Terms of use

A. Terms of use

General information

Cryptonow is the intellectual property of Cryptonow Group AG. The trademarks, products, and service platforms are exclusively licensed by Värdex Suisse AG for the Swiss retail market.

Värdex Suisse AG (Värdex Suisse), a public limited company based in Baar, Switzerland, is the operator of this internet site (website) and provider of the services offered here.

If you choose to use this website or register for it, you agree to accept and comply with the Terms and Conditions of the website as set out below (Terms of Use). Please read the entire Terms of Use carefully before using this website or any services on this website.

The name "cryptonow", as used in these Terms of Use, refers to the company Värdex Suisse AG, including but not limited to its owners, directors, investors, employees or other parties associated with this company. Depending on the context, "cryptonow" may also refer to the services, products, websites, content and other materials (collectively, materials) provided by Värdex Suisse.

Värdex Suisse isn't supervised by FINMA, and the voucher amount isn't covered by deposit protection.

In some countries not all features of the website may be available. It is also your responsibility to comply with the laws and regulations of the country in which you are resident and/or from which you use this website and the services of Värdex Suisse.

As long as you agree to these Terms of Use and actually follow them, Värdex Suisse grants you a personal, non-exclusive, non-transferable, non-sublicensable and limited right to use the website and the services.

1. Cryptonow voucher cards and redemption of credits

1.1 Among other things, Värdex Suisse issues voucher cards which can be purchased at various sales points. A voucher card is a prepaid value card and as such comparable to a gift voucher. A cryptonow voucher card is a voucher card in combination with a printed (empty) blockchain crypto-wallet (hereinafter referred to as voucher card).

1.2 The voucher card contains a credit in FIAT currency (CHF, EUR), which is acquired with the special purpose of the exchange transaction in crypto-currencies (e.g. Bitcoin, Ethereum and Bitcoin Cash) and can be activated and used exclusively on the platform www.cryptonow.ch operated by Värdex Suisse.

1.3 The credit holder can be a natural person or a legal entity that enters into an agree-ment with Värdex Suisse under these Terms of Use. The Terms of Use and other applicable provisions (e.g. the Privacy Policy, legally defined limits and AML obliga-tions) refer to all rights and obligations arising from the use of this website and the services concerned. These Terms of Use apply as long as the account in question can be accessed via the platform.

1.4 For activation on the platform, a physical cryptonow voucher card in plastic or paper form or a or digital Cryptonow voucher in paper form (PDF) must be purchased in advance.

1.5 The balance on the voucher card can only be used for a full exchange transaction. It is not possible to divide this amount into several partial amounts.

1.6 It is neither possible to pay the total amount in cash nor to return the voucher card or exchange it for other vouchers. There is no interest on the credit balance.

1.7 The balance on the voucher card expires 12 months after purchase. Special "pro-motional gift cards" have a shortened validity period, provided that the corresponding note (Valid until ...) is printed on the packaging.

1.8 Värdex Suisse reserves the extraordinary right to suspend the activation of voucher cards temporarily or permanently under special circumstances such as technical malfunctions, system maintenance, IT system attacks, fraud or similar.

1.9 The voucher card is transferable as a gift. Värdex Suisse accepts no liability in the event of loss, theft or damage to the voucher card. Such cards will not be replaced. Any claims can only be made upon presentation of the voucher card and the receipt.

1.10 A trade with the cryptonow voucher cards is prohibited. Värdex Suisse reserves the right to stop supplying voucher cards to persons who violate this ban.

2. Data security and data protection

2.1 Värdex Suisse uses personal data for the purposes stated at the time of transfer and/or for the purposes set out in these Data Protection Regulations and/or for other purposes permitted by law.

2.2 By using the services of Värdex Suisse and your declaration of consent, you have agreed to the Terms of Use of this platform to make your personal data available to Värdex Suisse. You therefore agree that Värdex Suisse may pass on this information to third parties in cases where Värdex Suisse is obliged to do so by law for the purposes of electronic identification, as set out above.

2.3 User information, which does not identify any individual person, may be disclosed to third parties for marketing, advertising, or other purposes.

2.4 Any third-party company which receives or has access to such personal data is obliged by Värdex Suisse to protect this data and to use it only to provide the ser-vices intended for you or for this platform, unless otherwise required or permitted by law. Värdex Suisse will ensure that each of these third-party companies is aware of the obligations according to these Data Protection Regulations. Contracts are only concluded with third-party companies, which are bound by precisely these provisions, which protect the personal data passed on to them in the same way as the obligations which Värdex Suisse enters into in accordance with these Data Protection Regulations, or to which Värdex Suisse is subject in accordance with the applicable data protection laws.

2.5 Personal data may be processed during card activation. The user expressly agrees to the processing of the user’s data in accordance with the General Data Protection Regulations (GDPR).

2.6 The most modern security technology is used to protect the data.

2.7 In principle, no liability can be assumed for the security of data transmitted via the internet. The transmission of the data is not encrypted.

