Cryptocurrency Kiosk Terms of Service
Updated: 31 January 2024
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.
Please read these Terms of Service carefully, which contain important information regarding your legal rights, remedies, and obligations.
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 Australian 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 Services’ 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 and 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 does not hold an Australian Financial Services Licence 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.
The Company is not a provider of cryptocurrency wallets. In order to access our Services, you may be required to use a cryptocurrency wallet provided by a third party. 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 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 Services. 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 Customer will only use a wallet owned by Customer to conduct transactions using the Services and will not use the Services to send cryptocurrency to or from a third party.
Customer Eligibility to Use the Service
In order for us to meet our obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and associated Rules (the “AML/CTF obligations”), we are required to obtain, verify and record information that identifies each 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 subsequently, we may ask for your name, address, date of birth, information about the 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. 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/CTF 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 Service. 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 an Australian based Customer and that your cryptocurrency wallet is located in Australia.
This is an individual account. You may not jointly own or share your account with any other person for any reason. 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 that person permits you to do so. You may not assign or transfer your account or any interest in your account to any other person.
A Customer’s account is tied to the Customer’s mobile phone number and identification. A Customer may only be able to access the Services 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 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 Service. 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 1300 689 526 if you believe someone else is using your account or your account security has been compromised.
Transactions and Limitations
Subject to these Terms of Service and specific Kiosk capability, the Service is designed to allow you to purchase and sell cryptocurrency at any Kiosk location owned by the Company. You must be physically
present at a Company owned and operated Kiosk in order to conduct a transaction. You may not use or access the Service or your Company account at any ATM, Kiosk, or other location that is not owned and operated by the Company. The Service of purchasing and selling cryptocurrency at a Company owned Kiosk is not accessible via the Internet.
Transactions may be made only in Australian Dollars and the cryptocurrencies supported by the Company. Supported cryptocurrencies may change from time to time.
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 Service (“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 reasonable 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.
You agree that 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 program to ensure that our fees are low. 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 1300 689 526. To take advantage of this program, 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.
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:
I. your instructions are contrary to the terms applicable to you and the terms of any third party provider we use;
II. the transaction request is unexecuted due to any act or omission of any third party;
III. your instructions are ambiguous or incomplete;
IV. your instructions would result in a breach of the law;
V. your order may need to be manually vetted.
You agree not to use the Service 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 Service or violate these Terms of Service. Suspicion of using the Service 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 Service; whether this suspicion is warranted is exclusively within the absolute discretion of the Company.
You agree to respond to all inquiries 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.
If for some reason you are not able to use our Kiosk because of a disability, please call our 24 hour a day Customer service at 1300 689 526 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.
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 authorise us to send communications to the contact information you provided to us. 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 email. 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 states 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 and transactions and, until such
time that you notify us otherwise, we have your permission to contact you for marketing 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 may change these preferences by calling us at 1300 689 526 or emailing [email protected] or by using the unsubscribe function provided in each of our SMS to no longer receive marketing communications from us. We may, where appropriate, continue to communicate with you for transactional purposes or other information relevant to your account.
You are responsible for promptly notifying us of any change to any of your contact information or your name. In some instances, we may request additional information for verification purposes.
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.
Limitation of Liability
TO THE EXTENT PERMITTED BY LAW (INCLUDING THE AUSTRALIAN CONSUMER LAW CONTAINED IN SCHEDULE 2 OF THE COMPETITION AND CONSUMER ACT 2010 (CTH) (ACL)), THE COMPANY EXCLUDES ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED (NOT INCLUDING ANY CONSUMER GUARANTEES UNDER THE ACL), 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 ACL), WE DO NOT WARRANT THAT YOU WILL HAVE CONTINUOUS ACCESS TO THE SERVICES.
To the extent permitted by law (including the ACL), 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, an “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:
(i) any defect in our computer systems, or any delay, fault, failure in or loss of access to the Service;
(ii) if an order is filled prior to us receiving and processing a cancellation or amendment, you will accept the transaction on the original terms;
(iii) telecommunications failure, delay, or interruption of or defective network or internet connections or services by a third party;
(iv) your incorrect operation of the Services;
(v) inaccuracy, error or omission in any material, data or information provided by you or any other third party through the Services;
(vi) actions of third parties in respect; or
(vii) any delay, interruption, omission, failure, error or fault in the execution of your instructions provided through the Service.
You acknowledge that an account may be suspended for any reason and you 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 ACL and notwithstanding any other provision of these Terms of Service, we will not be liable to you for:
i. any damage, loss or expense resulting from or caused by:
a. 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);
b. 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;
c. fluctuations in the value of cryptocurrencies;
d. any act or omission of any third party;
e. any inaccurate or incorrect information from third parties;
f. any inaccurate or incorrect information in your content or otherwise provided by you;
g. any event or circumstance beyond our reasonable control including, without limitation, a Force Majeure Event;
h. any breach of these Terms, negligence, default, fraud or dishonesty by you; and
ii. 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.
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 Service.
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, 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.
If you are accessing these terms by way of the Company website, the following shall apply:
These terms are governed by and must be construed in accordance with the laws of the State of Victoria, Australia. You submit to the exclusive jurisdiction of the courts of that State and the Commonwealth of Australia in respect of all matters arising out of or relating to these Terms, their performance and subject matter.
If you are accessing these terms by way of a Kiosk, the following shall apply:
These terms are governed by and must be construed in accordance with the laws of the State in which you reside, within Australia. You submit to the exclusive jurisdiction of the courts of that State and the Commonwealth of Australia in respect of all matters arising out of or relating to these Terms, their performance and subject matter.
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.
The Company and Indemnified Parties are always interested in resolving disputes amicably and efficiently, and most Customer concerns can be resolved quickly and to your satisfaction by emailing Customer support at [email protected]. If such efforts prove unsuccessful, a party who intends to seek arbitration must first send to the other, by certified mail, a written Notice of Dispute (“Notice”). The Notice to the Company or Indemnified Party should be sent to Layer 8 Networks, Attn: Legal Department, Suite 3 / 476 Canterbury Rd, Forest Hill VIC 3131 (“Notice Address”). The Notice must (a) describe the nature and basis of the claim or dispute and (b) set forth the specific relief sought. You may not commence proceedings in relation to these Terms of Service or our Services more generally unless you have complied with the process in this clause (unless proceeding are initiated to seek interlocutory relief or to avoid the expiry of a limitation period for a cause of action).
1300 689 526
Suite 3 / 476 Canterbury Rd, Forest Hill VIC 3131