Legal

    Terms & Conditions - Bitpanda

    Version 3.0.0, valid as of March 14, 2019

    1. General Provisions

    1.1

    The general terms and conditions herein ("GTC") exclusively apply to any and all transactions, contracts and any all business relationships with Bitpanda GmbH, with its corporate seat in A-1020 Vienna, Campus 2, Jakov-Lind-Straße 2 ("Bitpanda") in particular including transactions and business relationships with/on any online or electronic platform (e.g. https://www.bitpanda.com) and mobile application of Bitpanda ("Bitpanda Systems"). Bitpanda also offers services in cooperation with third parties, in particular with Bitpanda Metals GmbH. For services of such third-party providers their terms and conditions may apply in addition to these GTC.

    1.2

    Bitpanda offers services only to and enters into contracts only with persons of legal age.

    1.3

    For an overview of the definitions used in these GTC please refer to Annex II.

    2. Becoming a Bitpanda client

    2.1

    Persons interested in using Bitpanda Systems have to register themselves at a Bitpanda System by providing Bitpanda with valid and true information as required in the registration process. A person having successfully completed the registration process (which is confirmed by Bitpanda) is called "Bitpanda Client" and "you".

    2.2

    In order to use the trading options on a Bitpanda System you as a Bitpanda Client have to verify your account. Your trading limits depend on such verification level. The verification processes and requirements depend mainly on security requirements, in particular AML considerations, and may change from time to time depending on the legal framework.

    2.3

    You ensure that you hold any and all details of your password confidential and that you only act for yourself and have opened the account only for yourself. It is also forbidden to act as intermediary of any kind or broker of any kind or trustee of any kind for any person or to allow access of any kind to the account to any other person than yourself. As a preventive security measure, Bitpanda recommends that each Bitpanda Client uses the two factor authentication identification components ("2FA").

    2.4

    Persons having a US citizenship or being located in the United States may not become a Bitpanda Client according to regulatory reasons. Depending on the respective local regulatory framework Bitpanda may exclude other jurisdiction from Bitpanda's services as well.

    2.5

    When a password is reset, Bitpanda pauses any payment to and/or transfer of Tokens (as defined in item 3.1) to you or out of Bitpanda Systems for security reasons for a maximum period of 48 hours. You confirm that you are aware of this security measure and accept it.

    2.6

    You, as a Bitpanda Client, shall

    2.6.1

    ensure prompt execution of any contracts and shall refrain from activities which would thwart or endanger such execution.

    2.6.2

    immediately report all defects or other problems which you either cause or get aware of and shall assist Bitpanda to remedy the problem.

    2.6.3

    immediately update via a Bitpanda System or submit to Bitpanda via registered mail any changes of your personal data (name, mailing/postal address and email address). You are aware and accept that Bitpanda shall always use the last email address and last postal address which you shared with Bitpanda, and that any message delivered to such email or postal address shall be legally delivered.

    2.6.4

    at all times ensure that you have available and in usable condition your 2FA, if used by you. In case of loss of the 2FA, you must immediately inform Bitpanda about this loss and follow Bitpanda support team member's instructions. You acknowledge and accept that such instructions may be deferred depending on the utilization of Bitpanda support team and neither Bitpanda nor Bitpanda Metals GmbH is liable for any of your claims due to such delay. If you are not able to follow the instructions and comply with the security rules and requirements you will neither be able to access the relevant page nor your Bitpanda Client Account again and the Bitpanda Client's Account including any Token may not be and cannot be used until you can find/remember/regain the correct 2FA. You are aware and accept this "No Recover Policy" which is a major and important immanent part of a system dealing with cryptographic blockchain-based digital information units.

    2.7

    Bitpanda requires certain specified information from you in the process of becoming a Bitpanda Client. You are aware and accept herewith that Bitpanda may at Bitpanda's sole discretion decide at which point in time you must deliver copies of passports (in notarized and apostilled form or not) and any other documents required by law and/or as defined in Data Protection Terms; if being a legal entity copies of company register excerpts or equivalent documents (in notarized and apostilled form or not) and any other documents required by law or as defined in Data Protection Terms.

    3. Exchange

    3.1

    Bitpanda's group provides Bitpanda Systems for the exchange of (i) cryptographic blockchain-based digital information units, such as, but not limited to, Bitcoin, Dash, Ripple, Bitcoin Cash, Ether and Litecoin ("E-Token"), (ii) fiat token ("F-Token" together with E-Token referred to as "Token"), (iii) precious metals ("M-Token") or (iv) the sell and purchase of Token with a currency that is legal tender (gesetzlich anerkanntes Zahlungsmittel). The E-Tokens traded on Bitpanda Systems can be changed, amended or modified at any time and in the sole discretion of Bitpanda. The services with respect to M-Token are exclusively offered by Bitpanda Metals GmbH and not by Bitpanda itself.

    3.1.1

    Exchange (Tausch) and sale/purchase (Verkauf/Kauf) with Bitpanda is exclusively done in the following way: You offer bindingly to exchange, sell or buy (part of) Token(s) to Bitpanda. To make such binding offer you have to (i) correctly fill in all necessary, valid and correct data on Bitpanda's respective trading screen, and (ii) click/confirm either "Buy now" or "Sell now" button (item (ii) referred to as the "Final Offer Click"). The conditions offered by Bitpanda for your order are valid for one minute ("Price Guarantee") which is the maximum time to validate and confirm the conditions by the Final Offer Click. For the avoidance of doubt in this context the word "buy" is to be interpreted and qualified exclusively as "binding offer to accept the receipt of E-Token in exchange for the specified amount in a currency which is legal tender or F-Token" or "binding offer to accept the receipt of F-Token in exchange for the specified amount in a currency which is legal tender" and the word "sell" "is to be interpreted and qualified exclusively as "binding offer to accept the receipt of F-Token or the specified amount in a currency which is legal tender or the equivalent amount in form of Cooperation Vouchers (see item 6) in exchange for Token".

    3.1.2

    "Bitpanda Savings" with Bitpanda is exclusively done in the following way: You offer bindingly to purchase (part of) E-Token on a regular and recurring basis from Bitpanda ("Multiple Debit Order"). To make such binding offer you have to (i) correctly fill in all necessary, valid and correct data on Bitpanda's respective trading screen and (ii) click/confirm "Confirm now" button (item (ii) referred to as the "Final Offer Click Savings" together with the Final Offer Click the "Final Offer Clicks"). For the avoidance of doubt in this context "Confirm now" is to be interpreted and qualified exclusively as "binding offer to accept the receipt of E-Token on a regular and recurring basis in exchange for the specified amount in a currency which is legal tender".

    3.1.3

    A "Bitpanda Swap" with Bitpanda is exclusively done in the following way: You offer bindingly to exchange (part of) E-Tokens into another type of E-Token or (part of) F-Tokens into another type of F-Token. To make such binding offer you have to (i) correctly fill in all necessary, valid and correct data on Bitpanda's respective trading screen and (ii) click/confirm "Swap now" button (item (ii) referred to as the "Final Offer Click Swap" together with the Final Offer Click the "Final Offer Clicks"). For the avoidance of doubt in this context "swap now" is to be interpreted and qualified exclusively as "binding offer to accept the receipt of E-Token in exchange for the specified amount of another type of E-Token" or “binding offer to accept the receipt of F-Token in exchange for the specified amount of another type of F-Token".

    3.1.4

    The offers mentioned in item 3.1.1, 3.1.2 and 3.1.3 are herein referred together as "Bitpanda Client Offer". You are bound by a Bitpanda Client Offer for a period of one week after the respective Final Offer Click ("Offer Period"). Bitpanda confirms to you immediately after having received a Bitpanda Client Offer the receipt thereof.

    3.1.5

    After having received a Bitpanda Client Offer Bitpanda may or may not accept such offer by factual fulfilling of the offer (tatsächlicher Erfüllung des Angebots) at Bitpanda's sole discretion within the Offer Period (the "Contract Conclusion and Order Fulfillment Action" or "CCOFA"). For any payments in currency that is legal tender from and to you Bitpanda shall use a payment service provider. In case Bitpanda factual fulfilled the Bitpanda Client Offer without full receipt of the payment as agreed in the Bitpanda Client Offer, you are obliged to pay such outstanding amount ("Default in Payment"). In case of any Default in Payment the consequences as outlined in item 4.2 and 8.8 apply.

    3.2

    Any figures, numbers, exchange reference prices or other relevant publications by Bitpanda, either on relevant websites or mobile applications or in another way, are in no case offers, nor binding offers, nor guarantees for an exchange but always to be seen as invitations to you to provide offers for exchange to Bitpanda (invitation ad offerandum).

    3.3

    Bitpanda exclusively allows Bitpanda Clients to make exchange offers based on positive balances on the respective Bitpanda Client Account. Short selling, meaning an offer with respect to Token which are not booked as positive balance on the respective Bitpanda Client Account, is forbidden and blocked by the system. A Bitpanda Client Offer is technically limited with your positive balance of such offer and the limits pursuant to your verification level. Bitpanda reserves the right to further limit the range of a Bitpanda Client Offer at Bitpanda's sole discretion to certain specified limits per Bitpanda Client.

    3.4

    Delays in the processing of the Bitpanda Client Offers can occur due to unforeseen technical disruptions. Therefore, neither Bitpanda nor Bitpanda Metals GmbH does offer any guarantee of immediate offer processing nor assumes any liability related thereto, in particular not with respect to any changes of prices, valuations or other conditions with respect to any offered Tokens or services, except the Price Guarantee as outlined in item 3.1.1 of these GTC.

    3.5

    You are aware that there might be significant delays when shipping Token to your Bitpanda Account Wallet, since most Token are stored "cold", which means offline. Respectively additional non-automated handling might be necessary triggering such delays.

    4. Bitpanda Client account

    4.1

    Bitpanda Systems allow only one account per Bitpanda Client ("Bitpanda Client Account"). Double-accounts are strictly forbidden. Should another account (the "double-account") be created in addition to your first account (the "original-account"), the following applies: Bitpanda has the right to block and keep the double-account locked. Tokens which are stored on the double-account will be transferred by Bitpanda to the Bitpanda Client's original-account provided that the Bitpanda Client can proof (for example via the identification service used by Bitpanda) that they are the same person. In such cases, Bitpanda is authorised to charge an administrative fee of EUR 5.00 and if necessary deduct the fee from the transferred Token(s).

    4.2

    Bitpanda reserves the right to lock and/or freeze and/or close a Bitpanda Client Account (including the block (Blockierung) of a transaction, reverse (Rückabwicklung) of a transaction, hold (Aussetzung) of a transaction, rescission (Rücktritt) from a contract/transaction, the loss of any vouchers) immediately and without further notice to the Bitpanda Client, if

    4.2.1

    such Bitpanda Client has been accused of (including any reasonably documented media reports or market rumors on): fraud, terror financing, money laundering, tax fraud, or any other breach or violation of relevant criminal, administrative or tax laws in any country of the world, being part of a Ponzi scheme of any kind, using matrix programs/ pyramid programs/ multi-level marketing or other high risk business detrimental to customers of any kind (in particular if participating in a program as set forth under item 13.5); unlawful activity in any country of the world; forbidden gambling; intellectual property or proprietary rights infringement, counterfeit or unauthorized goods; using/distributing drugs and drug paraphernalia or substances designed to mimic illegal drugs; producing/distributing adult content and services; using unfair, predatory or deceptive practice via customers or persons; etc.

    4.2.2

    Bitpanda has been informed of official investigations (by any competent public authority, in particular but not limited to any public prosecutors in the field of criminal law or tax agents) against such Bitpanda Client with respect to fraud, terror financing, money laundering, tax fraud, or any breach or violation of relevant criminal, administrative or tax laws in any country of the world.

    4.2.3

    a Bitpanda Client has breached his obligations against Bitpanda under the GTC (e.g. any delayed payment) without curing such breach within 10 "Business Days".

    4.2.4

    a Bitpanda Client has breached any rules or regulations of a payments service provider.

    4.2.5

    a Bitpanda Client has breached any rules or regulations of Bitpanda Metals GmbH.

    4.2.6

    a Bitpanda Client has opened more than one account with Bitpanda.

    4.2.7

    a Bitpanda Client breaches the single payment service provider account rule (item 8.11) and uses together with another Bitpanda Client the same payment service provider account (e.g. bank account, Neteller account, etc) or use a third-party bank account, third-party credit cards etc.

    4.2.8

    a Bitpanda Client uses an account without legal entitlement to use such account.

    4.2.9

    a Bitpanda Client conceals the correct identity by providing incorrect data regarding the Bitpanda Client Account or an account with a payment service provider.

    4.2.10

    a Bitpanda Client materially breaches the payment rules, in particular but not limited to item 8.12, as set forth under the GTC causing significant efforts without curing the problems within 10 Business Days.

    4.2.11

    a Bitpanda Client materially breaches the rules of the Tell-a-Friend Program (set forth under item 13.5) and does not cure the breaches within a reasonable grace period (depending on the breach between 24 hours and 5 Business Days).

    4.2.12

    a Bitpanda Client manipulates Bitpanda Systems or any Bitpanda group's services. Such manipulation is in particular any use of an automated system (e.g. bot) or any other use which contradicts normal and typical trading behaviour of human beings and, hence, indicates the involvement of a certain technology, software and/or any system automating such trading, except such use has been previously agreed with Bitpanda.

    4.3

    If Bitpanda is engaged by you to remedy a declared and/or alleged deficiency and it is proven that no deficiency exists, existed or that the deficiency is or was in your sphere, Bitpanda is entitled to charge compensation for any resulting expense.

    4.4

    Bitpanda may charge – in addition to any damage claims which Bitpanda might have against such Bitpanda Client – for Bitpanda's additional efforts in connection with items 4.2. and 4.3 a processing fee of up to EUR 50.00 or any part of E-Token having the value of up to EUR 50.00 at the time of the measure set in accordance with item 4.2 and 4.3.

    4.5

    Bitpanda System uses its own token system (F-Token, E-Token and M-Token) which are booked in the respective storing sub-accounts (each a "Wallet") of the respective Bitpanda Client Account. Only F-Token, E-Token and M-Token booked in the respective Wallets in the Bitpanda Client Account may and can be used for making a Bitpanda Client Offer with respect to offering Tokens. The Wallet for F-Token is named "Fiat Wallet".

    4.6

    F-Tokens, which are exclusively offered by Bitpanda, are designated

    4.6.1

    for support and facilitation reasons as an extra service towards Bitpanda Clients, in particular to enable the Bitpanda Client to act faster with respect to Bitpanda Client Offers.

    4.6.2

    for the exclusive use of such F-Token within a Bitpanda System to exchange for E-Tokens. An exchange of F-Token outside of a Bitpanda System is impossible. An exchange of F-Token to another Bitpanda Client is impossible.

    4.7

    F-Token are designated to provide for quick options to act as Bitpanda Client as "support tools" for the Bitpanda Clients and shall in no event be seen as a deposit (Einlage) of any kind. Therefore, if a Bitpanda Client does not use an F-Token in exchange for another Token within a period of 12 months after such F-Token has been booked on the Bitpanda Client's Wallet ("Reference Period"), Bitpanda shall deduct F-Token and or parts of F-Token having the monetary value of EUR 5.00 (based on the figures used by Bitpanda in the Bitpanda System) from the Bitpanda Clients Account per calendar month as long as the Bitpanda Client does not make valid use of the respective F-Token. Every time the Bitpanda Client uses the respective F-Token the Reference Period restarts from zero.

