For the avoidance of doubt, please be informed that Annex IV of the Bitpanda General Terms and Conditions contains the same provisions as these Terms. In case of discrepancies, these Terms shall prevail over Annex IV of the Bitpanda General Terms and Conditions.
(applicable as of 29 December 2021)
1.1 Bitpanda GmbH is a company with limited liability established and existing under the laws of Austria, having its registered seat in Vienna, and its registered business address at Stella-Klein-Löw Weg 17, A-1020 Vienna, Austria registered in the Austrian Companies Register under registration number FN 423018 k ("Bitpanda").
1.2 Bitpanda and its subsidiaries provide online services and products in relation to digital assets. Bitpanda operates an ecosystem that comprises all services and products offered by Bitpanda and its subsidiaries, in particular on the platform www.bitpanda.com and via Bitpanda Apps there ("Bitpanda Ecosystem").
1.3 As part of the Bitpanda Ecosystem, Bitpanda offers to certain of its customers to participate in a loyalty programme ("Bitpanda Loyalty Programme") maintained by Bitpanda.
1.5 By accepting these Terms, you confirm to have carefully reviewed and accepted these Terms and fully understand the scope, functions and requirements of the Bitpanda Loyalty Programme. By accepting these Terms, you further confirm to have carefully reviewed and accepted the BEST Terms (as defined below) and fully understand the functionality of BEST, being a pure trade token issued by Bitpanda.
1.6 Bitpanda provides its solutions and products also inter alia for bank, fintechs and asset managers who use the Bitpanda infrastructure to enable the trading of digital assets, Bitpanda Stocks and metals available on Bitpanda on their respective platforms and frontends (“White Label Partner”). For the avoidance of doubt, any and all benefits potentially and voluntarily granted by Bitpanda under the Bitpanda Loyalty Programme are solely granted to Bitpanda Clients, excluding any users of any White Label Partner regardless of whether a Bitpanda account is created for them as part of using the White Label Partner platform or not.
2. Definitions, Interpretation
2.1 In these Terms, and unless the context otherwise requires, the following terms shall have the following meaning:
|Bitpanda||as defined in section 1.1.|
|Bitpanda Ecosystem||as defined in section 1.2.|
|Bitpanda Loyalty Programme||as defined in section 1.3.|
|Terms||means these Bitpanda Loyalty Programme Terms, which exclusively regulate the participation in the Bitpanda Loyalty Programme and to which the Participant must adhere if he/she wishes to participate in the Bitpanda Loyalty Programme.|
|BEST||means the trade-only token issued by Bitpanda. Best are exclusively governed by the BEST Terms. For more information see https://www.bitpanda.com/en/legal/bitpanda-ecosystem-token-best-2-0-terms-explanatory-notes.|
|BEST Terms||Bitpanda Ecosystem Token 2.0 "BEST 2.0" Terms which exclusively and comprehensively govern the relationship between Bitpanda and any holder of BEST.|
|Bitpanda Broker||means the systems provided by Bitpanda for the exchange of (i) cryptographic blockchain-based digital information units ("E-Token"), (ii) fiat token ("F-Token”), (iii) financial derivative contracts in relation to stocks or shares in exchange traded funds ("A-Token"), (iv) precious metals (“M-Token”) or (v) the sale and purchase of Token with a currency that is legal tender (gesetzlich anerkanntes Zahlungsmittel) that is not Bitpanda Pro For more information see https://www.bitpanda.com/en/legal/bitpanda-general-terms-conditions.|
|Bitpanda Broker Wallet||means an access software that is integrated into the Bitpanda Broker platform and allows Bitpanda Clients to store, send, receive and retrieve digital assets. For more information see https://www.bitpanda.com/en/legal/bitpanda-general-terms-conditions.|
|Bitpanda Client||means each user who has an active account on the Bitpanda platform and has gone through the necessary identification and verification process. For more information see https://www.bitpanda.com/en/legal/bitpanda-general-terms-conditions.|
|Bitpanda Pro||means the additional service of Bitpanda, offering an exchange service enabling you to obtain prices for your purchases and sales of E-Token, including an order book exchange platform for various E-Token and F-Token trading pairs. For more information see https://www.bitpanda.com/en/legal/bitpanda-general-terms-conditions.|
|Company Partner||means all companies and organizations that cooperate with Bitpanda in order to offer Bitpanda clients benefits, discounts or other advantages in the course of this Bitpanda Loyalty Programme. A list of Company Partners is available at https://www.bitpanda.com/en/affiliate-program.|
|Consumer||means a consumer within the meaning of the Consumer Rights Directive (Directive (EU) 2011/83/EU) or the Austrian Consumer Protection Act (Konsumentenschutzgesetz).|
2.2 In these Terms, and unless the context otherwise requires, the following rules of interpretation and construction shall apply:
i) Words denoting one gender shall include each gender and all genders;
ii) the titles and headings to sections are inserted for convenience of reference only, and are not intended to be a part of or to affect the meaning or interpretation of these Terms.
