Terms of service | MY Crypto Card

TERM OF SERVICE

Introduction

These Terms of Service ("Terms") set out the conditions under which My Crypto Card Pty Ltd ACN 679 646 390 (the "Company") offers the use of its trading platform (the "Platform") to Users (Users are described in Section 7 of these Terms and are referred to in these Terms as "Users", "you", "your").

Please read these Terms carefully. Your use of the Platform indicates your acceptance of and agreement with these Terms.

1. General

1.1 Among other things, My Crypto Card offers a self-custodial printed (empty) blockchain crypto-wallet (hereinafter referred to as The Card).

1.2 The Card is empty with the special purpose of the exchange transaction in crypto-currencies (e.g. Bitcoin, Ethereum and Bitcoin Cash) and can be activated and used exclusively on the platform mycryptocard.io operated by the Company.

1.3 The holder can be a natural person or a legal entity that enters into an agreement with the Company under these Terms of Use. The Terms of Use and other applicable provisions (e.g. the Privacy Policy and AML obligations) refer to all rights and obligations arising from the use of this website and the services concerned. These Terms of service apply as long as the cards in question can be accessed via the platform.

1.4 For activation on the platform, a My Crypto Card physical plastic or digital needs to be activated on mycryptocard.io.

1.5 The card can only be used for full exchange transaction. It is not possible to divide the amount into several partial amounts.

1.6 It is neither possible to pay the total amount in cash nor to exchange the Token for cash.

1.7 The Company reserves the extraordinary right to suspend the activation of cards temporarily or permanently under special circumstances such as technical malfunctions, system maintenance, IT system attacks, fraud or similar.

1.8 The card is transferable as a gift. The Company accepts no liability in the event of loss, theft or damage to the card. Such cards will not be replaced. Any claims can only be made upon presentation of the card and the receipt.

2. These Terms can change

The Company reserves the right, at its sole discretion, to vary these Terms, at any time. The Company will endeavour to notify you of such variations [30] days in advance through via email, and upon such notification it is your responsibility to review the amended Terms and decide whether to continue using the Platform.

You acknowledge that the Company may vary these Terms immediately without notice if it is reasonably necessary to do so for security reasons or to comply with law or regulation or to protect its legitimate business interests.

Your continued use of the Platform, including by giving Instructions or entering Transactions, following the posting of changes (including immediate changes made without notice) will mean that you accept and agree to the changes to these Terms. You agree that all subsequent Instructions given by you and Transactions entered by you will be subject to the Terms then in effect.

As long as you comply with these Terms as modified from time to time, the Company grants you a personal, non-exclusive, non-transferable, non-sublicensable, limited right to enter and use the Platform.

Your acceptance of these Terms, as amended from time to time, gives the Company a mandate to bring together Users to trade on the Platform according to these Terms as well as perform the functions described herein.

3. Risk warning

Holding Tokens carries a high level of risk and may not be suitable for all investors. Before deciding to hold Tokens you should carefully consider your objectives, financial situation, needs and investment experience. The value of Tokens may rise or fall, and will be affected by matters outside of the Company's control. Tokens can also be lost by unauthorised access, system failure or fraud. By holding Tokens, you could lose all of your invested funds.

The User confirms that in using the Platform and holding Tokens, it fully understands the following risks:

Volatility Risk: The value of Tokens may rise or fall. The value of Tokens is affected by factors outside of the control of the Company. In particular:
1. Token prices are not set by the Company and the Company does not guarantee that any price offered by Users of the Platform reflects the prevailing market rate;
2. The value of Tokens may be affected by new Tokens being created or developed or other forms of digital currencies or similar commodities being developed;
3. Token prices offered by Users can deviate significantly from the prevailing market rate ("off-market pricing") due to technology errors, volatility, Token scarcity, or trading behaviour of a User; and
Liquidity Risk: Tokens may not be transferrable for value or accepted for transfer for value or payment of goods and services by any third party; and
System or hardware failure, Unauthorised Access or Fraud Risk: Tokens and/or other data held by the Company on your behalf may be lost if you or the Company or any third party holding the Tokens on behalf of the Company is subject to System or hardware failure, unauthorised access or a fraud event, and in general you bear the risk of that loss; and
Counterparty risk: The Company transfers the Tokens onto your card and once transfers you are the sole owner of these tokens. There is a risk that the Company become insolvent or subject to losses which may jeopardise its ability to deliver to you some or all of the value of your Tokens.