    4.8

    You may send your M-Token to other Bitpanda Clients, however, Bitpanda Systems prohibit and do not allow the trade of M-Token between Bitpanda Clients.

    4.9 Air Drops

    4.9.1

    For any airdrop of Bitpanda itself ("Bitpanda Airdrop") Bitpanda automatically books the respective Token or any other digital information unit distributed in such Bitpanda Airdrop to the respective Bitpanda Client Account.

    4.9.2

    For any airdrop of other persons than Bitpanda, Bitpanda does not automatically credit any Token or any other digital information unit to the respective Bitpanda Client Account. You have to monitor any airdrop possibilities yourself and if you want to participate in such airdrop you must withdraw the respective Token from the Bitpanda system and book it into the respective system which you think fits to participate in such airdrop. Bitpanda does not advice on such other airdrops or on ways to participate in such airdrops and you move the Token at your own risk out of a Bitpanda System. Bitpanda does not and will not inform you on airdrops other than Bitpanda Airdrops.

    5. Bitpanda Fork Policy

    5.1

    Bitpanda applies the fork policy as attached hereto ("Bitpanda Fork Policy") and you accept the Bitpanda Fork Policy as part of the GTC.

    6 Voucher Of Cooperation Partners

    6.1

    Vouchers of cooperation partners may be offered on Bitpanda Systems as a pay-out option in case you wish to sell Token in exchange for a voucher of such a cooperation partner ("Cooperation Voucher"). Presently, Bitpanda System offers Cooperation Vouchers of Amazon EUR S.A.R.L. which can be used solely via www.amazon.de. Any changes, amendments and/or modifications of the offered Cooperation Voucher are in the sole discretion of Bitpanda and may take place at any time.

    6.2

    If you choose a payout option via Cooperation Voucher (see item 3.1.1), the chosen Cooperation Voucher will be bought in an amount equivalent to the value of the sold Token from the cooperation partner. Subsequently, Bitpanda System displays the code of the Cooperation Voucher in the Bitpanda Client's Account and sends it to Bitpanda Client's last disclosed email address. Upon displaying and sending the code of the Cooperation Voucher to your account and last disclosed email address the assumption of risk, especially the risk of use by third party and loss, passes to you.

    6.3

    It is not possible to return a Cooperation Voucher to Bitpanda or Bitpanda Metals GmbH.

    7. Bitpanda To Go

    7.1

    Bitpanda Systems offer vouchers, which can be used by you in exchange for Token on Bitpanda Systems ("Bitpanda To Go" or "Token-Voucher").

    7.2

    'Bitpanda To Go' is distributed via partner firms and can be exclusively used within a Bitpanda System after having become a Bitpanda Client.

    7.3

    Each Token Voucher has to be used in one single transaction. This means that the Token Voucher may not be split up for different transactions but may be used only for one single Bitpanda Client Offer. The exchange rates at the time of the use of the Token Voucher via Bitpanda Systems (and not at the time of the purchase of the Token Voucher) apply (see item 8.1).

    7.4

    Each Token Voucher is valid only for a period of 3 years after the date of purchase of such Token Voucher.

    7.5

    Each Token Voucher is individualized and there is no possibility to recover any damaged Token Voucher or lost Token Voucher. Any such purchaser of Token Voucher is solely liable to keep the Token Voucher in such condition that it can further be used in the Bitpanda System. Bitpanda assumes no liability for any damage or loss (including theft) of any Token Voucher by a purchaser of such Token Voucher and Bitpanda assumes no liability for any circumstances which are in the Token Voucher purchaser's sphere resulting in the fact that the Token Voucher cannot be used in a Bitpanda System.

    8 PRICES, PAYMENT CONDITIONS, EXCHANGE AND TRANSFER CONDITIONS

    8.1

    Prices and/or exchange rates published in connection with the Final Offer Click are final and binding for the Bitpanda Client Offer (each a "Final Rate").

    8.2

    Final Rates contain the following parts, which are shown on the webpage of the Final Offer Click:

    8.2.1

    in case you want to purchase F-Token:

    (i) offered amount in a currency that is legal tender

    (ii) F-Token received if offer is accepted by Bitpanda

    (iii) bonus in F-Token (volume of the bonus depending on which payment method you have chosen) booked directly on the Euro Wallet if offer is accepted by Bitpanda

    (iv) Final Rate, being the sum of items i-iii above

    8.2.2

    in case you want to purchase E-Token:

    (i) offered amount in a currency that is legal tender

    (ii) E-Token received if offer is accepted by Bitpanda

    (iii) bonus in the respective E-Token (volume of the bonus depending on which payment method you have chosen) booked directly on the E-Token Wallet if offer is accepted by Bitpanda

    (iv) Final Rate, being the sum of items i-iii above

    8.2.3

    in case you want to exchange F-Token for E-Token:

    (i) offered F-Tokens

    (ii) E-Token received if offer is accepted by Bitpanda

    (iii) Final Rate, being the sum of items i-ii above

    8.2.4

    in case you want to exchange E-Token for F-Token:

    (i) offered E-Tokens

    (ii) F-Token received if offer is accepted by Bitpanda

    (iii) Final Rate, being the sum of items i-ii above

    8.2.5

    in case you want to exchange E-Token for another different E-Token:

    (i) offered E-Tokens

    (ii) other different E-Token received if offer is accepted by Bitpanda

    (iii) Final Rate, being the sum of points i-ii above

    8.2.6

    in case you want to exchange F-Token for another different F-Token:

    (i) offered F-Tokens

    (ii) other different F-Token received if offer is accepted by Bitpanda

    (iii) Final Rate, being the sum of points i-ii above

    8.2.7

    in case you want to use Bitpanda Savings

    (i) offered amount in a currency that is legal tender

    (ii) E-Token received if offer is accepted by Bitpanda and pursuant to the applicable exchange rates listed on Bitpanda Systems at the time of CCOFA which occurs at the latest within 72 hours after the point in time specified by you in advance

    (iii) Final Rate, being the sum of points i-ii above

    8.3

    Each Bitpanda Client Offer must at least have a monetary value (based on the figures used by Bitpanda System), stated by the respective Final Rate of EUR 1.00.

    8.4

    Payments in a currency which is legal tender to and from Bitpanda from and to you are transferred by the respective payment service provider and not by Bitpanda itself.

    8.5

    Transfers of Token are conducted by Bitpanda within Bitpanda Systems.

    8.6

    Final Rates and/or any other payments or services have to be paid and/or transferred by you immediately after the Final Offer Click.

    8.7

    In case of using Bitpanda Savings, you can choose between SEPA direct debit mandate or recurring credit card debiting as payment method:

    8.7.1

    SEPA direct debit mandate: The respective payment amount is immediately payable and due for collection on the respective recurring purchase point in time specified by you in advance. By using SEPA direct debit mandate, you hereby revocably grant Bitpanda or a company affiliated with Bitpanda a SEPA direct debit mandate in order to collect the payments payable by you when due from your specified account by means of a recurring and regular SEPA direct debit. You hereby also authorize your bank to redeem the direct debits. Your bank is also entitled to decline direct debits, especially if your account does not have sufficient cover. You have the right to initiate a chargeback to your account within 56 calendar days (8 weeks) from the debit date without stating any reasons. Since you have been informed of the amount and the debit dates accordingly, you revocably waive the right to obtain pre-notifications before collections of direct debits are made. You are obliged to provide sufficient funds on your account on the due date. If collection via SEPA direct debit mandate is not possible (e.g. bank refuses or rejects the direct debit), you will bear any resulting costs (e.g. bank fees). This also applies if you terminate the SEPA direct debit mandate. In such a case, the provisions of point 8.9 and 8.10 apply equally. You are aware and accept that the initial setup of a SEPA direct debit mandate may take up to ten calendar days after submitting your necessary data to Bitpanda until it is fully implemented and hence, direct debits can be executed (the same applies in case you amend the amount of your Multiple Debit Order).

    8.7.2

    Recurring credit card payment: The respective payment amount is immediately payable and due for collection on the respective recurring purchase point in time specified by you in advance. Hence, you authorize Bitpanda to charge your credit card accordingly and in accordance with the general terms and conditions applicable for your credit card. You are obliged to provide sufficient funds on your credit card on the due date. If collection by credit card is not possible (e.g. insufficient funds), you will bear any resulting costs (e.g. credit card fees). In such a case, the provisions of point 8.9 and 8.10 apply equally.

    8.7.3

    If execution of a Multiple Debit Order is not possible, for whatever reason, no E-Token will be credited to your Bitpanda Client Account. In such a case, Bitpanda will notify you by e-mail of the failure of executing the order.

    8.7.4

    You may revoke a Multiple Debit Order issued by SEPA direct debit or credit card at any time. A revocation of the SEPA direct debit shall take effect at the time of the event occurring earlier: (i) the revocation has arrived at your bank or (ii) at least two Business Days have elapsed since your revocation communicated to us.

    8.7.5

    Bitpanda is entitled to refuse the service Bitpanda Savings to individual Bitpanda Clients for objective reasons.

    8.8

    Until the purchase price, including all fees and expenses, and/or any other outstanding amounts and/or claims have been fully paid, or any Tokens in exchange have been fully transferred to Bitpanda, any Token or proceeds thereof, remain the property of Bitpanda (Reservation of Title; Eigentumsvorbehalt) and Bitpanda has a right of retention (Zurückbehaltungsrecht) regarding the Tokens of the respective Bitpanda Client. This reservation remains in force regardless of any form of processing or blending of goods, which may take place in any location worldwide.

    8.9

    You are in delay with your payment/transfer if the respective payment/transfer is not booked on Bitpanda's accounts (including wallets and storages of Bitpanda) at the time when the respective CCOFA (as set forth under item 3.1.5) has been completed by Bitpanda or a collection via SEPA direct debit mandate cannot be fulfilled (see point 8.7). Bitpanda cannot be in delay because Bitpanda either accepts an offer by completing the respective CCOFA or denies an offer in all other cases of not completing the respective CCOFA.

    8.10

    In the case you are in delay with your transfer, Bitpanda may charge reminder fees to a reasonable relation to the amount in delay/value of transferred Tokens in delay and as far as such fees are necessary to cover adequate costs of Bitpanda to administer such delay and enforce Bitpanda's rights (a total amount of at least EUR 5.00 up to a maximum of EUR 15.00 will be charged). In case the respective Bitpanda Client does not settle debts within reasonable time, Bitpanda reserves the right to entrust a debt collection agency with the collection of the claimed debt. In such case Bitpanda will additionally charge EUR 5.00 processing fee for claims between EUR 0 and EUR 500.00 and EUR 10.00 processing fee for claims of more than EUR 500.00. Furthermore, any additional expenses charged by the debt collection agency towards Bitpanda complying with the "Verordnung des Bundesministers für wirtschaftliche Angelegenheiten über die Höchstsätze der Inkassoinstituten gebührenden Vergütungen" (BGBI Nr. 141/1996 idgF), will be charged to the Bitpanda Client, as long as these are reasonable and necessary to cover adequate prosecution costs.

    8.11

    Bitpanda allows within the single account rule (item 4.1) also only a single match between a Bitpanda Client Account and a payment service provider account (e.g. bank account, Neteller account, etc). Respectively any account with a payment service provider may be used only by one single Bitpanda Client. The name of the payment service user must match the name of the Bitpanda Client attached to the respective Bitpanda Client Account.

    8.12.

    You have to fully comply with the data disclosure requirements in the payment processes, in particular when paying via SEPA. If you do not comply with the data disclosure requirements Bitpanda cannot match the respective payment with your Bitpanda Client Account with the consequence that Bitpanda has to start a manual tracking process, for which Bitpanda shall charge you a processing fee in addition to any damage claims (if any) according to item 4.3 above.

    8.13

    Bitpanda reserves the right in all cases where a failure occurs with respect to payments from Bitpanda to you, which is in your sphere (e.g. incorrect IBAN provided by you or technical failure of your payment service provider, etc) to transfer instead (parts of) available F-Tokens having the same value in a currency which is legal tender at the time when the failure has occurred. The received F-Tokens completely replace the payment without any further claim.

    8.14

    Bitpanda reserves the right to change, amend and/or disallow accepted payment methods at its own discretion.

    8.15

    In the case of transferring E-Token from and to a Bitpanda System to an external blockchain, meaning out of or into a Bitpanda System,

    8.15.1

    transaction fees or miner-fees may occur, which must be settled directly by the Bitpanda Client.

    8.15.2

    the transaction-ID, as generated by the network, serves as irrefutable proof of the completed transfer of E-Token from Bitpanda to Bitpanda Client's last disclosed wallet-address. Such transaction-ID will be communicated also to the Bitpanda Client's last disclosed email address as part of a delivery confirmation email.

    8.15.3

    the transaction is completed and cannot be reversed once the transaction appears on an external blockchain network. You are aware and accept that from this point onwards Bitpanda has no influence anymore on the transaction and whether or not you have access to such transferred E-Token via your last disclosed wallet-address. You are aware and accept that the transfer can only be accepted by a confirmation on the blockchain and that Bitpanda assumes no liability whatsoever, that such confirmation is given. You assume full responsibility for the receipt of the adequate transaction confirmation by an external blockchain.

    8.15.4

    upon the transfer of the E-Token out of a Bitpanda System the assumption of risk, especially the risk of deterioration and loss, passes to you.

    8.16

    You are solely responsible for the accuracy of your own wallet-addresses outside of a Bitpanda System and for ensuring that they are correct and kept up to date. This applies in particular to a transfer from a certain E-Token to a wallet-address which is meant for another E-Token (e.g. Bitcoin to Litecoin). Once the E-Token is transferred to your last disclosed wallet address, the E-Token cannot be transferred back or sent to another wallet-address. Bitpanda assumes no liability whatsoever for any failures with respect to wallet addresses outside of a Bitpanda System.

    8.17

    You are solely responsible for the accuracy of your own wallet-addresses inside a Bitpanda System and for ensuring that it is correct and kept up to date. This applies in particular to a transfer from a certain E-Token to a wallet address which is meant for another E-Token (e.g. Bitcoin to Litecoin). Once the E-Token is transferred to your wrong E-Token Wallet, the E-Token cannot be transferred back or sent to another E-Token Wallet. Bitpanda assumes no liability whatsoever for any failures of a Bitpanda Client with respect to wallet addresses inside a Bitpanda System.

    8.18

    You are obliged to ensure, that in the case of E-Token refunds which are made by third parties onto the hot wallet of Bitpanda that these transactions can be assigned faultlessly to you. Such a case may occur, when you transfer E-Token from Bitpanda's hot wallet to a third party and the recipient sends the appropriate refunds back to Bitpanda’s hot wallet.

    9. Right Of Withdrawal

    9.1

    You must explicitly give up your 14-day right of withdrawal, from which consumers benefit according to section 11 of the "Fern- und Auswärtsgeschäfte-Gesetz" (the "FAGG"), in order to allow Bitpanda in accordance with section 18 para 1 no 11 FAGG to transfer E-Token or any other cryptographic blockchain-based digital information units (as digital content not stored on a physical data carrier) before the right of withdrawal expires. Bitpanda Systems transmit a confirmation of the closed contract to the respective Bitpanda Client according to section 5 para 2 of the FAGG immediately after the CCOFA.

