Bitcoin ATM Terms of Service
Please note that in addition to the present document, further detailed description, terms and conditions of our services can be found in the document entitled Terms and Conditions.
WHO WE ARE AND WHAT WE PROVIDE
Mrcoin.eu is a website offering Cryptoasset online sale and purchase services. The website is operated by MrCoin Ltd. In addition to our online channel, our Cryptoasset sale and purchase services are also available as transactions via a special Internet kiosk (Bitcoin ATM).
Our Bitcoin ATMs are currently installed at the DOBLO Wine Bar (Budapest 7th District, Dob u. 20.) and at the customer service premises of Virpay Pénzforgalmi Szolgáltató Kft. (address: H-9200 Mosonmagyaróvár, Szent István király út 49).
Please take into account the following facts about us:
We are a company registered in accordance with the laws of the United Kingdom, company registration no. 08994240, seat: c/o Selachii LLP Solicitors, 96 Kensington High Street, London, W8 4SG. The company is owned by Shinrai Ltd.
Our activities are regulated by Companies House, the UK authority registering companies.
We have concluded a cooperation agreement with Shinrai Kft., a company registered in Hungary (H-1025 Budapest, Vérhalom utca 40., company reg. no.: 01-09-980648) in which said company undertakes to perform operating, agency and customer service tasks in relation to our service.
You can use the Bitcoin ATM and our service to purchase or sell a number of different cryptocurrencies (hereinafter Cryptoassets). We are only offering temporary access to the Bitcoin ATM. We reserve the right to change or suspend any of our services offered through the Bitcoin ATM at any time without further notice. We assume no liability for the Bitcoin ATM being unavailable to you or third parties for any reason and for any duration of time. As we see fit, from time to time, we may provide access to our entire set of services, or certain parts of it subject to registration only.
You are specifically advised that the exchange rates (value) of Cryptoassets may be extremely volatile (i.e. variable), that is to say extraordinary increases and decreases of exchange rates are equally likely, potentially in the short term. Therefore the value of Cryptoassets purchased through the Bitcoin ATM may decrease very significantly below the funds expended in purchasing them, which means that you may lose a significant part or even the whole of the funds you invested in purchasing them in the event of complete depreciation thereof. You are hereby requested to consider thoroughly and prudently, and, we recommend, with the assistance of financial experts – whether the level or risk associated with Cryptoassets is compatible with your financial capacity and your risk taking profile. OUR ANTI-MONEY LAUNDERING MEASURES (AML) AND THE KNOW YOUR CUSTOMER PRINCIPLE (KYC) Our service provided to you through the Bitcoin ATM (sale and purchase transactions of Cryptoassets) is not available anonymously. In the cases and ways specified in our AML regulations, we may request from you various documents certifying identity and/or your residential address. We reserve the right to check any specific transaction, either in case of suspicion, or as a random check.
TERMS OF SERVICE
Please be advised that you may not use any of our services offered through the Bitcoin ATM for activities that are illegal, prohibited by law or are clearly unethical. In case of any infringement of the law or the present terms, or in case of justified suspicion of such actions, we can ban you from the use of our service without notice, and we may take action to launch proceedings against you under the applicable legislation.
We reserve the right to record, register and retain all information about the transactions initiated through the services available on the Bitcoin ATM that is required in order to discharge our obligation to provide information and data required on the basis of legislative provisions or queries received from our supervisory and/or investigative authorities under all circumstances. In every case, we shall make the services of the Bitcoin ATM available to you in a room where the cameras installed permit the taking of video and audio recordings required for your personal safety and for the secure performance of the transaction initiated using the ATM. By using the Bitcoin ATM, you expressly approve and agree to having audio and video recordings made of you and the performance of the transaction you initiate. The detailed conditions governing surveillance through fixed cameras are specified in the document entitled Information about the camera surveillance system, available at the mrcoin.eu website and on display in the rooms under surveillance.
