Terms of Use for the Altcoins.bg Platform

1. The service offered by Altcoins.bg is owned by "Lendix" EOOD with UIC: BG205491943 or another legal entity mentioned in these general terms. If needed, you can contact us at email: support@altcoins.bg, phone: 0884054550, address: Varna, 181 Vladislav Varnenchik Blvd., 1st floor, office 1, or through the live chat option.

 

2. For convenience, the platform and the company representing it will hereinafter be referred to collectively as "the Platform."

 

3. The Platform reserves the right to amend these "General Terms" at any time. In case of changes to the General Terms, our clients will be notified with a publication on the homepage.

 

Definitions:

For the purposes of these general terms, the following concepts are used:

4. Cryptocurrency unit or cryptocurrency refers to digital and/or virtual assets in the form of coins, tokens, or digital currency, where transactions are verified, recorded, and maintained by a decentralized system using cryptography, rather than a centralized authority. They have their own nominal value and are traded on an unregulated financial market with or without the mediation of an agent. Their price depends entirely on the movement of the unregulated financial market, over which Altcoins.bg or "the Platform" has no influence.

 

5. When the term "the Platform" is mentioned, it refers exclusively to Altcoins.bg and specifically to this platform.

 

6. For cryptocurrency exchange platforms other than Altcoins.bg, the term "exchange" or "crypto exchange" is used.

 

7. Decentralized exchange refers to the volume of cryptocurrencies on a decentralized exchange or an off-exchange cryptocurrency trade conducted on a peer-to-peer basis.

 

8. Conventional or fiat currency is synonymous with fiat money under these general terms and refers to currencies regulated by the ECB, BNB, other central banks, and regulatory authorities of countries. These include the euro, lev, US dollar, Canadian dollar, British pound, and similar currencies.

 

9. Transaction is any sending or receiving of cryptocurrency to a specific address.

 

10. Order is any purchase or sale order for cryptocurrencies.

 

11. Client is any individual, legal entity, or other entity (acting through its representatives) that uses the platform and/or performs an exchange of cryptocurrency for another cryptocurrency, fiat money, or vice versa.

 

12. User is a person who visits the platform’s address, regardless of whether they subsequently become a client.

 

13. Address or crypto address is the virtual location where a specific cryptocurrency is stored on the corresponding blockchain.

 

14. KYC stands for "know your client/customer" and refers to a questionnaire aimed at identifying the client and the origin of their funds in accordance with the Anti-Money Laundering Measures Act. The information collected about a client is stored throughout the entire cooperation between Altcoins.bg and the respective client, but for no less than 10 years. This questionnaire is provided to clients and/or users who intend to become clients by registering a user profile on the Altcoins.bg platform to legally fulfill the Platform’s obligations under Articles 3 and 4, items 18 and 38 of the Anti-Money Laundering Measures Act, which reflect the rules in accordance with applicable EU Directives on anti-money laundering measures.

 

15. The Platform informs its clients that, in accordance with the requirements of Articles 3 and 4 of the Anti-Money Laundering Measures Act, the Platform is obliged to conduct thorough client due diligence by collecting and preparing documents, storing them, performing risk assessments for its clients, and, in case of suspicion of money laundering, disclosing information to the competent state authorities.

Provisions for Conducting Exchanges

16.1 The service offered by Altcoins.bg is for the exchange of value between fiat (conventional) currencies and cryptocurrencies. Pricing depends entirely on the movement of the financial market, over which "the Platform" has no control or influence. Transaction fees on the network depend on its congestion at a given moment, and "the Platform" informs its users and clients that it cannot influence their value. In addition to the network transfer fees that must be paid and the market value of the respective cryptocurrency, "the Platform" deducts a commission for the exchange service, which is included in the exchange price displayed on "the Platform." All fees for value transfers via the client’s chosen network, financial partners, and others are transparently described in the order.

16.2 The services provided by Altcoins.bg are officially announced on our website and social media. Services offered on behalf of Altcoins.bg outside the official domain and its mentioned social media accounts should be considered fraudulent and will be prosecuted under the law.

17. The Platform exchanges cryptocurrencies for Bulgarian lev and euro.

 

18. The Platform is managed by Landix EOOD, and payments for orders are processed through Landix EOOD or another legal entity mentioned in this section of the terms.

 

19. The types of cryptocurrencies that can be exchanged through Altcoins.bg may vary based on the Platform’s discretion, with the available range always visible to users on our website.

 

20. The Platform can work with citizens who hold the following identification documents issued by Bulgarian authorities: ID card, driver’s license, passport, and residence permit.

