Terms and Conditions
Definitions
In these General Terms and Conditions the following terms have the following meanings, unless
expressly
stated otherwise:
General Terms and Conditions: The general terms and conditions as set out hereinafter.
Magic Investment Choice: Magic Investment Choice, part of OliNo Energy B.V.
OliNo: OliNo Energy B.V. registered with the Ch. of Comm. under number 17205823.
Service: All work, in whatsoever form, executed by Magic Investment Choice for or for the benefit of
the
Client.
Client: Those who have accepted the applicability of these General Terms and Conditions and provided
an
assignment for the provision of the service.
Agreement: Every Agreement concluded between Magic Investment Choice and the Client.
Trader: The fully automatic Bitcoin Trader who trades Bitcoins on behalf of the Client.
Scope
These General Terms and Conditions apply to every offer and Agreement concluded
between Magic Investment Choice and the Client, unless parties expressly and in writing derogate from
these General Terms and Conditions.
These General Terms and Conditions also apply to Agreements with Magic Investment Choice for the
performance of which third parties must be involved.
The applicability of any purchase and/or other General Terms and Conditions of the Client is
expressly
rejected.
If it appears that one or more provisions of these General Terms and Conditions are null and void or
voidable, these General Terms and Conditions will continue to be in existence for all the remainder.
Derogations from the Agreement and General Terms and Conditions will only be valid if these have
been
expressly agreed in writing with Magic Investment Choice.
If Magic Investment Choice does not always require strict compliance with these conditions, this will
not
mean that the provisions thereof are not applicable, or that Magic Investment Choice to any extent
would
lose the right in other cases to require strict compliance with the provisions of these terms and
conditions.
Offers
Offers will be made in writing and/or electronically, unless urgent circumstances make this
impossible.
All offers from Magic Investment Choice are without obligation, unless a period for acceptance is
stated
in the offer. If a period for acceptance is set out in the offer, the offer will lapse when this
period
has expired.
All offers from Magic Investment Choice are valid during the period included in the offer. The offer
lapses when this period has expired.
Magic Investment Choice cannot be bound by its offers if the Client, in accordance with the standards
of
reasonableness and fairness and according to generally accepted standards, ought to have understood
that
the offer or a part thereof contains an obvious mistake or clerical error.
Account
The Client must generate an account to be able to use Magic Investment Choice’s trading. The Client
must,
in doing this, fill in his/her personal data.
The Client will manage his/her account and must personally set this up.
A minor will always require express permission from his/her parent or guardian.
It is not permitted to provide the login details to third parties and/or to use a third party’s
login
details.
Magic Investment Choice will never be responsible or liable for the contents and/or information that
is
placed on the Client’s profile page.
Trading
The Client must first generate a personal account with a third party Bitcoin exchange that is
supported
by Magic Investment Choice, in order to let Magic Investment Choice trade on behalf of the Client.
Following
this the Client must generate API keys with this exchange with minimal rights, as a result of which
users of these API keys will only have the right to trade and request balances on behalf of the
Client.
The API keys expressly do NOT have the right to remove money or Bitcoins from the exchange. The
Client
will be personally responsible for generating API keys with minimal rights. The Client is aware that
more risks are taken if API keys are generated with too many rights, because any hackers can misuse
these keys to remove money or Bitcoins from the Bitcoin exchange account of the Client.
The API keys are transferred to Magic Investment Choice during the registration for
Magic Investment Choice.
The Client thereby gives Magic Investment Choice the right to and the possibility to be allowed to
trade
on behalf of the Client.
If generated correctly by the Client, the API keys will not give Magic Investment Choice any
possibility
of transferring money or Bitcoins to other accounts.
The Client needs at least one credit to be able to trade. If the number of credits is negative or
zero,
there can be no trading.
The credits purchased by the Client are in any event not refundable.
Termination of the Magic Investment Choice account
A Client can at any time unilaterally stop the use of the Magic Investment Choice service.