4. Use of the Website and Platform: Jurisdictional Limits

The Platform is available only to Australian residents and is not intended to be offered or made available to any person who resides outside of Australia.

The information in this website and the use of the Platform is not intended for any person who is not an Australian resident and is not made available to any person in any jurisdiction where its distribution or use would be contrary to any law or regulation. Nothing in this website or the Platform should be considered an offer or solicitation to buy or sell any service or product to any person in any jurisdiction where such offer or solicitation would be unlawful.

The Platform is available only to Australian Users and is not intended to be offered or made available to any person who resides outside of Australia.

5. No Australian Financial Services Licence

The Company is not licensed as an Australian Financial Services Licensee and it does not offer general or personal financial product advice. Nothing in this website is intended to be or should be taken as financial, legal or taxation advice. Users should seek their own financial, legal, tax and accounting advice as to the likely outcomes for buying and selling Tokens.

6. Who May Be a User of the Platform

Subject to clause 4, a User must be an Australian resident individual which has met the Company's Card opening procedures, including, if required, any client verification procedures, and which is authorized to use the Platform by the Company.

The Company retains absolute discretion in determining who may be a User of the Platform and may cease to allow a User to transact through the Platform at any time without prior notification. The Company shall have absolute discretion in accepting or rejecting an application to be a User or any Instruction.

Users agree to provide the Company with accurate, current and complete information about themselves as prompted by the sign up process, and to update the Company if such information changes.

7. Security of Users' Card Information and Liability for its Misuse

Users are responsible for maintaining the confidentiality and security of their Card information, including their PIN, and for checking that all activity including Instructions and Transactions which occur on their Card was authorised by them. Users agree to notify the Company immediately by email of any unauthorised use of their Card, or any other breach of security. The Company will not be liable for any loss a User may incur as a result of unauthorized use of that User's Card’s information including PIN.

Users are liable for losses incurred by the Company or any other User of the Platform due to any unauthorized use of the User’s Card or Card information. Users shall not use or access any Card other than their own at any time. Users may not attempt to gain unauthorized access to the Platform, and any attempt to do so or to assist others (Users or otherwise) to do so, or distribution of instructions, software or tools for that purpose, will result in the seizing future interactions with the User. This does not limit the right of the Company to take any other action against the User.

Users may not activate a card on behalf of another.

A User's ability to buy and sell token onto its Card may be regulated by anti-money laundering and counter-terrorism financing laws including the Anti-Money Laundering - Counter Terrorism Financing Act 2006 (Cth) and its rules and regulations. The Company may restrict Instructions or Transactions that may violate those laws or its internal AML/CTF policies. The Company's AML/CTF policy is located on its website. The Company may restrict any Transaction that is flagged as a suspicious activity by the Company's internal processes and/or file suspicious-activity reports on flagged Transactions.

The Company does not hold User’s Deposits or Tokens. Instead almost instant exchange occurs when Instructed by the User.

The Tokens recorded on a User's Card may only be sold to the Company in execution of a Transaction entered into on the Platform via mobile.

8. The Company limits its liability for loss or theft of Tokens

The Company has no liability to a User for any loss or theft of Tokens which arises from any unauthorised use of the User’s Card or Card information.

