General terms and conditions

Last Updated: August 28, 2021

In case of discrepancies, the German version shall prevail.

DFX AG (company identification number: CHE-429.856.521), located at Bahnhofstrasse 7, 6300 Zug, Switzerland ('we', 'us' or 'our') operates the DFX.swiss website (the 'Service'). Access to and use of the website is subject to the important legal notices contained herein (the 'Terms and Conditions'). These Terms and Conditions are supplemented by any special agreements that apply in connection with services or products offered by DFX to which you or your representative (hereinafter 'you') are a party. However, in the event of a conflict, the terms of any such special agreement shall prevail.By accessing and using the Website, you acknowledge that you have read, understood and accepted the Terms and Conditions.In addition, you accept that DFX may change the Terms and Conditions at any time without prior notice. If you do not agree to the Terms and Conditions, do not access or use the Website in any way.

Local restrictions

By downloading information, data and documents from DFX's websites, you agree to be bound by the following terms and conditions. Cryptocurrency distribution services through distributors are additionally subject to the specific terms and conditions associated with such services.

Local restrictions

Provision of cross-border services: The products and services presented on this website are authorised for sale in Switzerland. They are not intended for persons who, by reason of their nationality, place of business, residence or otherwise, are subject to laws that prohibit foreign financial service providers from conducting business in those jurisdictions or that prohibit or restrict access to websites of foreign financial service providers by legal entities or individuals.If DFX does not have the approval of the regulatory authority of a particular country in this regard, DFX is generally not allowed to advertise its financial services in that country. This website may contain information, in particular about the financial services and products offered by DFX, which could be considered by the authorities of the aforementioned countries as a public offer of financial securities or as a financial acquisition addressed to persons residing in these countries. If you are a resident outside Switzerland, you confirm that you are visiting this website on your own initiative without having been requested to do so by DFX. You also confirm that it is your full and sole responsibility to find out whether any legislation applicable to you, such as the legislation of your country of residence, prohibits you from using the services offered on this website.

No consultation for the purchase of crypto currencies

The information provided on the Website shall in no way be construed as advice or recommendations to buy or sell any particular cryptocurrency or to effect any transaction, nor shall the information provided be construed as advice of any other kind, for example of a tax or legal nature.Any investment decisions you make are based solely on your own assessment of your financial situation and investment objectives. You are solely responsible for such decisions.Investments in cryptocurrencies presented on the Website are subject to certain risks. The price of cryptocurrencies may fall as well as rise. The future performance of cryptocurrencies cannot be guaranteed by past performance. It is therefore possible that you will not get back the amount invested. We strongly recommend that you seek professional advice before making any investment decisions.

Disclaimer

DFX, its directors, officers, employees, agents or shareholders shall not be liable for any loss or damage of any kind, whether direct or indirect, arising out of your access to, use of, or inability to access or use the information or services available on the Website. In particular, it is expressly stated that in no event shall DFX, its directors, officers, employees, agents or shareholders be liable for any loss or damage caused by technical or other errors, transmission failures, system overloads, usage problems, interruptions of services (including but not limited to system maintenance services), delays in the transmission of information, incompatibility between the Website and your files and/or your software (in particular your browser) and/or your computer, malfunctions, interference, the transmission of a virus to your computer, unauthorised access (e.g. by hacking or piracy) or any other cause whatsoever. You acknowledge and agree that DFX's services are provided on an 'as is' and 'as available' basis, without warranty of any kind, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement. You understand that DFX is not responsible for, nor has any responsibility for, the management of the blockchain associated with the relevant cryptocurrency. Bitcoin and other cryptocurrencies that you may access are not under the management or responsibility of DFX . DFX does not recommend Bitcoin or any other cryptocurrencies in any way. By using DFX's services, you acknowledge that Bitcoin, Ether, DFI or other cryptocurrencies are experimental alternative currencies currently under development and that their operation is unpredictable.Activating certain links on the Website may cause you to leave the DFX Brokerage Services Website. DFX does not review any of these linked websites and does not warrant or guarantee, expressly or impliedly, the quality, relevance, accuracy, completeness, availability, update status or legality of the content of such websites, nor is DFX responsible in any way for the products, services, information and other content offered through these linked websites. The same applies to websites that provide links to the DFX Brokerage Services website.In addition, prior written permission must always be obtained before creating a link from an external website to the DFX Brokerage Services website.