3. Links from third parties

3.1 Occasionally, Värdex Suisse may, at its discretion, place or offer products or ser-vices of third parties on its website. These third-party websites have separate and independent data protection regulations. Värdex Suisse recommends that you check all regulations, terms, conditions and rules, including the data protection regulations of each website you visit. Nevertheless, Värdex Suisse makes every effort to protect the integrity of its website as best it can and welcomes any feedback on these third-party websites.

3.2 Värdex Suisse does not control these websites, nor their content, and you agree that Värdex Suisse is not responsible or liable in any way for any of these third-party websites, including their content, rules, omissions, promotions, products, services or actions, and/or any damage, loss, delay or other problems caused by, associated with or arising from such websites. This list is only exemplary and not exclusive.

4. Intellectual property

4.1 Unless otherwise indicated, all content on this website is the property of Cryptonow Group AG and protected by copyright, trademark and/or other applicable laws. You may view, print and/or download copies of content from this website solely for your own use for non-commercial and/or informational purposes, provided you respect all copyright and proprietary notices.

4.2 The trademarks such as "be your own bank", "cryptonow", "cryptonow wallet", service marks and logos on this website are the property of Cryptonow Group AG or the respective license owner. Software programmes, texts, pictures, graphics, data, prices, merchandise, diagrams, graphic representations as well as film and audio material used on this website are the property of Cryptonow Group AG. Trademarks and content may not be copied, reproduced, modified, republished, uploaded, post-ed, transmitted, scraped, collected or distributed in any form or by any means. Any unauthorised use is prohibited and may violate copyrights, trademark rights and/or other applicable laws and could result in criminal or civil prosecution.

5. Liability

5.1 All exchange transactions and other services are available to the user without liability on the part of Värdex Suisse, whether explicit or implicit. Värdex Suisse does not guarantee a constant availability of its activation and exchange transaction services. Värdex Suisse endeavours to provide the services as quickly as possible, but there is no guarantee that access will not be interrupted or that there will be no delays, failures, errors, comissions or loss of transmitted data. Värdex Suisse will make reasonable efforts to provide you with proper access to the website and related services in accordance with the Terms of Use. Värdex Suisse may interrupt the access to this website due to maintenance work or security measures but will inform you in time. You acknowledge that this may not be possible in an emergency.

5.2 Voucher card holders accept and agree that they are the rightful owners of the voucher card and the relevant credit balance and that they are required to carry out the exchange transaction as the owner without infringing the rights of third parties or applicable laws.

5.3 Värdex Suisse is not liable for damages, loss of profits, loss of income, loss of business, delayed crypto transmission, loss of opportunities, loss of data, loss of private keys and/or access data as well as direct and indirect losses, as long as these losses are not caused by a breach of these Terms of Use by Värdex Suisse. Värdex Suisse cannot be held liable for any malfunction, breakdown, delay or inter-ruption of the internet connection. Furthermore, Värdex Suisse does not accept any liability in case of non-availability of the services for various reasons, at a certain time or for a certain period of time.

6. Customer service

If you have any questions about the cryptonow voucher card, the customer service is available for you via telephone: (+41) 41 508 78 01 or online.

B. Exchange Transaction Provisions

If you make the exchange transaction, you agree to accept and comply with these Exchange Transaction Provisions, including the above Terms of Use (A.) and the following Final Provisions (C.). Please read the entire Exchange Transaction Provisions carefully before using this or other services on this website. By activating the voucher card and carrying out the ex-change transaction, the credit holder acknowledges and confirms in particular that:

• he/she accepts these Exchange Transaction Provisions including the above Terms of Use and the following Final Provisions; and

• he/she has full legal capacity to accept these Exchange Transaction Provisions, the above Terms of Use and the following Final Provisions and that he is able to enter in-to business with Värdex Suisse.

7. Procedure and conditions of the exchange transaction

7.1 The exchange transaction of FIAT (CHF, EUR) voucher card credit to the specific cryptocurrency via cryptonow.ch is carried out in the following manner:

i. The voucher card holder activates the voucher at www.cryptonow.ch/go using a voucher ID, a one-time activation PIN and a valid mobile phone number.

ii. After successful registration and

iii. exchange threshold check, the validity and correctness of the mobile phone number of the voucher card owner is verified by means of a time-limited SMS mTAN code.

iv. After successful verification, the user can exchange the available FIAT voucher credit (CHF, EUR) in cryptocurrency as soon as

v. the user has confirmed the acceptance of these Exchange Transaction Provisions, the Terms of Use, the Final Provisions and the Data Protection Regulations.

7.2 On the displayed exchange website, the preliminary exchange reference rate of FI-AT is displayed in crypto-currency and updated after a few seconds. By pressing the button ("Exchange now") or ("Complete") the FIAT/crypto exchange transaction is bindingly executed within a few seconds and cannot be reversed. A reversal of the exchange transaction is also excluded.

7.3 The preliminary exchange reference rate which is displayed to the user on the website may deviate from the effective, bindingly executed reference rate due to market fluctuations and short-term excess supply or demand. Cryptonow has no influence on this.

7.4 If the exchange process cannot be carried out by the system within 10 seconds after pressing the button ("Exchange now") or ("Complete"), the exchange transaction is cancelled and the user can initiate a new exchange transaction.

