BitGenera General Terms

Last updated: 05th August 2023

1. Welcome

Welcome to the BitGenera General Terms of Service. These terms, combined with our Fees Page, Issuer Terms (where applicable), and any other documents referred to in these terms (collectively, the “Terms”) set out the legal agreement between:

You, as the BitGenera user; and

The BitGenera company identified in paragraph 3 below (or “we”, “our”, or “us”).

Please read through this document carefully to understand how your account and our services work. If you do not agree to these Terms, do not sign up for or use our services and do not utilize this website. Users in certain regions may have different Terms applicable to them.

2. Our BitGenera Service

BitGenera operates a platform accessible through the BitGenera Website www.bitgenera.io that allows you to store, deposit, buy, sell, transfer and manage supported currencies and digital payment tokens (“DPTs”).

The information provided through the BitGenera Service is not intended to be and does not constitute financial advice or any other advice. It is general in nature and not specific to you. It is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment, nor is it a recommendation, endorsement or sponsorship of any security, company or fund.

You should assess carefully whether your financial situation and tolerance for risk is suitable for any transactions you undertake using the BitGenera Service, and you are responsible for conducting your own research before carrying out any transactions through BitGenera.

3. Who We Are

Different BitGenera companies may provide services depending on the type of product or account. This https://www.bitgenera.io website is operated by Wallex Asset Management s.r.o. reg. number: 11774908, with reg. address: Rybná 716/24, Staré Město, 110 00 Praha, Czech Republic provides Custody, Cryptolending, trading and Saving Services.

4. Your BitGenera Profile

In order to use the BitGenera Service, you will need to register using your email, set up an account with a password and verify your identity (your “BitGenera Profile”).

We recommend that you use a strong password, with a combination of letters, numbers and special characters, with your BitGenera Profile. You must enable 2-factor authentication to access your BitGenera Profile.

Please refer to the security section below (in paragraph 9) for more information about the steps you must take to protect your BitGenera Profile.

5. Accessing your BitGenera Account

Where applicable, our BitGenera Profile allows you to access an online Account (your “BitGenera Account”) and to view the transactions you make through your BitGenera Account.

6. Security

It is extremely important for you to keep your BitGenera Profile secure at all times. You are responsible for all transactions initiated through your BitGenera Profile. Unauthorised use of your BitGenera Profile may have serious consequences for you, including financial consequences. Ultimately, it is your responsibility to keep your BitGenera Profile secure by engaging in the following practices:

Using a strong password for your BitGenera Profile;

Keeping your phone safe and ensuring it is password-protected at all times;

Enabling 2-factor authentication to access your BitGenera Profile;

Logging out of the BitGenera website when you are not using it;

Changing your mobile, card pin and BitGenera Account passwords regularly and not sharing these with anyone; and

Keeping your email account secure at all time.

7. Information about You

Keeping your personal data safe is important to us. How we handle your personal data is explained in our Privacy Policy.

8. Eligibility

You must meet the following criteria in order to create a BitGenera Profile:

- You must be 18 years of age or older and be resident of a country where BitGenera is available.

- You must be an individual and not acting on behalf of a business or third party. If you wish to open a business account with us, please click on the button Business when you sign up.

- You must only open one account with us and not have had a previous account with us that was blocked or closed;

- You must verify your identity with us and pass any other checks we are required to conduct (such as Anti-Money Laundering checks and identity verification procedures).

9. AML/KYC Verification

We take our anti-money laundering (AML) and know your customer (KYC) policies very seriously, and we monitor our platform for suspicious activity. You must comply with all requests to verify your identity, address, and source of funds.

We will require users to provide valid government-issued proof of identity documents and will ask for proof of address documents issued in the last three months.

You will be required to provide us with an up to date Proof of Address document issued in the last three months in order to maintain your account in good standing.

Where we cannot verify your identity or the validity of your documents, you will be refused a BitGenera Profile. Where you appear on any governmental or inter-governmental sanctions list, you will be refused a BitGenera Profile.