9. Exchange Transaction Provisions

If you make the exchange transaction, you agree to accept and comply with these Exchange Transaction Provisions and the following Provisions. Please read the entire Exchange Transaction Provisions carefully before using this or other services on this website. By activating the card and carrying out the exchange transaction, the credit holder acknowledges and confirms in particular that:

he/she accepts these Exchange Transaction Provisions including the above Terms of Use and the following Final Provisions; and
he/she has full legal capacity to accept these Exchange Transaction Provisions, the above Terms of Use and the following Final Provisions and that he is able to enter in-to business with the Company.

10. Procedure and conditions of the exchange transaction

10.1 The exchange transaction of FIAT (AUD) to cryptocurrency via mycryptocard.io is carried out in the following manner:

10.1.1 The card holder activates the Card by scanning the QR code on the back to redirect to mycryptocard.io, a one-time activation PIN and a valid mobile phone number.

10.1.2 After successful registration and

10.1.3 exchange threshold check, the validity and correctness of the mobile phone number of the card owner is verified by means of a time-limited SMS mTAN code.

10.1.4 After successful verification, the user can purchase cryptocurrency using FIAT (AUD). The exchange of FIAT in cryptocurrency can be done as soon as

10.1.5 the user has confirmed the acceptance of these Exchange Transaction Provisions, the Terms of Use, the Final Provisions and the Data Protection Regulations.

10.1.6 On the displayed exchange website, the FIAT is displayed in cryptocurrency. By pressing the button ("Buy now") or ("Complete") the FIAT/crypto exchange transaction is bindingly executed within a few seconds and cannot be reversed. A reversal of the exchange transaction is also excluded.

10.1.7 The preliminary exchange reference rate which is displayed to the user on the website may deviate from the effective, bindingly executed reference rate due to market fluctuations and short-term excess supply or demand. My Crypto Card has no influence on this.

10.1.8 If the exchange process cannot be carried out by the system within 10 seconds after pressing the button ("Buy now") or ("Complete"), the exchange transaction is cancelled and the user can initiate a new exchange transaction.

11. Crypto transmission to crypto-wallet

11.1 After the effective exchange transaction has been carried out, the exchanged crypto amount is sent from My Crypto Card via blockchain to the crypto-wallet (physical card or digital) of the card holder. The card also functions as a crypto-wallet with a unique blockchain target address and the corresponding private key accessible to the card holder only by entering the PIN.

11.2 Due to characteristics inherent in the nature of the respective blockchain network, the card holders must also acknowledge and agree that sending crypto currencies to the user's wallet may take between 10 minutes and twenty-four (24) hours, provided that there are no unforeseen and unavoidable incidents on the respective blockchain network and My Crypto Card services.

11.3 It is excluded at all times that the acquired crypto amount is sent to a crypto-wallet address other than that of the card holder or user of the crypto-wallet.

11.4 The card holder shall ensure before carrying out the exchange transaction that he/she is in possession of the crypto-wallet addresses (The Card) and that these are undamaged and valid (QR code readable or plain text readable on cards - wallet well readable). If the exchange transaction is carried out by the user and afterwards the access to the received crypto value is not possible, My Crypto Card assumes no liability. In particular, the user or card holder is responsible for the secure storage of the PIN. My Crypto Card do not know the private keys or PIN and can neither disclose nor restore them. A refund of the voucher amount in FIAT or the exchanged crypto value is excluded.

12. Exchange transaction reference price

12.1 Through the exchange transaction via My Crypto Card Exchange Services, the user buys crypto currencies directly from My Crypto Card or sells directly to this company. My Crypto Card therefore does not act as an intermediary agency or marketplace between buyers and sellers of crypto currencies. The exchange transaction is subject to the My Crypto Card reference price. By the term "reference price" My Crypto Card understands the liquidity adjusted price of a given crypto-quantity in the respective national currency as quoted on the platform. The reference price indicates either the "purchase price", i.e. the price in the local currency at which you buy cryptocurrencies from My Crypto Card, or the "selling price", i.e. the price in the local currency at which you sell cryptocurrency. For all transactions that take place at the "reference price", the user agrees that the acceptance of the reference price as the only conversion factor is the condition for using the My Crypto Card service.

