General Terms and Conditions of LIOning Service Ltd.
§1 Scope and provider
1. These General Terms and Conditions (GTC) apply to all orders and services that you transact with LIOning Service Ltd.
Service-Hotline: +44 20 81 44 28 81
2. The services on our website are aimed exclusively at buyers who have reached the age of 18. LIOning Service Ltd. must be notified immediately in writing by email of any loss or limitation of legal capacity. In addition, any change to the data provided must be communicated immediately by email. Legal entities and companies must be made known to LIOning Service Ltd. If important data such as changes to one's email address are not communicated in good time to LIOning Service Ltd., any written declarations from LIOning Service Ltd. shall be deemed to have been received and accepted.
3. Our deliveries, services and offers are made solely on the basis of these General Terms and Conditions. The General Terms and Conditions therefore also apply to all future business relationships with companies, even if they are not expressly agreed again. The taking into account of any general terms and conditions of the customer's that contradict our General Terms and Conditions is hereby already excluded.
4. The contract language is exclusively German.
5. You can retrieve and print out the currently valid General Terms and Conditions on our website.
By accepting these General Terms and Conditions, the customer or user expressly declares that they have read and understood all information and advice on the website www.lioning.eu about the functionality of the packages offered, in particular the additional terms and conditions, including the notes on risk, and that they have obtained additional information. LIOning Service Ltd. shall announce and send any addenda and amendments to these General Terms and Conditions to the email address provided by the customer. These General Terms and Conditions can be printed out or saved by the user or customer in legible form. These are considered approved if the customer does not raise an objection to them by email within 14 days of publication. Such an objection must be legible and sent in German to the email address firstname.lastname@example.org. Otherwise, the addenda and amendments shall be deemed accepted from the customer's point of view. LIOning Service Ltd. is obliged to publicly publish the amended General Terms and Conditions on the website www.lioning.eu.
By registering, as is required to conclude a contract, and by inputting all necessary data and confirming these General Terms and Conditions, the customer or user declares that they have understood and accepted these General Terms and Conditions in their entirety. Entering the data and purchasing a packet results in a legally valid purchase contract being concluded.
The user or customer is also obliged to inform themselves on the website www.lioning.eu in the event of any questions or if anything is unclear. The user or customer is advised to keep themselves regularly informed of any innovations on the website already disclosed.
Within the scope of business relations, LIOning Service Ltd. offers computing power exclusively for mining cryptocurrencies and will transfer the mined quantity, minus the costs (electricity, maintenance), as mentioned in the price and services list, to the wallet address specified by the customer. LIOning Service Ltd. will neither convert the mined cryptocurrency into another currency for the customer nor sell it. We would like to point out that the mined cryptocurrencies will not be accepted by LIOning Service Ltd. for management on behalf of its users or customers or be managed by it on their behalf in any other form. Likewise, they will not be accepted for depositing; that is to say, specifically, no deposit transactions within the meaning of § 1 (1) Point 1 f the Banking Act (BWG) will be conducted. LIOning Service Ltd. only acts/will only act as a handler. We expressly point out that LIOning Service Ltd. may focus on the most profitable cryptocurrency at its own discretion.
LIOning Service Ltd. is not obliged to inform the user or customer of possible losses in relation to the mining or trading of cryptocurrencies. Nor does it have to provide any advice or information regarding actions performed independently by the customer. The customer or user acts in all respects and at all times on their own account and is furthermore obliged to keep themselves well informed and to have understood and accepted the risks.
Falls notwendig behält sich die LIOning Service Ltd. das Recht vor, die Identität sowie die Bonität des Kunden bzw. des Nutzers aufgrund von Betrug zu prüfen. Die Prüfung kann beispielsweise per Video-Identifikation oder Zusendung eines gültigen amtlichen Lichtbildausweises erfolgen. Es wird ausdrücklich darauf hingewiesen, dass es verboten ist Dienste und Technologien zu nutzen bei denen die IP-Adresse des Benutzers auf der Internetseite www.lioning.eu verborgen wird.
We would like to point out that the user or customer acts on their own account at all times.
§2 Notes on risk and hazards
1. Cryptocurrencies and everything connected with them entail a very high risk of loss, up to the total loss of the capital invested. The customer or user is advised to use only such financial means as they can afford to lose in full. The customer or user must ensure that they are familiar with and understand all risks related to cryptocurrencies (mining, trading). It is also recommended that the user or customer seek advice from an independent, competent person or institution and that this be done, without fail, before registering on the website www.lioning.eu.
2. Success in mining or trading cryptocurrencies in the past or in the present in no way indicates any guarantee of future success.
