Termini di servizio.
1 Scope of Application of the Terms and Conditions
1.1 These General Terms and Conditions ("GTC") govern the entire business relationship between Cryptonow GmbH with its registered office in A-1010 Vienna ("Cryptonow") and its customers in connection with any online or electronic platforms (e.g., https://www.cryptonow.net), mobile applications of Cryptonow, as well as the associated programming interfaces ("Platform").
1.2 With respect to the gift cards described in Section 10, different provisions may apply depending on your country of residence. For persons residing in France, the provisions described in Annex I shall apply with respect to Section 10. For all persons residing in none of the aforementioned countries, Section 10 shall apply.
1.3 An overview of the definitions used in these GTC is provided in Annex II.
2 Registration and Verification
2.1 Registration. To use the Platform and the associated services, interested persons must create a user account ("Customer Account"). In the course of creation, potential customers must disclose their personal data and provide further information (the query includes name, email, mobile number, address, nationality, date of birth, source of funds, etc.). A person who has successfully completed this registration process (confirmed by Cryptonow) shall be referred to as a "Customer".
2.2 Verification. To avail of certain services from Cryptonow, the Customer must be verified. The duration, required steps, and requirements of the customer verification process depend on security requirements, particularly with regard to combating money laundering and terrorist financing, and may change from time to time depending on the legal framework and technical developments.
2.3 Duty to Provide Information. Cryptonow is entitled to request additional information and documents from the Customer in the context of registration and verification, as well as throughout the entire duration of the business relationship, which are required by law or by regulatory guidelines (e.g., FMA, ESMA, or EBA guidelines).
2.4 No Guarantee of Successful Completion. There is no guarantee that a person will successfully complete the verification process or become a Customer, even if all information requested by Cryptonow has been provided.
2.5 The contract between Cryptonow and the Customer shall be concluded – unless otherwise agreed – for an indefinite period.
2.6 License for Use. In accordance with and subject to compliance with all provisions applicable to the Customer, Cryptonow grants the Customer a gratuitous, limited, revocable, non-exclusive, non-transferable, and non-sublicensable right to access and use the Platform.
3 Customer Account, Acting in Own Name
3.1 Prohibition of Multiple Customer Accounts. The Platform permits only one single Customer Account per Customer. If a further Customer Account is opened in addition to the first Customer Account, the following shall apply: Cryptonow shall be entitled to suspend and hold under lock one of the Customer Accounts. Assets deposited on the closed Customer Account shall be transferred to the other Customer Account, provided the Customer can prove (e.g., via the identification service used by Cryptonow) that he is both the creator and the owner of the first Customer Account and the second Customer Account.
3.2 Prohibition of Joint Accounts. Joint accounts are not permitted on the Platform.
3.3 No Transfer of Accounts. The Customer shall not be entitled to transfer his Customer Account to another person, neither by sale, gift, nor in any other manner.
3.4 No Transfer of Rights. Without the prior express consent of Cryptonow, the Customer may not assign or transfer to third parties any rights arising from the GTC or relating to assets deposited on the Platform. Excluded from this are a) monetary claims of the Customer against Cryptonow, b) claims of the Customer, provided Cryptonow has no protectable interests in a prohibition of assignment, or c) cases in which the legitimate interests of the Customer in the transfer outweigh the protectable interests of Cryptonow.
3.5 Acting in Own Name. The Customer acts exclusively in his own name and on his own account. The Customer may use his Customer Account only for himself and may not conduct any transactions as an intermediary, broker, or trustee for another person (including co-ownership or shared economic ownership of the Customer Account or the assets assigned to the account).
4 Customer Restrictions
4.1 Cryptonow shall not enter into legal transactions with the following persons, shall not accept them as Customers, and none of these persons shall be entitled to register a Customer Account or use the Platform:
4.1.1 Persons who are either younger than 18 years or have not yet reached the legal minimum age (if higher) to become a Customer and/or use the Platform in accordance with the laws applicable to them;
4.1.2 Legal entities or natural persons who wish to use the Platform commercially;
4.1.3 Persons who lack legal capacity;
4.1.4 Persons who are resident in the United States of America or a country subject to economic sanctions by the United Nations, the European Union, the United States of America, or the United Kingdom, or who hold citizenship of such a country.
4.1.5 Persons whose Customer Account was extraordinarily terminated at an earlier point in time.
4.2 Cryptonow reserves the right, at its sole discretion, to exclude any person or jurisdiction from using its services at any time.
5 Access and Authentication
5.1 Access Control and Customer Authentication. Customers may use the services of Cryptonow only via their Customer Account on the Platform after prior customer authentication.
5.2 Two-Factor Authentication. As a preventive security measure, Cryptonow recommends that every Customer use two-factor authentication ("2FA") on the Platform. With 2FA, in addition to the password, verification via a second factor – either by email, SMS, or push notification ("2F") – is required.
5.3 No Disclosure of Passwords. The Customer shall not disclose his password to third parties.
5.4 Password | Loss or Theft of the 2FA. In the event of theft of the password or loss or theft of the 2F, the Customer must immediately inform Cryptonow of such loss or theft as soon as he becomes aware thereof and follow the instructions of Cryptonow.
5.5 Password Reset. If a password is reset, Cryptonow may, for security reasons, suspend all transactions to or from the Customer Account for a period of up to 48 hours. This serves as a protective measure to minimize the effects of unauthorized access through password reset. This provision applies regardless of whether the password reset was initiated by the Customer himself or by an unauthorized person (e.g., a fraudster).
5.6 Recovery. Cryptonow does not store the 2F of the 2FA and has no control over it. If the Customer is unable to recover the 2F after a loss (e.g., loss of mobile phone), he must contact the Cryptonow support team for security reasons before access to the Customer Account can be restored. To ensure that no unauthorized access to the Customer Account and the assets stored thereon is obtained, the Cryptonow support team shall request documents and evidence (e.g., a transfer to the relevant Customer Account and proof of identity by presenting an official photo ID). These documents must be sufficient to confirm the identity of the Customer as well as the legitimacy of the request. For security reasons, Cryptonow shall not disclose details in advance regarding the scope and content of this request. Therefore, in the event of loss of the 2F, the active cooperation of the Customer is required, and until the completion of the procedure described in this Section, no dispositions over the Customer Account, including all assets and funds, may be made.
5.7 Deposit and Withdrawal Limits. There are deposit and withdrawal limits for legal tender, which can be found here: https://www.cryptonow.net/en/service-overview. The Customer may possibly not request a withdrawal if the payment order has not yet been completed and has not yet been credited to the Customer Account. Cryptonow may impose a blocking period of up to 7 (seven) days for withdrawals after a deposit. During this period, no withdrawals of the Customer in legal tender may be made, and no crypto withdrawal requests may be submitted.
