General Terms and Conditions
Bitpanda GmbH

Version 10.0.1, published 9 May 2022

1. General Provisions

1.1. The general terms and conditions herein ("Bitpanda GmbH TC") shall be applicable to all business relations between Bitpanda GmbH, with its corporate seat in A-1020 Vienna, Stella-Klein-Löw Weg 17, registered with the Austrian Commercial Register under registration number FN 423018 k ("Bitpanda GmbH") and its clients, in particular for transactions and business relationships with/on any online or electronic platform (e.g. https://www.bitpanda.com/ and https://exchange.bitpanda.com) or mobile application of Bitpanda GmbH and associated APIs of such platform or application. 

1.2. Bitpanda GmbH also offers services in cooperation with third parties and/or Affiliates, such as Bitpanda Metals GmbH, Bitpanda Financial Services GmbH, Bitpanda Payments GmbH.

1.3. The provisions of the general terms and condition of Bitpanda ("Bitpanda GTC") as well as the Annexes and Definitions of Bitpanda GTC, available under (https://www.bitpanda.com/en/legal/bitpanda-group-general-terms-conditions) are hereby agreed upon. 

1.4. Loyalty Programme Terms: For the terms and conditions of the Bitpanda Loyalty Programme please refer to Annex I to these Bitpanda GmbH TC.

2. Amendments to the Bitpanda GmbH TC

2.1. Changes to and amendments of the Bitpanda GmbH TC, including this point, may be made by Bitpanda at any time and become effective 

2.1.1 if no specific effective date is indicated by Bitpanda GmbH: at the earlier of (i) the Bitpanda Client explicitly accepting the amended Bitpanda GmbH TC (for example on Bitpanda Systems) or (ii) one month having passed after publishing such changes or amendments (e.g. by sending a copy to the Bitpanda Client or publishing on Bitpanda's websites), subject to the Bitpanda Client not objecting under point 2.2; respectively

2.1.2 if a specific effective date (after the publish date) is indicated by Bitpanda GmbH: at the later of (i) the specified effective date and the (ii) earlier of (a) the Bitpanda Client explicitly accepting the amended Bitpanda GmbH TC(for example on Bitpanda Systems) or (b) one month having passed after publishing such changes or amendments (e.g. by sending a copy to the Bitpanda Client or publishing on Bitpanda's websites), subject to the Bitpanda Client not objecting under point 2.2. 

2.2. The Bitpanda Client's consent shall be deemed granted if Bitpanda GmbH does not receive an objection from the Bitpanda Client in writing or electronically (e.g. by e-mail or via the Bitpanda Client Account). In the amendment offer, Bitpanda GmbH shall bring to the Bitpanda Client's attention that (i) its silence by failing to object in writing or electronically (e.g. by e-mail or via the Bitpanda Client Account) within the deadline set out in points 2.1.1 and 2.1.2 shall be deemed as consent to the amendments, as well as that (ii) the Bitpanda Consumer Client shall have the right to terminate its contract and the services agreed under the contract without notice until the amendments take effect.

2.3. An increase in the Bitpanda Client's fees or a limitation of Bitpanda's services in the Bitpanda GmbH TC can only be effected with the express consent of the Bitpanda Consumer Client. Further, vis-à-vis Bitpanda Consumer Clients and unless express consent is obtained, changes to the Bitpanda GmbH TC shall in any case be minor and reasonable for the Bitpanda Consumer Client, shall not affect any main service obligations and shall only affect changes that are necessary and objectively justified in order to offer our services in the best possible way and to protect our customers’ interests.


3. Bitpanda Broker 

3.1. After successful completion of your Client Verification Process (in accordance with point 4 of the Bitpanda GTC), you will gain access to the trading platform on Bitpanda Systems ("Bitpanda Broker").

3.2. Bitpanda GmbH offers in its own name the following assets on Bitpanda Broker: 

3.2.1. proprietary token in the form of vouchers (Gutschein) to obtain products and services on Bitpanda Systems, issued by Bitpanda GmbH and denominated in various currencies ("F-Token”) for sale against payment with a currency that is a legal tender (gesetzlich anerkanntes Zahlungsmittel); and

3.2.2. selected cryptographic digital assets, such as, but not limited to, Bitcoin, Dash, Ripple, Bitcoin Cash, Ether and Litecoin ("E-Token"), solely in exchange for F-Token.

3.3. Affiliates offer certain other assets on Bitpanda Broker as set out in the relevant Affiliate TC.

3.4. An exchange (Tausch) and sale/purchase (Verkauf/Kauf) with Bitpanda GmbH on Bitpanda Broker is exclusively done in the following way: 

3.4.1. Offer. You offer bindingly to sell or buy (part of) Token(s) to Bitpanda GmbH. 

3.4.2. How to make a binding offer. To make such a binding offer you have to (i) correctly fill in all necessary, valid and correct data on Bitpanda's Systems and (ii) click/confirm either the "Buy now" or "Sell now" button (such offer the "Final Offer Exchange" and item (ii) referred to as the "Final Offer Click Exchange"). 

3.4.3. Interpretation of Final Offer Exchange. For the avoidance of doubt, each Final Offer Exchange made by clicking "buy now" (each a "Final Buy Offer Exchange") is to be interpreted and qualified exclusively as "binding offer from the Bitpanda Client to Bitpanda GmbH to accept the receipt of E-Token or A-Token from Bitpanda GmbH in exchange for payment of the specified amount in F-Token" and each Final Offer Exchange made by clicking "sell now" (each a "Final Sell Offer Exchange") is to be interpreted and qualified exclusively as "binding offer from the Bitpanda Client to Bitpanda GmbH to receive your requested amount of F-Token in exchange for transfer of a specified amount and type of E-Token or A-Token to Bitpanda GmbH". 

3.4.4. No guarantee of acceptance. Bitpanda GmbH does not guarantee that a Final Offer Exchange that was made during the Client Offer Term (as defined in point 3.7) is accepted by Bitpanda GmbH. The prices, quantities or values displayed to you during the Final Offer Exchange shall in no way be interpreted as guarantee or undertaking of Bitpanda to enter into an exchange/sale/purchase agreement on such terms. 

3.5. A "Bitpanda Swap" with Bitpanda GmbH (in respect of E-Token and A-Token) is exclusively offered in the following way: 

3.5.1. Bitpanda Swap offer. You offer bindingly to exchange (part of) Token into another type of E-Token, or A-Token or M-Token, or (part of) F-Token into another type of F-Token to Bitpanda GmbH (and, in the case of M-Token to Bitpanda Metals) ("Bitpanda Swap"). 

3.5.2 How to make a binding offer. To make such binding offer you have to (i) correctly fill in all necessary, valid and correct data on Bitpanda Systems' respective trading screen and (ii) click/confirm the "Swap now" button (such offer a "Final Offer Swap" and item (ii) referred to as the "Final Offer Click Swap" together with the Final Offer Click Exchange and the Final Offer Click Savings the "Final Offer Clicks"). 

3.5.3. Interpretation of Final Offer Swap. For the avoidance of doubt each Final Offer Swap is to be interpreted and qualified exclusively as a combination of (a) one Final Sell Offer Exchange (in respect of E-Token as defined in these Bitpanda GmbH TC, in respect of M-Token as defined in the Metals TC and in respect of A-Token as defined in the Bitpanda GmbH TC and as accepted and transmitted in accordance with the Financial Services TC) to receive F-Token in exchange for transfer of a specified amount and type of Token and (b) one corresponding Final Buy Offer Exchange (in respect of E-Token as defined in these Bitpanda GmbH TC, in respect of M-Token as defined in the Metals TC and in respect of A-Token as defined in the Bitpanda GmbH TC and as accepted and transmitted in accordance with the Financial Services TC) to receive Token in exchange for payment of the amount of F-Token received under step (a).

3.5.4 No guarantee of acceptance. Neither Bitpanda GmbH nor any Affiliate involved in a Bitpanda Swap guarantee that a Final Offer Swap is accepted by Bitpanda. The prices, quantities or values displayed to you during the Final Offer Swap shall in no way be interpreted as guarantee or undertaking of Bitpanda GmbH or any Affiliate to enter into exchange agreements on such terms. A Final Offer Swap will only be considered as accepted if both Final Offer Exchange (as set out in point 3.5.3) are accepted by the relevant counterpart. 

