TERMS & CONDITIONS
Effective date: February 21th, 2024
These Terms of Use (“the Terms”) is an agreement between you (hereinafter “Customer”, “User”, “You”, or “Your”) and Elevate Eco s.r.o., reg. number 21273006, a company registered at Cimburkova 916/8, Žižkov (Praha 3), 130 00 Praha (“Platform”, “Company”, “we”, “our” or “us”) operating the https://kunava.io website (“the Website”). The Company’s activity is regulated by the Finanční analytický úřad (Financial Analytical Office) in the Czech Republic and licensed to provide virtual currency services of exchanging a virtual currency against a FIAT currency, as well as digital asset storage services.
The Terms rule on the relationship between the Company, being the provider of the Services and You being a registered User of such Services.
The Services are offered to You via the website https://kunava.io.
If you do not consent to any of the Terms, the Privacy Policy and other terms and conditions outlined on the Platform, User shall cease using the Platform and the Services.
These Terms cannot be amended on behalf of a User and by using this Platform, You agree to this, as well as any further amendments that the Company may introduce on the Platform from time to time, with which the User shall be acquainted on his own be attending the Website and viewing the versions of these Terms having been modified.
Age Restrictions
The Website shall only be available to persons of at least 18 years old, having the legal capacity to engage into the agreement under these Terms. You represent and warrant that You meet these requirements by using the Website.
Prohibited Activities
The Platform does not service any business, entity or person conducting or engaged, whether directly or indirectly, in conducting any of the activities below:
- adult content and services, including but not limited to any types of pornography and other obscene materials (including literature, imagery and other media), sites offering any sexually-related services such as prostitution, escorts, pay-per view, and adult live chat features;
- deceptive marketing and false advertising services;
- religious and/or spiritual organizations;
- sale of weapons of any kind, including but not limited to firearms, ammunition, knives, explosives, or related accessories;
- certain regulated products and services, including but not limited to marijuana dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online prescription or pharmaceutical services; age restricted goods or services; and toxic, flammable, and radioactive materials;
- pseudo-pharmaceuticals - companies manufacturing and or selling untested or unapproved pharmaceuticals;
- drugs and drug paraphernalia, including but not limited to, sale of narcotics and controlled substances;
- money-laundering-related activities, fraud, terrorist financing, or any other type of financial crimes;
- any sort of Ponzi schemes, pyramid schemes, or multi-level marketing program;
- goods or services that infringe or violate any copyright, trademark, or proprietary rights under the laws of any jurisdiction;
- wash trading, front-running, insider trading, market manipulation or other forms of market-based fraud or deceit;
- purchasing goods of any type from hidden service markets or “Darknet” markets, or any other service or website that acts as a marketplace for illegal goods (even though such marketplace might also sell legal goods);
- any other activity, goods, or services that from time to time we deem to be unacceptable or of high risk, and which, for example, may be restricted by our and your bank or payment partners;
- any other unlawful activities which would, in our sole discretion, violate, or assist in violation of, any law, statute, ordinance, or regulation, sanctions programs administered in the countries where we conduct business, or which would involve proceeds of any unlawful activities;
In the event that we learn or reasonably suspect, in our sole discretion, that your account is or may be associated with any of the Prohibited Activities listed above, we will consider it a breach of these Terms, and we reserve the right to suspend an account of any service to the User if such activity is detected or suspected to have taken place and report any such suspected or actual Prohibited Activities to law enforcement authorities.
Value of Virtual Assets and the Risk of Loss
Investing in Virtual Assets carries a high level of risk and, as such, may not be suitable for all Users. A User should not transact in Virtual Assets if they are seeking a regular or low risk return on their invested capital. Unlike traditional investment products, Virtual Assets do not generally have any underlying or intrinsic asset value or any assets supporting their price.
Trading in Virtual Assets is highly speculative and involves significant risk. There is limited or no fundamental reasoning behind the pricing of Virtual Assets which may be subject to irrational and uncontrollable market forces. Whether the future price for a Virtual Asset will increase or decrease is unpredictable and purely speculative. Likewise, there is a risk that a Virtual Asset may not have any value whatsoever. Virtual Assets are therefore traded at the User's own risk. Virtual Asset values are highly volatile and can fluctuate substantially in comparison to Fiat Currencies or traditional investment products. As a result, market conditions can change significantly in a very short period of time. Furthermore, the value of a Virtual Asset may never recover if there is no interest or development in the Virtual Asset. A User is therefore at risk of losing all or a substantial portion of the value of its Virtual Assets. Such losses can occur in a very short period of time.
