Last updated: 16.10.2024
1. Terms of Exchange Execution
1.1. Provision of Services: Buycoin sp. z o.o. (hereinafter referred to as the “Service”) provides services for exchanging digital assets for fiat funds and vice versa, as well as exchanging digital assets among themselves.
1.2. Transaction Procedure: A transaction (exchange) is carried out after the funds have been credited to the account of Buycoin sp. z o.o. Payment of fiat funds or digital assets under the application is made only after payment confirmation.
1.3. Payment Confirmation: The application is considered paid after the funds from the client (hereinafter referred to as the “User”) have been credited to the account of Buycoin sp. z o.o.
1.4. Completion of Exchange: The exchange is considered completed after the transfer of fiat funds or digital assets to the details specified in the application provided by the User.
1.5. Cancellation of Application and Refunds:
- Refunds after the execution of the application (transaction) are impossible.
- Cancellation of the application is possible only before payment is made or in the following cases:
- If the Service did not fulfill the application within 5 working days after payment.
- If the Service unilaterally refuses to serve the User based on objective reasons specified in the User Agreement.
1.6. Change in Payment Amount: In case the User changes the payment amount of the application, the application will be recalculated, and the transaction will be carried out for the amount actually received by the Service. Recalculation is made based on the actually paid volume at the current exchange rate at the time of the transaction.
1.7. Exchange Rates: The exchange rate of digital assets is published on the rates page. Rates are regularly updated and formed based on the weighted average rates of global cryptocurrency exchanges.
1.8. Validity Period of the Application: The payment of the application must be made within the specified validity period of the application. In case of payment after the expiration of the application’s validity period, you need to contact Buycoin sp. z o.o. support to finalize the application.
1.9. Freezing of Transactions: In case of receipt of unconfirmed digital assets to the Service’s wallet, the transaction will be frozen until all circumstances are clarified.
1.10. Fees: The commission for services provided by the Service for exchanging, buying, or selling digital assets is included in the exchange rate of each exchange direction.
2. Exchange Rules
2.1. Prohibition of Illegal Operations: The User is prohibited from using the Service to conduct illegal operations. The User bears responsibility in accordance with the legislation of the Republic of Poland and the terms of the User Agreement for attempting to exchange suspicious funds.
2.2. Account Blocking: In case of detection of attempts to conduct illegal operations or fraud, the User’s account will be blocked without the possibility of recovery, according to the section on refusal of service in the User Agreement.
2.3. Third-Party Details: It is prohibited to create applications for the purchase, sale, or exchange of funds to third-party details without appropriate permission and passing the verification procedure.
3. Exchange Procedure
3.1. Submitting an Application: The exchange service is provided only by submitting an application with the selection of the type and direction of exchange through the Site.
3.2. Registration and Verification: Only a registered and verified User can submit an application. During registration, it is necessary to provide reliable personal data in accordance with the KYC and AML Policy.
3.3. Start of Exchange: The exchange begins from the moment the User pays for the application. The exchange is considered completed after the funds are transferred to the details specified in the application.
3.4. Verification Procedure: To pay for the application, it is necessary to undergo the verification procedure in accordance with the “Document Verification” section. The User is obliged to provide the necessary documents to confirm identity and, if necessary, additional data.
3.5. Exchange Rate Fixing: After paying the application, the exchange is carried out at the current cryptocurrency exchange rate at the time of the transaction. The rate is fixed in the application at the time of the transaction and may differ from the rate at the time of submitting the application.
3.6. Recalculation of Application: In case of payment of an amount different from the one stated, the application will be recalculated based on the actually received amount.
3.7. Support: In case of questions or problems with processing the application, the User can contact the support service of Buycoin sp. z o.o.
3.8. Timing of Funds Credit: The Service is not responsible for the timing of crediting cryptocurrency or fiat funds after sending the payment, as this depends on the operation of payment systems and the blockchain.
4. Guarantees and Responsibility During Exchange
4.1. Refunds: In case of cancellation of the transaction by the issuing bank after its payment, the funds will be returned minus the payment system commission.
4.2. Transaction Confirmation Speed: When exchanging cryptocurrencies, the speed of transaction confirmations depends on the selected cryptocurrency and the load on its network. The Service cannot influence these processes and is not responsible for delays.
4.3. Responsibility for Errors: The Service is not responsible for errors made by the User when filling out the application. In such cases, funds are not returned.
4.4. Actions of Third Parties: When third parties are involved in the exchange operation, the User is responsible for their actions. The Service is not responsible for transactions carried out by third parties without appropriate consent and verification.
4.5. Suspension of Transactions: The Service has the right to suspend a transaction upon receiving requests from competent authorities or when suspected fraud is detected, in accordance with the KYC and AML Policy.
4.6. Assistance to the User: The Service undertakes to assist in resolving issues related to the exchange and to establish effective interaction with the User.
4.7. Confirmation of Legality of Funds: By making an exchange, the User confirms that they are using legally obtained funds and that the terms of the exchange are fully understood.
4.8. Agreement with Terms: By clicking the “Confirm” button, the User agrees with all the terms of this Regulation and other policies of Buycoin sp. z o.o.
4.9. Changes to the Regulation: The Service reserves the right to make changes to this Regulation at any time. Changes take effect from the moment the new edition is published on the Site.