You are hereby advised that our service available through the Bitcoin ATM (sale and purchase of Cryptoassets) is not an anonymous service. The practical guide to using the service is available at this address: https://support.mrcoin.eu/hc/en/categories/115000142212
CONDITIONS OF USING THE SERVICE – IDENTIFICATION
You may only purchase and sell Cryptoassets in your own name, and you may provide us only your own telephone number. You will receive a text message on the number you provide, which will be indispensable for successfully completing the transaction you initiated. We assume no liability for cases in which you fail to receive the text message for any reason, in particular technical error in the system of the external service provider used and as a result, the transaction you initiated is not completed, or not completed within the expected period of time. For the sale and purchase of Cryptoassets – provided that legislative provisions and/or our internal regulations so require – we may also request a document to certify your identity. The documents suitable for certifying identity may only be valid, photo ID cards issued by public agencies.
- We will need photos or high-resolution (300 DPI) colour scanned copies of the documents certifying identity and/or residential address, including, but not limited to, the following documents:
- Documents suitable for certifying identity:
- Valid passports issued in EU member states, or the photo page of valid passports issued outside the EU
- Both sides of a valid Personal ID Card
- Both sides of a valid Driving Licence
- Documents suitable for certifying residential address:
- Public utility bills showing residential address – gas bill, electricity bill, fixed line phone bill
- A bank statement showing the residential address
- Relevant side of an official Address Certificate containing the residential address
- Documents suitable for certifying identity:
If the photo is taken using the camera of the Bitcoin ATM, at times the plate of the Bitcoin ATM document camera may get dirty, resulting in blurred, unreadable, dirty photos of official documents, which we will be unable to accept. Please check the quality of the image every time, and if the photo is not in focus, please wipe the plate of the document camera with a soft cloth and take another picture.
By using the services of the Bitcoin ATM, you accept and authorise our company to take all steps and perform all controls required for personal identification, either directly or through the use of third-party services, that allow us to prevent user conduct that is illegal or clearly unethical. In order to purchase Cryptoassets – provided that it is required by legislative provisions and/or our internal regulations – we may also request a portrait photo of yourself taken by you, also at a sufficient resolution.
If we are required by legislative provisions and/or our own internal regulations to perform preliminary processing of the documents and photos you submit prior to the performance of the Bitcoin ATM transaction (identification and verification), then this will only take place on working days, between 10 a.m. and 6 p.m. Please take into account that in such cases, the Bitcoin ATM transaction you initiate may only be completed after identification if completed, and therefore the time of completion cannot be predicted in advance – due, for instance, to any unforeseen technical obstacle or overloading of the blockchain network. We assume no liability whatsoever for consequences of the fact that the exchange rate in effect when you initiate a transaction and the actual exchange rate at the time the transaction is completed may significantly differ.
We shall inform you about the completion of the identification process and the acceptance of the documents you submitted in a text message. We assume no liability for cases in which you fail to receive the text message for any reason, in particular technical error in the system of the external service provider used and as a result, the transaction you initiated is not completed, or not completed within the expected period of time. We reserve the right to adjust and change any purchase and sale limits and maximum amounts without advance notice.
The performance of your order, the transaction exchange rate
If, under our anti-money laundering (AML) policy, advance vetting and identification of the customer is required for performing a transaction (irrespective of its level), then we shall be unable to initiate the Cryptoasset purchase or sale procedure until the order status becomes ’approved’ on the basis of the client vetting and identification. In view of the fact that the completion of an order through the Cryptoasset exchange, and the time of completion in the blockchain network are both impossible to determine or calculate in advance (we need to wait for the required confirmations in the blockchain network), we are unable to undertake to perform transactions within any specific period of time or by a specific deadline, and hence we are also unable to guarantee the exchange rate at the time of performance. If a longer period of time passes between the submission of the order and performance due to the reasons described above, then – in view of the high volatility of the prices of Cryptoassets (i.e. large variations of exchange rates within short periods of time) you have to be prepared for the eventuality that we will only be able to complete your order at a higher or lower exchange rate than the one current at the time of placement of the order. In summary, we shall do everything within our power to complete transactions as soon as possible, but our company DOES NOT GUARANTEE ANY SPECIFIC EXCHANGE RATE, PERFORMANCE DEADLINE OR PERIOD.