iii) the terms hereof, herein, hereby, hereto and derivative or similar words refer to these Terms;
iv) terms to which a German translation has been added in brackets shall be interpreted as having the meaning assigned to them by the German translation;
v) any reference to a day shall mean a period of 24 hours running from midnight to midnight (except for the days of time change lasting 25 or 23 hours, which days shall be 25 or 23 hours respectively);
vi) references to any statutory provision or to a legal or accounting principle shall include a reference to that provision or principle as amended, consolidated or replaced from time to time (whether before or after the date of these Terms) and any subordinate legislation (including regulations) made under the relevant law;
vii) references to any other agreements, terms and conditions or to another legal document shall include a reference to such other agreement, terms and conditions or to such other legal document as amended, consolidated or replaced from time to time (whether before or after the date of these Terms);
viii) except where otherwise provided, references to time are to CET (Central European Time);
ix) any phrase introduced by the terms including, include, in particular or any similar expression shall be construed as illustrative and shall be deemed to read "including without limitation";
x) any reference to writing or written means any method of reproducing words in a legible and non-transitory form (including email). Clicking on a button also fulfils the written and text form requirement. In this case, the declaration written on the button is made.
3. Participants, BEST
3.1 Participation in the Bitpanda Loyalty Programme is free and open to any Bitpanda Client, who complies with the following requirements (each such person, a "Participant"): (i) it has sufficient legal authority and capacity, (ii) it resides in a country that legally permits participation in the Bitpanda Loyalty Programme and (iii) it has accepted these Terms and the BEST Terms.
4. Bitpanda Loyalty Programme Benefits
4.1 Until further notice and subject to sections 5 (Term / Termination) and 8.5 (Changes), Participants may benefit from the loyalty benefits set out in Annex 1 hereto. Annex 1 shall be an integral part of these Terms.
4.2 The extent to which a Participant may benefit under the Bitpanda Loyalty Programme depends on certain factors, for instance the number of BEST held by such Participant or the trading and investment activity on the Bitpanda Broker platform, as further set out in Annex 1.
4.3 Bitpanda emphasizes that BEST rewards any and all actual or contingent other benefits under the Bitpanda Loyalty Programme do not represent claims on or against Bitpanda and/or any of its affiliates and shall not be deemed legally binding. Participants shall therefore not have any claims against Bitpanda and/or any of its affiliates in relation to any actual or contingent benefits or perks voluntarily granted by Bitpanda under the Bitpanda Loyalty Programme.
4.4 No participant shall have a claim against Bitpanda for cash redemption or replacement by Bitpanda of any equivalent value of the benefits, rewards or other perks provided to the Participant via this Bitpanda Loyalty Programme.
5. Term / Termination
5.1 The validity of these Terms shall commence upon acceptance, but no earlier than from 16.12.2021. Participants may terminate participation in the Bitpanda Loyalty Programme at any time with immediate effect by notifying Bitpanda in text form.
5.2 Bitpanda may only terminate this Bitpanda Loyalty Programme by giving 8 weeks' notice period, unless the termination is for good cause (inter alia but not limited to regulatory reasons, change in law, order of any national competent authority, economic reasons; etc). The termination shall be in text form and shall be displayed to the Participants via the Bitpanda account. Until effectiveness of the termination, Bitpanda shall maintain the Bitpanda Loyalty Programme in accordance with its terms. In the event of termination for good cause, Bitpanda shall be entitled to immediately cease to maintain the Bitpanda Loyalty Programme.
5.3 Bitpanda reserves the right to exclude individual Participants from participation in the Bitpanda Loyalty Programme for good cause with immediate effect with or without notice – including, in particular, in the event of attempted fraud by a Participant.
