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Terms of Service and Usage

 Updated: 1 July 2024 

These Terms of Service (“Terms of Service” or “Terms”) are an agreement between Layer 8 Networks Pty Ltd ACN 626 832 559, NZBN 9429051280109, and its affiliates, meaning an entity that controls, is controlled by, or is under common control with Company (collectively “Company,” “us,” “we,” “our”) and the users (“you,” “your,” “Customer”) of our cryptocurrency retail buy/sell service through its automated kiosks (each a “Kiosk”, “Company Kiosk”), digital currency wallet (“CoinFlip Wallet”), mobile application (“App”), this website and any related services we may provide (the “Services”). These Terms govern your use of the Services. The Services are offered to you conditioned on your acceptance, without modification, of the terms, conditions, and notices herein. By visiting this website or using this Kiosk, you accept these Terms of Service. If you do not agree to these Terms of Service, you should not use the Company website or this Kiosk. Your continued use of this site or Kiosk means that you agree to be bound by our Terms of Service. Our Services are also governed by our Privacy Policy (https://www.coinflip.tech/en-NZ/privacy-policy). In addition, when using certain Services, you will be subject to any additional terms applicable to such Services. You acknowledge and agree that your personal information will be treated, collected, used, disclosed and stored in accordance with Company’s Privacy Policy. You agree that from time to time, we may review and update these Terms and our Privacy Policy, including to take account of new laws, regulations, products or technology. Your use of the Services will be governed by the most recent Terms and Privacy Policy posted on Company’s website. By continuing to use the Services, you agree to be bound by the most recent Terms and Privacy Policy which will be made available on the Company’s website. It is your responsibility to check the Company’s website regularly for updated versions of the Terms or the Privacy Policy. 

Any provision of these Terms which is invalid in any jurisdiction must, in relation to that jurisdiction, be read down to the minimum extent necessary to achieve its validity, if applicable (or, if that is not possible, severed from these Terms), without invalidating or affecting the remaining provisions of these Terms or the validity of that provision in any other jurisdiction.  

Disclosure of Material Risks of the Services 

  1. Cryptocurrency is not legal tender and is not backed by any government or financial institution and is not subject to any government guarantee or other protections; 

  2. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of cryptocurrency; 

  3. You are responsible for verifying the accuracy of all transaction information prior to using our Services as transactions in Cryptocurrency are irreversible, and, accordingly, losses due to fraudulent or accidental transactions are not recoverable; 

  4. Cryptocurrency transactions shall be deemed to be made when recorded on the network's public ledger, which is not necessarily the date or time that the Customer initiates the transaction; 

  5. The value of cryptocurrency may be derived from the continued willingness of market participants to exchange fiat currency – such as New Zealand dollars – for cryptocurrency, which may result in the potential for permanent and total loss of value of cryptocurrency should the market for  cryptocurrency fall; 

  6. There is no assurance that any person who accepts cryptocurrency as payment today will continue to do so in the future; 

  7. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant or total loss; 

  8. The nature of cryptocurrency as an Internet-based protocol may lead to an increased risk of fraud or cyber-attack; and  

  9. The Company does not guarantee the Service’s availability. 

Risk of Loss 

A Customer assumes all risk of loss associated with the holding of any cryptocurrency and acknowledges that cryptocurrency is a volatile asset class. Cryptocurrencies are not entitled to any government guarantee scheme or other protection, and are not otherwise insured or guaranteed by the Company or any other party. The Company is not a licensed Financial Advice Provider and does not provide any financial product advice or guidance on the suitability of holding cryptocurrencies. The Company is not in any way responsible if the price of cryptocurrency decreases following a Customer’s purchase. All information provided on the Services is, unless otherwise indicated, factual information and does not involve any recommendation or statement of opinion by us or any third party. Such information does not take into account your objectives, financial situation or needs and you should consider obtaining professional financial advice before making any investment decisions. 

The Company is not in any way responsible for the safekeeping of a Customer’s cryptocurrency following purchase.  The Company is not a custodian of the Customer’s funds or cryptocurrency and has no ability to access Customer funds on any cryptocurrency wallet. 

In order to access our Services, you may be required to use a cryptocurrency wallet provided by a third party. If you use the CoinFlip Wallet, you agree to the CoinFlip Wallet Terms of Use (“CoinFlip Wallet Terms”), provided below. You must use your own cryptocurrency wallet. You are not permitted to use the cryptocurrency wallet of any other person or any third party. If the Company recommends or requires that the Customer use third party wallet applications for the storage of any cryptocurrency, it is solely that Customer’s responsibility to conduct his or her own due diligence on those applications before using them. We have no control of or responsibility for any such wallets provided by a third party, and cannot provide support for these wallets. The Company cannot provide any technical or customer support for any malfunction or other issue that may arise in connection with your use of such wallets. You are wholly responsible for maintaining the security of any wallet you may use in connection with the Service. The Company is not responsible in any way for the functionality of such wallets or the safekeeping or security of cryptocurrency sent by the Company to or from a third party wallet, or any cryptocurrency stored in a third party wallet. Customer acknowledges and agrees that they will only use a wallet owned by Customer to conduct transactions using the Services.    

