General Terms and Conditions of Coinfinity GmbH for the purchase and sale of cryptocurrencies
As of January 31, 2022
§1 Scope
(1) The following General Terms and Conditions (hereinafter referred to as "GTC") apply to all contracts concluded via the website https://coinfinity.co with Coinfinity GmbH, with its registered office in Graz and its business address at Griesgasse 10, 8020 Graz, Austria (hereinafter referred to as "Coinfinity"). They set out the conditions under which Coinfinity is willing to sell units of cryptocurrencies (hereinafter "cryptocurrencies" for short) to customers or to purchase them from customers.
(2) Consumer transactions are subject to the provisions of consumer protection law, in particular the provisions of the Austrian Distance Selling and Transactions Act (hereinafter "FAGG" for short) and, subsidiarily, the provisions of the Austrian Consumer Protection Act. Consumers are natural (possibly also legal) persons and partnerships with legal capacity for whom the conclusion of the contract with Coinfinity is not part of the operation of a or their business. The purpose of the order does not serve a commercial, self-employed or freelance activity. Entrepreneurs, on the other hand, are natural or legal persons as well as partnerships with legal capacity for whom the respective transaction is business-related. The distinction between consumers and entrepreneurs is based on the Consumer Protection Act and the Business Code, respectively. An enterprise is any permanent organization of independent economic activity, even if it is not profit-oriented. Form entrepreneurs and legal entities under public law - with regard to the regulations applicable to the specific business transaction - are always considered entrepreneurs.
(3) The customer takes before the conclusion of the contract to these GTC and these are expressly determined by both parties to be the content of the contract. The GTC can be saved or printed out by the customer at any time. Furthermore, they will be sent to the Customer by e-mail after the conclusion of the contract as part of the confirmation of the contract concluded with Coinfinity.
(4) Essential conditions for the conclusion of the contract : Coinfinity and the Customer agree that the fulfillment of the contract for the purchase of cryptocurrencies shall be commenced immediately after the conclusion of the contract with the separate consent of the Customer by means of a checkbox and that partial deliveries may also be made. The Customer expressly agrees to the premature start of the fulfillment of the contract by Coinfinity and acknowledges the loss of his right of withdrawal according to FAGG. The customer will be informed again about the loss of the right of withdrawal during the order process and must additionally exclude this right of withdrawal by actively clicking/checking a checkbox (according to § 6 para 3 of these GTC) before Coinfinity starts with the premature fulfillment of the contract. After receipt of this separate consent of the customer by means of a checkbox, a confirmation (see § 6 para 2 of these GTC) will be sent to the customer and Coinfinity will immediately begin with the fulfillment of the contract.
§ 2 Subject matter of the contract
(1) The subject matter of the contract is the purchase or sale of cryptocurrencies by the customer or the sale or purchase of cryptocurrencies by Coinfinity. In contrast to conventional money, cryptocurrencies are not issued centrally by an issuer, but are managed by a peer-to-peer network. It is noted that direct exchanges occur between users, with no central authority issuing or exchanging cryptocurrencies or controlling or reversing transactions. Although most cryptocurrencies focus on the payment function, in the Austrian legal system they are not legal currency or money, but immovable and incorporeal things (digital goods). However, due to the independent regulation of other countries, the classification of cryptocurrencies may differ significantly in detail.
(2) Currently, a large number of different cryptocurrencies (e.g. Bitcoin, Ether and Dash) are in circulation. Common to all cryptocurrencies is that data records are strung together and stored in the background in a so-called "blockchain" (see § 2 para 3 of these GTC). These data records concern, among other things, the records of transactions of cryptocurrencies between different addresses. Transactions of cryptocurrencies are feasible worldwide under the respective legal conditions and can be realized relatively quickly and inexpensively in most cases compared to conventional transaction methods. Furthermore, cryptocurrencies are fundamentally volatile. Their value is primarily determined by supply and demand, which is why there can be strong fluctuations in value within a short period of time. Therefore, cryptocurrencies are often used as speculation objects. On their own, however, cryptocurrencies can differ significantly in detail. It is already not a necessity that the payment function is in the foreground, as is the case with the best-known cryptocurrency Bitcoin, for example. The Ethereum network, for example, enables the creation and management of automated, intelligent contracts (smart contracts), which are processed via a blockchain. The associated cryptocurrency, Ether, is used - in addition to its usual payment function - to pay for the contracts within the network.