Links

Activation of certain links on the Website may cause you to leave the DFX Brokerage Services Website. DFX does not review any of these linked websites and does not warrant or guarantee, expressly or impliedly, the quality, relevance, accuracy, completeness, availability, update status or legality of the content of such websites, nor is DFX responsible in any way for the products, services, information and other content offered through these linked websites. The same applies to websites that provide links to the DFX Brokerage Services website. In addition, prior written permission must always be obtained before creating a link from an external website to the DFX Brokerage Services website.

Confidentiality and encryption

Please note that the data exchanged between you and DFX is transmitted via open, public networks (e.g. the Internet) which are not subject to any control or verification. The transmitted data may go beyond the borders of Switzerland, even if both you and DFX are located in Switzerland. Furthermore, even if the transmitted data is encrypted, it is not guaranteed that it will necessarily remain encrypted for the entire duration of the transmission, nor that it will remain encrypted on your end. It is possible that data may be intercepted. In addition, you hereby acknowledge that you understand that applicable laws in your country may prohibit or restrict the import, export or use of encryption algorithms. DFX is in no way responsible for any breach of measures regulating the import, export or use of encryption algorithms.In the event of such a breach, you will be solely responsible.Finally, please note that information transmitted electronically, e.g. by email or SMS, is generally unencrypted and may be intercepted.

Confidentiality of user data

You are required to keep User IDs, passwords and other means of identification such as blockchain addresses secret. To this end, you must not store your user IDs, passwords or other means of identification such as blockchain addresses unencrypted in your browser and you must delete all temporary files stored in your cache memory and your browsing history. You are solely responsible if such means of identification are disclosed to third parties, discovered or misused, and for any resulting loss or damage.You understand that you must disconnect from the identification services offered by DFX before leaving your internet station. To do so, you must close all your browser windows that are displaying the page.

Proper use of the website

You agree to use the Website in a reasonable manner and not to misuse or use the Website in any way that could, for example, overload the Website, delay the transmission of information, interrupt the service, block access to the Website or cause any other harmful effects to DFX or the users of the Website. In particular, it is prohibited to:place a purchase order whose value is lower than the minimum amount indicated on DFX's website.carry out email bombing or a denial of service attack (in particular flooding) or make a similar attempt.infect the website with a virus, worm, Trojan horse or other software or make a similar attempt.gain or attempt to gain unauthorised access to the servers that manage the website; bypass or disable the website's security features or attempt to do so. Use offline readers or similar software, including but not limited to, in such a way as to enable a bulk download of data from the Website to your hard drive.If you take any of these actions, DFX reserves the right to deny you access to the Website, even if you are a registered customer of the DFX Brokerage Service.

