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Terms of service

WYZEBEE – Terms of Service

IMPORTANT INFORMATION

Prior to obtaining access to the WYZEBEE service through our website https://wyzebee.com (“Website”), please read the following information carefully and ensure that you understand each provision.

By accessing our Website and using the Services provided by Blocksquare Ltd, you acknowledge that you have read and considered, and you understand and unconditionally agree to be bound by these Terms. Blocksquare Ltd may, at any time, without notice, amend the Terms. You agree to continue to be bound by any such amended Terms and that Blocksquare Ltd has no obligation to notify you of such amendments. You acknowledge that it is your responsibility to check these Terms periodically for changes and that your continued use of Services offered by Blocksquare Ltd following the posting of any changes to the Terms indicates your acceptance of any such changes.

WYZEBEE is operated by Blocksquare Ltd (a private company incorporated in Slovenia), with its registered office in Ljubljana, Cankarjevo nabrežje 1, 1000 Ljubljana, registered in the Companies Register under the registration number 8141622000 (Blockquare Ltd).

Blocksquare Ltd is not a financial institution and is currently not under supervision of any financial supervisory authority.

WYZEBEE is a service for retail clients, which are willing to invest in crypto assets, in a way to exchange their fiat funds to crypto assets, using our Service. Service is only available through the Website and to eligible users.

These terms of services, together with any other documents expressly incorporated herein constitute the entire agreement between the parties (together, the “Terms”). It is your responsibility, to read and understand other relevant legal documents, published on our Website, which are further stipulating our business and legal relationship. Among others these documents are:

Please also review Private Policy for information about how we collect, use and share information collected from you.

In the event of any inconsistency between these terms of Services and any of the other documents, the provisions of these terms of services shall prevail to the extent of such inconsistency. All other information provided on our Website or oral/written statements made are excluded from these Terms and do not constitute a legal agreement between the parties. Use of our Services is governed by these Terms.

We reserve the right to suspend, add, end, amend and/or supplement these Terms from time to time as deemed appropriate. The version posted on the Website is the effective version, and that which you should use as reference. It is your responsibility to inform yourself regarding the Terms, as well as being familiarized with the modifications that affect or will affect you.

ELIGIBLE USERS

By accessing the WYZEBEE platform, using the Services or registering as a Member, you represent, warrant and undertake that:



  a) you have accepted the Terms;

  b) you are at least 18 years of age and have the capacity to accept the Terms;

  c) you are the legal owner (or an appropriately authorised representative of the legal owner) of the funds you use in connection to our services and that the same funds derive from a legitimate source;

  d) your use of the Services does not constitute a breach of Applicable Law;

  e) you are aware of the risks in using the Services provided by WYZEBEE and have the necessary experience and knowledge to understand the risks involved in relation to each Service provided by WYZEBEE. These risks include the high volatility risk of crypto assets (Bitcoin included) itself, and that you may lose all of the funds in your account if the market moves against you. See Appendix 1 for risk disclosure.

  f) you are not allowed to access or use the Services if you are located in, incorporated or otherwise established in, or a citizen or resident of any Restricted Jurisdiction (see https://www.gov.si/drzavni-organi/organi-v-sestavi/urad-za-preprecevanje-pranja-denarja/o-uradu-za-preprecevanje-pranja-denarja/sektor-za-sumljive-transakcije/), and that WYZEBEE reserves the right to ceases providing services to you immediately and liquidate any open positions if you are accessing the Services from any Restricted Jurisdiction or have given false representations as to your location, place of incorporation or establishment, citizenship or place of residence;

  g) you have not been previously suspended or removed from using our Services.

SERVICE

WHAT WYZEBEE PROVIDES (SERVICE):

We provide fiat to crypto exchange service with your funds.

You deposit funds in monthly amounts to our business account and authorize us to execute an exchange transaction from fiat to crypto assets. By depositing funds to our account you grant as a mandate (authorization) to conduct an exchange transaction on your behalf.