12.2 The card holder acknowledges and agrees that the price of the cryptocurrencies depends on the reference price of the platform. Fluctuating market conditions as well as delays in third-party services (interfaces) can influence the reference price both positively and negatively. My Crypto Card has no influence on this.

13. Fees and Commissions

The User acknowledges that the Company may charge fees in respect of the Card ("Fees") and commissions on Transactions ("Commissions"). Such Fees and Commissions are set out on the Company's website and may be updated from time to time by the Company. Any updated Fees and Commissions apply from the date that the updated Fees and Commissions are set out on the Company's website. The Company will endeavour to notify Users through their User Accounts at least two business days in advance of any changes to Fees or Commissions.

The Company is authorised to deduct the applicable Commission and any other Fees at the time of purchase or sale of cryptocurrency, with such amounts factored into the transaction value at the point of execution.

Please see the Fees page for our current Fees and Commissions.

14. Limitations on the Use of the Platform

The Company in its absolute and sole discretion may:

restrict the number of Cards a User may have on the Platform at any one time;
periodically define the incremental values of Cards on the Platform; and
prohibit new activations that do not adhere to these limitations.

15. The Company's Obligations and Powers

The Company warrants and represents that:

It will use all reasonable care and skill in facilitating buy and sell Instructions of the Users via the Platform to facilitate Transactions.
The trading price for a Transaction is calculated on the basis of actual market price on the Platform combined with the Company's applicable commission (if any). The Company does not set, and takes no responsibility for, the price of Tokens traded on the Platform.
It shall comply with the laws and regulations relating to offering the Platform in Australia.

The Company does not warrant or represent that:

its website or the Platform is free from errors, viruses, worms or other technical anomalies which may cause problems or damage to User's own computer hardware or software; or
its security systems are impregnable, although the Company does take reasonable measures to ensure the Platform and all of the Company's systems are reasonably secured and protected against attack.

The Company in its absolute and sole discretion may engage a Liquidity Provider to facilitate and maintain availability of Tokens and the stability of the Platform from time to time and be a User of the Platform.

In the case of fraud or other suspicious activities, the Company will report all necessary information, including names, addresses and all other requested information, to the relevant authorities dealing with fraud and breaches of the law.

16. User's Obligations and Acknowledgements

The User acknowledges that once an Instruction is placed it is irrevocable by the User, it will proceed to settlement and delivery through the Platform unless the Company.

The User is responsible to store the Card in PIN in a secure space and not share with third party.

The User represents and warrants that:

it will only operate Cards and use the Platform to perform the buy and sell of Tokens in accordance with the conditions set forth in these Terms;
it is duly authorised and has the capacity to provide each Instruction and enter into each Transaction on the Platform;
it is a resident of Australia (except in the case of a Company-approved Liquidity Provider) or Approved Overseas User (temporary overseas due to holiday or work).
it will comply with all applicable laws of Australia from which it seeks to operate its Cards, give Instructions or enter Transactions; and
the User's use of the Platform, provision of Instructions or entering any Transaction does not infringe the rights of any third party or any applicable law;
the User understands that their Card may be frozen at any time at the request of any government authority investigating a fraud or other suspicious activity; and
the User understands that loss of Tokens held on the Card might occur.

The User will not:

use the Platform to perform any illegal activity of any sort, including, but not limited to, money laundering or terrorism financing;
use the Platform to perform payment of any ransomware, including, but not limited to cryptolocker; or
give any Instruction or enter any Transaction, or do or undertake any other activity, whether or not through the Platform, which would or may negatively affect the performance of the Platform or the reputation of the Company.

The User is responsible for any tax liability arising from its holding or selling in Tokens and will indemnify the Company where the Company is obliged to pay tax on behalf of the User in respect of the User's Card or any Token held, or bought or sold by the User.