6. Liability and Warranty
6.1 Bitpanda's liability is limited to damages caused by gross negligence and intent. This limitation of liability shall not apply to damage due to loss of life, physical integrity, impairment of the health of persons or to claims arising from any primary obligation of Bitpanda (i.e. to give the opportunity – until further notice – to participate in the Loyalty Programme to the Participant) or claims under the Austrian Product Liability Act (Produkthaftungsgesetz). The liability set out in this section 6.1 should not be limited by any other sections of these Terms.
6.2 Bitpanda shall not be liable for damages arising from, (i) the typical risks of the extreme volatility of crypto assets such as the BEST, (ii) fault of third parties or due to non-attributable interruption of the availability of Bitpanda systems, (iii) (transaction) losses made using fraudulently acquired payment data, private keys , passwords or other contractual data (e. g. "phishing" of credit card data, identity theft, etc.).
6.3 Bitpanda shall not be responsible for any failure or non-delivery of its services if such failure or non-delivery is due to circumstances beyond Bitpanda's control (without Bitpanda being at least negligently in breach of a related contractual obligation). Such circumstances may include, but are not limited to, disruptions in the operation of Bitpanda's systems as a result of changes in the law, governmental or regulatory actions, acts of war, terrorism, strikes, physical obstructions, lockouts and natural disasters.
6.4 Bitpanda makes no warranties or representations, either expressed or implied, with respect to type, quality or fitness of goods or services provided through the Bitpanda Loyalty Programme or by Company Partner. Bitpanda shall in particular not be liable for any benefits or perks from Company Partners to which the Participant gains access through this Bitpanda Loyalty Programme. The foregoing applies in particular in cases where Bitpanda or a Company Partner is in economic crisis or insolvency.
6.5 For each Participant, who qualifies as Consumer, nothing in these terms excludes or limits any applicable statutory Austrian warranty rights vis-à-vis Bitpanda, unless otherwise agreed in individual contracts.
Any benefits, perks or rewards under this Bitpanda Loyalty Programme may be subject to income tax or other taxes or fees for Participants. Each Participant is solely responsible for payment of all such taxes and for disclosure to third parties. Bitpanda will never be liable for any tax liabilities, levies or other charges in connection with the benefits, perks or payouts of Rewards and other benefits to Participants.
8.1 This document is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction.
8.2 Should the Participant, for technical or any other reason, mistakenly receive benefits or perks from this Bitpanda Loyalty Programme, Participant is obliged to inform Bitpanda about this immediately. Bitpanda is entitled to reclaim these falsely obtained benefits or advantages - if they are refundable - and the Participant is obliged to return them.
8.3 The basis for the determination of rights and obligations in connection with BEST, results exclusively from the associated BEST Terms (https://www.bitpanda.com/en/legal/bitpanda-ecosystem-token-best-2-0-terms-explanatory-notes). In this context, Bitpanda shall in any case only be subject to the obligations to which Bitpanda has expressly committed itself in the BEST Terms. Should any one or more of the provisions or any part of a provision of these Terms be or become void, illegal or unenforceable, then the validity, legality or non-enforceability of the remaining provisions of these Terms shall not be affected thereby.
8.4 If the Participant is not a Consumer, the parties shall use reasonable efforts to agree upon a new provision which shall, as nearly as possible, have the same commercial effect, meaning and spirit as the ineffective provision and to the purpose of this Terms. To the extent permitted by applicable law, each party waives any provision of law which renders any provision of these Terms invalid, illegal or unenforceable in any respect. This section 8.4 is not applicable in case that you are a Consumer.
8.5 Changes to these Terms, including this section and Annex 1, may be made by Bitpanda if it is legally required or it does not affect a primary obligation or worsen your legal position, at any time and will apply to you if (i) you expressly agree to the new Terms or (ii) you do not object and remain silent for 8 weeks from the date Bitpanda publish the changes. In this case, however, Bitpanda will inform you separately and in advance of the consequences for you that if you remain silent for 8 weeks, Bitpanda will consider this as agreement to the changes of these Terms.
8The Participant is obliged to inform Bitpanda immediately of any change of its email address. Bitpanda will send legally significant declarations (rechtlich bedeutsame Erklärungen) to the last e-mail address indicated by the Participant. As long as the Participant does not inform Bitpanda of its new e-mail address, legally significant declarations (rechtlich bedeutsame Erklärungen) are deemed to have been delivered to the Participant, provided that they are actually transmitted to the e-mail address that was the last e-mail address indicated by the Participant. Furthermore, delivery to the e-mail address follows the same rules as delivery by post, so that absences due to holidays or illness can lead to a later fictitious delivery.
