Last Updated: 25.06.2024

The present Terms of Use for Digital Asset Dispensers are available in English
and French. In case of discrepancies between versions, the French version takes precedence.

1. Your Agreement to these Terms of Use

The Terms of Use of digital asset ATM terminal (hereinafter referred to as the “Agreement”) is a contract between You, an individual customer, user, or recipient of a transfer (hereinafter referred to as “You”, “Your” or “Yours”) and Bitcoin Academy Sàrl, having its registered office in Geneva Switzerland, operating under the brand name Crypto Holding Broker (CHB) (hereinafter referred to as “CHB”), regarding the use of services (hereinafter referred to as the “Service” or “Services”) of CHB’s digital asset ATM terminals (hereinafter referred to as the “Cryptomat”), such as to (i) buy digital assets and have it on a paper wallet; (ii) sell digital assets and receive FIAT (Swiss francs CHF).

Please carefully read the following Agreement. By accessing or using the Services by Cryptomats, You acknowledge that You have read, understood, and agree to be bound by the following Agreement, including any additional guidelines and future modifications.

By accepting this Agreement, You agree that this Agreement will apply whenever You use the Services. If You do not agree to be bound as required herein, then You cannot use the Services.

2. Services Availability

The services are operational 24/7, depending on the opening hours of the establishments. Businesses hosting Cryptomats generally have extended hours from 9 AM to 5 PM.The access hours depend on the business where the Cryptomat is located. Please refer to the business’s website for exact opening hours. Due to possible interruptions related to connectivity or maintenance operations, the services may be temporarily inaccessible.

3. Use of the Services

3.1 Purchase of Cryptocurrencies
Cryptocurrencies (Digital assets) like Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) can be purchased using Swiss Francs (CHF) or Euros (EUR). Nonetheless, CHB reserves the right to expand its portfolio to other FIAT or cryptocurrencies at its sole discretion. Under certain conditions, You can use the Services to acquire cryptocurrencies as follows:

a. You shall use and follow the step-by-step transaction process outlined on the display of the Cryptomat to purchase digital assets;
b. You must first accept these terms of use and agree to provide, within the framework of the LCB-FT, Your telephone number to which You will be sent, by SMS, the code required to continue the transaction;
c. then, You must enter Your telephone number to receive the code requested by the Cryptomat;
d. then, select the FIAT currency (either CHF or EUR) that You plan to use to make the purchase. The Cryptomat then prints out a paper wallet with Your private key and Your public key. You must insert the banknote(s) (CHF or EUR) into the Cryptomat and confirm the transaction. Once You have inserted the banknote(s) in the Cryptomat and confirmed the transaction, CHB starts the process, and the transaction cannot be cancelled;
e. Cryptocurrencies will be transferred to the address of your physical wallet as quickly as possible. CHB will ensure that the amount is sufficient to cover the transaction fees so that the transaction is confirmed within an acceptable time frame.
f. Before initiating a transaction with CHB’s Cryptomats, You must ensure that the physical wallet (paper wallet with public and private keys) is neither damaged nor incomplete in terms of the QR code. It is strongly advised not to keep your cryptocurrencies on the physical wallet for an extended period, as the print quality may deteriorate. We recommend instead using a software or hardware wallet. Taking a photo of your physical wallet is also not advised, as this could expose your private keys to unauthorized third parties.
g. It is Your responsibility to check if the transaction was successfully completed and credited to your physical wallet. If the transaction is not confirmed within 48 hours after generating your physical wallet, or if your transaction has been removed from the cryptocurrency pool, please contact CHB’s customer support at the following address: support@chb.swiss.

3.2 Sale of Cryptocurrencies
You have the option to sell digital assets such as Bitcoin (BTC) and Litecoin (LTC), all converted into Swiss Francs (CHF). CHB reserves the right to extend this offer to other types of digital assets at its discretion.
Subject to the following conditions, You may use the Services to sell digital assets as follows:

a. You shall use and follow the step-by-step transaction process outlined on the display of the Cryptomat to sell digital-assets;
b. in the case of a sell order, You must first choose the digital-assets You wish to sell;
c. You must first accept these terms of use and agree to provide, within the framework of the AML-CFT, Your telephone number to which You will be sent, by SMS, the code required to continue the transaction;
d. then, You must enter Your telephone number to receive the code requested by the Cryptomat;
e. select the amount you wish to sell;
f. the Cryptomat will print the redeem ticket which will contain the instructions to proceed with the transfer of Your digital-assets to the public address of the CHB wallet, in order to confirm Your sell order. The redeem ticket will also contain the necessary information to withdraw Your FIAT currencies. Before starting a transaction on CHB’s Cryptomats, please check that the redeem ticket is not damaged, or that part of the QR code is missing.

