Terms and Conditions
Welcome!
Thank you for visiting Pandodigital UAB (Company registration number: 306291601, registration address: J. Basanaviciaus g. 26, Vilnius, Lithuania, LT‑03224) in partnership with various online payment institutions (“Payment Institutions”). You hereby agree to this Terms and Conditions (the “Terms and Conditions”) by and between you and Pandodigital , and agree to be legally bound by its terms and conditions, so please read them carefully. Please also note that there may be specific terms or conditions applicable to you as the user in a given jurisdiction, as may be detailed herein. If any term or condition of this Terms and Conditions is unacceptable to you, please do not visit, access, or use our services. Use of the words “we,” “us,” “the Company”, "the Platform" or “our” in this Terms and Conditions refers to Pandodigital (Company registration number: 306291601, registration address: J. Basanaviciaus g. 26, Vilnius, Lithuania, LT‑03224) and any or all of its affiliates.
Using our services
You hereby represent and affirm that you have the required legal capacity to enter into this Terms and Conditions by and between you and Pandodigital, and agree to be legally bound by the terms and conditions of this Terms and Conditions in their entirety. You agree and understand that by logging into your account or authenticating to our application programming interface (“API”) with your API key (“API Authenticating” or “API Authentication”) following any change to this Terms and Conditions, your login or API Authentication, as applicable, shall constitute your agreement to the amended Terms and Conditions by and between you and Pandodigital, and you agree to be legally bound by its terms and conditions as amended. Amongst others, this means that, if you log into your account or API Authenticate following an amendment to this Terms and Conditions, transactions that you or others have already undertaken, and benefits, such as trading fee discounts and rebates that you or others have earned, could be affected by the amended terms and conditions of this Terms and Conditions. You agree to, therefore, read this Terms and Conditions regularly. You agree and understand that we have the right to require your affirmative assent and continued acceptance of this Terms and Conditions, from time to time, as a condition of you accessing or using any of the Services (as defined below), logging into your account, or API Authenticating, as applicable. If you do not agree to be bound by this Terms and Conditions, you should not access or use any of the Services, login to your account, or API Authenticate. Should you disagree with this Terms and Conditions (including any changes or amendments thereto), please suspend immediately any usage relating to the Services and close your account in accordance with the Account Closure section.
In order to use our Services, you must first successfully provide the required identification information pursuant to our Bank Secrecy Act (“BSA”) and Anti-Money Laundering (“AML”) Compliance Program (collectively, our “BSA/AML Program”).
PLEASE NOTE THAT THE SECTION ON DISPUTE RESOLUTION CONTAINS AN ARBITRATION CLAUSE AND CLASS ACTION WAIVER. BY AGREEING TO THIS TERMS AND CONDITIONS, YOU AGREE TO RESOLVE ANY DISPUTE THROUGH BINDING INDIVIDUAL ARBITRATION, WHICH MEANS THAT YOU WAIVE ANY RIGHT TO HAVE THE DISPUTE DECIDED BY A JUDGE OR JURY, AND YOU WAIVE ANY RIGHT TO PARTICIPATE IN COLLECTIVE ACTION, WHETHER THAT BE A CLASS ACTION, CLASS ARBITRATION, OR REPRESENTATIVE ACTION.
Please print and keep a copy of this Terms and Conditions, but do take note we reserve the right to change these terms and conditions at any time with or without notice to you. A copy of the latest version of this Terms and Conditions will be available on this page.
DISCLAIMER
NOTWITHSTANDING AND WITHOUT LIMITING THE TERMS HEREUNDER, YOU AGREE, UNDERTAKE, UNDERSTAND, AND OTHERWISE REPRESENT THAT Pandodigital WILL NOT BE LIABLE FOR LOSSES OR DAMAGES ARISING OUT OF OR IN RELATING TO: (A) ANY INACCURACY, DEFECT OR OMMISSION OF DIGITAL ASSETS PRICE DATA, (B) ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATE, (C) INTERRUPTION IN ANY SUCH DATA, (D) REGULAR OR UNSCHEDULED MAINTENANCE CARRIED OUT BY US AND SERVICE INTERRUPTION AND CHANGE RESULTING FROM SUCH MAINTENANCE, (E) ANY DAMAGES INCURRED BY OTHER USER’S ACTIONS, OMMISSIONS OR VIOLATION OF THESE TERMS, (F) ANY DAMAGES CAUSED BY ILLEGAL ACTIONS OF OTHER THIRD PARTIES OR ANY ACTIONS WITHOUT AUTHORISATION BY US.