 

21. The service allows any user to acquire an asset by buying or selling cryptocurrency units for Bulgarian lev at a rate calculated in real-time at the moment of the transaction. For purchases, the transaction moment is when the respective amount is received in one of the accounts of "Landix" EOOD. For sales, it is the moment when the client sends the required amount of the chosen cryptocurrency to our wallet. The amount in lev for sales is paid after receiving the necessary number of transaction confirmations.

 

22. To purchase cryptocurrency units, the user must provide a valid crypto address where they wish to receive the requested amount of cryptocurrency units and select their preferred payment method. The Altcoins.bg team offers the following options:

 

    1. Bank transfer to the Platform’s account – the client makes a transfer with the specified payment reference to the indicated bank account.

 

    2. EasyPay cash desk – the client pays for the order at a cash desk using a provided 10-digit unique code.

 

    3. Cash Terminal device – the client pays for the order at a machine using a provided 10-digit unique code.

 

23. To sell cryptocurrency units, the client must submit a request on the Altcoins.bg website, then send the requested amount from their cryptocurrency address and specify their preferred method for receiving the payment in lev for the transaction. Altcoins.bg is not responsible if a client sends a transfer to an incorrect address, and the respective cryptocurrency does not reach Altcoins.bg’s address.

 

24. Once the client pays the price, it is considered that "the Platform" has begun executing the service, and the client loses the right to cancel the purchase.

 

25. Altcoins.bg is not responsible when the client provides an invalid address for the transfer of the respective cryptocurrency. Altcoins.bg informs its clients that transactions recorded in the blockchain registry are irreversible and, once made, cannot be altered, stopped, or corrected, except in cases of a hacker attack on the respective blockchain or specific address.

 

26. Due to the high volatility of cryptocurrencies, the prices at the time of placing a purchase or sale order may differ from the price at the moment of the transaction. For this reason, the service provided by "the Platform" requires the amount to be automatically recalculated at the current rate at the time of the transaction. The client receives electronic confirmation of the price recalculation at the email address they provided. "The Platform" is not responsible in cases where the client loses access to their email address.

 

27. "The Platform" is not responsible for transactions incorrectly executed by the client. Cryptocurrency transfers are "one-way," making them technically irreversible, i.e., practically impossible to reverse.

 

28. "The Platform" recommends making transactions to wallets whose seed phrases you possess. "The Platform" is not responsible for transactions directed to wallets owned by third parties or platforms.

 

29. The Altcoins.bg Platform is intended for personal investments and cryptocurrency trading. Sharing login credentials with third parties is prohibited.

 

30. Altcoins.bg does not endorse investments in pyramid schemes, get-rich-quick platforms, work with financial advisors, brokers, financial managers, arbitrage, or automated platforms promising daily returns. Sending money from the Platform directly to such entities will be considered a violation of the Platform’s internal rules and may be penalized.

 

31. Every client undertakes to comply with the laws of the Republic of Bulgaria, the Platform’s general rules, and not to use it for illegal activities, fraud, money laundering, trading in prohibited products, services, or similar.

 

32. If a Platform client is investigated by Bulgarian state institutions, including the Police, Prosecutor’s Office, National Revenue Agency, etc., regarding non-compliance with Bulgarian laws or the rules set out in these "Terms of Use," the Platform reserves the right to take all necessary actions concerning that client to protect the Platform’s rights and those of its other clients. This may include restricting or deactivating an account, requesting additional information, reporting to state institutions under the Anti-Money Laundering Measures Act in case of suspicion of money laundering, and more.

 

33. The Platform reserves the right to protect its financial and reputational interests. In case of violations of the law or the Platform’s terms of use, the Platform will take all necessary measures to protect the data of its regular clients and its reputation. Violators of the general terms and those prosecuted by law will be charged the following additional reputational and administrative fees:

   33.1 - Processing documentation for high-risk clients: €199 one-time fee.

   33.2 - If the Platform or its employee/representative is required to provide testimony, a reputational fee of €299 per visit is charged. If information/testimony is required more than once for a single client, the fee is payable for each visit.

   33.3 - If the Platform or its representative is required to provide testimony in another city, an additional fee of €999 is charged, along with all applicable legal fees and honorariums.

   33.4 - For the charged fees, the Platform issues an invoice with a 14-day payment term, sent to the obligated client, who will be notified of the procedure by phone and/or any other contact method available to the Platform.

 

Exchange Limits and Data Protection

34. The minimum amount of cryptocurrency units that can be exchanged through the Platform’s service depends on the currency type but is 30, 50, or 100 BGN or the equivalent in cryptocurrency. The minimum amount is visible when placing an order on the Platform. The Platform processes personal data only in cases and in accordance with Article 5, Paragraph 2, Item 4 of the Personal Data Protection Act (PDPA), as well as in compliance with anti-money laundering requirements. The information exchanged between the Platform and its clients includes personal data, financial information, and business practices and ethics specific to the Platform. Therefore, all correspondence between the Platform and its clients is considered confidential and cannot be publicly shared by either party.