Registration and use of your activities

Please note that DFX may record and analyse all your actions on our websites, APIs, applications and other direct marketing campaigns for the purposes of security, system monitoring, administration, marketing and compliance with the legal and regulatory requirements to which DFX is subject. DFX will store this information under the appropriate security conditions for a limited period of time.DFX will not disclose your personal data to third parties, except in the following specific circumstances:In the course of fulfilling the legal and regulatory obligations to which DFX is subject under the Federal Anti-Money Laundering and Countering the Financing of Terrorism Act, its implementing regulations and by the regulation of the 'Association for the Quality Assurance of Financial Services' (VQF). Combating Money Laundering and Terrorist Financing (AML) in accordance with the Swiss Ordinance on Combating Money Laundering and Terrorist Financing (AMLO), the Ordinance of the Swiss Financial Market Supervisory Authority on Combating Money Laundering and Terrorist Financing in the Financial Sector (AMLO-FINMA) and the Ordinance of the Association for Quality Assurance of Financial Services (VQF).DFX's technical support is an external support. When you use it, personal data - such as your user name, first and last name, e-mail address, telephone number, IP address and payment information - is stored by this external support;The authentication of your identification documents is carried out by a specialised external company. Consequently, this company has access to (only) these documents.Necessary external providers that help us to adequately maintain or manage our current processes, product and service offerings and user base. In cases where the use of an external provider or service is required, we will ensure that the external provider exercises the same level of vigilance as DFX with respect to privacy and data security.Your personal data and/or contact information will not be sold by DFX in any way.Use of DFX's financial services requires registration on the website. Registration is free of charge and leads to the creation of a user profile after acceptance of the current Terms and Conditions.The submission and validation by DFX of various documents referred to in these Terms and Conditions is required for the purchase and sale of cryptocurrencies as well as for the conversion of cryptocurrencies. There is no pre-existing registration fee. DFX may reject any registration without giving any reason, bar any registered user - including in case of fraud, attempted fraud, forged securities or forged certificates - or refuse to complete a transaction. Blocked users may not re-register on the Website. If they do so, such users may be subject to criminal prosecution.To register on the Website, you must be a natural or legal person. You must also be able to exercise your civil rights (at least 18 years old and capable of judgement). Persons under the age of 18 are not permitted to register on the Website. Each user profile is unique, personal and non-transferable. The creation and use of multiple accounts by the same person is prohibited.

Registration and use of your activities

Please note that DFX may record and analyse all your actions on our websites, APIs, applications and other direct marketing campaigns for the purposes of security, system monitoring, administration, marketing and compliance with the legal and regulatory requirements to which DFX is subject. DFX will store this information under the appropriate security conditions for a limited period of time.DFX will not disclose your personal data to third parties, except in the following specific circumstances:In the course of fulfilling the legal and regulatory obligations to which DFX is subject under the Federal Anti-Money Laundering and Countering the Financing of Terrorism Act, its implementing regulations and by the regulation of the 'Association for the Quality Assurance of Financial Services' (VQF). Combating Money Laundering and Terrorist Financing (AML) in accordance with the Swiss Ordinance on Combating Money Laundering and Terrorist Financing (AMLO), the Ordinance of the Swiss Financial Market Supervisory Authority on Combating Money Laundering and Terrorist Financing in the Financial Sector (AMLO-FINMA) and the Ordinance of the Association for Quality Assurance of Financial Services (VQF).DFX's technical support is an external support. When you use it, personal data - such as your user name, first and last name, e-mail address, telephone number, IP address and payment information - is stored by this external support;The authentication of your identification documents is carried out by a specialised external company. Consequently, this company has access to (only) these documents.Necessary external providers that help us to adequately maintain or manage our current processes, product and service offerings and user base. In cases where the use of an external provider or service is required, we will ensure that the external provider exercises the same level of vigilance as DFX with respect to privacy and data security.Your personal data and/or contact information will not be sold by DFX in any way.Use of DFX's financial services requires registration on the website. Registration is free of charge and leads to the creation of a user profile after acceptance of the current Terms and Conditions.The submission and validation by DFX of various documents referred to in these Terms and Conditions is required for the purchase and sale of cryptocurrencies as well as for the conversion of cryptocurrencies. There is no pre-existing registration fee. DFX may reject any registration without giving any reason, bar any registered user - including in case of fraud, attempted fraud, forged securities or forged certificates - or refuse to complete a transaction. Blocked users may not re-register on the Website. If they do so, such users may be subject to criminal prosecution.To register on the Website, you must be a natural or legal person. You must also be able to exercise your civil rights (at least 18 years old and capable of judgement). Persons under the age of 18 are not permitted to register on the Website. Each user profile is unique, personal and non-transferable. The creation and use of multiple accounts by the same person is prohibited.