Each day of the month we will exchange a proportionate share of your deposited fiat funds. For example, if you will deposit 100,00 EUR, we will divide this number by 30 and each day 3,33 EUR will be converted to crypto assets.

We will always strive to conduct the transaction at best execution principle.

Once your fiat funds are exchanged to crypto assets, we will deposit crypto assets to your crypto wallet. If you don’t have one already, find instructions how to get it on the following link https://wyzebee.com/#mobile.

Having your own crypto wallet is a precondition to use our Service.

WHAT WYZEBEE IS NOT / DOES NOT PROVIDE:

WYZEBEE does not provide any licensed or regulated financial services, such as investment services, fund management or investment advice.

WYZEBEE is not acting as a User’s broker, intermediary, agent or advisory in any fiduciary capacity.

WYZEBEE is not a provider of (a) wallet or custodial services of credentials necessary to access crypto assets or (b) crypto assets mining services.

None of the information or analyses presented herein are intended to form the basis for any investment decision, no specific recommendations are intended, and WYZEBEE Services and Website do not offer, are not and shall not be construed as investment or financial products.

However, we may provide information on the price, range and volatility of crypto assets in general or of crypto assets that are available through our Services and events that have affected the price of such crypto assets, but this must not be considered investment advice nor should it be construed as such. Any decision to purchase or sell crypto assets is solely your decision and we shall not be liable for any loss suffered.

REGISTRATION

Through our Website you will be requested to provide the following information:

  - selected subscription plan;

  - your email address;

  - your crypto wallet address.

If so requested by the regulatory bodies or by the regulation, we may require additional information from you. We hold the discretion that in case additional information is not provided to us within the reasonable time, we may cease providing Service for you.

IMPORTANT NOTICE: it is solely your responsibility to provide us with the right address for your crypto wallet. In case you provide us with the wrong address, WYZEBEE’s liability for any losses is fully excluded. Our liability is also fully excluded in case the integrity of your crypto account is damaged (e.g. unauthorized access). Due to safety measures it is not possible to change cypto wallet later. In that case you must create a new subscription.

Each user is linked to provide e-mail. Each subscription has its own ID number, which is also used as a reference for the payment instructions. Each ID number is linked to the provided crypto wallet.

It is allowed that one single user has multi subscriptions, each linked to a specific (or the same) crypto wallet.

BEGIN USING OUR SERVICES

WYZEBEE shall send an email to the User's designated email address on the 15^th of each month, with instructions to deposit exchange funds for the following month. The deposit should be completed by no later than the 25^th of the month, whereby the User acknowledges SEPA payments may take from 1-5 days to complete. The User shall always review the corresponding reference number notwithstanding whether it was entered by using a QR code or manually.

The User shall have no obligation to deposit any amount. In the absence of deposits for the following month, it shall be deemed that the User did not grant an authorisation for the month missing the payment and neither of the parties shall thus have any liabilities. The User may therefore revoke the authorisation by remaining inactive.

The authorisation shall be re-granted when the User makes a subsequent deposit of an amount of his/her choice to WYZEBEE at any time, which is intended to be exchanged to crypto assets.

IMPORTANT: When an order for the exchange to crypto assets is submitted and WYZEBEE receives exchange funds to its account, the User shall no longer be able to request his/her deposit in fiat funds. The User may complete the reverse exchange to desired fiat funds himself/herself, namely after the 5th day of the following month, when he/she receives an amount of the crypto asset to his/her crypto wallet that he/she exchanged under the procedure that he/she authorise WYZEBEE to perform. WYZEBEE DOES NOT PROVIDE AN EXCHANGE OF CRYPTO ASSETS TO FIAT FUNDS. USER MAY DO SO BY USING THE SERVICES OF RELEVANT EXCHANGES BUREAUS!

OUR BACK-OFFICE PROCESS

In its AWS base, WYZEBEE records all deposits for an individual User received to the WYZEBEE account up to and including the 25th of each month.

