Coinffeine - Bitcoin - Be your own exchange, Cut out the middleman Coinffeine

Legal Terms Coinffeine

1. Object

1.1. The present document regulates the terms of use of the Coinffeine application and the services linked to it, which are available at the site: www.coinffeine.com (hereinafter the Services), established between Coinffeine, S.L. (hereinafter COINFFEINE) and the User.

The download and activation and use of any of the Services makes you a User, being bound and having to comply with the terms in this document as a contract between the parties.

1.2. Coinffeine is a Spanish company with tax number B87026753, with address in Madrid (Spain), calle Áncora 14, bajo B, which is registered in the Companies Registry of Madrid in book 32275, page 58, section 8, leaf M-580921.

You can contact us via the aforementioned postal address, by emailing us to info@coinffeine.com o contacting our Telegram “Coinffeine official”, from Monday to Friday from 9h to 12h Spanish time.

1.3. The user declares that he/she is an adult and he/she is legally capable of assuming the obligations and rights contained in this contract and that all the information provided is true, complete and updated. In case his/her personal laws impede or condition the use of the Services, it could affect the contract validity. In addition to that, in case that the User contracts the Services on behalf of another entity or person, he/she declares that he is expressly empowered to contractually bind that other party with COINFFEINE to all effects.

2. Exposition and warnings

2.1. Coinffeine is a software that allows Users to buy and sell bitcoins with euros (EUR), any other fiat currency is not currently available in the application. Coinffeine does not advise, intervene, control or supervise those operations, including the fixing of the price and other terms of the transactions. Coinffeine does not verify the identity, capacity, solvency or responsibility of the Users and will not assume any responsibility derived from the operations done using Coinffeine apart from those strictly linked to the technical functioning of the application and Services, and according to these terms.

2.2. The User manifests explicitly that he/she knows the functioning and operating of transacting and trading bitcoin and other cryptocurrencies with one other, and cryptocurrencies with fiat currency, as well as how cryptocurrency virtual or electronic wallets work. The compliance with this and the acceptance of any responsibilities and potential risks linked with buying and selling cryptocurrencies is an essential condition to use Coinffeine.

Regarding this contract, “cryptocurrencies” will be those digital representations of value not issued by a Central Bank or any public authority, not necessarily linked to a fiat currency, but accepted by people and companies as means of payment or exchange, which can be transferred, stored or negotiated by electronic means.

2.3. The User admits and accepts that the transacting or trading of cryptocurrencies or of cryptocurrencies for fiat money, implies high risks for different reasons, such as their lack of support, backing, hedge or protection by banks or public authorities and, given the fluctuation of prices, even in short periods of time, that could potentially make the User rapidly lose his/her investment and wealth.

The transacting or trading of cryptocurrencies, which is irreversible, is susceptible to unpredictable speculative bubbles, or to a loss of trust in them for the aforementioned motives, which could make their demand collapse. In addition to that, the trust in cryptocurrencies could be altered by, among others, changes in regulation, technical problems, the opinion of application or computer solution developers, the creation of other cryptocurrencies or an inflationary or deflationary spiral. In any case, there could be additional unexpected risks, or risks not identified in these terms, for which COINFFEINE would also bear no responsibility.

In any event, the User will be responsible for individually evaluating his/her financial situation and whether his/her risk tolerance is adequate to buy, sell or trade, in general, cryptocurrencies, especially bitcoin.

3. Description and functioning of the Services

3.1. The Services comprehend the access and use of a desktop application (available for the specified operating systems and under the established conditions) that allows for (a) establishing connections among Users interested in trading bitcoins for EUR, in the terms that they determine, (b) the facilitation of the execution of those transactions and (c) the custody of the private key that enables the management of the embedded crypto wallet.

The Services will never include the deposit or custody of fiat currency, nor any investment, payment, banking or financial service. All bitcoin and EUR transaction are conducted directly among the Users, from and to their accounts at Advanced Cash, following their terms of service.

3.2. Having a valid account at Advanced Cash (https://advcash.gi/en/) is an essential prerequisite to be able to use Coinffeine. Users may then install Coinffeine and configure in it the link to their Advanced Cash accounts. The “Before you begin with the installation” section of the User Manual in the website (https://coinffeine.com/user-manual.html) contains all relevant information, which you must read and understand before using Coinffeine.

The User shall have to install and configure Coinffeine accepting these Legal Terms, providing all data or documentation that may be requested. Failing to comply with this obligation, as well as failing to attend any present or future request for information made by COINFFEINE, will authorize COINFFEINE to terminate this contract immediately.

