ATTENTION: PLEASE READ THESE TERMS CAREFULLY BEFORE USING THE WEBSITE. BY ACCESSING, BROWSING, OR REGISTERING TO USE OUR WEBSITE YOU AGREE TO BE BOUND BY THESE TERMS. IF YOU DO NOT AGREE TO BE BOUND BY THESE TERMS, PLEASE DO NOT ACCESS OR USE THE SERVICES.
To be eligible to use any of the Services, you must be at least 18 years old and reside in a country in which the Services are accessible.
You are not allowed to use the Services if you are located in, or a citizen or resident of any state, country, territory or other jurisdiction where your use of the Services would be illegal or otherwise violate any applicable laws. You represent and warrant that you are not a citizen or resident of any such jurisdiction and that you will not use any Services while located in any such jurisdiction. You also may not use the Services if you are located in, or a citizen or resident of, any other jurisdiction where Alfacash Store has determined to prohibit the use of the Services.
We may not make all of the Services available in all markets and jurisdictions, and may restrict or prohibit the use of all or a portion of the Services from Restricted locations listed at the Website. The availability of certain locations may change from time to time and without notice due to regulatory requirements, conditions in jurisdiction or circumstances otherwise beyond our control. Always check our Website for a list of currently prohibited locations.
We are not responsible for any losses or damages that may arise directly or indirectly from bans or restrictions imposed on the virtual currency by your local government. You agree that in the course of using our Services and/or interactions with Alfacash Store you will not violate any law, infringe any copyright or patent of any kind, act in a defamatory or threatening manner, and/or attempt to take any action that may harm our interests directly or indirectly through abuse of our Services or the Website.
If you do not meet these eligibility requirements, do not use our Services.
2. Description of Services
Our Services enable you to obtain prices for your purchases and sales of virtual currencies, and carry out any such purchases or sales on the Website. Our Services are available only in connection with those virtual currencies that we support, and this may change from time to time. The purchase or sale order is submitted by filling in all the fields in the dialogue box and by crediting us with virtual currencies or fiat (e.g. Euro) currencies. You cannot submit an order unless you register a Personal account and complete all verifications steps. By clicking respective buttons on the Website, you authorize Alfacash Store to initiate the transaction at the quoted order and agree to the exchange rate. You acknowledge and agree that the exchange rate information made available on the Website is an estimation only and may differ from the exchange rate applicable at the time of order completion. If your monthly or transaction limits might be exceeded after completion of the order (see “Use of the Personal account section), we reserve the right to decline the excessive credited amount either in virtual currencies or fiat. Each purchase or sale of virtual currency is subject to additional network and service fees (either included or charged on top of transaction amount). The applicable fee will be displayed to you on the Website prior to each transaction and is stated in each receipt we issue to you.
3. Risk disclosure
We warn you about the risks of virtual currencies trading. By using the Services provided by us you acknowledge and accept any risks associated with the transactions, agree to be bound by the Terms, and acknowledge and accept the following and any other risks.
Exchange rates have exhibited strong volatility, and extreme swings in price may occur at any time, resulting in potential loss of purchasing power. Virtual currencies trading may not be suitable for all investors. If you have any concerns, please obtain advice from a qualified financial advisor.
Any data, prices, news, opinions, researches, analyses and/or any other information contained on the Website is provided as general market commentary, and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
The content on the Website is subject to change at any time without notice, and is provided for the sole purpose of assisting you to make independent decisions. We do not guarantee the accuracy or timeliness of the information on the Website and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the Website, for any delay in or failure of the transmission or receipt of any instruction or notifications sent through the Website.
We inform you that past performance does not guarantee you future success so you need to consider a number of factors to build up a strong investment strategy. Before starting to use our Services, please consider your financial position. Please be rational and do not invest money you cannot afford to lose. You should be aware that no refund or reimbursement is possible, and no private or public insurance company will indemnify you for losses.