Identification level

When you register, the information and documents you need to submit to DFX and the maximum amount you can buy or sell depend on your identification level.Standard - light KYC limit 1,000 Swiss francs (CHF) / 900 euros (EUR)Restrictions:Transfers of cryptocurrencies to an unverified public address are not accepted.Advanced - full KYC (Know-your-Customer) process incl. proof of addressNo general limit. It is decided on a user-specific basis. Detailed information is available from support.Required information (KYC):A copy of your identity document (ID card or passport), which must have a signature, a legible MRZ code and a photograph.A recent photograph of yourself. Proof of residence that is less than three months old (acceptable documents: bank statements, credit card statements, internet, landline telephone, electricity, water or gas bills).A duly completed DFX registration form.A duly completed beneficial owner form.An initial payment with a bank account in your name. If you register a telephone number, a TAN code will be used.This means that you will receive a code by SMS which you will need to confirm with DFX.DFX reserves the right to conduct a video conference to verify your identity, including. if:DFX considers that the documentation provided is incomplete;You have your place of residence or business in a country at risk; orThe first payment you made was from a country at risk or via a bank account that does not belong to you.Any changes to your personal details must be notified to DFX immediately. The information provided must be complete and valid at all times.DFX will never disclose your password to any third party and will never ask you for such information by email or telephone. Any such request must be ignored and reported to DFX.You are not authorised to allow any other person to access your account. You are responsible for all activities conducted with your account.You may delete your account at any time by submitting a request to DFX technical support.DFX is required to retain records of transactions for ten years. This period starts from the end of the execution of the transactions or, if more than one transaction forms a whole, from the end of the last transaction. So if you have made transactions, your account cannot be deleted. However, it will be deactivated.

Conditions for the purchase of cryptocurrencies

Prices are in Euros, US Dollars or Swiss Francs or any other currency acceptable for payment and include Swiss Value Added Tax (hereinafter: VAT), if applicable. Payment may be made by bank transfer or by any other means of payment available on DFX's website. The exchange rate for cryptocurrencies is set at the time DFX receives the payment and can therefore vary significantly. Please note that a transfer may take several business days to reach its recipient.The transaction costs of the cryptocurrencies transferred to you are included in the base price.If transaction fees have been deducted by your bank or other intermediary from the amount you have agreed to pay, DFX will pay in cryptocurrency the equivalent of the amount actually received. If DFX is charged transaction fees for receiving the payment order made by you, DFX will deduct these fees (including exchange fees) from the amount received and pay the equivalent in cryptocurrency of the latter amount.Buy orders will be processed by DFX within five business days of receipt of payment. If the payment order is not processed within the aforementioned period, you are obliged to inform DFX immediately. If you fail to comply with this obligation, you will not be able to make any claims regarding the change in the exchange rate.

DFX points out that a maximum purchase volume of 100,000 EUR or 100,000 CHF can be processed per day and per customer. Execeptions may apply and can be discussed on an individual basis.

Furthermore, DFX guarantees payouts of cryptocurrencies to customers within 7 business days after receiving customer funds in the DFX company account.

Conditions for the sale of cryptocurrencies

You can create a sell order by entering the desired amount and payment currency. You must then follow the instructions on the website.Prices are in the cryptocurrency eligible for payment and include Swiss VAT (if applicable). Payment must be made by transferring the cryptocurrency to a one-way address provided by DFX as part of the process. You will have 10 minutes to transfer your cryptocurrency.Any bank charges will be at your expense.Sell orders will be processed by DFX within a period of five business days. This period starts after the cryptocurrency has been received in DFX's one-way account or blockchain address and after your transaction has been settled and recorded in the relevant blockchain. If the payment order is not processed within the above period, you are obliged to inform DFX immediately. If you fail to do so, you will not be able to make any claims regarding the change in exchange rate.

DFX points out that a maximum sales volume of 100,000 EUR or 100,000 CHF can be processed per day and per customer. Execeptions may apply and can be discussed on an individual basis.

Fees

Our fee structure applies exclusively to payments in the SEPA payment system. DFX reserves the right to charge additional fees in case of payments with other payment systems. DFX charges 3% on the transaction volume for SEPA payments. When using referral links, the fee structure changes (see section Referral Links).

