider can verify Your identity and validate Your funding sources and transactions. Konto.com Service Provider or any third party acting on its behalf may additionally verify the information and/or documents (provided by You) from secure databases to which You explicitly consent by entering into this Agreement. You hereby authorise Konto.com Service Provider to conduct any electronic identity verification checks on You, directly or through third parties, either at the time of entering into this Agreement or at any time thereafter.

5.4. We may refuse to open Your Konto.com Account and/or grant You access to Konto.com Exchange services. We may also, at our discretion, close Your Konto.com account without explanation. A forced closure of Your account will always take place if You engage in fraudulent activity of any kind or if Your behaviour in relation to Konto.com Service Provider is inappropriate, or if Konto.com Service Provider does not tolerate the risk generated by Your activity on Konto.com Exchange.

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5.5. You hereby represent and warrant that all the information You provide Konto.com Service Provider with, is complete, valid, accurate, and up-to-date at all times. If there are any changes in this information, You have to notify Konto.com Service Provider and send Konto.com Service Provider accurate information without any delay.

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5.6. When and/or if at any point Konto.com Service Provider needs to verify that the information it has about You is complete, accurate and up-to-date, Konto.com Service Provider will contact You and request that You either provide more information or that You go through the verification process all over again. If You do not complete all the necessary steps, or if You fail to provide Konto.com Service Provider with up-to-date information, Konto.com Service Provider will not be able to provide You with the Konto.com Services and will not be responsible for any losses You incur as a result thereof.

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5.7. You hereby undertake to obtain all necessary hardware, as well as to install all necessary software, including security and antivirus, for Your use of the Konto.com Services in accordance with these T&Cs. You are solely responsible for keeping Your device safe and maintaining adequate security and control of Your username, password and shall be solely responsible for any access to and use of the Konto.com Services through Your device, regardless of whether such access may have been made without Your knowledge, authority or consent. We will not be liable to You for any loss or damage resulting from such use. In case Your device has been lost or stolen or has been accessed or used in an unauthorised manner, You shall notify Konto.com Service Provider of this, and if the device has been accessed or used in an unauthorised manner, You, shall, as soon as possible, reset the password.

5.8. Konto.com Service Provider shall not have any liability, obligation, or responsibility whatsoever for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect Client’s computer or other equipment, or any phishing, spoofing or other attacks, unless such damage or interruption directly resulted from the Konto.com Service Provider’s gross negligence, fraud, or willful misconduct. Client agrees to access and use its Konto.com Exchange Account through the Konto.com Exchange website to review any Orders, deposits or withdrawals or required actions to confirm the authenticity of any communication or notice from Konto.com Service Provider.

6. Privacy Notice

Please refer to our Privacy Notice for information about how we collect, use, and share Your information.
We can only provide the Konto.com Exchange Services once we have collected Your Personal Data.
By using the Konto.com Exchange Services, You give Konto.com Service Provider Your consent to gather, process, and store Your Personal Data for the purpose of providing You with the Services, and declare, acknowledge and confirm that You have read our Privacy Policy and Cookies Policy and agree thereto. You can withdraw Your consent by closing Your Konto.com Account. If You do this, we will stop using Your Personal Data for the declared purposes, but we may need to keep Your Personal Data when required by any Applicable Law.
We reserve the right, at any time, to verify Your Personal Data for anti-money laundering and counter-terrorist financing purposes.

7. General Rights & Obligations

7.1. Rights

The Konto.com Service Provider is entitled to review the results of transactions in the event of detecting failures/non-performances of the software which provoked delays in ratings, incorrect listings or any other negative consequences for the service provider. The Konto.com Service provider has the right to cancel Your order or instruction and the implied consequences (whether the result was a profit or a loss for You) immediately after detecting an obvious error, a software error, an inadequate operation of the Konto.com Exchange, or whenever inadequate transaction behaviour or a non-compliant use of the Konto.com exchange by You are detected. The Konto.com Service Provider is not responsible for any loss incurred by You as a result of such cancellation.

The Konto.com Service Provider is entitled to deny the rendering of services to the Client, and deny the Client access to its services, if the Client fails to take responsibility or fails to comply with the T&Cs, as well as immediately after detecting an obvious error, a software error, or whenever an inadequate trading behaviour, as well as in all other circumstances specified in this agreement.