    10. Data Protection

    10.1

    In the course of delivering the negotiated services, Bitpanda is compliant with the GDPR as set forth in the Data Protection Terms.

    11. Risks

    11.1

    You as a Bitpanda Client understand and accept the following risks in connection with using Bitpanda Systems. In particular, but without being limited to these examples, you understand the inherent risks set forth above and hereinafter:

    (i) Risk of software weaknesses: The underlying software application and software platform, the Bitpanda Systems, mobile applications and System technology, the smart contract systems and other involved software and technology and technical concepts and theories are still in an early development stage and unproven. There is no guarantee or warranty that the process for receipt, use and ownership of any cryptographic blockchain-based digital information units will be uninterrupted or error-free and there is an inherent risk that the software and related technologies and theories could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of any cryptographic blockchain-based digital information units, in particular but not limited to Token, Euros or any value of any cryptographic blockchain-based digital information units.

    (ii) Regulatory risk: Blockchain technologies allow new forms of interaction. It is possible that certain jurisdictions will apply existing regulations, or introduce new regulations addressing, on blockchain technology-based applications, which may have negative influence on the current setup of the systems and which may, inter alia, result in substantial modifications of the any cryptographic blockchain-based digital information units/ Bitpanda System technology, including its termination or the loss of any cryptographic blockchain-based digital information units or any value which any cryptographic blockchain-based digital information units might have. Bitpanda System technology is planned for a market, which is not regulated by financial markets rules. It is the design and intended structure not to fall under any financial market rules and Bitpanda and Bitpanda Metals GmbH intend to design, modify and/or adapt the Bitpanda System technology in such way that financial market rules are not applicable on any cryptographic blockchain-based digital information units and/or Bitpanda System technology. Respectively within the regulatory risk category also changes in the Bitpanda System technology with respect to such adaptions, amendments and re-designs may cause termination or the loss of any cryptographic blockchain-based digital information units or any value which any cryptographic blockchain-based digital information units might have.

    (iii) Risk of abandonment / lack of success: The allocation of any cryptographic blockchain-based digital information units and the development of the any cryptographic blockchain-based digital information units technologies might be abandoned for a number of reasons, including lack of interest from industry, community and/or the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects). Respectively even if Bitpanda System technology is partially or fully developed and launched, it could happen that any cryptographic blockchain-based digital information units do not receive any functionality.

    (iv) Risk of theft and internet vulnerability: The underlying software application and software platform, the Bitpanda System technology, the smart contract system(s), other involved software, other technology components and/or platforms may be exposed to electronical or physical attacks that could result in theft or loss of cryptographic blockchain-based digital information units, or the theft or loss of private data, impacting the ability to develop, launch or use Bitpanda System technology. You should be aware that SMS/ messages and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Bitpanda or Bitpanda Metals GmbH. You should always log into your Bitpanda Client Account through https://www.bitpanda.com to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice. You should note that phishing attacks often occur despite SMS or email or equivalent services, via search engines or ads in search engines, or other fraudulent links. Neither Bitpanda nor Bitpanda Metals GmbH does take any responsibility for lost Tokens or any other funds due to spoofing, phishing or other equivalent attacks.

    (v) Risk of blockchain mining attacks: As with any other public blockchain-based systems the Bitpanda System technology may be susceptible to attacks including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks or any other mining or non-mining related attacks. Any successful attacks present a risk to the Bitpand System technology, expected proper execution and sequencing of cryptographic blockchain-based digital information units transactions, and expected proper execution and sequencing of software computations.

    (vi) Risk of depreciation in value / extreme volatility: As cryptographic blockchain-based digital information units are not regulated the value of cryptographic blockchain-based digital information units is assessed differently. Respectively the value of cryptographic blockchain-based digital information units in whatever form might experience extreme volatility and/or the value of cryptographic blockchain-based digital information units might decline to zero. As additional cost with respect to regulatory or other risks might be triggered – and if such cost are added for the purpose of calculation to the value of cryptographic blockchain-based digital information units (whatever value you might give to the cryptographic blockchain-based digital information units) – cryptographic blockchain-based digital information units might also decline in their value to zero.

    (vii) General risk: There is no guarantee/warranty whatsoever on cryptographic blockchain-based digital information units and/or the success of the Bitpanda System technology, expressed or implied, to the extent permitted by law, and that cryptographic blockchain-based digital information units are created and obtained at the sole risk of the Bitpanda Client on an “as is” and “under development” basis and without, to the extent permitted by law, any guarantees/warranties of any kind, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose;

    (viii) Market and community risk: You are aware of the risks of soft and hard forks and splitting including the broad possible changes to Bitpanda System technology which might be imposed by the market or community on Bitpanda / Bitpanda System technology.

    (ix) Tax risk: The tax consequences of the allocation or purchase of cryptographic blockchain-based digital information units (in whatever form) as well as the exchange of cryptographic blockchain-based digital information units, the holding of cryptographic blockchain-based digital information units (in whatever form), the alienation of cryptographic blockchain-based digital information units (in whatever form) and/or any other action or transaction related to cryptographic blockchain-based digital information units may have tax implications at the level of a Bitpanda Client; therefore, you should contact your own tax advisors on the tax consequences in connection with the cryptographic blockchain-based digital information units and the Bitpanda System technology; by making a Bitpanda Client Offer to Bitpanda, and/or by receiving, using or holding cryptographic blockchain-based digital information units, and to the extent permitted by law, you agree not to hold any associated party (including Bitpanda, Bitpanda's auditors, Bitpanda's contractors, Bitpanda's advisors, Bitpanda's employees or Bitpanda's founders) liable for any tax liability associated with or arising from making an Bitpanda Client Offer, the allocation, use or ownership of cryptographic blockchain-based digital information units or any other action or transaction related to cryptographic blockchain-based digital information units.

    12. Warnings

    12.1

    Investing in cryptographic blockchain-based digital information units is highly speculative with a risk of loss of the entire capital invested. Such investment is only suitable for users, who can bear a loss of the entire invested capital.

    12.2

    Investing in cryptographic blockchain-based digital information units means investing in something totally new and unpredictable. Such investment is only suitable for users, who want to take maximum risk.

    12.3

    Cryptographic blockchain-based digital information units are no currencies or means of payment and are neither accepted by states, central banks nor must a private person accept them in any way.

    12.4

    Bitpanda does not take any responsibility for the prices of precious metals and you trade in precious metals at your behalf and risk.

    12.5

    Bitpanda does not take any responsibility for cryptographic blockchain-based digital information units, that are or tend to be collateralized, backed or pegged by a currency that is legal tender or any other asset of whatever form (e.g. stablecoins) as all actions in connection to such cryptographic block-chain-based digital information units are in the sole responsibility of its issuer and Bitpanda has no discretion over such actions. You agree and confirm that such cryptographic blockchain-based digital information units are collateralized, backed or pegged solely by the issuer and not by Bitpanda itself. Therefore, you cannot redeem or convert such cryptographic blockchain-based digital information units with Bitpanda.

    12.6

    You use the offered Bitpanda Systems at your own risk.

    13. Miscealleanous

    13.1

    Bitpanda manages the Bitpanda Systems with due care. Nevertheless, systems for the exchange of cryptographic blockchain-based digital information units combine various new fields of experimental technology and it is very likely that interruptions, failures and other problems occur. Neither Bitpanda nor Bitpanda Metals GmbH gives any guarantee with respect to finding solutions for any such problems as soon as possible. Bitpanda and Bitpanda Metals GmbH assumes no responsibility other than to try to find solutions and therefore assumes no liability whatsoever for any damage caused by interruptions of a Bitpanda System because any such interruptions are immanent in an experimental field of technology.

    13.2

    You are aware that technology based systems like Bitpanda Systems need maintenance work and development work and that for such work interruptions of the systems (planned and unplanned) are necessary and system immanent.

    13.3

    Bitpanda shall

    13.3.1

    via business clients only be liable for any direct and foreseeable damage in the case of intent or in cases physical damages of persons negligently caused by Bitpanda.

    13.3.2

    via consumers only be liable for any direct and foreseeable damage in the case of intent, gross negligence or in cases of physical damages of persons negligently caused by Bitpanda.

    13.3.3

    in no case be liable for indirect damages, consequential damages, especially regarding damages to other software, lost profit, pure property damages of a Bitpanda Client or third party damage.

    13.3.4

    in particular not be liable for damages caused by interruptions of Bitpanda Systems which are necessary for maintenance work or to avoid network disturbances and/or which are caused by inevitable occurrences which are outside Bitpanda's and Bitpanda Metals GmbH's control (e.g. energy network disturbances; regulatory authority interference or on-site visits; strikes, riots, environmental causes like earthquakes, storms, etc; wars or national or international conflicts with and without arms; international or national sanctions against certain products, services, persons, countries; legal limitations to cryptographic blockchain-based digital information units at any time or place worldwide; network interference, computer failures or criminal activities through third parties (for example hacking).

    13.3.5

    not be liable for and cannot guarantee that the security certificates displayed on any Bitpanda System are completely secure.

    13.3.6

    not be liable for any loss of customer data (e.g. due to hacker attacks) which are beyond Bitpanda's and Bitpanda Metals GmbH's sphere. A Bitpanda Client shall be informed immediately about the loss of data.

    13.3.7

    assume no liability for (i) stored E-Token in any hot and/or cold wallet for a Bitpanda Client; (ii) information of the Bitpanda Client used for transactions into or out of Bitpanda Systems, (iii) transactions into or out of Bitpanda Systems, (iv) a Bitpanda Client or person using websites, mobile applications or services, not provided by Bitpanda or Bitpanda Metals GmbH such as third party wallet services or any other services of any third party and (v) any user's login data, Bitpanda Client login data, 2FA data, or other user data. In using websites or services, not provided by Bitpanda or Bitpanda Metals GmbH such as wallet services or any other services of any third parties, Bitpanda and Bitpanda Metals GmbH expressly disclaim any liability for the third-party services and are not responsible for the performance of the third-party services or supplier. You as a Bitpanda Client use these services completely at your own risk. Funds sent to such third parties cannot be reverted, as these parties are not willing to. We can and will not check the reliability of these third parties. We have no obligation to contact or solve the problem with any third party.

    13.4

    Bitpanda undertakes to care for the E-Token stored by the Bitpanda Client to the extent to which it is reasonably technically manageable in Bitpanda Systems and endeavours to store the majority of these "cold" – meaning offline.

    13.5 Tell-a-Friend Program

    13.5.1

    Bitpanda offers a refer-a-friend program for an undetermined period of time. A respective referral code for this program can be found in the Bitpanda Client's Account. You may recommend a person to register as a new Bitpanda Client ("Promoter") and to use the Promoter's referral code ("Promoter Referral Code").

    13.5.2

    You as a Promoter receive

    (i) EUR 10.00 in F-Token for every fully verified Bitpanda Account created by using the Promoter Referral Code ("Promotion Fee"). The referred Bitpanda Client has to complete the verification successfully and purchase E-tokens of an equivalent amount of EUR 10.00.

    (ii) The referred Bitpanda Client receives EUR 10.00 in F-Token ("Referral Fee") once the verification was completed successfully and the referred Bitpanda Client purchased E-Tokens of an equivalent amount of EUR 10.00.

    The Promotion Fee and the Referral Fee will be booked in form of F-Token and can be time-displaced.

    13.5.3

    Within the context of this Tell-a-Friend Program and for any other context, a Promoter may only use advertising materials provided by Bitpanda. Alterations to these materials or the use of materials created by the Promoter are strictly forbidden.

    13.5.4

    Spamming, cold calling or any other intrusive advertising measures are strictly forbidden.

    13.5.5

    Any act on behalf of Bitpanda is forbidden (e.g. sending messages on behalf or in the name of Bitpanda to persons; publishing postings or publishing any statement on behalf of Bitpanda, editing the logo(s), brands or other material of Bitpanda, promoting any discounts for the services of Bitpanda (except for discounts which are published by Bitpanda themselves)).

    13.5.6

    Any Promoter must refrain from any Pay Per Click (PPC) or Search Engine Marketing (SEM) activity, including but not limited to Google Adwords, Bing Ads, in terms of (i) advertising on behalf of Bitpanda and leading users directly to Bitpanda Systems, the Promoter’s website or any other third party website as a result of that paid advertising, as well as (ii) bidding on Bitpanda brand terms, including any forms of misspellings and typos, also (iii) using Bitpanda brand terms, including any misspellings or typos within the paid ads text, and (iv) directly competing against Bitpanda ads in order to show on the search results pages.

    13.5.7

    Any Promotion Fee is booked in the Bitpanda Client Account of the Promoter and must be redeemed within 180 days by using it in exchange for E-Token. If a Promotion Fee is not used validly within 180 days it becomes invalid.

    13.5.8

    Persons with residence/seat in Germany are excluded from the participation in the "Tell-a-Friend Program" due to regulatory reasons in Germany.

    13.6

    You may not transfer E-Token out of the Bitpanda Systems in an ICO (Initial Coin Offering), or a comparable offer where digital currency or assets are returned, to the respective smart contract unless specifically authorised by Bitpanda. Should you do so anyway, the returned digital currency or assets will be credited to Bitpanda (see item 8.18 which applies). You accept to meet these regulations and agree to help the support with the return of the digital currency or assets. Thus, Bitpanda is entitled to a reimbursement of costs.

    13.7

    Bitpanda has the right to disclose any data to any competent authority if the data is requested to be disclosed by such authority in order to track or investigate any relevant cases under the Austrian Criminal Code (StGB). Bitpanda reserves the right to cooperate with such authorities to the maximum extent possible.

    13.8

    You accept and confirm with each transaction hereunder that you accept and confirm these GTC in the current form.

    13.9

    If one or more of the provisions of these GTC or one or more of the schedules hereto are or will become invalid or unenforceable, or if one or more of the provisions of these GTC or one or more of the schedules hereto are or will become incomplete, the other provisions of these GTC and the schedules hereto will remain valid without limitation, save that the main obligations of the parties hereunder remain unaffected. Such provision – having been found illegal or unenforceable in whole or in part, shall be ineffective solely to the extent of such determination of invalidity or unenforceability only with respect to the jurisdiction in which it has been found illegal or unenforceable, without having any effect on any other jurisdiction. Each invalid or unenforceable provision shall be replaced or completed by a valid and enforceable provision in such a way that the new provision closely reflects the legal and economic effects the parties have concurrently aimed at in the invalid or unenforceable provision.

    13.10

    Changes to and amendments of these GTC, including this clause, may be made by Bitpanda at any time and become effective at the earlier of (i) the Bitpanda Client accepts online the amended GTC or (ii) within 1 month after having published such changes or amendments.

    13.11

    The GTC exclusively govern the relationship between you and Bitpanda and supersede any prior statements or agreements. Any terms and conditions (AGB) of you are excluded from being applicable on the relationship between you and Bitpanda.

    13.12

    The failure of Bitpanda to enforce or to exercise, at any time or for any period of time any term of or any right or remedy arising pursuant to or under the GTC shall not constitute, and shall not be construed as, a waiver of such term or right or remedy and shall in no way affect Bitpanda's right to enforce or exercise it later, provided that such right is not time barred, expired or precluded. Any waiver to this effect must be explicitly made in writing.