Every transaction of bitcoin and EUR will be made and reflected in the user’s account at Advanced Cash, which acts as his/her payment processor in every case. The current balance of his/her account at Advanced Cash is also visible in Coinffeine.

3.3. Transactions are made according to offer and demand coming from different Users, subject to prices set by them and in the terms in which Users accept the transactions. Do note that buy or sell orders may not be executed immediately, nor at the exact value or price indicated when sending an order, but rather when they are accepted by other counterparties in the transaction. The User declares to be aware of the aforementioned and of the fact that the price of bitcoin may be different from that in the moment he/she sent the order.

3.4. It will be the User’s responsibility to verify the compliance of the procedures and indications aforementioned, as well as those posted at Coinffeine and Advanced Cash in order to place orders and, in general, use the Services. COINFFEINE will not be responsible, in any case, for the errors, omissions or problems attributable to the User for this reason.

In addition to that, the User will cover any transaction fees, payments, currency exchange fees and, in general, whatever costs may be demanded by Advanced Cash or third parties (including bitcoin miners) and that are generated along every transaction.

4. Technical requirements and access to the Services

4.1. The Services are accessible through the Coinffeine app, with no more technical requirements than a personal computer or other device with access to Internet and the operating systems and versions indicated as compatibles prior to downloading the application.

4.2. The User agrees to the custody and confidentiality of all relevant identifications and keys (among them and specifically, those relative to his/her embedded bitcoin wallet) which are for his/her personal use exclusively and shall not be relinquished or communicated to third parties. In case of theft, loss or inadequate use of them by other persons, or lack of diligence by the User, he/she will be responsible for all consequences and damages caused.

4.3. There is no geographical or time limitation to access the Services, which are operational 24h a day, 365 days a year. In any case, please take into account that the quality and speed of use of functionalities depends, to a large extent, of your device, your telecommunications provider or your network connection, and that COINFFEINE may suspend or interrupt access to the Services for maintenance or security reasons whenever necessary. The User will be informed of this via the channels of communication generally employed, and by email in case of being subscribed to COINFFEINE’s mailing list, except in those cases of impossibility or urgency.

5. Intellectual and Industrial Property

5.1. The Services and the elements that conform them are the exclusive property of COINFFEINE or, when applicable, of licensing third parties, and they are protected by the laws and international treaties regarding intellectual property, which include, illustratively though not exhaustively, any of its versions and modules, source code, graphic interfaces, databases, structure, design, images, sounds, texts, manuals, diagrams or other components. Lack of compliance with the applicable laws and these terms will lead to the exercise of the corresponding civil or criminal actions for infringement of rights.

5.2. The User shall have a limited right of use, circumscribed to the access and use of the Services only to comply with the Terms in this contract. In addition to that, he/she agrees to use the Services conforming to the law, this contract, as well as to morality and the generally accepted good habits and public order, and to protect and custody all of its elements. The user shall not be able to relinquish or transfer the rights acquired through this contract to third parties in any case, nor shall he/she allow third parties to use the Services by title or under any circumstances, other than his/her own employees or collaborators.

5.3. The denomination or name “Coinffeine” as well as its logo is a trademark property of COINFFEINE exclusively, and it is protected as industrial property. Its use is authorized as long as the products or services of COINFFEINE are specifically and truthfully referred to, which does not imply the concession of any right over it.

6. Personal data protection

6.1. The User data that the application registers will be processed by COINFFEINE as data controller according to the laws currently applicable in regards to personal data protection, and it shall be used for the provision of the Services, to respond to User claims or suggestions, to manage the subscription to mailing lists or newsletters and for compliance with administrative, fiscal and accounting obligations of COINFFEINE, with the aforementioned being the legal basis for the indicated processing. The processing of said data is independent to that conducted by Advanced Cash following their own criteria and responsibilities.

6.2. COINFFEINE shall apply to said data all technical, legal and organizational measures required to guarantee the privacy and security of those affected, and to avoid their alteration, loss, theft, unauthorized processing or access. All of this considering the state of technology, the nature of stored data and the risks to which they are exposed, coming from either human action or from the physical or natural environment.

6.3. Data will not be communicated to third parties, other than in cases legally enforceable or allowed by the law, as well as for, exclusively, the storage or conservation of its own servers. In this last case, COINFFEINE is committed to not having data stored in servers located out of the European Economic Area, and to establishing with the outsourcing company all due precautions and obligations required to guarantee data processing compliant with the current law.

