Coinify legal information

This page provides you with all legal information and resources related to Coinify products and services.

Click on the tabs below to view the different legal areas.

Associated documents (Terms of Service, AML/KYC Policy, Privacy Policy, and Virtual Currency Risk Warning) govern the use of the products, services, platforms, websites or any other features, technologies or functionalities provided by Coinify or as part of the Coinify brand, through Coinify’s website(s) (including mobile services), API or through any other means (collectively the “Services”).

For legal inquiries ie. police requests, governmental requests etc. please contact legal@coinify.com

Explore By Chapter
1Privacy Policy
2How Your Personal Information is Used
3What are cookies?
4Our Sharing of Personal Data with Other Parties
5Encryption of Data Traffic

Intersection Observer API Demo

Privacy Policy

Coinify ApS (“Coinify”) is a private limited company incorporated in Denmark with company number DK35847995 and whose registered office is Grønnegade 10, 1, 1107 Copenhagen K, Denmark.

Coinify complies with applicable European data protection laws, such as the General Data Protection Regulation and its implementation acts (hereinafter “GDPR”).

Coinify ApS handles virtual currency transactions globally. Coinify ApS is the data controller for the processing of personal data when handling virtual currency transactions.

As data controllers, we determine the means and purposes of processing data concerning the use of our services within the virtual currency industry. If you have any questions about your Coinify Account, your personal information or this privacy policy, please direct your questions to legal@coinify.com.

Personal Data Collected

Personal data is data that can be used to identify you directly or indirectly. Our privacy policy covers all personal data that you voluntarily submit to us and that we obtain from our partners. This privacy policy does not apply to anonymised data as this cannot be used to identify you.

We collect the following types of information:

- Personal Identification Information: Full name, date of birth, age, nationality, gender, signature, utility bills, photographs, phone number, home address, and/or email.

- Formal Identification Information: Tax/other ID numbers, passport numbers, driver’s license details, national identity card details, photograph identification cards, and/or visa information.

- Financial Information: Bank account information, payment card primary account number (PAN), transaction history, trading data, and/or tax identification.

- Transaction Information: Information about the transactions you make on our services, such as the name of the recipient, your name, the amount, and/or timestamp.

- Employment Information: Office location, job title, and/or description of the role.

- Online Identifiers: Geo location/tracking details, browser fingerprint, OS, browser name and version, and/or personal IP addresses.

- Usage Data: Survey responses, the information provided to our support team, public social networking posts, authentication data, security questions, user ID, click-stream data and other data collected via cookies and similar technologies.

We only use your personal data where we have a legal basis to do so:

- Consent: For some processing activities, we require your prior consent. This applies for example to some of our direct marketing activities which fall under the scope of the GDPR and ePrivacy rules. You may withdraw your consent at any time.

- Performance of a contract: Some personal data we process about you is for the performance of a contract to which you are a party or to take steps at your request before entering into a contract with us.

- Legal obligation: In most cases, we have to process your personal data to comply with legal obligations, including those applicable to financial services institutions, such as the Danish Anti-Money Laundering Act (“Hvidvaskloven”).

How Your Personal Information is Used

We collect personal data to provide you with our services. When we require certain personal information from users it is because it is necessary for the specified purposes. Our primary purpose in collecting personal information is to provide you with a secure, smooth, efficient, and customised experience. In general, we use personal data to create, develop, operate, deliver, and improve our services, content and advertising, and for loss prevention and anti-fraud purposes. We may use this information in the following ways:

KYC Requirements

Our core services infer the necessity for us to collect and use your personal identification information, formal identification information, financial information, transaction information, employment information, online identifiers, and/or usage data, in certain ways. For example, Coinify identifies and verifies the identity of our customers using our services. In addition, we use third parties to verify your identity by comparing the personal information you provided against third-party databases and public records. When you seek permission to raise your buy and sell limits associated with your Coinify Account, we may require you to provide additional information which we may use in collaboration with service providers acting on our behalf to verify your identity or address, and/or to manage risks. The consequence of not processing your personal information for such purposes is the termination of your account as we cannot perform our services.

To provide Coinify’s services and enforce our terms in our user agreement and other agreements When providing our services Coinify handles sensitive information, such as your identification and financial data – It is therefore very important for us and our customers that we are actively monitoring, investigating, preventing and mitigating any potentially prohibited or illegal activities, enforcing our agreements with third parties, and/or violations of our posted user agreement or agreement for other services. In addition, we may need to collect fees based on your use of our services. We collect information about your account usage and closely monitor your interactions with our services. We may use any of your personal data collected on our services for these purposes.

