Terms and Conditions

1. General

1.1. FIOR Digital only offers benefits to natural persons of legal age and only concludes contracts with these. A person who has completed the registration process (which is confirmed by FIOR Digital), has successfully registered a FIOR Digital account in accordance with point 3 of these terms and conditions and has already made a deposit to their customer account is referred to as “customer” below.

1.2. FIOR Digital only offers its services in Austria.

1.3. People in a country not supported by FIOR Digital, in particular people who have a US citizenship or reside in the United States of America, are not accepted as customers by FIOR Digital. Depending on the respective local legal framework, FIOR Digital reserves the right to exclude other countries from its services.

1.4. No persons are accepted as customers for whom the conclusion of a contract with FIOR Digital involves the operation of one or their company. For customers, i.e. for persons for whom the conclusion of a contract with FIOR Digital is not part of the operation of one or their company, the consumer protection regulations apply, in particular the provisions of the Austrian Distance and Foreign Transactions Act (hereinafter referred to as “FAGG” for short) and, as a subsidiary, the provisions of the Austrian Consumer Protection Act (“KSchG”).

2. Onboarding

2.1. Persons interested in using FIOR Digital services must register with FIOR Digital and create a customer account by providing FIOR Digital with valid, truthful and complete information (such as first and last name, home address, telephone number and email address) as part of the registration process.

2.2. To use FIOR Digital's trading options, the interested person must verify their account. The requirements and necessary steps in the registration process depend on current security requirements, in particular to combat money laundering, and may change from time to time, depending on legal frameworks and technical standards.

2.3. FIOR Digital reserves the right to request certain information and documents as part of the registration as a user and from time to time in the course of the business relationship, such as copies of official identity documents, including, if necessary, in notarized form and with an apostille. The interested person declares to support FIOR Digital in complying with regulatory requirements.

2.4. After successful registration, the interested person can log in via their customer account and use the FIOR Digital services. As soon as a credit has been deposited into their customer account for the first time, the interested person is regarded as a customer of FIOR Digital.

2.5. Unless otherwise agreed, the contract between FIOR Digital and the customer is concluded for an indefinite period of time.

3. Customer Account

3.1. The customer acts in his own name and for his own account and agrees to act only for himself and to open and use the customer account only for himself. It is prohibited to act as an agent, broker or trustee of any kind for third parties or to grant a third party access (in any form) to their customer account (e.g. by sharing password details or remote access software).

3.2. Customers may only make deposits to the customer account from bank accounts that are in the customer's own name.

3.3. FIOR Digital only allows one customer account per registered customer. Multiple accounts are prohibited. Should a second customer account be created in addition to the existing customer account, FIOR Digital reserves the right to block the second customer account. Assets stored in the secondary account are transferred from FIOR Digital to the customer's initial account, provided that the customer can prove to FIOR Digital's satisfaction (e.g. via the identification service) that he is the creator and owner of both accounts.

3.4. The customer must keep his personal data in his customer account up to date and correct. If his personal data (such as name, postal address, telephone number and e-mail address) changes, these must be updated immediately via a FIOR digital system or notified by e-mail to support@fior.digital. FIOR Digital will always use the email address last provided by the customer and the most recently announced postal address for communication. Declarations delivered to the customer's previous address are considered to have been received by the customer if FIOR Digital was neither (1) aware of a change of address nor (2) was not aware of such a change due to gross negligence on the part of FIOR Digital.

4. Termination

4.1. Ordinary termination: The customer and FIOR Digital can cancel the customer account and the entire business relationship at any time with a notice period of four weeks. The right of a customer who is a consumer to cancel free of charge as a result of an amendment to these terms and conditions remains unaffected. FIOR Digital will give the customer the notice of termination on paper or on another durable medium.

4.2. Termination for good cause: For important reasons, FIOR Digital or the customer may terminate the entire business relationship or individual parts of it with immediate effect at any time without notice. Important reasons include in particular (but not exclusively):

4.2.1. a violation of criminal, administrative and/or tax laws;

4.2.2. an order or request from a court or authority (e.g. FMA) that requires such termination;

4.2.3. the imposition of mandatory restrictive measures against a customer as part of national or international sanctions;

4.2.4. a breach of one of the obligations under these terms and conditions if, despite notification from FIOR Digital, the customer has not remedied this breach within 10 working days;

4.2.5. The customer uses the FIOR Digital systems in a way that causes FIOR Digital damage or loss and/or interferes with FIOR Digital services;

4.2.6. if BTC is classified as a financial instrument within the meaning of Directive 2014/65/EU at any time.

