Client Agreement Signature Document

Client Agreement
  1. Your Agreement with Us
  2. Your AMDAX Account
  3. Client Acceptance Procedure
  4. Trading
  5. Custody
  6. Private Investment Management
  7. Fees
  8. Risks
  9. Notice of Changes
  10. Questions, Feedback, and Complaints

Welcome to AMDAX

Welcome! Thank you for using AMDAX, a digital asset platform operated by and proprietary to AMDAX B.V. (“AMDAX” or “we”, “us” or “our”). AMDAX is the first crypto service provider registered by the Dutch Central Bank (De Nederlandsche Bank) (“DNB”). We are registered with DNB as (i) custodian of Digital Assets (as defined below) and (ii) provider of exchange services between Digital Assets and fiat currency (euro). DNB supervises compliance with crypto related laws and regulations, including with respect to anti money laundering and the prevention of terrorist financing.

In our agreements with you, we use the term “Digital Asset” (also called “cryptocurrency”, “virtual currency”, “digital currency” or “crypto”), which means “a digital representation of value that is not issued or guaranteed by a central bank or a public authority, is not necessarily attached to a legally established currency and does not possess a legal status of currency or money, but is accepted by natural or legal persons as a means of exchange and which can be transferred, stored and traded electronically.”

Your Agreement with Us

By signing this ‘client agreement signature document’, you are entering into an agreement with us for the provision of our AMDAX services. The agreement consists of this document and its appendixes 1 through 4, namely the Client Agreement, Privacy Policy, Custody Agreement and CAP/AML Program (the “Related Documents”), which appendixes are all incorporated herein by reference (together, the “Agreement”). By opening an account with us and using any of the AMDAX services offered from time to time, you agree to this Agreement between you and AMDAX and are legally bound by its terms and conditions in its entirety. We recommend reading the entire Agreement thoroughly. Your Agreement is made available to you in your AMDAX Account.

This document presents a non-binding summary of the Related Documents, which describes the main terms and conditions and explains the definitions (if not defined in this document). We have taken the utmost caution with summarizing the relevant rights and obligations. However, a summary can never surpass the original document. If you find any discrepancies or contradictions between this document and the Related Documents, the terms set out in the Related Documents prevail.

This document is in English, and so are the Related Documents. If anything is unclear, please do not hesitate to ask us for clarification.

The parties to this Agreement are:

  • AMDAXV., a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid), incorporated under the laws of the Netherlands, whose registered office is in Amsterdam, the Netherlands and whose office address is Beursplein 5, 1012 JW Amsterdam, the Netherlands, and registered with the Chamber of Commerce under number 74458477;

 and

  •  [name], born on [date of birth], residing at [address], with email address [emailaddress].

Your AMDAX Account

We take great pride in offering a personalized approach for each individual client. We will take reasonable care and efforts in performing our responsibilities and the AMDAX Services. Your needs are most important to us and are leading in our relationship with you. This means that besides offering our AMDAX Services, we will always work closely with you to fulfil any crypto request you might have.

Your AMDAX Account is personal to you and only you should have access to it. To keep your AMDAX Account safe and secure, we request you to secure the AMDAX Account with at least two forms of authentication (2FA). Please be aware that access to your AMDAX Account by anyone other than yourself is not allowed, except for authorized representatives.

An AMDAX Account has the following sub-accounts:

  • one or more User Accounts;

a fiat currency account (“Fiat Account”) that is used for your deposits and withdrawals of fiat currency. The Fiat Account shows your fiat currency balance. We operate this account from a German bank, this means you will get a bank account with a German IBAN number.

  • a Digital Asset account where your Digital Assets will be securely stored. We can store all kinds of Digital Assets for you if supported by us, either purchased via us or the ones you purchased somewhere else. We are a full-reserve custodian. This means we do not lend out any of your Digital Assets. All the Digital Assets you deposit, are always at your disposal.

Your transaction history is always available for your review on your AMDAX Account and contains all your trading activities, including pending transactions, deposits, withdrawals as well as balances. We use commercially reasonable efforts to assure that the information contained in the notices we send you and the transaction history is accurate and reliable. However, please understand that errors may sometimes occur and such errors do not impact the actual transaction.