For research and development purposes

We process your personal data to better understand the way you use and interact with Coinify’s services. Furthermore, we use such information to customise, measure, and improve Coinify’s services and the content and layout of our website and applications, and to develop new services. This may also include sending you invitations to review our services. Without such processing, we cannot ensure your continued enjoyment of our services. Our basis for such processing is based on legitimate interest.

We process this personal information to pursue our legitimate interests as described above.

We will not use your personal data for any other purposes than those described in this policy, without informing you. From time to time we may request your permission to allow us to share your personal data with third parties. You may opt out of having your personal data shared with third parties. If you choose to limit the use of your personal data, certain features or Coinify’s services may not be available to you.

Personal Data from Third-Party Providers

Coinify primarily collects personal data about you. From time to time, we may, however, also collect data about you from third party sources, such as public databases, credit bureaus, ID verification partners, resellers and channel partners, joint marketing partners, and social media platforms.

We obtain information about you from public databases and ID verification partners for purposes of verifying your identity. ID verification partners use a combination of government records and publicly available information about you to verify your identity. Such information includes your name, address, job role, public employment profile, credit history, status on any sanctions lists maintained by public authorities, and other relevant data.

In connection with a virtual currency transfer between you and a third party, including merchants, a third party may share information about you with us, such as your email address or mobile phone number which may be used to inform you that a transfer has been sent to or received from the third party. We may use this information in connection with such transfers to confirm that you are a Coinify customer, that virtual currency transfers are enabled, and/or to notify you that you have received virtual currency. If you request that we validate your status as a Coinify customer with a third party, we will do so. You may also choose to send virtual currency to or request virtual currency from an email address. In such cases, your user name will be displayed in an email message notifying the user of the designated email address of your action.

Please note that merchants you interact with may have their own privacy policies, and Coinify is not responsible for their operations, including, but not limited to, their information practices.

Collection and Use of Information Collected Automatically

We receive and store certain types of information automatically, such as whenever you interact with the Sites or use the Services. This information does not necessarily reveal your identity directly but may include information about the specific device you are using, such as the hardware model, device ID, operating system version, web-browser software (such as Google Chrome, Firefox, Safari, or Internet Explorer) and your Internet Protocol (IP) address/MAC address/device identifier.

For example, we automatically receive and record information on our server logs from your browser, including how you came to and used the Services; your IP address; device type and unique device identification numbers, device event information (such as crashes, system activity and hardware settings, browser type, browser language, the date and time of your request and referral URL), broad geographic location (e.g. country or city-level location) and other technical data collected through cookies, pixel tags and other similar technologies that uniquely identify your browser. We may also collect information about how your device has interacted with our website, including pages accessed and links clicked. We may use identifiers to recognise you when you arrive at the Site via an external link, such as a link appearing on a third-party site.

Cookies

Like many other websites, Coinify stores cookies on your computer or mobile device when you visit our website. We do this to make our website work properly, to distinguish between users, to help us provide you with a good experience, and to allow us to improve the site and services we offer.

What are cookies?

A cookie is a small text file that is stored on your computer or mobile device when you visit a website. Cookies make it possible for the website to recognise you and to remember your site activities and preferences over a period of time. Cookies also make revisits to a website easier.

How does Coinify use cookies?

We use cookies to obtain information about your visit and about the device you use to access our website. This includes:

- Your IP address and pseudonymous identifiers,

- Your device’s operating system and browser type and,

- Statistical data about your browsing activities and patterns.

Enabling cookies is not strictly necessary for our website to work but it will provide you with a better browsing experience. You can delete or block our cookies. However, some site features may not work as intended, if you block or delete cookies.

The information we collect through cookies is not used to identify you directly, and the pattern data is fully under our control. Furthermore, our cookies are not used for any purpose other than those described here.

How to control or delete cookies

You can control or delete cookies as you wish. For details about how to delete or control cookies, see aboutcookies.org.

You can delete selected or all cookies that are already on your computer, and you can set most browsers to prevent cookies from being stored on your device. If you do this, however, you might have to manually adjust some preferences every time you visit a website and some services and functionalities may not work.

Our Sharing of Personal Data with Other Parties

We make sure that your personal data can only be accessed by those persons at Coinify who need to – and only when it is necessary – for them to perform their tasks and duties. However, our trade service includes integrations with third-party providers, including, but not limited to, credit/debit card payment processors, banks, KYC & identification check providers, support services and transaction monitoring services. When trading with Coinify, your personal information can be transferred to these third parties. We only share your data with third parties who have a legitimate purpose for accessing it and with the appropriate legal basis. Coinify will never sell or rent out your personal information. We will only share your information in the following circumstances:

- We share your information with financial institutions with which we partner to process payments you have authorised.

