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Terms and Conditions

Terms and Conditions

THESE TERMS OF SERVICE APPLY TO THE USE OF THE MYCOINCLOUD CLOUD MINING SERVICE AND MYCOINCLOUD WEBSITE LOCATED AT MYCOINCLOUD.COM AND ITS SUBDOMAINS. THE WEBSITE AND THE SERVICE IS THE PROPERTY OF MYCOINCLOUD.COM

THEY SET OUT HOW THE MYCOINCLOUD CLOUD HOSTED CRYPTOCURRENCY MINING SERVICE WORKS AND DESCRIBE ANY ASSOCIATED RIGHTS AND RESPONSIBILITIES. THE MYCOINCLOUD.IO TERMS OF SERVICE AND ANY INSTRUCTIONS, GUIDANCE AND SIMILAR INFORMATION FOUND ON THE WEBSITE (FROM TIME TO TIME) ALSO APPLY TO HOW YOU USE THE MYCOINCLOUD.IO CLOUD MINING SERVICE (TOGETHER THE "AGREEMENT"). BY USING THE WEBSITE AND/OR THE SERVICE, YOU AGREE TO THESE TERMS OF SERVICE; IF YOU DO NOT AGREE, DO NOT USE THE SITE AND/OR THE SERVICE.

MYCOINCLOUD RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO AMMEND, CHANGE, MODIFY, ADD OR REMOVE PORTIONS OF THESE TERMS OF SERVICE, AT ANY TIME. IT IS YOUR RESPONSIBILITY TO CHECK THESE TERMS PERIODICALLY FOR CHANGES. THE CURRENT VERSION OF THESE TERMS IS AVAILABLE

1.RISK NOTICE

1.1.Actions with Cryptocurrencies carry inherent risks. Due to the fact that Cryptocurrencies are unregulated and decentralized, their value is not insured by any legal entities. The value of any Contract, any amount of any Cryptocurrency is subject to change by MyCoinCloud due to a number of factors out of MyCoinCloud control. These factors include but are not limited to changes of mining difficulty and/or other mining parameters/properties, fluctuating price (in fiat currency to Cryptocurrency exchange rate, such as USD/BTC) of Cryptocurrencies, obsolescence of hardware and amortization of hardware. You understand and agree that the worth of any Contact and any amount of mined Cryptocurrency may lose all worth at any moment of time due to the nature of Cryptocurrencies. You understand that you are solely responsible for management of the Cryptocurrencies in your balance as well as any losses or charges incurred by any third-party entity.

1.2.Any information related to Cryptocurrency and Cryptocurrency mining that is/was posted, published and/or provided by MyCoinCloud via any channel of communication (including but not limited to: on the Website, in the Panel, via the Support Service, via Email newsletter, in social media) is subject to change.

2.REGISTRATION

2.1.By applying to register, you are making an offer to enter an agreement on these terms of service. Once submitted, you may not withdraw your offer.

2.2.Only we can decide whether applications will be accepted. If your application is accepted, a legal and enforceable agreement will be entered between you and us. Subject to any statutory rights you may have, you may not cancel the agreement covered by these terms of service and you will not be eligible for any refund.

3.CONTRACT TERM AND MINING TERM

3.1.These Terms of Service are valid indefinitely, even after Account termination.

3.2.The Contract Term for MyCoinCloud.io Cloud Machines is unlimited by default, unless stated otherwise. Contract is valid while profitable, until expired or until terminated (refer to section 13), whichever comes first.

3.3.Contracts with a stated expiry date will end on the date of expiry and the Cloud Machine is stopped.

3.4.Pre-order Contracts that are not activated immediately on purchase will activate on the stated date.

3.5.The Mining process continues until said mining is profitable. This means the Mining process will stop if the Maintenance and Electricity Fees will become larger than the Payout. Permanent Service termination (Hashrate type specific) if mining remains unprofitable for 14 days.

3.6.MyCoinCloud reserves the right to change the launch date, Contract Term and/or Mining Term of any Contract.

4.ACCOUNT

4.1.To register you will need to submit some personal information, a valid email address (that will be used as Username and for user identification) for your Website account (“Account”), a password (“Password”). To be able to withdraw funds you will need to enter at least one wallet for the Cryptocurrency you are mining. The Account may allow you to add more than one Cryptocurrency wallet.