You can transfer Your digital-assets from Your wallet (cold wallet or hot wallet) to the public address of the CHB wallet by paying sufficient fees, so that the transaction can be included in one of the following blocks. The transaction will then be processed. Once You have confirmed a sell order, CHB will start the process, and You will not be able to cancel the transaction. All transfers are final and no refunds or exchanges are allowed. It is Your sole responsibility to verify that the transaction has been successfully completed.

Your FIAT currency (Swiss francs (CHF)) and a cash withdrawal receipt will be given to You after You have used Your redeem ticket. CHB recommends that You keep Your cash withdrawal receipt and Your redeem ticket in a safe place, as they can be used as proof of Your transaction. Your redeem ticket can only be used once to redeem a sale order. Once used, it is no longer valid. Your redeem ticket can only be used to withdraw cash for 30 days after the transaction has been confirmed. If You have kept the redeem ticket beyond this period, You will have to contact CHB customer support to reactivate the redeem ticket in order to be able to withdraw money at the Cryptomat.

TIME LIMIT FOR PAYMENT: You must make the digital-asset payment within 15 minutes of placing the sale order. If You do not make the payment within this time limit, the sell order will be cancelled automatically. Nevertheless, if You make the payment after this time limit, You should immediately contact CHB’s customer support service (support@chb.swiss). Your digital-assets may be returned, but the recovery of funds is not guaranteed. In addition, transaction fees will be charged to You and You may also be charged for administrative fees.

CHB is not responsible for the risk of the market volatility occurs within the 15-minute timeframe.

TRANSFER ONLY WITH YOUR CRYPTO WALLET: CHB strongly recommends that You transfer the digital assets which are on Your cold wallet (e.g. paper wallet or ledger) or on Your hot wallet.

It is strongly recommended not to send Your digital assets from an online exchange wallet as it may introduce delay in transferring Your funds to CHB’s public wallet address resulting in the transaction cancellation. It is recommended, when possible, to always use a wallet where You control the private key (e.g. paper wallet or ledger). Transferring digital assets from exchange platforms may exceed the 15-minute time limit. If this happens, the funds cannot be automatically refunded as intended and You will need to contact CHB’s customer support service for assistance.

Your transaction will be considered invalid and cancelled, with the funds returned to Your wallet address from which the funds were sent, if:

a. You do not send the full payment in a single transaction or You only receive a partial payment;
b. You have sent more than the required amount;
c. any payment is sent or received after the deadline displayed on the Cryptomat.

In case of invalid and cancelled transactions:

a. miner fees will be deducted from the funds submitted to the account for processing and returning the transaction;
b. You should check the blockchain for confirmation of returned funds.

If You would like to try the process again, You SHALL NOT USE the same redeem ticket. You should start a new transaction and make sure to send the correct amount within the time limit displayed on the Cryptomat. If You use the same redeem ticket, the transaction will be considered invalid and cancelled once again.

4. Modifications

CHB reserves the right to modify its services at its discretion. CHB is committed to doing the most reasonable commercial efforts to inform you of any changes made to our services. Updates will mainly be communicated via our website and also announced on our social networks.
CHB also holds the right to modify any element of this Agreement at any time. It is the responsibility of each user to regularly check if modifications have been made to this Agreement.
Your continued use of our services following the publication of changes to this Agreement will be considered as acceptance of said changes.

5. Fees

CHB imposes fees that may be fixed or variable. These fees are subject to change at any time, and this may occur without prior notification from us.

If you wish to obtain information on current fees, these details can be provided to you at any time upon simple request. In a commitment to transparency, we also make this information available on our website.