(3) The so-called blockchain is a continuously expandable list of data records that are chained together in "blocks" using cryptographic procedures. It thus represents a database, which, however, is not located on a central server, but on many different servers of the peer-to-peer network.In principle, the blockchain is the basis of all cryptocurrencies. However, it should be noted that there are many different blockchains, which can be structured differently in detail. In blockchains, cryptocurrency transactions can be recorded and stored. Normally, a blockchain can be viewed publicly and is stored on the user's computer in the case of local wallets (see § 2 para. 4 of these GTC below). Mining refers to the generation of the units of various cryptocurrencies by means of powerful hardware and computationally intensive processes under the respective technical or mathematical conditions, whereby new blocks of the blockchain are "calculated" by the network members and transactions are confirmed (validated) in the process. However, some cryptocurrencies know an upper limit of currency units that can be generated in total at most (about 21 million for Bitcoin).
(4) Cryptocurrencies are stored in a so-called wallet. A wallet is a virtual wallet. Wallets are available for the computer (local desktop wallet) and the smartphone (app-based mobile wallet), as well as online and as hardware wallet (esp. by means of USB stick) or paper wallet (on paper). The corresponding cryptocurrencies are transferred after receipt of payment to an address to be designated by the buyer, which is managed by the buyer's wallet. Coinfinity has no influence on the customer's wallet and on its security. The Wallet should be treated like a real wallet, since in case of its loss, in principle, the cryptocurrencies contained therein will also be lost. Therefore, it is the sole responsibility of the buyer to protect his wallet against loss or data theft in a timely manner. In connection with the wallet, a so-called private key is required to gain access to the funds held on a wallet address. It is advisable to always keep a private key yourself (non-custodial). If the wallet is used on a computer or smartphone, various security measures can be taken: a backup copy, for example, makes it possible to restore the wallet in the event of loss. It is recommended to regularly make backup copies on different storage locations and to encrypt them - especially in the case of backup copies stored online. Offline wallets (esp. hardware wallets) are considered the most secure option as they do not constantly connect to the internet.
(5) Coinfinity sells the cryptocurrencies Bitcoin ("BTC"), Ether ("ETH") and Dash. For all these three types of cryptocurrencies, the general statements of §§ 2 para 1 to para 4 of these GTC apply. The following paragraphs are intended to provide an informative overview of the functionality and possible applications of cryptocurrencies using Bitcoin, Ether and Dash as examples:
(6) Bitcoin is the first and currently the most important cryptocurrency in the world. The payment units of this cryptocurrency are called Bitcoins or Satoshis. As mentioned, the cryptocurrency Bitcoin is based on blockchain technology. Bitcoin became known in 2008 when a document titled "Bitcoin: A Peer-to-Peer Electronic Cash System" was published on the Internet. Not known, however, are more details about the inventor of Bitcoin, who went by the pseudonym Satoshi Nakamoto. For more details, the said document can be accessed at this link: http://bitcoin.org/bitcoin.pdf.
(7) It should be emphasized that Bitcoins are not accepted as a means of payment everywhere, this applies to Internet purchases as well as other purchases. The following websites can be used to locate entrepreneurs who accept Bitcoins as a means of payment: Coinmap (http://coinmap.org/); BTC-Echo (www.btc-echo.de/bitcoin-akzeptanzstellen/#oesterreich). Furthermore, it is possible to pay with Bitcoin in certain online stores. Examples include "Edustore" (online store for students) and "Lieferando" (delivery service). In some cases, it is also possible to pay with Bitcoin in so-called "ICOs" (Initial Coin Offerings). In addition, donations can also be transferred by means of Bitcoins, e.g. to Wikipedia, Wikileaks or Greenpeace.
