Cryptotech Terms of Service

Agreement

By signing up to purchase tokens in the Cryptotech Crowdsale Program (“Program”) you are agreeing to be bound by the following terms and conditions (“Terms of Service”).

Cryptotech reserves the right to update and change the Terms of Service from time to time without notice. Any new features that augment or enhance the current Program, including the release of new tools and resources, shall be subject to the Terms of Service. Continued use of the Program after any such changes shall constitute your consent to such changes.

Violation of any of the terms below will result in the termination of your Account.

Account Terms

  • You must be 18 years or older to be part of this Program.
  • You must be a human. Accounts registered by “bots” or other automated methods are not permitted.
  • You must provide your legal full name, a valid email address, and any other information requested in order to complete the signup process.
  • Your login may only be used by one person – a single login shared by multiple people is not permitted.
  • You are responsible for maintaining the security of your account and password. Cryptotech cannot and will not be liable for any loss or damage from your failure to comply with this security obligation.
  • You are responsible for all Content posted and activity that occurs under your account.
  • One person or legal entity may not maintain more than one account.
  • You may not use the Program for any illegal or unauthorized purpose. You must not, in the use of the Service, violate any laws in your jurisdiction (including but not limited to copyright laws). Your need to verify if you are allowed by your country or states laws to participate in this program.

Terms of the Token offer

  1. The Token offered by Cryptotech AS is a pre-purchase of a right to obtain free cloud mining service for mining cryptocurrencies in the amount of 1 TH/s per Token, and is in no way, or by any means, any stake or ownership of any kind of Cryptotech AS.

 

  1. The purchase of a Token is allotted to the individual or company that has purchased the Cryptotech Token. One Token gives the right to 1 TH/s of computing power of SHA-256 Algorithm for cryptocurrency mining for 2 years. This includes both the maintenance fees and power cost, in which at the end of 2 years the services provided will end. This 2-year contract will start when the purchaser of the token exchanges it back to Cryptotech AS at the end of August 2018 and will be terminated after 2 calendar years from the date of the exchange with Cryptotech AS.

 

  1. Cryptocurrency mining will start on the same day for all token holders and payment for each token every day will be identical for all the token holders. (pool mining). Tokens must be redeemed for mining within 6 months of the start of the mining period in August 2018. After these 6 months, unredeemed tokens are considered lost and lose their right to be redeemed  any value linked to the token will become the property of Cryptotech AS.

 

  1. After the 2-year contract has ended for the purchaser of the token they will have the opportunity to renew their contract for another 2 years. This renewal will include the payment of maintenance fees and power costs that was excluded in the initials token purchase. The final price of the renewal will be decided by Cryptotech AS and will be notified via E-mail to all Token holders, and publicized on Cryptotechs AS site.

 

  1. Once the 2 year contract has started, Bitcoin payments will be made weekly or whenever the balance of each user reaches equivalent of $ 100 value. Payments will be made directly to each users own Bitcoin wallet. Any taxes applicable to the earnings are entirely the Token holders responsibility to notify its local authorities.

 

  1. If the Bitcoin price during the period between August 2018 and August 2020 does not fall below $5500, we guarantee that each token purchased will have mined $600 worth of Bitcoin during these 2 years. If it does not meet this value we will extend your cloud mining contract for free until each of your 1 TH/s tokens has mined a total amount of bitcoins equivalent to minimum $600 each.

 

  1. All responsibility falls on the purchaser of Cryptotech Token. Tokens are to be treated as cash holdings. Cryptotech is not liable for lost or misplaced tokens purchased from Cryptotech or any tokens purchased on exchanges. Nor will Cryptotech be able to replace lost or misplaced Token.  Tokens use the Ethereum smart contracts platform and will be transferred to the Ethereum Wallet specified by the Token holder upon purchase.

 

  1. All sales are final from Cryptotech AS. The resale of the token is allowed to other parties and tokens may be traded freely after initial purchase, the person or entity that transfers the Token back to Cryptotech in August 2018 is the one that will be able to exchange each token for a 1 TH/s hashrate per token. Proof of purchase is not valid as means of exchange. Only approved token transfer accepted.

 

  1. By no means will any of the purchasers of tokens have the right to any ownership or part of the technology behind our proprietary ASIC chip, miners, company or operations.