Minimum order (transaction) amount
The Bitcoin ATM will indicate the minimum order amount for Cryptoasset sales or purchases when you initiate a transaction. We reserve the right to change the minimum amount of an order at any time, without advance notice.
If, as a result of any error, a refund is required, we reserve the right to investigate the cause of the error, which may take an extended period of time. If the conversion has already taken place, we shall refund the converted amount, if it has not taken place, we shall refund the unconverted sum. If the need for the refund is not the result of an error attributable to us, we reserve the right to apply a handling fee. (Handling fee: 3% of the amount of the transaction but no less than HUF 3000 or EUR 10, or the equivalent in Cryptoassets at the exchange rate of the transaction itself.)
We reserve to charge the above handling fee for all of our operations that become necessary because you have failed to comply with the regulations governing our service, or our instructions to you issued via the ATM or directly.
You shall have compensation liability for all damage incurred in the Bitcoin ATM or its operation due to any act of vandalism or displacement of the Bitcoin ATM by you, or due to inappropriate use of any kind. (E.g. removal of network cable or power cable, soiling with liquids of any kind, placement of any foreign objects other than banknotes in the slots of the machine, etc.).
CONDITIONS APPLICABLE TO PURCHASES OF CRYPTOASSETS
We assume no liability whatsoever for consequences of the Bitcoin ATM being unable to read the QR-code you present when starting a transaction, which could be the case particularly if you use a Cryptoasset wallet that generates QR codes that are not compliant with the standard, resulting in the QR-code failing to read and hence the transaction not being completed. In such cases, please visit the FAQ section of our website, where we provide advice to ensure successful reading of the QR-code.
We are only able to send the Cryptoassets you purchased to the Cryptoasset wallet address you specified in the course of making the purchase. So once we have sent the Cryptoassets to you to the wallet address specified, we have absolutely no way, under any circumstances, to recover them. We assume no liability whatsoever for the consequences of your specifying the Cryptoasset wallet address incorrectly, or of your having no access to the Cryptoasset wallet specified, rendering you incapable of disposing over its content (balance). If it is not possible to complete the transaction because of the Cryptoasset wallet address you specified, we reserve the right to apply a handling fee when refunding the amount you deposited.
If you do not have a wallet suitable for the Cryptoasset you intend to purchase, during the purchase of the Cryptoasset, at your request, the Bitcoin ATM shall print a so-called paper wallet for you (the kind of voucher issued by the General Bytes model of Bitcoin ATMs). Please make sure to handle the paper wallet with the greatest possible care and diligence, and do not make it accessible, cognizable or readable for anyone else, as that may result in third parties gaining access to the Cryptoasset balances stored in it. We assume no liability whatsoever for the consequences of your not acting with appropriate care and diligence and thereby making your paper wallet accessible, cognizable or readable to third persons.
Whenever you receive a printed paper wallet, please always check that it contains a truly existing and valid pair of private and public keys. We assume no liability for the consequences of your failure to do so. The Bitcoin ATM does not store the private key on the paper wallet, it is only stored for as long as the wallet takes to print, so if you lose the paper wallet, we are unable to restore the private key.
We assume no liability whatsoever for the consequences of the Bitcoin ATM refusing to take the banknotes you present to purchase Cryptoassets for any reason.
The purchase price of the Cryptoassets and the other costs required for the completion of the transaction may only be paid by depositing valid, intact, undamaged, unwrinkled banknotes.