WYZEBEE shall transfer all of the received deposits to the corporate account registered with its partner crypto exchanges.

WYZEBEE shall set buy orders for all days within a month (28/29/30/31) – e.g.: (1) Where a month has 30 days, and WYZEBEE received a total of EUR 3,000.00 from all Users, WYZEBEE shall set the order of EUR 100.00 / day for crypto asset purchase; (2) individual User deposits EUR 50.00 for exchange, WYZEBEE distributes the deposit to the days of the month; with a 30-day month, WYZEBEE thus exchanges EUR 1.6667 each day for the relevant User (EUR 50 : 30 days); At the end of the current month, i.e. on the first of the following month, WYZEBEE transfers the purchased Bitcoin (or any other exchanged crypto asset) to the WYZEBEE wallet.

WYZEBEE enters the total amount of Bitcoins (or any other crypto asset) to the database and thus calculates the amount of Bitcoins (or any other crypto asset) to be transferred to each individual User (distribution is proportional to the individual exchange deposit of a User).

WYZEBEE shall complete the payments by each 5th of the month for the previous month, namely to the crypto wallet of an individual User. After the transfer, each User is free to dispose with the obtained crypto asset.

YOUR WARRANTIES AND REPRESENTATIONS

You represent, warrant and undertake that:

  a) you are authorised to access and use the Services. In particular, each jurisdiction where you are located in, incorporated or otherwise established in, or of which you are a citizen or resident, allows you to utilise the Services;

  b) if you are using our Services on behalf of or for the benefit of any person or organisation, you must be authorised to do so. The relevant person or organisation will be liable for your actions, including any breach of these Terms; and

  c) your use of our Services is at your own risk. You agree that WYZEBEE/BLOCKSQUARE is not liable for any damage or harm arising out of your use of our Services.

You acknowledge and agree that:

  d) information provided on the Website is for general information purposes only and is given in good faith. However, the information is selective and WYZEBEE/BLOCKSQUARE may not verify all information, which may not be complete or accurate for your purposes and should not be relied upon without further enquiry. The information and Services should not be construed as an offer or a recommendation to make a prediction on the future value of crypto assets in real-time on or engage the Services provided by WYZEBEE/BLOCKSQUARE in a particular manner and the information does not take into account the investment objectives or financial situation of any particular person; and

  e) WYZEBEE/BLOCKSQUARE does not warrant that the use of the our Services and our Website will be uninterrupted or error-free. Amongst other things, the operation and availability of the systems used for accessing the Website and for conducting our Services, including public telephone services, computer networks and the internet, can be unpredictable and may from time to time interfere with or prevent access to our Website. WYZEBEE/BLOCKSQUARE is not in any way responsible for any such interference that prevents your access or use of the Services.

You warrant and represent that you are acquiring the right to access our Website and use our Services and agreeing to these Terms for the purposes of a business and that, to the maximum extent permitted by law, any statutory consumer guarantees or legislation intended to protect non-business consumers in any jurisdiction does not apply to the supply of the our Services or these Terms.

You acknowledge, agree and understand that none of the Services amount to investment advice or any marketing, or promotion or offer of any product or investment to you or any third party. You are solely responsible for any losses, damages or costs resulting from your reliance on any data or information that the WYZEBEE may provide in connection with your use of the Services. You will make your own independent decision to access or use the Services.

To the maximum extent permitted under Applicable Law, the Services and any product, service or other item provided by or on behalf of WYZEBEE are provided on an “as is” and “as available” basis and WYZEBEE expressly disclaims, and you waive, any and all other warranties of any kind, whether express or implied, including implied warranties of merchantability, fitness for a particular purpose, title or non-infringement or warranties arising from course of performance, course of dealing or usage in trade. Without limiting the foregoing, WYZEBEE does not represent or warrant that the Services are accurate, complete, reliable, current or error-free, or free of viruses or other harmful components.

OUR WARRANTIES

WYZEBEE undertakes to use its best efforts to ensure an uninterrupted operation of the application, however, it has no power over power / internet connection outages, which derive from operator disruptions.