10. Restrictions on using BitGenera

You must not use the BitGenera Service for any of the following:

- For any illegal purpose, including fraud and money laundering, and for any purpose prohibited by regulation, statute, ordinance, or other governmental or regulatory limitation;

- For any debt-collection purpose;

- To circumvent merchant restrictions or obtain goods or services without paying;

- For commercial speculative trading purposes;

- To manipulate the price of any asset or currency;

- In any manner likely to result in complaints, reversals, chargebacks, fees, fines, penalties, or other liability to BitGenera, other users, third parties, or yourself;

- In any manner which results in a negative balance in any currency;

- To burden or overload our infrastructure, facilitate any viruses, malware, malicious code or other form of IT attack or attempt to gain access to our systems and information;

- To interfere with the BitGenera Service in any manner;

- To copy or reproduce our content or services in any manner;

- To interfere with our third party providers in any manner;

- To circumvent our policies and procedures;

- For use with any automatic trading, API, crawler scripts, or other methods inconsistent with ordinary use of the BitGenera Service;

- For the purpose of crowdfunding, or receiving the proceeds of a crowdfunding campaign;

- To harass our employees, agents, or other users; and

- To trade FX for speculative purposes or FX arbitrage.

- We may, at any time and in our sole discretion, refuse any transfer, purchase, sale, or transfer of an Asset submitted via the Services, impose limits or impose any other conditions or restrictions upon your use of the Services.

- Limits: Your account will be subject to general limits on transactional activity, unless limits are upgraded. Should you wish to know your account limits, you can do so by contacting our team via the chat on the platform.

11. BitGenera Remedies

- If you breach these Terms in any manner or we suspect you may have breached these Terms, we may, in our sole discretion, take the following actions:

- Close, suspend, or limit your access to your BitGenera Profile, your BitGenera Account ;

- Refuse to complete transactions;

- Fully or partially reverse a transaction or exchange; and

- Pursue legal action against you.

12. Account Closure

You may close your BitGenera Profile and BitGenera Account at any time with us for any reason by contacting us. However, you may not close your BitGenera Profile or BitGenera Account while BitGenera is conducting an investigation into your use of the BitGenera Service, or while you have a remaining balance on your BitGenera Account. Even if your BitGenera Profile is closed, you will remain liable for any actions taken through your BitGenera Profile prior to closure.

Nothing in this paragraph affects any legal rights you may have under the law of the country in which you are resident

13. Account Suspension and Termination by BitGenera

We may end or suspend your use of the BitGenera Service without notice to you, at any time, and with immediate effect in the following circumstances:

- Where you have provided us with false or misleading information;

- Where we determine, in our sole discretion, that your use of your BitGenera Profile, BitGenera Account is, or is potentially, detrimental or harmful to BitGenera in any manner;

- Where you have breached these Terms or engaged in any restricted activity;

- Where we suspect you have breached these Terms or otherwise acted fraudulently, including during the AML/KYC verification process;

- Where we are required to do so to comply with a court order, law, regulation, regulatory decree or ombudsman’s orders;

- Where you have been declared bankrupt;

- Where you have been declared deceased.

We exclude all liability for any losses incurred where we have suspended an account in accordance with this paragraph. BitGenera is not required and may be prohibited by law to provide any further information regarding your account closure or suspension.

We may also terminate your BitGenera Profile and your use of the BitGenera Service at any time by giving you 30 days notice.

14. Notice and Communications

We will get in touch with you through the BitGenera Service or the email address you provide on your BitGenera Profile.

You are required to keep this updated with an email address you check regularly.

We may contact you as well on your mobile phone number provided in your profile.

When you contact us through the chat on the platform with regards to your account, you are required to do so after logging in to your profile, for security purposes, or otherwise our team is entitled to refuse to provide you with assistance, unless the case relates to profile access issue.

You should also check your transaction history regularly and let us know of any errors or unauthorised transactions.

Any communications will be made in English.

15. Customer Support

If you need any help or want to make a comment or complaint, please contact our customer service via the intercom chat. We aim to resolve all enquiries typically within 1-2 business days, and for a period of maximum two weeks.

Copies of these Terms are available upon request and on our Website.

16. Unresolved Complaints

Please give us the opportunity to resolve your complaint. We will respond to any complaints within 15 business days of receiving your complaint, except in exceptional circumstances beyond our control. In any event, we will respond to your complaint within 35 business days of receiving your complaint.

If we have not been able to resolve your complaint to your satisfaction, you may take your complaint to the relevant institution.

17. Intellectual Property

All intellectual property rights in the BitGenera Service, and all content and logos are owned by or licensed to BitGenera. You may not copy, imitate, or use any of this intellectual property without our prior written consent. Nothing in these Terms grants you any intellectual property rights in the BitGenera Service, other than the right to use the BitGenera Service, and to download our mobile application on your device in order to access the BitGenera Service, in accordance with these Terms.