Customer Eligibility to Use the Service 

In order for us to meet our obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 and associated regulations (AML/CFT obligations), we are required verify the identity of our Customers as well as certain information about our Customers' beneficial owners (where relevant).  

What this means for you: when you request a transaction at any Kiosk or use the App we may ask for your name, address, date of birth, source of funds, and other information that will allow us to identify you and verify your identity. We may also ask to see your driver’s licence or other identifying documents, which we may request from you again when those identifying documents expire and or when we are otherwise required to do so pursuant to our AML/CFT obligations. This required identifying information may change at any time for any reason. 

You may be required to complete this identity verification process to the satisfaction of Company in order to access and use a Kiosk or certain features of the Services or to do so at a later date. You agree to provide true, accurate, current and complete information about yourself. Even if you have previously verified your identity with us, we may ask for additional information to allow us to verify your identity again. This may occur at any time and for any reason. We may refuse to open an account for you, or restrict or close your existing account if we cannot verify your information, or if you do not provide identifying information and documents as requested.  

We are not liable for any loss incurred by you as a result of any action by us which either delays a transaction from occurring or results in a transaction being declined, when these actions are necessary for us to comply with our AML/CFT obligations. 

We may use a third party document verification service to verify Customers' government issued identification. 

If you are under 18 years of age, you are not authorised to use the Services. The Company does not accept entities or legal persons other than natural persons as Customers of the Services. The Services are for personal use only. We reserve the right to reject any person as a Customer of the Services at our discretion. 

You are not permitted to use the cryptocurrency wallet of any other person or any third party. As a Customer, you agree to use your own cryptocurrency wallet for any and all transactions. Further, you agree that you are a New Zealand-based Customer and that your cryptocurrency wallet is located in New Zealand. 

Your Account 

To access some features of the Services, you may be required to create an account (“User Account”) with us or with a third party that operates that portion of our Services.  If you create an account with such a third party, their terms of use and privacy policy will apply to your use of the account in addition to these Terms and our Privacy Policy.  

You must be at least 18 years of age to register for a User Account, and by registering you represent and warrant that you are eligible for a User Account under this provision.   

When creating an account, you agree that all account registration information, including any documentation such as your government issued identification, you submit will be your own, true, and accurate.  We reserve the right to refuse account registration for any reason or no reason which is legal. A Customer’s account is tied to the Customer’s mobile phone number, email address, and/or identification. A Customer may only be able to access the Services using the email address and/or mobile phone number first provided to the Company.  

This is an individual account. You may not jointly own or share your account with any other person for any reason. You are responsible for maintaining the confidentiality of your password for Services requiring a password.  You may not allow any other person to conduct a transaction using your account or identity for any reason, or use any other person’s account or identity to conduct a transaction, even if they permit you to do so. You may not assign or transfer your account or any interest in your account to any other person.  You agree to notify us immediately of any unauthorised use of your account.  You agree that you are responsible for maintaining the confidentiality of your password for Services requiring a password.  To the extent permissible by law, all activity conducted in connection with your User Account will be your responsibility. 

A Customer’s account is tied to the Customer’s mobile phone number and identification. A Customer may only be able to access the Service using the mobile phone number first provided to the Company. 

You are responsible for maintaining the security of your account and any device, such as your mobile phone, that you may use to create or access your account or the Service. Subject to applicable law, you are responsible for all transactions and activity conducted on your User Account, regardless of whether you authorised it. We have no responsibility for the loss, theft, or unauthorised use of your account or any device you use to access your account or the Services. Subject to applicable law, A Customer assumes all responsibility in the safekeeping of his or her cryptocurrency and any cryptocurrency wallet(s). You must contact us immediately by telephone at 0800 447 756 if you believe someone else is using your account or your account security has been compromised. 

Notwithstanding anything to the contrary herein, you acknowledge and agree that you shall have no ownership or other property interest in any account stored or hosted on the Services, and you further acknowledge and agree that all rights in and to such accounts are and shall forever be owned by and inure to the benefit of Company. You may not transfer, share, or make available your account information to others. Any distribution by you of your account information may result in suspension, termination or cancellation of your access to the Services.  You alone are responsible for any costs you incur to access the Internet. 

Transactions and Limitations 

Transactions may be made only in New Zealand Dollars and the cryptocurrencies supported by the Company. Supported cryptocurrencies may change from time to time.  If you send the Company any cryptocurrency other than the supported cryptocurrency you indicated at the beginning of a sell transaction, the Company may be unable to return the cryptocurrency to you.  In such an event, the Company is not liable to you for the lost cryptocurrency and will not refund you any amount. 

ALL TRANSACTIONS ARE IRREVERSIBLE AND NON-REFUNDABLE. You have no right to stop payment on any transaction. The Kiosk may provide you with a physical transaction receipt or a digital receipt via SMS text message. Please keep this transaction receipt for your records. 