A User understands that they should be able to bear the risk of potential losses up to the full amount of their invested capital and Users should only invest capital that they can afford to lose without impacting their standard of living and proportionate to his or her income.
Trading in Virtual Assets is not appropriate for Persons with:
- limited resources;
- limited investment experience; and/or
- a low risk appetite to investment or trading losses.
A User should ensure that they have an understanding of the economic and other types of risks involved in trading Virtual Assets. A User should seek professional advice where appropriate.
Before opening an Account, a User is deemed to have evaluated and confirmed that they understand the risks involved. The Company is not liable for any interest or lost profit a User may have encountered in the result of use of the Platform.
Services
We provide Users with the following exchange service, namely place Orders to purchase of Virtual Assets in exchange for fiat money.
You have the right to browse the real-time quotes and transaction information of virtual asset products on the Platform, to submit virtual asset transaction instructions and to complete the virtual asset transaction through this Platform.
To enjoy access to the Services, you must first become a User by registering and verifying an account. The Services are only accessible through an Account and are for the sole use and enjoyment of the User under which name the Account was opened.
Our descriptor is "UG*Kunava37125289908"
Registration Process
To open an Account on the Platform you must go through the registration process.
Only individuals who reached 18 years of age are eligible to open an Account.
We reserve the right in our sole discretion to decline the opening of an Account, and to temporarily or permanently suspend access to any Account (any part of it or any particular functionality of it) where required or recommended to do so by applicable governmental, regulatory or law enforcement authorities or its own risk considerations.
As part of the Account registration process, you will be required to choose username and password and, possibly, a multi-factor authentication system (collectively, “Login Credentials”). For security purposes we may require you to change the Login Credentials associated with your Account from time to time. You may only access your Account using your Login Credentials unless otherwise authorised by us.
Verification Process
As part of the Verification Process, you will be required to provide Platform with the documentation and information needed to establish and verify your identity and determine if you satisfy the AML Requirements. You shall therefore provide us with the accurate information that we may request in order to complete the Verification Process, which may include:
- personal information such as but not limited to your name, address, date of birth;
- contact information, including phone number, email address, and any other contact information which we may ask from time to time;
- biometric format of identity verification, such as live photo or video identification;
- copies of identity documents, such as passport or driving license, as well as proof of address, and any other such document as we may see fit to verify your identity and place of residence; and
- copies of documents and information to verify your source of funds and/or wealth, including details of other electronic wallets you hold with Third Party service providers and documentation and information on or in connection with deposits of fiat money from accounts you hold with other service providers. (in case of enhanced due diligence)
Platform reserves the right, directly or indirectly, to make any inquiries we deem necessary to verify the accuracy and relevance of the information you have provided as part of the Verification Process.
We will inform you of whether you have met the AML Requirements and, as such, of whether you are eligible to open the Account and become a User, via the email address indicated by You.
Account Management and Security
You may only access your Account using the Login Credentials that are associated with it. You are solely responsible for managing and maintaining the security of your Login Credentials. We reserve the right to make your continued access to and use of the Account, the Platform, and the Services subject to a new Verification Process, and/or to the provision of additional information which we may require in order to determine whether you meet our AML Requirements as these may be from time to time. You are responsible to ensure that the information associated with your Account is correct at all time, to maintain the correctness and veracity of any such information.
It is your responsibility to maintain access to your account secure, and to implement the following measures:
- selecting a unique password that you do not use for other websites, by periodically updating your Login Credentials, and by keeping your Login Credentials and other forms of authentication confidential and separate from each other;
- keeping your Login Credentials strictly confidential;
- logging out of your Account whenever you are not using it;
If any activity on your Account was not authorised by you or if you have any reason to suspect so, you must inform us as soon as possible by writing to us. Failure to notify us immediately after you identified the Unauthorised Access may result in you losing your entitlement to have us investigate your matter and, subject to our reasonable discretion, correct it.
Account Suspension and Termination
Users may terminate their Account at any time by providing us with a prior written notice and following the resolution of any pending activity on their Account, including the closing of all open positions. The notice must be sent to us via email and must specify the User's intent to terminate the Account.
We reserve the right to suspend the access to the Platform, provision of Services to you and/or to terminate your Account immediately if you refuse or fail to complete a Verification Process, including situations in which you fail to provide the required information in breach of the Terms and/or for or in connection with any illegal or fraudulent activity, we reserve the right to suspend the provision of the Services to You, or to immediately terminate your Account, and to take further action against you. This also includes the provision of forged documents and/or false personal information, for example.