These Terms and all rights and obligations of the parties arising out of or in connection with these Terms shall be governed by and construed in accordance with Austrian law excluding the conflict of law rules and excluding the United Nations Convention on Contracts for the International Sale of Goods from 11.04.1980 (CISG), unless you acquired BEST from Bitpanda in your capacity as Consumer, in which case any mandatorily applicable laws apply to these Terms in addition, superseding any contrary Austrian law.
The competent court in 1010 Vienna, Austria, having jurisdiction over the subject-matter shall have exclusive jurisdiction to settle any disputes arising out of or in connection with these Terms or related to its creation, validity, nullity, interpretation, performance and termination as well as its pre- and post-contractual effects, unless otherwise provided by mandatory law, unless you acquired BEST from Bitpanda in your capacity as Consumer, in which case any mandatory jurisdiction supersedes this jurisdiction clause.
Until further notice and subject to sections 5 (Term / Termination) and 8.5 (Changes) above, Participants may benefit from the loyalty benefits set out in this Annex 1. You acknowledge and accept that any Bitpanda Loyalty Programme Benefits and the eligibility criteria to receive Bitpanda Loyalty Programme Benefits are not guaranteed, may be delayed, changed or amended by Bitpanda anytime in its sole discretion. Furthermore, the roll-out and go-live of the Bitpanda Loyalty Programme, or certain Bitpanda Loyalty Programme Benefits may be delayed, suspended, canceled or changed. Any reference in this Annex 1 to "section" shall be construed as reference to a section of this Annex 1 unless the context clearly states otherwise.
1 VIP Levels
1.1 A Participant may benefit from rewards, perks and advantages under the Bitpanda Loyalty Programme depending on such Participant reaching "VIP status" as outlined in section 1.2. Reaching VIP status depends on the number of BEST held in the Bitpanda Broker Wallet by a Participant from time to time.
1.2 There are further certain VIP levels depending on the number of BEST held from time to time above the minimum threshold, as outlined in the following table:
|BEST VIP level||Required holdings of BEST|
|Level 1||min. 10 BEST|
|Level 2||min. 1,000 BEST|
|Level 3||min. 5,000 BEST|
|Level 4||min. 10,000 BEST|
|Level 5||min. 50,000 BEST|
2 Bitpanda Loyalty Programme Benefits
2.1 BEST VIP Level 1
Participants holding at least 10 BEST will reach VIP Level 1. Participants with VIP Level 1 are eligible for the following benefits:
2.2 BEST VIP Level 2
Participants holding at least 1,000 BEST will reach VIP Level 2. Participants with VIP Level 2 are eligible for the following benefits:
2.3 BEST VIP Level 3
Participants holding at least 5,000 BEST will reach VIP Level 3. Participants with VIP Level 3 are eligible for the following benefits:
2.4 BEST VIP Level 4
Participants holding at least 10,000 BEST will reach VIP Level 4. Participants with VIP Level 4 are eligible for the following benefits:
2.5 BEST VIP Level 5
Participants holding at least 50,000 BEST will reach VIP Level 5. Participants with VIP Level 5 are eligible for the following benefits:
3 Partner Benefits
3.1 Participants with a VIP Level get exclusive access to perks and benefits from Company Partners. Please find an exemplary, non-binding list of benefits below:
i) discounts on Company Partners’ products;
ii) early access to Company Partners’ products and services;
iii) being rewarded with BEST for performing certain one-time actions, such as improving your Bitpanda account security via a Company Partner.
Depending on your BEST VIP level, Company Partner rewards may become more significant and more exclusive.
3.2 You can find the participating Company Partners, as well as the terms and conditions of their perks and benefits on the Bitpanda website or blog.
4 VIP Asset Votings
4.1 Participants from VIP Level 2 and higher have a vote in deciding which digital assets (cryptocurrencies, stocks or metals) should be offered and traded in future on the Bitpanda platform (“VIP Asset Voting”). No other voting rights are connected to the VIP Asset Voting. For the avoidance of doubt, the Participant has neither voting rights in Bitpanda or any of its affiliates or its governance, strategy and similar nor to any profit distributions or company decisions of any kind.
4.2 For this purpose, Bitpanda will conduct VIP Asset Voting on a regular basis. As soon as a new VIP Asset Voting goes live, Bitpanda will inform about it on social media and/or a blog post.