The Company may at any time limit the amount of any transaction that may be conducted by a Customer, and institute daily, weekly and/or monthly transaction limits on a Customer’s use of the Service. These limits may be changed at any time for any reason by the Company in its sole discretion, with or without notice to you. Use of multiple wallets or another person’s identifying information to circumvent these limits is strictly prohibited and may result in suspension of your ability to use the Service. We have the absolute right to close or suspend your account at any time, and for any reason not prohibited by law. We also have the absolute right in our sole discretion to reject any transaction request. 

If we are served with any court order, regulatory authority direction or other legal process relating to your account or use of the Services (“Legal Action”), we will comply with that Legal Action. We may freeze or place a hold on any assets you have tendered to us, until a final determination has been made by a court or relevant regulatory authority regarding the Legal Action. We may do these things even if the Legal Action involves less than the amount on which the hold was placed. In these cases, we will not have any liability to you because we fail to complete your requested transaction, or because in any way restricted access to your funds, account, or use of the Service in accordance with the Legal Action. You may be responsible for any fees or expenses we incur in responding to any Legal Action (including attorneys' fees and our internal expenses). 

We may also place a hold on any assets you tender at a Kiosk if we believe, in our sole discretion, that the requested transaction is suspicious or is in violation of law or these Terms of Service. We may refuse to release the hold on any such funds for as long as we deem reasonably necessary to complete an investigation of the activity or source of the assets. Funds may be frozen, blocked, or delivered to a regulatory authority if required by applicable law, at the order, direction, or request of a regulatory authority, or as reasonably necessary to ensure the Company can comply with all of its legal obligations and cooperate with any investigation, subpoena, inquiry, request for information, examination, or similar request from a regulatory authority. 

Fees 

Fees at Kiosks 

You agree that the Company may charge and you will pay a fee of up to approximately 16.99% of the total transaction amount (the “Transaction Fee”). The Transaction Fee refers to the difference between the cash inserted or received at the Kiosk and the current Market Price of the cryptocurrency purchased or sold, excluding the Network Fee.  “Market Price” shall mean the actual market price of the cryptocurrency being traded at the time the transaction is executed by Company, as determined solely by Company.  Company uses CoinAPI indexing to determine Market Price. Company reserves the right to use a different source without notice to determine Market Price for any reason where Company considers it reasonable to do so. By transacting with Company, you waive any claims or liability against Company based on the manner in which Company determines the Market Price. Company also charges a minimum $1.99 Network Fee.    

“Network Fee” shall mean the minimum $1.99 fee applied towards the required payment to use the applicable blockchain to send your selected cryptocurrency to your cryptocurrency wallet.  Due to the nature of how Company processes customer transactions, Company may periodically profit from the Network Fee.  During times of high transaction volume, the Network Fee may be increased.  By transacting with Company you waive any claims or liability against Company based on the charged Network Fee.   

There may be additional fees applied to your transaction by the blockchain responsible for computing the transaction. These fees are often called “gas” fees and are deducted from your transaction automatically and sent directly to the blockchain. Similar to gas fees, some tokens created by a blockchain may have fees specific to them. For example, the Ethereum blockchain charges a 0.02% fee on all PaxG transactions when the token is both sent and received. Company does not control or receive gas fees or token-specific fees.   

The Transaction Fee is calculated as a percentage over the Market Price, as described in full in the paragraph above. The Transaction Fee and Network Fee are included in the exchange rate applicable to your transaction. Before you complete a transaction, we will tell you the exchange rate applicable to your transaction. In other words, Company will tell you: (1) the amount you must pay in fiat currency to purchase a certain amount of cryptocurrency from Company or (2) the amount Company will pay you in fiat currency to purchase a certain amount of cryptocurrency from you. By proceeding with the transaction, you agree to pay the exchange rate, including the Transaction Fee and Network Fee, and you agree to the other terms applicable to the transaction as set forth in these Terms of Service. If you do not agree, you may not proceed with the transaction and must immediately discontinue your use of the Kiosk for that transaction.  

Company reserves the right to change its Transaction Fees.  You understand and acknowledge that all Company Kiosks may not charge the same Transaction Fees.  By completing your transaction, you acknowledge that you have been presented the exchange rate applicable to your transaction and have agreed to it, including the Transaction Fee and Network Fee.  

Company offers a rate-matching programme to ensure that our fees are low, applicable to fees charged at Company Kiosks, only. If you have found a lower regularly advertised fee for the same service on a cryptocurrency kiosk within 8 kilometres of the Company Kiosk you intended to use, contact Company at 0800 447 756. To take advantage of this programme, you must provide: (1) the Company Kiosk location you intended to utilise and (2) proof of the lower fee (inclusive of all costs) for a competitor cryptocurrency kiosk located within 8 kilometres of the Company Kiosk you intended to use. Company reserves the right to deny the rate-match if proof of a lower fee is not provided, is fraudulent, or is otherwise inadequate. 