4.2.When you add or change your wallet you will be asked for your phone number to receive verification code.

4.3.You must ensure that all information about you that is held by us is true, complete, not misleading and up to date.

4.4.The Username and Password will be allocated to you if you successfully apply for registration as a Miner.

4.5.You will need your Username and Password to access some parts of the Website. Your Username and Password are personal to you and must not be disclosed to any other person.

4.6.The number of accounts is limited to 1 for each beneficiary.

4.7.When you register, you may submit an order to administer a Cloud Machine. This order will allow you to specify the processing power of the Cloud Machine. Only MyCoinCloud can decide whether orders will be successful and acceptance is subject to availability, amongst other things.

4.8.If we accept your order, we will associate your Contract with your Account.

4.9.Confirmation of your order will be made by email, which will also contain an estimated commencement date for the Contract. The confirmed commencement date of the Contract will be notified to you in a subsequent email. We cannot say how long it will take to confirm the commencement date of the Contract.

4.10.Subject to the payment of any fees which may be applied, Miners will be able to receive Cryptocurrencies on the basis of the processing power of the Cloud Machine and the period of time for which the Cloud Machine is mining. Miners will only be able to administer the Cloud Machine during the Contract Term. Those Cryptocurrencies will be transferred to your wallet upon your request, if such request is confirmed.

4.11.If you lose access to your Account, MyCoinCloud may ask you to provide certain types of data, including personally identifiable information, to determine ownership of the Account. This may include, but is not limited to: proof of identity; proof of residence; proof of telephone number/email ownership and any identifiable activity in the Website, such as transaction IDs, order numbers, withdrawal amounts and others.

5.USE OF YOUR ACCOUNT

5.1.You may only mine Cryptocurrencies for your own benefit. By using the Website and/or the Service you confirm that you are not acting for the benefit of any other person or entity.

5.2. We are entitled to assume that any use of your Account is made by you. You are solely responsible and liable for any use of the Website or the Service under your Account or any other use of your Username and Password.

5.3.DO NOT SHARE YOUR PASSWORD WITH ANY OTHER PERSON OR ALLOW ANY OTHER PERSON TO USE YOUR ACCOUNT. WE ARE NOT LIABLE FOR ANY IMPROPER USE OF YOUR PASSWORD OR ACCOUNT BY YOU OR ANY OTHER PERSON. IF YOU HAVE REASONS TO ASSUME THAT ANY OTHER PERSON KNOWS YOUR PASSWORD, OR THAT YOUR ACCOUNT HAS BEEN USED BY ANY OTHER PERSON, YOU MUST INFORM US IMMEDIATELY.

5.4.If you do not have any contacts and If you do not log into your Account for 12 months, we may terminate the Account. You will be, if possible, notified in advance.

6.ADMINISTRATION OF MINING

6.1.During the Contract Term you can use the Website to:

6.2. change some parameters of the mining of your Cloud Machine; and

6.3. change your cryptocurrency-specific wallet addresses.

6.4.Subject to payment and additional Fees in advance, you can use the Website to:

6.5. add a new Cloud Machine; and

6.6. increase the processing power of your Cloud Machine.

7.PAYOUTS

7.1.Payouts will be made on every Monday unless there are any other specifics in your contract.

7.2.If there is delay of payments you will be notified.

8.FEES

8.1.We provide a platform which enables individuals to mine cryptocurrencies using our Mining Hardware. In return, we charge periodic maintenance and electricity fees (“Fees”) that are devised from usage of electricity as well as cost of maintenance of the said hardware. The Fees are based on the power of the Cloud Machine which is chosen in advance.

8.2.Monthly electricity fee is fixed and is 0.10 $ per kilowatt hour.

8.3.Monthly maintenance fee for BTC lifetime contracts is not fixed

8.4.Monthly maintenance fee for non BTC lifetime contracts is not fixed

8.5.There is no monthly maintenance fee for 3 Months BTC contracts

8.6. MyCoinCloud reserves the right to change the fees at any time without prior notice.

8.7.Fees are non-refundable.