4.3. FIOR Digital reserves the right to block and/or block and/or block and/or close a customer account immediately and without further notice to the customer, temporarily or permanently (including blocking a transaction, rescinding a transaction or suspending a transaction). In these cases, FIOR Digital carries out an objective and factual examination to determine whether the suspicions are true.

4.4. Should it turn out that suspicion is justified in accordance with Section 4.3, FIOR Digital is entitled to terminate the business relationship with the customer with immediate effect and close the customer account for good cause without further notice.

4.5. If a transaction does not have to be carried out or rescinded for reasons within the sole control of the customer, FIOR Digital is entitled to withhold a processing fee of 5% of the settled amount (maximum of EUR 200) and a minimum amount of EUR 50 if the customer is at fault and insofar as these compensation fees are necessary to cover FIOR Digital's reasonable costs to deal with the alleged defect are. The customer is allowed to prove that no damage has occurred and therefore no or lower processing costs have been incurred.

5. Settlement after Termination

5.1. After termination of the business relationship, regardless of whether the termination has been made by FIOR Digital or the customer, the customer is obliged to withdraw all assets no later than the termination period. If the business relationship is terminated extraordinarily with immediate effect, there is no notice period and the customer must withdraw the assets immediately, unless no credit can be withdrawn due to money laundering regulations. The customer is informed by email that he must close all open positions and withdraw the assets from the customer account. Any deduction is subject to the prior full settlement of all outstanding claims.

5.2. Should the customer fail to comply with this obligation, FIOR Digital will ask the customer to withdraw all of its assets and funds after a further two months after the end of the notice period (”Transition period“). After the end of the transition period and after prior written information to the customer, FIOR Digital may:

5.2.1. sell the remaining assets at the prevailing market price and transfer the sales proceeds (after deducting all fees associated with the sale) to the customer bank account; and/or

5.2.2. Deposit the remaining assets with the court at your expense. The customer will be notified of such a deposit.

6. Purchase of Vouchers

6.1. FIOR Digital offers the issuance of vouchers against the acceptance of deposits in a legal fiat currency.

6.2. Vouchers are issued by FIOR Digital and offered exclusively for exclusive use within the FIOR Digital systems to exchange for BTC. Vouchers cannot be exchanged or transferred outside a FIOR digital system or between customers.

6.3. Vouchers are not based on distributed ledger technology, but represent an entry in a central FIOR Digital database. They are intended exclusively as auxiliary instruments to facilitate the quick and convenient purchase of BTC by customers and must never be considered or used as a deposit of any kind.

6.4. The customer must first deposit a balance in a fiat currency into his customer account, either by withdrawing a corresponding amount from his bank account by direct debit or by the customer transferring a corresponding amount to the FIOR Digital business account via SEPA bank transfer or standing order.

6.5. By depositing the balance in a fiat currency into his customer account, the customer acquires vouchers in the corresponding equivalent value. The voucher value is shown to the customer in the dashboard of their customer account.

6.6. The customer can have the vouchers paid out to their bank account at any time.

6.7. If the customer does not use a voucher to exchange it for BTC for an uninterrupted period of 365 days, FIOR Digital can after 365 days (”reference period“) charge an inactivity fee of 0.5% p.a. of the stored voucher value, but not more than the equivalent of EUR 5.00 per month.
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Whenever the customer makes a transaction using vouchers, the reference period is reset and starts running again on the day the transaction is carried out with vouchers.

7. Transactions

7.1. The purchase of BTC via FIOR Digital systems can only be processed in vouchers. As soon as the customer account shows a voucher value, the customer can make a binding purchase offer of BTC to FIOR Digital. In order to make such a binding offer, the customer must (1) provide all required data validly and correctly on the relevant FIOR Digital trading screen and (2) click the “Confirm” button (”Purchase offer“). The customer is shown an estimate of the expected amount of BTC in the purchase process. To clarify, any binding purchase offer by the customer is to be interpreted exclusively as a binding offer from the customer and qualified to accept receipt of BTC in return for payment of the amount of vouchers specified and displayed on the FIOR digital systems.

7.2. Sales on FIOR Digital can only be processed in vouchers. The customer keeps a BTC balance in his customer account and makes a binding sales offer from BTC to FIOR Digital. In order to make such a binding offer, the customer must (1) fill in all required data validly and correctly on the relevant FIOR Digital trading screen and (2) confirm the “Confirm” button (”Sales offer“). The customer is shown an estimate of the expected voucher value in the sales process. After a successful sale, the customer is shown the exact voucher amount in the dashboard of their customer account.