3.5.5. Swap: No direct exchange of E-Token, M-Token or A-Token. While a Bitpanda Swap effectively and economically (after taking into consideration the applicable fees and spreads on Bitpanda Systems) corresponds to a direct exchange of E-Token, M-Token or A-Token (as the case may be), you acknowledge and accept that from a technical point of view, it is not possible to directly exchange E-Token, M-Token or A-Token into any other E-Token, M-Token or A-Token on Bitpanda Systems. As set out in point 3.5.3, if a Final Offer Swap is accepted, the relevant Token subject to the Bitpanda Swap will first be converted into F-Token first and, consequently, the resulting F-Token will be applied to purchase the Token you requested in the Final Offer Swap. This procedure will take place automatically and you will not be able to use the F-Token received in this process for any purpose other than completing the Bitpanda Swap. 

3.6. The Final Offer Exchange, the Multiple Debit Order (as defined in point 4.1.1) and the Final Offer Swap are herein together referred as "Bitpanda Client Offer".

3.7. Conditions of the binding offer. The conditions under which you may make a Bitpanda Client Offer are communicated to you on Bitpanda Systems and are valid for a certain period of time ("Client Offer Term"). During the Client Offer Term, you may validate and confirm the conditions with the Final Offer Click. If you fail to confirm the Final Offer during the Client Offer Term, the trading window will be refreshed and updated conditions will be displayed, and a new Client Offer Term commences. 

3.8. You are bound by a Bitpanda Client Offer for a period of 24 hours after the respective Final Offer Click ("Offer Period"). Bitpanda GmbH will promptly confirm to you the receipt of a Bitpanda Client Offer.

3.9. Minimum transaction volume: In general, each Bitpanda Client Offer must have a value of at least EUR 1.00 (based on the figures used by Bitpanda System). You accept and acknowledge that for certain Token the minimum transaction volume may be higher than EUR 1.00 (if this is the case, the minimum value will be shown in Bitpanda Systems before making a Bitpanda Client Offer). You will not be able to make a Bitpanda Client Offer that falls below any of those thresholds.

3.10. Acceptance of Bitpanda Client Offer by factual fulfilment. After having received a Bitpanda Client Offer, Bitpanda GmbH may or may not accept such offer by factual fulfilment of the offer (tatsächlicher Erfüllung des Angebots) at Bitpanda GmbH's sole discretion within the Offer Period (the "Contract Conclusion and Order Fulfilment Action" or "CCOFA"). Factual fulfilment means in respect of E-Token and F-Token the irrevocable crediting of the Token to your Bitpanda Client Account, which is displayed in your Bitpanda Wallet. In the case of a Bitpanda Swap that entails the sale and/or purchase of M-Token or A-Token, the relevant acceptance conditions for M-Token and A-Token respectively, as set out in the Metals TC and Financial Services TC will apply to that part of the Bitpanda Swap. For the avoidance of doubt, the factual fulfilment has not taken place for as long as the transaction is shown as “pending” on Bitpanda Systems. 

3.11. For any payments from and to you in a currency that is a legal tender, Bitpanda GmbH shall use a payment service provider.

3.12. No binding offers from Bitpanda GmbH. Any figures, numbers, exchange reference prices or other relevant publications by Bitpanda GmbH, including but not limited to Bitpanda Systems, all other websites or mobile applications or in another way, are in no case offers, binding offers or guarantees for an exchange but always to be seen as invitations to you to provide offers for exchange to Bitpanda GmbH (invitatio ad offerendum).

3.13. No liability for delays. You acknowledge that delays in the processing of the Bitpanda Client Offers can occur due to technical disruptions and agree that Bitpanda does not (i) offer any guarantee of offer processing or (ii) assume any liability related thereto, particularly not with respect to any changes of prices, valuations or other conditions with respect to any offered Token or services. 

3.14. Possible (significant) delays in Token transfer. You are aware and accept that there might be significant delays when transferring Token to your Bitpanda Account Wallet, since most Token are stored "cold", which means offline. Additional non-automated handling might be necessary causing such delays. 

3.15. Fees. Each CCOFA triggers fees, that the Bitpanda Client accepts with the Final Offer Click and that will be deducted by Bitpanda GmbH after the CCOFA.

4. Bitpanda Savings

4.1. Bitpanda GmbH offer a savings plan ("Bitpanda Savings") exclusively in the following way:

4.1.1. Bitpanda Savings offer. You offer bindingly to purchase (part of an) E-Token and A-Token on a regular and recurring basis from Bitpanda GmbH. 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 the "Confirm now" button (such offer a "Multiple Debit Order" and item (ii) referred to as the "Final Offer Click Savings").

4.1.2. Interpretation of Multiple Debit Order. For the avoidance of doubt each Multiple Debit Order is to be interpreted and qualified exclusively as "binding offer from the Bitpanda Client to Bitpanda GmbH to accept the receipt of a specified Token from Bitpanda GmbH on a regular and recurring basis at the market rates then applicable on Bitpanda Broker in exchange for regular and recurring fixed payment determined by the Bitpanda Client in a currency which is a legal tender".

4.1.3. No guarantee of acceptance. Bitpanda GmbH does not guarantee that a Multiple Debit Order is accepted by Bitpanda GmbH. The prices, quantities or values displayed to you when making the Final Offer Click Savings are in no way to be interpreted as guarantee or undertaking of Bitpanda GmbH to enter into an exchange/sale/purchase agreement on such terms.

4.1.4. No guarantee of continued price stability. Bitpanda GmbH does not guarantee that Bitpanda Saving is offered in the future even if a Bitpanda Savings Plan is already set up by you and running. You acknowledge and understand that the prices, quantities or values displayed to you when making the Final Offer Click Savings are subject to change from time to time and while the amount spent remains the same, the amount of E-Token you receive on a recurring basis may greatly vary. 

4.1.5. Acceptance of Multiple Debit Order by factual fulfilment. If a Multiple Debit Order is accepted in accordance with points 3.7 et. seq. a "Bitpanda Savings Plan" has been set up. 

4.1.6. Termination of Multiple Debit Order or Bitpanda Savings Plan by the Bitpanda Client. The Multiple Debit Order and Bitpanda Savings Plan can be terminated by following the steps as displayed in Bitpanda Systems.

4.1.7. Termination of Bitpanda Savings Plan by the Bitpanda GmbH. Each Bitpanda Savings Plan may be cancelled by Bitpanda GmbH at any time with respect to purchases, that have not yet been factually fulfilled. The cancellation of a Bitpanda Savings Plan shall not affect Token received prior to it thereunder.

4.1.8. Multiple Bitpanda Savings Plans. Each Bitpanda Client may have multiple Bitpanda Savings Plans, which are independent of each other, but each Bitpanda Savings Plan may only comprise a single type of Token.

4.2. In case of using Bitpanda Savings, you can choose between SEPA Direct Debit mandate or recurring credit card debiting as payment method:

4.2.1. SEPA Direct Debit mandate: The respective payment amount is immediately payable and due for collection on the respective collection time, which Bitpanda GmbH can freely determine in advance. By using SEPA Direct Debit mandate, you hereby revocably grant 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 mandate. 

You acknowledge 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 GmbH 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).

You acknowledge and agree that the time of collection from your bank account may be up to ten days prior to the respective recurring purchase time specified by you. You hereby also authorise 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 (“Direct Debit Chargeback”). In such case, the terms and conditions as agreed by you with your bank apply. Please note: The claim due, according to the accepted and confirmed Multiple Debit Order (as defined in section 4.1), if accepted by Bitpanda GmbH via CCOFA, will remain payable in case of a Direct Debit Chargeback. 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) and you are at fault for such delay or failure, you will bear any resulting costs (e.g. bank fees) and you authorise Bitpanda GmbH to execute a Direct Debit again on a later date. This also applies to all costs incurred by Bitpanda GmbH in connection with a Direct Debit Chargeback and/or revocation of a SEPA Direct Debit mandate, if you are at fault for such Direct Debit Chargeback and/or revocation of a SEPA Direct Debit mandate. The provisions as set forth in point 17 of the Bitpanda GTC apply equally in these cases. 