4.3 Participants (with VIP Level 2 or higher) who are eligible to vote will be informed about all further voting processes the first time they log in to their Bitpanda account via pop-up.
4.4 For purposes of voting, each Participant with VIP Level 2 or higher may vote one time (for single choice votings) or multiple times (for multiple choice votings). Any amount of BEST held by an eligible Participant above the required VIP Level 2 threshold shall not be relevant for voting purposes and therefore does not confer more voting power.
4.5 The voting results are published anonymously by Bitpanda as a blog post https://blog.bitpanda.com/en and/or on other Bitpanda mediums such as Bitpanda’s social media channels or Bitpandas website.
4.6 Following the results of the votes cast for a potential listing of a digital asset in the course of a VIP Asset Voting, Bitpanda will make reasonable efforts, but does not guarantee, to offer (or not offer) such asset via the Bitpanda Platform in the future.
4.7Voting for a certain digital asset does not oblige Bitpanda to offer (or not offer) such asset via the Bitpanda Platform (or otherwise) at any point in time.
5.1 From 3. January 2022 until the gradual go-live of the new BEST rewards system (as set forth in sections 5.3 to 5.16) in the first quarter of 2022 as will be communicated by Bitpanda in a blog post and/or on other Bitpanda mediums such as Bitpanda’s social media channels or Bitpandas website, the following BEST rewards structure as set forth in these sections 5.1 and 5.2 shall apply. Participants, who (i) hold BEST in the Bitpanda Broker Wallet, (ii) trade at least once monthly and (iii) actively claim the monthly BEST rewards, shall be entitled to receive the following BEST rewards according to their BEST holdings in the Bitpanda Broker Wallet:
|BEST VIP level||BEST Rewards|
|Less than 10 BEST (but more than 0)||0.5% per month|
|Level 1||0.5% per month|
|Level 2||0.5% per month|
|Level 3||0.55% per month|
|Level 4||0.60% per month|
|Level 5||0.65% per month|
5.2 In addition to the above, you may be entitled to receive BEST rewards up to an additional 0.35% depending on your total amount traded in the previous month on the Bitpanda Broker - that is your trade activity from the 1st day of the previous month at 00:00 am CET, until the last day of the month at 11:59:59 pm CET. Any trading volume generated outside of Bitpanda Broker will not be taken into account. For the avoidance of doubt, it is hereby stated and clarified that any trading volume generated on Bitpanda Pro therefore will not be taken into account for the calculation of the BEST rewards. The rewards based on the Monthly Trading Volume are structured as follows:
(>=) €1,000: +0.05% per month;
(>=) €5,000: +0.15% per month;
(>=) €10,000: +0.25% per month;
(>=) €50,000: +0.35% per month;
5.3 From the go-live date of the Bitpanda Loyalty Programme in the first quarter of 2022 as will be communicated by Bitpanda in a blog post and/or on other Bitpanda mediums such as Bitpanda’s social media channels or Bitpandas website sections 5.1 to 5.2 will cease to be applicable and will be replaced by these sections 5.3 to 5.16 for an indefinite period of time unless terminated or modified by Bitpanda. Participants may from that date onwards be entitled to collect BEST through the BEST rewards system as set out in these sections 5.3 to 5.16. To be eligible to do so, a Participant must (i) have a VIP Level status as outlined in section 1.2, (ii) hold such number of BEST required for the VIP Level in their Bitpanda Broker Wallet (not Bitpanda Pro), (iii) trade at least one digital asset once a week on the Bitpanda Platform (iv) actively accept these Terms and (v) actively claim these BEST Rewards.
5.4 If any of these requirements are not met at the time of claiming, or if the Participant does not actively claim BEST rewards, the Participant will not receive any BEST rewards. A retroactive claim of BEST rewards is excluded in any case.
5.5 At the end of every week (Monday-Sunday), (i) a user’s respective BEST holdings, (ii) BEST VIP Level and (iii) weekly trading volumes are determined via a snapshot. This event will always take place every Sunday at 23:59:59. Bitpanda intends to credit BEST rewards to the respective Bitpanda BEST wallet on the following Monday for the previous week. You acknowledge and agree that said credit may be delayed and Bitpanda shall not be liable for any losses arising out of or in connection with a late credit of BEST Rewards (e.g. losses due to price changes).
