TERMS OF SERVICES PROVISION

TERMS OF SERVICES PROVISION

  • Service Provider’s Information (henceforth the “Provider”)
        1. Greek General Commercial Registry’s number: 149252701000
        2. Name: GX BLOCKS ENERGY P.C.
        3. V.A.T.: 801106783
        4. Country of Incorporation: Greece
      1. General Terms of Services Provision
        1. This website and the provided services are provided only to persons  that are familiar with cryptocurrencies.
        2. Customers must be at least 18 years old.
        3. The language of these terms and conditions has been selected to address only interested parties in accepted countries.
        4. If you are residing in or are a citizen of: the United States, Afghanistan, Pakistan, China, Algeria, Bolivia, Bangladesh, North Macedonia, Saudi Arabia, Vanuatu, Vietnam you may not receive services.
        5. These terms apply to all services concluded through this website and may be modified without prior notice. In any case, the modified terms will not apply retroactively.
  • Definitions
        1. Service Provider: GX Blocks
        2. Service: The service described in point 4 of these terms and conditions.
        3. Customer: The natural person that undertakes the obligations of the present terms for them personally or the legal person that undertakes them.
        4. Platform: The Hash Power Provision Service that is hosted on GXB Pool.
        5. Contract Term: The dates within which the service is provided
        6. Registered User: The natural or legal person that has completed the registration form and has been accepted by the Service Provider.
        7. Withdrawal: The periodic deposit to your Balance, dependent on the service.
        8. Balance: The sum of cryptocurrency mined by the use of the Service
  • Service Provision
        1. The Platform hosted  on the website www.gxblocks.io provides the capability to receive hash power that the Service Provider produces which may be used by the Registered User to mine crypto currency.
          1. The Registered User may choose to transfer the cryptocurrency mined to another cryptocurrency wallet.
        2. The Service Provider retains the right to deny service provision for any reason.
          1. Such cases may be non-compliance to KYC/AML measures that the Service Provider might take.
        3. The hash power provision service is provided on a best-effort basis.
        4. During the Contract Term you can use the Website to: 
          1. After appropriate KYC measures transfer cryptocurrency mined in a digital wallet based on the available digital currency formats that GX Blocks is offering .
          2. Change your cryptocurrency-specific wallet addresses
          3. Withdraw Options: 
            1. The user will have the following options to use for withdraw cryptocurrencies from their balance:
              1. Blockchain Network: Based in the protocol of the cryptocurrency.
              2. Changelly: Swap between hundreds of digital assets and thousands of pairs instantly, through our strategic partner Changelly.
  • Contract Terms, Fees and Plans
      1. The Service Provider retains the right to refuse withdrawals or the provision of the Services if there is a reasonable suspicion of criminal activity or if the Customer fails KYC/AML checks.
      2. The Contract Term shall start one day after the selection of the button “Proceed with Obligation to Pay”.
      3. Selected Algorithm: SHA-256 
        1. The use of one algorithm in connection with transaction verification for one or more blockchain protocols. At the commencement of the Term of the Service Provision, the Customer-selected algorithm may be employed for mining certain cryptocurrencies. 
      4. Hashrate: 10 TH/S
        1. This corresponds to the aforementioned algorithm for a fixed duration according to the selected plan, with a designated computing power of 10 TH/s.
      5. Hashrate Output:
        1. The Customer’s selection of an algorithm, selection of a quantity of computational power or hash rate, allocation of computational power, and use of the Services may result in the receipt of cryptocurrencies. The cryptocurrency output from the selected algorithm for the process transaction processing “mining”, is subject to variables according to the default formula for this “effort”:
      6. Algorithm: (Block Reward+Transaction fees per block)*(6*24*365)*(Total Purchased GX Contracts Hashrate/ Total Network Hashrate)
      7. VAT waivers are possible only for EU VAT registered entities.