9.PAYMENT TERMS, ORDER CANCELLATION, ORDER CHANGES AND ORDER REFUNDS

9.1. All invoices are issued in USD (United States dollar) by default. Payments performed in any other currency must account for the exchange rate of said currency to USD at the moment of invoice generation and any commissions for currency exchange.

9.2.A Customer is able to purchase a Contract using a variety of payment methods:

9.3.1.In Bitcoin via a Bitcoin Transfer: transfer of BTC to MyCoinCloud BTC account via Crypto payment system, the amount to pay depends on: sum of the order in USD, the USD/BTC exchange rate at the moment of the purchase and the transfer fee of the Bitcoin network (third-party terms and payment commission may apply);

9.4.In fiat currencies via a PayPal Transfer

9.5. A Customer has the right not to pay for the order in case the order has been created but not yet paid, if the Customer decides not to complete the order. The order will change status to “Timeout” after a given period of time (dependent on the payment method) and the Customer will not be obliged to proceed with the order. MyCoinCloud will not process requests to cancel unpaid orders, as it is intended the unpaid orders stay in “Timeout” status.

9.6.A Customer is solely responsible for the accuracy of payment

9.7.If the transferred amount is below requested, MCC reserves the right, at its sole discretion, to adjust the Contract accordingly to received funds or request the missing amount to be paid, before activating the Contract.

9.8.If the transferred amount is above requested, MCC reserves the right, at its sole discretion, to adjust the Contract accordingly to received funds, add the excessive amount to Customer’s Account Balance or return the excessive amount through the payment system the Customer has used to pay for the order initially.

9.9.If the Customer initiates the payment with incorrect/insufficient details and/or to the wrong destination account, MyCoinCloud will attempt, if possible, to process the order in a timely matter. If the destination address does not belong to MyCoinCloud (directly or via a third-party service) and/or is not related to MyCoinCloud in any way, MyCoinCloud will not be held responsible and will decline any claims.

9.10.MyCoinCloud is not obliged to proactively resolve payment related issues without a claim submitted by the Customer.

9.11.In case of payment related issues a claim must be raised:

9.12.A Customer has the right to raise a payment related claim/dispute by contacting support within 14 days from the creation of payment with proof of payment. Requests submitted after 14 days may not be processed.

9.13. MyCoinCloud reserves the right to request proof of payment, if there are suspicions or facts the payment was not received but the Contract was activated. The Customer is obliged to provide proof of payment within 14 days of reception of such request.

9.14.Proof of payment includes but is not limited to: MyCoinCloud order number, unique transaction ID or number, destination account, transferred amount, account statement from the payment system used.

9.15.If proof of payment is not provided within 14 days or provided proof is deemed insufficient and/or invalid:

9.16.If the claim was initiated by a Customer: MyCoinCloud reserves the right to decline Customer’s claim(s);

9.17.If the claim was initiated by MyCoinCloud: MyCoinCloud reserves the right to adjust/cancel related Contracts and adjust Customer’s Account Balance by amounts mined by related Contract.

9.18.MyCoinCloud reserves the right to switch and/or change any purchased Contract’s Hashrate type and amount at any time. The change of Contract Hashrate type will account for the current market price and MyCoinCloud will attempt, if possible, not to reduce the total value of the Contract being changed. This means, in the event of forced hashrate type change (such as SHA-256 to Scrypt) MyCoinCloud will attempt, if possible, to provide the substitution Contract of equal or greater total value than that of the initial Contract, according to the market price at the moment of change.

9.19.Unless otherwise provided by law or by a particular offer, all purchases are final and non-refundable. MCC reserves the right to issue refunds at MCC’s sole discretion. If we issue a refund, we are under no obligation to issue the same or similar refund in the future. This refund policy does not affect any statutory rights that may apply.

9.20. In case of a refund:

9.21.Customer will receive a reimbursement of spent funds to start the service, unless any funds were withdrawn from Customer’s Account Balance. If any amount was successfully withdrawn from the Account Balance, no refund requests will be processed on said Account.

9.22.MyCoinCloud has the right to nullify or deduct any hashrate and/or funds mined by the hashrate of the refunded purchase from the Customer’s Account Balance.

9.23.MyCoinCloud is not obliged to reimburse any funds spent for the Maintenance and Electricity Fees.

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