The Konto.com Service Provider is entitled to ask You to provide additional information or details regarding the source of the funds, before operating the amount of available funds (in total or partially), as well as documents proving the origin of the money. In the absence of these information/documents, the service provider is entitled to refuse to conclude the transaction or to continue to provide services to You.

The Konto.com Service Provider has the right not to pay the amounts received by You in the Konto.com Account if the Konto.com Service Provider identifies a situation of breach of contractual provisions by You, has identified a possible software error or obvious error, the platform fails to operate normally, or You have demonstrated an inadequate behaviour or non-compliant use of the platform, as well as in all other circumstances provided by the law.

The Konto.com Service Provider has the right to maintain the user's transactions in unsettled status. Bank transfer deposits/withdrawals of funds are carried out in four banking days and depending on bank processing rules, except for cases where additional documents/information has been requested according to T&Cs, the law or the request of the competent institutions/authorities, in which case the deadline can be automatically extended until the requested documents/information are obtained from the client, but no more than 30 calendar days.

The Konto.com Service Provider has the right to block Your Konto.com Account if a situation of abuse on the platform or obvious errors has been identified.

The Konto.com Service Provider has the right to set minimum withdrawal limits.

The Konto.com Service Provider has the right to add new digital assets on the Konto.com Exchange and to suspend and/or eliminate any crypto assets, instruments, services, products, or sections from the Konto.com Exchange.

The Konto.com Service Provider has the right to deny closure of the account, at the Client’s request, when a breach of contractual provisions or of the legal provisions in force was detected, until such a situation has been clarified.

The Konto.com Service Provider has the right to reject any deposits/withdrawal of funds (fiat and/or crypto) from the Konto.com Exchange Account and to suspend/close, as the case may be, the Customer’s account if the information and/or documents requested to prevent money laundering and terrorism financing are not conveyed within 5 days from the time they were requested. In any orders placed, The Konto.com Service Provider has the right to cancel them.

The Konto.com Service Provider has the right to request annually, or whenever it deems necessary, any information and/or documents confirming the Customer’s identity, and if in 5 working days, the Konto.com Service Provider does not receive the respective documents, the Konto.com Service Provider has the right to suspend the account indefinitely, until the data update or until the Customer supplies the required documents. Konto.com Service Provider has the right conduct due diligence to verify accounts and transactions as part of document validation procedure.

7.2. Obligations

This section applies to:

(i) all trades completed via the Konto.com Service Provider;

(ii) Your purchase, swap, and/or sale of crypto assets via the Konto.com Services;

(iii) any transaction in which You load funds (crypto assets or fiat money) into Your Konto.com Account; or

(iv) transfer funds from Your Konto.com Account into an External Account.

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Conditions and Restrictions. We may, at any time and in our sole discretion, refuse any trade submitted via the Konto.com Services, impose limits on the trade amount permitted via the Konto.com Services or impose any other conditions or restrictions upon Your use of the Konto.com Services for funding Your Konto.com Account or for trading without prior notice. For example, we may limit the number of open orders that You may establish via the Konto.com Services or we may restrict trades from certain locations.

Accuracy of Information. You must provide any information required when creating a Konto.com Account or when prompted by any screen displayed within the Konto.com Services. You represent and warrant that any information You provide via the Konto.com Services is accurate and complete.

Cancellations. You may cancel an order initiated through the Konto.com Services only if such cancellation occurs before the Konto.com Service Provider executes the transaction. Once Your order has been executed, You may not change, withdraw or cancel Your authorization for Your Konto.com Service Provider to complete such a transaction. If an order has been partially executed, You may cancel the remainder unexecuted, unless the order relates to a transaction at the exchange rate. We reserve the right to refuse any cancellation request associated with an order at the exchange rate once You have submitted such an order. Unlike orders with price negotiation, all trades at the exchange price are irreversible once initiated. Although we may, in our sole discretion, cancel a trade in certain extraordinary circumstances, a client does not have the right to cancel a trade.

Insufficient Funds. Suppose You have insufficient funds in Your Konto.com Account to complete an order via the Konto.com Services. In that case, we may cancel the entire order or may fulfil a partial order using the amount of funds currently available in Your Konto.com Account, less any fees owed to Konto.com Exchange in connection with our execution of the trade.

