Policies

1. Terms Of Use 2. Privacy policy 3. AML/KYC Policy 4. Public Offer 5. Cookies Policy 6. Dispute Resolution 7. Risk Disclosure

Effective Date: 05.12.2024

WEBSITE USAGE TERMS

These terms explain how you can use the services offered by Cvetpay UAB on the website [https://cvetpay.com/] (called the 'Website'). By using the Website, you agree to these terms. If you do not agree, please stop using the Website immediately. Cvetpay UAB is a company based in Lithuania, registry code 306920599, with an office at Vilnius, A. Goštauto g. 8-224, LT-01108.

DEFINITIONS

- Cryptocurrency: A digital or virtual asset that uses cryptography for security and operates independently of a central bank. - Wallet: A digital application or device that stores cryptocurrency private and public keys, enabling cryptocurrency transactions. - Transaction: Any action that transfers cryptocurrency from one wallet to another or exchanges cryptocurrency for fiat currency. - User Account: The account created using your mobile number to interact with the Website's services. - Service Fee/Commission: Charges applied for using our services, detailed in Section 5.

ELIGIBILITY TO USE THE SERVICES

You must be at least 18 years old to use the Website and Services. Our services are not available in prohibited countries. Access may be restricted based on your IP address. By using the Website, you confirm that you are legally permitted to enter into contracts in your jurisdiction.

TRANSACTIONS

- Minimum and Maximum Amounts: Transactions are subject to a maximum limit of 9,681.70 USD per transaction. No minimum limit applies. - Irreversibility: Cryptocurrency transactions cannot be reversed once completed due to the nature of blockchain technology. - Delivery Timeframes: We aim to process cryptocurrency transactions within 20 minutes of confirmation, depending on network congestion.

REFUND POLICY

Refunds are only available for unsuccessful transactions due to technical errors or other issues on the Company’s end. Refunds will be processed at the current exchange rate at the time of request. Refund requests must include the transaction ID and be submitted through our support team.

USER RESPONSIBILITIES

Users are responsible for securing their wallet credentials and private keys. The Company is not liable for losses resulting from compromised wallets. Users must not share their credentials or act on behalf of others without authorization.

MODIFICATIONS TO TERMS

The Company may update these terms periodically. Changes will be announced on the Website with the update date at the top of the Terms. Users are encouraged to review the Terms regularly.

COPYRIGHT PROTECTION

Using the Website does not grant ownership of any intellectual property rights on the Website or its content. All materials on the Website are protected by copyright and trademark laws.

JURISDICTION

These terms are governed by Lithuanian law, and any disputes will be resolved in Lithuanian courts. If any part of these terms is found to be invalid, the remaining provisions will still apply.

CONTACT INFORMATION

For questions or concerns about these Terms, contact us at info@cvetpay.com.

Cryptocurrency Price Terms and Conditions

The price of cryptocurrencies is very volatile, which implies there is always a risk of loss of value for both customers and Bitpapaya when doing a transaction. In order to ensure fair conditions for both parties, we have a dynamic cryptocurrency estimates policy in place.

Transaction Amount Limits

To ensure compliance and fair trading, Bitpapaya enforces minimum and maximum transaction limits: - Minimum transaction amount: 5 USD - Maximum transaction amount: 9681.70 USD Transactions below or above these limits may not be processed, and users will be informed accordingly.

Service and Network Fees

Bitpapaya applies the following fees to each transaction: - Service fee: 4% of the transaction amount, applied to cover platform and operational costs. - Network fee: 2% of the transaction amount, applied to cover blockchain transaction costs. These fees are calculated based on the transaction amount and are deducted at the time of transaction processing. The final amount, including fees, will be displayed before you confirm your transaction.

BUY Transactions

In all BUY transactions, the cryptocurrency price—and hence the cryptocurrency amount to be sent to the customer—is fixed for 15 minutes. Once 15 minutes have passed from the moment of transaction initiation, the cryptocurrency price is updated once a minute for the transaction’s remaining duration. The cryptocurrency rate is fixed for 15 minutes to ensure most of our clients are receiving the exact amount of cryptocurrency indicated at the start of the transaction. Most payments are approved within 15 minutes. Therefore, most transactions will not be affected by this policy. However, due to reasons beyond our control, some payments require more time (for example, delays from banks or from our credit card processing provider). In order to ensure there are no losses for either of the parties due to a change in the price of a cryptocurrency, the amount of the cryptocurrency to be sent to the customer will be recalculated based on the market price at the very moment we get your payment confirmation.

SELL Transactions

In all SELL transactions, the cryptocurrency price—and hence the fiat amount to be sent to the customer—is fixed for 15 minutes. Once 15 minutes have passed from the moment of transaction initiation, the cryptocurrency price is updated once a minute for the transaction’s remaining duration. The cryptocurrency rate in SELL transactions is fixed for 15 minutes because usually it takes no longer than 10 minutes for a cryptocurrency transaction to be confirmed on the cryptocurrency’s blockchain. Cryptocurrency transaction confirmation time depends on several factors, but the main factor is the transaction fee paid by the sender. Therefore, customers need to make sure they pay the fee as this will ensure quick confirmation of their transaction.

Price Calculation Method

The initial 'fixed' price of cryptocurrency, as well as its 'dynamic' price, is calculated based on the average cryptocurrency price across several major Crypto-Fiat exchanges (i.e., Kraken, Bitstamp, Bitfinex, etc). This approach provides a fair and accurate estimation for all transactions conducted on the Bitpapaya platform.