    Contract

    Contract Term

    Fee

    Avg. Hashrate

    GX-S

    365 days

    280$ (VAT is excluded)

    10 th/s

    GX-M

    730 days

    550$ (VAT is excluded)

    10 th/s

    GX-L

    1460 days

    1000$ (VAT is excluded)

    10 th/s



  • Limitation of Liability
        1. The Service Provider makes no representation on the power provided through the Platform nor does it admit any liability thereof regarding their reliability to act upon for marketing/advertising strategies etc.
        2. Actions with Cryptocurrencies carry inherent risks. 
          1. 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 the Service Provider due to a number of factors out of the Service Provider’s 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 EUR/BTC) of Cryptocurrencies, obsolescence of hardware and amortization of hardware. 
          2. You understand and agree that the worth of any of the service contracts and any amount of mined Cryptocurrency may lose all worth at any moment of time due to the nature of Cryptocurrencies. 
          3. You understand that you are solely responsible for the management of the Cryptocurrencies in your balance as well as any losses or charges incurred by any third-party entity.
  • Conclusion time of a services contract
        1. From selecting the “Order With An Obligation To Pay” button.
  • Non-Service Provider Expenses and Fees
        1. Blockchain Transaction Fees
          1. Withdrawals
            1. The Service Provider does not charge any withdrawal fees. Any fees charged during withdrawal are subject to the blockchain network transaction fees.
            2. In order to perform transactions in the blockchain network, the Customer may be subject to processing fees that are not related to the Service Provider in any way.
          2. Third-Party Fees
            1. Certain digital wallets, wallet addresses, tools, and third-party software and devices used by the Customer may charge a fee. The user should be aware of and accept those charges as they are not controlled by the Service Provider.
  • Payment methods
        1. Credit/Debit cards; (Powered by Paypal)
          1. By using cards on our website in order to make purchases, you declare that you have the right to use them.
        2. Bank payment in the following currencies: Euros, U.S Dollars, Swiss Franc, British Pound.
        3. Paypal. (www.paypal.com)
        4. Coinbase Business ( www.coinbase.com)
        5. Coinpayments (www.coinpayments.net) 
  • Discounts/Gifts/Promotions
        1. The Service Provider from time to time may launch various promotional actions such as discounts, gifts etc. These promotions can also be performed on social media or through search sites. 
        2. In any case, the only correct representation of the Service Provider’s pricing is the one provided through this website.
  • Right of withdrawal
        1. You are entitled to withdraw from the services contract within 14 days of its execution.
          1. For the purposes of the exercise of the right of withdrawal the provision of the service shall be deemed to occur once the button  with “Order With An Obligation To Pay” is selected.
        2. At any time before the provision of the service the Customer may exercise the right to withdrawal.
        3. In order to exercise the right of withdrawal, you must notify about your decision to withdraw from this contract with a clear statement addressed via email to the Service Provider.
        4. You can use the attached template of withdrawal form, without this being mandatory.
        5. You can also fill in and submit your template form or any other statement from our website (www.gxblocks.io).
        6. If you use this feature, we will promptly transmit to you on a stable medium (e.g. email) a confirmation of your withdrawal.
        7. In order to comply with the withdrawal period, it is obligatory to send your statement on the exercise of your right of withdrawal, before the withdrawal period expires.
        8. Consequences of the withdrawal
          1. If you withdraw from this contract, we will return to you all the money or cryptocurrency received from you without unjustified delay, and anyway within 14 days from your decision to withdraw from this contract in execution of the Service Provision. Any mined cryptocurrency shall remain with the Service Provider.
          2. We will execute the above refund using the same payment method you used for the initial transaction, unless you have explicitly agreed to something different and in any case, you will not be charged for such a refund.
            1. If the payment was made in cryptocurrency the amount equal to the fee of the plan you purchased will be returned to you. The amount shall be calculated based on the 
  • Proprietary Content of the Service Provider
        1. The content of this website (including texts, graphics, images, photographs and software) is intellectual property of the Service Provider.
        2. It is forbidden, totally or partially, to republish and generally reproduce and broadcast the content of the website, store it in a database, broadcast in electronic or mechanical or any other form, in the original or in translation, or in other cover and modification of its form, content and development, without the written permission of the Service Provider.
        3. The appearance of the material on the website, should in no way be understood as a transfer, licencing, or granting the right to use or exploit it.
  • Personal Data Protection Policy
        1. As reflected on the website:
        2. By filling in personal data on this website, you declare that you have the authority by this person ,in order to provide them to the Service Provider.
  • Electronic Dispute Resolution
        1. The Service Provider supports the alternative dispute resolution through the EU extra-judicial Platform: 
          1. https://ec.europa.eu/consumers/odr/main/index.cfm?event=main.home2.show&lng=EL
  • Jurisdiction
        1. For any dispute regarding this contract or matters arising out of it, the courts of Athens, Greece shall have jurisdiction.
  • Applicable law
      1. The laws of Greece.
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