You may close your AMDAX Account and terminate the Agreement at any time. Termination of the Agreement automatically results in your AMDAX Account being closed and that our AMDAX Services are no longer provided. Under certain circumstances, we may have the right to immediately (i) suspend or revoke your AMDAX Account, (ii) freeze or lock the Fiat Currency and Digital Assets, and/or (iii) suspend your access to AMDAX. For example, we may make use of this right if we have reason to believe there is a violation of Applicable Laws and Regulations.

Client Acceptance Procedure

We offer our AMDAX Services to Clients with a minimum investment of EUR 25.000 (or equivalent in Digital Assets).

During our onboarding process, we have requested you to provide personal information in line with our CAP/AML Program. These standards are designed to prevent the use of AMDAX for money laundering or terrorist financing activities. We will continuously monitor transactions and you may be asked to provide an update of your personal information in the future. For more information, we refer to our CAP/AML Program.

Trading

We operate a Trading Platform that facilities buying and selling of Digital Assets. Our Trading Platform ensures our Clients have access to liquidity and competitive pricing for all the Digital Assets we offer. We accept Orders via the Trading Platform, but also via chat and telephone. Below are the highlights of our trading services, we:

  • support multiple types of Orders: Request-for-Stream (RFS), Request-for-Quote (RFQ), Limit and Stop-Limit;
  • settle immediately and you will receive a receipt of all executed Orders;
  • have policies in place in the event of a clearly erroneous Trade and possibilities to revert those (as described in the Client Agreement);
  • charge Trading Fees for our trading services; and
  • have Trading Conduct Rules to prevent malicious, deceptive or undesirable behavior (as described in our Client Agreement).

You are responsible for making sure that any Orders placed by you are accurate and intentional.

Custody

The Custody Agreement is part of the Agreement and describes all aspects of our custody services. Below are the highlights of our custody services:

  • AMDAX custodies your Fiat Currency and Digital Assets;
  • we are a full reserve custodian, meaning that your Digital Assets are always at your disposal and are not used or lent by us or third parties;
  • your Custody Account may have one or more associated unique Blockchain Addresses in which your Digital Assets are (i) separated from any and all other Digital Assets held by us and (ii) directly verifiable via the applicable blockchain. The ownership of your Digital Assets will be clearly recorded in our books as belonging to you. Our records will at all times provide for the separate identification of your Digital Assets;
  • you can always deposit Fiat Currency and/or Digital Assets. You have personal deposit addresses / bank account number that you can use; and
  • you can request a withdrawal of your Fiat Currency and/or Digital Assets at any time. Withdrawals are processed within one business day and are approved via our multi-sig process to ensure security.

Private Investment Management (optional)

You can optionally opt for individual asset management services (“Asset Management Services”). Based on your investment profile and risk appetite, your Digital Assets will then be managed by our asset management team on the basis of a power of attorney. These services are provided by our affiliated company AMDAX Asset Management B.V., with whom a separate agreement will be entered into if the Client opts for this service. The minimum investment threshold to use Asset Management Services is EUR 100.000 (or an equivalent in Digital Assets). Asset Management Services is only provided under the condition that you have entered into the Agreement for trading and custody services.

Fees

Our Fees can be found at the Legal Center on our website.

Risks

There are risks associated with investing in Digital Assets. The value of Digital Assets can go down as well as up and you may risk substantial loss over a short period of time. Investing in Digital Assets s considered a high-risk investment due, amongst others, the high volatility and various market, economic, political and business risks. AMDAX does not provide investment, legal, tax or other advice relating to investments in Digital Assets. We are not responsible or liable for any trading decisions, damages or losses arising from or related to your investment in Digital Assets or services rendered under this Agreement.

Notice of Changes

We may modify part of all of our AMDAX Services at any moment. We may change, add or remove parts of the Agreement at any time and in our sole discretion. By using our AMDAX Services following any change to the Agreement, your use of our AMDAX Services shall constitute your agreement to the amended Agreement, and you agree to be legally bound by its terms and conditions as amended. We recommend reading the Agreement from time to time, as published on our website.

Questions, Feedback, and Complaints

If you have any questions, would like to provide feedback, or would like more information about AMDAX, please feel free to contact us at:

  • Email: hello@amdax.com
  • Address: AMDAX B.V., Gustav Mahlerplein 45, 1082 MS Amsterdam, the Netherlands; or
  • Call: +31 (88) 2632900.