7.3. Purchase offer and sales offer are referred to together as”Transaction offer“referred to.

7.4. The minimum transaction amount must have an equivalent value of at least EUR 15.00 (according to the exchange rates used on the FIOR Digital systems).

7.5. The customer is bound to a transaction offer for a period of 24 hours (”Offer period“).

7.6. A transaction offer can either be accepted or rejected by FIOR Digital by actually fulfilling the offer within the offer period. The customer is informed that their transaction offer has been accepted or not accepted. Actual fulfillment means the irrevocable crediting of BTC or vouchers to the customer account. After a successful transaction, the customer is shown the exact amount of the purchase or sale in the dashboard of their customer account.

7.7. The order is processed and further information is transmitted via screen output in the app and also by e-mail.

8. Savings Plan

8.1. The customer can make recurring purchases via the FIOR systems or in the following”Savings plans“Create as follows: The customer makes a binding purchase offer for the regular and recurring purchase of vouchers and their exchange for BTC at the then applicable BTC market prices in exchange for a recurring payment of an amount specified by the customer in a fiat currency to FIOR Digital.

8.2. In order to make such a binding offer, the customer must (1) enter all required data in the FIOR Digital System in a valid and correct manner and (2) click on the “Confirm” button (”Savings plan offer“). The initial execution of the savings plan and the frequency of repetition are determined by the customer. At the time specified by the customer (e.g. on the 5th day of each month), FIOR Digital purchases BTC for the entire transaction amount at the current BTC market price from FIOR Digital through the savings plan, provided that payment has been received from the customer's bank account.

8.3. The savings plan offer can either be accepted or rejected by FIOR Digital by actually fulfilling the offer within the FIOR Digital offer period. The customer is informed that their savings plan offer has been accepted or not accepted.

8.4. Any recurring savings plan offer from the customer can be rejected by FIOR Digital. The rejection has no effect on the BTC that the customer has previously received under the savings plan.

8.6. SEPA direct debit mandate: By selecting the SEPA direct debit mandate as a payment method, the customer revocably grants FIOR Digital a SEPA direct debit mandate to collect payments due from the bank account specified by the customer. The initial set-up of a SEPA direct debit mandate can take up to ten calendar days from the transmission of the necessary data to FIOR Digital.

8.7. The time of debiting from the specified bank account may be up to ten calendar days before the recurring purchase date set by the customer. The customer will be notified of the payment amount and the withdrawal date by email after the payment has been successfully completed. The customer hereby also authorizes his banking institution to redeem direct debits. The customer's banking institution is also entitled to reject direct debits, in particular if the customer's account does not have the necessary funds.

8.8. The customer has the right to initiate a chargeback to his account within 56 calendar days (8 weeks) from the date of the debit without giving reasons (”Chargeback“). The conditions agreed with the customer's banking institution apply. Note: The claim due in accordance with the final price accepted and confirmed under the savings plan remains valid even if there is a chargeback.

8.9. The customer is required to ensure that his bank account is adequately covered by the due date. If collection via SEPA direct debit mandate is not possible (e.g. because the banking institution rejects or rejects the direct debit) and the customer is at fault for this, the customer bears all resulting costs (e.g. bank charges) insofar as they are necessary to cover reasonable administrative expenses. In addition, the customer authorizes FIOR Digital to make a direct debit again at a later date. The customer will be notified by email of the payment amount and the withdrawal date after the payment has been successfully completed.

8.10. standing order: By selecting the standing order as a payment method, the customer instructs his bank to transfer the specified amount to the FIOR Digital bank account when due.

8.11. Open orders must be paid within 14 days before FIOR Digital sends an email reminder. If no payment has been received after a total of 19 working days, FIOR Digital reserves the right to remind the customer in writing and to assign outstanding claims for collection or to cancel the order.

8.12. The customer can cancel the savings plan, the SEPA direct debit mandate and the standing order at any time. A revocation will be effective no later than two working days after your cancellation has been submitted. Please note that your SEPA direct debit mandate will still be executed even after the cancellation or an interruption, provided that the withdrawal or interruption takes place between the time it is withdrawn from your bank account and the recurring time of purchase. Please also note that the standing order with the bank must be terminated separately. If the standing order is not completed, the fiat amount will continue to be transferred to your customer account and an automatic exchange into BTC at the current BTC-Fiat exchange rate.