We retain the right to charge the network transaction fee of the Cryptoassets (the fee of the miners in the blockchain) to you in full, and to charge an additional transaction fee as well. In such cases we shall inform you clearly about those costs prior to the placement of the order using text displayed by the Bitcoin ATM or displayed in a conspicuous location in the customer area. We shall deduct the above transaction fee from the amount you pay in for the transaction you initiate, and we shall only use the balance after the deduction to purchase Cryptoassets for you.
Please note that due to saturation of the blockchain, or due to other technical errors, it may happen that the Cryptoassets you purchase are not credited to your Cryptoasset wallet address immediately after the transaction, but only at a later time, which cannot be predicted in advance, but which may amount to hours or even days in extreme cases.
If the blockchain gets very busy, or if this is otherwise necessitated by high mining costs, we reserve the right to transfer the Cryptoassets associated with the transaction you initiated in batches together with Cryptoassets involved in other transactions, which may result in the Cryptoassets you wish to purchase not being credited at your Cryptoasset wallet address immediately after the transaction but at a later – unpredictable – time.
You are hereby advised that due to the characteristics of the technology used, it is not possible to recall Cryptoassets or to amend the transaction in any way after they are transferred, therefore our company ASSUMES NO LIABILITY WHATSOEVER FOR THE CONSEQUENCES OF YOUR HAVING PROVIDED THE CRYPTOASSET WALLET’S ADDRESS INACCURATELY, OR OF YOUR HAVING NO ACCESS TO IT.
We shall consider an order completed when the transaction in question is confirmed in the public blockchain associated with the Cryptoasset in question. If, despite the transaction being confirmed, the Cryptoasset is not credited to the receiving wallet, that’s a technical problem on the recipient’s side, over which our company has no influence, and for which, we, therefore, assume no liability.
CONDITIONS APPLICABLE TO THE SALE OF CRYPTOASSETS
When initiating a sale transaction, you specify the amount in HUF or EUR for which you wish to sell Cryptoassets at the Bitcoin ATM. As the next step, the Bitcoin ATM displays a QR-code for you with the required information (the address of the Cryptoasset wallet and the amount/sum to be transferred). Please be particularly careful in ensuring that you send the quantity of Cryptoassets specified in the QR code to the address specified as a single transaction, because if the quantity of Cryptoassets sent to the address is different, or if the amount arrives in several transactions, the transaction initiated will not be completed, and we assume no liability whatsoever for that. In such cases, we shall return the Cryptoassets sent to the wallet address of the Bitcoin ATM to you after deducting the mining fees payable, and we may also deduct Cryptoassets to cover our handling fee (3% of the transaction’s value, but at least HUF 3000 or EUR 10). In that case, we shall use the exchange rate that was determined for the transaction.
You are requested to be particularly careful and diligent in handling the credit coupon (like the ones issued by General Bytes Bitcoin ATMs), because without it (if you lose it or if its condition is unsuitable for use) we will not be able to pay you the money received from the sale of the Cryptoassets. We assume no liability whatsoever for the loss of, or damage to, credit coupons.
If, for any reason, the Bitcoin ATM fails to dispense the amount, or the entire amount that is the financial value of the Cryptoassets you sold, please always check the dispenser slot of the machine and make sure to take all the banknotes issued by the machine, even if you detect a problem or if the ATM displays an error message. We will do our best, but we are unable to assume responsibility for banknotes issued by the ATM that you fail to take from the machine and to guarantee their return to you. In all such cases, please contact our customer service. We will be able to provide assistance with transactions that are not completed or only partially completed if you complete the error report and provide the data required there.
We shall not be liable if you determine a low mining fee, but after the submission of your order the load on the network of the Cryptoasset increases and so your transaction is not confirmed in time. Delivering the required amount to the appropriate address in time is your responsibility.