Fees in the App 

For purchases in the App, you will be required to pay a Processing Fee, a Transaction Fee, and a Network Fee.  The Processing Fee is calculated as a percentage over the Market Price, as detailed below.  The Processing Fee may vary based on your chosen payment method, e.g. debit card processing fee, credit card processing fee.  Before you confirm a transaction, we will provide you the exchange rate applicable to your transaction in addition to all applicable fees, including the Processing Fee, Transaction Fee, and Network Fee.  By proceeding with the transaction, you agree to pay the exchange rate, including the Transaction Fee, Processing Fee, and Network Fee, and you agree to the other terms applicable to the transaction as set forth in these Terms of Service.  If you do not agree, you must not proceed with the transaction and must immediately discontinue your use of the Services for that transaction.   

Customer Obligations 

It is the sole responsibility of the Customer to check the accuracy of information entered while using the Service, including, but not limited to, the amount of the requested transaction, the type of currency or cryptocurrency to be exchanged and transferred, and the account/cryptocurrency address to or from which the cryptocurrency will be transferred.  Account/cryptocurrency address details displayed on the order summary page will be the final transfer destination. By submitting a transaction request at a Kiosk, you authorise us to complete the transaction according to the information you entered and was presented to you on the order summary page. In the case that this information is incorrect, and funds are transferred to an unintended destination, the Company shall not reimburse the Customer nor be liable for any loss.  As such, Customers must ensure the cryptocurrency address entered or scanned is correct. If we believe any error occurred with respect to a transaction you made at a Company Kiosk, we may, but are not required to, charge your account or the wallet you presented at the Kiosk as needed to correct the error. You hereby authorise all such charges and agree to provide us with any information we need to conduct that transaction.  

We will use our best efforts to fulfil your transaction requests, however we do not guarantee that your transaction requests will be wholly or partially executed by a certain time due to reasons including if: 

  1. your instructions are contrary to the terms applicable to you and the terms of any third party provider we use; 

  2. the transaction request is unexecuted due to any act or omission of any third party; 

  3. your instructions are ambiguous or incomplete; 

  4. your instructions would result in a breach of the law; 

  5. your order may need to be manually vetted. 

Customers agree not to use the Services to engage in any activities that violate any applicable local, state, federal or international law, or to perform any type of illegal or illicit activity of any sort, including, but not limited to, money laundering, narcotics trafficking, human trafficking, tax evasion, or terrorism financing, or do anything to negatively affect the performance of the Services or violate these Terms of Service. Suspicion of using the Services for an unauthorised or illegal activity, or in violation of these Terms of Service, is cause for the Company to suspend all access of a Customer to the Services; whether this suspicion is warranted is exclusively within the absolute discretion of the Company. 

Customers agree to respond to all enquiries from the Company regarding the Customer’s account or transactions; failure to diligently respond to the Company’s inquiries may result in a suspension of the account and future transactions. 

Accessibility  

If for some reason you are not able to use our Kiosk because of a disability, please call our 24 hour a day customer support at 0800 447 756 for assistance. We have solutions to accommodate the purchase and sale of cryptocurrency for Customers who cannot transact at our Kiosks because of a disability. 

Communications 

You agree that we and our service providers may communicate with you by mail, telephone, email, fax, pre-recorded message, automated voice, text message, presentation of information on the Kiosk screen, or other means allowed by law regarding your account or use of the Service. You further agree and consent to receiving marketing and promotional messages and communications from us from time to time.  You authorise us to send communications (including marketing and promotional communications and messages) to the contact information you provided to us. You may opt out from receiving marketing or promotional communications and messages at any time by using the unsubscribe function provided in the relevant message (where the message is an electronic message, such as an email or SMS) or by calling us at 0800 447 756 or emailing [email protected]. Even if you opt out from receiving marketing and promotional messages from us, you may still continue to receive non-marketing and promotional communications and messages from us from time to time (e.g. communications and messages regarding your account, transactions or the Service). 

Notices will be deemed to have been delivered on the day we mailed it to you, or made it available electronically. Any notice you give us is effective after we actually receive and have a reasonable opportunity to act on it. We are not responsible for items lost in, or not delivered by, mail or e-mail. Some notices may only be available electronically or in paper form. 

Your account is provided electronically. We may send communications electronically, such as by email or text message, or on the Kiosk screen, rather than through common carrier mail or other means, unless the law says otherwise. You are required to communicate with us by electronic means in order to open and use your account. If you revoke your consent to electronic communications, we may close or restrict your account and we may not permit you to use the Service. 

We may record and/or monitor any of our telephone conversations with you. If we do record, we do not have to keep the recordings, unless the law says we must. When you give us your mobile number, we have your permission to contact you at that number about your account, transactions and for marketing and promotional purposes. Your consent allows us and our service providers to use SMS, artificial or pre-recorded voice messages and automatic dialling technology for informational and service calls. This communication may include contact from companies working on our behalf to service your account.  