    13.13

    Bitpanda and you agree on English language with respect to our communication. Subject to the German terms in brackets referring to Austrian legal terms (which shall be interpreted only with respect to their meaning under Austrian law and with respect to the German language term in brackets), any other language used shall be only used for purposes of convenience. Respectively every communication or notice shall be made in English language. The English language version of these GTC is the prevailing version.

    13.14

    The GTC and any transaction hereunder shall be governed by and construed in accordance with the laws of the Republic of Austria to the exclusion of the provisions of the United Nations Convention on the International Sale of Goods and without giving effect to any statutory conflict of law provisions or rules that would cause the application of the law of any jurisdiction other than Austria.

    13.15

    Any and all disputes or divergences or claims shall be exclusively dealt with the court having pertinent competence for 1010 Vienna.

    Annex I
    Bitpanda Fork Policy

    1.

    A fork is a situation in which a blockchain splits into two separate chains temporarily or permanently ("Fork"). Forks are a natural occurrence during mining, where two chains following the same consensus rules temporarily have the same accumulated proof-of-work and are both considered valid. They can also occur as a consequence of the use of two distinct sets of rules trying to govern the same blockchain. Forks have been used in cryptocurrencies in order to add new features to a blockchain or to reverse the effects of hacking or catastrophic bugs on a blockchain as was the case with the fork between Ethereum and Ethereum Classic. Notably, Forks have been widely discussed in the context of the bitcoin scalability problem.

    2.

    Bitpanda does not automatically support Forks of any cryptographic blockchain-based digital information units.

    3.

    Bitpanda assesses each case, and each Fork on a case by case basis and Bitpanda may at its sole discretion decide whether to support a Fork or not and whether to communicate that to you or not.

    4.

    If Bitpanda decides not to support a Fork but you want to participate in a Fork, you would have to move the respective E-Token onto such third party wallet which you think fits for supporting such Fork. Bitpanda herewith advices you to take enough time into consideration to move the respective E-Token, because Bitpanda cannot and will not give any guarantees to any transfers out of/ outside of Bitpanda Systems. Bitpanda does not advice on how much time is enough, but suggests that you carefully consider all relevant facts.

    5.

    You must monitor the market by yourself to stay informed about Forks. Bitpanda has no duty to inform you on any Forks.

    6.

    Bitpanda may decide in its sole discretion to suspend/ temporarily shut down any exchange, trading or any transaction with respect to E-Token which are part of a Fork or influenced by a Fork to a major extent. This applies to Forks which are supported by Bitpanda and also to Forks which are not supported by Bitpanda.

    7.

    If Bitpanda decides – at Bitpanda's sole discretion – to try to support a Fork, Bitpanda shall decide which chain is the original blockchain in the fork scenario. As a consequence Bitpanda shall inform you on such decision and will endeavour to integrate the new cryptographic blockchain-based digital information units resulting from the Fork into Bitpanda Systems. However, Bitpanda gives no guarantee that such integration takes place and shall inform you at its sole discretion on when and how and at which distribution rate such new cryptographic blockchain-based digital information units resulting from the Fork can be used in Bitpanda Systems. Respectively, Bitpanda holds any resulting new cryptographic blockchain-based digital information units balances for and on behalf of you from the time of the split till the time of distribution to you in cold storage (meaning offline). You are aware and accept that it is impossible to withdraw/or transfer any such new cryptographic blockchain-based digital information units balances out of a supported Fork until Bitpanda decides at Bitpanda's sole discretion to go live with such new cryptographic blockchain-based digital information units in Bitpanda Systems. You are aware and accept that there might be situations where Bitpanda may decide in a commercially reasonable way not to integrate such new cryptographic blockchain-based digital information units in Bitpanda Systems and that in such case you have no right to claim damages or compensation of any kind from Bitpanda. You are aware that Bitpanda will always only try to integrate new cryptographic blockchain-based digital information units but in no case gives any guarantee that such integration can be done or is fixed for a certain point in time.

    Annex II
    Definitions

    2FA means the proof of identity of a Bitpanda Client by combining two different and independent components (factors).
    Bitpanda has the meaning given to it in point 1.1.
    Bitpanda Airdrop is the free distribution of tokens to existing wallet addresses of Bitpanda itself.
    Bitpanda Client has the meaning given to it in point 2.1.
    Bitpanda Client Account has the meaning given to it in point 4.1.
    Bitpanda Client Offer has the meaning given to it in point 3.1.4.
    Bitpanda Fork Policy has the meaning given to it in point 5.1 and is added to this GTC in Annex I.
    Bitpanda Savings has the meaning given to it in point 3.1.2.
    Bitpanda Swap has the meaning given to it in point 3.1.3.
    Bitpanda Systems has the meaning given to it in 1.1.
    Bitpanda To Go has the meaning given to it in point 7.1.
    Business Day is a working day on which Austrian credit institutions are open to the public.
    CCOFA or Contract Conclusion and Order Fulfillment Action has the meaning given to it in point 3.1.5.
    Cooperation Voucher has the meaning given to it in point 6.1.
    Default in Payment has the meaning given to it in point 3.1.5.
    E-Token has the meaning given to it in point 3.1.
    F-Token has the meaning given to it in point 3.1.
    Fiat Wallet has the meaning given to it in point 4.5.
    Final Offer Click has the meaning given to it in point 3.1.1.
    Final Offer Click Savings has the meaning given to it in point 3.1.2.
    Final Offer Click Swap has the meaning given to it in point 3.1.3.
    Final Offer Clicks has the meaning given to it in point 3.1.2. and 3.1.3.
    Final Rate has the meaning given to it in point 8.1.
    Fork has the meaning given to it in Annex I n 1.
    M-Token has the meaning given to it in point 3.1.
    Multiple Debit Order has the meaning given to it in point 3.1.2.
    Offer Period has the meaning given to it in point 3.1.4.
    Price Guarantee has the meaning given to it in point 3.1.1.
    Promotion Fee has the meaning given to it in point 13.5.2.
    Promotor has the meaning given to it in point 13.5.1.
    Promotor Referral Code has the meaning given to it in point 13.5.1.
    Reference Period has the meaning given to it in point 4.7.
    Referral Fee has the meaning given to it in point 13.5.2.
    Token has the meaning given to it in point 3.1.
    Token Voucher has the meaning given to it in point 7.1.
    Wallet has the meaning given to it in point 4.5.

    Bitpanda Privacy Policy

    The current version of this Privacy Policy is: May 2019

    1. About this Privacy Policy

      Privacy and the security of transactions are core elements of cryptocurrencies, the blockchain technology and its whole global movement. Bitpanda really appreciates the trust clients have in us when trading cryptocurrencies and other digital assets on our platform. For this reason, privacy and data security have an enormously high priority for the Bitpanda group. It is very important to us, that you feel safe during your visit of our website and while using our services as well as in the course of all other business transactions with us. As soon as you make use of products and/or services of Bitpanda, you entrust us with the processing of your personal data. Bitpanda wants to give you the best possible experience with our platform to ensure that you enjoy the usage of our products and services now and in the future. That’s why we want to understand the user behaviour on our platform in order to improve it continuously. Thus, besides for our provided services it is also necessary for the improvement of usability to process your personal data.

      Therefore, in this Privacy Policy we want to transparently inform you in detail which personal data we collect from you, how we process it and to whom we might forward it. Furthermore, we would like to inform you which precautions we take to protect your personal data, which rights you have in this context and to whom you can turn for data protection concerns.

      Regarding the terms used in this Privacy Policy, such as “Processing” or “Controller”, we refer to the definitions of the GDPR.

      This Privacy Policy is drafted in English and German. In case of conflict the English version shall be the binding version.

    2. About Bitpanda Group

      Bitpanda GmbH and its direct and indirect subsidiaries (hereinafter referred to as "Bitpanda" or "Bitpanda Group" or "we") offer via its websites www.bitpanda.com and its mobile application (“Mobile App”) (together hereinafter referred to as "website" or “platform”) services and products related to buying and selling cryptocurrencies and other digital assets as well as payment and IT services.

      Bitpanda GmbH with its business address at Campus 2, Jakov-Lind-Straße 2, 1020 Vienna, Austria, registered in the commercial register of the Commercial Court of Vienna under FN 423018k is the parent company and is the content provider of the Platform as well as responsible for the offer of cryptocurrencies on it.

      Bitpanda Group consists of the following companies which are all subsidiaries of Bitpanda GmbH:

      • Bitpanda Metals GmbH: has its business address at Campus 2, Jakov-Lind-Straße 2, 1020 Vienna, Austria, registered in the commercial register of the Commercial Court of Vienna under FN 511923 d, and offers trading with precious metals via the platform www.bitpanda.com.

      • Bitpanda Payments GmbH: has its business address at Campus 2, Jakov-Lind-Straße 2, 1020 Vienna, Austria, registered in the commercial register of the Commercial Court of Vienna under FN 501412x, and offers different payment services via the platform www.bitpanda.com.

      • Bitpanda UK Limited: has its business address at 68 Hanbury Street, E1 5JL, London, United Kingdom, registered in the Companies House under company number 11106704, and acts as a service provider for the Bitpanda Group.

      • Pantos GmbH: has its business address at Campus 2, Jakov-Lind-Straße 2, 1020 Vienna, Austria, registered in the commercial register of the Commercial Court of Vienna under FN 481562 f, and develops new blockchain applications and offers its own cryptocurrency via the platform www.bitpanda.com, see also www.pantos.io.

    3. Applicability:

      To whom this Privacy Policy applies?

      This Privacy Policy applies to all persons who use Bitpanda's services, the website, the apps or interacts otherwise with the Bitpanda Group (e.g. business partners, interested parties, service providers, etc.); generally, such person hereinafter called "client” or “you”.

    4. Children:

      Are children allowed to use Bitpanda’s services?

      No, the products and services of Bitpanda are not directed to people under the age of 18 years. Only persons of legal age are permitted to use the services of Bitpanda and register for an account. Therefore, we are not knowingly collecting personal data from children. So, if you are under the age of 18 years, please do not use Bitpanda’s platform and do not provide any personal data to us.

    5. Controller:

      Who is responsible for the data processing and whom can you contact?

      Bitpanda is aware that both, the protection as well as the careful handling of your personal data are very important. Bitpanda will solely use the personal data provided by you in compliance with the applicable data protection requirements, this Privacy Policy and your consent.

      Generally, each company of the Bitpanda Group is controller and/or joint controller in the meaning of Art 4 para 7 GDPR and therefore responsible for the processing of personal data in connection with the services provided by the specific company (for the different services see Point 2).

      Due to the high data security standards in the Bitpanda Group, Bitpanda considers it necessary to implement a group-wide uniform data protection strategy. Thus, Bitpanda GmbH as parent company acts as central point of contact for all data protection issues concerning all services offered by the Bitpanda Group via the platform or the Mobile App.

      If you have any questions in connection with the processing of your personal data and the exercise of your rights under GDPR, you can contact our support team: [email protected] Please note that for certain requests we require further identification data from you (e.g. Passport, ID card, etc), in order to ensure that your personal data is only shared with you.

    6. Data categories and sources:

      Which personal data do we process and from which sources does the data originate?

      We process the personal data that we receive from you within the scope of the business relationship and usage of our Website. Furthermore we might process data we receive within the Bitpanda Group and data we have received from credit agencies, debtor directories, business analysis providers (e.g. CRIF GmbH, KSV 1870 Holding AG, Dow Jones News GmbH, Factiva Limited, Sift Science Inc.) and from publicly accessible sources (e.g. commercial register, register of associations, land register, media, sanctions lists).

      When using Bitpanda's services or interacting with Bitpanda the following personal data might be processed:

      • Contact data: when creating a new user account or communicating with Bitpanda we might process for example: name, address, telephone number, email, date of birth, photo for the account, etc.

      • Verification data: when an account is verified, also depending on the level of verification, therefore we might process for example: screenshots of national identity documents, like passport, driving license, ID card, and identification data from these documents, utility bill details for residence verification, data about status of political exposed persons, video data from the video authentication process, etc.

      • Financial data: in the course of purchase and sale transactions we might process for example: bank details (IBAN, BIC), payment service provider information, payment details, transaction-ID, etc.

      • Log data: during activities on the website, we might process for example: IP-address, transaction data, deposit and withdrawal address, computer or mobile device information, frequency, time, operating system, browser type, device type, unique device identification number, identification cookies (e.g. for the Affiliate and Tell-a-Friend program), optionally form data, crash reports, performance data, third party cookies, etc.

      • Mobile app data: when using the Mobile App, we might process for example: IP-address, transaction data, deposit and withdrawal address, mobile device information, frequency, time, operating system, browser type, device type, unique device identification number, optionally form data, crash reports, performance data and only with your explicit consent, data from: camera, microphone, storage, telephone (read SMS confirmation).

      • Company details: if you use a business account we might process for example: commercial register report, data of or concerning beneficial owners, records or additional information on recent, past or planned business activities, other data necessary to determine/validate the structure, the beneficial ownership or any power of attorney of the company, etc.

      • Details to and proof of funds: if proof of funds is necessary, we might process for example: banking statements or any other details provided by banks or financial institutions, contracts of sales or contracts in general, or any other suitable data to prove or determine the origin of funds, if exceeding the daily/monthly or general limits on Bitpanda or upgrading to Bitpanda Plus “High Limit Service or OTC Service” (more info see https://www.bitpanda.com/plus). In order to determine Client's purpose for using the above-mentioned services or trading volume additional information on recent, past or planned business or personal activities of business or private Clients or other data to determine the Client’s intentions, if necessary, can be processed, as requested by Bitpanda or provided by the Client.

      • Support requests: if you contact our support, we might process for example: personal data provided to the support team when you submit a request to Bitpanda's support team or any other member of the Bitpanda team.

      • Marketing data: if you visit our website or social media sites (like the Facebook Fanpage) or during the usage of the Mobile App, we might process statistical and marketing data for example: number of visitors, frequency, clicks, time, places, target groups, data from cookies and similar technologies (Pixels, ClearGIFs, etc.), consumer’s behaviour, interests and preferences, data about market research and target groups surveys, etc.; for social media see also Point 10 and for cookies our Cookie Policy.

      • Hiring data: if you apply for a job on our website or via LinkedIn, we might process data which is necessary for the recruitment process, for example: contact data, curriculum vitae, qualifications, police clearance certificate, credit report, national identity documents like passport, driving license and the data from all these documents, links to your portfolio or social media platforms, etc.

    7. Purpose and legal basis for using personal data:

      For which purposes and on what legal basis do we process your personal data?

      All processing is performed in accordance with the GDPR and the Austrian Data Protection Act (DSG). We process your personal data based on at least one of the legal bases listed below. If Bitpanda will ask to provide any other personal data not described above, then such data and the purpose and legal basis for the collection and processing, will be communicated to the Client at the point of collecting the personal data.