WYZEBEE undertakes to use all assets (excluding the user fee referred to in the previous chapter (III.), received in a timely manner from each individual user, exclusively for completing the exchange by following the procedure referred to in Item 2 of Chapter I hereof.

WYZEBEE undertakes to transfer the amount/share of the crypto asset, corresponding to the exchanged amount, to the User’s crypto wallet by no later than the 5th of the month. The said transfer shall be completed by WYZEBEE as a proxy, following a special procedure.
At the request of the User WYZEBEE shall submit a history of all purchases and/or completed exchanges for individual user within 30 days. User shall file the request for the historic excerpt electronically in writing, whereby WYZEBEE reserves the right to identify the User.

User undertakes to submit true and correct data to WYZEBEE, namely those required by WYZEBEE to execute the exchange that the User authorised WYZEBEE for;
User undertakes to pay a User fee with each deposit, namely simultaneously with the exchange deposit.

OUR LIABILITIES

WYZEBEE shall be liable for transferring the User’s assets to the platform, which enables exchange from fiat funds to crypto assets, whereas the User shall be liable for transferring the funds to the correct WYZEBEE account by using the correct reference number.

WYZEBEE shall be liable for transferring the proportional share of the crypto assets to the User’s crypto wallet, whereby the User shall be liable for providing the correct address of his/her crypto wallet in the application.

The services offered by WYZEBEE are of digital nature, which is why risks, related to digital companies, also apply to WYZEBEE and its users, i.e. WYZEBEE may be exposed to cyber-attacks which are beyond its control.

WYZEBEE is not directly tied to cryptocurrencies, tokens or other digital assets and can not influence the price or characteristics thereof nor potential losses of assets by Users. Trading in digital assets or the exchange thereof may include risks. Each User shall be liable to undertake his/her own “due diligence” when deciding to use the WYZEBEE services!

WYZEBEE assumes no liability for any tax related liabilities incurred by the User in connection with the asset transfer; the User shall be solely liable for settling the above.

The User shall bear exclusive liability for his/her user account. WYZEBEE waives any and all liability in case of a breach of the User’s account.

LIMITATION OF LIABILITY

Nothing in these Terms shall exclude or restrict WYZEBEE or any of the Associated Parties’ liability for:

  a) fraud; or

  b) any other matter that cannot be excluded or limited under Applicable Law.

Subject to the foregoing, to the maximum extent permitted by Applicable Law:

  a) in no event shall WYZEBEE or any of the Associated Parties be liable for any:

  i) indirect or consequential loss; or

  ii) loss of profit, business opportunity, revenue or goodwill, in each case, whether arising from breach of contract, tort (including negligence), breach of statutory duty or otherwise, arising out of or in connection with authorised or unauthorised use of the Services or these Terms, even if an authorised representative of < COMPANY NAME > or any of the Associated Parties has been advised of, knew of or should have known of the possibility of such damages; and

  b) WYZEBEE and the Associated Parties’ aggregate liability in contract, tort or otherwise (including any liability for any negligent act or omission) howsoever arising out of or in connection with the performance of its obligations under these Terms in respect of any one or more incidents or occurrences shall be limited to the total net amount of fiat funds received by WYZEBEE from you by way of fees in connection with your use of our Services in the six-month period immediately prior to the date of the incident, or the first incident of a series of connected incidents, giving rise to a claim made by you under these Terms.

WYZEBEE DOES ALSO NOT WARRANT THAT THE SERVICE WILL BE ERROR-FREE OR UNINTERRUPTED; THAT DEFECTS WILL BE CORRECTED IN REASONABLE TIME. YOU ACKNOWLEDGE THAT YOUR USE OF THE SERVICE IS AT YOUR SOLE RISK. BY ACCESSING OR USING THE SERVICE YOU REPRESENT AND WARRANT THAT YOUR ACTIVITIES ARE LAWFUL IN EVERY JURISDICTION WHERE YOU ACCESS OR USE THE SERVICE.