 

35. The maximum order amount is 30,000 BGN or the equivalent in cryptocurrency per order. The Platform has no restrictions on the number of orders a person can place within a given period.

 

36. We inform you that for orders with a total value exceeding 30,000 BGN, we are required to store client information in accordance with the Anti-Money Laundering Measures Act. This information consists of a questionnaire completed by each client with a verified account, and we must collect and store information about the source of your income.

 

37. For a single order equal to or exceeding 10,000 BGN, clients must specify the origin of their funds.

 

38. When executing requested exchange operations, the Platform uses the data provided by clients as submitted and is not responsible if the data proves to be inaccurate, misleading, or untrue.

 

Disclaimer of Liability

39. The Platform is not liable for any technical issues or damages resulting from software, computer equipment, internet connectivity, negligent behavior by a client or third parties engaging in illegal activities, or unforeseen or extraordinary circumstances.

 

40. The Platform is also not liable for actions performed on behalf of a client who has voluntarily shared their crypto wallet access details with third parties or has failed to take necessary measures to secure their software, computer equipment, or internet connection. Users are advised to use highly complex passwords and ensure their confidentiality.

 

41. Cryptocurrencies are high-risk assets. No information provided on the Altcoins.bg platform constitutes an investment recommendation and is provided for informational purposes only. The Platform is not liable for losses incurred from cryptocurrency investments.

 

42. The Platform is not responsible for the reliability or terms of operation of third-party intermediaries whose services clients use for transactions mentioned in these General Terms. Clients should familiarize themselves with the terms of service of our intermediaries directly from those third parties.

 

Reserved Rights

43. The Platform reserves the right to store, analyze, and use statistical and marketing information regarding interest in the Altcoins.bg service’s content, as well as the methods of searching, accessing, and using it—without including any personal data or enabling individual or group identification of clients.

 

44. The Platform reserves the right to modify the functionality, design, order process for buying and selling cryptocurrencies, and any other information on the Altcoins.bg website to improve service and optimize the offering.

Conclusion of a Transaction for the Purchase and/or Sale of Cryptocurrencies

45. For a valid transaction for the purchase or sale of cryptocurrency to be concluded, the facts and circumstances described in this section must be present.

 

46. The client must visit the Altcoins.bg platform and register a user profile, verifying their account.

 

47. The client must declare their intent to purchase or sell cryptocurrency.

 

48. The client must provide the minimum necessary information for conducting a transaction when requesting a purchase and pay the price.

 

49. The client must provide an email address and phone number for contact, as well as all required information in accordance with our KYC questionnaire.

 

50. The client consents to the collection and processing of their personal data, which is minimally necessary for executing their order and in accordance with the Anti-Money Laundering Measures Act (Article 3).

 

51. The client confirms their registration via a link sent to the email address they provided.

 

52. The client agrees that the provided email address may be used for communication and feedback regarding transactions for the purchase and sale of cryptocurrencies conducted through the platform. The client may update their contact information at any time by editing it in their user profile. The Platform is considered notified of the change immediately after the client confirms it.

 

53. The client may explicitly consent to receiving unsolicited commercial communications if they wish.

 

54. The client receives information via email about their right to cancel any specific order and has the option to confirm or cancel it after receiving the email.

 

55. By confirming the order, the client agrees to the general terms, which have the force of a written contract for the parties to the transaction.

 

56. After confirming a specific order, the client cannot exercise their right to cancel the order, as it falls under exceptions per the Electronic Commerce Act due to the high volatility of financial markets.

 

57. In case of non-payment, incomplete payment, or no payment from the client, Altcoins.bg, respectively "the Platform," may assume that the client has withdrawn and cancel (delete) their order.

 

58. When a client places an order for purchase or sale, its validity period varies depending on the method of execution. If the client does not send confirmation by then, the order may be deleted and/or canceled.

 

59. In case of partial payment, but not less than 100 BGN, Altcoins.bg, respectively "the Platform," assumes that the client has unilaterally changed the order value and provides cryptocurrency of the requested type up to the paid amount. In this case, any agreed discounts between the client and the Platform are void, except when the difference is within the margin of statistical error (5-10 cents). If a payment exceeds the amount specified in the order, Altcoins.bg assumes the client has unilaterally changed the order value and provides cryptocurrency of the requested type up to the paid amount. In this case, all agreed discounts and preferential rates between the client and the Platform remain valid.

 

60. When placing an order for the purchase of cryptocurrency, the client indicates whether they wish to receive an invoice or similar document for the completed order.

 

61. In accordance with current Bulgarian regulations, an invoice can be requested within 5 days of placing an order and after providing the legally required information necessary for an invoice.