- If you use your Coinify Account to transfer Digital Currency in connection with the purchase or sale of goods or services, we or you may also provide the seller with your shipping address, name, and/or email to help complete your transaction with the seller. If an attempt to transfer Digital Currency to your seller fails or is later invalidated, we may also provide your seller with details of the unsuccessful transfer. To facilitate dispute resolutions, we may provide a buyer with the seller’s address so that goods can be returned to the seller.

- We may share your information with law enforcement, officials, or other third parties when we are compelled to do so by a subpoena, court order, or similar legal procedure, or when we believe in good faith that the disclosure of personal information is necessary to prevent physical harm or financial loss, to report suspected illegal activity or to investigate violations of our user agreement or any other applicable policies.

- We might share information with a service collecting customer reviews on Coinify’s behalf. We are doing this based on a common interest – to be able to improve our services and give the opportunity to every customer to take informed decisions by learning who we are and what our services offer.

If you establish a Coinify Account indirectly on a third-party website or via a third-party application, any information that you enter on that website or application (and not directly on a Coinify website) will be shared with the owner of the third-party website or application and your information will be subject to their privacy policies.

Coinify is committed to ensuring that the data we collect from you is stored for no longer than necessary. This means that we only store your information for as long as we need to deliver our services to you and to fulfil our obligations under § 30 in the Danish Anti-Money Laundering Act (“Hvidvaskloven”) and § 10 of the law on accounting. We are required to keep information related to KYC documentation and completed transactions for a period of 5 years.

How We Protect and Store Personal Information

We understand how important your privacy is, which is why Coinify maintains (and requires its service providers to maintain) appropriate physical, technical and administrative safeguards to protect the security and confidentiality of the personal information you entrust to us.

We may store and process all or part of your personal and transactional information, including certain payment information, such as your encrypted bank account and/or routing numbers where our facilities or our service providers are located in the world. We protect your personal information by maintaining physical, electronic, and procedural safeguards in compliance with the applicable laws and regulations.

Your Rights

When we process your personal data, you have several rights under the General Data Protection Regulation.

In general, you have a right of access to Coinify’s processing of your data. This means that you can ask us for information about our processing of your data and a copy of the data. You also have the right to have a copy of your personal data transmitted to another enterprise, where technically feasible.

Also, you have a right to object to our processing of your data. If the situation should occur, we will decide whether we can meet your objection. If that is the case, we will no longer process the data in question.

Finally, you have a right to have erased, blocked or rectified any data that turn out to be inaccurate or misleading or in a similar way have been processed in conflict with legislation.

If you wish to make use of your rights under the Danish Act on Processing of Personal Data, please contact Coinify at legal@coinify.com.

Complaints

Complaints about our processing of your personal data can be filed at The Danish Data Protection Agency.

You can contact The Danish Data Protection Agency from your digital mailbox at borger.dk, by ordinary email to dt@datatilsynet.dk or by ordinary post to The Danish Data Protection Agency, Borgergade 28, 5., 1300 Copenhagen K, Denmark.

Contact and Newsletters

If you have given your consent, Coinify may contact you via the address, e-mail and/or phone number you provide on your account for marketing, surveys, news and/or similar initiatives.

Encryption of Data Traffic

Coinify is committed to handling your Customer Information with the highest standards of information security. When your information is transferred over the internet, SSL encryption is used to ensure your sensitive data is not accessible to anyone on the internet. The data that is communicated back and forth between Coinify and your computer is encrypted with a 256-bit SSL certificate. This means no one can intercept the data stream between Coinify and your device.

Governing Laws

This Privacy Policy and any dispute or claim arising out of or concerning this policy shall be governed by and construed in accordance with Danish law without regard to its principles on choice of law.

Any dispute arising out of or relating to this policy, including any dispute concerning the existence or validity of these terms, shall seek settlement of the dispute by mediation arranged by The Danish Mediation Institute, in accordance with the “Rules of Procedure of Mediationsinstituttet”. If the dispute is not settled after completion of mediation, either of the parties is entitled to seek settlement of the dispute by arbitration administered by The Danish Institute of Arbitration in accordance with the rules of arbitration procedure adopted by The Danish Institute of Arbitration and in force at the time when such proceedings are commenced. The language to be used in the arbitral proceedings shall be English.