6 Obligations to Act and Cooperate on the Part of the Customer
The Customer must:
6.1 immediately report any defects or other problems with the Platform or related transactions that the Customer has either caused or of which he is aware, and support Cryptonow in remedying the problem in accordance with Cryptonow's instructions and to the extent possible;
6.2 provide his primary residence during the customer verification process;
6.3 immediately update or inform Cryptonow of any changes to his personal data (name, postal address, primary residence, or email address) via the Platform. The same applies if the Customer determines that – for whatever reason – the personal data displayed on the Platform does not match the documents and information he has provided to Cryptonow (e.g., different spellings of the name in the passport and on the Platform). Until the Customer notifies Cryptonow of a new email address or postal address, communications from Cryptonow shall continue to be sent to the previous email address or postal address. Declarations delivered to the previous address shall be deemed received by the Customer if Cryptonow was neither (i) aware of a change in the email address or postal address nor (ii) unaware of such a change due to gross negligence on the part of Cryptonow;
6.4 take all reasonable precautions to protect the password and 2F from unauthorized access;
6.5 provide Cryptonow with all necessary data and/or information serving as proof of the origin of funds (e.g., bank statements or other information from banks or financial institutions, purchase agreements or general contracts or other suitable data) that Cryptonow requires to provide services to the Customer and whose provision is reasonable for the Customer. The documents and data submitted by the Customer shall be subject to review by Cryptonow. Cryptonow shall review the documents as quickly as possible; and
6.6 immediately inform Cryptonow of the loss or restriction of his legal capacity, to the extent possible and reasonable.
The Customer shall not:
6.7 use the Platform in a manner that violates applicable laws or regulations;
6.8 use the Platform in a manner that causes harm to Cryptonow or another Customer; or
6.9 upload content to the Platform that could be considered offensive, defamatory, threatening, or otherwise harmful to others, or upload or transmit viruses or other types of malicious code.
7 Fiat Transactions
7.1 Cryptonow does not operate bank accounts, payment accounts, or similar for Customers. However, Customers may transfer amounts of legal tender ("Fiat Money") that they wish to use on the Platform to an account disclosed by Cryptonow in the name of Cryptonow, provided by a third party (a licensed credit institution), and thus hold Fiat Money that can be used on the Platform.
7.2 Requirement of a Single Payment Service Provider Account. An account with a payment service provider (e.g., a bank account) may be assigned exclusively to a single Customer Account and thus to a single Customer.
7.3 Matching Names. The name of the holder of the payment service provider account must match the name of the Customer assigned to the respective Customer Account.
7.4 Funding the Customer Account. The Customer's Fiat Money balance on the Platform increases either through (i) deposit of legal tender to the account disclosed by Cryptonow at the cooperating bank or (ii) receipt of proceeds from transactions (e.g., sales) on the Platform.
8 Exchange of Crypto Assets for a Sum of Money or for Other Crypto Assets
8.1 On the Platform, fully verified Customers have the opportunity, in accordance with the process described below, to (i) purchase, (ii) sell, or (iii) exchange crypto assets.
8.2 "Purchase Offer". If a Customer submits an offer to purchase crypto assets, this shall be interpreted as an offer to enter into a transaction in which the Customer purchases crypto assets against payment of a sum of money at a price published on the Platform.
8.3 "Sale Offer". If the Customer submits an offer to sell crypto assets, this shall be interpreted as an offer to enter into a transaction in which the Customer receives the sum of money determined and fixed by him in exchange for the sale of a specific quantity of crypto assets.
8.4 "Exchange Offer" (together with Purchase Offer and Sale Offer, "Customer Offer"). If the Customer submits an offer to exchange one crypto asset for other crypto assets, this constitutes an offer by the Customer in which the Customer receives the quantity and type of crypto asset determined and fixed by him in exchange for the sale of a specific quantity of another crypto asset currently held by the Customer on the Platform.
8.5 Interpretation of the Offer. Each Purchase Offer shall be interpreted and qualified exclusively as a binding offer by the Customer to accept the receipt of crypto assets against payment of the displayed sum of money. Each Sale Offer shall be interpreted and qualified exclusively as a binding offer by the Customer to receive the displayed sum of money against transfer of a specific quantity and type of crypto assets. Each Exchange Offer shall be interpreted and qualified exclusively as a binding offer by the Customer to receive the displayed quantity of a specific type of crypto assets against transfer of a specific quantity and type of crypto assets.
8.6 Acceptance by Actual Performance. A Customer Offer may be accepted or rejected by Cryptonow uno actu through actual performance of the offer within the offer period. The Customer shall be informed of the acceptance or non-acceptance of the Customer Offer. Actual performance means the crediting of the sum of money or the crypto asset to the Customer Account.
8.7 Offer Period. The Customer is bound by a Customer Offer for a period of 24 hours after submitting a Customer Offer. Receipt of a Customer Offer shall be confirmed immediately.
8.8 Minimum Transaction Volume. In general, each Customer Offer must have a countervalue of at least EUR 1.00 (according to the rates used on the Platform). The Customer may not submit a Customer Offer that falls below the minimum transaction volume.
8.9 Customer Information After Execution of the Transaction. After conclusion of a transaction, the Customer shall be informed on the Platform and on a durable medium (e.g., email) of the successful conclusion of the transaction or its rejection.
8.10 No Binding Offers. The numbers, values, or exchange reference prices stated on the Platform do not constitute binding offers but an invitation to the Customer to submit a Customer Offer via the Platform (invitatio ad offerendum).
8.11 Fees. Each concluded transaction triggers fees, which are displayed to the Customer prior to submission of the offer and can be viewed here: https://www.cryptonow.net/en/how-we-make-money.
9 Savings Plans
9.1 As an alternative to the option of making one-time purchases of crypto assets, fully verified Customers may also make regular investments in crypto assets by setting up recurring purchase offers within the framework of a savings plan on the Platform and confirming the submission of the offer.
9.2 Interpretation of the Offer to Set Up a Savings Plan. Each "Savings Plan" shall be interpreted and qualified exclusively as a binding offer by the Customer to accept the receipt of a specific crypto asset on a recurring basis at the market prices then applicable on the Platform, against a recurring fixed payment in a currency that is legal tender, as determined by the Customer. The first execution of the savings plan (date and time) as well as the frequency of repetition of the savings plan (daily, weekly, bi-weekly, or monthly) shall be determined by the Customer upon submission of the savings plan on the Platform.
9.3 Acceptance of the Savings Plan by Actual Performance. The savings plan may be accepted or rejected by Cryptonow. Upon acceptance of the savings plan, a savings plan shall be established and executed through actual performance. The Customer shall be informed of the acceptance or rejection of the savings plan.
9.4 Each recurring execution of the savings plan may be accepted or rejected by Cryptonow. Rejection shall have no effect on the crypto assets previously acquired by the Customer under the savings plan.
9.5 Multiple Savings Plans. The Customer may open and hold multiple independent active savings plans. Each savings plan may cover only one specific crypto asset.
9.6 Payment Methods. When using the savings plan, a choice may be made between a SEPA direct debit mandate or a recurring credit card charge as the payment method:
9.6.1 SEPA Direct Debit Mandate. By selecting the SEPA direct debit mandate, the Customer revocably grants Cryptonow a SEPA direct debit mandate to debit his "Customer Bank Account" at maturity and in the amount of the payments due from the Customer.
9.6.2 Recurring Payment by Credit Card. By selecting recurring credit card payments, the Customer revocably authorizes Cryptonow to charge his credit card at maturity and in the amount of the payments due from him and in accordance with the general terms and conditions applicable to his credit card.