6. Limitation of Liability

CHB, as well as its directors, officers, employees, agents and shareholders, and third-party information providers, as well as their directors, officers, employees, agents and shareholders, assume NO LIABILITY FOR DIRECT OR INDIRECT LOSSES OR DAMAGES OF ANY KIND resulting from the use of the Services. In particular, CHB’s LIABILITY, as well as that of its administrators, directors, employees, agents and shareholders, for any prejudice or loss suffered as a result of an error, technical or otherwise, a transfer failure, an overload situation, a difficulty in use, a Service interruption (including, among others, the system maintenance Service), a delay in the transmission of information, illegal intrusion (e.g., as a result of hacking), intentional blocking of telecommunication tools and networks or any other inadequacy of telecommunication or network service providers IS EXCLUDED. THE RISK OF EXCHANGE RATE AND FOREIGN CURRENCY LOSSES AS WELL AS FLUCTUATIONS IN YIELDS DUE TO AN UNFAVOURABLE DEVELOPMENT OF EXCHANGE RATES CANNOT BE EXCLUDED. INVESTMENTS IN DIGITAL ASSETS ARE ASSOCIATED WITH SPECIFIC RISKS (SECTION 7. BELOW). THE LOW CAPITALISATION OF THE MARKET, ITS SPECULATIVE NATURE, AND THE ONGOING CHANGES IN THE REGULATORY FRAMEWORK IN VARIOUS COUNTRIES CONTRIBUTE TO HIGH VOLATILITY. YOU SHOULD FAMILIARISE YOURSELF CLOSELY WITH TECHNICAL AND REGULATORY DEVELOPMENTS IN THIS AREA, INCLUDING THE PUBLICATIONS OF THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY (FINMA).

CHB is connected to the blockchain which is not under the direct and/or indirect control of CHB. CHB DOES NOT TAKE ANY RESPONSIBILITY REGARDING THE BLOCKCHAIN NETWORK AND DOES NOT ENDORSE DIGITAL ASSETS IN ANY WAY WHATSOEVER. Neither Bitcoin (BTC) nor any other digital assets You may have access to is managed by CHB or is under the responsibility of CHB. CHB is not responsible for the digital assets made available. By using CHB’s Services, You acknowledge that Bitcoin (BTC), Ethereum (ETH), or any other digital assets, are experimental alternative assets, which are currently under development, and that their operation and evolution are not predictable.

CHB SHALL NOT BE LIABLE FOR ANY COST OR DAMAGE ARISING EITHER DIRECTLY OR INDIRECTLY FROM THE USE OF THE CRYPTOMAT. CHB CANNOT RETAIN YOUR PAPER WALLET. YOU ACKNOWLEDGE THAT YOU ARE FULLY RESPONSIBLE FOR THE DESTRUCTION AND THE LOSS OF YOUR PAPER WALLET. IN NO EVENT WILL CHB BE LIABLE FOR ANY INCIDENTAL, CONSEQUENTIAL, OR INDIRECT DAMAGES ARISING OUT OF THE USE OF OR INABILITY TO USE THE CRYPTOMAT.

7. Risk Factors

Digital assets are subject to technology-specific and other particularities, limitations and developments, and may be affected by various events. Digital assets are new, and the underlying technology, the blockchain, remains untested.

You acknowledge that there are high risks associated with using the Services, especially in a nascent environment like the digital assets and the blockchain/distributed ledger technologies. In this context, some risks are already identified, but some may not be identified at the date of this Agreement. For this reason, risks related to the Services performed by CHB are high and may lead to the loss, damage, deletion, removal, destruction, unavailability, inaccessibility and/or confiscation of all or part of Your digital assets, risks that You fully acknowledge without reservation.

You also acknowledge risks related to the fact that CHB is making the Services available through the Internet and/or through other means mutually acceptable to You and CHB, and that access to the Internet and the Services is dependent on numerous factors, technologies and systems, all of which are beyond the authority and control of CHB. You acknowledge and agree that CHB shall not be liable or responsible for any of Your inability to access the Services due to blockchain and/or computer network issues.

CHB takes commercially reasonable measures to identify and mitigate the potential risks associated with digital assets. Such risks include without limitation the following:

a. hacking and other attacks and attempts by third parties, in particular with respect to data establishing access to and enabling the disposition over digital assets, or individual transactions in digital assets; including but not limited to, denial of Service attacks, smurfing, Sybil attacks, malware attacks or consensus-based attacks;
b. data theft, including hardware theft by physical intrusion;
c. the failure of hardware, software, solutions, third-parties’ services and/or solution, and internet connection;
d. loss of data;
e. internal or external fraudulent activities;
f. communication failures, disruptions, errors, distortions or delays You may experience when using the Services;
g. rules and conditions of the network protocols, including but not limited to bonding, lock-up, blocking, freezing periods, vesting, slashing ineligibility to receive digital assets or benefits for partial periods and minimum balances required.

