As used herein, "Wunderbit" refers to the company Wunderbit OÜ, including without limitation thereby, its owners, directors, investors, employees or other related parties. Wunderbit OÜ is a company with limited liability, incorporated under the laws of Estonia. Depending upon context, "Wunderbit" may also refer to the Services, products, Site, content or other materials (collectively, "Materials") provided by Wunderbit.
A Wunderbit Account ("Account" or "Accounts") is an Account held by an "Account Holder" with the specific objective of exchanging digital currency (like bitcoin) and fiat currency through the Wunderbit platform.
By Creating an Account to use the Wunderbit Services, Account Holders represent and warrant:
You can buy bitcoins in a few minutes and sell bitcoins after creating a Wunderbit account. Wunderbit works with accounts to provide you with additional security. It also gives you a 'one-click' ordering method, which speeds up the process and helps to avoid errors. Your account is only used for these purposes.
A new Account can be created by any natural person with an e-mail address. A personal information, ID, Bitcoin wallet and a Euro bank account in the Single Euro Payments Area (SEPA) will be needed to activate an Account, other information mentioned in AML policy can be required as well. Before an Account is activated it will be validated by Wunderbit.
· Wunderbit reserves the right to change the buy and/or sell limits on your Account as we deem necessary.
· Account Holders are responsible for maintaining the confidentiality of their Account information and for all activity including Transactions that occur under their Account.
· Account Holders agree to provide Wunderbit with accurate, current and complete information as prompted by the Create Account process.
· The Account Holder provides the IBAN bank account number on which Wunderbit can payout the Bitcoins that are sold.
· Account Holders also provide the bank statement from the bank account to assure Wunderbit can transfer the payout to their bank account.
· Account Holders will provide one of their wallet Bitcoin addresses to Wunderbit where Wunderbit can send or return Bitcoins to the Account Holder (Bitcoin Return address).
· Wunderbit cannot be held responsible for the loss of bitcoins resulting from an Account Holder not being able to access their personal wallet and/or bitcoin address(es) which they provided to Wunderbit to be used by Wunderbit for sending (or returning) bitcoins to the Account Holder.
· Wunderbit will provide one specific Bitcoin address per Account where the Account Holder can send the Bitcoins that are to be sold by Wunderbit (Bitcoin Sell address).
· When buying or selling bitcoin through the Wunderbit Exchange Service, AccountHolders are buying from, or selling to, Wunderbit directly. Wunderbit does not act as an intermediary or marketplace between other buyers and sellers of bitcoin. The Exchange Service is subject to the Wunderbit "Reference Price". "Reference Price" means the liquidity adjusted price of a given bitcoin amount in terms of local currency as quoted on the Wunderbit Site. The "Reference Price" is stated either as a "Buy Price," the price in terms of local currency at which you purchase bitcoin from Wunderbit, or as a "Sell Price," the price in terms of local currency at which you sell bitcoin to Wunderbit. For the purpose of any transaction which incorporates the "Reference Price", you agree, as a condition of using the Wunderbit exchange services, to accept the "Reference Price" as the sole conversion metric.
· Account Holders acknowledge and agree that the bitcoin price is based on the Wunderbit Reference Price. Volatile market conditions and API delays can affect the Reference Price, both positive and negative, for which Wunderbit cannot be held responsible.
· Account Holders also acknowledge and agree that the payment in relation to the transaction may be delayed due to the availability of banking systems.
· Due to the inherent nature of the Bitcoin network, Account Holders also acknowledge and agree that sending or returning Bitcoins to their Account may take between one (1) hour and twenty-four (24) hours, barring unforeseen or unavoidable network issues.
· Wunderbit reserves the right to abort a transaction at any time and to return received payments or Bitcoins to the Account Holder. Bitcoins are only returned after Wunderbit received at least 6 transaction confirmations.
Our Services consist of facilitating the buying and selling of digital currencies such as Bitcoins and their use to purchase goods in an international open payment system. Wunderbit does not keep or manage any Bitcoin wallets and/or Euro deposits. It is our policy to comply with applicable laws and regulations regarding AML and identity verification (know your customer / KYC procedures), and to detect and prevent the use of our Services for money laundering or to facilitate criminal or terrorist activities. Accordingly, the Company has implemented an Anti-Money Laundering and Identity Verification Policy: AML Policy.