4.2.2. 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 authorise Bitpanda GmbH to charge your credit card accordingly and in accordance with the general terms and conditions applicable to your credit card. You are obliged to provide sufficient funds and/or credit line 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) if you are at fault. In such a case, the provisions of point 17 of the Bitpanda GTC apply equally. 

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

4.2.4. 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 mandate shall take effect no later than two Business Days after your revocation was communicated to us. Please note that your Multiple Debit Order issued via SEPA Direct Debit mandate will still be executed after revocation or pause, provided that your revocation or pause falls between the time of collection from your bank account and the respective recurring purchase time.

4.3. You have to fully comply with all data disclosure requirements in the payment processes, particularly when paying via SEPA. If you do not comply with the data disclosure requirements Bitpanda GmbH cannot match the respective payment with your Bitpanda Client Account with the consequence that Bitpanda GmbH has to start a manual tracking process, for which Bitpanda GmbH, in addition to any damage claims (if any), may charge you a reminder fee according to point 17 of the Bitpanda GTC, if you are at fault and to the extent that such compensation fees are necessary to cover adequate costs of Bitpanda GmbH to administer such deficiency.

4.4. Should any payment due from you fail for a reason, which is in your sphere (e.g. incorrect IBAN provided by you or technical failure of your payment service provider, etc) point 17 of the Bitpanda GTC applies.

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

5. Bitpanda Wallet and Custodial Services

5.1. Custodial Services: Bitpanda Clients can exchange, sale and purchase E-Token, without needing to set-up their own wallet on each blockchain. In order to facilitate this, Bitpanda GmbH offers custodial services for E-Token and displays the E-Token held in custody for Bitpanda Clients on your behalf on a custodial (Treuhand) basis with Bitpanda GmbH as trustee (Treuhänder) and the Bitpanda Client as trustor (Treugeber) ("Bitpanda Custodial Services"). 

5.2. Terms and scope of Bitpanda Custodial Services. As trustor you are the beneficial owner (wirtschaftlicher Eigentümer) of your E-Token at all times and Bitpanda GmbH, as trustee, is the legal owner (zivilrechtlicher Eigentümer) of your E-Token under Austrian civil law. Bitpanda GmbH and the Bitpanda Client shall be bound by the following fiduciary agreement (Treuhandvertrag) ("Custody Agreement"):

5.2.1. Bitpanda Custodial Services - and consequently the fiduciary agreement (Treuhandvertrag) - are subject to successful completion of the Client Verification Process, these Bitpanda GmbH TC and the other terms of the Bitpanda GTC. In addition, Bitpanda Custodial Services are subject to and limited by any additional requirements communicated to you upon or after depositing E-token to your Wallet, such as providing on request evidence of the source of funds in accordance with AML provisions.

5.2.2. The fiduciary property (Treuhandgut) shall consist of any and all E-Token deposited on your Wallet as a direct result of:

5.2.2.1 a purchase or exchange made on Bitpanda Systems (including Bitpanda Pro);

5.2.2.2 a Bitpanda Airdrop (as defined in point 13.1 of the Bitpanda GTC);

5.2.2.3 a transfer under other circumstances than those mentioned under points 5.2.2.1 or 5.2.2.2 (for example, if you send Bitcoin from your external Bitcoin wallet to your Wallet), if Bitpanda GmbH has either not requested that you provide a proof of funds or if you have provided proof of funds to the satisfaction of Bitpanda GmbH if so requested by Bitpanda GmbH.

5.2.3. For the avoidance of doubt, any other E-Token that are, for whatever reason, credited to your Wallet (for example, if you make a transfer and cannot provide a proof of funds to the satisfaction of Bitpanda GmbH if so requested by Bitpanda GmbH), shall not constitute fiduciary property (Treuhandgut) and thus not be subject to the fiduciary agreement.

5.2.4. The custody (Treuhand) shall be unilateral and Bitpanda GmbH as trustee shall hold the fiduciary property at all times only on your behalf, notwithstanding point 18. of the Bitpanda GTC. You do, however, acknowledge and accept that Bitpanda GmbH will offer Bitpanda Custodial Services to all its clients (Bitpanda GmbH will act as trustee for several clients at the same time) and may in addition hold or trade its own E-Token. You herewith release Bitpanda GmbH from any restrictions against self-dealing and double representation (under § 1009 of the Austrian Civil Code or otherwise) in connection with its role as trustee and the other services offered by it on Bitpanda Systems.

5.2.5. Subject to fulfilment of the requirements set out above, the fiduciary agreement commences on the date on which any E-Token is deposited on your Wallet and is entered into for an indefinite period. The fiduciary agreement ends automatically once all E-Token have been withdrawn from your Wallet. 

5.2.6. Bitpanda GmbH and the Bitpanda Client may terminate the fiduciary agreement at any time by giving two weeks prior written notice to the other party. In addition, each party may terminate the agreement for cause (aus wichtigem Grund) which shall on behalf of Bitpanda GmbH include the reasons stated in point 11.2 of the Bitpanda GTC.

5.2.7. Notwithstanding any other termination right of the Bitpanda Client and Bitpanda GmbH, each of the Bitpanda Client and Bitpanda GmbH may at any time terminate the fiduciary agreement (without observing any notice period) if any E-Token that forms part of the fiduciary property is at any time classified as financial instrument or similar regulated asset under Austrian law. 

5.2.8. The Bitpanda Client shall without undue delay upon any termination notice or actual termination of the fiduciary agreement provide a valid address (in accordance with the protocol governing the relevant E-Token) onto which the E-Token will be transferred by Bitpanda GmbH within two weeks after having received such information at the latest. In order to be able to exercise its rights under point 18 of the Bitpanda GTC, Bitpanda GmbH may retain parts of or all of the E-Token such that in the reasonable opinion of Bitpanda GmbH, the retained amount of E-Token is of corresponding value to settle all Secured Claims in the event of an Enforcement.

5.2.9. The amount of E-Token held by Bitpanda GmbH from time to time on your behalf is displayed via Bitpanda System. Bitpanda GmbH undertakes to protect your E-Token to the extent that it is reasonably technically manageable in Bitpanda Systems and endeavours to store the majority of these "cold" – meaning offline. You however acknowledge and accept that Bitpanda GmbH does not guarantee to hold E-Token in any specific form or system and that the amount displayed on Bitpanda Systems does not indicate that the displayed E-Token are in fact stored in a separate wallet. 

5.2.10. You remain in control of any E-Token held in your Wallet and may – subject to the conditions and limitations set out in these Bitpanda GmbH TC – at any time, dispose of the fiduciary property for example by transferring them to a wallet address outside of Bitpanda Systems.

5.2.11. You agree and confirm that notwithstanding and in addition to point 18.2 of the Bitpanda GTC, the purpose of the fiduciary agreement is to provide a legal framework for the technical services offered by Bitpanda GmbH in relation to your E-Token. Bitpanda GmbH as trustee does not act as asset manager, investment adviser, portfolio manager or in a similar role and - notwithstanding point 18.2 of the Bitpanda GTC and except where any mandatory law applicable to Bitpanda GmbH, any court order or verdict or similar instruction from any authority which is binding for Bitpanda GmbH – does not actively engage in any transactions or make any observations or inquiries with regard to the fiduciary property.

5.2.12. As the beneficial owner of E-Token you bear all risk of loss (factual, legally and/or economically) of such E-Token, in particular any of the risks set out under point 20 of the Bitpanda GTC. In such case, Bitpanda GmbH does not assume any liability for fluctuations in the value of E-Token or any technical changes to the E-Token. Any liability of Bitpanda GmbH under or in connection with Bitpanda Custodial Services shall be limited in accordance with point 21 of the Bitpanda GTC.

5.3. Other Token A-Token and F-Token constitute database entries recorded in a central database maintained by Bitpanda GmbH (F-Token as set out in point 12.2 of the Bitpanda GTC). The precious metals that constitute M-Token are physically stored by a third-party provider (please refer to Metals TC for further information). M-Token, A-Token and F-Token are thus not held on a custodial basis for you by Bitpanda GmbH.