(8) In order to pay with Bitcoins, a wallet is required in any case (see § 2 para 4 of these GTC). For the payment with Bitcoins in online stores there are basically three possibilities: 1. a Bitcoin address is displayed, which one has to insert in one's Wallet as payment address; 2. there is a button, via which the Wallet is automatically opened and the respective payment address is inserted; 3. a QR code is displayed, which one can scan with the smartphone, on which a Wallet app must also be installed. The payment with Bitcoins in other stores or restaurants, usually works by means of a QR code. The QR code can either already contain the amount to be paid, or you still have to insert the purchase price after opening the wallet app.
(9) Bitcoins can be exchanged for euros on so-called "exchanges" (barter exchanges). Exchanges are websites where cryptocurrencies can either be exchanged for other cryptocurrencies or changed into dollars or euros. In order to exchange Bitcoins into euros on exchange platforms, an account must be created on the respective websites. This usually requires mandatory identification via passport copy. Providers of exchanges provide different levels of identification, which allow different authorizations (e.g. to different trading volumes within a week). A passport copy and mail address are often not sufficient for the maximum authorizations; in this case, additional confirmation of whereabouts (such as a screenshot of the electricity or utility bill or a credit card statement with the residential address) is often requested. The so-called "approval process" (admission process for using the exchange) can take several weeks due to the high volume and administrative effort, but is usually completed within seven days.
(10) On Internet sites of exchange providers, one gets a new "wallet" (custodial). In order to exchange Bitcoins into euros, they must first be transferred to this "new" integrated wallet. After the Bitcoins have subsequently arrived in the "new" wallet, they can be sold on the exchange. The proceeds from the sale of the Bitcoins can then be transferred to one's own bank account. Depending on the platform, various payout options are available, for example via SEPA transfer to the customer's bank account or via PayPal.
(11) Exchange platforms charge transaction fees. Typically, transaction fees are calculated according to the amount of the deposit. The more total volume in a user's account, the lower the transaction fees usually are. Fees are usually incurred for each individual transaction and are calculated, for example, as a percentage from the respective current exchange currency volume of the trade.
(12) The sale of bitcoins for euros is possible via Coinfinity. Bitcoins can be sold via the website of Coinfinity (see § 4 para 3 of these GTC). The exchange of Bitcoins for Euros is partly also possible at many Bitcoin ATMs. For example, also at the Bitcoin ATM of Kurant GmbH(https://coinatmradar.com/operator/107/kurant-bitcoin-atm-operator/).
(13) To send Bitcoins, you need a wallet. Both the Bitcoin address and the private key are stored in this wallet. A Bitcoin address is randomly generated and consists of a sequence of letters and numbers; this is publicly visible. The private key is a different sequence of letters and numbers; however, unlike the Bitcoin address, this is kept secret. The Bitcoin address can be thought of as a lockbox with a glass door. Everyone knows what is inside, but only the private key can open the locker and put things in or take things out. Bitcoins are always transferred from one address to another.
(14) The encryption method used in Bitcoin is the "Elliptic Curve Digital Signature Algorithm (ECDSA)" under the standard elliptic curve "secp256k1", which provides 128-bit encryption. More detailed information on the technical basics of Bitcoin can be found, for example, on the website of Bitcoin Austria (bitcoin-austria.at) or the website of BTC-Echo (www.btc-echo.de). Furthermore, the following technical paper is recommended for a deeper understanding of the technical basics: www.datenschutzbeauftragter-info.de/bitcoin-technische-grundlagen-der-kryptowaehrung/#transaktionen.