5.6 Active claiming of BEST rewards must be done as displayed in the user interface by actively tapping the claim button.
5.7 Participants who meet the requirements of section 5.3 are eligible to collect weekly rewards in the amount of 0.10% of their BEST holdings at the time of the snapshot as set forth in section 5.5.
5.8 Participants from VIP Level 2 upwards can further claim BEST according to their VIP Level as set out in section 5.9 on a weekly basis in addition to the weekly Rewards as outlined in section 5.7.
5.9 The following table sets out the percentage rate of the additional collection of weekly BEST rewards for Participants with VIP Level 2 or higher:
|BEST VIP level||Additional % of BEST Rewards|
|Level 2||+0.025% per week|
|Level 3||+0.05% per week|
|Level 4||+0.075% per week|
|Level 5||+0.10% per week|
5.10 In addition to the above, all Participants that fulfill all criteria as set forth in section 5.3 are eligible to receive further weekly BEST rewards if certain thresholds in trading volume are reached (as set out below in section 5.12 and 5.14). The additional percentage amount therefore depends on (i) the Participant’s trading volume and (ii) the type of digital asset class traded on the Bitpanda Broker platform the previous week. The previous week is the week that ended before the week in the sense of 5.5 in which the BEST rewards are claimed. The BEST rewards percentages refer to the BEST holdings in the Bitpanda Broker Wallet (not Bitpanda Pro) of the respective Participant at the moment of active claiming by the Participant.
5.11 The following trading volumes apply to the digital asset classes of cryptocurrencies (E-Token) and metals (M-Token). The trading volume is calculated from the equivalent value of the digital assets at the time of trading with the price displayed on Bitpanda Broker.
5.12 The weekly trading volumes of classes mentioned in section 5.11 are added together and must exceed or exactly meet the following thresholds to collect additional BEST rewards:
(>=) €1,000: +0.01% per week;
(>=) €3,000: +0.025% per week;
(>=) €10,000: +0.05% per week;
(>=) €30,000: +0.075% per week;
5.13 The following investment volumes apply to the digital asset classes of Bitpanda Stocks (A-Token). The investment volume is calculated from the equivalent value of the digital assets at the time of investing at the price displayed on Bitpanda Broker.
5.14 The weekly volumes of classes mentioned in section 5.13 are added together and must exceed or exactly meet the following thresholds to collect additional BEST rewards:
(>=) €3,000: +0.01% per week;
(>=) €10,000: +0.025% per week;
(>=) €30,000: +0.05% per week;
(>=) €100,000: +0.075% per week;
5.15 Via the Instant Trade Bonus feature, Participants may be entitled to collect further BEST rewards between 0.005% and 0.25% (depending on the asset the Participant has traded or invested in) of the Participant’s volume in BEST - added instantly after every transaction to the users Bitpanda BEST wallet (“Instant Trade Bonus”). The amount of BEST rewards collected via the Instant Trade Bonus is adjusted according to the Participants VIP level. The higher the VIP level, the more BEST rewards the Participant may be entitled to collect. The following table sets out the percentage rate of the additional collection of BEST rewards via the Instant Trade Bonus:
|VIP Level & Instant Trade Bonus / Asset Class ||1||2||3||4||5|
5.16 BEST rewards are designated to function as a loyalty programme for users being active on Bitpanda Broker. BEST rewards therefore explicitly:
For the avoidance of doubt, it is hereby clarified that this loyalty programme is performed only on Bitpanda Broker and in course of the Bitpanda Loyalty Programme and is neither linked nor incorporated in BEST itself.
5.17 Bitpanda may amend or terminate Best rewards anytime at its sole discretion and can withhold, pause or cancel payout of rewards, also if accrued and already claimed by you, anytime and you do not have any legal claim against Bitpanda in such case.
5.18 Whether the distribution of BEST rewards triggers tax consequences (such as, for example, income tax or value added tax consequences) depends, inter alia, on the tax laws applicable in your state of residence and/or whether you qualify as an entrepreneur or not. Please contact your own tax advisor with regards to any tax consequences in connection with the Bitpanda Loyalty Programme.
5.19 Bitpanda will strive to ensure that any numbers and figures within your Bitpanda Broker dashboard (such as but not limited to current BEST VIP level, amount of BEST rewards) are true and accurate at all times. However, due to technical or other issues, discrepancies between displayed and actual numbers and figures might occur. You hereby acknowledge and accept that any numbers and figures displayed within your Bitpanda Broker dashboard are no binding determinants regarding the actual numbers and figures. Furthermore, you hereby acknowledge and accept that Bitpanda will not be liable for any direct or indirect losses resulting out of any such discrepancies and that no right or claim against Bitpanda can arise thereof.
