5. Cryptocurrency Trading Terms

5.1 Introduction

If you have registered a Finder Account and verified your identity, you will be provided with a Finder Wallet Trading account and are eligible to buy and sell eligible Cryptocurrency through the Finder Wallet Platform (“Platform”). The sale and purchase of eligible Cryptocurrency (“Cryptocurrency Trading Services”) is governed by these Trading Terms (“Trading Terms”). These Trading Terms are incorporated by reference into the Finder Terms of Service, which are found here: https://www.finder.com.au/terms-of-service.

5.2 Our Relationship

In these Trading Terms, holders of a Finder Wallet Trading account are sometimes referred to as “you” or “your”. Finder Wallet Pty Ltd (ABN 11 149 012 653) (“Finder Wallet”), with its offices at Level 10, 99 York Street, Sydney, NSW 2000 is the provider of the Finder Wallet Trading account and the Cryptocurrency Trading Services. Finder Wallet is referred to as “we”, “us” or “our” in these Trading Terms. Together, you and we may be collectively referred to as “Parties”.

5.3 Acceptance of Terms

By applying for a Finder Wallet Trading account, or accessing the Platform, you acknowledge that you have read, understood, and agree to be bound by these Trading Terms, as modified from time to time. We reserve the right to update these Trading Terms at any time and may notify you of such changes via the Platform, the Site (together the “Online Platform”) or by email at the address specified on your account application for your Finder Wallet, but we have no obligation to notify you of every update. We will act reasonably when exercising these rights and only do so for legitimate business purposes.

By continuing to access or use the Finder Wallet Trading account, Platform or our Cryptocurrency Trading Services following an amendment to the Trading Terms, you acknowledge that you understand, and agree to, the amended Trading Terms. If you do not agree to the amended Trading Terms, you must not continue to use the Finder Wallet Trading account, Platform and Cryptocurrency Trading Services.

The Finder Group Privacy Policy and any risk warnings displayed in the Platform are incorporated by reference in their entirety to these Trading Terms, located at https://www.finder.com.au/finder-group-privacy-cookies-policy.

5.4 Cryptocurrency Trading Services

Any trading activity is self-directed. That means that you are responsible for all purchase and sell orders, trading strategies, decisions to hold or sell Cryptocurrency and selection of the type of Cryptocurrency to hold or sell. You agree that any decision you make does not rely on any advice from Finder Wallet or any affiliated Finder entities (as applicable) (collectively, “Finder”) and is at your own risk. You must determine the suitability of any trade and risk associated with your Cryptocurrency trading activity.

You agree that we may accept or refuse any order, or delay placing any order, if we determine that it is necessary or appropriate to do so. Additionally, you may suffer market losses during periods of volatility in the price and volume of eligible Cryptocurrency, particularly when system issues result in the inability to buy or sell eligible Cryptocurrency. You agree that you will not hold Finder Wallet responsible for any losses caused by such refusal or delay or such inability to transact.

5.5 Instructions

You can give us instructions by interacting with the buttons, check boxes, and icons in the Platform. By issuing instructions to us, you acknowledge that you understand the consequences of your actions. If you are unsure, you should not undertake any action on the Platform and seek appropriate assistance from FAQs, support services or your independent financial advisor. All instructions you give will be under an irrevocable authority. You are solely responsible for all instructions issued through your Finder Account.

5.6 Transfer of Funds

You may transfer Fiat into and out of your Finder Wallet Account in the following ways:

i. Direct Entry (Standard Bank Transfer),
ii. New Payments Platform ('NPP'):
a) NPP PayID (transfer in only), and
b) NPP Bank Transfer (transfer in and out), or
iii. Other methods may be introduced in future, and we may notify you by publishing the information on the Platform.

Deposits:

You can transfer funds Fiat your Finder Wallet Account from a bank account which must be solely under your name, and not a joint account with someone else or another entity. We will refund deposits made from third party payment providers or platforms (e.g. Revolut, PayPal and Wise) to the bank account details included in the payment details. You are responsible for ensuring that the third party payment provider or platform allocates the refunded amount to your account.

The details we give to you for the purposes of transferring funds to your Finder Wallet Account, while unique to each account, do not represent a bank account being opened in your name, nor controllable by you. We do not issue BSBs, and we do not provide banking services.

Withdrawals:
You may instruct us to transfer the Fiat we hold for you to your nominated bank account, which must be solely under your name, and not a joint account with someone else or another entity. You must not transfer Fiat to pay another party from our Platform.

We may change the ways you can transfer Fiat to your Finder Wallet Account or impose any deposit or withdrawal limits, and we may publish that information on the Platform. Transfer and clearance times for Fiat deposits and withdrawals are out of our control. Initial transfers made via NPP and all Direct Entry payments may take over 24 hours to clear. Future NPP transfers tend to clear within minutes, however, this is not guaranteed. Where possible, transfers from our Platform will first attempt to occur via the NPP in an attempt to achieve fast processing.