5.4. Unified wallet To provide Bitpanda Clients with the best user experience and for the sake of clarity, all assets in your Wallet are displayed (including in an aggregated form) in a unified and similar fashion on Bitpanda Systems. You acknowledge and accept that these methods of presentation shall be considered for information purposes only and shall not have any effects on the different underlying legal concepts established under and set out in points 5.1 to 5.3. 

5.5. Charges As long as you are a Bitpanda Client the regular use of the Bitpanda Custodial Services is free of charge. However, in case a person is no longer a Bitpanda Client and refuses to transfer their assets within a time-period of 14 days after the contractual relationship has ended, Bitpanda GmbH is entitled to charge fees in the amount of 0,1 % but maximum EUR 30.00 per month of the value of the deposited E-Token for the usage of Bitpanda Custodial Services. Please note that these fees are in addition to and independent of any other fees that are explicitly agreed to in other points of these Bitpanda GmbH TC or the Bitpanda GTC. 

6. Transfers

6.1. Any transfers of assets from your Wallet are subject to the terms and restrictions of the Bitpanda GTC, these Bitpanda GmbH TC and the applicable Affiliate TC and will be processed by Bitpanda on Bitpanda Systems depending on the type of asset transferred and the recipient:

6.1.1. transfers from your Wallet (including E-Token) to a wallet of another Bitpanda client or Bitpanda GmbH's own wallet will be effected by Bitpanda GmbH making the required database entries on Bitpanda Systems such that the transferred asset is displayed on Bitpanda Systems as withdrawal from your Wallet and credit to the recipient's wallet. 

6.1.2. E-Token transfers from your Wallet to a wallet outside Bitpanda Systems are processed in such a manner that Bitpanda GmbH will initiate the steps required under the protocol (e.g. Ethereum Protocol) of the relevant E-Token (for example, sign with Bitpanda GmbH's private key a transaction of the requested amount of E-Token from Bitpanda GmbH's wallet to a specific address). You acknowledge and agree that Bitpanda GmbH does not procure or guarantee that any further steps that may be technically or factually required for the transaction to be considered finalized and irrevocable will be completed (for example, Bitpanda GmbH does not procure or guarantee that the transaction will be mined and included in the next block of the relevant blockchain).

6.1.3. Assets other than E-Token (for example F-Token, M-Token etc) cannot be transferred from your Wallet to a wallet outside Bitpanda Systems and Bitpanda GmbH will not process any request in that regard.

6.2. Transfers to or from a wallet outside Bitpanda Systems. For each E-Token transfer from your Wallet to a wallet outside Bitpanda Systems or E-Token transfer from a wallet (or other source) outside Bitpanda Systems to your Wallet you acknowledge and accept that:

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

6.2.2. the transaction-ID, as generated by each network (e.g. Bitcoin network), serves as irrefutable proof of the completed transfer of E-Token from Bitpanda GmbH to Bitpanda Client's last disclosed wallet address. Such transaction-ID will also be communicated to the Bitpanda Client's last disclosed e-mail address as part of a delivery confirmation e-mail.

6.2.3. the transaction is completed and cannot be reversed once the transaction appears on an external blockchain network. You are aware and accept that upon signing the relevant transfer, Bitpanda GmbH no longer has any influence on the transaction and whether or not you or any third party have access to such transferred E-Token. You are aware and accept that the transfer can only be completed by a confirmation by the relevant network and that Bitpanda GmbH assumes no liability whatsoever that such confirmation is given. You assume full responsibility for the transfer and receipt of E-Token to or by any external blockchain or network.

6.3. Notification of correct wallet addresses outside of Bitpanda Systems. You are solely responsible for notifying Bitpanda GmbH of your correct, accurate and up to date wallet address outside of a Bitpanda System. Bitpanda GmbH will assume that any such wallet address notified to it is correct, accurate and up to date until you notify Bitpanda GmbH of a different address. 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). Any Token transferred to such address cannot be transferred back or sent to another wallet address. Bitpanda GmbH assumes no liability whatsoever for any failures with respect to wallet addresses outside of a Bitpanda System. 

6.4. Wallet addresses of wallets within Bitpanda Systems may change. The wallet addresses of your Wallet(s) are neither final nor irrevocable. Therefore, you acknowledge and accept that any such Wallet or wallet address created by you or assigned to you in Bitpanda Systems may be deleted or changed by Bitpanda GmbH if you have not used this wallet address within a period of 6 months since the last use. Therefore, it is recommended to check your wallet address regularly and especially before making deposits to your Wallet.

6.5. Refunds. 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 GmbH, that these transactions can be attributed undoubtedly to your relevant Wallet or yourself respectively. Such a case may occur, when you transfer E-Token from Bitpanda GmbH's hot wallet to a third party and the recipient sends the appropriate refunds back to Bitpanda GmbH’s hot wallet. 

7. Bitpanda Index

7.1. Bitpanda Systems offer the option to purchase, sell or exchange several E-Token in one transaction according to a pre-defined allocation of funds ("Bitpanda Index Programme"). To exchange and purchase/sell via Bitpanda Index Program, point 3 et seq. of these Bitpanda GmbH TC shall apply equally.

7.2. By using Bitpanda Index Program, you can create a number of Bitpanda Client Offers with one 'click' (representing a Final Offer Click for each E-Token in the respective Bitpanda Index Programme) and purchase, sell or exchange E-Token according to a predefined allocation of funds. This means that the Bitpanda Client creates several, parallel Bitpanda Client Offers for E-Token according to the pre-defined allocation of funds they have selected.

7.3. Bitpanda Systems offer different collections of various Assets showing the development of the allocated assets (each a "Bitpanda Index") from which Bitpanda Clients can choose freely and independently. The weighting of the allocation of Assets and the respective (re)calculation of the allocation of Assets in each Bitpanda Index is determined by external partners who are independent of Bitpanda GmbH ("Index Provider") and Bitpanda GmbH has no influence over this. You acknowledge and accept that the allocation of Assets in each Bitpanda Index is not determined by Bitpanda GmbH itself and that Bitpanda GmbH does not guarantee the availability of any Bitpanda Index. In addition, Bitpanda GmbH reserves the right to exclude or remove individual tokens (and recalculate the allocation of the remaining token) from any Bitpanda Index from time to time whenever it deems such removal or exclusion necessary or desirable to comply with legal restrictions (e.g. regulatory requirements) or to mitigate risks for Bitpanda GmbH or Bitpanda Clients which Bitpanda GmbH reasonably expects to materialize in connection with such token (e.g. suspicion of fraud or market manipulation). 

7.4. Index Wallet. The current balance of E-Token held using Bitpanda Index is recorded and displayed in a separate wallet in the respective Bitpanda Client Account ("Index Wallet"). You, as a Bitpanda Client, do not purchase a complete product or an index-representing token, but individual E-Token according to the allocation of Assets you have selected (e.g. BCI5).

7.5. Rebalancing of Assets. The Bitpanda Indices are adjusted according to changes in the crypto market as well as data calculated and provided by MVIS Index Solution GmbH - a VanEck company, with registered seat in Kreuznacher Straße 30, 60486 Frankfurt am Main, Germany. During this process, the components and weightings of the indices are reviewed and, as a result, reshuffled ("Rebalancing"). The Rebalancing happens in a predefined period of time (e.g. at the end of each month). Rebalancing creates corresponding Bitpanda Client Offers for the exchange, purchase or sale of E-Token and are recorded and displayed in the Index Wallet. 

7.6. Authorization of the Bitpanda Client. You hereby confirm and grant Bitpanda GmbH the right to carry out the corresponding and periodic exchange, purchase and/or sale orders for E-Token according to the allocation of Assets you have selected. In addition, you accept and agree to pay all applicable fees in connection with the exchange, purchase and/or sale orders placed in the Rebalancing process. Rebalancing will generally take place no later than four business days after the end of a period. 

7.7. Minimum size. Bitpanda GmbH reserves the right to only execute orders within the scope of Rebalancing at its sole discretion once certain minimum sizes per order have been reached. You are aware and hereby confirm that the rebalancing may have tax implications for you as a Bitpanda Client (see point 20.1 item xii of the Bitpanda GTC).

