TERMS OF SERVICE

Our service lets you buy and sell cryptocurrencies, such as Bitcoin, Ether, Litecoin, or any other cryptocurrency or cryptoasset (“Cryptoasset”).

CRYPTOASSET TERMS OF PURCHASE

Terms of purchase for avoiding surcharges

In order for your purchase to be completed without a surcharge, you must meet the following requirements:

  • In order to identify your transaction, you must provide the order number provided by us (eg. MRC-1234-5678) completely and without any missing or incorrect digits, as a message/reference in your bank transaction, regardless of the type of transaction (wire transfer, cash payment or other),
  • In the event of payment via wire transfer or cash payment, the amount credited on our bank account must match the amount ordered by you in the purchase process,
  • The natural person, legal entity, organization or association without legal personality who completed the wire transfer or cash payment, must be the same natural person, legal entity, organization or association without legal personality who initiated the purchase, heretofore confirmed as the customer,
  • When placing the order, you must sign the disclaimer with your full name,
  • In the event of payment via wire transfer or cash payment, the currency of the credited amount on our bank account must match the currency provided by you during the purchase process,
  • During payment, you must provide the payment information provided by us completely and accurately,
  • One transaction may only consist of one order (identified by an order number) and one wire transfer or cash payment,
  • Actual payment must proceed according to the payment instructions (for example, if, despite the instruction of wire transfer, payment is provided via cash payment then we may charge an additional fee).

Surcharge amount

Orders initiated with an incorrect, incomplete or inaccurate order number, furthermore any order that do not comply with the requirements defined above, can only be processed and fulfilled manually. In the case of manual processing we may incur a 3% surcharge, with a minimum of 3000 HUF or 10 EUR.

Order fulfilment, exchange rate, and amount of Cryptoasset sent to your address

If according to our AML policy client due diligence and identification is deemed necessary before an order can be fulfilled (independent of the level of verification), then we are not able to accept the amount potentially credited to our bank account, until our client due diligence and verification processes deem the order status fit for completion. Initiating payment before complying with our due diligence requirements is strongly discouraged.

Processing of a given order can only start if payment was initiated after receiving payment instructions from us. In the event that payment was sent prior to receiving payment instructions from us, we’ll consider the payment to be without an order number and therefore unidentifiable. In such cases we may incure a surcharge. For more information, please refer to “Terms of purchase for avoiding surcharges.”

If the amount provided for the purchase is credited to our bank account and client due diligence and identification no longer necessitates the suspension of order fulfillment, or if there was no cause for client due diligence and identification in the first place, then we will begin to process your order. First we will deduct potential bank fees, and if the order – due to the above defined mistakes, omissions or inaccuracies – cannot be fulfilled automatically, we will incur a surcharge. Bank fees are not only applicable in the event of a wire transfer, but may also apply to cash payments. We will exchange the remaningamount to the Cryptoasset ordered according to the market currency exchange rate available to us during the exchange process, and then send the Cryptoassetto the address provided by you. Due to the unpredictable time period between the initiation of the wire transfer and crediting of the amount to our bank account, but also due to undeterminable and unpredictable confirmation times on the blockchain network, we can neither commit to a definable time period or deadline for the fulfillment of your order, nor can we guarantee a fixed exchange rate at the time of completion. In the event that, due to the above defined causes, order initiation to completion takes longer than the average 2 hours usually experienced by us, then – in light of the high volatility of Cryptoasset exchange rates (that is the rapid fluctuation of the exchange rate in a short amount of time) – you must be prepared for the possibility that we will only be able to fulfill your order at a lower or higher exchange rate than that available to you at the time of your order initiation.

In conclusion, we will do everything in our power to fulfill your order in the shortest amount of time possible; however, MRCOIN DOES NOT GUARANTEE ANY SPECIFIC EXCHANGE RATE, COMPLETION DEADLINE OR FULFILMENT PERIODS.

Due to the technical nature of Cryptoassets we cannot modify or revert Cryptoasset transactions that have already been sent by us. Therefore MRCOIN IS NOT RESPONSIBLE FOR CRYPTOASSETS SENT TO ADDRESSES YOU DO NOT CONTROL OR ADDRESSES YOU INCORRECTLY PROVIDED TO US.

