When you add funds to your account (otherwise known as the “top up” function), either by credit card or wire transfer or by any other means, you are digitising your assets by purchasing a digital currency called “Quantum Coin” (“Quantum”) or Bitcoin, as selected (collectively herein, the “Coins”). When you add funds by wire transfer or credit card, an automated process routes the order to our service provider Bitnuk AG where the Coins are purchased. After purchase, your Coins are held in a secure wallet operated by Bitnuk and, for Quantum, held in a wallet is developed by Quantum Clearance with the value reflected in the “Quantum Assets” wallet.
Conversely, when you wish to withdraw from your Quantum Assets’ section to your external bank account, or to your internal IBAN or State Of Cards prepaid debit card, etc., an automated process routes the order to Bitnuk, where the Quantum Coins are sold and the Fiat is transferred to the relevant account. Quantum can be used similar to fiat currency to top up your State Of Cards prepaid debit card, to purchase other cryptocurrencies, or to send money to other users and for all other functions available in the Platform. When you wish to withdraw your Quantum Assets, to your external bank account, a sell order is automatically routed to Bitnuk where the Quantum is sold and the proceeds sent to your bank via wire transfer. These functions are all carried out in an automated, seamless and virtually instantaneous process. All withdrawals will be sent to your bank account from Bitnuk.
Unlike most currencies that are backed by governments, other legal entities, or commodities such as gold or silver, Quantum Coins are a unique type of digital currency, backed by technology and trust. There is no central bank that can issue more currency or take corrective measures to protect the value of Quantum Coin in a crisis. Moreover, there is no guarantee that Bitnuk or any other cryptocurrency liquidity provider will purchase your Quantum Coins when you wish to sell them, or that they will maintain their value in relation to any fiat currency. See “Risk Warning” below, with more information on the risks of trading cryptocurrencies like Quantum Coin.
The trading of goods and products, real or virtual, as well as virtual currencies involves a significant risk. Prices can and do fluctuate on any given day. Such price fluctuations may increase or decrease the value of your assets at any given moment. Any currency, virtual or not, may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling, or trading anything on a market.
Trading cryptocurrencies also has special risks not generally shared with official currencies, goods, or commodities in a market. Unlike most currencies that are backed by governments, other legal entities, or commodities such as gold or silver, cryptocurrencies are a unique type of Internet digital currency, backed by technology and trust. There is no central bank that can issue more currency or take corrective measures to protect the value of cryptocurrencies in a crisis.
Instead, cryptocurrecies are an as-yet autonomous and largely unregulated global system of firms and individuals. Traders put their trust in a digital, decentralised, and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.
The trading of cryptocurrecies is often susceptible to irrational bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in cryptocurrecies because of unexpected changes imposed by software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling.
Limited Right of Use
Unless otherwise specified, all Materials on this Site are the property of NSS and are protected by copyright, trademark, and other applicable laws. You may view, print, and/or download a copy of the Materials from this Site on any single computer solely for your personal, informational, and/or non-commercial use, provided you comply with all copyright and other proprietary notices.
The trademarks, service marks, and logos of SOC, including but not limited to “State Of Cards ” and others used in this Site (“Trademarks”) are the property of NSS and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this Site belongs to NSS. The Trademarks and Materials should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected, or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorised use may violate copyright, trademark, and other applicable laws, and could result in criminal or civil penalties.
Maintaining Your Account: Our Rules
The creation or use of Accounts without obtaining prior express permission from SOC/NSS will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software, or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and SOC/NSS may elect to take further action against you.
You are also responsible for maintaining the confidentiality of your Account information, including your password, and safeguarding your account and all activity including Transactions that are posted to your Account. Cryptocurrency transactions are irreversible once sent, so be sure to carefully confirm the receiving address before initiating a Bitcoin transaction. Any actions on the Site, transactions, orders and operations initiated from your Account or using your password (1) will be considered to have been made by you, and (2) is irrevocable once validated using your password or made through your Account. If there is suspicious activity related to your Account, we may, but are not obligated to, request additional information from you, including authenticating documents, and freeze any transactions pending our review. You are obligated to comply with these security requests or accept the termination of your Account. You are required to notify SOC/NSS immediately of any unauthorised use of your Account or password, or any other breach of security, by email to firstname.lastname@example.org The account of any Member who violates these rules may be terminated and the Member held liable for losses incurred by SOC/NSS or any user of the Site.
Lastly, you agree that you will not use the Service to perform criminal activity of any sort, including but not limited to money laundering, illegal gambling operations, terrorist financing, malicious hacking or any criminal or illegal activity. The minimum allowable buy or sell is EUR 5.
Our fees charged can be found on each respective function page.