You are responsible for promptly notifying us of any change to any of your contact information, including your address, or your name. In some instances, we may request additional information for verification purposes and/or to meet our AML/CFT obligations 

You are responsible for obtaining and maintaining all telecommunications, mobile, broadband, computer, hardware, software, equipment and services needed to access and use the Services and receive communication from the Company. 

Intellectual Property 

Company, its licensors, or suppliers own all rights, title and interest in and to all other content, products offered via the Services, software (including source code), logos, icons, the Services’ "look and feel," text, graphics, images, video clips, sound clips, notices, data, page layout, selection and arrangement of the content of the Services, the features and functionality of the Services, and any compilation of the foregoing, and all copyrights, trademarks, patents, trade secrets, and other intellectual property rights embodied therein, whether or not applied for or registered (collectively, “Company Content”).  

You may not modify, publish, transmit, participate in the transfer or sale of, reproduce, create derivative works from, distribute, perform, display, incorporate into another website, app, or other service, or in any way exploit any of the Company Content, in whole or in part, except as set forth in these Terms or applicable supplemental terms, without the specific permission of Company or its licensors or suppliers.   

Company and its licensors and suppliers reserve all rights not expressly granted in and to the Company Content.  Any third party trademarks or content present within the Services are property of their respective owners.   You may not use Company Content in a manner that suggests an association with Company or any of our products, services, or brands.  

Subject to these Terms, Company grants you a limited licence to reproduce portions of Company Content solely as required to use the Services for your personal or internal business purposes. Unless otherwise specified by Company in a separate licence, your right to use any Company Content is subject to these Terms.  

Trademarks  

Layer 8 Networks Pty Ltd, GPD Holdings LLC, CF Preferred LLC, CoinFlip, and other related graphics, logos, service marks and trade names used on or in connection with the Services are the trademarks of the Company and may not be used without permission in connection with any third party products or services. Other trademarks, service marks and trade names that may appear on or in the Services are the property of their respective owners. 

Your Licence 

Subject to your compliance with these Terms and any applicable supplemental terms, we grant you a limited, personal, revocable, non-exclusive, nontransferable licence to: 

i. access and use the Services solely for your personal use; 

ii. link to the Services, provided however, that your or any third party website, app, or other service that links to the Services (1) must be targeted to consumers 18 years of age and older; (2) must not contain or facilitate the sale of prohibited products or services; (3) must not provide financial information or financial claims; (4) must not frame or create a browser or border environment around any of the Company Content or otherwise mirror any part of the Services; (5) must not imply that Company is endorsing or sponsoring it or its products or services, unless Company has given it prior written consent; (6) must not present false information about, or disparage, tarnish, or otherwise, in our sole opinion, harm Company or the Services; (7) must not use any Company trademarks without the prior written permission from us; (8) must not contain content that could be construed as distasteful, offensive or controversial or otherwise objectionable (in our sole opinion); (9) must be owned and controlled by you or the person or entity placing the link, or otherwise permit you to enable such link subject to these Terms; and (10) must comply with all applicable laws and regulations and not cause Company to violate any applicable laws or regulations. By linking to the Services, you agree that you do and will continue to comply with the above linking requirements.  Notwithstanding anything to the contrary contained in these Terms, Company reserves the right to prohibit linking to the Services for any reason in our sole and absolute discretion even if the linking complies with the requirements described above.   

The foregoing licence does not include any right to modify, publish, participate in the transfer or sale of, reproduction, or creation of derivative works from the Company Content, except as and only to the extent expressly stated above. 

You agree not to challenge any of Company’s rights and interests in the Services or Company Content, including to refrain from acquiring any proprietary rights. By submitting comments, notes, or similar information to us or via the Services, you automatically grant, and confirm you have the ability to grant to, us a perpetual, royalty-free, irrevocable, non-exclusive right and licence to use, modify, translate, create derivative works from, and distribute such materials in any form. 

We reserve any and all rights not expressly granted to you pursuant to these Terms.    

Updates 

The Services are evolving and you may be required to accept or install updates to the Services, or update third party software (i.e., browsers or OS) in order to keep using the Services or access their latest features, including security updates. We may update, withdraw, suspend, or discontinue the Services at any time, without providing notice. You agree that we will not be liable to you or to any third party for any modification, suspension, or discontinuance of the Services or any part thereof. 

Certain Restrictions 

By accessing the Services, you agree not to: (a) license, sell, rent, lease, transfer, assign, reproduce, distribute, host or otherwise commercially exploit the Services or Company Content, or any portion thereof, including on a service bureau or equivalent basis; (b) frame or enclose any trademark, logo, or other Company Content, (including images, text, page layout or form); (c) use any metatags or other “hidden text” using Company’s name or trademarks; (d) modify, translate, adapt, merge, make derivative works of, disassemble, decompile, reverse compile or reverse engineer any part of the Services or Software (except to the extent this restriction is expressly prohibited by applicable law); (e) use any manual or automated software, devices or other processes (including spiders or other data mining tools) to “scrape” or download data from any web pages in the Services (except that we grant operators of public search engines revocable permission to do so for the sole purpose of creating publicly available searchable indices (but not caches or archives) of such content; (f) access the Services in order to build a similar or competitive Service(s); (g) copy, reproduce, distribute, republish, download, display, post or transmit any Company Content except as expressly permitted herein; (h) remove or destroy any copyright notices or other proprietary markings contained on or in the Services or Company Content; (i) disguise your location to access location-restricted services or otherwise through IP proxying, VPN or other methods; (j) violate any applicable local, state, federal or international law, rules, regulations or local ordinances; or (k) encourage or enable any other individual to do any of the foregoing.  Any unauthorised use of the Services terminates the licences granted by Company herein.  