      1. For the performance of contractual obligations (Art 6 para 1 lit b GDPR):

        Processing of personal data might be necessary for the performance of the contract with you or in order to take steps ate your request prior to entering into a contract. The following data processing operations, for example, are covered by such contractual obligations:

        • general performance of our services, all tasks necessary for the operation, performance and administration of Bitpanda and its platform;

        • account management (e.g. continuous updating of client data);

        • execution of your orders (e.g. payment processing, chargebacks, proof of purchase and selling),

        • performance of the Affiliate Program and the Tell-a-Friend Program;

        • client service and support requests (e.g. contacting because of complications, Zendesk);

        • video authentication process if you register for an account on our website (validation of identity);

        • analysis and improvement of the platform's quality and the general user experience (e.g. performance tracking on the platform)

        • data security and IT-security on our website and safeguarding our network (e.g. prevention of identity theft and defective or suspicious accesses to our websites)

        • recruitment process for new employees.

      2. For compliance with legal obligations (Art 6 para 1 lit c GDPR):

        Processing of personal data might also be necessary for complying with various legal obligations (e.g. 5. AMLD, ZaDiG 2018, GewO 1994, etc.). The following data processing operations, for example, are covered by such legal obligations:

        • contract management, accounting and invoicing;

        • compliance and risk management;

        • Know-Your-Customer measures;

        • monitoring for prevention of fraud, misuse (e.g. for illegal purposes), money laundering and terrorist financing;

        • providing information to fiscal criminal authorities in the context of fiscal criminal proceedings or to prosecution in accordance with official orders;

        • consultation of credit agencies to determine creditworthiness and default risks.

      3. To protect legitimate interests (Art 6 para 1 lit f GDPR):

        Where necessary, data processing might take place beyond the performance of the contract in order to maintain the legitimate interests of Bitpanda or a third party. The following data processing operations are covered by such a legitimate interest:

        • prevention of fraud, misuse (e.g. for illegal purposes), money laundering and terrorist financing;

        • risk management and risk minimisation e.g. through enquiries to credit agencies, debtor directories or providers of business analysis;

        • identification and examination of potentially defective or suspicious business cases and accesses to our websites (e.g. website analysis via Sift Science);

        • data transmission within the Bitpanda Group for internal administrative purposes;

        • account management and handling general Client requests and inquiries;

        • measures for protecting our Clients and Partners, as well as safeguarding network and information security; also measures to protect our employees, Clients and property of Bitpanda e.g. through video surveillance (erasing cycle 72 h) and from external data centers and service providers;

        • processing inquiries from authorities, lawyers, collection agencies in the course of legal prosecution and enforcement of legal claims in the context of legal proceedings;

        • market research, business management and continuing development of services and products;

        • processing statistical data, performance data and market research data via the website, the Mobile App or social media platforms (e.g. Facebook, Instagram, LinkedIn, YouTube, etc.);

        • processing client preferences (e.g. language, region) via cookies on our website (see also our Cookie Policy);

        • direct marketing and advertising (e.g. performance of marketing strategies, targeting of Clients, dispatch of vouchers, advertisement from Bitpanda and its partner companies);

        • performance tracking of the Affiliate Program and the Tell-a-Friend program.

      4. Based on your consent (Art 6 para 1 lit a GDPR):

        If you have given us your consent to process your personal data, processing will only take place in accordance with the purposes defined and to the extent agreed in the declaration of consent. Given consent may be withdrawn at any time without giving reasons and with future effect, if you no longer agree to the processing. For example, with your consent we are processing data for the following purposes:

        • for the use of all functions of the Mobile App (e.g. telephone permission to read SMS confirmation, camera to scan barcodes, microphone for commands, etc.);

        • direct marketing and advertising (e.g. client satisfaction surveys, newsletters, sweepstakes and other advertising communications);

        • website analysis and tracking for advertising purposes (see also our Cookie Policy ;

        • application management system, recruitment process and handling your application (e.g. voluntary retention of application data for 2 years, data transfer from your social media account when using the tool “Apply with LinkedIn” see Point 10).

        Please note that the withdrawal of the consent does not affect the lawfulness of processing based on consent before its withdrawal.

    8. Recipients of personal data:

      Who receives your personal data?

      The protection and confidentiality of your personal data is important to Bitpanda. Therefore, we transfer your personal data only to the extent described below or within the scope of an instruction at the time the data is collected from you. In addition, personal data that we collect concerning you will neither be sold by us nor otherwise disclosed to third parties.

      1. Data transfer within the Bitpanda Group:

        Within the Bitpanda Group, those offices or employees will receive your personal data who need it to fulfil the contractual and legal obligations and legitimate interests. We transfer personal data for the purpose of our daily business operations like account management and other operations requested by you as well as to conduct internal administrative activities efficiently in a shared way and to maintain as well as improve our products and services.

      2. Data transfer to processors:

        To a limited extent, we also transmit personal information to processors who perform services for us such as video authentication services (e.g. IDnow GmbH, identity Trust Management AG), IT services (Amazon Web Services Inc.), Client support (Zendesk Inc.), improvement of our website (Hotjar Limited); performance of contracts, account management, accounting, invoicing, examination of defective or suspicious business cases (Sift Science Inc), application management (Lever Inc.) and sending out newsletters (e.g. UAB MailerLite). Processors may only use or disclose this data to the extent necessary to perform services for us or to comply with legal rules. We contractually oblige these processors to ensure the confidentiality and security of your personal data that they process on our behalf.

      3. Data transfer to public bodies and institutions:

        We might also transfer your personal data (i) if we are required to do so by law or in the context of legal proceedings, (ii) if we believe that disclosure is necessary to prevent damages or financial loss, or (iii) in connection with an investigation into suspected or actual fraudulent or illegal activities.

      4. Data transfer to other third parties:

        Joint Controllership: If Bitpanda acts together with other parties as joint controller (e.g. processing data for jointly determined purposes within the Bitpanda Group), we provide those parties with personal data if applicable and based on at least one of the legal bases listed above under Point 7. In case of a joint controllership, we transmit your personal data only based on a sufficient agreement with our partners (Art 26 GDPR).

        Other third parties: Bitpanda might transfer your personal data to any other person with your consent to the disclosure or the purpose of performing a contract or in order to take steps at the request of the data subject prior to entering into a contract, especially in regard of Bitpanda Payments GmbH and/or Bitpanda Metals GmbH, as far as the disclosure is necessary for the processing of payment services (privacy policy of Bitpanda Payments GmbH) or the purchase and sale of precious metals.

    9. International data transfer:

      Is data transferred to third countries or international organisations?

      Your personal data may be accessed by staff or suppliers in, transferred to, and/or stored at, a destination outside the country in which you are located, whose data protection laws might be of a lower standard than those in the European Union. However, Bitpanda will in all circumstances safeguard personal data as set out in this Privacy Policy.

      If we process personal data in a third country (outside the European Union (EU) or the European Economic Area [EEA]) or if this occurs in the context of the use of third party services or disclosure and/or transfer of personal data to third parties, we shall only transfer personal data to the performance of our (pre)contractual obligations, based on your consent, a legal obligation or our legitimate interests. Subject to legal or contractual authorisations, we process or have personal data processed in a third country only where the conditions of Art 44 et seq GDPR are met. This means, for example, that processing and the transfer is carried out based on special safeguards, such as the officially recognised setting of adequate level of data protection corresponding to the EU (e.g. for the USA by the EU/US Privacy Shield) or compliance with officially recognised special contractual obligations (known as “Standard Contractual Clauses”).

      Please contact [email protected] if you need further information regarding the international data transfer or if you would like to see a copy of the specific safeguards applied to the export of your personal data.

    10. Social Media presence:

      Are data processed on social media platforms and who is responsible in such cases?

      General: Bitpanda maintains social media presence on different platforms (see below) in order to communicate with its active Clients, prospective Clients and interested social media users about Bitpanda’s services, products and other news. When you access such social media platforms, the general terms and conditions as well as privacy policies of these operators apply additionally. We would like to point out that user data may also be processed outside the European Union. This can result in risks for users due to different legal frameworks (e.g. it could make it more difficult to enforce data subject rights).

      As part of the technical process of different social media platforms (e.g. Google, Facebook, Twitter, etc.), these platforms will know when you click on content or a website you are visiting, if you are logged in to your social media account at the same time. Such information is collected by social media platforms and assigned to your social media accounts, regardless of whether you click on content of this platform or not. By logging out from your accounts, you can prevent such companies from associating the information collected with your accounts. The activities of those companies are not controlled by Bitpanda and therefore, we do not assume any liability for damages that you may incur through the use of your data by these companies. For more information regarding tracking, cookies and similar technologies as well as opt-out possibilities, have a look at our Cookie Policy .

      Controller: Bitpanda can only process personal data of social media users, if they communicate directly with Bitpanda via such platforms (e.g. number of visitors, posted articles, likes, direct messages, Client inquiries, comments, etc.). In such cases, Bitpanda is also responsible for the processing of personal data gathered thereby. In addition to the data processing by us, other providers, in particular operators of social networks and platforms, also process personal user data. We have no influence on this data processing and are not responsible for it - the data processing takes place exclusively in the area of responsibility of the other providers.

      For a detailed explanation of the respective processing and the possibilities of objection (opt-out) by providers of social media networks, we refer to the respective privacy policies of the providers (see below). In the case of requests for information and the assertion of data subject rights regarding data processing by other providers, we point out that these can be asserted with the below-mentioned providers. Only the providers have access to the data of the users and can directly take appropriate measures and give information.

      Our social media pages and channels and links to their privacy policies:

      Our social media pages and channels Privacy Policy
      Instagram Link
      Facebook Link
      LinkedIn Link
      Twitter Link
      Telegram Link
      YouTube Link
      Reddit Link
      Pinterest Link
      VK Link

      Facebook Insights: Bitpanda maintains a Facebook Fanpage (“Fanpage”) and uses the associated analytic tool “Facebook Insights”. With this tool Bitpanda receives anonymous statistical evaluations about its Fanpage (e.g. number of visitors, frequency, target groups, etc.). For the processing of personal data in this context Bitpanda and Facebook Ireland Limited (“Facebook”) are joint controllers (Art 4 para 7 GDPR) and therefor jointly responsible for the data processing. A corresponding agreement is in place between Bitpanda and Facebook in accordance with 26 para 1 GDPR, which can be accessed via this link. However, Bitpanda does not store any of this data, the data is solely stored by Facebook and processed via Insights. For all questions and inquiries regarding Facebook Insight, Facebook acts as single point of contact and can be contacted via this link.

      Apply with LinkedIn Button: When using the opportunity to apply for jobs via the social sign-in button “Apply with LinkedIn”, provided by the social network LinkedIn (LinkedIn Corporation, 2029 Stierlin Court, Mountain View, California 94043, USA) you permit Bitpanda to access your LinkedIn profile. After clicking on the button “Apply with LinkedIn” you will be directed to LinkedIn to enter your LinkedIn access data. You can select the data you want to share with Bitpanda and only the data you choose is transferred to Bitpanda. Bitpanda will not receive any information about your login or access data on LinkedIn. For further information please also see the privacy policy from LinkedIn.

    11. Newsletter:

      What’s the legal basis for electronic notifications and how to unsubscribe?

      In our email newsletter (e.g. coin-update), we inform you about Bitpanda’s services and products. If you would like to receive our newsletter, you have to subscribe with your email address. We send newsletters and other electronic notifications only with your expressly consent if you’ve subscribed for it (double opt-in) or which is recorded during registration for a Bitpanda account, or where there is a legal basis to do so (e.g. Art. 107 para 3 of the Austrian Telecommunications Act [TKG]). With the double opt-in procedure, we check whether you are the holder of the email address given or if its holder agrees with receiving electronic notifications. This procedure serves as proof in case a third party misuses an email address through registering to receive the newsletter without the knowledge of the entitled party.

      Our Newsletter is performed by UAB MailerLite (J. Basanavičiaus 15, LT-03108 Vilnius, Lithuania) and in the newsletter so-called web beacons (also called ClearGIFs or tracking pixels) might be used. Such web beacons provide us with a better understanding of our Client’s interactions with the newsletter. They fulfil a similar function as cookies, but they are not visible to users. Information can be obtained via web beacons, in particular about whether an email was opened and whether the user’s system is capable of receiving HTML emails.

      You may unsubscribe from our newsletter, e.g. by withdrawing your consent, at any time. You can unsubscribe when you are logged into your account, furthermore you will find a link to unsubscribe at the end of each notification. Please note that we will continue to process your personal data until you withdraw your consent to the storage of the data, so that we can prove consent previously given to receive newsletters. The processing of this data is limited to the purpose of a possible defense against claims and you shall have the right to request the deletion of your personal data.

    12. Retention and deletion periods:

      For how long is my personal data processed (stored) and when will it be deleted?

      We retain your personal data, as far as necessary, for the duration of the entire business relationship (from initiation through performance to termination of a contract), and in principal 1 year after termination of the business relationship. Beyond this we retain your data only for a longer period, in accordance with statutory retention and documentation obligations, to defend legal claims or with your explicit consent.

      The retention period is thus determined by the statutory retention periods or limitation periods. In accordance with the Austrian Enterprise Code (UGB) and the Federal Tax Code (BAO) 7 years, in accordance with the Financial Market Money Laundering Act (FM-GWG) 5 years, in accordance with the Equal Treatment Act (GIBG) half a year and in certain cases between 3 and 30 years according to the Austrian General Civil Code (ABGB) e.g. if data are required as evidence for legal disputes or for as long as there are other legitimate interests in retention.

      Unless expressly stated in this Privacy Policy, personal data processed by us shall be erased as soon as they are no longer required for their intended purpose and the erasure does not conflict with any statutory retention obligations.

    13. Data subject rights:

      What rights and options under GDPR do I have?

      Right of access:

      You have the right to request confirmation from us as to whether we are processing personal data concerning you. Where personal data concerning you is being processed, you have the right, to receive information from us within a reasonable time regarding the personal data stored about you and to receive a copy of the personal data concerning you which is undergoing processing. Please use this link if you are logged into your account to submit such a subject access request (SAR).

      Right of rectification:

      You shall have the right to request the rectification of inaccurate personal data concerning you. Considering the purposes of the processing, you shall also have the right to have incomplete personal data completed, including by means of providing a supplementary statement.

      Right to erasure:

      You shall have the right to request from Bitpanda the erasure of personal data concerning you, where one of the following grounds applies and if no further processing is required:

      • the personal data is no longer necessary in relation to the purposes for which they were collected;

      • you withdraw your consent on which the processing was based and where there is no other legal basis or overriding legitimate interest for the processing;

      • the personal data have been unlawfully processed; or

      • erasure of the personal data is required for compliance with a legal obligation under European Union or Member State law to which the Controller is subject.

      Requests for the erasure of personal data must include the respective ground (Art 17 para 1 GDPR).

      Right to restriction of processing:

      You shall have the right to request from us the restriction of processing where one of the following conditions applies:

      • you contest the accuracy of the personal data (the restriction shall be put in place for a period which enables Bitpanda to verify the accuracy of the personal data);

      • the processing of your personal data was unlawful, and you oppose the erasure of your personal data and request instead the restriction of their use;

      • Bitpanda no longer requires your personal data for the purposes of the processing, but you require them for the assertion, exercise or defense of legal claims; or

      • You have objected to processing of your personal data and it has not yet been determined whether the legitimate grounds of Bitpanda override your own.

      Right to data portability:

      You shall have the right to receive the personal data concerning you which you have provided to us in a structured, commonly used and machine-readable format. You shall also have the right to request that we transfer these data directly to another controller, designated by you, where this is technically feasible and does not adversely affect the rights and freedoms of others. The right to data portability may only be exercised where the basis of the processing is either your consent or a (pre)contractual necessity, and where the processing is carried out by automated means. The right to data portability does not apply to processing which is necessary for the performance of a tasks carried out in the public interest or in the exercise of official authority vested in the controller.