7.8. No availability of certain E-Token. It can sometimes be the case that certain E-Token included in the allocation of Assets are not offered in Bitpanda Systems. In such cases, Bitpanda GmbH will take appropriate steps to integrate these E-Token into Bitpanda Systems within a reasonable period of time. Should Bitpanda GmbH have successfully completed the integration of the respective E-Token, this E-Token will be added to the next Rebalancing and the corresponding Index Wallet at the price displayed in Bitpanda Systems on the day of the subsequent Rebalancing. The actual extent to which E-Token are integrated into Bitpanda Systems (e.g. if these Tokens can be traded / purchased on Bitpanda Systems) is at Bitpanda GmbH's sole discretion. In particular, Bitpanda GmbH reserves the right not to provide a separate wallet in Bitpanda Systems for certain E-token included in an allocation of Assets; in such cases you can only exchange the respective E-Token for other Tokens available in Bitpanda Systems.

7.9. Exchange of E-Token in the Index Wallet. You can exchange (Swap) the E-Token recorded and displayed in the Index Wallet for other Tokens at any time by creating a corresponding Bitpanda Client Offer. Such a Bitpanda Client Offer must refer to either (i) the total number of E-Token displayed and recorded in the Index Wallet or (ii) a proportionate number of E-Token displayed and recorded in the Index Wallet corresponding to the ratio of the selected allocation of Assets. You confirm and accept that such Bitpanda Client Offer - in total or proportionate - may only be possible above a certain minimum amount. It is not possible to exchange individual E-Token which are displayed and booked in the Index Wallet. 

7.10. No sending of E-Token. The E-Token recorded and displayed in the Index Wallet can neither be sent to other Bitpanda Client nor to wallet addresses outside of Bitpanda Systems. 

7.11. No partial removal of E-Token. Partial removal of individual E-Token is excluded.

7.12. Termination of Bitpanda Index. You acknowledge and accept that Bitpanda Index can be terminated or discontinued at any time. If Bitpanda Index is terminated, Bitpanda GmbH will inform you of any such termination within a reasonable period of time. You can then either sell or exchange (Swap) the E-Tokens displayed and booked in the Index Wallet or transfer them to the corresponding Wallet on your Client Account. If you do not take action within two weeks after being informed of the termination ("Notice Period"), Bitpanda GmbH will credit the equivalent value (pursuant to the prices displayed and offered within Bitpanda Systems) of the displayed Tokens and held in the Index Wallet to your Wallet or Fiat Wallet (and deduct the respective fees incurred for this). This is done at Bitpanda GmbH's sole discretion. This Notice Period may also be waived for important reasons. Please note that E-Token traded on Bitpanda Systems will be credited to your Wallet whereas token not traded on Bitpanda Systems will be sold at the applicable market prices and the proceeds of such sale (after deduction of any applicable trading fee) will be converted to F-Token and credited to your Fiat Wallet. 


8. Bitpanda Card

Bitpanda GmbH offers a digital asset-backed debit card service (“Bitpanda Card”) subject to the following terms:

8.1. Partnership with Contis. Bitpanda Card is offered in partnership with UAB Finansinės paslaugos, company code 304406236, registered in the commercial register of the Republic of Lithuania, having a head office at Mėnulio g. 11-101, Vilnius, Lithuania ("Contis"). Contis is the issuer of the Bitpanda Card and is a member of the Visa card schemes ("Visa"), which allows your Bitpanda Card to operate as a regular Visa debit card. Usage of the Bitpanda Card is, in addition to the Bitpanda GTC, the Bitpanda GmbH TC and all other documents referred herein subject to the Contis Bitpanda Card Account Terms and Conditions (available at https://www.bitpanda.com/en/legal#terms-contis) and to the Contis Privacy Policy (available at https://www.bitpanda.com/en/legal#privacy-contis). When registering your Bitpanda Card, you must explicitly acknowledge and agree to the Contis Bitpanda Card Account Terms and Conditions and Contis Privacy Policy.

8.2. Prerequisites. To be able to register and use the Bitpanda Card you must (i) have a fully verified Bitpanda Client Account, (ii) be a resident in the Euro Area (i.e. resident of a European Union Member State that has adopted the euro as its currency), (iii) have assets (i.e. any kind of offered and available token within Bitpanda Systems) equal to or exceeding the aggregate value of EUR 100.00 within Bitpanda Systems (including Bitpanda Pro) and (iv) have downloaded and installed the Bitpanda mobile app.

8.3. (Legal) Name. Your Bitpanda Card can only be issued in your (legal) name and as registered with your Bitpanda Client Account. You acknowledge and accept that only one active Bitpanda Card per Bitpanda Client Account is allowed. 

8.4. Payment Assets. Bitpanda Card is only accepted at venues that accept Visa credit and debit card payments. Please note that you can connect up to two specific assets of your choice to your Bitpanda Card. The default asset that you connect to your Bitpanda Card is called the "Main Payment Asset" (e.g. E-Token wallet for Bitcoin or A-Token wallet) and the secondary asset that will be used only as a fallback is called the "Fallback Payment Asset" (e.g. your E-Token wallet for Ethereum; the Main Payment Asset and the Fallback Payment Asset together the "Payment Assets"). 

8.5. Sufficient balance. Card transactions can only be completed successfully if the transferred amount is fully covered by the value of the assets designated as Payment Assets. If a payment exceeds the value of your Main Payment Asset, the full amount will be deducted from the Fallback Payment Asset only. This helps to avoid failed transactions if your Main Payment Asset runs low on funds. If neither the value of your Main Payment Asset nor the value of your Fallback Payment Asset are sufficient to cover the transaction costs (including fees) on their own, the transaction will be cancelled, the envisaged payment will fail and your card will be declined at the respective point of sale. Under certain circumstances, due to technical limitations outside Bitpanda Systems, an "offline" transaction made with your Bitpanda Card may be successful even though your Main Payment Asset and Fallback Payment Asset does not have a value corresponding to or exceeding the value of that transaction. You acknowledge and agree that you are liable for the full amount (including any fees) of such transaction and must repay such amount to Bitpanda GmbH without undue delay. Point 17 of the Bitpanda GTC applies.

8.6. Payment and transaction procedure. Any payments and transactions made via your Bitpanda Card will be made in EUR. This means that whenever you use (i.e. make a payment at a point of sale or ATM withdrawal) your Bitpanda Card the following procedure applies:

8.6.1. If you have linked an asset other than F-Token denominated in Euro ("EUR-F-Token" and the sub-wallet where all EUR-F-Token are recorded, the "EUR Wallet") as your Payment Asset (being the Main Payment Asset or - if the Main Payment Asset would not be sufficient to settle the payment - the Fallback Payment Asset) 

a. you automatically offer (in the form of a Bitpanda Client Offer) to accept the receipt of an amount of EUR-F-Token sufficient to cover the envisaged payment with your Bitpanda Card (including fees) in exchange for transfer of a corresponding amount of Token from your Payment Asset to Bitpanda GmbH. The offer acceptance and sale will be performed subject to and in accordance with the procedures set out in point 3.4.; and

b. the amount of EUR-F-Token received from Bitpanda GmbH (if the offer under item (a) is accepted by Bitpanda GmbH) will be deducted from your F-Wallet to settle your payment. For the avoidance of doubt: If Bitpanda GmbH does not accept the offer made under item (a) in accordance with the procedures set out in point 3.4 your transaction will not be settled and the envisaged payment will be declined at the point of sale. 

8.6.2. If the Payment Asset charged in the envisaged Bitpanda Card (being the Main Payment Asset or - if the Main Payment Asset would not be sufficient to settle the envisaged transaction - the Fallback Payment Asset) is your EUR Wallet, the required amount of EUR-F-Token will be deducted from your EUR Wallet to settle your payment.

8.7. Fees. In addition to any fees you may incur from Bitpanda GmbH in connection with the sale of your Main Payment Asset and/or Fallback Payment Asset, an additional ATM withdrawal fee and a foreign exchange fee may be applicable. Fees may vary depending on your BEST VIP Level. You can find a detailed overview of all the fees here https://www.bitpanda.com/en/card. 