Please note that we are obliged to store information pertaining to your Account following termination for at least five (5) years and that such information will be treated in accordance with the Privacy Policy.
Placement of Orders
For security measures and client understanding of their own decisions, we implemented a 24-hour cooling-off period is for newly registered clients. Upon registration, clients are unable to put any orders or make transactions on our platform. This time period is mandatory and cannot be bypassed.
Orders pertinent to Exchange Services are placed on the Platform through a User’s Account. You understand that we execute all Orders in reliance on your promise that you intend to exchange your fiat money Virtual Assets with Virtual Assets.
When placing an Order, you will be prompted to provide us with the information we require to effect the Order on your behalf, including:
- the specific type of Virtual Asset or fiat money you intend to exchange (“Consideration”);
- the amount of Consideration;
- the specific type of Virtual Asset or fiat money which you desire to obtain in exchange for the Consideration; and
- any other information which we would require to fulfil the Order, such as your external virtual cryptocurrency address.
Service Fees and Other Fees
Through the Website, User can receive the services of purchasing virtual currencies such as (BTC, ETH, USDT TRC-20 and USDT ERC-20) in exchange for EUR.
If a User uses the Platform services, the Platform will charge relevant Platform service fees on the User. Each item of Platform service fee shall be subject to the description and rates of fees listed on the Platform when the User uses the Platform services. The Platform reserves the right to unilaterally formulate and adjust the rates of the Platform services fees. You can check the Pricing section on our website to check the current fees.
The Users may have to pay to third parties a certain third-party service fee in connection with their use of the Platform services. For the specific rates of such third-party service fees, please refer to relevant web pages of the Third-party Websites, or the Platform's reminders and fee rates. The Users agree to pay such service fees to the third parties on their own or by entrusting the Platform or a third party designated by the Platform according to the aforementioned rates.
Intellectual Property
Intellectual property rights, including trademark rights, patent rights, copyrights, trade secrets, and so on, to all the content on the platform, including works, pictures, archives, information, materials, platform architecture, the arrangement of the Platform screen, Platform design, text and graphics, software compilation, the relevant source code and software, are legally owned by the Platform or other rights-holders.
Without the written consent of the Platform or other rights holders, no one is allowed to use, modify, copy, publicly disseminate, change, distribute, release or publicly publish the Platform program or content without due authorization.
The Users are not allowed to download (except for web page caches) or modify the Platform or any part thereof without the explicit written consent of the Platform. The Users are not allowed to resell or make commercial use of the Platform or any of content thereof; the Users may not: collect and use product catalogues, descriptions and prices, make any derivatives of the Platform or content thereof; download or copy account information or use any data collection robots or similar data collection and extraction tools for other commercial interests. Without the written permission of the Platform, it is strictly prohibited to systematically obtain the content of the Platform to directly or indirectly create or edit collections, compilations, databases, or personal name and address records (whether or not through robots, spiders, automatic instruments, or manual operations). In addition, it is strictly prohibited to use the content and materials on the Platform for any purpose that is not explicitly permitted by these Terms.
Without the explicit written consent of the Platform, the Platform website or any part thereof may not be copied, photocopied, duplicated, sold, resold, accessed or otherwise used for any commercial purpose. Without the explicit written consent of the Platform, the Users are not allowed to use any technique to acquire any of the trademarks, logos or other proprietary information (including images, text, web designs or forms) of the Platform or affiliated companies thereof. Without the explicit written consent of the Platform, Users are not allowed to use the name or trademark of the Platform or affiliated companies thereof in the form of meta tags or any other "hidden text". Any such unauthorized use will result in termination of the permit or license granted by the Platform.
Neither the Users’ logging into the Platform nor their use of any service provided by the Platform shall be deemed as the transfer of any intellectual property rights from the Platform to Users. The Users are subject to the obligation to respect intellectual property rights, and should the Users infringe on any of the intellectual property rights, the User shall bear legal liabilities to the Platform, including indemnifying the Platform against damages that may arise therefrom.