5.7 Ownership and use of Cryptocurrency

You acknowledge that the Cryptocurrency is not legally held by you. When you purchase Cryptocurrency we allocate the relevant amount of Cryptocurrency to your Finder Wallet Trading account by updating our internal ledger. Although you have beneficial interest in the amount of Cryptocurrency displayed in your Finder Wallet Trading account you do not have legal title in that Cryptocurrency. You authorise us to use the Cryptocurrency in which you have a beneficial interest in our sole discretion at all times for our own purpose and acknowledge that our use of the Cryptocurrency is for our benefit only. You will retain a beneficial interest in the Cryptocurrency at all times. You will be able to transfer the Cryptocurrency from Finder Wallet to a wallet address owned and controlled by you in Australia.

5.8 Purchase and Sale of Cryptocurrency

The Platform will display your Fiat and Cryptocurrency account balances. We will display indicative buy and sell prices for the purchase or sale of Cryptocurrency.

Any price offered is indicative only, and is an invitation to treat, so by issuing instructions on our order submission page for the purchase or sale of Cryptocurrency, you are inviting us to accept your offer to purchase or sell the Cryptocurrency at the indicated price, and you understand that the actual price executed could vary from this indicated price.

We publish market prices for eligible Cryptocurrency as we receive them from unrelated third-party sources. That market price will be displayed on the Platform but will not be a price at which you can trade. We do not guarantee best in market pricing. We include a spread which is a price above the buy price, or below the sell price of what may be available elsewhere in the market. This spread may vary depending on market volatility or the amount being traded. As a result, after completing a purchase, it is highly unlikely that you will be able to immediately sell for the same price you paid.

We will provide a trade summary in your account that includes the executed price (once the trade is confirmed), Service Fees (inclusive of GST) for the transaction. You will be able to view details of historical trades executed within the Finder Wallet section of the Finder App. If we are unable to fulfill your request to trade, deposit or withdraw, we will notify you.

5.9 Recurring Trades

You can instruct us to make recurring trades on your behalf by interacting with the recurring trade feature in the Platform. Recurring trades will be made on or around the indicated time and date, at the available exchange rate at the time of the trade. You can cancel your recurring trade plan in the Platform. You should allow sufficient time before a recurring trade is scheduled for your cancellation instructions to be processed. It is your responsibility to ensure that there are sufficient funds in your Finder Wallet Trading account. If there are insufficient funds in your Finder Wallet Trading account, the recurring trade will not be processed and your recurring trade plan may be terminated. You may restart your recurring trade plan via the Platform.

5.10 Transfer of Cryptocurrency

You can request that your Cryptocurrency be transferred to a wallet controlled by you, and your control of that wallet must be in Australia. You must not transfer Cryptocurrency to pay another party from our Platform. We may require you to provide evidence you control your wallet address, and that you are in Australia when you receive the Cryptocurrency into your wallet address. We may refuse the withdrawal of Cryptocurrency or seek additional personal information at our discretion. There may be a fee payable to transfer your Cryptocurrency off the Platform.

5.11 Fees

Fees and charges are published on the Platform. We may change our fees and charges from time to time. We may notify you of any changes to our Fees and Charges by publishing changes on the Platform. You should review the current fees and charges prior to transacting. We impose trading, deposit and withdrawal limits, which are published on the Platform. Fees and charges will be deducted during a purchase, sale, or transfer, of Cryptocurrency, therefore the funds or Cryptocurrency you receive will be the transaction value, less fees.

5.12 Regulations

Finder Wallet is a digital currency exchange registered with AUSTRAC. Cryptocurrency trading is not offered to you under an Australian Financial Services License and Finder Wallet does not provide any financial product or financial product advice. Our Cryptocurrency Trading Services, and any information we provide, are only intended for residents of Australia, who are in Australia at the time of using the Cryptocurrency Trading Services. Nothing on our Platform, or in our promotional material, is intended to offer our Cryptocurrency Trading Services to non-Australian residents.

5.8 Risk Disclosure

5.8.1 Volatility

Trading and holding Cryptocurrency has a high level of risk. Cryptocurrency is a volatile asset, and you can incur losses. Though generally less volatile, stablecoin categories of Cryptocurrency carry risk and may lose some or total market value. You should only trade Cryptocurrency if you fully understand and agree to the risks.

5.8.2 Counterparty

When you purchase Cryptocurrency, you only hold the beneficial interest. Finder Wallet, or a third party, will hold and secure the Cryptocurrency. If Finder Wallet, or the third party becomes insolvent, or is subject to hacking or some other cyber security event, your Cryptocurrency may be jeopardised and you may incur partial or total loss of your Cryptocurrency.