Finally, holding digital assets may involve particular risks on the markets. Consequently, CHB shall not be responsible for any damage or loss resulting from the general investment risk in the markets, or due to the holding of digital assets in any country, including (but without limitation) any damages, losses or costs resulting from nationalization, civil unrest, any act by an administration or other acts or threats by any authority (de jure or de facto), expropriation or any other governmental act, regulations enacted by regulatory authorities in the banking or finance sector, any change in market regulations, currency devaluation, exchange control, or market conditions affecting the proper performance of transactions on securities or the value of assets of any kind.

In addition to the risk stipulated above, there are other risks that CHB cannot foresee at the time of the Agreement and which may depend on internal and external factors.

Risks may also occur as unanticipated combinations or as changes, evolution, or adjustments of the risks stipulated above. CHB provides no guarantee against the consequences of such risks.

CHB does not warrant nor guarantee in any form the integrity of the digital assets related to the Services of CHB.

You acknowledge and accept that CHB shall not be responsible for any of these above-mentioned risks. In particular, You shall bear any loss or damage resulting from non-compliance with Your own duties of care as well as any other loss or damage resulting from events or the materialisation of risks outside the sphere of influence of CHB, including without limitation any hacking, intrusions or other attacks by third parties targeting any elements outside the sphere of influence of CHB, such as the external systems, nodes or other physical or virtual elements of blockchains, digital, distributed and encryption ledgers or other databases not operated by CHB, or individual addresses within such databases, as may be relevant to the existence, access to or disposition over Your digital assets.

You shall be required to cooperate with CHB as required or deemed useful by CHB to address and mitigate the risks in connection with the Services. In particular, You shall under no circumstances communicate or pass on any distributed ledger addresses provided to You by CHB in connection with the Services to any other person or third party. Any costs associated with the creation of new distributed ledger addresses and transfers of digital assets in connection with a violation by You of such duty shall be borne by You.

8. No Warranty

WE DO NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES, REPRESENTATIONS OR ENDORSEMENTS WHATSOEVER WITH REGARD TO THE CHB WEBSITE, ANY MERCHANDISE, INFORMATION OR SERVICE PROVIDED THROUGH THE CHB WEBSITE OR ON THE INTERNET GENERALLY. IT IS YOUR RESPONSIBILITY TO EVALUATE THE ACCURACY, COMPLETENESS AND USEFULNESS OF ALL OPINIONS, ADVICE, SERVICES, MERCHANDISE AND OTHER INFORMATION PROVIDED THROUGH THE WEBSITE OR ON THE INTERNET GENERALLY. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED OR ERROR-FREE OR THAT DEFECTS IN THE CRYPTOMAT TERMINAL WILL BE CORRECTED. THE SERVICES AND ANY INFORMATION MADE AVAILABLE ON THE CHB WEBSITE ARE PROVIDED ON AN “AS IS, AS AVAILABLE” BASIS.

9. Indemnity

You undertake to indemnify CHB and hold CHB harmless from and against:

a. all claims, damages, commitments, disbursements, taxes and other liabilities incurred or suffered by CHB resulting directly from CHB carrying out its obligations under this Agreement;
b. all reasonable charges and expenses, including legal and correspondent fees, suffered by CHB resulting directly from CHB carrying out its obligations under this Agreement, in line with relevant market practice;
c. all claims, losses or commitments resulting from a breach by You of the representations and warranties made by You in this Agreement;
d. all economic and legal consequences (a) of any measures taken by authorities, regulatory or self-regulatory bodies in any relevant jurisdiction(s), including without limitation those where the Services concerning the digital assets are used, or (b) resulting from the exercise of consensus or similar mechanisms in respect of digital assets, including without limitation any prohibitions or restrictions of transfers, limitations to, suspension or exclusion of convertibility or changes to functionality, which may affect Your digital assets used in connection with the Services.