9.6.3 Payment Debit and Pre-Notification. The timing of the payment debit may be up to ten days prior to the respective recurring purchase date indicated. The Customer shall be notified by email of the payment amount and the debit date after the payment has been successfully completed.
9.6.4 Failed Execution. If execution of a savings plan is not possible for any reason, no crypto assets shall be credited to the Customer Account. In such a case, the Customer shall be notified by email of the failed execution of the savings plan.
9.7 Revocation. The Customer may revoke a savings plan granted by SEPA direct debit or credit card at any time. A revocation shall become effective no later than two business days after submission of the revocation by the Customer. The savings plan shall still be executed after revocation or suspension if the revocation or suspension occurs between the time of debit from the bank account and the respective recurring purchase date.
9.8 Costs for Failed Payments. If the payment debit is not possible (e.g., refusal or rejection of the direct debit by the bank) or a direct debit reversal occurs and the Customer is responsible for the delay or failure, he shall bear the resulting costs to the extent they are necessary to cover the reasonable administrative effort. Furthermore, the Customer authorizes the re-execution of the payment at a later date.
9.9 Change of Payment Methods. The accepted payment methods may be changed, supplemented, and/or discontinued for objectively justified reasons, provided such changes are notified to the Customer in advance.
9.10 Fees. Each concluded execution of a savings plan triggers fees. The fees can be viewed here: https://www.cryptonow.net/en/how-we-make-money.
10 Cryptonow Gift Card
10.1 Cryptonow offers the following physical and digital gift cards ("Gift Card"):
10.1.1 Bitcoin Starter Kit® Gift Card
10.1.1.1 The Bitcoin Starter Kit® Gift Card is a physical or digital prepaid value card and constitutes a standard commercial gift card.
10.1.1.2 The Bitcoin Starter Kit® Gift Card contains a credit in Fiat Money (EUR, CHF) acquired for the specific purpose of exchange into the cryptocurrency Bitcoin. Activation and use of the gift card credit are only possible on the Platform.
10.1.1.3 For the use and activation of the Bitcoin Starter Kit® Gift Card, the prior creation of a Customer Account as well as registration and successful verification are necessary.
10.1.1.4 After successful registration, the gift card holder activates the voucher on the Platform using ID and PIN code.
10.1.1.5 The Bitcoin Starter Kit® Gift Card simultaneously functions as an empty blockchain non-custodial offline crypto wallet for Bitcoin with a unique blockchain destination address and an associated "Private Key" for access. Custody is the sole responsibility of the Customer. Cryptonow does not know the Private Keys and can neither disclose nor recover them.
10.1.1.6 A Private Key is a cryptographic key that enables the holder to access and control his crypto assets. The Private Key must be kept strictly confidential and secure, as any person with access to it is able to manage and transfer the associated crypto assets.
10.1.1.7 After execution of the exchange, the crypto assets may be transferred to the blockchain non-custodial offline crypto wallet for Bitcoin of the Bitcoin Starter Kit® Gift Card.
10.1.1.8 Alternatively, the gift card holder may decide to have the crypto assets custodied and managed by Cryptonow in accordance with Section 12. This is only possible for fully verified Customers.
10.1.1.9 If the Customer does not make a decision after activation of the gift card, the amount shall be automatically transferred free of charge to the Customer Account and thus custody and management of crypto assets by Cryptonow shall be selected (if the Customer is fully verified).
10.1.2 Cryptonow Prepaid Gift Cards
10.1.2.1 The Cryptonow Prepaid Gift Card is a physical or digital prepaid value card that serves as a standard commercial gift voucher.
10.1.2.2 The gift card contains a prepaid credit in Fiat Money (EUR, CHF[PN2] ) that can be used exclusively on the Platform. Activation and use of the gift card credit are only possible on the Platform.
10.1.2.3 For the use and activation of the gift card, the prior creation of a Customer Account as well as verification are necessary.
10.1.2.4 After successful registration and verification, the gift card holder activates the voucher on the Platform using ID and PIN code.
10.1.2.5 After execution of the exchange, crypto assets shall be custodied on the Platform in accordance with Section 12 Custody and Management of Crypto Assets by Cryptonow.
10.2 The gift cards can be purchased at various points of sale and online shops.
10.3 "Exchange Offer". After successful legitimacy check, the gift card holder may exchange the available Fiat credit on the Platform into available crypto assets. On the Platform, the provisional exchange rate from Fiat Money (e.g., EUR, CHF[PN3] ) to the crypto asset is displayed and updated after a few seconds. If a Customer submits an offer to exchange the credit of a gift card for crypto assets, this shall be interpreted as an offer to enter into a transaction in which the Customer purchases crypto assets against redemption of the gift card at a price published on the Platform at that time. By pressing the "Execute Order" button, the exchange offer becomes binding and cannot be reversed.
10.4 Interpretation of the Offer. Each exchange offer shall be interpreted and qualified exclusively as a binding offer by the Customer to accept the receipt of crypto assets against redemption of the gift card.
10.5 Acceptance by Actual Performance. A Customer Offer may be accepted or rejected uno actu through actual performance of the offer within the offer period. The Customer shall be informed of the acceptance or non-acceptance of the Customer Offer. Actual performance means the crediting of the crypto asset to the Customer Account.
10.6 Cryptonow conducts a legitimacy check, which includes the validity of the gift card, the Customer Account, as well as compliance, system, and limit monitoring. Cryptonow reserves the right to temporarily or permanently refuse the gift card activation or to block the gift card if there is a legitimate reason in accordance with Section 16.3.
10.7 Customer Information After Execution of the Transaction. After conclusion of a transaction, the Customer shall be informed on the Platform and on a durable medium (e.g., email) of the successful conclusion of the transaction or its rejection.
10.8 Reversal. Reversal of the order or reactivation of the voucher is excluded.
10.9 Term. The validity of the gift card is indicated on the back of the packaging. In case of doubt, the gift card is valid for 1 year [PN4] , starting from the end of the year in which the voucher was activated in the course of the purchase. For special promotional cards, which are marked as such, the validity is limited to 6 months.
10.10 Withdrawal Restrictions. Cash payout of the gift card credit is not possible. Return of the gift card at the point of purchase is possible provided the gift card has not yet been activated (see Section 10.1). Exchange for other vouchers is excluded. The credit shall not bear interest.[PN5]
10.11 Purchased gift cards that have not yet been loaded onto a Customer Account may be gifted to other persons. Once the gift card has been redeemed to the Customer Account, it is no longer transferable to another person or another account. Commercial trading in gift cards is prohibited.
10.12 The gift card does not fall within the scope of the Payment Services Act. The available gift card credit is not a deposit or similar arrangement.
10.13 Risk of Loss. In the event of loss, theft, fraud, or damage to the card, Cryptonow assumes no liability, and such cards shall not be replaced.
10.14 Fees. Any applicable fees related to gift cards can be viewed directly on the Platform as well as on the website at https://www.cryptonow.net/en/how-we-make-money.
11 Standard Agreement for Transfer Services
11.1 Modalities of Transfer Services
11.1.1 Transfers of crypto assets from the Customer Account to a wallet outside the Platform ("Crypto Withdrawal") or transfers from a wallet outside the Platform to the Customer Account ("Crypto Deposit") constitute "Transfer Services" provided by Cryptonow.