5.8.3 Insolvency risk

You do not maintain a legal interest in the Cryptocurrency, and we do not hold Fiat currency in a trust account. Accordingly, if Finder Wallet becomes insolvent, you will be an unsecured creditor in relation to your Cryptocurrency or Fiat currency held with us.

5.8.4 Complex tax advice risk

Buying, selling Cryptocurrencies for profit raises complex and novel taxation issues. You will need to be prepared to talk to a tax adviser if you use our services. We suggest you seek independent taxation advice prior to purchasing Cryptocurrency.

5.8.5 Independent Financial Advice

We suggest you seek independent financial advice prior to purchasing Cryptocurrency.

5.8.6 Not Exhaustive

You understand that this list of risks is not exhaustive.

5.9 Finder Wallet Trading Account Registration

5.9.1 Approval for a Finder Wallet Trading Account

The Finder Wallet Trading account, Platform and Cryptocurrency Trading Services are provided by Finder Wallet under licence.

You must apply for a Finder Wallet Trading account within the Finder App, and be approved by us, prior to using the services. We will need to identify you prior to you being approved to use the Services, and we will ask you for personal information which we will use to try to identify you. We will share your personal information with one or more third parties for the purpose of identifying you, and providing the Platform and Services to you.

We may ask you for more information before we approve your Finder Wallet Trading account for use, and we may require you to provide more information in the future, including the source of your funds, and the circumstances of your trading and dealing with Cryptocurrency. You agree to provide information requested by Finder Wallet, for use pursuant to this agreement, the Act, the Rules and our Privacy Policy.

We reserve the right to reject any application at our sole discretion, and we are not obliged to notify you of the reason for the rejection. We reserve the right to close your account at our sole discretion at any time, without notice, and we do not have to provide you with a reason for the closure.

5.9.2 Age

You must be 18 years of age or older to use the Services.

5.9.3 Lawful use

You acknowledge and agree to use the Platform and Cryptocurrency Trading Services lawfully.

You will only use the Platform and Cryptocurrency Trading Services for yourself, and not on behalf of a third party.

5.10 Limit access

We may limit your access to the Finder Wallet Trading account, Cryptocurrency Trading Services and Platform or remove your access to the Platform and Services without prior notice, and we have no liability to you for such actions.

5.11 Tax

You are responsible for any tax consequences arising from your use of the Platform and the Cryptocurrency Trading Services.

5.12 Termination

We may terminate this agreement with you at any time, without prior notice. If we terminate this agreement or your Finder Wallet Trading account, we will make any payment due and owing to you in accordance with the relevant clause of this agreement.

5.13 Authorisation

5.13.1 Appointment

You appoint and authorise Finder Wallet to act in commission of the services. This includes, where relevant, acting under your instructions to buy and sell Cryptocurrency, and to transfer funds and Cryptocurrency.

5.13.2 Transfer of Cryptocurrency

You authorise us to transfer Cryptocurrency which you have a beneficial interest in, into or out of, storage, and to and from a third party. We may nominate a third party on your behalf to receive and hold title in your Cryptocurrency.

5.13.3 Transfer of Fiat

You authorise us to hold, and transfer your Fiat for the provision of the Services. You authorise third parties we use to provide the Services to hold, and transfer your Fiat for the purpose of providing the Services.

5.13.4 Hold and deal with Cryptocurrency

You will be the beneficial owner of the Cryptocurrency you purchase. We, or a third party, will hold the legal title to the Cryptocurrency.

You authorise us to hold the Cryptocurrency in which you have a beneficial interest, or to nominate a third party to hold the Cryptocurrency in which you have a beneficial interest. If we engage a third party, your legal relationship will be with Finder Wallet, and not a third party custodian.

You authorise us to deal with your Cryptocurrency in our sole discretion, including for our own financial gain or benefit, and acknowledge that we have no obligation to hold an amount of Cryptocurrency equivalent to the amount of Cryptocurrency allocated to your Finder Wallet Trading account at any one time.

We will keep records of the transactions on your account. The balance of your Cryptocurrency recorded by us will appear in the dashboard of your Finder Wallet Trading account.

5.13.5 Hold and deal with Fiat

You authorise us to hold Fiat on your behalf to buy and sell Cryptocurrency for the performance of the Services. There will be no interest payable to you on any fiat we hold for you. We can hold funds on separate accounts, or pooled, entirely at our discretion. The balance of your Fiat funds recorded by us will appear in the dashboard of your Finder Wallet Trading account.

5.13.6 Deal as necessary

You authorise us to take reasonably necessary steps to comply with your instruction for the provision of our Services.