Fee overview

Until 1m $DFI Buy Volume
(only with Ref Link)
With Ref Link
(above 1m $DFI Buy Volume)
Without Ref Link
(above 1m $DFI Buy Volume)
DFX AG 0,0% 2,0% 3,0%
Ref-Link Provider 0,5% 0,5% 0,0%
DEX* swap fees for dBTC 0,0% 0,0% 0,0%
DEX* swap fees for $DFI 0,2% 0,2% 0,2%
DEX* swap fees for all other Coins 0,2% 0,2% 0,2%
Exchange rate fees for EUR transactions** 0,0% 0,0% 0,0%
Exchange rate fees for non-EUR transactions*** 1,0% 1,0% 1,0%
max. TOTAL 1,9% 3,9% 4,4%
Until 1m $DFI Buy Volume
(only with Ref Link)
DFX AG 0,0%
Ref-Link Anbieter 0,5%
DEX* swap fees for dBTC 0,0%
DEX* swap fees for $DFI 0,2%
DEX* swap fees for all other Coins 0,2%
Exchange rate fees for EUR transactions** 0,0%
Exchange rate fees for non-EUR transactions*** 1,0%
max. TOTAL 1,9%

With Ref Link
(Over 1m $DFI Buy Volume)
DFX AG 2,0%
Ref-Link Provider 0,5%
DEX* swap fees for dBTC 0,0%
DEX* swap fees for $DFI 0,2%
DEX* swap fees for all other Coins 0,2%
Exchange rate fees for EUR transactions** 0,0%
Exchange rate fees for non-EUR transactions*** 1,0%
max. TOTAL 3,9%

Without Ref Link
(over 1m $DFI Buy Volume)
DFX AG 3,0%
Ref-Link Provider 0,0%
DEX* swap fees for dBTC 0,0%
DEX* swap fees for $DFI 0,2%
DEX* swap fees for all other Coins 0,2%
Exchange rate fees for EUR transactions** 0,0%
Exchange rate fees for non-EUR transactions*** 1,0%
max. TOTAL 4,4%

*Decentralized Exchange (DEX) of DeFiChain
**In the SEPA area, there should be no fees for EUR transactions; talk to the bank or change banks.
***In case of a CHF transaction it is recommended to accept the 1% fee, as most banks take a much higher fee which is hidden as a bad rate. (Raiffeisen or Post usually take 2.5%).

Referral Links

Our Referral Programme pays users 0.5% on the purchase volume purchased by a new user via the user's referral link. The referral programme has an upper limit of 100000 CHF purchase volume per user or the equivalent in any other offered currency. This means that the referral programme is only valid up to a total referral bonus of 500 CHF per user: 100000 CHF * 0.5% = 500 CHF.If the purchase volume of a user exceeds 100000 CHF, which has been transacted via this referral link, no more bonus will be paid.The number of users recruited through referral links, however, is unlimited.Furthermore, the referral programme can be changed or terminated at any time without giving reasons. There is no entitlement to ongoing referral bonus payments in the event of termination of the referral programme.

Transaction data

In order to be able to offer uncomplicated customer support, volunteer support staff have access to a certain part of the database. This data relates to the user's transactions and includes transaction ID, user ID, IBAN address, amount of the respective transaction and the corresponding transaction information. The first name, last name and other personal data are not part of this data. Furthermore, no conclusions can be drawn from this data to the first and last name and other personal data.

Political Risk

risksDFX points out that the cryptocurrencies offered are on the DeFiChain blockchain. DeFiChain is a project in the Decentralised Finance (DeFi) business area. Decentralised Finance is a new construct and it is not yet fully clear what the legal and regulatory implications will be for users and companies in this business area. DFX always complies with the current Swiss law and is in constant exchange with the authorities in order to implement this. DFX reserves the right to suspend the trading of individual cryptocurrencies at any time or to include additional cryptocurrencies in trading. Users of the DFX Brokerage Service are not entitled to trade cryptocurrencies if they have previously been suspended from trading, even if these cryptocurrencies have previously been acquired through the DFX Brokerage Service.Furthermore, cryptocurrencies that originate from the Decentralized Finance construct, e.g. through trading on a Decentralized Exchange (DEX) or through an exchange through an Atomic Swap, may be declared as higher risk coins and treated differently in the future than coins that have not been in such DeFi protocols. DFX has no influence on how the DeFi market will be regulated in the future and what consequences the use of DeFi protocols may have for users in the future. DFX cannot guarantee that it will continue to operate the Service at all times and DFX cannot guarantee that it will take back any Coins sold if the regulatory environment changes.