Limitation and Exemption of Liability
You understand and agree that under no circumstance the Platform shall be held liable for any of the following:
- loss of income;
- loss of transaction profits or contractual losses;
- disruption of the business
- loss of expected currency losses
- loss of information
- loss of opportunity, damage to goodwill or reputation
- damage or loss of data;
- cost of purchasing alternative services;
- any indirect, special or incidental loss or damage arising from any infringement (including negligence), breach of contract or any other cause, regardless of whether or not such loss or damage may reasonably be foreseen by us, and regardless of whether or not we are notified in advance of the possibility of such loss or damage.
You understand and agree that we shall not be held liable for any damages caused by any of the following events:
- Where we are properly justified in believing that your specific transactions may involve any serious violation or breach of law or agreement;
- Where we are reasonably justified in believing that your conduct on this Website is suspected of being illegal or immoral;
- The expenses and losses arising from the purchase or acquisition of any data, information or transaction, etc. through the services offered by this Website;
- Your misunderstanding of the Services offered by this Website;
- Any other losses related to the services provided by this Website, which cannot be attributed to us.
Where we fail to provide the Services or delay in providing such Services due to information network equipment maintenance, information network connectivity failures, errors in computer, communications or other systems, power failures, weather conditions, unexpected accidents, industrial actions, labor disputes, revolts, uprisings, riots, lack of productivity or production materials, fires, floods, storms, explosions, wars, failure on the part of banks or other partners, collapse of the Virtual asset market, actions by government, judicial or administrative authorities, other acts that are not within our control or beyond our inability to control, or due to causes on the part of third parties, we shall not assume any responsibility for such failure to provide service or delay in providing services, or for the resultant loss you may sustain as a result of such failure or delay.
We cannot guarantee that all the information, programs, texts, etc. contained on the Platform are completely safe, free from the interference and destruction by any malicious programs such as viruses, trojans, etc., therefore, your log-into this Website or use of any services offered by this Website, download of any program, information and data from this Website and your use thereof are your personal decisions and therefore you shall bear the any and all risks and losses that may possibly arise.
We do not make any warranties and commitments in connection with any of the information, products and business of any third party websites linked to this Website, as well as any other forms of content that do not belong to us; your use any of the services, information, and products provided by a third party website is your personal decision and therefore you shall assume any and all the responsibilities arising therefrom.
We do not make any explicit or implicit warranties regarding your use of the Services offered by this Website, including but not limited to the applicability, freedom from error or omission, consistency, accuracy, reliability, and applicability to a specific purpose, of the services provided by this Website. Furthermore, we do not make any commitment or guarantee in connection with the validity, accuracy, correctness, reliability, quality, stability, integrity and timeliness of the technology and information covered by the services offered by this Website. Whether to log in this Website or use the services provided by this Website is your personal decision and therefore you shall bear all the risks and possible losses arising from such decision. We do not make any explicit or implicit warranties in connection with the market, value and price of Virtual assets; you understand and acknowledge that the Virtual asset market is unstable, that the price and value of assets may fluctuate or collapse at any time, and that the transaction of Virtual assets is based on your personal free will and decision and therefore you shall assume any and all risks and losses that may possible arise therefrom.
Upon the registration of your account with this Website, it shall be deemed that you approve any and all operations performed by us in accordance with the rules set forth in this Agreement, and any and all risks arising from such operations shall be assumed by you.
Taxation
The User undertakes to pay all of his/her taxes and duties resulting from the use of Platform Services, and should be paid. The Company Elevate Eco s.r.o. is not responsible for any violation made by the User due to his/her obligation to calculate and pay taxes and duties.
User Support and Complaints
We take complaints seriously. Should you wish to make a formal complaint about us, about the Platform or about the Services we provide, please contact our Support Team at [email protected]
If you want to contact us via post, please send Your request to the following address:
Cimburkova 916/8, Žižkov (Praha 3), 130 00 Praha
Governing Law and Dispute Resolution
The Agreement are governed by and construed in accordance with the laws of the Czech Republic, unless otherwise expressly provided herein. All disputes and controversies arising out of or in connection with the Platform and/or the Services shall be submitted to the courts of the Czech Republic.
Miscellaneous
These Terms set forth the complete understanding of the parties with respect to the subject matter hereof and supersedes all prior understandings and communications relating thereto. No term or condition of any other document provided to us which is different from, inconsistent with, or in addition to these Terms and conditions set forth herein will be binding upon the Parties. You represent and warrant that all information disclosed to us in connection with these Terms is true, accurate, and complete.
If any provision of these Terms is deemed to be unlawful, invalid or unenforceable for any reason, such provision shall be deemed to be divisible and shall not affect the legal effect of any other provision.