      Right to object:

      You have the right to object to the processing of your personal data at any time if the processing is based on our legitimate interests. If you have objected to processing, we shall no longer process your personal data, unless we can demonstrate compelling legitimate grounds for the processing which override your interests, rights and freedoms or unless the processing is for the assertion, exercise or defense of legal claims. The objection does not affect the lawfulness of processing your personal data based on legitimate interests before your withdrawal.

      Contact: To exercise one of the above-mentioned rights you can send an email to [email protected] or a letter to Bitpanda GmbH, Campus 2, Jakov-Lind-Straße 2, 1020 Vienna, Austria. Please note that for such requests we require further identification data from you (e.g. Passport, ID card, etc), in order to ensure that your personal data is only shared with you.

    14. Objection Advertisement:

      How can I object to the processing of my data for advertising purposes?

      You can also object to any use of your personal data for advertising purposes. Please contact us via email [email protected] if you want to generally object to the processing of your data for advertising purposes. The objection does not affect the lawfulness of processing your personal data based on legitimate interests before your withdrawal.

      You have also the possibility to directly opt-out from tracking and the setting of cookies for advertisement purposes (please see also our Cookie Policy by following this link for the Web App and this link for the Mobile App [links to the objection option advertisement tracking in the WebApp/Mobile App], while you are logged in with your account. Furthermore, you may unsubscribe from our newsletter using this link.

      Please keep in mind, however, that such an objection will only be made to Bitpanda Group and that even after such an objection you might still receive advertising about Bitpanda from other providers on other websites over which we have no control.

    15. Automated decision-making:

      Does Bitpanda use my personal data for automated decision-making including profiling?

      Bitpanda does not use personal data for automated decision-making including profiling within the meaning of Art 22 GDPR (e.g. decisions producing legal effects concerning data subjects, or otherwise significantly affecting them, based solely on automated processing of personal data, including profiling).

    16. Processing for other purposes:

      Is my personal data processed for purposes other than those for which the personal data was collected?

      As a general principle of Bitpanda, we only process personal data for the purposes for which they were collected. In exceptional cases, however, we might process your personal data which we have collected for one specific purpose for another purpose. In this case, we will inform you before the intended processing about this purpose, the period for which your personal data will be stored, the exercise of data subject rights, the option to withdraw consent, the existence of the right to file a complaint with the data protection authority, whether provision of the data was necessary on legal or contractual grounds and what the consequences would be if it were not provided, and whether automated decision-making or profiling is carried out.

    17. Supervisory authority:

      With which supervisory authority can I file a complaint?

      You have the right to file a complaint to the competent supervisory authority, if you think you’ve been violated in your rights under GDPR. In Austria, this is the Data Protection Authority (Datenschutzbehörde).

    18. Declaration of consent:

      How do I give my consent and how can I withdraw my consent?

      By checking the respective box as a part of the registration process or in case of an update after the login into your Bitpanda account, you expressly confirm that you have read the Privacy Policy and that you agree to the data processing as described therein.

      By checking the respective separate box for news and updates per email (newsletter) you expressly consent that you agree to receive electronic communication as described above in point 11.

      You have the right to withdraw your consents at any time to Bitpanda GmbH, Campus 2, Jakov-Lind-Straße 2, 1020 Vienna, Austria, or via email to [email protected]. Please keep in mind, that we might not be able to provide all our services to you anymore, if you withdraw your consent. The withdrawal of your consent does not affect the lawfulness of processing your personal data based on consent before your withdrawal.

    19. Data Security:

      How is my personal data protected?

      The security of data is very important to Bitpanda and we are committed to protecting data we collect. We maintain comprehensive administrative, technical and physical measures designed to protect your personal data against accidental, unlawful or unauthorised destruction, loss, alteration, access, disclosure or use. These measures meet the highest international safety standards and are regularly reviewed regarding their effectiveness and suitability for achieving the intended safety objectives.

      We have implemented the following technical and organisational measures for example:

      • SSL encryption on our websites from which we transfer personal data;

      • two-factor authentication (2FA) for our platform;

      • ensuring the confidentiality, integrity, availability and resilience of our systems and services;

      • use of encrypted systems;

      • pseudonymisation and anonymisation of personal data;

      • entry, access and transfer control for our offices and systems;

      • measures for rapid recoverability of the availability of personal data in the event of a physical or technical incident;

      • measures for privacy by design and default on our platform like e.g. prevention of user enumeration;

      • implementation of procedures for regular review, assessment and evaluation of the effectiveness of the technical and organisational measure to ensure the security of the processing like e.g. our bug bounty program;

      • internal IT security guidelines and IT security trainings;

      • incident-response management.

      Please also make sure that you use the two-factor authentication (2FA) for your Bitpanda account, keep your access data confidential and protect your computer against unauthorised access.

    20. Updates of this Privacy Policy:

      How will I find out about changes to this Privacy Policy?

      We, Bitpanda, are committed to upholding the principles of data protection up to date. For this reason, we regularly review and update our Privacy Policy. This is to ensure that it is correct and clearly displayed on our website, contains appropriate information about your rights and our processing activities (also with regard to technical changes or business development) and is implemented in accordance with applicable law and thus complies with data protection requirements. We update this Privacy Policy from time to time when required, in order to take current circumstances into account. If we make significant changes to this Privacy Policy, we will notify you after the login into your account and provide you with the updated version of the Privacy Policy. If it is required by applicable law, Bitpanda will obtain your expressly consent to significant changes.

    21. How to contact us?

      Thank you for reading our Privacy Policy!

      If you have any further questions about this Privacy Policy or the processing of your personal Data, please contact our Support Team: [email protected]

    Bitpanda Metals GmbH General Terms and Conditions

    Version 1.0.0, valid as of 13th May 2019

    1. General Provisions

      1. The general terms and conditions herein (“GTC”) exclusively apply to any and all transactions, contracts and any all business relationships with Bitpanda Metals GmbH, with its corporate seat in A-1020 Vienna, Campus 2, Jakov-Lind-Straße 2 (“Bitpanda Metals”). Bitpanda Metals offers services in cooperation with third parties, in particular with Bitpanda GmbH. Hence, the GTC apply to transactions and business relationships with Bitpanda Metals related to any online or electronic platform (e.g. https://www.bitpanda.com/) and mobile application of Bitpanda GmbH (“Bitpanda Systems”).

      2. The service of Bitpanda Metals allows you to purchase and sell physically vaulted precious metals such as, but not limited to, gold, silver and palladium (“Services”). All other services (in particular with respect to cryptocurrencies) available on Bitpanda Systems are provided by Bitpanda GmbH and, hence, Bitpanda GmbH’s terms and conditions apply.

      3. Bitpanda Metals guarantees a minimum of 100% full reserves of the purchased precious metals.

      4. Bitpanda Metals offers Services only to and enters into contracts only with persons of legal age.

      5. For an overview of the definitions used in these GTC please refer to Annex I.

    2. Becoming a Bitpanda Metals Client

      1. In order to use Bitpanda Metals’ Services you have to be a fully registered and verified client of Bitpanda Systems.

      2. Persons interested in using Services have to register themselves at a Bitpanda System by providing valid and true information as required in the registration process. A person having successfully completed the registration process (which is confirmed by Bitpanda GmbH) is called "Bitpanda Client" or “you”.

      3. In order to use the trading options on a Bitpanda System you as a Bitpanda Client have to verify your account. Your trading limits depend on such verification level. The verification processes and requirements depend mainly on security requirements, in particular AML considerations, and may change from time to time depending on the legal framework.

      4. You ensure that you hold any and all details of your password confidential and that you only act for yourself and have opened the account only for yourself. It is also forbidden to act as intermediary of any kind or broker of any kind or trustee of any kind for any person or to allow access of any kind to the account to any other person than yourself. As a preventive security measure, Bitpanda Metals recommends that each Bitpanda Client uses the two factor authentication identification components (“2FA”).

      5. Persons having a US citizenship or being located in the United States may not become a Bitpanda Client according to regulatory reasons. Depending on the respective local regulatory framework Bitpanda Metals may exclude other jurisdiction from its Services as well.

      6. When a password is reset, Bitpanda Metals and Bitpanda GmbH pause any payment to and/or transfer of Tokens (as defined in item 3.1) to you or out of Bitpanda Systems for security reasons for a maximum period of 48 hours. You confirm that you are aware of this security measure and accept it.

      7. You, as a Bitpanda Client, shall

        1. ensure prompt execution of any contracts and shall refrain from activities which would thwart or endanger such execution.

        2. immediately report all defects or other problems which you either cause or get aware of and shall assist Bitpanda Metals to remedy the problem.

        3. immediately update via a Bitpanda System or submit to Bitpanda GmbH via registered mail any changes of your personal data (name, mailing/postal address and email address). You are aware and accept that Bitpanda Metals shall always use the last email address and last postal address which you shared with Bitpanda GmbH, and that any message delivered to such email or postal address shall be legally delivered.

        4. at all times ensure that you have available and in usable condition your 2FA, if used by you. In case of loss of the 2FA, you must immediately inform Bitpanda GmbH about this loss and follow support team member's instructions. You acknowledge and accept that such instructions may be deferred depending on the utilization of support team and neither Bitpanda GmbH nor Bitpanda Metals is liable for any of your claims due to such delay. If you are not able to follow the instructions and comply with the security rules and requirements you will neither be able to access the relevant page nor your Bitpanda Client Account again and the Bitpanda Client's Account including any Token may not be and cannot be used until you can regain the correct 2FA. You are aware and accept this "No Recover Policy" which is a major and important immanent part of a system dealing with cryptographic blockchain-based digital information units.

      8. Bitpanda Metals and, hence, Bitpanda GmbH requires certain specified information from you in the process of becoming a Bitpanda Client. You are aware and accept herewith that Bitpanda Metals may at its sole discretion decide at which point in time you must deliver copies of passports (in notarized and apostilled form or not) and any other documents required by law and/or as defined in Data Protection Terms; if being a legal entity copies of company register excerpts or equivalent documents (in notarized and apostilled form or not) and any other documents required by law or as defined in Data Protection Terms.

    3. Exchange

      1. Bitpanda’s group provides Bitpanda Systems for the exchange of (i) cryptographic blockchain-based digital information units, such as, but not limited to, Bitcoin, Dash, Ripple, Bitcoin Cash, Ether and Litecoin, (“E-Token”), (ii) fiat token (“F-Token”), (iii) precious metals (“M-Token” together with E-Token and F-Token referred to as “Token”) or (iv) the sell and purchase of Token with a currency that is legal tender (gesetzlich anerkanntes Zahlungsmittel). The M-Tokens traded on Bitpanda Systems can be changed or amended at any time and in the sole discretion of Bitpanda Metals. The services with respect to F- and E-Token are offered by Bitpanda GmbH and not by Bitpanda Metals itself.

        1. Exchange (Tausch) and sale/purchase (Verkauf/Kauf) of M-Token with Bitpanda Metals is exclusively done in the following way: You offer bindingly to exchange, sell or buy (part of) M-Token(s) to Bitpanda Metals. To make such binding offer you have  to (i) correctly fill in all necessary, valid and correct data on the respective trading screen and (ii) click/confirm either "Buy now" or "Sell now" button (item (ii) referred to as the "Final Offer Click"). The conditions offered by Bitpanda Metals for your order are valid for one minute (“Price Guarantee”) which is the maximum time to validate and confirm the conditions by the Final Offer Click. For the avoidance of doubt in this context the word "buy" is to be interpreted and qualified exclusively as "binding offer to accept the receipt of M-Token in exchange for the specified amount in a currency which is legal tender or F-Token" and the word "sell" is to be interpreted and qualified exclusively as "binding offer to accept the receipt of F-Token or the specified amount in a currency which is legal tender or the equivalent amount in form of Cooperation Vouchers (see item 6) in exchange for M-Token".

        2. Bitpanda Metals also offers “Bitpanda Savings” for M-Token in cooperation with Bitpanda GmbH. You can exclusively use Bitpanda Savings in the following way: You offer bindingly to purchase (part of) M-Token on a regular and recurring basis from Bitpanda Metals (“Mutiple Debit Order”). To make such binding offer you have to (i) correctly fill in all necessary, valid and correct data on the respective trading screen and (ii) click/confirm "Confirm now" button (item (ii) referred to as the "Final Offer Click Savings" together with the Final Offer Click the “Final Offer Clicks”). For the avoidance of doubt in this context "Confirm now" is to be interpreted and qualified exclusively as "binding offer to accept the receipt of M-Token on a regular and recurring basis in exchange for the specified amount in a currency which is legal tender”.

        3. Bitpanda Metals also offers “Bitpanda Swap” for M-Token in cooperation with Bitpanda GmbH. You can exclusively use Bitpanda Swap for M-Token in the following way: You offer bindingly to exchange (part of) M-Tokens into E-Token or vice versa or (part of) M-Tokens into another type of M-Token. To make such binding offer you have to (i) correctly fill in all necessary, valid and correct data on the trading screen and (ii) click/confirm "Swap now" button (item (ii) referred to as the “Final Offer Click Swap” together with the Final Offer Click the “Final Offer Clicks”). For the avoidance of doubt in this context "swap now" is to be interpreted and qualified exclusively as "binding offer to accept the receipt of E-Token in exchange for the specified amount of M-Token or vice versa or " or “binding offer to accept the receipt of M-Token in exchange for the specified amount of another type of M-Token”.

        4. The offers mentioned in item 3.1.1, 3.1.2 and 3.1.3 are herein referred together as “Bitpanda Client Offer.  You are bound by a Bitpanda Client Offer for a period of one week after the respective Final Offer Click (“Offer Period”). Bitpanda Metals confirms to you immediately after having received a Bitpanda Client Offer the receipt thereof.

        5. After having received a Bitpanda Client Offer Bitpanda Metals may or may not accept such offer by factual fulfilling of the offer (tatsächlicher Erfüllung des Angebots) at its sole discretion within the Offer Period (the “Contract Conclusion and Order Fulfillment Action” or “CCOFA”). For any payments in currency that is legal tender from and to you the Bitpanda System uses a payment service provider. In case Bitpanda Metals factual fulfilled the Bitpanda Client Offer without full receipt of the payment as agreed in the Bitpanda Client Offer, you are obliged to pay such outstanding amount (“Default in Payment”). In case of any Default in Payment the consequences as outlined in item 4.2 and 8.8 apply.

      2. Any figures, numbers, exchange reference prices or other relevant publications via any Bitpanda System or in another way are in no case offers, nor binding offers, nor guarantees for an exchange but always to be seen as invitations to you to provide offers for exchange to Bitpanda Metals (invitation ad offerandum).

      3. Bitpanda Systems exclusively allow Bitpanda Clients to make exchange offers based on positive balances on the respective Bitpanda Client Account. Short selling, meaning an offer with respect to Tokens which are not booked as positive balance on the respective Bitpanda Client Account, is forbidden and blocked by the system. A Bitpanda Client Offer is technically limited with your positive balance of such offer and the limits pursuant to your verification level. Bitpanda Metals reserves the right to further limit the range of a Bitpanda Client Offer at its sole discretion to certain specified limits per Bitpanda Client.