Limitation of Liability  

TO THE EXTENT PERMITTED BY LAW (INCLUDING THE NEW ZEALAND FAIR TRADING ACT 1986 (AND CONSUMER GUARANTEES ACT 1993 (CGA) (TOGETHER, THE CONSUMER PROTECTION LEGISLATION)) ), THE COMPANY EXCLUDES ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED (NOT INCLUDING ANY CONSUMER GUARANTEES UNDER THE CGA), INCLUDING ANY WARRANTIES OR REPRESENTATIONS CONCERNING AVAILABILITY OF THE SERVICES, QUALITY, COMPLETENESS, ACCURACY, SUITABILITY, ACCEPTABILITY OR FITNESS FOR PURPOSE IN RELATION TO THE SERVICES. SUBJECT TO THE CONSUMER GUARANTEES PROVIDED FOR IN CONSUMER PROTECTION LEGISLATION (INCLUDING THE CGA), WE DO NOT WARRANT THAT YOU WILL HAVE CONTINUOUS ACCESS TO THE SERVICES.  

To the extent permitted by law (including the Consumer Protection Legislation), the liability of us in respect of any non-excludable warranties or conditions relating to the Services, all links to or from the Services and the goods and services advertised or accessible using the Services is limited to resupplying the relevant Services or the reasonable cost of resupplying the relevant Services, whichever we see fit to provide.  

You agree that we, our service providers, agents, officers, directors, and employees (and the same of our service providers, subsidiaries and affiliates themselves) (each, and “Indemnified Party” and collectively, the “Indemnified Parties”) will not be liable for anything we do when following your instructions. In addition, the Indemnified Parties will not be liable if any such Indemnified Party does not follow your instructions if we reasonably believe that your instructions would expose us to potential loss or civil or criminal liability, or conflict with customary banking practices. THE INDEMNIFIED PARTIES WILL NOT BE LIABLE FOR INDIRECT, SPECIAL, OR CONSEQUENTIAL DAMAGES REGARDLESS OF THE FORM OF ACTION AND EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. This section will survive termination of your account and use of the Service. 

The Company cannot be held liable for any malfunction, breakdown, delay or interruption to the Internet connection, or if for any reason its Services are unavailable at any time or for any period.  

To the greatest extent permissible by law, you further acknowledge and agree that we are not responsible (whether in contract, tort or otherwise) for any loss or damage caused or suffered by you to the extent that the loss or damage results from: 

  1. any defect in our computer systems, or any delay, fault, failure in or loss of access to the Service; 

  2. if an order is filled prior to us receiving and processing a cancellation or amendment, you will accept the transaction on the original terms; 

  3. telecommunications failure, delay, or interruption of or defective network or internet connections or services by a third party; 

  4. your incorrect operation of the Service; 

  5. your failure to safeguard your account password; 

  6. inaccuracy, error or omission in any material, data or information provided by you or any other third party through the Service; 

  7. actions of third parties in respect; or  

  8. any delay, interruption, omission, failure, error or fault in the execution of your instructions provided through the Service.  

Customer acknowledges that an account may be suspended for any reason and Customer may not be able to have access to the Service at any time for any reason. Except where we fail to meet a consumer guarantee under the CGA and notwithstanding any other provision of these Terms of Service, we will not be liable to you for:  

  1. any damage, loss or expense resulting from or caused by: 

  2. any act by us which was carried out in good faith (notwithstanding that such act may have been in breach of these Terms or negligent); 

  3. your investment decisions and any acquisitions and sales of cryptocurrencies you make, regardless of whether such decisions were made in light of any content available on our Services; 

  4. fluctuations in the value of cryptocurrencies; 

  5. any act or omission of any third party; 

  6. any inaccurate or incorrect Third Party Information; 

  7. any inaccurate or incorrect information in your content or otherwise provided by you; 

  8. any event or circumstance beyond our reasonable control including, without limitation, a Force Majeure Event; 

  9. any breach of these Terms, negligence, default, fraud or dishonesty by you; and 

  10. any direct or indirect lost profit, loss of opportunity, incidental, consequential or special damages, howsoever the loss is caused and regardless of whether it was foreseeable or not. 