6.4. Data will be stored until the User stops using the Services, and beyond and adequately blocked, until the prescription of any possible legal responsibilities applicable. In any case, the User will be able to execute his/her rights to access, rectification, opposition, limitation to the processing and portability of his/her data in the legally established terms at any point of time, by contacting COINFFEINE on any of the addresses stated at clause 1.2 of these Terms. In case of doubt about his/her identity, COINFFEINE may require accreditation by means of a copy of his/her national ID or equivalent document.

In addition to that, the User can present a claim to the Spanish Data Protection Agency (Agencia Española de Protección de Datos) if he/she considers that his/her data processing is inadequate.

7. Guarantees and responsibilities

7.1. COINFFEINE guarantees the ownership and correct functioning of the Services and its components and that it has been developed with its own means or else that it has obtained all relevant licenses from their owners and, in any case, does not infringe intellectual property rights of third parties.

7.2. COINFFEINE, however, cannot guarantee the availability and continuity of to the Services, its inadequate functioning, data loss or corruption, lost profits or, in general, any damages, direct or indirect, caused by wrong or bad functioning of the systems of the User such as his/her network, device, operating system, applications, setup or communications system, due to maintenance or repairs, regular or extraordinary, or due to any other reason beyond control of COINFFEINE, or that are not reasonably predictable, or due to whatever circumstances that may affect Advanced Cash or its services. In addition to that, in so far as the Services are reliant on the blockchain of Bitcoin, Coinffeine will not accept any responsibility, consequences or damages caused by the functioning of that blockchain.

7.3. COINFFEINE does not intervene, intermediate or take part in any transactions conducted by the Users, neither does it provide any advise or consultation related to bitcoin trading. COINFFEINE, rather, provides an application that, in connection with the payment processor Advanced Cash, enables the fulfilment of those transactions on the conditions, criteria and at risk of the Users.

In regards to this, COINFFEINE shall not accept any responsibility for the results, success, effects or possible incidents in the transactions and operations that Users conduct, and also not for the consequences derived from loss, compromise or improper use of whatever credentials or keys and/or their investments.

8. Costs

8.1. The download and installation of Coinffeine is free. COINFFEINE will only receive a remuneration consisting of a fixed commission of 2% over the value in fiat money of the transactions conducted by the Users using the Services, which will include all applicable taxes. That commission shall be paid in bitcoins, split equally between the buyer and the seller of each transaction (therefore, paying each 1% of the price of the transaction), and it shall be applied to the price of the transaction, increasing (for the seller) or decreasing (for the buyer) directly according to the corresponding amount.

Commissions will be paid in bitcoins, and COINFFEINE shall not be responsible for any transaction costs (including miner fees), currency exchange, fees, costs or taxes applicable by third parties in relation to the aforementioned.

9. Modifications and updates

9.1. COINFFEINE reserves the right to modify and update the information, contents and Services, its cost, configuration, availability and presentation of them, as well as these legal terms, at any point of time and without previous warning.

9.2. Continuity in the use of the Services implies, in every case, absolute conformity with the legal terms in force at that moment. In case of disagreement, the User shall abstain from using the Services.

10. Exception to the right of withdrawal

10.1. In conformity with consumer and user laws, once an operation or transaction has been conducted within the scope of the Services, the corresponding service provision will be understood as initiated so that the User will not be able to render the contract void according to the right of withdrawal recognized in those laws, remaining bound to pay the price (commission) and to comply with the rest of the obligations stated in this contract.

10.2. The aforementioned is understood notwithstanding the possibility of terminating the contract at any point of time in accordance with the following clause.

11. Duration and termination

11.1. This contract shall have unlimited duration, notwithstanding the faculty of the User to terminate it at any point of time by ceasing in the use of the Services, as well as at the request of Coinffeine or the User, due to reasons legally established, particularly in case any of the parties fails to fulfill its obligations.

11.2. The resolution or termination of this contract will imply the rescission of access to the Services, and therefore, of the right to its use and other rights stipulated in this contract, notwithstanding the claims that may correspond. The termination of this contract will not affect the User account and services at Advanced Cash.

12. Applicable law and jurisdiction

12.1. These conditions will be governed and interpreted according to the Spanish laws in whatever is not specifically stipulated. COINFFEINE and the User, explicitly renounce to any other forum that may correspond to them, and they submit themselves, except in those cases not legally possible due to consumer laws, to the jurisdiction and competence of the Courts and Tribunals of Madrid (Spain), for the resolution of any question about the interpretation, applicability and fulfilment of this contract that may arise, as well any claims that may result from the use of the Services.

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