8.13. The customer accepts the BTC fiat exchange rate at the time of transaction. The current BTC-Fiat exchange rate can be viewed by the customer at any time on the FIOR Digital systems.

9. BTC Transfers to external Wallet Addresses

9.1. BTC can be sent from FIOR digital systems to external wallet addresses (”transmission“). In order to make such a binding offer for a transfer, the customer must (1) provide all required data validly and correctly on the relevant FIOR Digital trading screen and (2) the”confirming“Click on the button.

9.2. The transaction ID generated by the BTC network serves as irrefutable proof of the transfer of BTC to the wallet address added by the customer. This transaction ID is also sent to the customer's last email address as part of a delivery confirmation. The transaction is publicly available at the following Internet address: https://mempool.space.

9.3. The transfer is complete and cannot be undone as soon as the transfer appears on the BTC network. Once the transfer is confirmed, the FIOR Digital System no longer has any influence on the transmission. The transfer can only be completed with confirmation from the BTC network.

9.4. By sending BTC to the wrong wallet address or to the wrong network, your BTC is irretrievably lost. A transfer that has been made cannot be reversed.

10. Custom Price Order

FIOR Digital offers the customer the opportunity to buy a BTC from FIOR Digital at a maximum price set by the customer in advance (”Limit price order“) under the following conditions:

10.1. In order to trigger a limit price order on the FIOR digital systems, the customer sets an individual purchase price that is below the current price for BTC and, on the other hand, a specific amount of BTC to be purchased at the fixed price.

10.2. The customer can only trigger a limit price order if he has vouchers of the appropriate amount. In the event that the customer triggers a limit price order, the corresponding voucher amount will be withheld by FIOR Digital until the limit price order (i) executed (ii) cancelled or (iii) has expired. The customer cannot otherwise dispose of the fixed amount during this period.

10.3. The limit price order is executed by buying BTC either (i) at the selected price or (ii) below the selected price. It is clarified that the customer buys BTC directly from FIOR Digital and not via a stock exchange. At the time the limit price order is executed, the corresponding withheld voucher amount is debited from the customer account and in return BTC is purchased in the same value (minus fees). After successful completion of the limit price order, the customer will receive a notification from FIOR Digital in the customer account and by e-mail.

10.4. When placing a limit price order, the customer must set a period after which the order expires unless it has been executed (”Expiry period“). A day always ends 24 (twenty-four) hours after the order has been placed by the customer at 00:00 UTC. For example, if you set an expiration period of 7 (seven) days at 14:30 UTC on Monday, the limit price order expires at 00:00 UTC on the following Monday.

10.5. The customer has the option to cancel the limit price order placed by him at any time before it is executed on the FIOR Digital applications. FIOR Digital does not charge any fees for canceled limit price orders.

10.6. FIOR Digital reserves the right to cancel outstanding limit price orders in the event of suspicion of a reason for termination in accordance with point 5.2 of the terms and conditions. To the extent permitted by law, in such a case, the customer will receive a notification in his customer account and by email.

10.7. The triggering of a limit price order does not represent a price guarantee and the order may not be executed at the price desired by the customer due to the volatile market

11. Costs and Fees

11.1. Transaction fees: There is a FIOR Digital fee for buying and selling BTC. For more information on fees, see the following Articles about fees.

11.2. Transfer fees: FIOR Digital will be charged for processing the transfer ordered by the customer.

11.3. External charges: In addition, there may be external network, transfer or miner fees that are intrinsic to the blockchain and must be borne by the customer (”mining fees“). FIOR Digital cannot influence the amount and amount of external fees. The fee is influenced by factors that FIOR Digital cannot influence (such as the transaction volume in the Bitcoin network). The customer will be informed of the applicable fee before the purchase is confirmed. Any costs incurred by credit institutions (e.g. fees for transfers or booking lines) are borne by the customer.

11.4. FIOR Digital does not make a transaction from BTC if the Bitcoin mining fees are more than 10% of the transferred values. In this case, FIOR Digital waits until the customer makes additional transactions or transaction costs have dropped to below 10%.

12. Trust services and custody of BTC

12.1. In accordance with the following provisions, FIOR Digital will acquire the client assets economically belonging to the customer in BTC (”trust property“) manage in your own name but on behalf of the customer (”trust service“).