VERIFICATION OF ACCOUNTS
For IBAN Opening
Availability of Services
All services are provided without warranty of any kind, either express or implied, and in particular without implied warranties of merchantability and fitness for a particular purpose. We do not guarantee that this Site will be available 100% of the time to meet your needs. We will strive to provide you with the Service as soon as possible, but there are no guarantees that access will not be interrupted or that there will be no delays, failures, errors, omissions, or loss of transmitted information.
APIs and Widgets
We may provide certain parties with access to specific data and information through our API (Application Programming Interface) or widgets. We also may provide widgets for your use to enter our data on your Site. You are free to use these in their original unmodified and un-altered state.
NSS makes no representations whatsoever about any external or third-party website you may access through the Site. Occasionally, the NSS website may provide references or links to other websites (“External Websites”). We do not control these External Websites or third-party sites or any of the content contained therein. You agree that we are in no way responsible or liable for the External Websites referenced or linked from the SOC/NSS website, operating as State Of Cards/NORTH STAR SWISS including but not limited to website content, policies, failures, promotions, products, opinions, advice, statements, prices, activities and advertisements, services, or actions, and/or any damages, losses, failures, or problems caused by, related to, or arising from those sites. You shall bear all risks associated with the use of such content.
Disclosures to Legal Authorities and Authorized Financial Institutions
We may share your Personal Data with law enforcement, data protection authorities, government officials, and other authorities when:
Required by law;
If we hold cash or crytocurrency, and we are unable to contact you and have no record of your use of the SOC Services for several years, applicable law may require us to report the cash or crytocurrency as unclaimed property to the authorities in certain jurisdictions. We will try to locate you at the address shown in our records, but if we are unable to, we may be required to deliver any such cash or crytocurrency to the authorities in certain jurisdictions as unclaimed property. We reserve the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
Limitation of Liability
Subject to the foregoing, the aggregate liability for claims against SOC/NSS based on events arising from or in connection with any single Member’s use of the Site and/or Service, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held on Account for the Member making a claim less any amount of Commission that may be due and payable in respect of such Account; or (b) 100% of the amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).
Your use of the Service is at your sole risk. The Service is provided on an “AS IS” and “AS AVAILABLE” basis. The Service is provided without warranties of any kind, whether express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, non-infringement or course of performance.
NSS its subsidiaries, affiliates, and its licensors do not warrant that a) the Service will function uninterrupted, secure or available at any particular time or location; b) any errors or defects will be corrected; c) the Service is free of viruses or other harmful components; or d) the results of using the Service will meet your requirements.
Modification of Terms
Bitcoins. The Peer-to-Peer Internet digital currency further described at Bitcoin.org. Cryptocurrecies. All digital currencies, including but not limited to Bitcoin. Buyer(s). Member(s) that are submitting an offer to buy cryptocurrency through the Service. Commission or Fee. Refers to the fee which is payable to NSS on each Transaction, such as a buy or sell of cryptocurrency. You can review our Fees on our Fees page. Member(s). Refers to Buyers and Sellers as well as any holder of an Account.
Personal Data. Information that identifies an individual, such as name, address, e-mail address, trading information, and banking details. “Personal Data” does not include anonymised and/or aggregated data that does not identify a specific user.
Price. The “price per coin” for which Members are willing to purchase or sell cryptocurrecies, using the Service in a purchase or sell transaction. The Price may be expressed in any of the currencies deposited by Members in their Account and supported by the Service. See our Site for a full list of currencies.
NSS may not offer currencies other than Euros at this time. Seller(s). Member(s) that submit an offer to sell cryptocurrecies through the Service. Service(s). The technological platform, functional rules, and market managed by SOC/NSS. to permit Sellers and Buyers to purchase and sell cryptocurrecies. Transaction. Includes the following: The action between the Member to Buy and/or Sell cryptocurrencies through the Service for currencies at the then-current market rate. The transfer of cryptocurrencies between Members (“Transfer Transaction”); The transfer of currencies among Members (“Currency Transfer Transaction”); and NSS may not offer all these transaction types at this time. NSS may not offer all these transaction types at this time. Transaction Price. The total price paid by the Buyer for each Transaction performed through the Service.
Unencrypted email messages sent over the Internet are not secure and SOC/NSS is not responsible for any damages incurred as a result of sending email messages in this way. We suggest existing Members always log in to the SOC/NSS site and use the internal support messaging system by clicking “Support” in the footer menu or, for non Members, always send email in encrypted formats. You are welcome to send encrypted emails to us. The instructions and keys to do so are available upon request. Please never send us or anyone else your password by email.
If you send unencrypted or unsecured email or other types of communications to us, we may respond using the same channels and you hereby accept the risks associated therewith. SOC/NSS will never contact you from an email account that does not end with @stateofcards.com If anyone, including a person that you know to be associated with NSS ever contacts you via email with an address that does not end with @stateofcards.com please notify our compliance department at email@example.com or via the form in our website.