Taxes. It is Your responsibility to determine what, if any, taxes apply to the trades You complete via the Konto.com Services, and it is Your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that Konto.com Services is not responsible for determining whether taxes apply to Your trades or for collecting, reporting, withholding or remitting any taxes arising from any trades.

The use of Konto.com Exchange services. You are responsible for determining whether the use of any of the Konto.com Exchange services is legal in Your jurisdiction, and You shall not use these Konto.com Exchange services should such use be illegal in Your jurisdiction. If You are uncertain, please seek independent legal advice.

8. Konto.com Account Funds

Funding Your Konto.com Account.

In order to complete an order or trade via the Konto.com Services, You must first load funds to Your Konto.com Account using one of the approved External Accounts identified via the Services. Konto.com Exchange is entitled to check whether You control the external account You use to upload funds to Your Konto.com Account, in which case You are obliged to provide the requested documents and information. You may be charged fees by the External Account You use to fund Your Konto.com Account. Your Konto.com Exchange provider is not responsible for any External Account fees or for the management and security of any External Account. You are solely responsible for Your use of any External Account. The timing associated with a load transaction will depend in part upon the performance of third parties responsible for maintaining the applicable External Account, and Your Konto.com Service Provider makes no guarantee regarding the amount of time it may take to load funds into Your Konto.com Account.

The relationship between You and Konto.com Service Provider is based on a supply agreement. Konto.com Service Provider provides You with crypto assets against payment in fiat money. Loading Your account means, in effect, an advance payment into Konto.com Service Provider's bank account of the price of the crypto assets that will be provided to You based on firm orders that You subsequently place. Fiat advances will be evidenced in Your account by a numerical representation of the money paid to Konto.com Account, so that You will always be informed about the balance of unused advances for the supply of crypto-assets. The amount shown in Your account does not mean that You are depositing fiat money into a bank account or similar account opened by Konto.com Service Provider for the safekeeping of Your money, nor that Konto.com Service Provider would temporarily hold your money, but means that You are making an advance payment for goods under a commercial contract. In Your account, You will find information about the advances You have paid to Konto.com Service Provider under the supply contract and which You have not yet used for the purchase of cryptocurrencies or the payment of fees. Payment of a deposit to Konto.com Service Provider means the advance payment You make under the supply contract, and from these advances, the crypto assets You order for purchase under separate orders will be settled, separate orders that You will launch on the Konto.com Exchange platform when You wish to do so. At any time You may request Konto.com Service Provider to withdraw the balance of the advances You have not used to purchase crypto assets.  However, Your balance cannot be used directly by You for payment to third parties (as You could do in the case of accounts opened with banks or Electronic Money Institutions (EMIs)) but can only be refunded to You at the original payment method.

All sales and purchases of cryptocurrencies or any other Digital assets done with any payment method are final. Konto.com Service Provider does not accept any returns or provide refunds for Your purchases of cryptocurrencies or any other Digital assets.

Wallet load card payments will be completed within 24 hours (from the moment when the payment was considered successful by the payment services provider to the moment Your wallet displays the transfer amount), this being strictly related to the load of the account (Add Funds section), the above mentioned period for any conversion or subsequent purchase will be unrelated to the original card transaction. This does not apply to direct purchase of cryptocurrency.

You declare and warrant that the funds, which You have topped up or will top up in Your Konto.com Account, are not derived from money laundering, terrorist financing, fraud, or any other illegal or criminal activity under any Applicable Law in the respective jurisdiction. Moreover, You declared that You are the beneficial owner of the card, bank account, or wallet address.

Funding with fiat.

In case You are a client of Rondo Services Sp. Z O.O., and You choose to fund with fiat (either Your Konto.com Account or to buy digital assets) You agree that Your transfers are processed by third parties in relation to Rondo Services Sp. Z O.O. (registration number: REGON 521837068, VAT code NIP: 7011084926) having its registered office at Ul. Hoza 86 / 210, 00-682 Warszawa, Poland and that Rondo Services Sp. Z O.O. shall work in collaboration with regulated card acquiring partners to offer such services.