Indemnification 

You agree to indemnify and hold the Indemnified Parties harmless from and against losses arising in connection with the Services, except for losses arising out of our own gross negligence or wilful misconduct. You further agree to hold the Indemnified Parties harmless from losses arising out of actions taken or omitted in good faith by any Indemnified Party in reliance upon instructions from you. The Indemnified Parties are not responsible for any actions or omissions by any third party. If you give us instructions that we believe may expose us to potential liability, we may refuse to follow your instructions and we will not be liable to you if we refuse to follow your instructions. If we do choose to follow your instructions, we may ask you for certain protections such as a surety bond or an indemnity agreement in a form that is satisfactory to us. This section will survive termination of your account and use of the Services. 

Force Majeure   

Company shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control (a “Force Majeure Event”), including but not limited to, significant market volatility, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labour dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, labour shortages, pandemic, government regulations, or other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions. 

Termination 

We may terminate your access to and use of all or some of the Services, at our sole discretion, at any time and without notice to you. Upon any termination, discontinuation or cancellation of Services or Your User Account, (i) all rights and/or licences granted to you under these Terms shall immediately cease and terminate and you shall forthwith cease the use and/or access of the Services in any way whatsoever; and (ii) notwithstanding the foregoing, the following provisions will survive: Ownership of Digital Currency, Risk of Loss, Limitation of Liability, Indemnification, Termination, Jurisdiction, Disputes. 

In the event of suspension or termination by Company, we may delete your User Account, including deleting your transaction history, and other information; and prohibit any your further use by you of the Services.  You understand that such actions may be taken without any liability whatsoever to you for any suspension or termination. 

If your access to the Services is terminated under these Terms, you agree you will not attempt to re-register with or access the Services through use of a different username or otherwise. In the event that you violate the immediately preceding sentence, we reserve the right, in our sole discretion, to immediately take any or all of the actions set forth in these Terms without any notice or warning to you. 

Miscellaneous 

If we fail to exercise or delay our exercise of any right we have under these Terms of Service, that does not mean that we waive that right or any other right, and we may still enforce all of our rights in the future. 

Choice of Laws; Dispute Resolution  

Choice of Laws. These Terms of Service shall be governed and construed in accordance with the laws of New Zealand. 

Dispute Resolution. The Company and Indemnified Parties are always interested in resolving disputes amicably and efficiently, and we believe most Customer concerns can be resolved quickly and to your satisfaction by emailing customer support at [email protected]. If such efforts prove unsuccessful, then the following applies: 

  1. The Company is a Financial Service Provider and is a member of a dispute resolution scheme under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (Dispute Resolution Scheme).  If the dispute is able to be resolved within the rules of the Dispute Resolution Scheme, the dispute must be dealt with in accordance with the Dispute Resolution Scheme rules. 

  2. If the dispute cannot be resolved by the Dispute Resolution Scheme, and subject to the exclusions below, a party may send to the other a written Notice of Dispute (“Notice”) for the dispute to be resolved by mediation. The Notice to the Company or Indemnified Party should be sent to Layer 8 Networks, c/o – Level 2, 159 Hurstmere Road, Takapuna, Auckland 0622 (“Notice Address”). The Notice must (i) describe the nature and basis of the claim or dispute and (ii) set out the specific relief sought. The parties must then submit the dispute to mediation before having recourse to any other dispute resolution process.  Written notice of the dispute must be given for it to be submitted to mediation before a mediator chosen by the parties or, where the parties cannot agree, by the Arbitrators and Mediators Institute of New Zealand (AMINZ).  The parties will use their best endeavours to settle the dispute promptly.  The mediation will be conducted in accordance with the AMINZ Mediation Guidelines to the extent that they do not conflict with the provisions of this agreement.  If the dispute is not resolved within 60 days after notice of the dispute, the mediation will terminate unless the parties otherwise agree.  

Exclusions. You and we retain the right to pursue any dispute that is within the jurisdiction of the New Zealand Disputes Tribunal or a New Zealand court to be heard in such tribunal or court so long as the disputes remain in such tribunal or court and advance only an individual claim for relief and provided that the dispute is not required to be resolved under the Dispute Resolution Scheme. 

General Terms 

Third Party Content, Links, and Applications 

The Services may enable you to access other sites and mobile applications through links or may include third party content that we do not control, maintain, or endorse.  These sites, apps, and content are not owned or controlled by Company, and as a result, we are not responsible or liable for, and you release us from, any loss or damage incurred by you as a result of any dealings between you and these third parties, or the failure of these third party sites or apps to function properly. The inclusion of any link or grant of access on the Services does not imply or express an affiliation or endorsement of the site, app, or contents.   