      4. Delays in the processing of the Bitpanda Client Offers can occur due to unforeseen technical disruptions. Therefore, neither Bitpanda Metals nor Bitpanda GmbH does offer any guarantee of immediate offer processing nor assumes any liability related thereto, in particular not with respect to any changes of prices, valuations or other conditions with respect to any offered Tokens or services, except the Price Guarantee of Bitpanda Metals as outlined in item 3.1.1 of these GTC.

    4. Bitpanda Client Account

      1. Bitpanda Systems allow only one account per Bitpanda Client (“Bitpanda Client Account”).

      2. Bitpanda Metals reserves the right to lock, freeze and/or close a Bitpanda Client Account (including the block (Blockierung) of a transaction, reverse (Rückabwicklung) of a transaction, hold (Aussetzung) of a transaction, rescission (Rücktritt) from a transaction, the loss of any vouchers) immediately and without further notice to the Bitpanda Client, if

        1. such Bitpanda Client has been accused of (including any reasonably documented media reports or market rumors on): fraud, terror financing, money laundering, tax fraud, or any other breach or violation of relevant criminal, administrative or tax laws in any country of the world, being part of a Ponzi scheme of any kind, using matrix programs/ pyramid programs/ multi-level marketing or other high risk business detrimental to customers of any kind; unlawful activity in any country of the world; forbidden gambling; intellectual property or proprietary rights infringement, counterfeit or unauthorized goods; using/distributing drugs and drug paraphernalia or substances designed to mimic illegal drugs; producing/distributing adult content and services; using unfair, predatory or deceptive practice via customers or persons;  etc.

        2. Bitpanda Metals has been informed of official investigations (by any competent public authority, in particular but not limited to any public prosecutors in the field of criminal law or tax agents) against such Bitpanda Client with respect to fraud, terror financing, money laundering, tax fraud, or any breach or violation of relevant criminal, administrative or tax laws in any country of the world.

        3. a Bitpanda Client has breached his obligations under the GTC (e.g. any delayed payment) without curing such breach within “10 Business Days”.

        4. a Bitpanda Client has breached any rules or regulations of a payment service provider.

        5. a Bitpanda Client has breached any rules or regulations of Bitpanda GmbH.

        6. a Bitpanda Client has opened more than one account with Bitpanda Systems.

        7. a Bitpanda Client uses an account without legal entitlement to use such account.

        8. a Bitpanda Client conceals the correct identity by providing incorrect data regarding the Bitpanda Client Account or an account with a payment service provider.

        9. a Bitpanda Client materially breaches the payment rules, in particular but not limited to item 8.11, as set forth under the GTC causing significant efforts without curing the problems within 10 Business Days.

        10. a Bitpanda Client manipulates Bitpanda Systems or Bitpanda services. Such manipulation is in particular any use of an automated system (e.g. bot) or any other use which contradicts normal and typical trading behaviour of human beings and, hence, indicates the involvement of a certain technology, software and/or any system automating such trading, except such use has been previously agreed with Bitpanda Metals.

      3. If Bitpanda Metals is engaged by you to remedy a declared and/or alleged deficiency and it is proven that no deficiency exists, existed or that the deficiency is or was in your sphere, Bitpanda Metals is entitled to charge compensation for any resulting expense.

      4. Bitpanda Metals may charge – in addition to any damage claims which Bitpanda Metals might have against such Bitpanda Client – for its additional efforts in connection with items 4.2. and 4.3 a processing fee of up to EUR 50.00 or any part of E-Token having the value of up to EUR 50.00 at the time of the measure set in accordance with item 4.2 and 4.3.

      5. Bitpanda Metals uses Bitpanda GmbH’s token system (F-Token and E-Token) which are booked in the respective storing sub-accounts (each a “Wallet”) of the respective Bitpanda Client Account. Only F-Token, E-Token and M-Token booked in the respective Wallets in the Bitpanda Client Account may and can be used for making a Bitpanda Client Offer with respect to offering Tokens. The Wallet for F-Token is named "Fiat Wallet".

      6. F-Tokens, which are exclusively offered by Bitpanda GmbH, are designated

        1. for support and facilitation reasons as an extra service towards Bitpanda Clients, in particular to enable the Bitpanda Client to act faster with respect to Bitpanda Client Offers.

        2. for the exclusive use of such F-Token within a Bitpanda System to exchange for Tokens. An exchange of F-Token outside of a Bitpanda System is impossible. An exchange of F-Token to another Bitpanda Client is impossible.

      7. F-Token are designated to provide for quick options to act as Bitpanda Client as "support tools" for the Bitpanda Clients and shall in no event be seen as a deposit (Einlage) of any kind. Therefore, if a Bitpanda Client does not use an F-Token in exchange for another Token within a period of 12 months after such F-Token has been booked on the Bitpanda Client's Wallet (“Reference Period”), Bitpanda GmbH shall deduct F-Token and or parts of F-Token having the monetary value of EUR 5.00 (based on the figures used in the Bitpanda System) from the Bitpanda Client Account per calendar month as long as the Bitpanda Client does not make valid use of the respective F-Token. Every time the Bitpanda Client uses the respective F-Token the Reference Period restarts from zero.

      8. You may send your M-Token to other Bitpanda Clients, however, Bitpanda Systems prohibit and do not allow the trade of M-Token between Bitpanda Clients.

    5. Precious Metals Holdings

      1. The precious metal is held in a form generally accepted in settlement of physical bullion markets around the world. The precious metals are physically stored and held by a vault operator and the only access to such holdings is via Bitpanda Systems. Bitpanda Metals is the contracting party of this vault operator (including the custody agreement). You agree and confirm that Bitpanda Metals has the contractual relationship with the vault operator. Hence, the agreement to manage your bullion is between you and Bitpanda Metals only. It is in Bitpanda Metals’ sole discretion to change vault operator and the place of precious metals holdings anytime. You find current vault operators and places of precious metals holdings on Bitpanda’s website.

      2. Bitpanda Metals shall inform the vault operator of the holdings of each Bitpanda Client, but you cannot contact the vault operator directly (e.g. access to holdings, information) in the absence of a direct contractual relationship.

      3. By using Bitpanda Metals Services you agree and acknowledge that any precious metals’ holding you own do not relate to a specific bar but rather to portions of bars that when added up is equal to the full reserves of all Bitpanda Clients. By this method Bitpanda Metals is able to achieve its low prices while also giving the option to trade milligrams of precious metals.

      4. Your M-Token holdings on Bitpanda Systems are charged with a storage fee. The concrete storage fee depends and varies on the type of M-Token (e.g. gold or silver, etc.). You find the current rates of the storage fee displayed on Bitpanda’s website. As such storage fee depends on external factors, which are outside of Bitpanda’s sphere, current rates and prices may vary and you confirm and accept, that rates of the storage fee are not guaranteed and may differ from time to time. The storage fee is calculated on the weighted average value of the respective M-Token (e.g. gold or silver, etc.) during your M-Token holding time. Such fee is due and payable (i) every Monday at 12:01 am or (ii) upon exchange of M-Token for E-Token, F-Token or another type of M-Token. You empower and grant Bitpanda Metals the right to deduct the storage fee from your M-Token. Such deduction will take place at latest within four days after the storage fee is due and payable. If no M-Token is available, then the equivalent value will be deducted from the E-Token respectively F-Token.

    6. Voucher of Cooperation partners

      1. Vouchers of cooperation partners may be offered on Bitpanda Systems as a pay-out option in case you wish to sell Token in exchange for a voucher of such a cooperation partner (“Cooperation Voucher”). Presently, Bitpanda System offers Cooperation Vouchers of Amazon EUR S.A.R.L. which can be used solely via www.amazon.de. Any changes, amendments and/or modifications of the offered Cooperation Voucher are in the sole discretion of Bitpanda Metals and Bitpanda GmbH and may take place at any time.

      2. If you choose a payout option via Cooperation Voucher (see item 3.1.1), the chosen Cooperation Voucher will be bought in an amount equivalent to the value of the sold Token from the cooperation partner. Subsequently, Bitpanda System displays the code of the Cooperation Voucher in the Bitpanda Client's Account and sends it to Bitpanda Client's last disclosed email address. Upon displaying and sending the code of the Cooperation Voucher to your account and last disclosed email address the assumption of risk, especially the risk of use by third party and loss, passes to you.

      3. It is not possible to return a Cooperation Voucher to Bitpanda Metals or Bitpanda GmbH.

    7. bitpanda to go

      1. Bitpanda Systems offer vouchers, which can be used by you in exchange for M-Token on Bitpanda Systems ("Bitpanda To Go" or "Token-Voucher").

      2. 'Bitpanda To Go' is distributed via partner firms and can be exclusively used within a Bitpanda System after having become a Bitpanda Client.

      3. Each Token Voucher has to be used in one single transaction. This means that the Token Voucher may not be split up for different transactions but may be used only for one single Bitpanda Client Offer. The exchange rates at the time of the use of the Token Voucher via Bitpanda Systems  (and not at the time of the purchase of the Token Voucher) apply (see item 8.1)

      4. Each Token Voucher is valid only for a period of 3 years after the date of purchase of such Token Voucher.

      5. Each Token Voucher is individualized and there is no possibility to recover any damaged Token Voucher or lost Token Voucher. Any such purchaser of Token Voucher is solely liable to keep the Token Voucher in such condition that it can further be used in the Bitpanda System. Whether Bitpanda Metals nor Bitpanda GmbH assumes liability for any damage or loss (including theft) of any Token Voucher by a purchaser of such Token Voucher and Bitpanda assumes no liability for any circumstances which are in the Token Voucher purchaser's sphere resulting in the fact that the Token Voucher cannot be used in a Bitpanda System.

    8. Prices, Payment Conditions, Exchange and Transfer Conditions

      1. Prices and/or exchange rates published in connection with the Final Offer Click are final and binding for the Bitpanda Client Offer (each a "Final Rate").

      2. Final Rates contain the following parts, which are shown on the webpage of the Final Offer Click:

        1. in case you want to purchase M-Token:

          1. offered amount in a currency that is legal tender

          2. M-Token received if offer is accepted by Bitpanda Metals

          3. bonus in the respective M-Token (volume of the bonus depending on which payment method you have chosen) booked directly on the M-Token Wallet if offer is accepted by Bitpanda Metals

          4. Final Rate, being the sum of items i-iii above

        2. in case you want to exchange F-Token for M-Token:

          1. offered F-Tokens

          2. M-Token received if offer is accepted by Bitpanda Metals

          3. Final Rate, being the sum of items i-ii above

        3. in case you want to exchange E-Token for M-Token:

          1. offered E-Tokens

          2. M-Token received if offer is accepted by Bitpanda Metals

          3. Final Rate, being the sum of items i-ii above

        4. in case you want to exchange M-Token for F-Token:

          1. offered M-Tokens

          2. F-Token received if offer is accepted by Bitpanda Metals

          3. Final Rate, being the sum of items i-ii above

        5. in case you want to exchange M-Token for E-Token:

          1. offered M-Tokens

          2. E-Token received if offer is accepted by Bitpanda Metals

          3. Final Rate, being the sum of points i-ii above

        6. In case you want to exchange M-Token for another different M-Token:

          1. offered M-Tokens

          2. M-Token received if offer is accepted by Bitpanda Metals

          3. Final Rate, being the sum of points i-ii above

        7. In case you want to use Bitpanda Savings:

          1. offered amount in a currency that is legal tender

          2. M-Token received if offer is accepted by Bitpanda Metals and pursuant to the applicable exchange rates listed on Bitpanda Systems at the time of CCOFA which occurs at the latest within 72 hours after the point in time specified by you in advance

          3. Final Rate, being the sum of points i-ii above

      3. Each Bitpanda Client Offer must at least have a monetary value (based on the figures used by Bitpanda Systems), stated by the respective Final Rate of EUR 1.00.

      4. Payments in a currency which is legal tender to and from Bitpanda Systems from and to you are transferred by the respective payment service provider and not by Bitpanda Metals or Bitpanda GmbH.

      5. Transfers of Token are conducted by Bitpanda Metals and/or Bitpanda GmbH within Bitpanda Systems.

      6. Final Rates and/or any other payments or services have to be paid and/or transferred by you immediately after the Final Offer Click.

      7. In case of using Bitpanda Savings, you can choose between SEPA direct debit mandate or recurring credit card debiting as payment method:

        1. SEPA direct debit mandate: The respective payment amount is immediately payable and due for collection on the respective recurring purchase point in time specified by you in advance. By using SEPA direct debit mandate, you hereby revocably grant Bitpanda GmbH or a company affiliated with Bitpanda GmbH a SEPA direct debit mandate in order to collect the payments payable by you when due from your specified account by means of a recurring and regular SEPA direct debit. You hereby also authorize your bank to redeem the direct debits. Your bank is also entitled to decline direct debits, especially if your account does not have sufficient cover. You have the right to initiate a chargeback to your account within 56 calendar days (8 weeks) from the debit date without stating any reasons. Since you have been informed of the amount and the debit dates accordingly, you revocably waive the right to obtain pre-notifications before collections of direct debits are made. You are obliged to provide sufficient funds on your account on the due date. If collection via SEPA direct debit mandate is not possible (e.g. bank refuses or rejects the direct debit), you will bear any resulting costs (e.g. bank fees). This also applies if you terminate the SEPA direct debit mandate. In such a case, the provisions of point 8.9 and 8.10 apply equally. You are aware and accept that the initial setup of a SEPA direct debit mandate may take up to ten calendar days after submitting your necessary data to Bitpanda until it is fully implemented and hence, direct debits can be executed (the same applies in case you amend the amount of your Multiple Debit Order).

        2. Recurring credit card payment: The respective payment amount is immediately payable and due for collection on the respective recurring purchase point in time specified by you in advance. Hence, you authorize Bitpanda GmbH to charge your credit card accordingly and in accordance with the general terms and conditions applicable for your credit card. You are obliged to provide sufficient funds on your credit card on the due date. If collection by credit card is not possible (e.g. insufficient funds), you will bear any resulting costs (e.g. credit card fees). In such a case, the provisions of point 8.9 and 8.10 apply equally.

        3. If execution of a Multiple Debit Order is not possible, for whatever reason, no M-Token will be credited to your Bitpanda Client Account. In such a case, you will be notified by e-mail of the failure of executing the order.

        4. You may revoke a Multiple Debit Order issued by SEPA direct debit or credit card at any time. : A revocation of the SEPA direct debit shall take effect at the time of the event occurring earlier: (i) the revocation has arrived at your bank or (ii) at least two Business Days have elapsed since your revocation communicated to us.

        5. Bitpanda Metals is entitled to refuse the service Bitpanda Savings to individual Bitpanda Clients for objective reasons.

      8. Until the purchase price, including all fees and expenses, and/or any other outstanding amounts and/or claims have been fully paid, or any Tokens in exchange have been fully transferred to Bitpanda Metals, any Token or proceeds thereof, remain the property of Bitpanda Metals (Reservation of Title; Eigentumsvorbehalt) and Bitpanda Metals has a right of retention (Zurückbehaltungsrecht) regarding the Tokens of the respective Bitpanda Client. This reservation remains in force regardless of any form of processing or blending of goods, which may take place in any location worldwide.