Currency in which advance payments are made to Konto.com Service Provider - Konto.com Exchange.

You can pay advances in EUR, USD or RON to Konto.com Exchange from Your personal external account with a financial institution.

When the transfer from Your external account is confirmed (the money credits Konto.com Service Provider), an equal digital number of EUR, USD or RON will appear in Your Konto.com Exchange account, depending on the currency You deposit and the fees applied by Your provider. Your balance can be withdrawn by You. Withdrawal by You of part or all of the available amounts/Your balance is a payment made by Konto.com Service Provider to You, based on Your express order and is subject to fees as they are announced. Such payment is accepted only to the extent of the available/unused balance of the prepaid amounts.

Advances paid by You to Konto.com Service Provider are represented in Your account for accounting purposes in EUR, USD, and RON and may be used by You only for the purchase of cryptocurrencies at the rate displayed by Konto.com Exchange.

About the funds held in Your Konto.com account - Please note that deposits transferred to Your Konto.com Account are exclusively for the purchase of crypto assets or withdrawal to Your approved external account, and are shown as EUR, USD or RON as appropriate (depending on the currency transferred). Proceeds from the sale of cryptocurrencies will be credited to Your account as EUR, USD or RON, less any transaction or other fees. In addition, please note that Konto.com Exchange does not pay interest on balances of crypto-assets (including EUR, USD or RON) held in Your account (if not otherwise stipulated in these T&Cs).

About your Konto.com account - Please note that amounts paid in advance to Konto.com Service Provider and represented as such in Your Konto.com Exchange Account are intended solely for the purchase of crypto assets or withdrawal to Your approved external account and are shown as EUR, USD or RON, as appropriate (depending on the currency transferred).

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Through Konto.com Exchange, You can buy crypto assets from the supported cryptocurrencies. In this case, the amounts due to the Client for cryptocurrencies sold to Konto.com Service Provider will be amounts owed by Konto.com Service Provider to the Client, increasing the Client's balance by Konto.com Service Provider and may be used by the Client for subsequent purchase by the Client of other cryptocurrencies or for withdrawals. Proceeds from the sale of cryptocurrencies will also be represented in Your account as EUR, USD or RON, less any transaction or other fees. In addition, please note that Konto.com Exchange does not pay interest on cryptocurrency balances (including EUR, USD or RON) held in Your account (if not otherwise stipulated in these T&Cs).

9. Withdrawals (transfer of funds to an external account)

Provided that the balance of funds in Your Konto.com Account is greater than any minimum balance required to satisfy all orders placed by You at that time, You may transfer any amount of funds, up to the total amount of funds in Your Konto.com Account in excess of the minimum balance required, from Your Konto.com Exchange Account to an external account. You expressly accept that no withdrawal will be possible if the amount is less than EUR30.

You can withdraw money from your Konto.com Exchange Account at any time up to the limit of the EUR, USD, and RON units You hold.

The time in which Your external bank account will be credited with the withdrawn amounts depends only on the time required for the payment systems used.
It is possible to transfer crypto assets from Your Konto.com Exchange Account to an External Account owned by You.

The minimum accepted fiat deposit is EUR20.
The accepted daily withdrawal limit for fiat is between EUR30 to EUR3,000.

Load/Transfer Authorization. When You request that we load funds into Your Konto.com Account from Your External Account or request that we transfer funds to Your External Account from Your Konto.com Account, You authorise Konto.com Service Provider to execute such transaction via the Konto.com Services.

Rejected Transactions. In some cases, the External Account may reject Your funds or may otherwise be unavailable to receive Your funds. You agree that You will not hold Konto.com Service Provider liable for any damages resulting from such rejected transactions.

Konto.com Service Provider has the right, at any time and in our sole discretion, to halt withdrawals upon certain events like market volatility, network congestion, the collapse of a digital token etc.

Additional benefits in crypto assets. You remain the lawful and beneficial owner of any Additional benefits in crypto assets (e.g. staking) in Your Konto.com Account and the owner of additional assets resulting from any applicable option offered by Konto.com Exchange related to holding crypto assets in the Konto.com Account for a fixed term provided. However, Konto.com Service Provider has no obligation to offer such an option or to support any particular option. Options remain in all instances subject to the T&Cs.