12.2. The customer appoints FIOR Digital as trustee of the trust property. The customer expressly entitles FIOR Digital to appoint further agents, agents, representatives or trustees to fulfill the obligations set out in this section 12. FIOR Digital never holds the private keys for the BTC purchased by customers. BTC is stored in central wallets by a third crypto custodian. FIOR Digital uses the partner Bitstamp Europe S.A. based in 40, avenue Monterey L-2163 Luxembourg, or BitGo Trust Company Inc., based in 6216 Pinnacle Place, Suite #l01, Sioux Falls, South Dakota 57108, United States, as the crypto custodian of the private and public keys of the trust BTC. (”Custodian“).

12.3. As trustee, the customer is always the beneficial owner of his trust property and FIOR Digital, in its function as trustee, is the civil owner of the trust property under Austrian civil law. FIOR Digital and the customer are bound by the following trust agreement (“trust agreement”):

12.3.1. The trust services — and thus the trust contract — are subject to the successful completion of the customer registration process and the other terms and conditions of these terms and conditions. In addition, trust services are subject to and limited by additional requirements notified to the customer upon or after the deposit of fiat money, such as providing evidence of the origin of the funds in accordance with anti-money laundering and terrorist financing regulations.

12.3.2. The trust consists of all BTC that is credited to your customer account as a direct result of a purchase of BTC processed via FIOR Digital systems.
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For clarification: All BTC that, for whatever reason, should be credited to the customer account (e.g. if sufficient proof of coverage is not provided) do not represent trust and are therefore not subject to the trust agreement.

12.3.3. The trust relationship is one-sided and, in its function as trustee, FIOR Digital keeps the trust property with the custodian at all times in the interest and for the account of the customer. FIOR Digital offers trust services to all its customers (i.e. FIOR Digital acts as a trustee for several customers at the same time) and is also allowed to hold or trade its own BTC. The customer hereby releases FIOR Digital from any restrictions on self-contracting and dual representation (in accordance with Section 1009 of the Austrian General Civil Code or otherwise) in connection with its function as FIOR Digital and the other services offered by it on the FIOR Digital systems.

12.3.4. Subject to the fulfilment of the above requirements, the trust contract starts on the day on which a (part of) BTC is assigned to the customer account and is concluded for an indefinite period of time. The trust contract automatically ends as soon as the entire trust has been withdrawn from the customer account.

12.3.5. The quantity of trust assets that FIOR Digital manages for each customer is displayed via the FIOR Digital systems. FIOR Digital is committed to protecting trust assets to the extent that can be handled technically in FIOR Digital systems. However, FIOR Digital is not required to hold client assets in a particular form or in a specific system.

12.3.6. The customer retains control of all customer assets displayed in their customer account and — subject to the conditions and restrictions set out in these terms and conditions — can dispose of the trust property at any time, for example by transferring them to a wallet address outside the FIOR Digital systems. FIOR Digital will then issue a corresponding order to the depositary.

12.3.7. The purpose of the trust agreement is to create a legal framework for the technical services offered by FIOR Digital relating to client assets. In its capacity as trustee, FIOR Digital does not act as an asset manager, investment advisor, portfolio manager or in a similar capacity and — subject to mandatory legal requirements, court decisions or judgments or comparable instructions from authorities binding on FIOR Digital — does not actively participate in transactions and does not make any observations or inquiries regarding the trust assets.

12.3.8. As the beneficial owner of customer assets, the customer bears the entire risk of loss (in actual, legal and/or economic terms) of these customer assets, in particular any of the risks mentioned in point 16 of these terms and conditions. Any liability of FIOR Digital arising from or in connection with FIOR Digital trust services is limited in accordance with point 15 of these terms and conditions.

12.4. As long as a person is a FIOR Digital customer, the use of trust services is free of charge. However, if a person is no longer a customer and refuses to withdraw their assets within a period of 14 days after termination of the contractual relationship, FIOR Digital is entitled to charge fees of 0.1% of the value of the trust assets held in custody, but a maximum of EUR 30.00 per month for using the trust services. These fees apply in addition and independently of any other fees that are expressly agreed in other points of these terms and conditions.

13. FIOR Digital Voucher

13.1. FIOR Digital offers the purchase of a FIOR Digital voucher in exchange for redemption of vouchers (hereinafter”voucher“).