Taxation of virtual currencies has very limited or no regulation by governmental and tax agencies in most jurisdictions. You may be subject to certain tax implications when buying or selling virtual currencies.
It is your responsibility to determine what taxes apply to the transactions and accounts you utilize as a part of the Services, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. We are not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction. You warrant that you are acting legally in accordance with any applicable international, federal, state or local tax laws or regulations.
We encourage you to frequently review and rely on guidance issued by competent authorities for taxpayers who engage in transactions involving virtual currencies. For tax purposes, exchange of virtual currency may be treated as supply of service, sale of property or exchange of foreign currency. General tax principles applicable to these types of operations may apply to transactions using virtual currency.
5. Use of the Personal account
In order to grant access to the Standard Account, the Company requests the following information including, but not limited to:
- name proven with a photocopy of official government ID document or digital ID document, e.g. (1) personal ID card, e-resident card, residence permit card, (2) national passport or (3) driving license that meets requirements of the Identity Documents Act;
- email address;
Access to the Premium Account could be granted to the following categories of customers:
- Estonian citizens (without need to submit any other documents and information as described below);
- EU/EEA nationals or residents whose total sum of outgoing payments exceeds 15,000 EUR per month;
- Non-EEA nationals or residents.
In order to verify a Premium Personal Account, the Company in addition to documents and information required for the standard personal account requests:
- residential address proven with a photocopy of the following documents, e.g. (1) bank statement (2) utility bill (3) tax bill (4) other government issued residential statements or certificates).
- identification with the use of information technology means in accordance with applicable Estonian regulations, including real-time video interview, identification questionnaire, a working camera, microphone, the hardware and software required for digital identification and an Internet connection of adequate quality.
The Company does not accept and process any of the following documents (1) checks, (2) envelopes with the address as a confirmation of your address of residence, (3) stickers with the address on the parcels as a confirmation of your address of residence, (4) mobile phone bills, (5) insurance documents, (6) medical prescriptions, recipes, invoices and other documents, (7) prepaid card invoices, (8) mobile SIM cards.
After completing documents verification, you might be asked to confirm the payment method (the ownership of the bank card/online wallet). You will be asked to take a picture of a bank card or a picture of a crypto wallet or online bank account (with the name visible on it). In some cases, instead of the picture, you may be asked to enter the details of your payment method or pass liveness verification. In order to access SEPA bank transfer funding (deposits and withdrawals), your bank account needs to meet the following requirements: (1) must be under the same name as the personal account, (2) located in the SEPA zone (3) be able to send and receive SEPA transfers.
The use of the Services is subject to a limit on the volume, stated in EUR or other fiat currency or virtual currency, you may transact or transfer in a given period (e.g. monthly). The maximum limit for transactions (outgoing payments) with Standard Personal Account is 15,000 EUR per month. Transaction limits may vary depending on your payment method, verification steps you have completed, and other factors. The Company reserves the right to change applicable limits as it deems necessary.
You represent and warrant that all information provided to us pursuant to these Terms is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible. You acknowledge that in order to conduct the above-mentioned verification procedures, we may perform inquiries, directly or indirectly through third party service providers to prevent misidentification, fraud, suspicious activity, money laundering or any other forbidden activity. You hereby authorize us, or a third-party service provider, to take any measures that we consider necessary to verify and authenticate your identity, confirm the information you submit about your bank (or other financial institution) account, and to take any action we deem necessary based on the results.
You are solely responsible for keeping, protecting and safeguarding your password and username (login) that have been provided to you or that are generated in connection with your use of the Services. If you lose your password and username (login), you may not be able to access your account. You agree to notify us immediately of any unauthorized use of your Personal account. We will not be responsible for any liabilities, losses, or damages arising out of the unauthorized use of your Personal account.