Applicable Laws and Regulations
Your conduct on Pandodigital is subject to the laws, regulations, and rules of any applicable governmental or regulatory authority (the “Applicable Laws and Regulations”) including, but not limited to:
• MiFID II/MiFIR;
• Digital Markets Act (DMA);
• Laws, regulations, and rules of relevant tax authorities;
• Applicable regulations and guidance set forth by regulating authorities;
• The Banking Law of Lithuania
• GDPR
You unequivocally agree and understand that by signing up for this fiat service, you hereby agree and undertake to act in compliance with and be legally bound by this Terms and Conditions as well as the Applicable Laws and Regulations. For the avoidance of doubt, the receipt of all trading fee discounts and rebates and continued use of your account is conditioned on continued adherence at all times to this Terms and Conditions and all Applicable Laws and Regulations. Your transactions, cooperation or any dispute with Pandodigital will be governed by Lithuanian law.
Digital Assets
As used herein, “Digital Asset” means a digital asset (also called a “cryptocurrency,” “virtual currency,” “digital currency,” or “virtual commodity”), such as bitcoin or ether, which is a digital representation of value based on (or built on top of) a cryptographic protocol of a computer network.
Wallet
The user would be given private keys that identify it as belonging to the user. Public keys are similar to account usernames as it would be used to identify the wallet so that the user can receive tokens without revealing their identity. Private keys are similar to personal identification numbers and this would allow the user to access the wallet and check balances, initiate transactions, and more. If the user loses either of these keys, the wallet is effectively useless.
The user’s wallet’s crypto assets would be securely kept with us in “hot” wallet, “cold” wallets and “warm” wallets. Transfer between hot and cold wallets are managed at the sole discretion of us. Users who hold large amounts of cryptocurrency typically should not keep significant amounts of crypto in hot wallets.
The user is to inform us at once if there is suspicious activity in any wallet. We would not be responsible for any loss beyond its control.
Although we will attempt to deliver Digital Currency to you as promptly as possible, funds may be debited from your selected payment method before the status of your Digital Currency Transaction is shown as complete, and the Digital Currency is delivered to your Digital Currency Wallet.
Your Transaction
BY CLICKING THE BUTTON BELOW OR OTHERWISE USING SERVICES PROVIDED BY PAYMENT INSTITUTIONS, YOU HEREBY AGREE NOT TO HOLD Pandodigital RESPONSIBLE FROM ANY LOSS AND/OR DAMAGE RESULTING FROM ANY TRANSACTION, AND HEREBY AGREE NOT TO SEEK ANY REMEDY AGAINST Pandodigital WITH RESPECT TO THE TRANSACTION. CRYPTOGRAPHIC TRANSACTIONS ARE BY NATURE IRREVERSIBLE AND Pandodigital HAS NO CONTROL OVER ANY TRANSACTION AND IS NOT ADVISED OF THE TERMS THEREOF; Pandodigital CANNOT MAKE ANY WARRANTIES REGARDING THE TRANSACTION, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES REGARDING THE FAIRNESS OF THE PRICING OF THE TRANSACTION. BY USING, ACCESSING, OR OTHERWISE VISITING OUR SERVICES YOU HEREBY ACKNOLEDGE, AGREE, AND REPRESENT THAT YOU HAVE NOT RELIED UPON ANY OTHER STATEMENT OR AGREEMENT, WHETHER WRITTEN OR ORAL, WITH RESPECT TO YOUR USE AND ACCESS OF THE SERVICES.
You may purchase Digital Asset using your bank card through a third party service offered by Payment Institutions, subject to their terms of use.
Refund
Kindly note that there may be situations where the transaction(s) carried out may not be correctly matched or settled (for example, incorrect transaction information is provided). In this case, Pandodigital UAB may, as determined according to the applicable circumstances under Pandodigital UAB’s absolute sole discretion, to have your transaction refunded, or to have the corresponding digital asset credited to your account. Under each circumstance, you may be liable to bear the corresponding processing fees, or exchange rate fluctuation, as may be applicable or as otherwise published by Pandodigital UAB or the payment institutions from time to time.
Withdraw
All Users’ deposits are held in cold storage, for security reasons, however, withdrawal requests - for all cryptos - are automated. In most cases, withdrawals are almost instant and normally should take no longer than 1-2 hours to be processed.