8. Crypto transmission to voucher card crypto-wallet

8.1 After the effective exchange transaction has been carried out, the exchanged crypto amount is sent from cryptonow via blockchain to the crypto-wallet (physical card or paper wallet / PDF) of the voucher card holder. The voucher card also functions as a crypto-wallet with a unique blockchain target address and the corresponding private key for access.

8.2 Due to characteristics inherent in the nature of the respective block chain network, the card holders must also acknowledge and agree that sending crypto currencies to the user's wallet may take between 10 minutes and twenty-four (24) hours, pro-vided that there are no unforeseen and unavoidable incidents on the respective block chain network and Värdex Suisse services.

8.3 It is excluded at all times that the acquired crypto amount is sent to a crypto-wallet address other than that of the voucher card holder or user of the crypto-wallet.

8.4 The voucher card holder shall ensure before carrying out the exchange transaction that he/she is in possession of the crypto-wallet addresses (public and private key) and that these are undamaged and valid (QR code readable or plain text readable on voucher cards - wallet well readable). If the exchange transaction is carried out by the user and afterwards the access to the received crypto value is not possible, cryptonow assumes no liability. In particular, the user or voucher card holder is re-sponsible for the secure storage of the private key. Cryptonow and Värdex Suisse do not know the private keys and can neither disclose nor restore them. A refund of the voucher amount in FIAT or the exchanged crypto value is excluded.

9. Exchange limits and thresholds

Värdex Suisse ensures the proper and regulatory correct execution of the exchange transaction by means of various technical measures. In particular, Värdex Suisse intends to structure the exchange transaction as a two-party transaction (money exchange business). Legal limits apply, whose compliance is monitored by Värdex Suisse. Värdex Suisse has set its internal systemic thresholds for the exchange transaction below the legal limits. Should the user exceed the thresholds set by Värdex Suisse (irrespective of the number of voucher cards used) or should compliance with money laundering and terrorism financing regulations or international sanction regimes require it, Värdex Suisse reserves the right to prevent the user from making the exchange transaction temporarily or indefinitely by means of a systemic measure. If there are strong indications that the thresholds are often exhausted by the user, Värdex Suisse can permanently stop the exchange transaction, which will result in a deactivation of the cryptonow services or the purchased voucher card(s). For more detailed information on thresholds and user scoring, please contact compliance@cryptonow.ch.

10. Exchange transaction reference price

10.1 Through the exchange transaction via Värdex Suisse Exchange Services, the user buys crypto currencies directly from Värdex Suisse or sells directly to this company. Värdex Suisse therefore does not act as an intermediary agency or marketplace be-tween buyers and sellers of crypto currencies. The exchange transaction is subject to the Värdex Suisse reference price. By the term "reference price" Värdex Suisse understands the liquidity adjusted price of a given crypto-quantity in the respective national currency as quoted on the platform. The reference price indicates either the "purchase price", i.e. the price in the local currency at which you buy crypto-currencies from Värdex Suisse, or the "selling price", i.e. the price in the local currency at which you sell crypto-currency. For all transactions that take place at the "reference price", the user agrees that the acceptance of the reference price as the only conversion factor is the condition for using the cryptonow service.

10.2 The voucher card holder acknowledges and agrees that the price of the cryptocurrencies depends on the reference price of the platform. Fluctuating market conditions as well as delays in third-party services (interfaces) can influence the refer-ence price both positively and negatively. Värdex Suisse has no influence on this.

C. Final Provisions

11. Changes and additions

11.1 Värdex Suisse reserves the right to make unilateral changes to the voucher card product, its associated exchange transaction services as well as to these Terms of Use, Exchange Transaction Provisions and Final Provisions at any time.

11.2 The respective valid version is published on the cryptonow website under "https://cryptonow.ch/en/app-terms-of-use" and is considered accepted by the participant from the moment of publication. In the event of any ambiguities and/or contradictions between the German and/or English version of the Terms and Conditions, the German version shall prevail.

12. Severability clause

12.1 Each provision of these Terms of Use shall be construed to be valid and enforceable under applicable law.

12.2 If a material provision of the Terms of Use, Exchange Transaction Provisions or Final Provisions is not enforceable or invalid under the applicable law, it shall only be affected to the extent of its unenforceability or invalidity and shall otherwise be re-placed by a valid and enforceable provision that corresponds as closely as possible to the legal and economic meaning of the invalid provision. The remaining provisions of these Terms of Use shall remain binding and in force. The same applies to contractual loopholes.

13. Place of jurisdiction and applicable law

13.1 These Terms of Use, Exchange Transaction Provisions and Final Provisions are subject to substantive Swiss law, under exclusion of the law of conflicts and the Vienna Convention on Contracts for the International Sale of Goods.

13.2 Exclusive place of jurisdiction for all disputes arising from or in connection with these Terms of Use, Exchange Transaction Provisions and Final Provisions are the courts at the registered office of Värdex Suisse in Baar, Canton Zug.

Last Update: 1st of August 2023