10. Limitation of liability

In order to ensure Your protection, please be informed about the characteristics, functions and risks of Virtual Currencies You intend to purchase.

This platform (Website and app), the services, materials, and any product, service, or other item provided by or on behalf of Konto.com Exchange is provided “as is” and “as available”, with all faults, and Konto.com Service Provider makes no express or implied representations or warranties, of any kind related to this platform or the materials contained on this Website or App. Additionally, nothing contained on this platform shall be construed as providing consultation or advice to You. You will make Your own independent decision on how to use any information contained in this disclosure, based on Your own judgement and advice from advisers as You deem necessary.

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Virtual Currency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status. Virtual Currencies are sometimes exchanged for other currencies around the world, but they are not currently backed nor supported by any government or central bank. Their value is completely derived by market forces of supply and demand, and they are more volatile than traditional fiat currencies.

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You should be aware that Your decisions regarding crypto assets and buying or selling crypto assets can bring You both benefits and losses due to the market's volatility, and all the consequences of these transactions are reflected solely on You. You acknowledge and agree that You shall access and use the Konto.com Service Provider's services at Your own risk.

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Your Konto.com Service Provider cannot be held liable for these consequences under any circumstances. You are also solely responsible for the accuracy of the data submitted and the correct content of the order or transaction initiated by You.

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Please do not use the Konto.com Service Provider's services if You do not understand these risks and only enter into transactions when You understand the trading option You are using, the characteristics of the Virtual Currency You intend to trade, and the potential financial risk involved in trading them. You should carefully consider whether such trading is suitable for You in light of Your circumstances and financial resources.

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The nature of Crypto Assets may lead to an increased risk of fraud or cyberattacks, and any losses due to fraudulent or accidental transactions will likely not be recoverable.

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In no event shall Cryptoro OU, its subsidiaries and its branches or the affiliates of the Cryptoro OU group, your Konto.com Service Provider, nor any of its officers, directors, and employees be liable to You for anything arising out of or in connection with Your use of this Website and the services provided here and shall not be liable for any indirect, consequential or special damages arising out of or in any way connected with Your use of this platform (website and app), and/or Your use/transfer of crypto-assets.

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Cryptoro OU, its subsidiaries, and its branches or the affiliates of the Cryptoro OU group, Your Konto.com Service Provider does not offer warranties about profits and herewith warns You of the associated risks.

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11. Indemnification

You hereby indemnify to the fullest extent the Konto.com Service Provider from and against any and all liabilities, costs, claims, causes of action, damages and expenses (including reasonable attorneys' fees) arising out of or relating in any way to Your breach of any of the provisions of these T&Cs.

12. Consent to communication

You expressly consent to the use by the Konto.com Service Provider of Your mobile phone number and/or email address for the purpose of providing You with any information and sending You messages and notices in relation to our contractual relationships and Konto.com Service Provider.

For compliance and monitoring purposes, Client authorises Konto.com Service Provider at its sole discretion to record conversations between the Konto.com Service Provider and Client or its Authorised Representatives relating to the Konto.com Exchange Account.

13. Partial invalidity

If any provision of these T&Cs is found to be unenforceable or invalid under any applicable law, such enforceability or invalidity shall not render these T&Cs unenforceable or invalid as a whole, and such provisions shall be deleted without affecting the remaining provisions herein.

14. Variation of Terms

Konto.com Service Provider is authorised to revise these T&Cs at any time as it deems necessary. You are required to regularly review and revise the T&Cs on a regular basis to ensure that You are aware, up to date, of all T&Cs governing Your use of this website and the services provided through it. Your continued use of the website and services after a review of the T&Cs means You accept them and agree to receive the services on the basis of the updated T&Cs.

15. Assignment

Konto.com Service Provider shall be permitted to assign, transfer, and subcontract its rights and/or obligations under these T&Cs without any notification or consent required. However, You shall not be permitted to assign, transfer, or subcontract any of your rights and/or obligations under these T&Cs.

16. Entire Agreement

These T&Cs, including Specific T&Cs and any limitations of liability contained on this website, constitute the entire agreement between Konto.com Service Provider and You in connection with Your use of this website and the services provided through it, and supersede all prior agreements and understandings with respect thereto. By proactively accepting these T&Cs You represent that You have read the T&Cs in their entirety, that You understand the meaning of the T&Cs, and that You have expressly accepted all terms, including non-unusual terms.