 

62. Minimum required information for concluding a transaction:

   a. Name of the person making the purchase or sale;

   b. Email address and phone number for contact.

   c. Have a completed KYC

63. If the client requests an invoice, they must provide:

   a. Commercial name (company name), UIC or BULSTAT, whether they have a VAT number and provide it, address, responsible person, email address for sending the invoice, phone number for contact, and whether they are acting as a manager/legal representative of a company, an authorized person, or in their personal capacity. If acting in their personal capacity, the following must be provided:

   b. Full name, Personal ID Number (EGN), address, whether they have a VAT registration, email address for sending the invoice, and phone number for contact. If the information specified in this point is incomplete or missing, Altcoins.bg may not issue an invoice despite the client’s request.

 

64. When filling out an order, the client must complete all mandatory fields.

 

65. Otherwise, the order is considered invalid and will not be executed.

 

66. Altcoins.bg, respectively "the Platform," is not responsible for incorrectly entered data by the client, and its liability for incorrect, inaccurate, or partial execution is void. If the client places an invalid order, any lost profits or damages caused by delayed handling of funds or cryptocurrencies are at the client’s expense, and "the Platform" is not liable for any losses or missed profits.

 

67. After entering the data, the client must review it again and check for inaccuracies.

 

68. The order is signed by clicking the "continue" button or another appropriate method explicitly indicated in the electronic form.

 

69. When placing an order for purchase, the client is informed of the current market prices and the estimated value of their purchase/sale.

 

70. When processing a purchase order, exactly what the client ordered is executed.

 

71. The final price paid by the client includes:

   a. The value of the requested cryptocurrency;

   b. The network transfer fees (sometimes referred to as gas);

   c. The markup of Altcoins.bg, which represents our profit from the transaction.

 

72. The client may cancel the purchase/sale of cryptocurrency:

   a. While filling out the order;

   b. By not confirming (paying for) the order;

   c. After confirming the order, their right to cancel is void without the explicit written consent of the Platform.

 

73. In certain situations, due to regulations, extended due diligence under the Anti-Money Laundering Measures Act, or other circumstances dependent or independent of the Platform, it may refuse to execute any transaction. In such cases, the Platform is obligated to inform the client appropriately and refund the amount received from the client, deducting the transfer costs. These costs may vary depending on the payment method but are provable by the Platform at any time.

 

74. For the purposes of concluding a transaction, Altcoins.bg’s contact details are as follows:

 

Address: Varna, 181 Vladislav Varnenchik Blvd., Office 1

 

Email: support@altcoins.bg

 

Phone: 0884054550

 

75. For the current status of their order, the client can track it on "the Platform" and make inquiries via email or live chat.

 

76. The client agrees that the execution of the transaction by Altcoins.bg depends on the speed of the network and the timelines for bank transfers when payments are made via bank, which are beyond the control of the Platform or its owners.

 

77. In case of an issue with the execution of the order, Altcoins.bg notifies clients electronically or via phone call.

 

Refund Policy

78. Cryptocurrency transactions are irreversible, and therefore the Platform cannot reverse or refund funds for a completed order.

 

79.1. If a client wishes to reverse a transaction, they may sell back the received currency to the Platform at any time at the market rate displayed on the Platform.

79.2. If a client sends cryptocurrencies via the wrong network, different from the one specified in their order, the coins are generally lost. If recovery is possible, the Platform may assist. Upon request, the Platform will respond within 7 days after a thorough investigation to determine if recovery is feasible. If recovery is possible, the process takes up to 30 days, and the fee is 5% of the amount, but not less than 100 BGN.

80, As part of its policies and obligations under the Anti-Money Laundering and Terrorist Financing Measures Act, the Platform reserves the right to conduct extended due diligence on any client. As part of this check, the Platform is required to request all necessary documentation under the Act to establish the origin of funds and their destination.

 

80.1. If the client refuses such a check, the Platform is obligated to refund the funds to the client’s account from which they were received. The Platform will deduct all transfer fees and the fee for extended due diligence and commission for successfully completing the transaction, totaling 1.9% excluding VAT, but not less than 50 BGN, due to the transaction being canceled through no fault of the Platform.

80.2. The Platform is obligated and reserves the right to notify competent authorities in cases where it suspects a client is involved in money laundering, terrorist financing, or other illegal activities attempted through the Platform.

80.3. After conducting extended due diligence, the Platform reserves the right to refuse to execute a transaction with any client. In such cases, the Platform is obligated to refund the client’s funds to the account from which they were received, after deducting the fees specified in Article 76.1 for extended due diligence.

80.4. In case of a conflict between any part of the website and the current general terms of use, the general terms in Bulgarian take precedence.

Last updated: January 13, 2025