(15) Just like Bitcoin, the cryptocurrency Ether is based on blockchain technology. The specific blockchain behind the Ether cryptocurrency is Ethereum. Ethereum was invented by Vitalik Buterin. Ethereum has been known since 2013, but unlike Bitcoin, Ethereum is not a pure cryptocurrency, but a platform for so-called distributed apps ("Dapps"). Dapps are programs that are programmed on the Ethereum blockchain and can have a wide variety of functions.
(16) It should be emphasized that Ether is not accepted everywhere as a means of payment; this applies to both Internet purchases and other purchases. Compared to Bitcoins, there are fewer places where Ether can be used as a means of payment. Since ICOs are often conducted on the Ethereum blockchain, acquirers of tokens usually pay for them with Ether. Moreover, ethers are currently used primarily as speculative objects, just like bitcoin.
(17) Ethers can also be exchanged for euros on exchanges (see Section 2 (9) of these GTC). The same explanations apply to Ether as to Bitcoins (see § 2 para. 9 to 11 of these GTC).
(18) In order to transfer Ether, an "Ethereum compatible" wallet is required (see § 2 para. 4 of these GTC). However, the exact procedure of a transfer is technically the same as for Bitcoins (see § 2 para 13 of these GTC). For further information on Ether, please refer to the website of BTC-Echo (www.btc-echo.de) and the website of Ethereum (www.ethereum.org).
(19) Dash is an open-source peer-to-peer cryptocurrency that offers comparable functionalities to Bitcoin. A special feature of Dash is that special attention is paid to data protection. Dash was released in January 2014 by Evan Duffield. Dash is compatible with all common merchants, exchanges and wallet software (see therefore explanations on Bitcoin under § 2 para 7 to 13 of these GTC). For more detailed information on Dash, please refer to the Dash website (www.dash.org). Coinfinity deliberately does not use the "PrivateSend" function which is in principle enabled by Dash. The Dash transactions sent by Coinfinity are therefore similarly transparent and traceable as Bitcoin transactions.
§ 3 Ordering Process and Conclusion of Contract
(1) In order to conclude a contract with Coinfinity, the customer must register a user account on https://coinfinity.co/. Further details can be found in § 4 para 18 and 19 of these GTC.
(2) By entering all data required for the conclusion of the contract, confirming that the customer has taken note of these GTC, expressly agreeing to and being aware of the loss of the right to withdraw from the contract in the event of premature commencement with the performance of the contract and clicking the button "Buy now subject to payment" or. "Sell now binding", the Customer undertakes to purchase cryptocurrencies from Coinfinity against payment or to sell the Customer's own cryptocurrencies to Coinfinity. For this purpose, the customer must select the euro equivalent of the cryptocurrencies to be acquired or specify the amount of specifically designated cryptocurrencies that he wishes to sell to Coinfinity. Before sending his information, the customer has the possibility to check his information again, to change it or to cancel the order with Coinfinity or the sale to Coinfinity.
(3) The confirmation of receipt of the order for the purchase of cryptocurrencies by the Customer (order confirmation), including the confirmation of the consent to the early start of the performance of the contract and the loss of the right of withdrawal, will be sent to the e-mail address provided to Coinfinity immediately after sending the order.
(4) When the Customer clicks on the button "Buy now with obligation to pay" or "Sell now with obligation to pay", a binding contract is concluded, which is fulfilled by transferring the cryptocurrencies or their equivalent value in euros to the account of the seller. For the fulfillment of the contract, the payment method selected during the order must always be used. For example, if the customer has selected SOFORT-Überweisung as a payment method, the payment must also be made via SOFORT-Überweisung, otherwise Coinfinity reserves the right to cancel the order.
