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BitBuy Terms of Use and Privacy

I. Object of the Agreement, Amendments, Definitions

§ 1 Subject of the Conditions of Participation and Use

(1) PEY GmbH (referred to as "PEY") provides the BitBuy app (referred to as the "app"), via which Bitcoin is licensed by the Bitcoin dealer of PEY for the duly registered participants. Further information on the services can be found in the service description, III § 1.

(2) The present conditions of participation and use govern the provision of the services by PEY and the use of these services by you as a duly registered participant.

(3) Information about PEY can be found here http://www.pey.de/impressum

§ 2 Amendments to the conditions of participation and use

PEY reserves the right to change these conditions of participation and use at any time with effect also within already registered registrations. We will notify you about these changes at least 30 calendar days before the planned entry into force of the changes. If you do not object within 30 days of receipt of the notification and the use of the services continues after the expiry of the period of opposition, the changes from the expiry date shall be deemed to have been effective. In the amendment, PEY will point you to your right of objection and to the consequences.

§ 3 terms

(1) Bitcoin is a worldwide available decentralized payment system and the name of a digital money unit. Transfers are handled by a network of computers over the Internet. The assets are stored in personal digital pamphlets. The market value of bitcoins is determined by supply and demand.

(2) Wallet is the name for the digital wallet or the virtual purse. It is comparable to a bank account which contains certain data, whereby payments can be made, but which itself contains no money. This is a digital keybinding, with which the participant proves that a certain amount of bitcoin belongs to it and is allowed to transfer it. The addresses for receiving payments are generated from these keys. The wallet contains the Bitcoin balance.

(3) The blockchain is a database in which all Bitcoin transactions are listed.

(4) Bitcoin-Core is the software which allows the electronic wallet to be encrypted and allows payments to be made.

(5) The bitcoin address is the pseudonym address to which the payments of the bitcoins take place. This is newly created for each participant.

(6) IDnow, as a partner of PEY, makes the verification of persons via video ident.

(7) Video-Ident is a video identification method for the legitimation of persons under the Money Laundering Act.

II. Registration for participation, handling of access data, termination of participation

§ 1 Registration authorization

(1) Use of the services available in the app requires your registration as a participant. There is no entitlement to participation. PEY is entitled to reject applications for participation without stating reasons.

(2) Registration is only permitted if you are full-time and unlimited in business. Minors persons are not allowed to register.

§ 2 Registration procedure

(1) Via the menu item "Register" you can register. A customer account is opened after the contact details and other information and legitimisation requested by IDNow.

(2) The contact details and other information requested during the registration process of PEY must be stated completely and correctly. You must have a valid email address that you can access and specify.

(3) After all data requested by you are checked by IDNow for completeness and plausibility. If your information is correct from the point of view of IDNow, PEY will clear your requested access and notify you via e-mail. The e-mail is considered as acceptance of your participation application. From the receipt of the email, you are entitled to use the app under these terms and conditions.

§ 3 Responsibility for access data

(1) During the registration process, you will be asked to enter a password. With these data, you can log in to the app after unblocking your access. The access data including the password must be kept secret by you and not made accessible to unauthorized third parties.

(2) It is further your responsibility to ensure that your access to your customer account and the use of the services available in the app is done exclusively by yourself or by the person authorized by you. If you are concerned that unauthorized third parties are aware or will be aware of your access data, PEY must be informed without delay. You are liable for any use and / or other activity carried out with your access data, according to the legal regulations.

§ 4 Updating the participant data

You are required to keep your information (including your contact details) current. If during the course of your participation a change of the indicated data occurs, you have to correct the information immediately in the app in your personal settings. If this does not work, please inform us immediately of your changed data by e-mail.

§ 5 Termination of participation

(1) You can terminate at any time by sending an email with your notice to support@pey.de.

(2) When the termination takes effect, the contractual relationship ends and you may no longer use your access.

III. Services and content in the app

§ 1 Switching performance

(1) As a duly logged-in participant, you can download from the App Store the app provided by PEY, which is software for brokering Bitcoin purchases. By running the process indicated in the app, storing your public key (your bitcoin address), Bitcoin can be mediated to your Bitcoin address.

(2) This stored bitcoin address is stored locally on your device and sent to PEY for mediation purposes. PEY passes this bitcoin address to the bitcoin dealer further with the payout instruction to you.

