BitBucks App general terms of use

 

1. Application
   These General Terms of Use (hereinafter: Terms of Use) apply to the use of the services provided by Frank und Freunde GmbH, HIrschstraße 14, 70173 Stuttgart, on the BitBucks application software (app). By downloading the app you agree to these terms of use. In addition to these Terms of Use, other terms of use or general terms and conditions of third parties may apply if services are used in connection with the BitBucks app. In particular third parties, such as in crypto custody.

 

2. Definitions
    
   1. Frank und Freunde, GmbH, Hirschstraße 14, 70173 Stuttgart, (hereinafter: “the operator”) is the developer and operator of the BitBucks application software.
       
   2. “BitBucks” is an application software that is provided by Frank und Freunde GmbH and can be downloaded by Internet users (hereinafter also: “the app”, “the Bitbucks app”).
       
   3. The general terms and conditions of use are complemented for all users by the list of services and fees. The Special Terms of Use apply to the use of the app by commercial users. These documents can be consulted in their current version on the BitBucks homepage and in the app.
       
   4. A “User” is a person who has downloaded the BitBucks app or on whose devices, such as smartphones, tablet computers, notebooks, desktops or likewise, the app is stored and can be used by the respective users of these devices.
       
   5. The “commercial user” uses the BitBuck app for payment transactions that are related to the execution of a business he or she runs.
       
   6. “Provided services” are all functionalities included in the BitBucks app application that are accessed by the app user.
       
   7. The “crypto assets” are Bitcoins or other digitally represented assets or rights.
       
   8. The “crypto custodian” is a company, which is authorized to keep the crypto assets transferred by users of the app in Germany.
       
   9. The “custody agreement” is an agreement which the app user concludes with the crypto custodian regarding the custody of the crypto assets to be deposited in the BitBucks app.
       
   10. The “identifier” is a service provider who executes the identification process of those who transfer crypto assets to the custodian via the BitBucks app or receive crypto assets from the custodian via the BitBucks app. This is required due to the German Money Laundering Act.
        

 

3. General
   
   BitBucks represents an application with which crypto assets can be transferred to a crypto custodian who has an according banking supervisory license. The crypto assets held in custody can also be transferred back in case of a termination of the custody. To the extent that the crypto custodian offers the technical option, users of the BitBucks app can transfer crypto assets held for them to other users of the BitBucks app. The custody is free of charge for the user. The user may incur transaction fees for transfers between wallets

 

4. Contractual relations
   
   The user closes a user agreement with Frank und Freunde GmbH regarding the use of the BitBucks app. If the user has given its consent to the terms of use as required in the app's user interface, Frank und Freunde GmbH receives an offer to conclude the users contract. To the extent that Frank und Freunde GmbH is informed about the successful, legally required identification, the subsequent activation of the app's functionalities represents an acceptance of the contract offer made by the user.
   
   However, the use of the deposit and withdrawal functions is expressly subject to the proviso that the user has also concluded the separate contract with the crypto custodian with whom Frank und Freunde GmbH cooperates for the Custody of the crypto assets. The conclusion of this custody agreement and all rights and obligations for the contractual partners resulting from this contract are regulated exclusively by the custodian. The custodian's general terms and conditions apply to these contractual relationships. Changes to these terms and conditions have no effect on the user's legal relationship with the operator of the BitBucks app. Any claims arising from the custody agreement, in particular claims for Claims for compensation damages and all other tortious or contractual claims, must be asserted against the custodian. Frank und Freunde GmbH assumes no liability for negligent or intentional misconduct by the crypto custodian's employees or for breaches of contract by the custodian, in particular not for the loss or partial loss of the deposited crypto assets due to theft or technical inadequacies.
   
   Frank und Freunde GmbH can change the custodian. The user is informed about this. If the user does not agree to the change, the user is responsible for transferring his stored crypto assets to another wallet at his own expense.
    
5. Clientele
   
   The BitBucks app and the associated custody of crypto assets can only be used by natural persons who have reached the age of eighteen and have their permanent domicile and residence within the EU or Switzerland.
   
   Each user can only download the app under one identity. The use of different BitBucks apps on different devices with different internet addresses or telephone numbers is not permitted.
   
   Commercial use of the app is possible. The special terms and conditions apply to commercial users.
   
   The offer is addressed exclusively to people who are well informed about the risks of cryptocurrencies, have a high willingness to take risks and have the financial means to be able to bear losses from these cryptocurrencies. For the risks, see section 10 Risk and disclaimer below. The user is responsible for consulting the appropriate risk information if desired
    
6. Video identification
   
   The custodian of the crypto assets is obliged to comply with the requirements of the Money Laundering Act. To account for that all users have their personal data verified using the so-called video identification process. Without this verification, a user cannot use the services offered by the operator. Without this verification, a user cannot use the services offered by the operator. If for whatever reason, a video identification process is not successful, Frank and Friends GmbH assumes no liability.
    
7. Cooperation obligations of app users
   
   The user is obliged to completely and truthfully provide the requested personal data to the operator, the identifier and the custodian.  The user must immediately inform the operator of any changes to personal data.
   
   The user is obliged to keep the operating system of the device on which the BitBucks app is running on up to date. To do this, he must immediately download and install the relevant software updates onto his device. Users are also obliged to use the latest version of BitBucks, which is available in the app or play store. The user also ensures an adequate protection against malware on their device. If the user damages the operator's applications and/or data processing systems and/or those of other users as a result of failing to update the operating system or using out-of-date software versions, the user is acting with gross negligence and is liable for the resulting damage.
   