11.1.2 Transfer Services are processed on-chain on the protocol of the respective "DLT Network".
11.1.3 The Transfer Service is completed and can no longer be reversed once the transaction appears on the external DLT Network. The Transfer Service can only be completed through confirmation by the corresponding network.
11.2 Procedure for Initiating or Consenting to Transfer Services
11.2.1 The Customer may initiate a Transfer Service by selecting the crypto asset to be transferred on the Platform, entering the transfer details (e.g., type and quantity of the crypto asset, recipient, wallet address, etc.), and subsequently confirming the summary of the Transfer Service.
11.2.2 After successful initiation of a Transfer Service, Cryptonow debits the transferred amount and the applicable blockchain fees from the Customer's crypto asset balance in the internal order management system. The updated account balance shall then be displayed in the Customer's account on the Platform.
11.3 Receipt of the Transfer Service
11.3.1 Any initiation of a Transfer Service received by Cryptonow before 23:59 (CET) shall be deemed received on the same business day. There are no fixed cut-off times.
11.4 Execution of Transfer Services
11.4.1 Once the Transfer Service has been received by Cryptonow, Cryptonow shall perform the necessary compliance steps and verify in particular compliance with the requirements of Regulation (EU) 2023/1113 on information accompanying transfers of funds and transfers of certain crypto-assets ("Travel Rule") and other applicable provisions for the prevention of money laundering and terrorist financing ("AML/CFT") (e.g., comparison with sanctions lists).
11.4.2 If these compliance checks can be successfully completed, Cryptonow shall execute the Transfer Service on the basis of the data provided by the Customer on the DLT Network selected by the Customer.
11.5 Reasons for Rejection or Suspension of a Transfer Service
11.5.1 Cryptonow may suspend the Transfer Service initiated by the Customer for the following reasons:
11.5.1.1 Unusual activities or conspicuous user behavior;
11.5.1.2 Use of VPN services;
11.5.1.3 Frequent changes of IP address;
11.5.1.4 Login or transaction patterns that significantly deviate from usual behavior;
11.5.1.5 Multiple incorrect entries of two-factor authentication codes (2FA);
11.5.1.6 Changes to the account or security status (such as password change or adjustment of stored authentication methods)
11.5.2 Cryptonow may reject the Transfer Service initiated by the Customer for the following reasons:
11.5.2.1 Insufficient available crypto asset balance of the Customer. In this case, the Transfer Service shall be completely rejected and no partial execution shall take place;
11.5.2.2 The specified recipient address does not match the selected DLT Network;
11.5.2.3 The Customer attempts to deposit an unsupported crypto asset or use an unsupported DLT Network;
11.5.2.4 No destination tag is specified for a DLT Network that requires such a tag;
11.5.2.5 An applicable withdrawal limit is exceeded;
11.5.2.6 The minimum transfer amount for a specific crypto asset is not met;
11.5.2.7 The maximum execution period of the DLT Network is exceeded;
11.5.2.8 The sender or recipient of a Transfer Service provides incomplete or inconsistent information required under the Travel Rule or other AML/CFT provisions;
11.5.2.9 In the case of a Transfer Service to or from a hosted wallet, the due diligence required from an AML/CFT perspective cannot be successfully performed (e.g., due to lack of cooperation by the service provider or due to risks or inadequate standards of the recipient's service provider);
11.5.2.10 In the case of a Transfer Service to or from a non-hosted wallet, the sender or recipient of the Transfer Service cannot verify ownership of the wallet address;
11.5.2.11 Cryptonow's internal compliance and AML/CFT policies require non-execution of the Transfer Service;
11.5.2.12 Rejection/marking by DLT Network transaction monitoring systems;
11.5.2.13 Rejection by the crypto asset service provider of the recipient of a Crypto Withdrawal;
11.5.2.14 Cryptonow must suspend (a part of) its Transfer Services due to maintenance work, technical problems, or DLT Network upgrades.
11.6 Customer Information in the Event of Rejection or Suspension of Transfer Services
11.6.1 If Cryptonow rejects or suspends a Transfer Service, Cryptonow shall inform the Customer of such rejection or suspension and provide the Customer with the following information:
11.6.1.1 The reason why the Transfer Service was rejected or suspended, provided that the disclosure of this information complies with all regulatory requirements;
11.6.1.2 Steps that the Customer may take, if applicable, to remedy the rejection or suspension of the Transfer Service; and
11.6.1.3 The amount of fees or costs that have already been incurred by the Customer, including the question of whether these fees are to be borne by the Customer or refunded, if necessary.
The foregoing applies only if the customer information is reasonable and feasible from an AML and regulatory perspective.
11.7 Maximum Execution Period
11.7.1 The time until execution of a Transfer Service via the affected DLT Network is outside the sphere of influence of Cryptonow. This time is not calculated on the basis of traditional time measurements, but on the basis of new block confirmations (i.e., batches of completed transactions) added to the relevant DLT Network from the time of transmission to the relevant DLT Network. The rules of the respective DLT Network define the maximum execution time until a Transfer Service must be included in a new block confirmation.
11.7.2 A list of these maximum execution times for each available crypto asset and each supported DLT Network, including the number of block confirmations required for the transfer of the crypto asset to be irreversible for each DLT Network, can be found by the Customer on the Cryptonow website: https://www.cryptonow.net/en/service-overview.
11.8 Fees
11.8.1 Transaction or miner fees may apply that are outside the sphere of Cryptonow, which must be borne by the Customer and settled directly.
11.9 Customer Information After Execution of the Transaction
The Customer shall be provided with a confirmation of the completed transaction on the Platform and on a durable medium (e.g., email) after successful completion of a transaction.
11.10 Unauthorized or Incorrectly Initiated Transfer Services
11.10.1 If the Customer has reason to believe that an unauthorized or incorrectly initiated Transfer Service exists, the Customer must report this to Cryptonow as promptly as possible.
11.10.2 In the event of an unauthorized or erroneously initiated Transfer Service, Cryptonow shall be liable to the Customer on the basis of the limitation for claims for damages set forth in Section 24. Cryptonow shall not be liable for incidents that are not attributable to Cryptonow.
11.11 Special Case Return via Paper Wallet. The Transfer Services described in Sections 11.1 to 11.10 are not available for all crypto assets offered on the Platform ("Transfer-Restricted Crypto Assets"). Transfer-Restricted Crypto Assets may be purchased and sold by Customers at any time on the Platform, but cannot be transferred with automation support. If a Customer nevertheless wishes to transfer a Transfer-Restricted Crypto Asset outside the Platform, he may request a return of crypto assets from Cryptonow in accordance with this subsection. Transfer-Restricted Crypto Assets are expressly marked on the Platform.
11.11.1 The Customer may request the delivery of a Transfer-Restricted Crypto Asset via the Platform in his Customer Account or via customer support. In this request, the Customer must fully disclose the necessary information for processing this request (e.g., type of Transfer-Restricted Crypto Asset, number of crypto assets, etc.).
11.11.2 Upon presentation of an official and valid photo ID, Cryptonow shall verify the identity of the Customer in the context of a video call and perform the verification by comparison with the data stored at Cryptonow.
