Cryptocurrency Exchange Terms and Conditions final

These Terms and Conditions (“Terms”) constitute the legal agreement between you (referred to as the “Client”) and FINWIZE EOOD, a company registered under the UIC 207119055 with Crypto Authorization BB-111/08.11.2022, having its registered address at 1000 city of Sofia, Region of Sofía (capital) Sofia Municipality, Serdika District 4 Vitosha Blvd., 1A (referred to as “the Company” or “we”). By utilizing our website (www.finwizcrypto.com) and our cryptocurrency exchange services, you acknowledge and accept these Terms in their entirety. If you do not agree with these Terms, we kindly ask you to refrain from using our services.

1. Service Description

1.1. The Company operates a non-custodial cryptocurrency exchange platform (“the Platform”) that facilitates the exchange of cryptocurrencies for fiat currency and vice versa. The Company does not store or invest clients’ funds; it exclusively offers exchange services for a fee.

1.2. To access the services provided by the Company, the Client must complete the registration and verification process, and also submit a buy or sell order request, which automatically leads to the signing of an agreement between the parties.

1.3. All funds held by the Company at any given time are recorded under a buy or sell contract.

2. Client Obligations

2.1. The Client shall comply with all applicable laws and regulations in their jurisdiction related to cryptocurrency transactions and shall use the Platform in a lawful and responsible manner.

2.2. The Client shall undergo the registration and verification process as required by the Company. This includes providing accurate personal information, completing KYC verification through www.veriff.com, and submitting any necessary documentation.

2.3. The Client shall submit a buy or sell order request through the Platform, completing all required information and digitally signing the relevant agreement.

3. Financial Responsibility

3.1. The Company charges a commission of 5% on all fiat-to-crypto and crypto-to-fiat transactions conducted on the Platform.

3.2. The Company holds financial responsibility for Client funds while the Client’s request is in process. After the Client’s funds have been delivered to the specified address or account as indicated in the buy or sell order form, financial responsibility is automatically transferred from the Company to the Client.

4. Delivery of Services

4.1. The Company commits to delivering the contracted services to the Client within a maximum of 72 working hours after the completion of all necessary procedures required by the Client.

5. Disclaimers

5.1. The Company disclaims any liability for external links or services mentioned on its website. Clients use such links or services at their own risk.

5.2. The Company is not responsible for the fluctuations in cryptocurrency prices and their potential impact on the Client’s investment.

6. Cryptocurrency Regulation in Bulgaria

6.1. As of 2022, Bulgarian legislation defines “virtual currencies” in accordance with item 24 (State Gazette, Issue 94 of 2019) of § 1 of the Additional Provisions of the Measures Against Money Laundering Act (MAMLA). Virtual currencies are described as “a digital representation of value, that is not issued or guaranteed by a central bank or a public body, is not necessarily related to a statutory currency and has no legal status of currency or money, but is accepted by natural or legal persons as a medium of exchange and can be transferred, stored and traded electronically.” This definition is also referred to in item 1 of § 1 of the Additional Provisions of Ordinance No. Н-9 of 7 August 2020.

6.2. Bulgarian authorities have adopted these definitions, and there are no specific cryptocurrency or fintech laws enacted or currently being prepared.

7. Governing Law

7.1. These Terms and any disputes arising from or in connection with them are subject to Bulgarian law and the exclusive jurisdiction of the courts in Sofia, Bulgaria.

By using our services, you agree to abide by these updated Terms and Conditions. The Company reserves the right to modify these Terms at any time, with updates posted on the website. It is the Client’s responsibility to regularly review these Terms for any changes. If you continue to use our services after any such modifications, you accept the updated Terms and Conditions. If you have any questions or concerns, please contact us at info@finwizcrypto.com or call +34642200669.