17. Intellectual Property

All intellectual property rights vested in texts, images or any other content found on or related to the Platform are owned by the Company. Accordingly, Users may not copy, distribute, reproduce, republish, upload, transmit, modify, post, frame-in or otherwise use in any way any such content without the prior express written authorization of the Company.

The Company's property or that of our vendors or licensors is protected by patent, trademark and/or copyright laws of Australia and may not be used without the Company's express written consent.

The Company may take any action available in law or equity to protect its intellectual property and to remedy any breach or potential breach of its rights, including by seeking an injunction to prevent a breach of its rights.

18. Website Commentary

The website may include commentary and information on Tokens, the market for Tokens, uses for Tokens and other information, interactive tools, quotes, reports and data concerning Tokens and other subject matter. Some of this information may be supplied by entities not affiliated with the Company ("Third Party Information"). To the maximum extent possible, the Company will identify and attribute all information sourced from third parties.

The Company does not explicitly or implicitly endorse or approve the Third Party Information. While the Company takes reasonable steps to ensure that the Third Party Information on its website is correct and up to date, the Company does not verify or validate such information and takes no responsibility for its content or any consequence of any person placing reliance on the Third Party Information.

19. Access to the Platform

The Company takes reasonable steps to keep its Platform operational. However, the Company does not warrant, guarantee or represent that:

there will be operational stability, availability or continuation of the Platform or the website;
users of the Platform and/or any Liquidity Provider engaged by the Company will remain stable, reliable, secure, solvent or error-free;
the Platform or the website is safe from unauthorised access, fraud or other suspicious or illegal activity; or
there will be a continuation of the agreement formed under these Terms.

In addition, the Company warns you that the Platform and the website may be inaccessible at times due to:

down time and maintenance;
internet, network or server problems;
equipment failure, including the failure of third party systems; or
a Force Majeure Event.

20. Liability

The User indemnifies the Company and each of its directors, officers, shareholders, advisers, consultants, agents and contractors (each a "Company Indemnitee") against all liabilities, claims, losses and expenses ("Losses") which may be incurred or suffered by the Company Indemnitee directly or indirectly arising out of any failure by the User to maintain sufficient Deposited Currency or Tokens in its Account or otherwise for failing to meet its obligations under these Terms. Such Losses may include legal fees incurred in defending or responding to such Losses and consequential losses. This indemnity will apply regardless of whether an Instruction or Transaction was entered in error, but will not apply to the extent that Losses were incurred or suffered by a Company Indemnitee due to its own fraud or wilful default.

All statutory or implied terms are excluded to the extent permitted by law. Users may have rights against the Company under statutory implied terms which cannot legally be excluded. To the extent permitted by law, the Company’s liability to the User under any statutory implied terms which cannot legally be excluded is limited to supplying relevant services again, or paying the cost of having the relevant services supplied again.

The following exclusions and limitations of liability are subject to any liability the Company has to the User under statutory implied terms or other statutory rights which cannot legally be excluded.

To the full extent permitted by law, the Company is not liable for any damages, losses, costs, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, loss of Tokens or any other direct, indirect or consequential loss to any person including the User arising out of any use of the Platform, the Company acting or failing to act on any Instruction, any Transaction, any failure of the Platform, any error or failure or lack of any security measures by the Company or any third party including in relation to storage or transfer of Tokens by or on behalf of the Company or for any other reason, except to the extent the loss is directly caused by the Company's fraud or wilful default. The Company shall not be liable for any loss as a result of cancelling in whole or in part a User's Instructions.

The Company will not be liable for any malfunction, breakdown, delay or interruption to the Internet connection, or if for any reason the Platform is unavailable at any time or for any period.

Where the Company's website contains links to other sites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them.

Subject to the foregoing, the Company's aggregate liability in respect of claims based on events arising out of or in connection with a User's use of the Platform, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held in the User's Card for the User making a claim, less any amount of commission that may be due and payable to the Company in respect of such card; or (b) 125% of the value of the Transaction(s) that are the subject of the claim, less any amount of Commission that may be due and payable to the Company in respect of such Transaction(s).