Your due diligence when placing an order

Minimum amountYou may not place a buy order whose value is less than the minimum amount specified on the DFX website.Requirements for buy ordersTake a buy order. Therefore, if you make a payment without a corresponding buy order, your money will be automatically refunded. Bank charges will be payable by you. You may also be charged administration fees.difference between the amount stated in the buy order and the amount actually received from DFXBuy order stated. If the amount paid by you is less than or more than the amount specified in your buy order, the cryptocurrency equivalent will be automatically adjusted by DFX within the limits of your quotas and the minimum amounts specified on DFX's website. Bank charges will be borne by you. You may also be charged administration fees.Address to be providedDFX must be notified of a Blockchain address that is valid and freely available to you. If you place a buy order and provide DFX with an address that is invalid or does not belong to you, your funds will be lost. DFX may make enquiries to try and recover lost cryptocurrencies but is not obliged to do so. These investigations are at DFX's sole discretion and may be carried out if large amounts of money are involved. You will be required to pay the cost of the searches, which will take into account the technical complexity and time required for the searches.Reason for PaymentYou must indicate the reason for your payment by using the following type of reference or payment purpose: 'XXXX-XXXX-XXXX', where the 'X 's represent capital letters or numbers. If the above reference does not appear on the payment order, your money will be refunded. You will be charged the bank charges and may also be charged an additional administration fee.Cancellation of Buy OrderBuy orders can be cancelled as long as the currency has not been received by DFX. You will be charged the bank charges and may also be charged an additional administration fee.Requirements for sell ordersYou must place a sell order before you make a payment. Therefore, if you make a payment without a corresponding sell order, your funds will generally be lost unless DFX is able to locate and refund them. All requests to recover funds must be made through DFX Technical Support. You may be charged administration fees.Difference between the amount stated in the sell order and the amount actually received by DFXIf the amount paid by you is less than or more than the amount stated in your sell order, the foreign currency equivalent will be automatically adjusted by DFX within your quotas and the minimum amounts stated on DFX's website. Bank charges will be borne by you. You may also be charged administration fees.Address specified by DFXYou must make payment by transferring the cryptocurrency to a blockchain address specified by DFX. If you send the cryptocurrency to an address other than the address specified by DFX, your funds will be lost as DFX does not hold the private keys for these addresses. DFX may make enquiries to attempt to recover lost cryptocurrencies, but is under no obligation to do so. These investigations are at DFX's sole discretion and may be carried out if large amounts of money are involved. You will be required to pay the cost of the enquiries, which will take into account the technical complexity and time involved in the enquiries.Deadline for payment of cryptocurrencyYou must make payment in cryptocurrency within 10 minutes of placing the purchase order. If you do not make the payment within this time limit, the cryptocurrency equivalent will be automatically recalculated and you will not be able to make any claims regarding the change in the exchange rate. In addition, the execution of the order and the recovery of funds are not guaranteed.Network feesIf the network fees chosen by the sender of the cryptocurrency (the customer) are too low or if the transaction is not confirmed on the relevant blockchain within one hour after the placement of the sell order, DFX reserves the right to recalculate the exchange rate at the time of confirmation of the transaction on the blockchain.Cancellation of the sell orderSell orders can be cancelled as long as the cryptocurrency has not yet been received by DFX.

Partial nullity and choice of law

Cancellation of Sell OrderSell Orders may be cancelled as long as the Cryptocurrency has not yet been received by DFX.If any of the General Terms and Conditions is void, annulled or otherwise invalid, the validity of the remaining General Terms and Conditions shall not be affected or impaired thereby.

Applicable law and place of jurisdiction

The Terms and Conditions shall be governed by and construed in accordance with the laws of Switzerland, excluding the conflict of law provisions of Switzerland or your actual country or state of residence. Any dispute, controversy or claim arising out of or relating to the Terms and Conditions, your relationship with DFX, including non-contractual obligations, shall be subject to the exclusive jurisdiction of the courts of Zug, Switzerland.