17. Announcements. Electronic communications

Any notice required or given under these T&Cs by Konto.com Service Provider to the Customer shall be deemed validly received when addressed to the last email address, postal address or telephone number used by the Customer. In addition, we may provide notices by posting on the Konto.com Exchange Platform.

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Any notice requested or made under these T&Cs by the Client to Konto.com Service Provider shall be made only by email in English at support@konto.com.

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Your feedback, questions or complaints may be submitted to Konto.com Service Provider by e-mail in English at support@konto.com, or through other communication channels indicated by Konto.com Service Provider on the Konto.com Exchange Platform. We will do our best to respond to You as soon as possible. However, for more complicated issues, it may take up to 20 (twenty) days for Konto.com Service Provider to respond to You. We will not be liable for any loss or damage incurred during this period.

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You are fully responsible for the security and authenticity of all instructions sent via the Konto.com Exchange platform and You will be bound by all such instructions. We will assume that all instructions received from Your Konto.com Exchange account originate from You and will not be obliged to verify this.

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You accept the risk that Your instructions and information may not be protected from unauthorised access when transmitted via the Konto.com Exchange Platform, being transmitted over the internet.

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Any instructions sent to the Konto.com Service Provider will only be deemed to have been received by the Konto.com Service Provider when we have successfully retrieved them from the relevant system and duly informed You of their receipt.

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You agree that, to the extent there are terms in Your local jurisdiction governing the time and place of sending and receiving electronic communications, these terms will not apply to Your use of the Konto.com Exchange Platform.

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You acknowledge and agree that, in the event of any dispute arising in connection with Your use of the Konto.com Exchange Platform, our records relating to all matters relating to Your use of the Konto.com Exchange Platform and the Konto.com Service Provider's Services as of a particular date shall be binding upon You for all claims and purposes without further proof of authenticity or accuracy before a court of law or similar institution under any applicable low.

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Before initiating any dispute, the complaining party is obligated to submit a formal complaint to the other party, and the parties will attempt to resolve the dispute through negotiation and mutual concessions. The deadline for responding to a formal complaint is 30 days. If, although a formal complaint has been lodged, the other party does not respond within 30 days or, although it has responded within the time limit, the parties do not reach an amicable settlement, the dissatisfied party may apply to the body competent to settle the dispute.

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A question, remark or wish of the customer will not be treated as a complaint and should be forwarded to the customer support service for resolution.

You consent to first contact our support team to try to resolve any issues You may be having with Konto.com Service Provider. You and we agree to use the complaints procedure if our support team is unable to fix the issue. You consent to using this procedure before pursuing legal action.

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We reserve the right to request that Your action or application be dismissed by the appropriate court or authority if You do not follow the instructions in this Section before filing a lawsuit, unless and until You do the following: If You have a complaint that Konto.com Service Provider Support has not been able to handle, please send us an email at legal@konto.com with the details of Your complaint, Your preferred method of resolution, and any additional information You feel is relevant.

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Class action waiver

Whether the claims are based on contract, tort, statute, fraud, misrepresentation, or any other legal theory and whether they arise during or after the termination of these T&Cs, You and Konto.com Service Provider agree that they must be brought against the other party on an individual basis only and not as a plaintiff or class member in a fictitious class or representative action. To the extent permitted by applicable law, You and Konto.com Service Provider further agree to renounce any right to bring, hear, or arbitrate such claims as a class, collective, representative, or private attorney general action. It is not authorised to combine or consolidate multiple arbitrations into one arbitration without the consent of all parties, including Konto.com Service Provider.

18. Termination of the contract

This Agreement will be terminated immediately by closing Your Konto.com Exchange Account, and discontinuing Your use of Konto.com Service Provider services.

You can request to close Your account at any time by contacting us at support@konto.com.

Upon termination of these T&Cs or Your account, Your right to use Konto.com Exchange is terminated and You must immediately cease using Konto.com Exchange.

The Agreement may be terminated by written notice from Konto.com Service Provider if Konto.com Service Provider discontinues offering the Konto.com Services for any reason.