Creation of the Personal account on the Website is not required to get access to information about exchange rates, statistics and legal notices published on the Website. If we hold fiat or virtual currency, and we are unable to contact you and have no record of your use of the Services for several years, applicable law may require us to report these funds as unclaimed property to the authorities in certain jurisdictions. We reserve the right to deduct a dormancy fee or other service charges from such unclaimed funds, as permitted by applicable law.
6. Anti-money laundering requirements
We take all appropriate due diligence measures (enhanced due diligence measures) and implement best standards to comply with Estonian Money Laundering and Terrorist Financing Prevention Act (hereinafter the “MLTFPA”), Estonian International Sanctions Act (hereinafter the “ISA”), Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (hereinafter the “AMLD5”), Financial Action Task Force (hereinafter “FATF”) Guidance for a risk-based approach to virtual Assets and virtual assets service providers and other regulatory acts of Estonia.
We will make reasonable efforts to detect and prevent people engaged in any criminal activity in any jurisdiction from using our Services. Detailed procedures, tests and principles are properly documented and specified in our AML Policy (“Rules of procedure for prevention of money laundering and terrorist financing and compliance with international sanctions”).
We are further required to obtain and record information and documentation that helps to confirm your identity or provides additional information regarding your use of the Services. If we cannot confirm this information, we may require additional documents to verify your identity. We may ask for this information at any time before, during or after your use of the Services.
We also may request information from you as a result of our name screening processes, for investigative purposes related to you or to another user, or as a randomly sampled test of the accuracy of our processes. In the latter case, we may require documentation from you at no fault, and ask you to furnish it with or without a reason provided.
While we may delegate day-to-day operational duties to the third party service provider (i.e. for effective risk management in selected jurisdictions), the responsibilities for maintaining effective oversight and governance of outsourcing arrangements, managing outsourcing risks, and implementing an adequate outsourcing risk management framework, continue to rest with us and our management.
We inform you that due to the nature of virtual currencies all transactions are final and irrevocable.
Funds traded through the Alfacash Store are not eligible for a refund. Once you initiate a transaction with virtual currencies, we fix the exchange rate and process the transaction, so you cannot cancel it at any time. The transaction may only be offset at Alfacash Store current asking price.
In any case Alfacash Store will not be held responsible for your errors, including but is not limited to, errors in entering trade prices, errors in requested withdrawal addresses, errors in deposit transactions.
In exceptional cases, we may consider your refund request and decide at its own discretion. These exceptional cases are limited to serious payment delays, abnormal rate fluctuations or any guilty actions of third parties. Herewith, Alfacash Store may ask you to confirm or cancel the transaction if the exchange rate has changed significantly when the above mentioned force majeure took place. Please note that in such cases Alfacash Store will deduct all applicable costs and fees related to the refund.
Refund requests must be submitted within 5 working days of completing the original funding. Please submit a ticket to our support staff at the Website. All refund requests will be processed using the same payment method as the original funding.
We believe that it is our goal to secure information relating to your use of our Website and Personal account. As a result, we make reasonable efforts to maintain an information security management system; to control its information with strong controls; to continuously offer training to our personnel on information security; to prevent unauthorized access, leakage, modification, theft/loss, denial of service attacks, or any other security threat; to identify and limit the incidence of information security breaches; to proactively address laws and regulations in each jurisdiction in which we operate relating to information security standards and requirements.
You are responsible for keeping the electronic device through which you access our Services safe and maintaining adequate security and control of any and all security details that you use to access the Services. This includes taking all reasonable steps to avoid the loss, theft or misuse of such electronic devices and ensuring that such electronic devices are both encrypted and password protected. Any loss or compromise of your electronic device or your security details may result in unauthorised access to your Personal account by third-parties and the loss or theft of any funds available in your Personal account and any associated accounts, including your linked bank accounts and credit cards.
You should never allow remote access or share your computer screen with someone else when you are logged on to your Personal account. We will never under any circumstances ask you for your IDs, passwords, or authentication codes or to screen share or otherwise seek to access your computer or account. We assume no responsibility for any loss that you may sustain due to compromise of account login credentials.