8.8. Upfront deduction of funds. Please note that for certain payments and transactions (such as reservations for hotels or car rentals or any other kind of deposits), we have to deduct the value of the respective payment upfront. This means that the sale from your chosen Main Payment Asset and/or Fallback Payment Asset to your EUR Wallet and the respective EUR deduction will simultaneously take place at the time you initiate such a payment or transaction. 

8.9. Limits. You acknowledge and accept that certain limits (such as but not limited to spending limits, ATM withdrawal limits, the number of transactions you may perform within a specific time frame) may be applied. The current limits can be found here https://www.bitpanda.com/en/card. Furthermore, you acknowledge that such limits may change and/or be amended at any time at Bitpanda GmbH’s sole discretion for objectively justified reasons. Objectively justified reasons within the meaning of this point 8.9 shall exist inter alia if, (i) circumstances arise which prove a deterioration of the financial situation of the Bitpanda Client or (ii) Bitpanda GmbH has an objectively justified suspicion that the funds are used in an unlawful manner or (iii) the change is required to protect the Bitpanda Client. 

8.10. Cashback. Bitpanda GmbH voluntarily and until further notice offers Bitpanda Clients who are considered BEST VIPS with VIP level 3 or higher cashback on purchases conducted with the Bitpanda Card, if the Main Payment Asset and Fallback Payment Asset is an asset other than a Fiat Wallet ("Cashback"). Any Cashback is to be considered a gift from Bitpanda GmbH to the Bitpanda Client. Any Cashback is currently credited and paid out solely in Bitcoin (BTC). The Cashback amount you may receive is a percentage of turnover made with your Bitpanda Card and that percentage will vary depending on your BEST VIP level. The Cashback will be credited directly to your Wallet after each successful transaction conducted with your Bitpanda Card. 

8.11. Changes in BEST VIP level. If your BEST VIP level changes before 23:00 CET on any calendar day, such a change will be taken into consideration for any turnover made with your Bitpanda Card after the end of that calendar day (i.e. after 23:59:59 CET). Any changes of your BEST VIP level at or after 23:00 CET will only be considered after the end of the following CET calendar day. For example, if your BEST VIP changes from level 3 to level 4 on a Monday, at 16:00 CET, then the cash back percentage offered for BEST VIP level 4 will apply to any turnover made with your Bitpanda Card after Monday 23:59:59 CET. If your BEST VIP level changes on Monday at 23:04 CET, then the cash back percentage offered for that BEST VIP level will apply to any turnover made with your Bitpanda Card after Tuesday 23:59:59 CET. 

8.12. Transaction history. All transactions successfully completed with your Bitpanda Card will be recorded in your Bitpanda Client Account, showing all historic transactions (including Cashback received thereon). Bitpanda GmbH strives to record and display all historic transactions (including Cashback received thereon) correctly and without delay. However, due to technical or other issues, discrepancies between the transactions shown in your Bitpanda Client Account and the actual transaction conducted with your Bitpanda Card might occur.

8.13. Failed transactions. If a Bitpanda Card transaction fails, you will receive a push notification (if you have enabled push notifications on your device) with instructions on how to proceed. Most transaction fail due to (i) insufficient funds (ii) an excess of the daily Bitpanda Card limits, (iii) a blocking of the Bitpanda Card for other reasons (such as but not limited to: you have entered an incorrect pin, your Main Payment Asset and/or Fallback Payment Asset was in maintenance mode while initiating the payment, a technical issue occurred on the merchant’s side, etc). 

8.14. Refunds. If you receive a refund in connection with a transaction made with your Bitpanda Card (for example: returned security deposits, cancelled transactions, Chargebacks) such a refund will always be credited in EUR-F-Token to your EUR Wallet, except for Bitpanda GmbH's trading- and transaction premiums. If you have received a Cashback for purchases that are, for whatever reason, refunded, you hereby grant Bitpanda GmbH the right to deduct the received Cashback directly from your EUR Wallet. If your EUR Wallet has insufficient funds, the equivalent value will be deducted from the available Token on your Bitpanda Client Account. 

8.15. All existing and future services, promotions, rates and conditions of and in relation to Bitpanda Card may be amended, changed or terminated anytime at Bitpanda GmbH’s sole discretion for objectively justified reasons and Bitpanda GmbH may also choose to exclude certain Bitpanda Clients from all or specific services and/or promotions in connection with Bitpanda Card.

8.16. Loss or theft. In case of loss or theft of your Bitpanda Card and/or the credentials (e.g. credit card number, pin or card validation code) of your Bitpanda Card you must immediately block the Bitpanda Card in your Bitpanda Client Account and report loss or theft (as applicable) to the competent authorities and in accordance with the Contis Bitpanda Card Account Terms and Conditions. You acknowledge that Bitpanda GmbH is not the issuer of Bitpanda Card. 

8.17. Card blocking. In some instances, the Bitpanda Card will be blocked for you. This could happen for, inter alia, the following reasons: You have entered the CVV incorrectly 3 times and/or you have entered the PIN incorrectly 3 times. Upon receipt of a replacement Bitpanda Card, you must destroy and must not further use that existing Bitpanda Card.

8.18. Expiration. Your Bitpanda Card will expire automatically three years after its date of issuance and a replacement Bitpanda Card will be sent to you at no additional cost. For further information regarding termination please see Contis Bitpanda Card Account Terms and Conditions.

8.19. Security. Please note that Bitpanda GmbH, together with Visa, strives to keep your Bitpanda Card as safe as possible. We advise that you use your Bitpanda Card carefully and apply the necessary safety measures and precautions. You must never share your Bitpanda Card number CVV, PIN or SMS codes with anyone else. Bitpanda staff members will never ask for your CVV, PIN or SMS code (neither via phone nor via e-mail nor otherwise). Only you are responsible for keeping your Bitpanda Card and the credentials of your Bitpanda Card safe and confidential. If the Bitpanda Card is lost or stolen or if the Bitpanda Client discovers misuse with the Bitpanda Card, he/she must report this immediately to Bitpanda GmbH.

Non-careful actions include but are not limited to:

  • storing the Bitpanda Card in such a way that third parties can gain unauthorised access to it without considerable effort;
  • recording the PIN on the Bitpanda Card;
  • keeping the recorded PIN together with the Bitpanda Card;
  • the use of the Bitpanda Card and card data for purposes other than payment transactions;
  • the disclosure of the Bitpanda Card or card data to third parties, except for the purpose of making a payment to Merchant and its employees. Under no circumstances must the PIN be disclosed.

8.20. Liability. Liability when using the Bitpanda Card is governed by the Contis Bitpanda Card Account Terms and Conditions (https://www.bitpanda.com/en/legal/bitpanda-card-account-terms-conditions).

8.21. Fair-Use-Policy. All holders of Bitpanda Card are required to use Bitpanda Card in line with this intended purpose. Notwithstanding any other provisions of the Bitpanda GmbH TC, Bitpanda GmbH reserves the right to block your Bitpanda Card and/or exclude you from using Bitpanda Card and/or from receiving any kind of Cashback, if Bitpanda GmbH determines that your Main Payment Asset is exclusively or predominately your EUR Wallet, and/or if you use the Bitpanda Card in any other harmful way (“Fair-Use-Policy”).

9. Miscellaneous

9.1. Severability Clause. If one or more of the provisions of these Bitpanda GmbH TC or one or more of the Annexes hereto are or will become invalid or unenforceable, or if one or more of the provisions of these Bitpanda GmbH TC or one or more of the Annexes hereto are or will become incomplete, the other provisions of these Bitpanda GmbH TC and the Annexes 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 and only with respect to the jurisdiction in which it has been found illegal or unenforceable, without having any effect on any other jurisdiction. 

9.2. Priority of Bitpanda GmbH TC. The Bitpanda GmbH TC (as amended from time to time) supersede any prior statements or agreements between Bitpanda and you on the matters regulated in the Bitpanda GmbH TC. Any terms and conditions of you are excluded from being applicable on the relationship between you and Bitpanda. 

9.3. The Bitpanda GmbH TC shall continue to apply even after termination of the business relationship until complete settlement. 

9.4. Contractual language. The Bitpanda GmbH TC are made and published in various languages. In case of any discrepancies or in case of dispute the German language version of the Bitpanda GmbH TC shall prevail.