Prohibited Activity
Pandodigital does not permit the use of the platform for any prohibited activity in your account, including but not limited to: use on any dark market, ransomware, mixing service (i.e., a mixer or tumbler used to obscure the source of funds), or illegal activity that would violate, assist in violation of, or cause Pandodigital to violate any Applicable Laws and Regulations (as defined in the ‘Applicable Laws and Regulations’ section), or which would involve proceeds of any unlawful activity (collectively, “Prohibited Activity”);
You agree and understand that we have the right to immediately (i) suspend your account and any related account, (ii) freeze/lock the funds and assets in all such accounts, and (iii) suspend your access to Pandodigital , if we suspect, in our sole discretion, any such accounts to be in violation of our Prohibited Activity policy.
Money Passes
Neither you nor any related party shall prearrange the execution of transactions on Pandodigital for the purpose of passing money between accounts. All transactions executed on Pandodigital must be made in good faith for the purpose of executing bona fide transactions, and prearranged trades intended to effectuate a transfer of funds from one account to another are strictly prohibited.
Privacy of Information
You agree that the information contained in your User Account is only for you and that you will not cause others to access or rely upon it (other than your tax advisor or attorney, or as otherwise prescribed by law) without our prior Written Consent. We agree that we will keep such information confidential, subject to the following paragraph.
You acknowledge and agree to the collection, use, and disclosure of your personal information in accordance with Pandodigital ’s Privacy Policy, which is incorporated into this Terms and Conditions by reference.
Anti-money Laundering
To meet regulatory requirements and to protect your assets, the Platform or the payment channels will verify your identity information and other documents. If you fail to complete verification as required by the Platform or the payment channels, you will not be able to use the Service, and the Platform or the payment channels shall have the right to impose restrictions on your account (including but not limited to blocking or deleting relevant services at any time without notice), and suspend, discontinue or even terminate the Service provided to you, with or without notice, in our absolute sole discretion.
During your use of the Service, you shall make the following anti-money laundering commitments, together therewith undertake, observe, and agree:
All of your assets are legitimate, safe assets owned by you in law and in equity. There are no assets related to terrorist financing, money laundering or other criminal activities;
You shall not use the Platform or the payment channels to launder money to cover up the illegal source of your assets and obtain illegal profits; and you shall not use the Service for any illegal and criminal activities such as money laundering and terrorist financing, or provide financial support or disguised assistance for terrorist financing and money laundering.
In case of any suspicious change to your information, we shall have the right to re-identify or re-verify your information, and shall, based on re-verification results, decide whether to continue to provide you with the Service or whether to impose restrictions on your account (including but not limited to blocking and deleting relevant services at any time without notice), and suspend, discontinue or even terminate the Service provided to you.
Know-Your-Customer
In accordance with the laws and regulations of relevant jurisdictions, we are obliged to conduct certain anti-money laundering measures including collecting certain personal or corporate information from you (the 'KYC Process'), and in light of the nature of entities concerned, the content of your information as it is collected by us may vary. In principle, we will collect the following information of yours if you have registered as an individual:
(a) Basic personal information: your name, address (and permanent address, if the two are different), date of birth and nationality, and other available information. Identity authentication shall be based on documents issued by the official or other similar authorities, such as passports, identity cards or other identity documents as are required and issued by relevant jurisdictions.
(b) Valid photo: before you sign up, you must provide a photograph showing you holding your identity document in front of your chest; and
(c) Contact information: telephone/mobile phone number and valid email address.
If you are a company or any other type of legal entity, we will collect the following information of yours to determine the final beneficiary of your account or your trust account.
(a) Your corporation enrollment and registration certificates of the company; a copy of the articles of association and memorandum of the company;
(b) The detailed certification materials of the ownership structure and ownership description of the company, and the decision of the board of directors on designating the authorized agent of the company responsible for the opening and execution of the account of the company within the website;
(c) The identity documents of the directors, major shareholders of the company as well as the authorized signatory for the company's account with the website, as required in accordance with relevant rules;
(d) The company's main business address, and the company's mailing address if it is different from the main business address of the company. If the local address of the company is different from its main business address, the company shall be deemed to be a high-risk customer, and consequently the company will be required to provide additional documentation; and
(e) Other certification documents, documents issued by competent authorities and other documents we may deem necessary in light of the laws and regulations of relevant jurisdictions and in light of the specific nature of your entity.
The identity verification requirements are as follows:
(a) You are required to provide both the front and back sides of your identity documents.
(b) You are required to provide us with a photograph showing you holding your identity documents in front of your chest.