11.11.3 After identification and verification by Cryptonow, the Customer may either personally collect the Public and Private Key (and thus the necessary access means – hereinafter referred to as "Paper Wallet") at Cryptonow's headquarters, or request that Cryptonow send the Paper Wallet to him via the email address associated with the Customer Account. If the Customer chooses to send the Paper Wallet by email, the Customer bears the risk of transmission by electronic means (in particular, also the risk of accidental loss of the access data and/or the associated Transfer-Restricted Crypto Assets).
11.11.4 The Paper Wallet contains the corresponding Transfer-Restricted Crypto Assets of the Customer at that time that he wishes to receive. Further disposition over these crypto assets and the "Paper Wallet" is not restricted by Cryptonow. With the transmission pursuant to 11.11.3, these crypto assets are no longer in custody by Cryptonow and no regulated services are provided in relation to these returned crypto assets.
11.12 Abusive Use of the Paper Wallet. Cryptonow reserves the right, in the event of (suspected) abusive use of the Paper Wallet solution (e.g., repeated withdrawals of small amounts without corresponding justification), to charge a corresponding reimbursement of expenses for the creation of a Paper Wallet.
11.13 Crypto Deposit. To make a deposit to the Customer Account, the Customer must generate a wallet address in his Customer Account. To do so, the Customer selects the crypto asset he wishes to transfer, clicks on "Deposit" and selects the correct network as specified by the sending party. If the crypto asset supports an option for a destination tag, a memo, or a message, the Customer must specify this, otherwise the crypto assets may be lost. It should be noted that only crypto assets supported by Cryptonow can be deposited. A list of supported crypto assets can be viewed here: www.cryptonow.net/en/service-overview.
11.14 Fees. Each executed Transfer Service triggers fees. The fees can be viewed here: https://www.cryptonow.net/en/how-we-make-money.
11.15 Security Systems. Cryptonow employs the security systems described in Section 13 for the provision of Transfer Services.
12 Standard Agreement for the Custody and Management of Crypto Assets
12.1 Management and Custody Services / Custody Strategy
12.1.1 Custody Services. Cryptonow offers the custody and management of crypto assets and custodies and controls crypto assets or the means of access to such crypto assets for fully verified Customers ("Management and Custody Services").
12.1.2 Ownership. The Customer has no self-management over the crypto assets custodied at Cryptonow and only Cryptonow has the access means to these crypto assets (e.g., Private Keys). Cryptonow manages the Customer's crypto assets in accordance with his instructions and the Customer is the civil law and economic owner of the custodied crypto assets.
12.1.3 No Discretion of Cryptonow. Cryptonow provides Management and Custody Services only upon express instruction of the Customers.
12.1.4 Internal Order Management System. Cryptonow custodies the crypto assets of several or all Customers on joint On-Chain Omnibus Wallets. Through an internal order management system, Cryptonow is nevertheless able to assign the crypto assets to the individual Customers at any time. All movements and transactions via the services on the Platform are automatically and simultaneously displayed in the internal order management system and recorded as changes in the positions of the individual Customers.
12.1.5 Separation. Cryptonow's own crypto assets and Customers' crypto assets are strictly separated and held in different wallets. Cryptonow custodies, manages, and holds crypto assets in the name and on behalf of the Customers, but does not use the Customers' crypto assets, unless Cryptonow is explicitly instructed to do so by the Customer.
12.1.6 Display of Crypto Assets. All assets recorded in the internal order management system in favor of the Customer Account are displayed uniformly on the Platform (also in aggregated form). This display method serves exclusively for informational purposes and has no effects on the various underlying legal concepts that are established and set forth in the framework of these GTC.
12.1.7 Balance Statement. Once per quarter and upon request of the relevant Customer, Cryptonow shall provide the Customer with a statement of the crypto assets held in his name in electronic form. This statement lists the respective crypto assets, their current amount, their current value (in a selected official currency), and the transfers of crypto assets made during the relevant period (including deposits, withdrawals, and transactions on the Platform).
12.1.8 Custodied Assets. The custodied assets consist of all crypto assets credited to the Customer Account as a direct consequence of:
- a purchase, exchange, or exchange of a gift card processed via the Platform; or
- a transfer of crypto assets to the Platform, if all required evidence has been provided.
For clarification: All other crypto assets that are credited to the Customer Account for whatever reason (e.g., by making a transfer without sufficient evidence) do not constitute custodied assets.
12.1.9 Wallets. The Customer's crypto assets are stored in a combination of Hot, Warm, and Cold Wallets to ensure protection and liquidity. An overview of the wallet systems used can be found here for information:
12.1.9.1 Hot Wallets. The Hot Omnibus Wallets are used for deposits and withdrawals. The Hot Wallet is separated from the Warm and Cold Wallets described below. As soon as the Hot Wallet reaches a certain threshold of crypto assets, crypto assets are automatically deposited in the Warm Wallet.
12.1.9.2 Warm Wallets. The Warm Omnibus Wallets are designed for medium-term use and serve as intermediaries between the Hot and Cold Omnibus Wallets. As soon as a certain threshold for crypto assets is reached, crypto assets are automatically deposited in the Hot or Cold Omnibus Wallets, respectively.
12.1.9.3 Cold Wallets. The Cold Omnibus Wallets are the wallets for large quantities of crypto assets and are often referred to as "Offline Wallets". The Cold Omnibus Wallets have restrictive access management mechanisms. As soon as a certain threshold for crypto assets in the Warm or Hot Wallet is reached, they are automatically deposited in these wallets.
12.2 Return of Crypto Assets. The Customer may request the return of the crypto assets custodied on the Platform at any time and Cryptonow shall promptly execute the Crypto Withdrawal, except in the cases described in Section 11.5. For crypto assets that fall under the special case Paper Wallet described in Section 11.11, the modalities described in Section 11.11 shall apply.
12.3 Authentication. The Customer may use the services of Cryptonow only after successful customer authentication.
12.4 Security Systems. Cryptonow employs the security systems described in Section 13 for the provision of custody and management services.
12.5 Costs and Fees. Fees may be charged for the provision of Management and Custody Services. The fees can be viewed here: https://www.cryptonow.net/en/how-we-make-money.
12.6 Liability. As the owner of the crypto assets, the Customer bears the entire risk of loss (in actual, legal, or economic terms) of these crypto assets, in particular each of the risks mentioned in Annex III. Any potential liability of Cryptonow arising from or in connection with custody services is limited in accordance with Section 24 of these GTC.
13 Security Systems
13.1 Cybersecurity Measures. Cryptonow employs advanced cybersecurity measures, including firewalls, encryption, and redundant server architectures, to minimize the risks of cyber threats.
13.2 Multi-Signature. The infrastructure on the Platform is secured through the use of role-based access controls for authorized personnel of Cryptonow, which require multiple private keys for the authorization of transactions. This eliminates single points of failure and improves protection against unauthorized transactions.
13.3 Ongoing Risk Assessments. Cryptonow regularly conducts security audits, access management reviews, and cryptographic evaluations to identify, analyze, and map potential threats to its crypto asset services.
13.4 Monitoring and Reconciliation. To ensure the operational integrity of all required systems, Cryptonow employs continuous monitoring levels as well as regular compliance checks. This also requires regular manual system checks and account reconciliation tests.