   To initiate deposits or withdrawals and to transfer crypto assets to other users, the user must ensure that the device used is connected to the Internet. Without connectivity, no transactions can be initiated.
   
   The customer is obliged to immediately report any objections of any kind, in particular objections relating to the balance shown in the app, to the operator.
   
   If the customer fails to comply with this obligation to cooperate, this can lead to the loss of claims, especially if third parties have already claimed a shortfall. In cases where an incorrect balance is shown on the app due to technical inadequacies, the operator reserves the right to unilaterally correct the user's incorrect balance. The user will be informed of this immediately.
   
   The customer is not entitled to use the app for purposes other than its intended purpose. Especially inappropriate cases are activities on the app related to illegal gambling, illegal prostitution, drug trafficking or other crimes as well as money laundering or terrorist financing within the meaning of the Money Laundering Act.
    

 

8. Initiating and receiving of a transmission
   
   When receiving Bitcoin, the recipient is obliged to ensure that he is the legal recipient and that the transfer of the amount of Bitcoin is not without legal grounds. If the recipient realizes or had realized that he or she received the Bitcoins without legal grounds and/or accidentally, he or she must immediately initiate a transfer back to the person who originally initiated the transfer. He also informs the operator via the contact form or the website about the unjustified receipt and repayment of the credit received.
    

 

9. Termination of the contractual relationship between the user and the operator
   
   By deleting the app, the user's contractual relationship with the operator will be terminated. The customer can delete the app at any time. The independently concluded custody agreement with the custodian remains unaffected.
   
   The operator can terminate the customer’s contract and discontinue the functions of the app at any time without giving reasons. The customer receives a corresponding message. The customer must withdraw existing crypto assets themselves.
   
    
10. Risks and disclaimer of liability
    
    Cryptocurrencies are subject to high fluctuations in value, which can even lead to a total loss. Therewith the danger exists that the equivalent value in any legal currency of Bitcoin balance in the Bitbucks app, will fall drastically or even disappear completely. The exchange of legal currencies, such as Euros and US dollars in particular, for cryptocurrencies is often carried out by companies with little or no government supervision. By this, BitBucks users run the risk that their Bitcoin balance can either be exchanged back into a legal currency at an insufficient exchange rate or not at all. Technical inadequacies in the technology used by cryptocurrencies cannot be completely ruled out. Even the continued existence of the currency, including the possibility of exchange into legal or other generally accepted means of payment, cannot ultimately be reliably predicted. The user of BitBucks bears these risks. BitBucks assumes no liability for losses arising from the aforementioned risks.
    
    BitBucks assumes no liability for any actions or contractual relationships underlying the transfers. In particular, the legality and compliance of the obligations arising from the transfer of Bitcoin are not checked. Defences and objections arising from the contractual relationships on which the Bitcoin transfers are based cannot be asserted against BitBucks. BitBucks also does not check whether there have been breaches of contract or tortious acts on the part of the transferor or the recipient. BitBucks also does not check whether there have been breaches of contract or tortious acts on the part of the transferor or the recipient. 
    
    The operator is not liable for damage caused by force majeure, war or natural events. In addition, Bitbucks is not liable for sovereign actions that result in damage to the user.

 

11. Reversal of misdirected transmissions and input errors
    
    In electronic payment transactions and the transfer of crypto assets, there is a fundamental risk that, due to incorrect entry, the transfer will either be sent to the wrong recipient or the payment or transfer amount will be entered incorrectly. The regulations made by the custodian are decisive for the handling of these cases. If there are no regulations in this regard, the operator and the customer agree that the triggered transfers are irrevocable as soon as the initiator has finally initiated them in the app. Cancellation and reversal will only take place if the recipient agrees. The loss resulting from a misdirected transfer is generally borne by the initiator.
    
    BitBucks assumes no liability for dysfunctional internet or mobile phone connections. If technical difficulties arise, such as limited or non-existent availability of these connections at the initiator and the recipient, and if this results in damage to the transmitter or the recipient, the BitBucks operator assumes no liability.
    
    For the custody, management or encryption of the customer funds or keys in the wallet of the custodian or in the processes of the BitBucks app, the necessary care and all necessary security measures are taken to prevent data theft, sabotage, misuse, technical failure or similar. However, if the information required to dispose of the Bitcoin balance in the wallet is lost, the operator only assumes liability for gross negligence. Liability for third-party negligence is excluded.
    
    The programming of cryptocurrencies can generally be changed subsequently, for example through forks. This means that the value and terms of trade can change drastically. The Handling approach, especially during an implementation of a fork, depends on the custodian's regulations. The operator is not liable for any loss in value of the user resulting from changes to the programming of the crypto assets.
    
     
12. Expenses for the use and custody of the app
    
    The fees to be paid to the operator are included in the currently valid version of the list of services and costs. Irrespective thereof, the user may incur costs for initiated withdrawals of crypto assets or transfers, which are not charged by the app operator. These costs depend on the circumstances of the respective transactions. The user will be informed about changes to the list of services and fees.
    
     
13. 13 Jurisdiction and agreed law
    
    The user recognizes Stuttgart as the place of jurisdiction for all legal disputes. The operator and the customer agree on the application of German law.