§ 4 Payment and Terms of Use
(1) Following the clicking of the button "Buy now subject to payment" or "Sell now binding" and the verification of the customer's information, the customer will be forwarded to the website of the payment service provider www.sofort.com for payment processing if payment is made via SOFORT-Überweisung. Here the customer has to provide his bank details and his online banking access data. After completion of the payment transfer (after Coinfinity has received a payment confirmation from SOFORT), Coinfinity will initiate the transaction of the purchased cryptocurrencies to the wallet address provided by the customer within 60 minutes. The payment method SOFORT transfer is only available to the customer for the purchase of Bitcoin ("BTC").
(1.1) If no payment is received by Coinfinity despite a successful payment confirmation by SOFORT, the customer is, according to § 4.7 or § 4.8, the customer is nevertheless obligated to make the payment within the stated deadlines.
(2) When paying by SEPA bank transfer, Coinfinity will initiate the entire transaction amount to the wallet address provided by the customer at the latest as soon as Coinfinity is able to record the receipt of payment to the bank account indicated during the purchase. The SEPA bank transfer payment method is available to the Customer for the purchase of Bitcoin ("BTC"), Ether ("ETH") and Dash.
(3) When the Customer sells cryptocurrencies to Coinfinity, the Customer will receive the counter-amount in euros (see § 4 para 5 of these GTC) transferred to his bank account. For this purpose, he makes an order and is shown a wallet address to which he has to transfer the exact amount of cryptocurrencies within 10 minutes. Once the transaction is made on the blockchain, the euro amount is transferred to the customer's bank account. If no cryptocurrencies are sent, too few cryptocurrencies are sent, or if the cryptocurrencies are not sent within 10 minutes, the order will be automatically cancelled and the amount of cryptocurrencies will be returned if necessary.
(4) In case of orders outside the opening hours, Coinfinity reserves the right to conclude the execution of the contract at the beginning of the next business day. The opening hours are Monday to Friday, 10 a.m. - 1 p.m. and 2 p.m. - 5 p.m.
(5) The valid price is the (euro) price that is displayed on https://coinfinity.co for the respective cryptocurrency at the time the Customer clicks on the button "Buy now subject to payment" or "Sell now subject to obligation". This represents the current Coinfinity reference rate for the purchase or sale of cryptocurrencies. The reference rates for the purchase as well as the sale of cryptocurrencies can be viewed at any time via the website https://coinfinity.co/ and at https://coinfinity.co/faq-onlinekauf/.
(6) The processing of the order and the transmission of further information takes place both via output in the browser and via e-mail. The customer must therefore ensure that the e-mail address he has deposited with Coinfinity is accurate, the receipt of e-mails is technically ensured and, in particular, is not prevented by SPAM filters.
(7) The following applies to entrepreneurs: In the case of open orders for which no incoming payment can be determined after clicking the button "Buy now subject to payment" after 5 working days, the customer will be requested once by e-mail to settle the respective amount and temporarily blocked for further purchases. If still no payment has been received after a total of 10 business days, Coinfinity reserves the right to send a written reminder to the customer and to assign outstanding receivables for collection or to cancel the order at its own discretion.
(8) For consumers: Open orders must be settled within 14 days before Coinfinity sends an email request and the customer is temporarily blocked from further purchases. If payment is still not received after a total of 19 business days, Coinfinity reserves the right to send the customer a written reminder and to assign outstanding receivables for collection or to cancel the order.
(9) Coinfinity reserves the right to block customers from further purchases and sales at any time without giving reasons.
(10) Costs of credit institutions (e.g. fees for transfers or booking lines) are to be borne by the customer.
(11) The Customer undertakes to check his wallet address again before sending the order, as the cryptocurrencies can no longer be reversed or sent to another address once the transfer has been made.
(12) The respective transaction ID shall be deemed to be clear proof of the successful dispatch of cryptocurrencies; this is publicly available and can be viewed at any time. For the cryptocurrencies currently offered by Coinfinity, for example, via the following websites:Bitcoin: https://blockchain.info/Ether: https://etherscan.ioDash: https://chainz.crytoid.info/dash/
(13) Coinfinity considers both the acquisition of cryptocurrencies by customers against payment and the sale of customer-owned cryptocurrencies to Coinfinity to be completed as soon as the transaction is visible in the network.