Your right to use the BitGenera Service is personal to you and you are not allowed to give this right to any other person. Your right to use the BitGenera Service does not stop us from giving other people the right to use the BitGenera Service.

18. Amendments to These Terms

We may make changes to our Terms and policies from time to time. If you do not agree to the changes, you must stop using our services before the planned commencement date of the new changes. Continuing to use the BitGenera Service means that you accept our new changes.

Certain changes may occur immediately and without notice. This may happen when we are required to make changes by law, or where we make minor changes to these Terms that do not impact your rights and remedies or our obligations. When such changes occur, we will notify you as soon as reasonably practicable.

19. Our responsibility to you

The BitGenera Service allows you to purchase services and products, and provides you with content and information that are owned or developed by third parties, or that operate on or are supported by third party networks. As we do not have any control over these services or products that you purchase, or content you view using the BitGenera Service, we are not responsible for them in any way.

While we do our best to ensure that the features and functionalities of the BitGenera Service are of a reasonably satisfactory standard and are available to you all of the time, certain features may rely on networks and connections that are beyond our control. Due to the nature of the Internet and technology, the BitGenera Service is therefore provided on an “as is” and “as available” basis. As such, we cannot guarantee that the BitGenera Service won’t be interrupted, or that you will not experience delays, failures or errors when using the BitGenera Service.

We also give no guarantee as to the fitness for purpose of the BitGenera Service for your specific needs. To the extent we are able to do so, we exclude any commitments that may be implied by law. For any claim, our responsibility to you will be limited to any amounts you have paid us in the 12 months preceding your claim. If you have not paid us anything, we shall not be responsible to you for any claim arising out of the provision of the BitGenera Service.

In every case, we will never be responsible for any loss or damage that is not reasonably foreseeable, or that is caused by a failure by you to comply with these Terms.

20. Our Right to Set-Off

Sometimes we might be entitled to be compensated by you, for instance due to a technical error in your favour, when you have a negative balance on your account, or when you use the BitGenera Service in such a way that violates the Terms. In such cases, we shall be entitled to recover any sum due to us by retaining some or all of your available funds or balances that you have stored in your BitGenera Account or DPTs you have bought through the BitGenera Service, regardless of what currency or DPTs those balances are held in.

Where necessary, we will convert currencies and DPTs at the applicable exchange rate.

21. Your responsibilities

You are responsible for:

All charges and other amounts incurred through your use of the BitGenera Service at any time, including any amounts outstanding after you stop using the BitGenera Service or if we suspend or cancel your BitGenera Profile; and

Complying with any and all laws, rules and regulations of your jurisdiction that may apply to you in connection with your use of the BitGenera Service, including but not limited to activities of import and export, taxes or foreign currency transactions. We will not be responsible for the execution of tax obligations, or calculation and transfer of taxes applied to you.

You are also responsible for keeping a copy of any information you upload to the BitGenera Service or that is accessible through your BitGenera Profile. We will not offer you compensation for any losses you might suffer as a result of any information that you access on the BitGenera Service being deleted, or your access to such information being terminated or suspended if you or we terminate or suspend your use of the BitGenera Service.

22. Accessing a Deceased’s Account

In the event that you need to access a deceased’s BitGenera Profile, please contact us. We may ask you for supporting documentation, such as a death certificate, probate documents, or other documents proving you have the right to administer the deceased’s estate.

23. No Investment Advice

We do not provide any type of investment advice. We may provide information concerning types of currencies and DPTs, prices, and events that may have influenced prices, all of which should not be considered investment advice. If you require investment advice you should contact a financial advisor. You are solely responsible for how you use our services and the financial results of your actions.

24. Governing Law and Dispute Resolution

Eurpoean law will apply to all disputes and the interpretation of these Terms. The European courts will have non-exclusive jurisdiction over any dispute arising from or related to your use of the BitGenera Service, if dispute is initiated by you. This does not affect your rights under the law of the country in which you are resident, including (where applicable) your right to have a dispute in relation to your use of the BitGenera Service heard in the court of that country. In the event that BitGenera has to take legal actions towards you, we shall be entitled to do so at our discretion at your country of residence, or country of nationality.

25. Disclaimers

EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN THESE TERMS, OUR SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.