13.5 Key Management and Backup. The private keys of the wallets are secured using an encrypted and fragmented storage infrastructure. These backups are distributed across multiple geographically separated, tamper-proof locations to ensure that the keys remain accessible in the event of a failure of the primary system.
13.6 Emergency Recovery Procedures. A detailed emergency recovery plan is maintained, covering scenarios such as cyber incidents, hardware failures, and natural disasters. This plan includes predefined procedures for restoring operational capability and resuming transaction processing with minimal interruption.
13.7 Response to Security Incidents. Cryptonow has established a comprehensive response plan for security incidents to quickly and effectively address potential security breaches and other incidents. Cryptonow tests these plans regularly.
13.8 Customer Notification Mechanism. Customers shall be informed as quickly as possible in the event of a security incident affecting their crypto assets. Cryptonow provides Customers with mechanisms for rapid response to deactivate compromised Customer Accounts. In addition, Cryptonow offers its Customers security measures such as multi-factor authentication to increase account security.
13.9 Audit. Regular audits are conducted to confirm the accuracy of all records regarding the custodied assets and to establish the existence of all crypto assets within the Platform.
13.10 Risk-Based Audit. An annual risk-based internal audit plan is prepared to address the most important risks in a timely manner, including simulated phishing and penetration tests, among others. The plan is regularly reviewed to address emerging risks and changes.
14 De-Listing of Crypto Assets
14.1 Under certain circumstances, it may be necessary to de-list a previously available crypto asset from the Platform, meaning to remove it from the Platform and thereby terminate the possibility of purchasing, selling, exchanging, depositing, or withdrawing it on the Platform.
14.2 Customers who hold the affected crypto asset in their Customer Accounts shall be informed via the Platform and on a durable medium (e.g., email) of the planned de-listing.
14.3 This notification shall be provided at least 30 days prior to the de-listing and shall include the exact date of the de-listing as well as information on how the de-listing affects the ability to use the crypto asset via or on the Platform.
14.4 Cryptonow may in some cases be unable to comply with the announcement period if legal or regulatory requirements or significant security or liquidity issues require immediate de-listing or a shorter announcement period for the de-listing.
14.5 At the planned time of the de-listing, the possibility of purchasing, selling, exchanging, depositing, or withdrawing the crypto asset shall be deactivated. If the Customer still has such a crypto asset in his Customer Account after the de-listing, he must contact customer service to obtain support for its realization.
15 Ordinary Termination
15.1 Termination Rights of the Customer. The Customer may terminate the Customer Account and all other transactions and business relationships subject to a notice period of two weeks. The right of the Customer to terminate free of charge due to a change in the GTC remains unaffected hereby. In addition, Cryptonow may, at its sole discretion, accept an ordinary termination without observance of a notice period (e.g., in the event of withdrawal of all assets and deletion of the Customer Account by the Customer).
15.2 Termination Right of Cryptonow. Cryptonow may terminate the business relationships with the Customer at any time subject to a notice period of two months. The termination must be declared to the Customer in paper form or on another durable medium.
16 Extraordinary Termination / Blocking and Suspension of Transactions, Transfer Services, and Gift Cards
16.1 Termination for Good Cause. Cryptonow or the Customer may terminate the entire business relationship or individual parts thereof at any time without observance of a notice period with immediate effect for good cause.
16.2 Verification of the Existence of a Cause. If the existence of one of the causes listed in this Section is suspected, Cryptonow shall conduct an objective and factual review to determine whether the suspicions are justified. The Customer Account or one of its functions may be temporarily or permanently blocked, frozen, or suspended in the interim. If it turns out that the suspicion is justified, Cryptonow shall be entitled to terminate the business relationship with the Customer with immediate effect and to close the Customer Account without further notice for good cause.
16.3 Causes. Cryptonow shall be entitled to extraordinarily terminate the business relationship with immediate effect if causes exist that make the continuation of the business relationship unreasonable. These causes exist in particular, but not exclusively, if:
16.3.1 Cryptonow reasonably assumes that a Customer has been convicted or charged with a violation of criminal, administrative, or tax laws in any country in the world (including reasonably documented media reports or market rumors).
16.3.2 Official investigations (by a competent authority, in particular by public prosecutors or financial or tax authorities) have been initiated or threatened against the Customer for a violation of relevant criminal, administrative, or tax laws in any country in the world.
16.3.3 Cryptonow undertakes this to (i) comply with applicable laws or regulations (in particular for combating money laundering), (ii) internal policies based on such laws or regulations, (iii) orders or requests of a court or other authority, or (iv) applicable sanctions lists.
16.3.4 A Customer has violated one of his obligations under the GTC that is not otherwise listed in this Section and has not remedied this violation within 10 business days after notification by Cryptonow.
16.3.5 A Customer repeatedly makes erroneous attempts to activate the gift card (e.g., by incorrect entry of the ID, the activation PIN, or by using a non-activated gift card).
16.3.6 A Customer attempts to resell the gift cards commercially.
16.3.7 A Customer harasses an employee, representative, or affiliated company of Cryptonow or behaves towards them in an obscene, offensive, or abusive manner.
16.3.8 A Customer uses a Customer Account without being legally entitled to use such a Customer Account.
16.3.9 A Customer conceals his correct identity or the origin of funds by providing Cryptonow or a payment service provider with false, incomplete, outdated, or misleading data.
16.3.10 A Customer manipulates the Platform. Such manipulation includes in particular the use of an automated system (e.g., a bot) or another tool or method that deviates from the normal and typical trading behavior of retail investors and indicates the use of a particular technology, software, and/or system for automating trading, unless such use has been previously agreed in writing with Cryptonow.
16.3.11 A Customer uses the Platform in a manner that leads to chargebacks of debit or credit cards.
16.3.12 A Customer conducts business in a manner or uses the Platform in such a way that Cryptonow thereby suffers damages, disadvantages, or losses and/or a service is impaired.
16.3.13 A Customer loses legal capacity. The Customer Account and all transactions may be suspended until it is clarified who may dispose of the assets in accordance with applicable laws.
16.3.14 A Customer dies. As soon as Cryptonow has been notified of the death of a Customer and has received sufficient proof of death, the Customer Account shall be suspended and blocked for security reasons until the succession is determined by a court competent for the estate of the deceased Customer. The necessary steps shall be communicated to the designated executor or the heir(s).
16.4 Notification of Extraordinary Termination. In the event of extraordinary termination by Cryptonow, Cryptonow shall notify the Customer of such termination by email, unless such notification would be unlawful. Cryptonow is not obligated to disclose to the Customer any findings or information obtained in the context of security and risk management procedures.
16.5 Temporary Measures. Cryptonow may block the provision of certain services to the Customer (e.g., close, block, freeze, or suspend the Customer Account, restrict or not execute transactions and Transfer Services, temporarily or permanently refuse gift card exchanges, block gift cards, etc.) if
16.5.1 the data in the customer profile is incomplete, not up to date, or not verified;
16.5.2 Cryptonow requests additional information due to enhanced due diligence for the prevention of money laundering and terrorist financing;
16.5.3 the Customer does not provide the additional information requested by Cryptonow within the set deadline; or
16.5.4 this is necessary for compelling legal reasons.