1. Annex I

Bitpanda Loyalty Programme Terms 

(applicable as of 29 December 2021)


General

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 GmbH” and for the purposes of these Terms “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.

1.4 These terms of use ("Terms") exclusively and comprehensively govern the relationship between Bitpanda and any Participants (as defined below) in connection with participation in the Bitpanda Loyalty Program.

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.

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.

7 Taxes

7.1 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 Miscellaneous

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.

8.6 The 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.

8.7 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.

8.8 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.

Annex 1 – Bitpanda Loyalty Programme Benefits

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: 

2.1.1 actively claim weekly BEST rewards as outlined in section 5.7;

2.1.2 actively claim additional BEST rewards depending on trading volume as outlined in section 5.10;

2.1.3 receive exclusive access to perks and benefits from Company Partners as outlined in section 3;

2.1.4 enjoy several Bitpanda Card Benefits as outlined in section 6.

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: 

2.2.1 all the benefits the Participants with VIP Level 1 - but the amount of rewards/benefits depends on their VIP Level 2;

2.2.2 additional collection of BEST per week as outlined in section 5.8;

2.2.3 participation in VIP Asset Voting as outlined in section 4.

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: 

2.3.1 all the benefits Participants with VIP Level 2 - but the amount of rewards/benefits depends on their VIP Level 3;

2.3.2 can benefit from the BEST VIP Affiliate Bonus as outlined in section 8.

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: 

2.4.1 all the benefits the Participants with VIP Level 3 - but the amount of rewards/benefits depends on their VIP Level 4;

2.4.2 can benefit from lower deposit fees for credit card and SOFORT as outlined in section 9;

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: 

2.5.1 all the benefits the Participants with VIP Level 4 - but the amount of rewards/benefits depends on their VIP Level 5;

2.5.2 enjoy exclusive Bitpanda VIP Customer Support as outlined in section 7.

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 Rewards 

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
Crypto 0.05% 0.10% 0.15% 0.20% 0.25%
Metals 0.05% 0.10% 0.15% 0.20% 0.25%
Bitpanda Stocks 0.005% 0.010% 0.015% 0.020% 0.025%


5.16 BEST rewards are designated to function as a loyalty programme for users being active on Bitpanda Broker. BEST rewards therefore explicitly: 

5.16.1 do not represent or constitute any ownership right or stake, share or security or equivalent right in or relating to Bitpanda or any of its affiliates nor any legal claim for pay-outs;

5.16.2 do not represent a claim on or against (Forderung gegenüber) Bitpanda or any of its affiliates;

5.16.3 will only be activated in connection with the active usage of the Bitpanda Broker, for fully verified Bitpanda Clients that signed up to this Loyalty Programme and who fulfill all requirements for participation as set forth in section 5.


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

Level 1

• 2.50% FX fee

• No further Bitpanda Card benefits available

Level 2

• 2.50% FX fee 

• No further Bitpanda Card benefits available

Level 3

• 1.75% FX fee 

• 1 ATM withdrawal per month free of charge

• 0.5% cashback

Level 4

• 1.00% FX fee

• 5 ATM withdrawal per month 

• 1.00% cashback

Level 5

• 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
Level 5

+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.

Annex II - Staking

1. Scope and General Provisions

1.1 This Annex III governs the business relationship between Bitpanda Clients and Bitpanda GmbH regarding the Staking Services (as defined below) offered on Bitpanda Systems (“Staking Terms”).

1.2 Staking Services. Staking is the process of participating in transaction validation on “Proof-of-Stake” blockchains (“Staking Asset Network”). Bitpanda Systems allow the option for Bitpanda Clients to contribute to transaction validation and earn rewards by offering to Bitpanda GmbH to stake staking certain E-Token they already hold in their Wallet (“Staking-Eligible Asset”) in the name and on behalf of the Bitpanda Client (“Staking-Eligible Asset”) (“Staking Service”). For more information on “proof-of-stake” consensus mechanism, please visit our website https://www.bitpanda.com/en/staking. The Staking Service is an optional service provided on Bitpanda Systems to Bitpanda Clients by facilitating the staking of their Staking-Eligible Assets. The Staking Services are offered together with third party staking service providers. A Staking-Eligible Asset is not automatically staked for you but you need to actively offer to Bitpanda GmbH to stake (parts of) Staking-Eligible Asset as set out in point 2 (Staking & Unstaking). You can only stake Staking-Eligible Assets that you hold on Bitpanda Systems. 

1.3 Only certain E-Token based on the “Proof-of-Stake” consensus mechanism are eligible for staking. Bitpanda Systems offer Staking Services only for certain eligible E-Token.

2. Staking & Unstaking 

2.1 Staking. The Staking Services on Bitpanda Systems are only offered in the following way:

2.1.1 Offer. You offer bindingly to stake (part of) your Staking-Eligible Assets on Bitpanda Systems. 

2.1.2 How to make a binding offer. To make such a binding offer you have to (i) correctly fill in all necessary, valid and correct data on Bitpanda Systems and (ii) click/confirm the "Stake now" button (such offer the "Final Offer Staking" and item (ii) referred to as the "Final Offer Click Staking").

2.1.3 Interpretation of Final Offer Staking. Each Final Offer Staking is to be interpreted and qualified exclusively as "binding offer from the Bitpanda Client to Bitpanda GmbH to stake their selected Staking-Eligible Assets on their behalf." For the avoidance of doubt, the Bitpanda Client will retain beneficial ownership of the Staking-Eligible Assets as long as they are staked on Bitpanda Systems.

2.2 Acceptance of Final Offer Staking. A Final Offer Staking may be accepted by Bitpanda GmbH by explicit offer acceptance to the Bitpanda Client on Bitpanda Systems within the Offer Period, or be rejected. The Bitpanda Client will be informed about the acceptance or non-acceptance of the Bitpanda Client Offer.

2.3 Staking Agreement. Upon Bitpanda GmbH accepting a Final Offer Staking, a continuing obligation (Dauerschuldverhältnis) between the Bitpanda Client and Bitpanda GmbH, entered into for an indefinite term (unbestimmte Dauer) (each a "Staking Agreement"), is made. Each time a Final Offer Staking is accepted, a new Staking Agreement is entered into, independent of any other Staking Agreement made between the Bitpanda Client and Bitpanda GmbH. A Staking Agreement can be terminated by (i) the Bitpanda Client by way of Unstaking (as described below in point 2.5.) at all times, (ii) by Bitpanda GmbH in accordance with point 7 below. The Staking-Eligible Assets that have successfully been staked pursuant to a Staking Agreement ("Staked Assets"), will be shown on your E-Token Wallet.

2.4 Third party staking service provider. Staking will be conducted via a third party provider. 

2.5 Unstaking. You can unstake (parts of) your Staked Assets in following way: 

2.5.1 Declaration of termination. You declare bindingly to unstake (part of) your Staked Assets on Bitpanda Systems and terminate the respective Staking Agreement. 

2.5.2 How to make a declaration of termination. To make such a binding declaration you have to (i) correctly fill in all necessary, valid and correct data on Bitpanda Systems and (ii) click/confirm the "Unstake now" button (such declaration the "Final Declaration Unstaking"") and item (ii) referred to as the "Final Declaration Click Unstaking").

2.5.3 Interpretation of Final Declaration Unstaking. Each Final Declaration Unstaking is to be interpreted and qualified exclusively as "Unilateral binding declaration from the Bitpanda Client to Bitpanda GmbH to immediately unstake their selected Staked Assets on their behalf and (partially) terminate the relating Staking Agreement." For the avoidance of doubt, the Final Declaration Unstaking is not required to be accepted by Bitpanda GmbH and becomes effective upon the Final Declaration Click Unstaking.

2.6 No bonding period. Bitpanda Systems provide quasi-instant staking and unstaking. Thus, the Staking-Eligible Asset will immediately be staked after the Final Offer Staking has been accepted by Bitpanda GmbH and hence generate Rewards (as defined below) for the Bitpanda Client (no bonding period). 