Special Terms for Apple iOS users 

Notwithstanding any other provision within these Terms, the following additional terms are applicable to those using the Services on Apple’s iOS platform: You understand that these Terms are between you and us only, and not with Apple. Company, not Apple, is solely responsible for the Services and the content thereof. You further understand that the Services may not be used in any manner inconsistent with the current version of the Apple App Store Terms of Service, as may be updated from time to time. You are granted a licence to use the Services on any iOS device that you own or control and as permitted by the “Usage Rules” set forth in the Apple App Store Terms of Service. We are solely responsible for providing maintenance and support for the Services, as specified in these terms or as required under applicable law. You understand that Apple has no obligation whatsoever to furnish any maintenance and support services with respect to the Services. We are solely responsible for any warranties, whether express or implied by law, to the extent not effectively disclaimed. In the event of any failure of the Services to conform to any applicable warranty, you may notify Apple, and Apple will refund the purchase price for such Services to you (if any); and that, to the maximum extent permitted by applicable law, Apple will have no other warranty obligation whatsoever with respect to the Services, and any other claims, losses, liabilities, damages, costs or expenses attributable to any failure to conform to any warranty will be the sole responsibility of us. We, not Apple, are responsible for addressing any claims by you or any third party relating to the Services or your possession and/or use of the Services, including, but not limited to: (i) product-liability claims; (ii) any claim that the Services fails to conform to any applicable legal or regulatory requirement; and (iii) claims arising under consumer protection or similar legislation. Our liability is limited so far as permitted by applicable law. In the event of any third-party claim that the Services or your possession and use of such Services infringes that third party’s intellectual property rights, we, not Apple, are solely responsible for the investigation, defence, settlement and discharge of any such intellectual property infringement claim. You and we acknowledge and agree that Apple will have the right (and will be deemed to have accepted the right) to enforce these Terms against you as a third-party beneficiary thereof. If you have any questions or concerns regarding the Services, please contact us as described below. 

Terms Applicable to CoinFlip Wallet 

Wallet Account 

When you access certain features of the Services, you will be able to create a wallet and/or access a wallet to store digital currencies. You will not give the Company any of your assets, and your tokens and digital currency are not in possession of the Company when they are in a CoinFlip Wallet. All assets are on the blockchain itself, and we do not control them. The Company does not collect or hold your keys, recovery codes or information, and the Company cannot access wallets; recover keys, passwords, or other information; reset passwords; or reverse transactions. You are solely responsible for your use of the Services, including without limitation for storing, backing up, and maintaining the confidentiality of your keys, passwords, recovery codes, and information, and for the security of any transactions you perform using the Services. You expressly relieve and release the Company from any and all liability and/or loss arising from your use of the Services. 

Supported Digital Currencies  

The CoinFlip Wallet is intended solely for proper use of supported digital currencies as designated by the App, CoinFlip Kiosks and CoinFlip Preferred. Under no circumstances should you attempt to use your CoinFlip Wallet to store, send, request, or receive any assets other than supported digital currencies. The Company assumes no responsibility in connection with any attempt to use your CoinFlip Wallet with digital currencies that we do not support. If you have any questions about our current list of supported digital currencies, please contact CoinFlip customer support.  In addition, you agree that the CoinFlip Wallet does not support the following: metacoins, colored coins, side chains, or other derivative, enhanced, or forked protocols, tokens, or coins or other functionality, such as staking, protocol governance, and/or any smart contract functionality, which may supplement or interact with a digital currency we support.  You acknowledge and agree that supplemental protocols are excluded from supported digital currency and that the Company has no liability for any losses related to supplemental protocols. 

Ownership of Digital Currency  

Title and ownership of digital currency shall at all times remain with you and shall not transfer to the Company, unless you sell the subject digital currency to the Company at two-way CoinFlip Kiosk or CoinFlip Preferred.  As the owner of digital currency in your CoinFlip Wallet, you shall bear all risk of loss of such digital currency. The Company shall have no liability for digital currency fluctuations. 

Blockchain   

Due to the inherent transparency of many blockchains, transactions that individuals broadcast via the CoinFlip Wallet may be publicly accessible. This includes, but is not limited to, your public sending address, the public address of the receiver, the amount sent or received, and any other data a user has chosen to include in a given transaction. Information stored on a blockchain may be public, immutable, and difficult or even impossible to remove or delete. Transactions and addresses may reveal information about the user’s identity and information can potentially be correlated now or in the future by any party who chooses to do so, including law enforcement. Users are encouraged to review how privacy and transparency on the blockchain works. 

Wallet Recovery Codes 

When you create a CoinFlip Wallet, you are given five “Wallet Recovery Codes”. The Company does not control any of your personal or private data on our servers, including your Wallet Recovery Codes. If you lose your mobile phone, tablet, or computer, and need to restore your CoinFlip Wallet, you can only do so with your Wallet Recovery Codes.  The CoinFlip Wallet is not a cloud-based solution.  If your device breaks, is lost, stolen, or has data corruption, there is no way for the Company’s support team to recover your CoinFlip Wallet for You.  Your Wallet Recovery Codes are the only way to recover your CoinFlip Wallet.  Anyone who has Wallet Recovery Codes and/or private keys could potentially send digital currency from your accounts. Never share them with anyone, including the Company. We will never ask for you to provide this. If someone claims that we do, insist on not sharing. Please report to us the person who claims to be a Company team member and asks for your Wallet Recovery Codes and/or private keys. 

Contact us: 

0800 447 756 [email protected] 

c/o – Computershare Governance Services, Level 2, Hurstmere Road, Takapuna, Auckland 0622, New Zealand. 

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