16.6 Lifting of the Suspension. In the event that the Customer Account is blocked or access is suspended, Cryptonow shall lift the blocking or freezing or execute the transaction as soon as the stated reasons no longer exist. However, Cryptonow is not obligated to permit the Customer to conduct a transaction on the same terms as the suspended, reversed, or canceled transaction.
16.7 Attachment of a Customer's Assets. If a Customer's assets are attached, Cryptonow may be compelled, in accordance with the instructions of the court, the administrator, or the authorized person, to dispose of the Customer's assets and/or restrict access to the Customer Account.
17 Withdrawal, Sale, and Judicial Deposit of Assets
17.1 Withdrawal of Assets. After termination of the business relationship, regardless of whether the termination is effected by Cryptonow or the Customer, the Customer is obligated to withdraw all assets no later than the expiry of the notice period. If the business relationship is extraordinarily terminated in accordance with these GTC, there is no notice period, and the Customer must withdraw the assets immediately, unless the credits cannot be withdrawn due to applicable provisions (e.g., compliance with sanctions, court orders, etc.). The Customer shall be informed by email that he must close all open offers and withdraw the assets from the Customer Account. Every withdrawal is subject to the prior full settlement of all outstanding claims.
17.2 Sale and Judicial Deposit. If crypto assets or Fiat Money remain in the Customer Account after expiry of the notice period, Cryptonow shall request the Customer to withdraw them within one month after the end of the notice period. Such a sale or transfer of assets after termination of the business relationship must be approved by the Compliance Department. After expiry of the transitional period and after prior written information to the Customer, Cryptonow may:
17.2.1 sell the remaining crypto assets at the prevailing market price on the Platform and credit the sale proceeds (after deduction of all fees incurred in connection with the sale) to the Customer Account;
17.2.2 transfer the sale proceeds or existing Fiat Money to the deposited Customer Bank Account; and/or
17.2.3 deposit the remaining assets at court at the Customer's expense. The Customer shall be informed of such a deposit.
For clarification: Cryptonow assumes no liability for lost profits resulting from such a sale/deposit.
17.3 Fee. Currently, the use of the Platform is free of charge for Customers. However, if a person is no longer a Customer and refuses to transfer the crypto assets or Fiat Money within 14 days after termination of the business relationship, Cryptonow may charge a fee of 2% of the deposited amount per month for the further use of the Platform. This fee may be paid exclusively in Fiat Money.
The balance of the Customer Account cannot become negative. If the processing fee would result in less than EUR 0.00 being available on the Customer Account, only the remaining amount shall be deducted.
18 Fork Policy
Cryptonow applies the Fork Principles attached in Annex III.
19 Right of Withdrawal
The Customer has no right of withdrawal for crypto assets acquired at a distance, as the price of the crypto assets depends on fluctuations in the financial market over which Cryptonow has no influence and which may occur within the withdrawal period.
20 Customer Default, Reminder Fees
20.1 A Customer falls into payment default if he does not pay an amount owed to Cryptonow at maturity. This is the case in particular if:
20.1.1 a payment of Fiat Money is not credited to Cryptonow's bank account at the time the contract was concluded (e.g., purchase agreement for a crypto asset). In the case of payment by bank transfer, it is sufficient if the transfer order is issued on the day of contract conclusion;
20.1.2 Cryptonow must satisfy legitimate claims of third parties on behalf of a Customer;
20.1.3 a debit via SEPA direct debit mandate is not fulfilled, a chargeback of debit cards or a chargeback of credit cards occurs; and/or
20.1.4 other fees (e.g., custody and administrative fees) are not paid.
20.2 Reminder Fees. In the event of a customer default caused by the Customer, Cryptonow may charge reminder fees that are in a reasonable proportion to the amount in default or the value of the transferred tokens, insofar as these fees are necessary to cover the reasonable costs of Cryptonow for the administration of the customer default and the enforcement of Cryptonow's rights. At least EUR 5.00 and at most EUR 25.00 shall be charged as reminder fees. This minimum fee rule shall not apply if the Customer proves that no damage has occurred and therefore no or lower administrative costs or costs for the enforcement of Cryptonow's rights have been incurred.
21 Set-Off
Cryptonow is entitled at any time to set off due and unpaid monetary claims that Cryptonow has against Customers against due and unpaid monetary claims that the Customer has against Cryptonow.
22 Data Protection
The services of Cryptonow are provided in accordance with the data protection provisions at https://www.cryptonow.net/en/privacy-policy.
23 Warranty/Liability for Defects
23.1 The statutory warranty for defects under Austrian law applies to the Platform.
23.2 Technology-based systems such as the Platform require (planned and unplanned) interruptions for maintenance and development work. During such interruptions, the use of the Platform may be restricted or completely suspended, making the purchase, sale, or transfer of crypto assets temporarily impossible.
23.3 Interruptions do not constitute a defect under Austrian law if the interruptions are caused by:
23.3.1 Planned maintenance work, updates, or upgrades that do not only temporarily restrict the functionality of the Platform or lead to a failure, if they are notified to the Customer in an appropriate manner (e.g., by email) with reasonable advance notice. Such maintenance work shall be completed as quickly as possible, but no later than within one week.
23.3.2 Unplanned maintenance work that is necessary due to technical defects, regulatory requirements, or unforeseen and uncontrollable events. This work shall be carried out as quickly as possible. These interruptions may occur, among others, in the following cases:
23.3.2.1 In the event of technical or infrastructural problems outside the control of Cryptonow, such as server failures, cybersecurity threats, or network failures;
23.3.2.2 If liquidity providers of Cryptonow cease trading;
23.3.2.3 In the event of unavailability of reliable market prices for a specific crypto asset or a series of crypto assets;
23.3.2.4 If the FMA or another competent authority requires the cessation of trading in one or more crypto assets on the basis of its regulatory mandate; and/or
23.3.2.5 In the event of force majeure (e.g., events such as natural disasters), regulatory changes, or other unforeseen circumstances that disrupt normal operations.
24 Limitation of Liability
24.1 Cryptonow shall in principle be liable only for damages caused intentionally or through gross negligence by Cryptonow or one of its vicarious agents. In cases where damages are caused by slight negligence, Cryptonow shall be liable only:
24.1.1 in cases of personal injury;
24.1.2 for damages to items accepted for processing, unless otherwise agreed in detail;
24.1.3 for damages due to the absence of guaranteed characteristics;
24.1.4 under the Product Liability Act; and
24.1.5 for damages due to the breach of an essential contractual obligation (cardinal obligation), if the damage was reasonably foreseeable for Cryptonow at the time of contract conclusion. A cardinal obligation is an obligation that first enables the proper performance of the contract and on whose compliance the Customer regularly relies and may rely.
24.2 Liability for the Custody of Crypto Assets. Cryptonow shall be liable to its Customers for losses of crypto assets or the means of access to these crypto assets suffered as a result of incidents that are explicitly attributable to Cryptonow. Cryptonow's liability is limited to the market value of the lost crypto assets at the time of the loss.
Incidents not attributable to Cryptonow include all events where Cryptonow proves that they occurred independently of the provision of the relevant service or of Cryptonow's activities, such as a problem associated with the operation of the Distributed Ledger or third-party service providers over which Cryptonow has no control.