SUBJECT TO THE FOREGOING, WYZEBEE'S AGGREGATE LIABILITY FOR CLAIMS BASED ON EVENTS ARISING OUT OF OR IN CONNECTION WITH ANY SINGLE CLIENT'S USE OF THE SERVICES AND/OR SERVICE, WHETHER IN CONTRACT OR TORT (INCLUDING NEGLIGENCE) OR OTHERWISE, SHALL IN NO CIRCUMSTANCES EXCEED THE TOTAL AMOUNT DEPOSITED BY THE CLIENT TO WYZEBEE.

EACH PARTY ACKNOWLEDGES THAT THE FEES PAYABLE FOR THE SERVICES HEREUNDER REFLECT THE ALLOCATION OF RISK SET FORTH IN THE LEGAL RELATIONSHIP AND THAT EACH PARTY WOULD NOT ENTER INTO THE BUSINESS RELATIONSHIP WITHOUT THESE LIMITATIONS ON LIABILITY.

INDEMNITY

To the full extent permitted by applicable law, you hereby agree to indemnify WYZEBEE and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of our services or website, or from your violation of these Terms.

SUSPENSION OF SERVICES, DISCONTINUATION OF SERVICES

We may, in our discretion and without liability to you, with or without prior notice, suspend or terminate your access to all or to some Services, in the event of Force Majeure, in case of breach of this Terms or in any other case, if WYZEBEE would decide so based on any kind of business reasons.

Some of the events which can cause suspension or termination are: 1) attempts to gain unauthorized access to the Website or providing assistance to others' attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms, (5) a failure to pay or a fraudulent payment for transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies.

WYZEBEE may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services.

FEE STRUCTURE

You agree to pay WYZEBEE/WYZEBEE the fees for the provided Services ("Fees") as made available at wyzebee.com/#plans (“Fee Schedule”).

Certain transaction fees may be charged by other service providers, including your account servicing payment services provider. Different sellers might have defined different fees.

Fees concerning particular trade cannot be changed after the offer has already been claimed; however, WYZEBEE retains the right to change rules regarding fees in the future.

Fees may change from time to time. Changes to the Fee Schedule are effective as of the effective date indicated in the posting of the revised Fee Schedule to the Services, and will apply prospectively to any trades that take place following the effective date of such revised Fee Schedule.


You agree that Fees are deducted from your Funds held on the Account.

INTELLECTUAL PROPERTY RIGHTS

WYZEBEE reserves all rights, titles and interest to the Services, Website and WYZEBEE Intellectual Property, whether registered or not, except of the copyright of third parties’ technologies. For the purposes of this Terms, “Intellectual Property Rights” means all patent rights, trade names, proprietary rights, copyright rights, titles, computer codes, audiovisual effects, themes, characters, character names, stories, dialog, settings, artwork, sound effects, musical works, mask work rights, moral rights, rights of publicity, trademark, trade dress and service mark rights, goodwill, trade secret rights and other intellectual property rights as may now exist or hereafter come into existence, under the laws of any state, country, territory or other jurisdiction.

Except as expressly provided in these Terms, nothing contained herein shall be construed as conferring any license or right to You, by implication, estoppel or otherwise, under copyright or other intellectual property rights. You agree that the Services, Website and WYZEBEE Intellectual Property may be used only as provided in these Terms.

THIRD PARTY WEBSITE

Our Services may include links to third party websites ("Third Party Sites"). If you use any links made available through our Services to reach other websites not maintained by WYZEBEE you will leave our Services and Website. The linked sites are not under the control of WYZEBEE and WYZEBEE is not responsible for the content of any linked site or any link contained in a linked site. The linked sites are governed by the terms and conditions of that site.

WYZEBEE shall not be responsible or liable, either directly or indirectly, for any damage or loss caused or alleged to be caused in connection with your use or reliance on any such content, information, statements, representations, advertising, products, services or other materials available on or through Third Party Sites. WYZEBEE provides these links to you only as a convenience and the inclusion of any link does not imply recommendation, approval or endorsement by WYZEBEE of the linked website, nor does it imply that the linked website recommends, approves of, or endorses WYZEBEE.