OliNo will be entitled to unilaterally terminate the account with immediate effect if:
There is fraud or misuse on the part of the Client.
The Client’s actions cause damage for OliNo.
An account of the Client has had negative credits for longer than 2 months.
Performance of the Agreement
Magic Investment Choice will perform the Agreement to the best of its knowledge and ability and in
accordance with high standards.
Magic Investment Choice has the right to have specific work executed by third parties. The
applicability
of Sections 404 and 407, subsection 2, Book 7 of the Civil Code is expressly excluded.
The work will be executed within a period stated by Magic Investment Choice.
If a period has been agreed or stated for the execution of specific work, this period will only be
indicative and is never to be regarded as a final deadline.
If Magic Investment Choice requires data or instructions from the Client, which are necessary for the
performance of the Agreement, the execution period will commence after Magic Investment Choice has
received this from the Client.
Prices and rates
The prices and/or rates are expressed in Euro, including VAT and other duties imposed by
authorities,
unless stated otherwise.
The prices and/or rates are including travel and accommodation, packaging, delivery, or dispatch
costs,
and administrative costs, unless stated otherwise.
Payment will take place by means of the purchase of pre-paid credits. These credits must be
purchased
online and paid electronically.
Payment will always take place in advance, unless agreed otherwise.
Return
The trader’s annual return will be optimised by conducting simulations with real historical Bitstamp
trading data.
The trader will only sell bitcoins if profit can be made. By having the strategy to only sell with
profit we have made the assumption that Bitcoin will have an increasing price in the long-term.
Because
of this the trader can wait until the pockets with Bitcoin that have already been purchased can be
sold
again with profit. This means that in a prolonged monotonous bear market no return can be achieved
in
the worst case situation.
The trader’s return is very dependent on the market. If the Bitcoin’s price fluctuates considerably,
the
Client will achieve the best return with the trader.
Past return on investment is no guarantee for the future.
Investment in Bitcoin is regarded by many people as high-risk and that also applies therefore to
using
the cryptotraders. Therefore never invest more than you can afford to lose.
Liability
Magic Investment Choice will only be liable for direct damage arisen through wilful recklessness or
intention on the part of Magic Investment Choice. Direct damage is exclusively taken to mean:
damage to property of the Client;
reasonable costs incurred by the Client for establishing liability and the (extent of the direct)
damage;
reasonable costs, reasonably incurred by the Client, which could be and were permitted to be
incurred in
all reasonableness, for the prevention or limitation of the damage, insofar as the Client
demonstrates
that these costs have resulted in limitation of the direct damage;
reasonable costs, which the Client has incurred in all reasonableness for acquiring payment without
the
intervention of the courts, as referred to in Section 96, subsection 1, under c, Book 6 of the Civil
Code.
Magic Investment Choice will never be liable for the loss of money or Bitcoins due to problems with
the
Bitcoin exchange, or the careless transfer of money or Bitcoins by the Client from – or to – the
Bitcoin
exchange.
Magic Investment Choice will never be liable for the loss of money or Bitcoins due to problems with
Bitcoin or the Bitcoin network or the decrease in value of Bitcoin.
Magic Investment Choice will never be liable for indirect loss, including in any event consequential
loss,
lost profit, lost savings, loss due to business interruption, or intangible loss on the part of the
Client.
Magic Investment Choice will not be liable for damage, of whatsoever nature, due to the fact
that Magic Investment Choice has proceeded from inaccurate and/or incomplete data provided by the
Client,
unless this inaccuracy or incompleteness ought to be apparent to Magic Investment Choice.
The limitations of liability included in this article do not apply if the damage can be attributed
to
intention or gross negligence on the part of Magic Investment Choice or its managerial employees.
If Magic Investment Choice were to be liable for any damage whatsoever, the liability on the part
of Magic Investment Choice will be limited to a maximum amount of € 7,500 or to the amount that the
insurance taken out by Magic Investment Choice gives entitlement to, plus the amount of the
deductible
which is not borne by the insurer under the policy conditions that Magic Investment Choice
accordingly
must bear.