(c) Copies of certification documents shall be checked against the originals thereof. Nonetheless, if a trusted and suitable certified person can prove that such copies are accurate and comprehensive duplicates of the originals thereof, such copies shall be deemed as acceptable. Such certifiers include ambassadors, members of the judiciary, magistrates, etc.; and
(d) The identification of the ultimate beneficiary and controller of the account shall be based on the determination of which individuals ultimately own or control the direct customer and/or the determination that the ongoing trade is performed on the behalf of others. If you are a business enterprise, the identity of major shareholders thereof (for example, those holding 10 % or more of the voting equity in such business enterprise) shall be verified.
The information submitted by you will be kept to a standard in conformity to applicable laws and our Privacy Policy, which is made available on Pandodigital's Website.
Account security
Please use the 2-factor authentication when logging in and keep your password safe.
You shall properly use and keep your account and login password, capital password, mobile phone number bound to your registration, and mobile phone verification code received by your mobile phone. You shall be fully responsible for any actions and consequences caused by using your account and login password, capital password and mobile phone verification code. When you find your platform account, login password, capital password or verification code is used by a third party without your authorization, or when there are other account security issues, you shall notify the Platform and the Payment Channels immediately and effectively, and the Platform and the Payment Channels shall have the right to take action on your request within a reasonable time, provided that the Platform or the Payment Channels shall not be liable for any consequences (including, but not limited to, any of your losses) that may have occurred prior to such action.
You shall not give, lend, rent, transfer or otherwise dispose of your account to others without the consent of the Platform or the Payment Channels.
You shall make your own judgment on the information you have access to while using the Service and shall bear all risks arising from the use of such information, including risks arising from reliance on the correctness, completeness or usefulness of such information. The Platform cannot and will not be liable for any loss or damage caused to you as a result of the foregoing risks.
Prohibited Countries
Notwithstanding and without prejudice to other parts of this Terms and Conditions, we reserve the right to suspend, modify or otherwise terminate the Service to users who do not comply with the international standards against money laundering, who have breached or, in our absolute sole discretion deem or suspect to be in breach of, this Terms and Conditions, or who may be regarded as political and public figures; we reserve the right to suspend or terminate a trade identified as suspicious based on our own assessment, which, however, does not breach any of our obligations and duties to you. In addition, we reserve the right to refuse to provide Service to residence from the following countries: The Russian Federation, North Korea, Cuba, Sudan, Syria, Iran, Yemen, Zimbabwe, Myanmar, Lebanon, Libya, Bolivia, Ecuador, Bangladesh, Somalia, Iraq, Congo Democratic Republic (Golden), Central African Republic, Kyrgyzstan, Burundi, Afghanistan, Macedonia, Ethiopia, Guinea-Bissau, Guinea, Liberia, Trinidad and Tobago, Venezuela, Serbia, Crimea, Mainland China, Singapore, the United States, Italy, Canada (hereinafter as 'Prohibited Countries'. The Prohibited Countries list is non-exclusive and is subject to amendments from time to time, with or without notice to you. You agree to regularly inspect the Prohibited Countries list and willingly close your Account pursuant to this Terms and Conditions should you find yourself residing in one of the Prohibited Countries.
Preventing Victim Assisted Fraud
To protect your financial security, we set up ID Confirmation Photo (IDCP) process for elderly or vulnerable people, if necessary, we may ask for you show your ID document and a handwritten note to confirm that you are aware of the purpose of your payment.
Although we use third party tools to fight social engineering and device takeover fraud or imposter fraud, you are also required to double-check your account details and payee before making a payment to prevent fraud. Without prejudice to other provisions of this Terms and Conditions, Pandodigital will not be liable for any loss or damage suffered by you in connection to any fraud or similar activities.
Miscellaneous
By agreeing to this Terms and conditions you acknowledge and agree that Pandodigital, in the interest of security, reserves the right to record all telephone conversations, internet conversations including chat, and any meetings between you and Pandodigital .
You furthermore agree that Pandodigital reserves the right to monitor your use of the Services on the website and that the resultant information may be used by Pandodigital for its internal business purposes.
You acknowledge that this Terms and Conditions is reasonable, valid and enforceable. However, if a court of competent jurisdiction finds any of the provisions of this Terms and Conditions to be unenforceable, it is the intention of the You and Pandodigital that such provision be reduced in scope by the court only to the extent deemed absolute necessary by that court to render the provision reasonable and enforceable.
Neither the failure nor delay by Pandodigital in exercising any right hereunder will operate as a waiver of such right, and no single or partial exercise of a right will preclude any other or further exercise of such right.
Any claims arising from this Terms and Conditions will be governed by and construed in accordance with the laws of Lithuania and shall be subject to the exclusive jurisdiction of the Courts of Lithuania.