      9. You are in delay with your payment/transfer if the respective payment/transfer is not booked on Bitpanda Systems' accounts (including wallets and storages) at the time when the respective CCOFA (as set forth under item 3.1.5) has been completed by Bitpanda Metals or a collection via SEPA direct debit mandate cannot be fulfilled (see point 8.7). Bitpanda Metals cannot be in delay because it either accepts an offer by completing the respective CCOFA or denies an offer in all other cases of not completing the respective CCOFA.

      10. In case you are in delay with your transfer, Bitpanda Metals may charge reminder fees to a reasonable relation to the amount in delay/value of transferred Tokens in delay and as far as such fees are necessary to cover adequate costs of Bitpanda Metals to administer such delay and enforce Bitpanda Metals' rights (a total amount of at least EUR 5.00 up to a maximum of EUR 15.00 will be charged). In case the respective Bitpanda Client does not settle debts within reasonable time, Bitpanda Metals reserves the right to entrust a debt collection agency with the collection of the claimed debt. In such case Bitpanda Metals will additionally charge EUR 5.00 processing fee for claims between EUR 0 and EUR 500.00 and EUR 10.00 processing fee for claims of more than EUR 500.00. Furthermore, any additional expenses charged by the debt collection agency towards Bitpanda Metals complying with the "Verordnung des Bundesministers für wirtschaftliche Angelegenheiten über die Höchstsätze der Inkassoinstituten gebührenden Vergütungen"  (BGBI Nr. 141/1996 idgF), will be charged to the Bitpanda Client, as long as these are reasonable and necessary to cover adequate prosecution costs.

      11. You have to fully comply with the data disclosure requirements in the payment processes, in particular when paying via SEPA. If you do not comply with the data disclosure requirements Bitpanda Systems cannot match the respective payment with your Bitpanda Client Account with the consequence that a manual tracking process has to start, for which Bitpanda Metals shall charge you a processing fee in addition to any damage claims (if any) according to item 4.3 above.

      12. Bitpanda Metals reserves the right in all cases where a failure occurs with respect to payments from Bitpanda Systems to you, which is in your sphere (e.g. incorrect IBAN provided by you or technical failure of your payment service provider, etc) to transfer instead (parts of) available F- or E-Tokens having the same value in a currency which is legal tender at the time when the failure has occurred. The received F- or E-Tokens completely replace the payment without any further claim.

      13. Bitpanda Metals reserves the right to change, amend and/or disallow accepted payment methods at its own discretion.

      14. You are solely responsible for the accuracy of your own wallet-addresses inside a Bitpanda System and for ensuring that they are correct and kept up to date. Bitpanda Metals assumes no liability whatsoever for any failures of a Bitpanda Client with respect to wallet addresses inside a Bitpanda System.

    9. Right of withdrawal

      1. You must explicitly give up your 14-day right of withdrawal, from which consumers benefit according to section 11 of the Fern- und Auswärtsgeschäfte-Gesetz (FAGG), in order to allow Bitpanda Metals in accordance with section 18 para 1 no 11 FAGG to transfer M-Token before the right of withdrawal expires. Bitpanda System transmits a confirmation of the closed contract to the respective Bitpanda Client according to section 5 para 2 of the FAGG immediately after the CCOFA.

    10. Data Protection

      1. In the course of delivering the negotiated services, Bitpanda Metals is compliant with the GDPR as set forth in the Data Protection Terms.

    11. Risks

      1. You as a Bitpanda Client understand and accept the following risks in connection with using Bitpanda Systems. In particular, but without being limited to these examples, you understand the inherent risks set forth above and hereinafter:

        1. Risk of software weaknesses: The underlying software application and software platform, the Bitpanda Systems, mobile applications and System technology, the smart contract systems and other involved software and technology and technical concepts and theories are still in an early development stage and unproven. There is no guarantee or warranty that the process for receipt, use and ownership of any digital information units will be uninterrupted or error-free and there is an inherent risk that the software and related technologies and theories could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of any digital information units, in particular but not limited to Token, Euros or any value of any cryptographic blockchain-based digital information units.

        2. Regulatory risk: It is possible that certain jurisdictions will apply existing regulations, or introduce new regulations addressing, on blockchain technology-based applications and/or Services, which may have negative influence on the current setup of the Systems and which may, inter alia, result in substantial modifications of the any digital information units/ Bitpanda System technology, including its termination or the loss of any digital information units or any value which any cryptographic blockchain-based digital information units might have. Bitpanda System technology is planned for a market, which is not regulated by financial markets rules. It is the design and intended structure not to fall under any financial market rules and Bitpanda Metals and Bitpanda GmbH intend to design, modify and/or adapt the Bitpanda System technology in such way that financial market rules are not applicable on any digital information units and/or Bitpanda System technology. Respectively within the regulatory risk category also changes in the Bitpanda System technology with respect to such adaptions, amendments and re-designs may cause termination or the loss of any cryptographic blockchain-based digital information units or any value which any cryptographic blockchain-based digital information units might have.

        3. Risk of theft and internet vulnerability: The underlying software application and software platform, the Bitpanda System technology, the smart contract system(s), other involved software, other technology components and/or platforms may be exposed to electronical or physical attacks that could result in theft or loss of cryptographic blockchain-based digital information units, or the theft or loss of private data, impacting the ability to develop, launch or use Bitpanda System technology. You should be aware that SMS/ messages and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Bitpanda Metals or Bitpanda GmbH. You should always log into your Bitpanda Client Account through https://www.bitpanda.com to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice. You should note that phishing attacks often occur despite SMS or email or equivalent services, via search engines or ads in search engines, or other fraudulent links. Neither Bitpanda Metals nor Bitpanda GmbH does take any responsibility for lost Tokens or any other funds due to spoofing, phishing or other equivalent attacks.

        4. Risk of depreciation in value / volatility: The value of M-Token may experience extreme volatility.

        5. General risk: There is no guarantee/warranty whatsoever on precious metals and/or the success of the Bitpanda System technology, expressed or implied, to the extent permitted by law, and that precious metals are obtained at the sole risk of the Bitpanda Client on an “as is” basis and without, to the extent permitted by law, any guarantees/warranties of any kind.

        6. Tax risk: The tax consequences of the allocation or purchase of precious metals as well as the exchange of precious metals, the holding of precious metals, and/or any other action or transaction related to precious metals may have tax implications at the level of a Bitpanda Client; therefore, you should contact your own tax advisors on the tax consequences in connection with the Token and the Bitpanda System technology; by making a Bitpanda Client Offer to Bitpanda Metals, and/or by receiving, using or holding cryptographic blockchain-based digital information units, and to the extent permitted by law, you agree not to hold any associated party (including Bitpanda Metals, Bitpanda GmbH as well as their auditors, contractors, advisors, employees or founders) liable for any tax liability associated with or arising from making an Bitpanda Client Offer, the allocation, use or ownership of precious metals or any other action or transaction related to precious metals.

    12. Warnings

      1. Investing in cryptographic blockchain-based digital information units is highly speculative with a risk of loss of the entire capital invested. Such investment is only suitable for users, who can bear a loss of the entire invested capital.

      2. Investing in cryptographic blockchain-based digital information units means investing in something totally new and unpredictable. Such investment is only suitable for users, who want to take maximum risk.

      3. Cryptographic blockchain-based digital information units are no currencies or means of payment and are neither accepted by states, central banks nor must a private person accept them in any way.

      4. Bitpanda Metals does not take any responsibility for the prices of precious metals and you trade in precious metals at your behalf and risk.

      5. You use the offered Bitpanda Systems at your own risk.

    13. Miscealleanous

      1. Bitpanda group manages the Bitpanda Systems with due care. Nevertheless, systems for the exchange of digital information units combine various new fields of experimental technology and it is very likely that interruptions, failures and other problems occur. Neither Bitpanda Metals nor Bitpanda GmbH gives any guarantee with respect to finding solutions for any such problems as soon as possible. Bitpanda Metals and Bitpanda GmbH assume no responsibility other than to try to find solutions and therefore assume no liability whatsoever for any damage caused by interruptions of a Bitpanda System because any such interruptions are immanent in an experimental field of technology.

      2. You are aware that technology-based systems like Bitpanda Systems need maintenance work and development work and that for such work interruptions of the systems (planned and unplanned) are necessary and system immanent.

      3. Bitpanda Metals shall

        1. via business clients only be liable for any direct and foreseeable damage in the case of intent or in cases physical damages of persons negligently caused by Bitpanda Metals.

        2. via consumers only be liable for any direct and foreseeable damage in the case of intent, gross negligence or in cases of physical damages of persons negligently caused by Bitpanda Metals.

        3. in no case be liable for indirect damages, consequential damages, especially regarding damages to other software, lost profit, pure property damages of a Bitpanda Client or third party damage.

        4. in particular not be liable for damages caused by interruptions of Bitpanda Systems which are necessary for maintenance work or to avoid network disturbances and/or which are caused by inevitable occurrences which are outside Bitpanda Metals's and Bitpanda GmbH’s control (e.g. energy network disturbances; regulatory authority interference or on-site visits; strikes, riots, environmental causes like earthquakes, storms, etc; wars or national or international conflicts with and without arms; international or national sanctions against certain products, services, persons, countries; legal limitations to cryptographic blockchain-based digital information units at any time or place worldwide; network interference, computer failures or criminal activities through third parties (for example hacking).

        5. not be liable for and cannot guarantee that the security certificates displayed on any Bitpanda System are completely secure.

        6. not be liable for any loss of customer data (e.g. due to hacker attacks) which are beyond Bitpanda Metals's and Bitpanda GmbH’s sphere. A Bitpanda Client shall be informed immediately about the loss of data.

        7. assume no liability for (i) stored E-Token in any hot and/or cold wallet for a Bitpanda Client; (ii) information of the Bitpanda Client used for transactions into or out of Bitpanda Systems, (iii) transactions into or out of Bitpanda Systems, (iv) a Bitpanda Client or person using websites, mobile applications or services, not provided by Bitpanda Metals or Bitpanda GmbH such as third party wallet services or any other services of any third party and (v) any user's login data, Bitpanda Client login data, 2FA data, or other user data. In using websites or services, not provided by Bitpanda Metals or Bitpanda GmbH such as wallet services or any other services of any third parties, Bitpanda Metals and Bitpanda GmbH expressly disclaim any liability for the third-party services and are not responsible for the performance of the third-party services or supplier. You as a Bitpanda Client use these services completely at your own risk. Funds sent to such third parties cannot be reverted, as these parties are not willing to. We can and will not check the reliability of these third parties. We have no obligation to contact or solve the problem with any third party.

      4. Bitpanda Metals undertakes to care for the M-Token stored by the Bitpanda Client to the extent to which it is reasonably technically manageable in Bitpanda Systems.

      5. Bitpanda Metals has the right to disclose any data to any competent authority if the data is requested to be disclosed by such authority in order to track or investigate any relevant cases under the Austrian Criminal Code (StGB). Bitpanda Metals reserves the right to cooperate with such authorities to the maximum extent possible.

      6. You accept and confirm with each transaction hereunder that you accept and confirm these GTC in the current form.

      7. If one or more of the provisions of these GTC or one or more of the schedules hereto are or will become invalid or unenforceable, or if one or more of the provisions of these GTC or one or more of the schedules hereto are or will become incomplete, the other provisions of these GTC and the schedules hereto will remain valid without limitation, save that the main obligations of the parties hereunder remain unaffected. Such provision – having been found illegal or unenforceable in whole or in part, shall be ineffective solely to the extent of such determination of invalidity or unenforceability only with respect to the jurisdiction in which it has been found illegal or unenforceable, without having any effect on any other jurisdiction. Each invalid or unenforceable provision shall be replaced or completed by a valid and enforceable provision in such a way that the new provision closely reflects the legal and economic effects the parties have concurrently aimed at in the invalid or unenforceable provision.

      8. Changes to and amendments of these GTC, including this clause, may be made by Bitpanda Metals at any time and become effective at the earlier of (i) the Bitpanda Client accepts online the amended GTC or (ii) within 1 month after having published such changes or amendments.

      9. The GTC exclusively govern the relationship between you and Bitpanda Metals and supersede any prior statements or agreements. Any terms and conditions (AGB) of you are excluded from being applicable on the relationship between you and Bitpanda Metals.

      10. The failure of Bitpanda Metals to enforce or to exercise, at any time or for any period of time any term of or any right or remedy arising pursuant to or under the GTC shall not constitute, and shall not be construed as, a waiver of such term or right or remedy and shall in no way affect Bitpanda Metals' right to enforce or exercise it later, provided that such right is not time barred, expired or precluded. Any waiver to this effect must be explicitly made in writing.

      11. Bitpanda Metals and you agree on English language with respect to our communication. Subject to the German terms in brackets referring to Austrian legal terms (which shall be interpreted only with respect to their meaning under Austrian law and with respect to the German language term in brackets), any other language used shall be only used for purposes of convenience. Respectively every communication or notice shall be made in English language. The English language version of these GTC is the prevailing version.

      12. The GTC and any transaction hereunder shall be governed by and construed in accordance with the laws of the Republic of Austria to the exclusion of the provisions of the United Nations Convention on the International Sale of Goods and without giving effect to any statutory conflict of law provisions or rules that would cause the application of the law of any jurisdiction other than Austria.

      13. Any and all disputes or divergences or claims shall be exclusively dealt with the court having pertinent competence for 1010 Vienna.

    Annex I

    Definitions

    2FA Means the proof of identity of a Bitpanda Client by combining two different and independent components (factors).
    Bitpanda Client has the meaning given to it in point 2.2.
    Bitpanda Client Account has the meaning given to it in point 4.1.
    Bitpanda Client Offer has the meaning given to it in point 3.1.4.
    Bitpanda Metals has the meaning given to it in point 1.1.
    Bitpanda Savings has the meaning given to it in point 3.1.2.
    Bitpanda Swap has the meaning given to it in point 3.1.3.
    Bitpanda Systems has the meaning given to it in point 1.1.
    Bitpanda To Go has the meaning given to it in point 7.1.
    Business Day Is a working day on which Austrian credit institutions are open to the public.
    CCOFA or Contract Conclusion and Order Fulfillment Action has the meaning given to it in point 3.1.5.
    Cooperation Voucher has the meaning given to it in point 6.1.
    Default in Payment has the meaning given to it in point 3.1.5.
    E-Token has the meaning given to it in point 3.1.
    F-Token has the meaning given to it in point 3.1.
    Fiat Wallet has the meaning given to it in point 4.5.
    Final Offer Click has the meaning given to it in point 3.1.1.
    Final Offer Click Savings has the meaning given to it in point 3.1.2.
    Final Offer Click Swap has the meaning given to it in point 3.1.3.
    Final Offer Clicks has the meaning given to it in point 3.1.2. and 3.1.3.
    Final Rate has the meaning given to it in point 8.1.
    M-Token has the meaning given to it in point 3.1.
    Multiple Debit Order has the meaning given to it in point 3.1.2.
    Offer Period has the meaning given to it in point 3.1.4.
    Price Guarantee has the meaning given to it in point 3.1.1.
    Reference Period has the meaning given to it in point 4.7.
    Services has the meaning given to it in point 1.2.
    Token has the meaning given to it in point 3.1.
    Token Voucher has the meaning given to it in point 7.1.
    Wallet has the meaning given to it in point 4.5.
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