10. Access and limitation of the Services

You must be at least 18 years old to be able to use the Services. Any fraudulent use of the Services, or any use for any illegal, improper, or unethical purpose is strictly prohibited. CHB has the right to block access to the Services in its sole discretion and without prior notice to You.
You warrant that all information provided by You or on Your behalf to CHB under or in connection with this Agreement was true, complete and accurate and is not misleading in any respect, and no event or circumstance has occurred or arisen and no information has been omitted that results in the information provided by You or on Your behalf to CHB under or in connection with the Agreement being untrue or misleading in any respect.
The minimum amount for a buy order is CHF 50.- (or its equivalent in EUR), while the minimum amount for a sell order is CHF 100.-.
You may not carry out a single transaction or several transactions that appear to be linked for a total amount exceeding CHF 1’000.- (or its equivalent in EUR) per month before making a request directly through our contact form available on our website https://chb.swiss/contact/ or by email at compliance@chb.swiss to verify your identity. Once this process is completed, you will benefit from personalized limits and be recognized as a VIP client at CHB.

11. Support

If you face any issues or have any questions, please contact our customer support by sending an email to support@chb.swiss. Please provide as much detail as possible along with any relevant proof or documentation.

For immediate assistance while using the machine, please contact our technical support by calling +41 76 207 43 28.

Our support service is available during regular opening hours to respond to your queries. Please note that response time may vary depending on the volume of requests received. Phone support for Cryptomat is available Monday to Friday, from 09:00 to 12:00 and from 13:00 to 18:00. Email and other forms of support are available 7 days a week with a response time within 48 hours. Assistance is primarily provided in French and English.

12. Miscellaneous

12.1 Commitments
CHB has made no commitments or promises orally or in writing with respect to delivery of any future features or functions of the Services. In relation to any future features or functions, all presentations, request for proposal responses, and/or product roadmap documents, information or discussions, either prior to or following the entering into this Agreement, are for informational purposes only, and CHB shall have no obligation to provide any future releases or upgrades or any features, enhancements or functions, unless specifically agreed to in writing by both Parties. You acknowledge that no decisions are based upon any future features or functions of the Services.

12.2 Notice
All notices and other communications made or to be made pursuant to this Agreement shall be given in writing and You agree that all communication CHB provides to You electronically satisfy any legal requirement that such communications be in writing.

12.3 No waiver
No failure to exercise and no delay in exercising on the part of any of the Parties any right, power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies provided by this Agreement are cumulative and not exclusive of any rights or remedies otherwise provided by law.

12.4 Severability
Every term and provision of this Agreement is intended to be severable. If any provision of this Agreement is determined by a competent court to be invalid, inoperative, or unenforceable for any reason, the Parties shall negotiate in good faith to modify this Agreement so as to affect the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consumed as originally contemplated to the fullest extent possible. In the event of one of the provisions of this Agreement being void, cancelled, or rendered otherwise invalid, the validity of the remaining parts of this Agreement shall not be affected or impaired.

12.5 No third-party beneficiaries
The provisions of this Agreement are intended solely to benefit the Parties and, to the fullest extent permitted by applicable law, shall not be construed as conferring any benefit or right upon any other third-party (including any of Your creditors) and no such other third-party shall be a third-party beneficiary of this Agreement, or have any right to enforce any term of this Agreement.

12.6 Future changes in applicable law
This Agreement is based on laws and regulations which are subject to change through legislative, judicial or administrative actions. Other legislations could be enacted that would subject the Agreement to change and increase potential risk. It is Your duty to consider legal or tax advice if needed and consult Your own counsel regarding tax laws and regulations of any other jurisdiction which may be applicable to them.

13. Entire Agreement

The General Terms and Conditions and the Terms of Use for Cryptomat constitute the entire agreement between the Parties with respect to the subject matter of these two agreements. They replace and supersede any previous version concerning the same subject matter.

14. Assignment

This Agreement shall not be assigned without Your prior written consent or without the prior written consent of CHB.

15. Applicable Law and Competent Courts

The Agreement shall be governed by and construed in accordance with the Swiss law without giving effect to the conflict of laws of Switzerland (IPRG) or to the United Nations Convention on Contracts for the International Sale of Goods of April 11, 1980, or Your actual state or country of residence. Any dispute, controversy or claim arising out of or in relation to this Agreement, Your relationship with CHB, including any non-contractual obligations, will be exclusively subject to the jurisdiction of the courts of Geneva, Switzerland.

16. Place of Execution

This Agreement is considered to be executed solely in Switzerland.