We reserve the right to close your Personal account, access to the Website, or access to the Services for any reason and at any time, returning to you any funds clearly and unambiguously owed to the most recent contact information you have provided. You shall indemnify Alfacash Store and our agents (if any), employees, officers, directors, affiliates, subsidiaries and successors, and hold them harmless from and against all third-party claims except those resulting solely from our breach of the Terms.
Our total aggregate liability to you for any individual claim or series of connected claims for losses, costs, liabilities or expenses which you may suffer arising out of, or in connection with, any breach by us of these Terms shall be limited to a maximum aggregate value of our service fees paid at the time of the relevant claim.
We shall not be liable for any delay or failure in the performance or in the delivery or shipment of digital assets, or for any damages suffered by you by reason of such delay or failures, directly or indirectly caused by or in any manner arising from or connected with acts of God, acts of public enemies, riots, strikes, acts of governmental agencies, labor difficulties, failure of our power, telecommunications or other suppliers, delays in securing or shortages of raw materials, breakdown or destruction of any system or equipment or any other cause or causes beyond our control of any kind.
10. Personal data
11. Intellectual property
We grant you a limited, nonexclusive, non transferable license, subject to these Terms, to access and use the Website and Services, solely for approved purposes as permitted by us. You agree you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of our materials. Access to the Website is provided on an "as is" and "as available" basis, with no further promises made by us around availability of the Services. Specifically, we do not give any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement. We do not make any promises that access to the Website, any of the Services, or any of the materials contained therein, will be continuous, uninterrupted, timely, or error-free.
12. Governing law and dispute resolution
You agree that Estonian laws, excluding conflict of laws provisions, will govern these Terms and all matters arising out of this document. The parties expressly agree to venue in courts located in Estonia and waive any objection based on personal jurisdiction.
You guarantee that you are not subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”); no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving you with respect to U.S. sanctions administered by OFAC is pending or, to your knowledge, threatened; and you have not directly or indirectly lent, contributed or otherwise made available funds to any party, joint venture partner or other person or entity, for the purpose of financing the activities of any person that would, if undertaken by a U.S. person as defined in the U.S. sanctions administered by OFAC, be prohibited by any U.S. sanctions administered by OFAC.
14. Prohibited jurisdictions
You confirm that you are not a national or resident of the following prohibited jurisdictions: Afghanistan, Algeria, Bahrain, Bangladesh, Bolivia, Cambodia, Central African Republic, Egypt, Indonesia, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Malaysia, Mali, Mauritania, Morocco, Nepal, Nigeria, North Korea, Oman, Pakistan, Palestinian Territory, Qatar, Saudi Arabia, Somalia, Sri Lanka, Sudan, Syria, Tunisia, Turkey, United Arab Emirates, Yemen.
We maintain the right to restrict or refuse our Services in these jurisdictions.
15. Changes to the Terms
We may modify these Terms by providing notice of such changes, such as by sending you an email, providing notice through the Services, or updating the "Last updated" date at the top of these Terms. By clicking on an "I Agree" button or checkbox presented with the modified Terms, or by continuing to access or use Services, you confirm your agreement to the modified Terms. If you do not agree to any modification to these Terms, you must stop using the Services. We encourage you to frequently review the Terms to ensure you understand the terms and conditions that apply to your use of the Services.
16. Final provisions
The Terms and any legal relationship arising out of this document shall be governed by and construed in accordance with Estonian laws. You agree to settle all their disputes arising out of or in connection with the Terms in accordance with Estonian laws.
The invalidity or unenforceability of any provision of the Terms shall not affect the validity or enforceability of any other provision of the Terms, which shall remain in full force and effect.
Our failure to exercise any right arising out of a violation of the Terms committed by you shall not operate as a waiver. We reserve the right to resort to any remedy at any time to protect its interests and intellectual rights to the protected elements of the Website.