An order is considered as completed when the transaction of the the ordered Cryptoasset is confirmed on the public blockchain. If the Cryptoasset is not shown on the receiving side despite it being confirmed on the public blockchain it is a technical issue of the receiver of the Cryptoasset. MrCoin has no control over the receiver address, wallet or account, and thus cannot be held liable for balances shown inaccurately on the receiver’s end.

Refund

Only bank wire transfers may be eligible for a refund, cash payments are non-refundable. Once we sent out the Cryptoasset we can't refund your payment. Please make sure you spell your Cryptoasset address properly, we can't give refunds if you misspelled your address. If the Cryptoasset’s address format allows it, we do check its formal correctness , however we have no way of checking if you really control the address. If you change your mind and rather not want to buy the Cryptoasset, but you have already paid the order amount due to us, we can give you a refund in case we have not started processing your order. We can only refund to the same bank account number we received the payment from. In the case of a refund we deduct any banking fees that may occur and incur an additional 3% surcharge thensend the remaining amount back to you.

Bank fees

In select situations we may pass on bank fees. In these situations we will indicate the amount of potential bank fees during the order initiation process. Make sure to initiate your transaction by choosing to share the fees between payer and beneficiary (on most banking websites, this option will appear as “SHA”). In the event that an unexpected fee appears on our end (e.g. if you pass your bank fees onto us, or payment is not completed according to the payment instruction provided by us), we will deduct the overage from your order before purchasing the Cryptoasset.

Order limits

The minimum amount of Cryptoasset you can buy is shown during the ordering process and is subject to change according to current market conditions. In order to conform anti-money laundering laws the maximum amount of Cryptoassets you can buy is defined in our AML policy. We reserve the right to modify order limits according to market conditions without any further notice.

CRYPTOASSET TERMS OF SALE

Order fulfillment and exchange rate for Cryptoasset sale

If according to our AML policy client due diligence and identification is deemed necessary before an order can be fulfilled (independent of the level of verification), then we cannot initiate the sale of the Cryptoasset sent to our address, until our client due diligence and verification processes deem the order status fit for completion. Initiating payment before complying with our due diligence requirements is strongly discouraged.

If the amount provided for the sale is confirmed on our Cryptoasset address and client due diligence and identification no longer necessitates the suspension of order fulfillment, or if there was no cause for client due diligence and identification in the first place, then we will begin to process your sale. We will sell the Cryptoasset according to the market currency rate available to us during the exchange. We will deduct any potential wire transfer fees then we will transfer the remaining amount to the bank account provided by you. Due to the unpredictable time period between the initiation of the Cryptoasset transaction and confirmation time (we must await the necessary confirmation on the blockchain network – up to 1,000,000 HUF or 3,000 EUR Bitcoin requires 1 confirmation and Ethereum requires 12 confirmations, above 1,000,000 HUF or 3,000 EUR Bitcoin requires 6 confirmations and Ethereum requires 40 confirmations), we can neither commit to a definable time period or deadline for the fulfillment of your order, nor can we guarantee a fixed exchange rate at the time of completion. We reserve the right to change the required confirmation times based on blockchain network capacity without any further notice.

In the event that, due to the above defined causes, order initiation to completion takes longer than the average 2 hours usually experience by us, then - in light of the high volatility of the Cryptoasset exchange rates (that is the rapid fluctuation of the exchange rate in a short period of time) – you must be prepared for the possibility that we will only be able to fulfill your order at a lower or higher exchange rate than that available to you at the time of your order initiation.

In conclusion, we will do everything in our power to fulfill your order in the shortest amount of time possible; however, MRCOIN DOES NOT GUARANTEE ANY SPECIFIC EXCHANGE RATE, COMPLETION DEADLINE OR FULFILMENT PERIODS.

Order limits

A sale transaction must reach the Cryptoasset equivalent of a minimum of 60 EUR or 20,000 HUF. In order for us to meet the anti-money laundering regulations, the maximum amount of a Cryptoasset sale has been defined by our Anti-Money Laundering (AML) Policy.

KYC and AML

MrCoin is not an anonymous Cryptoasset buying and selling service. In accordance with our KYC and AML policies, we reserve the right to carry out additional checks for any particular transaction whether we are suspicious as to the transaction or if we are simply carrying out spot checks.

Continue to full Terms of Service