6 Bitpanda Card Benefits
6.1 Depending on the BEST VIP Level as set out in section 1.2, Participants, provided they have a Bitpanda Card, enjoy several additional benefits such as e.g. free ATM withdrawals, a reduced exchange fee ("FX"), and cashback in digital assets. For further information on the Bitpanda Card please see section 11 of the Bitpanda General Terms and Conditions (https://www.bitpanda.com/en/legal/bitpanda-general-terms-conditions) and the Contis Bitpanda Card Account Terms and Conditions (https://www.bitpanda.com/en/legal/bitpanda-card-account-terms-conditions).
6.2 VIP Level Card Benefits:
|BEST VIP level||Bitpanda Card benefits|
|No BEST VIP Level|
• 2.50% FX fee
• No further Bitpanda Card benefits available
• 2.50% FX fee
• No further Bitpanda Card benefits available
• 2.50% FX fee
• No further Bitpanda Card benefits available
• 1.75% FX fee
• 1 ATM withdrawal per month free of charge
• 0.5% cashback
• 1.00% FX fee
• 5 ATM withdrawal per month
• 1.00% cashback
• 0.25 % FX fee
• Unlimited ATM withdrawal per month free of charge
• 2.00% cashback
6.3 Bitpanda is neither responsible nor liable if certain ATMs charge any additional fees for withdrawals.
7 Bitpanda VIP Customer Support
7.1 As a BEST VIP Level 5 Participants, you are automatically eligible for the Bitpanda Plus programme (for further information to Bitpanda Plus programme click here https://www.bitpanda.com/en/plus). As a Plus user, you will receive exclusive support with personalised updates about new products, increased limits for deposits and withdrawals and have a direct impact on upcoming features and asset listings. Please find an exemplary, non-binding list of benefits below:
i) Exclusive support by Bitpanda Plus key account managers;
ii) Get increased limits for deposits and withdrawals;
iii) Direct impact on upcoming features and asset listings;
iv) Personalised updates about new features & products;
v) Exclusive discounts and reduced trading premiums and payment fees upon request;
vi) Ability to block specific deposit and payout methods.
8 VIP Affiliate Bonus
8.1 Bitpanda offers an affiliate programme (for further information on the Bitpanda affiliate programme click here https://www.bitpanda.com/en/affiliate-program).
8.2 Participants will receive higher commissions if they successfully recruit customers while maintaining the required VIP level status (VIP Level 1 and higher as outlined in section 1.2).
8.3 The following percentages of revenue share are available for Participants with VIP Level 4 or higher:
|BEST VIP level||% of Revenue Share|
|Level 1||+10% per week |
|Level 2||+10% per week |
|Level 3||+10% per week |
|Level 4||+14% per week |
+18% per week
9 Lower Deposit Fees
9.1 Bitpanda offers a debit Card ("Bitpanda Card") (for further information to Bitpanda Card please see section 6 of Annex 1 to these Terms and section 11 of the Bitpanda General Terms and Conditions (https://www.bitpanda.com/en/legal/bitpanda-general-terms-conditions and the Contis Bitpanda Card Account Terms and Conditions (https://www.bitpanda.com/en/legal/bitpanda-card-account-terms-conditions).
9.2 Participants with VIP Level 4 or 5 (as outlined in section 1.2) who have a Bitpanda Card will receive 20% discount on credit card payment fees and 25% discount fees for SOFORT transfers when depositing funds on Bitpanda, as long as they have the required VIP Level at the time of deposit.
10 Deflationary Measures
10.1 Bitpanda takes measures for BEST’s deflation to stabilise BEST’s intrinsic value: Bitpanda burns BEST in the amount of 25% of the collected trading premiums by BEST holders with a VIP level. This burning process is intended to be repeated monthly until a maximum of 75% of the total BEST (out of 1 billion BEST originally issued) has been burned (“BEST Stimulus and Burn).
10.2 Any deflationary measures do not represent a claim on or against (Forderung gegenüber) Bitpanda or any of its affiliates. Bitpanda may terminate, withhold or pause any deflationary measure anytime at its sole discretion and you do not have any legal claim against Bitpanda in such case.