 

  1. All legal disputes arising from this agreement shall be bound to Norwegian law and conducted by a Norwegian court.

 

  1. Tokens purchased during Presale period between 5th-30th of November are given a 50% discount. Transfer of Tokens are done manually and checked against orders and Payments due to security reasons. Therefore expect some delays in initial Token transfers purchased during the presale period. We expect to finalize all Transfer of tokens to its buyers by end of December 2017.

 

  1. All token buyers must hold a valid Ethereum wallet and provide the Ethereum wallet address where the Tokens are to be deposited. All Token customers will receive an email in Early December with detailed description on how to do this.

 

  1. Amount of tokens is limited to a maximum of 1 000 000 tokens sold during the Crowdsale.

 

Force Majeure

Cryptotech AS shall not be liable for any failure of or delay in the performance of this agreement for the period of such failure or delay is beyond the reasonable control of a party, or events as listed below.

(a) natural events

These may include earthquakes, floods, lightning, tsunami, fire, plague, acts of God and other natural disasters.

(b) political and special events

These may include terrorism, riots or civil disturbances; war, whether declared or not; strikes, change of law or regulation, nuclear or chemical contamination, pressure waves from devices travelling at supersonic speeds, failure of public infrastructure, traffic accidents.

Customer definition

Customers who buy products through this Program will be deemed to be our customers. Accordingly, all of our rules, policies, and operating procedures concerning customer orders, customer service, and product sales will apply to those customers. We may change our policies and operating procedures at any time. For example, we will determine the prices to be charged for products sold under this Program in accordance with our own pricing policies. Product prices and availability may vary from time to time.

Termination

Cryptotech, in its sole discretion, has the right to suspend or terminate your account and refuse any and all current or future use of the Program, or any other Cryptotech service, for any reason at any time. Such termination of the Service will result in the deactivation or deletion of your Account or your access to your Account, and the forfeiture and relinquishment of all potential or to-be-paid commissions in your Account if they were earned through fraudulent, illegal, or overly aggressive, questionable sales or marketing methods. Cryptotech reserves the right to refuse service to anyone for any reason at any time. Tokens already purchased and transferred to your wallet will remain yours and can still be traded or exchanged for the promised services.

Limitations of Liability

We will not be liable for indirect, special, or consequential damages (or any loss of revenue, profits, or data) arising in connection with this Agreement or the Program, even if we have been advised of the possibility of such damages.

Disclaimers

We make no express or implied warranties or representations with respect to the Program or any products sold through the Program (including, without limitation, warranties of fitness, merchantability, noninfringement, or any implied warranties arising out of a course of performance, dealing, or trade usage). In addition, we make no representation that the operation of the Cryptotech Mining facility will be uninterrupted or error-free, and we will not be liable for the consequences of any interruptions or errors. We will strive to minimize downtime to a minimum.

Arbitration

Any dispute relating in any way to this Agreement (including any actual or alleged breach hereof), any transactions or activities under this Agreement or your relationship with us or any of our affiliates shall be submitted to confidential arbitration, except that, to the extent you have in any manner violated or threatened to violate our intellectual property rights, we may seek injunctive or other appropriate relief in any state or federal court (and you consent to non-exclusive jurisdiction and venue in such courts) or any other court of competent jurisdiction. Arbitration under this agreement shall be conducted under the rules of Norway. The arbitrator’s award shall be binding and may be entered as a judgment in any court of competent jurisdiction. To the fullest extent permitted by applicable law, no arbitration under this Agreement shall be joined to an arbitration involving any other party subject to this Agreement, whether through class arbitration proceedings or otherwise.

Miscellaneous

This Agreement will be governed by the laws of Norway, without reference to rules governing choice of laws. You may not assign this Agreement, by operation of law or otherwise, without our prior written consent. Subject to that restriction, this Agreement will be binding on, inure to the benefit of, and be enforceable against the parties and their respective successors and assigns. Our failure to enforce your strict performance of any provision of this Agreement will not constitute a waiver of our right to subsequently enforce such provision or any other provision of this Agreement.

The failure of Cryptotech to exercise or enforce any right or provision of the Terms of Service shall not constitute a waiver of such right or provision. The Terms of Service constitutes the entire agreement between you and Cryptotech and govern your use of the Service, superceding any prior agreements between you and Cryptotech (including, but not limited to, any prior versions of the Terms of Service).

Language

The official site Language is English, all other languages are results of automated translations and may contain errors, appear confusing, misleading and should only be used as a approximate reference.  Please make sure you understand the English terms described here. Only the English version is binding.