21. Termination

A User may cease interactions with the at any time by notification to the Company in the form determined by the Company.

The Company may suspend or terminate a User's Account at any time immediately upon written notice to the User for any reason, including without limitation for: (1) attempts to gain unauthorized access to the Platform or another User's Card or providing assistance to others attempting to do so; (2) overcoming software security features limiting use of or protecting any content; (3) using the Platform to perform illegal activities such as money laundering, terrorism financing, paying of ransomware, online gambling or other criminal activities; (4) violations of these Terms; (5) failure to pay or fraudulent payment for Transactions; (6) unexpected operational difficulties; or (7) requests by law enforcement or other government agencies; (8) Abusive behaviour.

The Company may by notice to Users discontinue or modify the Platform and/or revise or terminate these Terms at any time in accordance with these Terms. Users are deemed to have accepted these revisions or termination to the extent that they continue using the Platform.

Subject to these Terms and applicable laws, within 60 days of closure of a User's Card, whether by the User or the Company, the Company must (insofar as it is possible):

In respect of any Token held in the User's Account, in its absolute discretion either:
- sell the Tokens at the prevailing market price and pay the amount raised to the User's nominated bank account.

The User also agrees that the Company may, in its sole discretion by giving notice, terminate Users' access to the Platform, prohibit access to the Platform and its content, services and tools, delay or remove hosted content, and take technical and legal steps to prevent the User's access to the Platform if the Company, in its exclusive discretion, believes that the User has breached or may breach these Terms or is otherwise acting inconsistently with the intentions of these Terms.

22. Governing Law

These Terms and User's use of the website and the Platform will be governed by the laws of New South Wales, Australia. All Users submit to the non-exclusive jurisdiction of the courts of New South Wales.

23. Severability

If any provision of these Terms is deemed invalid or unenforceable by a court of competent jurisdiction, the provision will be enforceable to the maximum extent permissible and the remaining provisions remain in full force and effect.

24. Definitions

In these Terms:

Abusive behaviour includes the use of abusive or threatening language or behaviour, whether by email or otherwise.
Card means a User's Card issued by a third party through the Company, which allows (among other things) the User to record, trade, and withdraw Tokens.
Card balance means the total Tokens that appears in the User's Card.
Approved Overseas User means a User that is not a resident of Australia who is accepted by the Company as a User.
Beneficial interest means the right to sell the Tokens but is not the same as having legal title in the Tokens.
Beneficial owner means the person who has the beneficial interest.
Business day means a day that is not a Saturday or a Sunday or any other day which is a public holiday or a bank holiday in Australia.
Commission means an amount levied as payment to the Company for arranging and matching a Transaction. A Commission is generally levied as a percentage of the value of a Transaction.
Fee means an amount levied by the Company in relation to a User's Card. It may be levied against a particular User's Card. Fees may also be levied in respect of specific services provided to Users.
Force Majeure Event means:
- any act, event or occurrence (including without limitation any strike, riot or civil commotion, act of terrorism, war, industrial action, acts and regulations of any governmental or supra national bodies or authorities) that, in the Company’s opinion, prevents it from maintaining the Platform;
- any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure;
- any unauthorised access, suspicious activity or other interference in respect of the Platform; or
- the failure of any relevant supplier, financial institution or agent that, in the Company’s opinion, prevents it from maintaining the Platform or otherwise performing its obligations.

Instruction mean offer to buy or offer to sell Tokens through the Platform at the price, if any, nominated in such Instruction plus any applicable Commission.
Platform means the My Crypto Card website and associated software which facilitates Instructions and Transactions.
Sanctions law means the Charter of the United Nations Act 1945, Autonomous Sanctions Act 2011, associated rules and other instruments.
Transaction means the purchase or sale of Tokens arising from an Instruction.