The sale of cryptocurrency you initiate at the ATM has an expiry, after which, if the network does not confirm your transaction, the machine shall not dispense the funds. In the case of the General Bytes Bitcoin ATM, the ATM informs you of the time of expiry before which the transaction must be confirmed. If the order expires, our customer service will assist you, but by default, we deduct a handling fee and return the Cryptoassets you have sent to you. In the case of the Lamassu Bitcoin ATM, you have 24 hours after confirmation to collect the funds. If it is still possible to complete the transaction, we may decide to offer the option of completing the order, but in such cases we shall reserve the right to charge the above handling fee.
Completion of your sale order, the transaction exchange rate and the sale price of the Cryptoassets
In view of the fact that a period of time will pass between your placement of the sale order and the arrival of the Cryptoassets to our Cryptoasset wallet address that is not possible to determine or to calculate in advance (we need to wait for the required confirmations in the blockchain network), we are unable to guarantee any period of time or deadline for the completion of the transaction, or the exchange rate at the time of the transaction. We reserve the right to change the minimum number of confirmations required as a function of the current workload on the blockchain network at any time, with no prior notice.
If, due to the reasons indicated above, a longer period of time passes from the placement of the sale order to completion, then – in view of the high volatility of the exchange rate of the Cryptoassets (i.e. extreme changes in exchange rates in short periods of time) – you should be aware that we may only be able to complete your sale order at an exchange rate that could be either higher or lower than the exchange rate in effect at the time you placed the order.
In summary, we shall do everything within our power to complete transactions as soon as possible, but our company DOES NOT GUARANTEE ANY SPECIFIC EXCHANGE RATE, PERFORMANCE DEADLINE OR PERIOD.
Once more you are reminded that you may not use our services available through the Bitcoin ATM for any illegal activity that are prohibited by law or are clearly unethical. In case of any illegal activity or infringement of the present terms and conditions, or in case of well-founded suspicion of such we may ban you permanently without notification and may take steps to initiate procedures against you as required by the applicable legislation.
RELIABILITY OF THE CONTENT DISPLAYED BY THE BITCOIN ATM
We do everything we can to ensure that the content available and displayed by the Bitcoin ATM is accurate and true, but these data cannot be regarded as completely reliable information. We assume no liability for any consequence of the user or any third person placing their trust in that content. If you have any questions or comments, or if you require assistance or information, please contact our Customer Service.
CHANGES TO THE CONTENT AVAILABLE ON THE BITCOIN ATM
We regularly check and update the information and content available in the Bitcoin ATM, but we are unable to guarantee that the content is at any particular time up-to-date, and we have no obligation to update that content. We may change the information and content available through the Bitcoin ATM at any time, we may suspend access to the Bitcoin ATM and we can close it down for an unlimited period of time without prior notice.
We assume no liability and offer no warranty of the accuracy and comprehensive nature of the content available on the Bitcoin ATM.
Within the bounds permitted by applicable legislation (along with other companies in our group and third parties with business relationships with us), we specifically exclude:
- Warranties and other undertakings that would be applicable under the law unless excluded
- Our liability for any direct or indirect losses or damage incurred by any user in relation to, as a result of, as a result of the inability to use the Bitcoin ATM and the content available through it, including without any limitation any liability for lost profits or reductions of clientele.
We do not exclude liability for damage to life or bodily integrity resulting from our negligence and liability for false representation, or any other type of liability that may not be excluded under the law.
INFORMATION ABOUT YOU, THE USE OF THE BITCOIN ATM AND OUR DATA PROCESSING REGULATIONS
Our data processing and data protection regulations compiled on the basis of Regulation (EU) 2016/679 of the European Parliament and the Council on the protection of natural persons with regard to the processing of personal data and the free movement of such data (GDPR – General Data Protection Regulation), the applicable laws of the United Kingdom and Hungarian legislation regulate the information about you that we process and the way we process it.
LEGAL JURISDICTION AND GOVERNING LAW
We may amend the provisions of the present regulations at any time by amending the text of the present web page. Please visit this page regularly in order to be informed of any such amendments, as they shall be bounding upon you. Some of the provisions specified on this page may be superseded by provision or notices published on other web pages of ours.
Budapest, 25 May 2018