The client must report the damage, for which Magic Investment Choice can be held liable, as soon as
possible but in any event within 10 days from the arising of the damage, to Magic Investment Choice,
all
this at the risk of forfeiting any right to compensation of this damage.
Any action for liability against Magic Investment Choice lapses within one year after the Client
became
aware of the damage causing fact or could reasonably have become aware thereof.
Indemnity
The client indemnifies Magic Investment Choice against possible claims by third parties, who in
connection
with the performance of the Agreement suffer damage which is attributable to the Client.
If Magic Investment Choice is held liable by the third parties on that basis, the Client will be
obliged
to assist Magic Investment Choice at law and otherwise. All costs and damage on the part of
the Magic Investment Choice and third parties will further be at the Client’s expense and risk.
Confidentiality
Magic Investment Choice as well as the Client will be obliged, during the term and after the
termination
of the Agreement, to maintain the confidentiality of all facts and particulars concerning the
enterprise, regarding which the Client knows or reasonably can suspect that these are confidential.
This
duty of confidentiality also contains all data of the employees, customers, clients and other
business
contacts that has come to one’s knowledge on the basis of the Assignment.
Limitation period
In derogation from the statutory limitation periods, a limitation period of one year applies to all
claims towards Magic Investment Choice and (any) third parties engaged by Magic Investment Choice.
Privacy and cookies
The data and information provided by the Client to Magic Investment Choice will be saved
by Magic Investment Choice with due care and confidentiality.
Magic Investment Choice is only and exclusively permitted to use the Client’s personal data in the
context
of the execution of its obligation to supply, or for dealing with a complaint.
During visits to its website Magic Investment Choice can collate, by means of cookies, information
from
the Client regarding the use of the website.
The information collated by Magic Investment Choice by means of cookies can be used for functional
and
analytical purposes.
Magic Investment Choice is not permitted to lend, lease, sell, or in another manner disclose the
Client’s
personal data.
If, on the basis of a statutory provision or a judicial decision, Magic Investment Choice will be
obliged
to provide confidential information to third parties, and Magic Investment Choice cannot rely
concerning
this on a statutory right to decline to give evidence, or as the case may be a right to decline to
give
evidence acknowledged or permitted by the court with competent jurisdiction,
Magic Investment Choice cannot be held liable for compensation or indemnification. The Client will
also
not be entitled to terminate the Agreement on the basis of any damage arisen due to this.
The Client agrees to Magic Investment Choice approaching the Client for statistical research or a
client
satisfaction survey. If the Client does not want to be approached for research, the Client can make
this
known.
Magic Investment Choice retains the right to use the other data of the Client in anonymous form for
(statistical) research and database.
Amendment of the General Terms and Conditions
Magic Investment Choice has the right to unilaterally amend these General Terms and Conditions.
Amendments
will also apply with regard to Agreements that have already been concluded.
Magic Investment Choice will inform the Client by email of the amendments.
The amendments of the General Terms and Conditions will come into effect thirty days after the
Client
has been informed of the amendments.
If the Client does not agree to the notified amendments, the Client will have the right to terminate
the
Agreement.
Applicable law and disputes
The law of the Netherlands exclusively applies to all legal relationships that
Magic Investment Choice is
party to. This also applies if an obligation is wholly or in part executed abroad or if the Client
resides abroad.
Other languages
As well as the original Dutch version of these General Terms and Conditions, there is one other
version
of the General Terms and Conditions, translated into English.
The Dutch version of the General Terms and Conditions of Magic Investment Choice is the authentic
version.
This version of the General Terms and Conditions will take precedence in the event of the
explanation or
interpretation of the General Terms and Conditions. In the event of a difference in meaning or
interpretation between the two versions, then the Dutch version of the General Terms and Conditions
will
prevail.