13.2. The customer (”submitter“) can purchase a voucher from FIOR Digital and instructs FIOR Digital that the voucher amount (”Voucher amount“) is deducted from his voucher balance as soon as the voucher is received by another customer (”transceivers“) is redeemed. After the sender has confirmed the purchase of the voucher by clicking on the corresponding button, he instructs FIOR Digital to block the voucher amount on his voucher balance. This blocking will be lifted as soon as the voucher has not been redeemed within 90 days of the date of issue or if the sender cancels the voucher via FIOR Digital before the recipient redeems the voucher. When the recipient redeems the voucher, the voucher amount is deducted from the sender's voucher balance.

13.3. The sender must have sufficient voucher credit in his customer account at the time the voucher is created or purchased.

13.4. The voucher can only be redeemed at FIOR Digital.

13.5. As soon as the recipient redeems the voucher with FIOR Digital, FIOR Digital purchases BTC for the entire voucher amount at FIOR Digital's current market price, minus the FIOR Digital fees (see point 11).

13.6. Both sender and recipient must be FIOR Digital customers with active accounts without active restrictions. If the recipient is not a FIOR Digital customer, they must open a fully verified and active account with FIOR Digital before they can redeem the voucher.

13.7. The maximum voucher amount and the number of vouchers that a sender can purchase or a recipient can receive may be subject to restrictions due to legal or regulatory requirements or for other factual reasons, which FIOR Digital determines and can change at any time. Changes will be notified to customers with a reasonable lead time and will have no effect on vouchers that have already been purchased.

13.8. A voucher is not reloadable and is valid for 90 days from the date of issue. After the period of validity of the voucher has expired, the sender of the voucher will be credited back to his customer account, provided that the voucher has not been redeemed.

14. Right of Withdrawal

14.1. In accordance with § 11 FAGG, the customer has the right to withdraw from a concluded contract within 14 days of the respective conclusion of the contract without giving reasons. The 14-day cancellation period begins at the time the contract is concluded and the order is executed. In order to exercise his right of withdrawal, the customer must inform FIOR Digital that he is withdrawing from the contract by means of a clear statement (e.g. a letter sent by post or email). The consumer customer can use the attached sample withdrawal form (see Appendix: Withdrawal Form) for this purpose, but is not obliged to do so. In order to meet the withdrawal period, it is sufficient for the customer to send the notification of the exercise of the right of withdrawal before the deadline has expired.

14.2. If the customer withdraws from his contract, FIOR Digital must repay the customer all payments received immediately and at the latest within 14 days from the day on which FIOR Digital was notified of the withdrawal or revocation. For the repayment, FIOR Digital uses the same means of payment and the customer's bank account for the repayment that the customer used for the original transaction, unless something else has been expressly agreed with the customer. Under no circumstances will the customer be charged fees as a result of this repayment.

14.3. The customer has no right of withdrawal for BTC purchased at a distance, as their price depends on fluctuations in the financial market, over which FIOR Digital has no influence and which may occur within the withdrawal period (§ 18 para. 1 Z 2 FAGG).

15. Disclaimer

15.1. In principle, FIOR Digital is only liable to customers for damage caused intentionally or through gross negligence by FIOR Digital or one of its vicarious agents. In cases where damage was caused by slight negligence, FIOR Digital is only liable:

15.1.1. in cases of personal injury,

15.1.2. for damage to objects accepted for processing, as long as nothing else has been agreed in detail with the customer with regard to damage to objects accepted for processing,

15.1.3. for damage due to the lack of guaranteed features,

15.1.4. in accordance with the Product Liability Act, and

15.1.5. for damages due to the breach of an essential contractual obligation (cardinal obligation), if the damage was reasonably foreseeable for FIOR Digital when the contract was concluded. A cardinal obligation is an obligation which makes the proper performance of the contract possible in the first place and whose compliance the user regularly trusts and may rely on. This includes the purchase and sale of BTC and the obligation to store, manage or secure values for the customer on FIOR digital systems.

15.2. Claims for damages cannot be made by a customer in the fact that FIOR Digital delayed or did not carry out a transaction in accordance with Section 19 FM-GwG due to negligent ignorance that the suspicion of money laundering or terrorist financing or the suspicion of a violation of the obligations described in point 3.1 (acting on one's own behalf) was wrong.

16. Risks

16.1. Using the services offered by FIOR Digital involves risks which, in the worst case scenario, can lead to a total loss of investments. These risks include, but are not limited to, the following:

16.1.1. The value of BTC can fluctuate and there is no guarantee that the value of BTC will rise compared to legal currencies such as the euro.