19. Governing Law & Jurisdiction

These T&Cs shall be governed by and construed in accordance with the laws of the legislation of incorporation of the company You are a customer of (please check the table at cap. I point 3), and any disputes shall be resolved according to the procedure of the country of incorporation of the company You are a customer of (please check the table at cap. I point 3).

Before initiating any dispute, the complaining party is obligated to submit a formal complaint to the other party, and the parties will attempt to resolve the dispute through negotiation and mutual concessions. The deadline for responding to a formal complaint is 30 days. If, although a formal complaint has been lodged, the other party does not respond within 30 days or, although it has responded within the time limit, the parties do not reach an amicable settlement, the dissatisfied party may apply to the body competent to settle the dispute.

A question, remark or wish of the customer will not be treated as a complaint and should be forwarded to the customer support service for resolution.

20. Miscellaneous

Your use of the Konto.com Service Provider's Services may be subject to certain fees, as indicated on the Konto.com Exchange Platform, which may be debited from Your Konto.com Exchange account, if applicable. These fees may be changed at any time at Konto.com Service Provider's sole and absolute discretion, without an individual notification to You.

Konto.com Service Provider's failure to exercise or enforce any right or provision of these T&Cs shall not constitute a present or future waiver of such right or provision.

The provision of Konto.com Exchange service does not make Konto.com Service Provider Your investment manager or adviser and no fiduciary relationship exists between us. We have no fiduciary or other obligations with respect to Your Konto.com Exchange account other than as expressly set forth herein.

This Agreement is made and entered into in the English language. If it or any part of it is translated into another language for any reason, the English language version shall prevail.

II. Konto.com Exchange Specific Terms and Conditions

II.1. THE CUSTODY OF CRYPTO-ASSETS

1. Deposits of crypto assets into Your Konto.com Exchange account. You have the possibility to transfer crypto assets You hold in Your Konto.com Exchange wallet to other external wallets if You are able to prove with certainty, at any time, at Konto.com Service Provider's request, that these wallets belong to You.

2. Your Konto.com Exchange wallet/account will hold EUR, USD and RON representing the amounts advanced to Konto.com Service Provider as well as the crypto assets You purchased on Konto.com Exchange or transferred to Konto.com Service Provider. To see the crypto-assets that can be purchased on Konto.com Exchange Platform, please have a look at the crypto assets mentioned in the webpage.

3. Konto.com Exchange WALLET SERVICES include:

(a) the Crypto-asset wallet in which all Konto.com Exchange crypto assets approved and accepted can be stored by You;
(b) access to the Konto.com Exchange service;
(c) any incentive program offered by Konto.com Service Provider that may be launched through the Konto.com Exchange Platform, such as the Konto.com Loyalty Program, the Konto.com Referral Program or other programs;

Access to Your Konto.com account will allow You to:

(i) request a Konto.com Wallet Service;
(ii) view Your balance and Transaction History;
(iii) deposit and withdraw fiat money;
(iv) perform other actions related to the above.

4. Only those crypto-assets traded within the Konto.com Exchange will be able to be transferred to Your account as they may vary from time to time according to the list available on the website. In the event that Konto.com Service Provider removes a previously accepted crypto asset from the list, You will be notified to perform a transfer operation to an external wallet of Yours or to perform a swap to another accepted crypto asset within a maximum of 10 days.

5. You have the possibility to have Your crypto-assets transferred to an External Wallet held by You at another operator. You should bear in mind that there is a possibility that, as a result of Konto.com Service Provider's activity of placing crypto-assets, there are crypto-assets on the site that You have purchased that are not circulating for technical reasons and therefore You are not guaranteed the possibility to move the crypto-assets as such to an External Account but only as fiat money value. In this case, on the date of closure of Your Account, Konto.com Service Provider may accept to purchase all Your crypto-assets at a negotiated rate with You.

6. You can benefit from various loyalty and reward programs by Konto.com Service Provider for Your use of Konto.com Exchange Service. The offering of loyalty and reward programs is at Konto.com Service Provider's sole discretion, and You may not claim rewards unless You have expressly accepted a Konto.com Service Provider offer to do so. The T&Cs of such loyalty programs launched from time to time by Konto.com Service Provider will be published on the website and You will be notified at the initiation of each new campaign and You will have the option to accept or decline such programs.
Such a loyalty and reward program could be, for example, the free transfer in favour of the client of crypto-assets as a reward for clients who maintain in their portfolio, untraded, for a certain period of time, a certain amount of crypto-assets of a certain type.