(14) The minimum order value or the minimum sale value is EUR 50.
(15) The respective transaction fee ("Mining Fee") shall be paid by the Customer for both the sale and the purchase of cryptocurrencies.
(16) The Customer acknowledges that Coinfinity has no influence on the arrival of the confirmations in the network.
(17) The Customer undertakes to use all cryptocurrencies acquired on https://coinfinity.co exclusively for legal purposes and to pay any income or speculation taxes to the competent tax authorities.
(18) The Customer may only register once and create only one user account. If there are any changes to the data entered, the customer undertakes to notify these changes immediately.
(19) The user has no right to a user account with Coinfinity. By registering, the User does not obtain any legal claim to use Coinfinity's services. Coinfinity reserves the right not to register users without giving reasons and/or to delete and/or block existing users. Any claims of the user resulting from this are excluded.
(20) The Customer may open a User Account exclusively in its own name. The purchase and sale of cryptocurrencies may also be carried out exclusively in the Customer's own name. Acting as a trustee or intermediary of any kind for third parties with his user account or granting third parties access to his user account with Coinfinity is not permitted. In particular, the Customer is prohibited from buying or selling cryptocurrencies on behalf of third parties or transferring funds or cryptocurrencies to third parties via Coinfinity's Services.
§ 5 Warranty and Risk Sharing
(1) In addition to the statutory warranty rules, Coinfinity warrants that the cryptocurrencies purchased by the Customer will be sent to the wallet address specified by the Customer and that the cryptocurrencies are not encumbered with the rights of third parties. Conversely, the Customer warrants that the cryptocurrencies purchased from Coinfinity will be sent to the wallet address specified by Coinfinity as well as that the cryptocurrencies are not encumbered with the rights of third parties.
(2) The Parties are aware that due to the architecture of the networks of various cryptocurrencies, there are risks that may result in transactions not being executed or being executed incorrectly. Accordingly, it is agreed that the party in whose sphere of disposal the cryptocurrencies were last located shall bear the risk of loss. "Sphere of disposal" in this context means the ability of a party to actually dispose of cryptocurrencies by means of a wallet and to carry out transactions. If a loss of cryptocurrencies is attributable to the incorrect specification of the Wallet address by a party, the same shall be attributed to its own sphere of risk. The Customer acknowledges that transactions are irreversible. If Coinfinity sends any amount of cryptocurrencies to a wallet address incorrectly provided by the Customer, neither Coinfinity nor the Customer will be able to retrieve that amount of cryptocurrencies.
§ 6 Right of Withdrawal (Right of Cancellation)
(1) For consumers, according to § 11 FAGG, the customer can generally withdraw from a concluded contract within 14 days without giving reasons.
(2) Every consumer must waive his right of withdrawal for an effective conclusion of a contract with Coinfinity: Immediately after the conclusion of the contract and with the express consent of the consumer pursuant to Section 18 (1) (11) FAGG, the early performance of the contract shall be commenced before the expiry of the 14-day withdrawal period. By the express active consent of the consumer and his knowledge of the loss of his right of withdrawal in the order process, this enables Coinfinity to deliver cryptocurrencies before the expiry of the right of withdrawal. The consumer's active consent and awareness is provided by clicking/checking a checkbox. Cryptocurrencies are a digital content that is not stored on a physical data carrier within the meaning of § 18 para 1 Z 11 FAGG. The customer will receive a separate confirmation of the contract, including instructions on the loss of the right of withdrawal, after the conclusion of the contract as well as a download option of the GTC via email in accordance with § 7 para 3 FAGG transmitted.