2.7 No lock-up. The Staked Asset can be unstaked at any time with immediate effect at the sole discretion of the Bitpanda Client (no lock-up). In this case the Bitpanda Client receives his Staked Assets, subject to the non-realization of the Slashing Risk outlined in point 7, back in their Wallet and all Rewards accrued on such Staked Assets until the relevant Final Offer Click Unstaking. 

2.8 Offer Period. You are bound by a Final Offer Staking and for a period of 24 hours after the respective Final Offer Click ("Offer Period"). The receipt of a Final Offer Staking will be confirmed to you promptly.

2.9 Minimum transaction volume. In general, each Final Offer Staking must have a value of at least EUR 1.00 (based on the figures used by Bitpanda System). For certain Staking-Eligible Assets the minimum transaction volume may be higher than EUR 1.00 (if this is the case, the minimum value will be shown in Bitpanda Systems before making a Final Offer Staking). You will not be able to make a Final Offer Staking that falls below any of those thresholds.] 

2.10 No binding offers on Bitpanda Systems. Any figures, numbers or exchange reference prices on Bitpanda Systems, do not constitute binding offers but an invitation to you to submit a Final Offer Staking on Bitpanda Systems (invitatio ad offerendum).

3. Rewards, Commission & Payout Interval

3.1 Rewards. When using the Staking Services you are eligible to receive rewards distributed to you on Bitpanda Systems, based on the amount of the Staked Assets and the rewards percentage of the respective Staking Asset Network (“Rewards”). The Staking Services are an optional feature on Bitpanda Systems. Therefore, the amount of the Rewards is determined by Bitpanda GmbH and Bitpanda GmbH may also not pay out Rewards to Bitpanda Clients. In any case, only rewards Bitpanda GmbH receives from the respective Staking Network can be paid out to the Bitpanda Client. If the Bitpanda Client does not receive any Rewards, no Commission pursuant to point 3.6 below has to be paid. 

3.2 No risk/revenue sharing. The Staking Agreements entered into between the Bitpanda Client and Bitpanda GmbH and the related Staked Assets are independent of any other staking agreement and staked assets Bitpanda GmbH may maintain with its other clients and your Staked Assets are neither part of any risk nor revenue sharing scheme. 

3.3 Estimated Rewards. The estimated rewards for each of the respective Staking-Eligible Asset available on Bitpanda System can be found here https://www.bitpanda.com/en/staking and are shown on Bitpanda Systems before the Final Offer Click Staking ("Estimated Reward"). The Estimated Reward (i) is an estimate only and (ii) may also change at any time based on the Staking Network and shall thus only be considered as indication for comparison purposes. Bitpanda GmbH does not guarantee that an Estimated Reward can actually be realised by the Bitpanda Client.

3.4 Compounding. Your Rewards will be compounded by automatically staking any Rewards distributed to your E-Token Wallet on Bitpanda Systems. 

3.5 Payout interval. Rewards will be paid out once a week for every Staked Asset, irrespective of the applicable rewards period of the Staking Asset Network, unless otherwise specified and communicated so to the Bitpanda Client . . This also applies if a Staked Asset needs to be claimed manually per the Staking Network’s protocol. Paid out Rewards will be visible to the Bitpanda Client as “Staking Rewards” on Bitpanda Systems.

3.6 Commission. A commission for the provision of the Staking Services will be charged. This commission will be automatically deducted from your Rewards before Rewards will be paid out to the Bitpanda Client. Depending on the BEST VIP-Level of the Bitpanda Client as set out and defined point 1 of Annex I to the Bitpanda Loyalty Programme Terms (for more information see Annex I above and https://www.bitpanda.com/en/legal/bitpanda-loyalty-program-best-terms-explanatory-notes), the commission deducted by Bitpanda GmbH is as follows: 


BEST VIP level

Commission

No BEST VIP level

20%

Level 1

18%

Level 2

16%

Level 3

14%

Level 4

12%

Level 5

10%


3.7 Tax. Receiving Rewards may have tax implications for you as a Bitpanda Client (see point 20.1 item xii of the Bitpanda GTC).

4. Early Bird Promotion

4.1 Early Bird Promotion. Bitpanda GmbH offers Bitpanda Clients using the Staking Service within four weeks from the go-live date of the Staking Services on Bitpanda Systems the distribution of additional rewards (“Early Bird Promotion”).

4.2 Limited time. The Early Bird Promotion is only offered until four weeks from go-live date. However, Bitpanda GmbH is entitled to extend the offer period of the Early Bird Promotion. 

4.3 Early Bird Promotion Award. Subject to the terms and conditions of this Annex the Estimated Rewards as set out on https://www.bitpanda.com/en/staking will be doubled by Bitpanda GmbH during the Early Bird Promotion (i.e. if the regular Reward amounts to 1 %, the doubled amount amounts to 2 %) ("Early Bird Promotion Award"). 

4.4 No compounding. The difference between the regular Staking Award and the Early Bird Promotion Award will not be compounded, but will, instead, be credited to the non-staked balance of the E-Token Wallet. Further, the Early Bird Promotion Rewards are visible as a giveaway in your transaction history.

4.5 Regular Staking Awards. After the Early Bird Staking period has ended, the Bitpanda Client will receive Rewards as set out above in point 3. 

4.6 Tax. Receiving Early Bird Promotion Awards may have tax implications for you as a Bitpanda Client (see point 20.1 item xii of the Bitpanda GTC).

5. Limitations 

Certain services offered on Bitpanda Systems will be limited for the Staked Asset. Staked Asset thus need to be unstaked first in order to:

  • be sold 
  • swapped 
  • transferred within Bitpanda Systems or to an external wallet address; or
  • used as Primary or Secondary Payment Asset for the Bitpanda Card (for more information on Bitpanda Card please see here: https://www.bitpanda.com/en/card).


6. Discontinuation of Staking-Eligible Assets

6.1 Discontinuation of Staking-Eligible Assets. Individual Assets may be discontinued as Staking-Eligible Assets by Bitpanda at any time ("Discontinued Asset"), upon which it will not be possible to make a new Final Offer Staking with respect to a Discontinued Asset. If you have entered into one or more Staking Agreements (which have not otherwise been terminated) with respect to Discontinued Asset, you will be informed of any such discontinuation and Bitpanda GmbH will terminate the relevant Staking Agreement(s) in accordance with point 7. 

6.2 For the avoidance of doubt, other Staking-Eligible Assets and Staking Agreements remain unaffected of any discontinuation. 

7. Risks

7.1 Staking involves certain risks in addition to the risks outlined in point 20 of the Bitpanda GTC. Amongst others, in the course of Staking some Staking Asset Networks impose penalties in case validators fail to to operate services in accordance with the Staking Asset Network ("Slashing"). In certain – rare – cases such penalties can also be imposed without the validator having done anything wrong ("Unjustified Slashing"). 

7.2 Bitpanda Clients are the beneficial owners of Staked Assets at all times, therefore the Bitpanda Clients bear the risk of accidental loss of Staked Assets.. Bitpanda GmbH will, however, use reasonable endeavours to prevent any loss of Staked Assets.

7.3 If such Unjustified Slashing happens to a Bitpanda Client, despite Bitpanda GmbH's reasonable endeavours to prevent such Unjustified Slashing from happening, any losses (e.g. loss of part or all Staked Assets) have to be economically borne by the Bitpanda Client as beneficial owner of the Staked Assets. 

7.4 Until further notice Bitpanda GmbH will compensate you if the Slashing did not result out of (i) malicious acts by third parties (e.g. hackers), (ii) failures, bugs or errors of the respective Staking Asset Network or any software used by you or (iii) a force majeure event.

8. Termination of Staking Services

8.1 The Staking Services on Bitpanda Systems as a whole and/or individual Staking Agreements may be terminated by Bitpanda GmbH in writing by email to the Bitpanda Client and with a notice period of at least 30 days. The termination of Staking Services as a whole shall also include the termination of all Staking Agreements with the Bitpanda Client. All other products and services on Bitpanda Systems remain unaffected. 

8.2 After expiration of the notice period set out in point 7.1, the relevant Staking Agreement(s) will lapse and the Staked Assets previously subject to those Staking Agreement(s) will be automatically unstaked and shown in the E-Token Wallet.

8.3 This point has no effect on the provisions for the termination for cause, according to point 11 of the Bitpanda GTC.