ENTIRE AGREEMENT

These Terms together with Privacy contain the entire Agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services. These Terms do not alter the terms or conditions of any other electronic or written agreement you may have with WYZEBEE for the Services. In the event of any conflict between these Terms and any other agreement you may have with WYZEBEE, the terms of that other agreement will control only if these Terms are specifically identified and declared to be overridden by such other agreement.

COMPLAINTS AND CUSTOMER SUPPORT

You may address your complaints by contacting our support by sending an email to subscriptions@wyzebee.com. We will do our utmost to resolve a reported complaint at its earliest. While we will strive to do its best to provide the clients with any information he requires in an accurate manner, any information given shall be subject to these Terms and/or any other terms, conditions or rules directly contained in email format.

TAXES

You are solely responsible and liable to declare, bear and pay all taxes, duties, imposts, levies, tariffs and surcharges that might be imposed by the laws and regulations of any jurisdiction as a result of or in connection with using our Services.

WYZEBEE is not giving any advice regarding tax issues and is not responsible for determining any tax implications connected with its Website or Services. WYZEBEE makes no representation as to the tax implication of any jurisdiction. You shall be solely liable for all such penalties, claims, fines, punishments, liabilities or otherwise arising from his/her underpayment, undue payment or belated payment of any applicable tax.

If certain taxes shall be applicable for our Services, they shall be added on top of the applicable amount. Upon our request, you will provide us any information we reasonably request to determine whether we are obligated to collect VAT (or any other applicable tax) from you, including your VAT identification number. If any deduction or withholding is required by law, you will notify us and will pay us any additional amounts necessary to ensure that the net amount that we receive, after any deduction and withholding, equals the amount we would have received if no deduction or withholding had been required. Additionally, you will provide us with documentation showing that the withheld and deducted amounts have been paid to the relevant taxing authority.

FINAL PROVISIONS

Force Majeure

We shall not be liable for any failure to perform its obligations hereunder where such failure results from any cause beyond Our reasonable control, including, without limitation, mechanical, electronic or communications failure or degradation.

Severability

If any provision of the Terms is found to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that the Terms shall otherwise remain in full force and effect and enforceable.

Assignment

We may transfer, assign or delegate the Terms and its rights and obligations without consent. You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from WYZEBEE.

Privacy Policy

Please refer to our Privacy Policy, which forms part of these terms.

Term and Termination

The Term of this Terms shall commence on the date You start using this Services/Website and shall end on a date You stop using the Services/Website or upon our termination of these Terms.

Governing Law

The Terms shall be governed by and construed in accordance with the laws of the Republic of Slovenia, and the parties submit to the exclusive jurisdiction of the competent court of Ljubljana, Slovenia.

Appendix 1: Risk disclosure


When exchanging their fiat funds in crypto assets, users are exposed to several forms of risks. If risks materialize, this affects users in different ways. Please read a short description of risks below and confirm that you are aware of these risks and that you accept them.



Trading risk:

prices of crypto assets may fluctuate. You may suffer loss in value of your portfolio. Loss can be limited or total.



Uninsured losses:

Crypto assets are not issued by a central bank or any other regulated financial institution. In case of loss, there is no scheme that would protect the users of our services in case such losses occur.



Internet risk:

Failure of hardware, software and internet connections are possible. Such failures may cause problems when using our services.



Cryptography risk:

New technologies for cryptography (e.g. quantum computers) may present risk for existing protection measures of our services.


Regulatory risk:

Crypto assets could be impacted by one or more regulatory inquiries or actions, including but not limited to restrictions on the tradability or possession of crypto assets.



Legal risk:

In some jurisdictions crypto assets might be considered to be a security (i.e. regulated financial instrument). In case this happens, Services can be limited or terminated for some users.

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