§ 7 Disclaimer
(1) The liability of Coinfinity is excluded, unless a damage was caused intentionally or grossly negligent by Coinfinity or a third party attributable to it. This does not apply to injuries to the life or health of a person. Coinfinity's liability, with the exception of loss of data that Coinfinity could not have prevented under any circumstances, is excluded to the extent permitted by law. This applies, for example, to damage caused by force majeure, unforeseeable events, in particular network disruptions, computer failures or criminal activities by third parties. The exclusion of liability does not apply if Coinfinity caused the damage by slight negligence. Coinfinity is therefore liable for damages caused by slight negligence, unless objectively justified exceptions are made below in § 7 para 2 to 3 of these GTC.
(2) Coinfinity strives for a trouble-free and permanently upright operation of the Website. Information on the Website of Coinfinity is partly provided by third parties. Coinfinity carefully checks the data provided, but due to technical circumstances and for data generated outside the sphere of influence of Coinfinity, Coinfinity cannot guarantee or warrant that the services offered on the Website meet the requirements of the customers, are uninterrupted, timely, secure or error-free. The services offered are operated with the utmost care, reliability and availability. However, as mentioned, it is not possible for technical reasons that these services are accessible without interruption, that the desired connections can always be established or that stored data is preserved under all circumstances. Therefore, Coinfinity does not assume any liability for material damage caused, for example, due to system failures, faulty, delayed, manipulated or abusive data transmission, unless Coinfinity has acted intentionally or with gross negligence. This does not apply to injuries to the life or health of a person. The customer is also aware that a complete and uninterrupted availability is generally not technically feasible.
(3) Coinfinity is at liberty to restrict access to the Website due to maintenance work, capacity concerns and due to other events beyond its control, in whole or in part, temporarily or permanently. Coinfinity will endeavor to schedule maintenance work or changes to the server as far as possible, generally no later than two days in advance, if it is expected that the maintenance activity or change will lead to a loss of availability of the services offered or if advance notice appears necessary for other reasons. The customer must continuously inform himself about planned maintenance work on the website; there the customer receives the information at which times maintenance work is scheduled. Outages during necessary maintenance or repair work as well as outages during the agreed maintenance windows do not lead to any claims of the customer against Coinfinity, unless Coinfinity has acted intentionally or with gross negligence. This does not apply to injuries to the life or health of a person. Coinfinity therefore assumes no liability in the event of technical malfunctions of the website or maintenance work, if it is subsequently not possible for the Customer to acquire cryptocurrencies from Coinfinity at the desired rate or to sell them to Coinfinity.
§ 8 Data Protection
(1) The protection of the privacy and data of its customers is particularly important to Coinfinity. Coinfinity complies with all provisions of the General Data Protection Regulation (hereinafter referred to as "DSGVO") as amended.
(2) It is pointed out that Coinfinity collects, stores and processes the following personal data of customers (hereinafter referred to as "personal data") in the course of its business activities: First and last name, residential address, citizenship, date of birth, mail address, telephone number, bank details and IP address.
(3) These data processing operations are necessary, on the one hand, for the performance of the contract and, on the other hand, for compliance with legal regulations to which Coinfinity is subject. Furthermore, the processing of personal data is necessary for the protection of Coinfinity's legitimate interests. Coinfinity thus acts lawfully within the meaning of the DSGVO (Art 6 para 1 lit b, lit c and lit f DSGVO).
(4) Coinfinity will store personal data only for as long as Coinfinity considers it necessary to achieve the aforementioned purposes and as long as it is permitted by applicable law. In any case, Coinfinity will store the personal data for as long as legal obligations to store data exist or any legal claims have not yet become time-barred.
(5) If Coinfinity's website contains links to third-party websites, Coinfinity will no longer have any influence on the collection, processing or use of personal data by third parties after clicking on the link.
(6) For detailed information on data protection, please refer to Coinfinity's privacy policy, which can be viewed at https://coinfinity.co/datenschutzerklaerung.