Wunderbit is a stand-alone digital currency exchange business, where you deal directly with Wunderbit (as opposed to an exchange market where you deal directly with other buyers and sellers). The costs for a transaction through the Wunderbit platform consist of a service fee and a bank fee. These fees are clearly specified on the Buy and Sell pages and are presented well in advance of initiating your order. Bitcoin is a digital non-returnable and non-refundable product for which you lose your right of withdrawal. Wunderbit is an exchange for European consumers (individuals) and is in principle not obliged to make an invoice.
Buy bitcoins: via online instant payment service
Wunderbit supports various international online instant payment services.
· A buy transaction is initiated after your payment notification has been received from our payment service provider and is processed by Wunderbit. The Bitcoins will be sent to the Bitcoin Return address of your wallet after finishing the buy transaction (usually within minutes).
· The bitcoin price for your transaction will be locked in for a short period, so you know exactly how many bitcoins you will receive. If your payment takes more than the lock-in period to finalise, your bitcoin price will be updated with the Wunderbit Reference Price at the time of receiving your payment signal. In that case, the final amount of bitcoins sent to your wallet may differ slightly.
· The minimum and maximum transaction sizes depend on the status (verification level) of your Account and are visible after you have submitted your Account Questionnaire on the Profile page.
· For testing purposes, Wunderbit also supports a special test transaction size (with a fixed transaction fee as specified on the Buy page).
Buy bitcoins: via SEPA Euro bank transfers
When buying bitcoins by SEPA bank transfer, you acknowledge and agree to accept:
· That you will be provided with the details of the Wunderbit bank account after all necessary information for verification.
· SEPA bank transfers are processed daily after receiving a notification from our bank of your transfer. Expect a lead time of one to three working days between your bank transfer and receiving the Bitcoins in your wallet.
· Initiate your SEPA transfer from the bank account connected to your Wunderbit Account.
· Put your Wunderbit Reference code in the 'comment' (sometimes called 'label' or 'reference') field of the bank transaction.
· Only transfer Euro amounts within the limits of your Wunderbit Account.
· The minimum SEPA transfer is equal to the test transaction amount and the maximum depends on the verification level of your Wunderbit Account.
· During the first time after creating a New Wunderbit Account, the maximum Buy transaction size per day is limited.
· After your SEPA bank transfer, it usually takes 1-3 working days to show on our bank account.
· Once our bank confirms your transfer, we initiate a buy transaction and the bitcoins will be sent to your wallet.
· The estimated amount of bitcoins on the Exchange page is based on the actual price at that moment.
· The final amount of bitcoins you receive will differ from the estimate as the Bitcoin price is determined when your order is actually traded.
· The final exchange selection will depend on the market situation and exchange availability at the time your buy transaction is processed.
· When your bitcoins are sent to your wallet you will receive a confirmation email with the financial transaction details.
· Bank transfers not in line with these terms will be returned (after deduction of bank costs).
· If you initiate a Sell transaction through the form on the Exchange page, the bitcoin price for your transaction will be locked in for a short period, so you know exactly what your payout will be. If your transaction takes more than the lock in period to finalise, your bitcoin price will be updated with the Wunderbit reference sell price at the time of receiving your bitcoins.
· There is a minimum Bitcoin sell transaction size and a maximum daily Bitcoin sell volume limitation per bank account. When Wunderbit receives a Bitcoin deposit from an Account Holder with a Bitcoin volume below the minimum size or above the daily limit, the Bitcoins are automatically returned to the Bitcoin return address of the Account. In this case the returning Bitcoin volume will be reduced with a small administrative fee (fraction of a Bitcoin). When the return volume is less than the administrative fee, there are no Bitcoins returned.
· The current minimum sell transaction sizes and maximum daily volume depend on your verification status and are visible after submitting your Account Questionnaire on the Profile page.
· After receiving and trading your Bitcoins (at least 3 confirmations required), Wunderbit initiates payout to your bank account on working days at 12:00 (CET).
· Depending on the bank the payment is available on the Account Holder's bank account the same day, next working-day or the working-day after that.
Where our site contains links to other sites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them. Subject to the foregoing, Wunderbit' aggregate liability in respect of claims based on events arising out of or in connection with use of the Services, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the amount of the Transaction(s) that is (are) the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).
We also reserve the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue our Site or Services. Account Holders agree that Wunderbit will not be liable to them or to any third party for termination of their Account or access to the Site.