24.3 Exclusion of Claims for Damages Pursuant to FM-GwG. Claims for damages may not be asserted by a Customer based on the circumstance that Cryptonow, in negligent ignorance that the suspicion of money laundering or terrorist financing or the suspicion of acting contrary to the obligations described in Section 3.5 (Acting in Own Name) was false, executed a transaction late or not at all, pursuant to § 19 FM-GwG.
24.4 Risks. The use of the Platform as well as the execution of certain transactions are associated with risks that are outside the sphere of influence and control of Cryptonow. To the extent permitted by law, Cryptonow assumes no liability therefor. A non-exhaustive presentation of material risks is available at the following link: Cryptonow Risk Disclosures. The Customer expressly confirms that he has read and understood these risk disclosures and agrees to them.
25 Tax Requirements
Cryptonow may be obligated to withhold and remit taxes on behalf of the Customer from income received or transactions executed on the Customer Account. The applicable tax rates and the calculation method shall be determined in accordance with the laws, regulations, and administrative practices applicable at the time a taxable event occurs.
The Customer should consult a tax advisor (i) to inform himself of the tax and economic consequences in connection with the use of the Platform and the holding or transferring of crypto assets and (ii) to ensure that the Customer is able to take all necessary steps to comply with all applicable tax laws.
The tax consequences often depend on the tax laws of the country in which the Customer is tax resident. If Cryptonow is not legally obligated to withhold taxes and/or such withholding does not constitute final taxation under the applicable tax laws, the Customer is solely responsible for complying with all national and international tax laws.
The Customer is obligated to provide Cryptonow in a timely and complete manner with all necessary information and documents to facilitate the accurate calculation and withholding of taxes. This includes, among others, the status of tax residence or information on exit taxation.
26 Miscellaneous Provisions
26.1 Disclosure of Data to Authorities. Cryptonow may disclose all data relating to Customers, gift cards, and Customer Accounts (including all transactions made in connection therewith in the past) if required or requested by a competent court or a governmental, banking, tax, or other supervisory authority or a similar official body (e.g., in connection with criminal investigations). Cryptonow reserves the right to cooperate with such authorities to the greatest possible extent.
26.2 No Waiver of Rights. The failure of Cryptonow, at any time or for any period, to enforce or exercise a provision of the GTC or a right or remedy arising from the GTC shall not constitute a waiver of such right or remedy and shall not be construed as such and shall in no way affect Cryptonow's right to enforce or exercise it at a later time, provided that such right is not time-barred, expired, or otherwise excluded.
26.3 The GTC shall continue to apply after termination of the business relationship until complete settlement.
26.4 Contract Language. The GTC are prepared and published in several languages. In the event of a dispute and in the case of deviations, the German version of the GTC shall prevail.
26.5 Competent Authority. The national competent authority responsible for the supervision of Cryptonow as a provider of crypto asset services is the Austrian Financial Market Authority (FMA).
27 Changes to the GTC
27.1 Material changes to these GTC, including this subsection, require the express consent of the Customer.
27.2 Material changes are all modifications or additions that (i) concern a main performance obligation or (ii) fundamentally change the contractual relationship in a way that is equivalent to the conclusion of a new contract. Examples thereof, without being limited thereto, are all changes or additions to the Customer's payment obligations, restrictions on the Customer with respect to the acquisition and sale of financial instruments, or restrictions on the obligation to custody, manage, or secure crypto assets or cryptographic private keys for the Customer on the Platform.
27.3 Changes to the GTC that do not constitute material changes or are considered editorial changes may be made and put into effect at any time at the reasonable discretion of Cryptonow.
27.4 If no specific effective date is specified, these changes shall take effect on the earlier of the following two dates: (i) upon express acceptance of the amended GTC by the Customer (e.g., via the Platform) or (ii) after expiry of two months from transmission of the GTC to a durable medium of the Customer, provided the Customer has not objected.
27.5 If a specific effective date is specified that is after the publication date, the changes shall take effect on the later of the following two dates: (i) the specified effective date or (ii) the earlier of the following two dates: (a) express acceptance of the amended GTC by the Customer (e.g., via the Platform) or (b) expiry of two months after transmission of the GTC to a durable medium of the Customer, provided the Customer has not objected.
27.6 The Customer's consent to changes shall be deemed granted if the Customer does not object in writing or electronically (e.g., by email or via the Customer Account). The Customer shall be informed in the change offer that (i) his silence by omitting a written or electronic objection (e.g., by email) within the periods mentioned in Sections 27.4 and 27.5 shall be deemed consent to the changes, and (ii) the Cryptonow consumer customer has the right to terminate his contract and the contractually agreed services without notice until the changes take effect.
28 Applicable Law
28.1 The GTC and every transaction falling thereunder shall be subject to the law of the Republic of Austria, excluding the provisions of the United Nations Convention on Contracts for the International Sale of Goods and excluding the conflict-of-law referral and/or renvoi norms of Austrian international private law.
28.2 This shall apply only insofar as the law of the Customer's country of residence does not grant him a more favorable legal position vis-à-vis Cryptonow in the individual case.
Annex I – Deviating Provisions for Gift Cards by Country of Residence
[Jurisdiction:]
Annex III – Cryptonow Fork Policy
1.0 A Fork denotes the circumstance in which a blockchain temporarily or permanently splits into two separate chains ("Fork"). A Fork may have effects on the crypto assets custodied at Cryptonow.
1.1 Cryptonow reserves the right to evaluate each Fork individually and to decide at its sole discretion whether to support the Fork and whether to inform the Customer of this decision or not.
1.2 Cryptonow does not automatically support Forks of crypto assets. Cryptonow may permit or deny the Customer participation in such a Fork. Cryptonow shall inform its Customers in advance in a timely manner whether Customers can participate in a Fork via the Platform.
1.3 If Cryptonow decides not to support a Fork and the Customer wishes to participate in this Fork, it is incumbent upon him to transfer the affected crypto assets to a wallet of a third-party provider that, in his assessment, enables participation in the Fork.
1.4 It is the responsibility of the Customer to independently monitor the market and inform himself about upcoming Forks. Cryptonow is not obligated to notify Customers about Forks.
1.5 Cryptonow reserves the right to suspend or temporarily close any transaction of crypto assets that are affected by a Fork or are significantly influenced by a Fork. This provision applies both to Forks supported by Cryptonow and to those not supported.
If Cryptonow decides to support a Fork, it is at Cryptonow's discretion to determine which chain is to be regarded as the original blockchain. Cryptonow shall inform the Customers of corresponding decisions and shall endeavor to integrate the new crypto assets resulting from the Fork into the Platform. However, Cryptonow assumes no guarantee for such integration and shall inform the Customer when, how, and in what ratio the new crypto assets resulting from the Fork can be used within the Platform. In the meantime, Cryptonow holds these new crypto assets in so-called "cold storage" (offline) for the Customer until a decision on live activation in the system is made. There is no possibility to withdraw or transfer such new crypto assets before live activation. Cryptonow reserves the right to refrain from integrating the new crypto assets for economic reasons. Cryptonow shall always endeavor to enable integration of new crypto assets, but assumes no guarantee that such integration can be successfully carried out or occurs at a specific time.
Version 1.0, dated 01.02.2026