16.1.2. The technology of cryptocurrencies, virtual currencies, digital assets and other assets based on cryptographic technology as well as the underlying software applications and software platforms such as smart contract systems and other involved software and technology as well as technical concepts and theories are still in an early stage of development, are untested and are beyond the control or influence of FIOR Digital.

16.1.3. FIOR Digital manages FIOR Digital systems with the necessary care. Nonetheless, systems for exchanging fiat money and virtual currencies combine various new experimental technologies and it is very likely that interruptions, errors, and other issues will occur.

16.1.4. Planned maintenance, updates or upgrades, which not only temporarily restrict the functionality of the FIOR Digital systems or lead to their failure, will be notified to the customer in good time in advance in an appropriate manner (e.g. by e-mail). Such maintenance work is carried out as quickly as possible, but at least within two weeks. Unplanned maintenance work, which is necessary due to technical defects or force majeure, is carried out as quickly as possible.

17. Data Privacy

17.1. When providing its services, FIOR Digital complies with the requirements of the GDPR and Austrian Data Protection Act.

17.2. For detailed information on data protection, please refer to FIOR Digital's privacy policy, which is available at https://21bitcoin.app/datenschutz/can be viewed.

18. Refer a friend Program

18.1. FIOR Digital offers the customer to participate in a “refer a friend program” (hereinafter”programme“). The program is run by FIOR Digital exclusively on the mobile application operated by FIOR Digital (hereinafter”21 bitcoin“) offered and carried out. The program is offered until further notice and can be terminated or adjusted at any time without notice. Changing or terminating the program has no effect on benefits already received.

18.2. Scope and requirements of the program:

18.2.1. A customer can participate in the program by using their personal referral code, which they receive from FIOR Digital (hereinafter”Referral code“), to a person who is not yet a customer (hereinafter”invited person“), transmitted. The customer only receives a referral code if he has unrestricted access to his active FIOR Digital customer account.

18.2.2. The customer and the invited person must be a natural person, have successfully completed the customer registration process and have complied with all other provisions of the FIOR Digital Terms and Conditions.

18.2.3. Customers and invited persons residing in certain jurisdictions or countries may be excluded from participating in the program, e.g. for legal and regulatory reasons.

18.2.4. The invited person must not have already registered to open a FIOR Digital customer account or be a customer before.

18.2.5. Each invited person can only use one referral code. A combination of two or more referral codes is not possible.

18.2.6. Participation in the program is voluntary and free of charge for the customer and the invited person (s).

18.2.7. The customer and the invited person cannot be the same person.

18.2.8. The customer who makes the recommendation must ensure that the invitation is only sent to people who agree to receive it.

18.3. Program benefits and special conditions:

18.3.1. The current conditions can be found under [link].

18.3.2. The invited person receives a reduction in trading fees on specific BTC purchase requirements. The fee reduction is 0.2% of the FIOR Digital basic fee for buying BTC.

18.3.3. The advertising customer receives a bonus when the invited person makes certain purchases of BTC via 21bitcoin. The reward is a fixed percentage of the net income that FIOR Digital earns when the invited person makes a purchase of BTC. The reward is 21% of the net income that FIOR Digital receives from the invited person.

18.3.4. The conditions and discounts of the program can be adjusted or terminated by FIOR Digital at any time and without notice.

18.4. Reward crediting:

18.4.1. Each premium is charged to the customer to a temporary and separate digital FIOR Digital customer account (”Rewards account“).

18.4.2. The premium (s) will be credited to the premium account starting from an accumulated premium amount of EUR 15.00 and will be credited no later than the following month in which the minimum amount of the credit note was exceeded.

18.4.3. As part of the refund, the reward (s) are converted into BTC and credited to the customer in their FIOR digital wallet. The EUR/BTC exchange rate and the FIOR Digital base fee apply for the purchase of BTC at the time the premium is credited.

18.4.4. If the credit note is below the minimum amount of EUR 15.00, the customer is not entitled to any credit or premium. If the premium does not reach the minimum amount of EUR 15.00 within 360 days, the claim to the premium expires.

18.4.5. The maximum premium that a customer can achieve within 360 days is EUR 450.00. Any further claims expire.

18.4.6. The bonus is credited subject to the customer having an active FIOR Digital customer account at the time of crediting and that this has not been blocked, suspended or closed.

18.4.7. Depending on tax laws, rewards from the program are taxable by the customer in the respective country in which the customer has his tax residence.