(3) According to your information made during the purchase, Bitcoins will be paid to your Bitcoin address in Euro within three working days by the bitcoin dealer Bitcoins. When purchasing, the Bitcoin course is considered at the time of the actual purchase by the Bitcoin dealer. In addition to the desired purchase price, PEY charges a fee. The amount of the fee can be found in the app.

(4) PEY has no access to your bitcoin balance.

(5) The purchase amount including the fee will be collected by PEY within 3 working days from the date of purchase by direct debit from your account.

§ 2 Blocking accesses

(1) PEY may suspend your access to Bitcoin's purchase temporarily or permanently if there are specific indications that you have breached or breached these Terms and Conditions and / or applicable law or if PEY has any other legitimate interest in the suspension , When deciding to block, PEY will properly consider your legitimate interests.

(2) In case of temporary or permanent blocking, PEY will block your access authorization and notify you via e-mail.

(3) In the event of a temporary blocking, PEY reactivates the access authorization after expiry of the blocking period and notifies you by email.

IV. Processing of your personal data

(1) One of the quality requirements of PEY is to deal responsibly with the personal data of the participants (this data is hereinafter referred to as "personal data"). The personal data resulting from your registration in the app as well as from the use of the available services are therefore only collected, stored and processed by PEY as far as this is necessary for the provision of services and is permitted by statutory provisions or by the legislature. PEY will treat your personal data confidentially and in accordance with the provisions of the applicable data protection law and will not disclose it to third parties.

(2) In addition, PEY will only use your personal data if you have expressly given your consent. You can revoke any consent you have given at any time.

(3) The Bitcoin dealer only knows and uses the Bitcoin address which you deposited and sent to PEY. This is a pseudonymous address, which does not allow any third party to draw conclusions about your personal data.

(4) The payment system Bitcoin consists, on the one hand, of a database, the blockchain in which all bit-code transactions are recorded. The Bitcoin payment system uses a peer-to-peer network (computer to computer) to which all participating computers connect using a Bitcoin core program. Bitcoin transactions are recorded in this Bitcoin network. The bitcoins are electronically passed between the participants. Each transaction of funds is provided with a digital signature and the blockchain is recorded in a public database, which is operated by the entire network-operated database. The chains of all transactions are public and are listed in transaction history. This is e.g. At https://blockchain.info/.

It is not possible to draw your personal data back.

(5) A falsification of units or transactions is not possible with the asymmetric cryptographic method used to generate and validate digital signatures with means available at the present time. Duplicate output of the same bitcoin is prevented by the proof-of-work method.

V. SEPA direct debit mandate

(1) You authorize PEY GmbH to collect payments from your account by direct debit. At the same time, you instruct your credit institution to redeem the direct debits drawn from your account by PEY GmbH.

(2) You may demand reimbursement of the debited amount within eight weeks, beginning with the debit date. The conditions agreed with your credit institution apply.

VI. liability

(1) PEY shall be liable only if your damage results from the use of the content and / or services used in the contract, and only in the case of intent (including fraudulent intent) Gross negligence of PEY.

(2) PEY shall not be liable in cases of slight negligence. In addition, the liability for damage caused by negligently is restricted to the damages that are typically expected to arise within the scope of the respective contractual relationship (damages which are foreseeable in terms of contract). This also applies to slightly negligent breach of duty by PEY's legal representatives, executive employees or simple vicarious agents.

(3) The above limitation of liability does not apply in the case of fraudulent intent, in the event of personal injury or damage to persons, the violation of guarantees or claims arising from product liability.

(4) You managed your assigned bitcoin address self-responsible. Your transferred bitcoins will be transferred to this address. The address and the corresponding wallet is therefore responsible for your own account against loss, spying and possible damage programs. PEY will not be liable for loss or spying on your wallet. If you lose the wallet and the keys contained in it, the associated bitcoins are lost both for you and for the entire network. PEY is also not liable for a wrongly stored bitcoin address, which has led to the loss of the bitcoins transferred to this location.

VII. Other provisions

§ 1 Written form requirement

Unless expressly stated otherwise in these Conditions of Participation and Use, all statements made in connection with the participation in Bitcoin purchase shall be made in writing or by e-mail.

§ 2 Applicable law

These Conditions of Participation and Use are subject to the laws of the Federal Republic of Germany under the exclusion of the United Nations Convention on Contracts for the International Sales of Goods (CISG).