§ 9 Notifications
Declarations or notifications should be addressed to Coinfinity GmbH, Griesgasse 10, 8020 Graz, Austria, office@coinfinity.co, +43 316 711 744. Further details on Coinfinity GmbH can be found in the imprint at https://coinfinity.co/impressum.
§10 Risks and Technical Protective Measures
(1) Coinfinity is not obliged to inform the Customer about impending losses in connection with the purchase or sale of cryptocurrencies or in connection with other acts of disposal of cryptocurrencies carried out by the Customer independently, about the value or worthlessness of transactions or about circumstances that may impair or endanger the value of these transactions, or to provide the Customer with other advice or information in this respect.
(2) Trading in cryptocurrencies involves a high risk of loss for the capital invested, up to and including total loss. Therefore, the Customer is expressly recommended to use only such financial resources whose partial or total loss he can afford. The customer must ensure that he is sufficiently familiar with the risks associated with the trading of cryptocurrencies. It is expressly recommended to seek advice from an independent and knowledgeable person or institution, if necessary, before the customer buys cryptocurrencies. Any personal success in trading cryptocurrencies in the past does not in any case indicate success in the future. Even though cryptocurrencies have sometimes experienced high value growth in the past, this is no guarantee of future performance. Investments in cryptocurrencies are highly risky and speculative. Price fluctuations of 10 and more percent a day are not uncommon. Only amounts of money should be invested in cryptocurrencies that come from free assets and are not needed for other purposes, such as living. An investment in cryptocurrencies which is financed with loans is to be rejected, since a total loss of the invested capital cannot be excluded. The price of the respective cryptocurrencies is subject to the laws of the free market and depends on supply and demand. If the supply exceeds the demand, the price falls; if the demand is greater than the supply, the price rises. Historical price developments are no indicator for future price developments. It cannot be ruled out that errors found in the respective cryptocurrency system (blockchain) can lead to the respective cryptocurrencies becoming worthless because no one wants to buy the cryptocurrencies anymore. The acceptance of cryptocurrencies is at the discretion and trust of the contracting party. There is no legal claim that obligates to accept cryptocurrencies as a means of payment or entitles to exchange them for real currencies. In addition, a possible ban on cryptocurrencies by the state would lead to marketplaces having to cease operations in whole or in part and owners of cryptocurrencies no longer being allowed to sell them.
(3) The Customer acknowledges that transactions are irreversible. If the Customer sends any amount of cryptocurrencies to the wrong person or address, the Customer will not be able to retrieve this amount.
(4) The Customer is strongly recommended to secure his connection, his end devices as well as his access data to protect against unauthorized access. The customer acknowledges that storing passwords, access data and other secret information on the hard disk of a PC is not secure. Furthermore, he acknowledges that by retrieving data from the Internet, viruses, Trojan horses or other components can be transferred to his end device, which can have a negative effect on his data or lead to the misuse of his access codes. Likewise, the Customer acknowledges that this may be done by "hackers".
§ 11 Final Provisions
(1) Insofar as these GTC only speak of ordering cryptocurrencies, the respective provisions shall apply mutatis mutandis to the sale of Customer-owned cryptocurrencies to Coinfinity.
(2) For entrepreneurs, the following applies: if individual provisions of the GTC are invalid or ineffective, this shall not affect the validity of the remaining provisions. The invalid or ineffective provision shall be replaced by a provision that comes as close as possible to the original intention of the contracting parties.
(3) These GTC shall be governed by Austrian law to the exclusion of the conflict of law rules of private international law. The application of the UN Convention on Contracts for the International Sale of Goods is excluded. For disputes arising from or in connection with these GTC or a contract concluded with Coinfinity on the basis of these GTC, the competent court in Graz or, in the case of contracts with consumers, the respective court of the consumer's domicile shall have exclusive jurisdiction.
