Terms of Use

1. Service description

NorthCrypto Oy (hereinafter referred to as the “Company”) is a crypto asset service provider (CASP) that offers you (hereinafter referred to as the “Customer” or “you”) an internet-based service through which you can buy, transfer, sell and store crypto assets (collectively, the “Service”).

The company is a limited liability company established under Finnish law and domiciled in Turku. The company's contact information:

  • LEI code: 743700CHRVVP342JOA67
  • Business ID: 2918254-9
  • Address: Kristiinankatu 1 B 25, 20100 Turku
  • Email: support@northcrypto.com

The Company is part of the GreenMerc Group. These Terms of Use (“Terms of Use”) define the terms of use of the Service. By creating a user account, you agree to these Terms of Use and the Service Provider’s Privacy Policy, which constitute the entire agreement between you and the Company.

The company operates under the supervision of the Finnish Financial Supervisory Authority. Contact information for the Finnish Financial Supervisory Authority:

Financial Supervisory Authority

P.O. Box 103

00101 Helsinki

www.finanssivalvonta.fi

+358 9 18351

Certain payment methods used in the Service may require separate acceptance of the terms and conditions of the third-party service provider when using that payment method. If the Customer selects Trustly as a payment method in connection with a fiat deposit, the Customer must accept Trustly's applicable terms and conditions before using that payment method.

The Service currently uses the following service providers:

  • Service provider: Greenmerc Finance
  • Service provided: Payment transactions related to the Service
  • Acceptable conditions: Greenmerc Finance Terms

2. Definitions

The following definitions are used in these Terms of Use:

  • AML Act: Act on the Prevention of Money Laundering and the Financing of Terrorism (444/2017).
  • Blockchain: a technology that allows unknown actors to jointly maintain a distributed database.
  • Blockchain fork/split: an event in which a blockchain splits into two or more separate blockchains.
  • Counterparty: a third-party CASP that executes your order.
  • Crypto asset: a digital representation of value or right that can be transferred and stored electronically using blockchain technology (e.g. Bitcoin, Ethereum, Solana).
  • Crypto asset account: An account on the service for storing crypto assets.
  • Crypto deposit: a transfer service function where the Company receives crypto assets from your external wallet and credits them to your crypto asset account.
  • Crypto withdrawal: a transfer service function where crypto assets are transferred from a crypto asset account to an external wallet.
  • External virtual wallet: crypto wallet or blockchain address outside the Service.
  • Rewards: Costs and fees related to the Company's Service.
  • Fiat assets: the official currency issued by a central bank (e.g. the euro).
  • Fiat deposit: a function where Greenmerc Finance receives your fiat funds from your bank account and credits them to your payment account.
  • Fiat withdrawal: a function where Greenmerc Finance transfers fiat funds from a payment account to your bank account.
  • MiCA: EU Regulation 2023/1114 on markets in crypto-assets.
  • Order: an order given by a customer through the Service to use a trading or transfer service.
  • Payment account: An account on the service for storing fiat funds.
  • Payment services: Payment services in accordance with the PSD2 directive.
  • Payment transaction: a payment made from a payment account, for example for trading or fiat withdrawal.
  • Settlement: mandatory process after trade execution.
  • Trading venue: a third-party hosted crypto asset trading platform.
  • Trading service: A service provided by the company for buying, selling or exchanging crypto assets.
  • Transfer service: A service provided by the company for transferring crypto assets.
  • User account: your personal user account in the Service.
  • User name: the email address provided when creating the user account.
  • Website: www.northcrypto.com

3. Risk warning

Cryptocurrencies are subject to significant risks. Before using the Service, you should understand at least the following risks:

  • Crypto assets may lose some or all of their value.
  • Crypto asset prices are highly volatile.
  • Crypto assets are subject to security risks, such as hacking and fraud.
  • Regulation can change quickly and affect the use and value of crypto assets.
  • Transactions related to crypto assets may result in tax consequences.
  • Some crypto assets may have poor liquidity.
  • Counterparty risk can occur, for example, due to the insolvency of a service provider.
  • Blockchain technology involves technical and operational risks.
  • Crypto assets are not covered by deposit or investor protection.

By using the Service, you accept these risks and responsibilities.

4. Becoming a customer and creating a user account

Creating a user account is a prerequisite for becoming a customer and using the Service.

To create a user account you must:

  • be at least 18 years of age; and
  • have legal capacity to enter into binding contracts.

By creating a user account:

  • you agree to these Terms of Use,
  • you accept the Greenmerc Finance terms and conditions for payment transactions,
  • you confirm that your information is correct and up to date.

In accordance with the AML Act, the company is obliged to identify its customers using strong authentication (e.g. online banking credentials).

The company has the right to request additional information to verify identity.

5. Your rights and obligations

  • The user account is personal.
  • You may not use the Service for any illegal purposes.
  • You are responsible for compliance with applicable legislation and tax regulations.
  • You are responsible for paying service fees.
  • You are responsible for the secure use of your user account.

6. Rights and obligations of the company

The Company provides the Service in accordance with the MiCA Regulation and maintains, among other things, a conflict of interest policy.

The company has the right to:

  • freeze a user account or cryptocurrency account,
  • restrict the use of the service,
  • block access to the Service,
  • ask for further information,

if there is reason to suspect a violation of the terms of use, money laundering or other abuse.

7. Cryptocurrency

Crypto assets held in a cryptocurrency account are always your property.

The company acts only as a custodian and does not take ownership of your crypto assets.

The Company may use third-party service providers compliant with MiCA to implement storage services.

In the event of blockchain forking, the Company will decide which blockchain and crypto asset the Service supports.

8. Transfer service

Through the service you can:

  • make crypto deposits,
  • make crypto withdrawals.

The company only offers transfer services to or from your personal external wallet.

You are solely responsible for the accuracy of all transfer information.

9. Trading service

Through the service you can:

  • buy crypto assets,
  • sell crypto assets,
  • exchange crypto assets for other crypto assets.

Available assignment types include:

  • Quickbuy
  • Quicksell
  • Swap
  • Limit Buy
  • Limit Sell
  • Autopilot
  • Stop Loss

Orders are executed on a trading venue or with a counterparty.

The company will never act as your counterparty in a transaction.

10. Information security

  • The password is personal and may not be given to others.
  • The company will never ask for your password except when logging in.
  • The company has the right to block the use of a user account for information security reasons.

11. Changes to the service and terms of use

The company has the right to:

  • change the Service,
  • suspend the Service,
  • unilaterally change the Terms of Use.

We aim to notify you of significant changes at least 30 days in advance.

12. Limitation of liability

The service does not include investment advice.

The company is not responsible for:

  • market risks,
  • the activities of third parties,
  • indirect damages,
  • profit and loss.

The company's liability is generally limited to service fees paid during the last 12 months.

13. Force majeure

The company is not liable for failure to fulfill obligations due to force majeure.

14. Term and termination of the agreement

The agreement is valid until further notice.

You can terminate the contract at any time with immediate effect.

The company may terminate the agreement with 30 days' notice or immediately for breach of terms.

15. Contacts and complaints

Contacts:

support@northcrypto.com

Complaints can be made free of charge.

16. Applicable law

The agreement is governed by Finnish law.

Any disputes will be resolved in the Helsinki District Court.