18.5. Prohibited conduct:

18.5.1. The customer may only use the referral code for private purposes and not for commercial activities, in particular not for paid promotional campaigns such as online advertising. In addition, customers are not allowed to publicly distribute them on websites, in particular on blogs and voucher websites, which are primarily used to collect rewards. The customer is prohibited from sending mass emails, short messages, or messages to people the customer does not know, or from using automated systems or bots to distribute the referral code.

18.5.2. FIOR Digital may refuse the participation of customers and invited persons for factual reasons. FIOR Digital reserves the right to refuse payment of bonuses or to claim them back if FIOR Digital detects an action by the customer that is abusive or violates the general conditions of participation or general terms and conditions.

18.5.3. The customer participates in the program on his own behalf and for his own account. Any action on behalf of or for FIOR Digital is prohibited (e.g. sending messages on behalf of or for FIOR Digital to persons, publishing postings or publishing statements on behalf of FIOR Digital, editing FIOR Digital logos, trademarks or other material, and promoting discounts for FIOR Digital services (with the exception of discounts published by FIOR Digital itself).

18.5.4. The customer is prohibited from using pay-per-click (PPC) or search engine marketing (SEM) methods, including but not limited to: Google Adwords, Bing Ads if (1) is advertising on behalf of FIOR Digital and users are directed directly to FIOR Digital systems, the promoter's website or another website of a third party as a result of this paid advertising, (2) on FIOR Digital brand terms, including all forms of spelling and typing errors, (3) FIOR digital brand terms, including all spelling and typing errors are used in paid ad texts and/or images, or (4) competes directly with FIOR Digital advertisements to be displayed on search results pages.

19. Changes to these Terms

19.1. Amendments to these terms and conditions relating to essential service content or fees require the express consent of the customer. This concerns changes which (1) relate to one of the main performance obligations, i.e. all changes or additions to the customer's payment obligations as well as restrictions on the purchase and sale of Bitcoin, or (2) significantly change the contractual relationship in a way that amounts to the conclusion of a new contract.

19.2. Editorial or other changes to these terms and conditions will be notified to the customer with reference to the specifically amended clauses in the 21bitcoin app or by email. If the customer does not object to the changes in writing or by e-mail within one month of notification, the customer is considered to have given consent to the changes. In the offer of change, the customer is informed that (1) his silence by failure to make a written or electronic objection within the specified period is considered consent to the changes and that (2) the customer — if he is a consumer — has the right to cancel his contract and the contractually agreed services without notice until the changes come into force.

19.3. Editorial changes are changes to clarify unclear provisions, adjustments to formats or fonts, insofar as this does not result in a significant change in accordance with point 19.1 of these terms and conditions.

19.4. Other changes that do not qualify as significant changes may, at FIOR Digital's reasonable discretion and provided that a risk assessment has been made taking due account of the interests of FIOR Digital or of all FIOR Digital customers against the interests of the individual customer, only for good reason, i.e.

19.4.1. due to the offer of new services which are either free of charge or cannot be used by the customer or can only be used as an option;

19.4.2. provided that there are no disadvantages for the customer;

19.4.3. due to civil, regulatory or tax law requirements;

19.4.4. due to changes in service providers or contractors;

19.4.5. to change or implement ancillary obligations; or

19.4.6. There is a reason comparable to the reasons given.

20. Other

20.1. FIOR Digital has the right to share and disclose all information and data relating to customers and customer accounts (including any transactions made in the past) when requested by a competent court, a public prosecutor and/or a government, banking, tax or other supervisory authority or similar official body. FIOR Digital reserves the right to cooperate with these authorities and official bodies as far as possible.

20.2. Applicable law: These terms and conditions and any transaction that falls hereunder are governed by Austrian law to the exclusion of the conflict of law rules of Austrian private international law. The application of UN sales law is excluded. For customers who are consumers within the meaning of the Consumer Protection Act, this only applies to the extent that the law of their country of residence does not give them a more favourable legal position vis-à-vis FIOR Digital in individual cases. 

Appendix I: Definitions

In the terms and conditions, the following terms have the meaning given in the following overview and apply equally in singular and plural form.

Appendix II: Withdrawal form

(If you want to cancel the contract, please fill out this form and send it back)

- To FIOR Digital GmbH, A-5020 Salzburg, Rottweg 66, email support@fior.digital

- I hereby cancel the contract I have concluded for the provision of the following service:
- Ordered on:
- Name of consumer:
- Consumer's address:
- Consumer's signature (only if this form is submitted on paper):
- Date