YOU ACKNOWLEDGE THAT INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES MAY BECOME IRRETRIEVABLY LOST OR CORRUPTED OR TEMPORARILY UNAVAILABLE DUE TO A VARIETY OF CAUSES, INCLUDING SOFTWARE FAILURES, PROTOCOL CHANGES BY THIRD PARTY PROVIDERS, INTERNET OUTAGES, FORCE MAJEURE EVENT OR OTHER DISASTERS INCLUDING THIRD PARTY DDOS ATTACKS, SCHEDULED OR UNSCHEDULED MAINTENANCE, OR OTHER CAUSES EITHER WITHIN OR OUTSIDE OUR CONTROL. YOU ARE SOLELY RESPONSIBLE FOR BACKING UP AND MAINTAINING DUPLICATE COPIES OF ANY INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES.

26. Limitation of Liability

EXCEPT AS OTHERWISE REQUIRED BY LAW, IN NO EVENT SHALL BitGenera, OUR DIRECTORS AND EMPLOYEES BE LIABLE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR SERVICES OR THE BitGenera MATERIALS, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM BitGenera, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO BitGenera'S RECORDS, PROGRAMS OR SERVICES.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF BitGenera (INCLUDING OUR DIRECTORS, MEMBERS, EMPLOYEES AND AGENTS), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, THE SERVICES OR TO THESE TERMS EXCEED THE FEES PAID BY YOU TO BitGenera FOR THE APPLICABLE SERVICES DURING THE 12 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY.

27. Indemnity

You agree to defend, indemnify and hold harmless BitGenera (and each of our officers, directors, members, employees and affiliates) from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out or relating to (a) your use of, or conduct in connection with, our Services; (b) any Feedback you provide; (c) your violation of these Terms; or (d) your violation of any rights of any other person or entity. If you are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it.

28. Force Majeure Events.

BitGenera shall not be liable for (1) any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information; (2) any loss or damage arising from any event beyond Payward's reasonable control, including but not limited to flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction or any other cause beyond BitGenera's reasonable control (each, a "Force Majeure Event").

29. Miscellaneous

No third-party rights are created in these Terms. Only you, as the holder of the BitGenera Profile will have any rights to enforce these Terms. You cannot assign or transfer any of your rights under these Terms to someone else.

Where we do not enforce our rights under these Terms, we do not waive our rights. We may transfer or assign our rights under these Terms at any time.

Unless stated otherwise in these Terms, if any provision of these Terms is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced to the extent possible.

Prohibited Articles and Transactions means: (1) drug paraphernalia or narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety, (2) stolen goods including digital and virtual goods or which encourage, promote, facilitate or instruct others to engage in illegal activity (3) the promotion of hate, violence, racial intolerance or the financial exploitation of a crime, (4) items that are considered obscene, (5) items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under Applicable Laws, (6) ammunition, firearms, certain firearm parts or accessories, or certain weapons or knives regulated or prohibited under Applicable Laws; (7) are associated with purchases of annuities or lottery contracts, lay-away systems, offshore banking or transactions to finance or refinance debts funded by a credit card, (8) are for the sale of certain items before the seller has control or possession of the item, (9) are by payment processors to collect payments on behalf of merchants, (10) are associated with the sale of traveller’s checks, money orders, money transfers, MoneySend Intracountry, MoneySend Intercountry or MoneySend Funding, (11) involve certain credit or debt settlement services, credit transactions or insurance activities, (12) involve offering or receiving payments for the purpose of bribery or corruption; (13) involve gambling activities; (14) any automated fuel dispenser transactions (15) are associated with direct marketing services, (16) massage parlours, (17) timeshares; (18) chemicals and allied products not elsewhere classified, (19) Adult Content, (20) Charities, (21) Defence/Military, (22) Ponzi Pytamid Schemes, (23) Precious Metals, (24) Weapons, or (25) Shell Banks.

Prohibited Countries means any of the following: Afghanistan, Belarus, Burma, Burundi, North Korea, Democratic Republic of Congo, Eritrea, Libya, Somalia, South Sudan, Venezuela, Zimbabwe, Sudan, Yemen, Iraq, Iran, Cuba, Syria, Mali, Central African Republic, Guinea-Bissau, Russia, Ukraine, Lebanon or any other country which (or with any other persons who) is sanctioned by the United Nations Security Council, or under applicable laws of your country of residence.