II.2. THE EXCHANGE OF CRYPTO-ASSETS FOR FIAT MONEY OR OTHER CRYPTO-ASSETS AND THE EXCHANGE OF FIAT MONEY FOR CRYPTO-ASSETS

1. This Specific T&Cs applies when You use the Services to trade Crypto Assets for fiat money or vice versa, or to trade Crypto Assets for another form of Crypto Assets.

2. You can pay advances in EUR, USD or RON to Konto.com Service Provider from Your personal external account with a financial institution.

You can transfer from your personal wallet/ledger or from another external account where You own crypto-assets.

When the transfer from Your external account is confirmed (the money credits Konto.com Service Provider's bank account), an equal amount of EUR, USD or RON will appear in Your Konto.com Exchange Account, depending on the currency You deposit. Your balance can be withdrawn by You, in which case a 1/1 conversion to the corresponding fiat currency will take place at any time, only withdrawal fees being applied. Withdrawal by You of part or all of the unused amounts is a payment made by Konto.com Service Provider to You based on Your express order. Such payment is accepted only to the extent of the unused balance of the prepaid amounts.

3. EUR, USD, RON can be withdrawn at any time by You minus the withdrawal fees.
However, You expressly accept that no withdrawal will be possible if its value is less than EUR130, USD30 USD or RON100.
The time in which Your external bank account will be credited with the withdrawn amounts depends only on the time required for the payment systems used.

4. Independent relationship. You acknowledge and agree that:

(i) Konto.com Service Provider is not acting as Your broker, intermediary, agent, or advisor or in any fiduciary capacity, and
(ii) no communication or information provided to You by Konto.com Service Provider shall be considered or construed as advice.

5. Exchange rates. If You select a transaction at the displayed exchange rate (Konto.com Exchange Rate), the Konto.com Service Provider will attempt, in a commercially reasonable manner, to execute the transaction at or near the exchange rate displayed at the time Your order is placed. You understand and agree that the Konto.com Exchange rate is a rate offered at the discretion of Konto.com Service Provider, an expression of Konto.com Service Provider's commercial policy, based on an algorithm that is in connection with, but not necessarily equal to or similar to, the prevailing exchange rates offered by other providers of similar services (other cryptocurrency exchanges), and that there may even be significant differences therefrom. You understand and agree that the exchange rate offered by the Konto.com Service Provider is a real-time rate, so from the time of placing Your order until the order is received by the Konto.com Service Provider, there may be a variation in the exchange rate and the order will be executed at the rate at the time of receipt. The Konto.com Service Provider constantly strives to keep the time from order placement to order receipt as short as possible so that the fluctuation in the exchange rate at order execution is as small as possible. Please note that there will always be a price difference between selling a crypto-asset to Konto.com Service Provider on the Konto.com Exchange Platform and buying the same crypto-asset from Konto.com Service Provider on the Konto.com Exchange Platform.

6. In the event of a market disruption or force majeure event, the Konto.com Service Provider may take one or more of the following actions:

(a) suspend access to the Konto.com Services; or
(b) cancel and not execute Your order. Following such an event, when trading resumes, You acknowledge that Konto.com Exchange Rates or prevailing market rates may be significantly different from the rates available prior to such event.

7. Negotiated Exchange Quotes. You may submit to Konto.com Service Provider requests to sell or buy Crypto Assets at certain prices, other than the exchange rate displayed by the Konto.com Exchange Platform at the time of Your order submission, in the form of orders conditional upon their acceptance by Konto.com Service Provider. Such an order will remain open until cancelled by You or accepted by Konto.com Service Provider. You will be notified when the order is executed. These orders are subject to the fees charged by the Konto.com Service Provider as published on the Konto.com Exchange website at the time of Your placing the order (please refer to this list before submitting any order). You will be able to open such orders only within the limits of the crypto-assets or fiat money limits of or fiat advances on Your account. The cryptocurrencies or the money related to such orders will be blocked in Your account until the order is executed or cancelled by You.

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