3. Cryptocurrencies are subject to very high fluctuations, and, therefore, past increases in value are no guarantee of future increases in value.
4. The mining and trading of cryptocurrencies is a high-risk and speculative business. Price fluctuations of 10 percent or more per day are not uncommon at all, and, therefore, money that is absolutely necessary for one's subsistence should never be used. Only free capital, the loss of which one can cope with, should be used. Stakes that are financed with loans are to be rejected. Total loss of the capital invested is possible.
5. The exchange rates and prices of cryptocurrencies are subject to the laws of the free market and are therefore based on the principle of supply and demand. If the supply exceeds the demand, the exchange rate/price falls; if the demand is greater than the supply, the price increases. Past price increases are no guarantee of future price developments. LIOning Service Ltd. has no influence on the exchange rates or prices of cryptocurrencies.
6. Even when sufficiently knowledgable, the customer or user can still incur large losses or suffer a total loss of the capital invested, since this is a speculative and high-risk business.
7. There is always the possibility of a total loss of the capital invested due to errors found in the relevant cryptocurrency system (blockchain). As a result, the cryptocurrencies can either become worthless or be stolen. Likewise, the acceptance of the cryptocurrency in question depends on the discretion of the contractual partner, and one therefore has no legal claim that obliges a party to accept cryptocurrencies as a means of payment or entitles one to exchange it for real currencies. A possible ban on cryptocurrencies by the state may lead to marketplaces having to cease operating entirely and the owners of the cryptocurrencies no longer being allowed or able to sell them.
8. The customer or user must attend to the security of their cryptocurrencies or wallets themselves. Various viruses, Trojans or malware can gain illegal, third-party access to the cryptocurrencies. The customer or user bears the responsibility for securing their investment at all times, and total loss is not excluded. If the "private key" of a cryptocurrency is printed out or saved on a hardware wallet, it must be protected against access by unauthorised persons.
9. LIOning Service Ltd. is not an issuer or producer of cryptocurrencies and is not otherwise responsible for the cryptocurrencies "product".
10. Cryptocurrencies are not legal tender and are, therefore, not guaranteed to be accepted by a state central bank or by a private issuer.
11. The trading and mining of cryptocurrencies is at all times undertaken at the customer's risk. For example, the price may change between the point at which a binding offer of purchase or sale is submitted and the point of conclusion of a purchase contract, or between the point of conclusion and of fulfilment of a purchase contract, to the disadvantage of the customer (or to the disadvantage of one of the parties to the purchase contract). There is also still a risk that the trading platform can be closed as such, either in whole or in part. No legal, deposit or investor protection is provided when a trading platform is closed, e.g., due to bankruptcy or due to the prohibition of buying, selling and trading cryptocurrencies. There is no central operator that the customer can resort to. It may also arise that, for example, a separate licence is prescribed for trading in cryptocurrencies. This, too, represents a significant restriction on the use of cryptocurrencies.
12. The customer or user must be aware that transactions are not reversible, which means that if the customer or user sends any amount of cryptocurrencies to the wrong person, this transaction can no longer be reversed or cancelled, and that the amount sent is, therefore, lost.
§3 Services of LIOning Service Ltd.
1. Cloud mining only provides the customer or user with the operational server hardware and mining software in accordance with the provisions of these General Terms and Conditions. The hardware and software are made available to the user or customer for use to the extent intended. However, there is no entitlement to any specific software or hardware being provided. A valid contract is concluded by the offer of LIOning Service Ltd. and by payment in full by the customer or user.
2. LIOning Service Ltd. transfer the mined cryptocurrencies to the customer's wallet at regular intervals, in accordance with the offer. Explicitly, no administration shall be undertaken nor shall any mined cryptocurrencies be accepted for depositing. Likewise, LIOning Service Ltd. shall not exchange any mined cryptocurrencies into another currency.
3. If a specific capacity (e.g., hashing performance) is mentioned, this applies to the total performance of the virtual server available according to the agreement. The customer may only make use of the agreed capacity. LIOning Service Ltd. shall in no event be liable if performance is reduced or delays or the like arise as a result of this capacity being exceeded.
4. LIOning Service Ltd. reserves the right to change the hash rate type and the amount of the contract purchased at any time. The change to the contract with regard to the hash rate type shall be determined by the current market price, and LIOning Service Ltd. will try, if possible, not to reduce the value or the computing power of the contract. This means that in the event of a forced change to the hash rate (such as, e.g., Ethereum or Zcash), LIOning Service Ltd. will try, as far as possible, to adjust the agreed contract at the time of a switchover so as to be the same or greater than the original value of the market price.
5. The customer shall not incur any costs, nor shall their contract be extended. They shall only receive the guaranteed mining yields.