5.13.7 Beneficial Interest

Subject to the Terms, you can buy, sell and exchange your beneficial interest in the Cryptocurrency via the App by instructing us. You will not have direct control of the Cryptocurrency or Fiat, or any related private key(s).

5.14 Security

5.14.1 Keep account secure

It is your responsibility to keep your Finder Wallet Trading account information secure. You must not share your login details with anyone else. You must monitor your Finder Wallet Trading account’s transactions on a daily basis, and immediately notify us of any unauthorised activity.

5.14.2 Notify Us of Security Breach

You must immediately (within 24 hours following discovery) notify us, in writing by email, of any security breach of your Finder Wallet Trading account which includes if you become aware of:

(a) any loss, theft, or unauthorised use of your login details or Finder Wallet Trading account;
(b) not receiving an accurate written confirmation of an order, execution, or cancellation;
(c) confirmation of an order, execution or cancellation, which you did not place;
(d) any inaccurate information relating to your orders, trades, status, account balances, deposits, withdrawals, positions or transaction history; or
(e) any other unauthorised use or access of your Finder Wallet Trading account.

5.14.3 No liability for misuse

We are not liable for any unauthorised use of your Finder Wallet Trading account information. You agree that you will be responsible for losses that arise from your failure to:

(a) safeguard your login details;
(b) review each statement for possible unauthorised activity; or
(c) report any unauthorised activity to us as provided herein or by failure to follow another process communicated to you by us.

5.14.4 One account at a time

You can only operate one Finder Wallet Trading account at a time.

5.14.5 Incorrect distribution

You agree to promptly return to us any assets mistakenly distributed to you.

5.15 Provision of services

5.15.1 Notification of errors

We do not represent that the Platform will always be free from errors. If you find an error, please notify us so we may correct it.

5.15.2 Platform operation

While we do make reasonable efforts to ensure the safe operation of the Platform, we cannot guarantee it will be free from technical issues, or that it will operate without issues on your device. If there are delays beyond our control, we will endeavour to rectify the issue as soon as it is practical to do so.

5.15.3 Platform Access

We aim to provide a high level of service to you. However, we do not warrant the operation or availability of the Platform or Services. There may be technical interruptions, maintenance downtime, hardware failure or other unexpected events. You must consider that there may be interruptions to the provisions of our Services.

We cannot guarantee the Platform will be safe from unauthorised access or unauthorised activity. You are responsible for securing your Finder Wallet Trading account login details.

We cannot guarantee third parties we nominate in the provision of our Services will not cause disruption or experience failure that impacts our Services.

5.15.4 Comply with the Act and Rules

We must comply with the Act and Rules, which includes our reporting obligations. Therefore, we may be required to report suspicious, and other, activity to the regulator.

5.15.5 Update your device

You should keep your installation of the App updated, to keep up with features and security enhancements. You acknowledge that failure to maintain App updates may result in a security risk leading to your Finder Wallet Trading account being compromised and loss of your Cryptocurrency or Fiat.

5.15.5 No unauthorised access

You must only use the Services by using the Platform within the Finder App without modification in any way. We are not responsible for losses you may incur due to your unauthorised access. You must not decompile, reverse engineer or use our Platform or Services in a way not expressly described and authorised by us. You are liable for your infringement of our intellectual property rights.

5.15.6 Errors and mistakes

You authorise us to deduct from your balance any overpayments, or payments made to you in error, and you agree to reimburse us for any shortfall if you do not have sufficient balance in your account.

5.16 Intellectual Property

5.16.1 IP belongs to Finder Wallet

All intellectual property, including moral and legal rights, arising from your use of the Platform or Services is vested in Finder Wallet at the time of creation.

5.16.2 No unauthorised use

You must not modify, alter or use the Platform and any related software in a way not intended by us.

5.16.3 Licence

You are granted a limited revocable licence to use the Platform and Services.

5.16.4 Protection

We may seek remedies at law, including an injunction, to protect our intellectual property.

5.17 Liability

All express or implied guarantees, warranties, representations, statements, terms and conditions which are not expressly set out in these Trading Terms are excluded. Nothing in these terms excludes, restricts or modifies any guarantee, term, condition, warranty, or any right or remedy, implied or imposed by any law or legislation which cannot lawfully be excluded or limited, including the Australian Consumer Law which contains guarantees that protect the purchasers of goods and services in certain circumstances. If any guarantee, term, condition or warranty is implied or imposed in relation to these terms under the Australian Consumer Law or any other applicable legislation (a “Non-Excludable Provision”) and we are able to limit your remedy for a breach of the Non-Excludable Provision, then our liability for breach of the Non-Excludable Provision is limited to one or more of the following at our option: (i) in the case of goods, the replacement of the goods or the supply of equivalent goods, the repair of the goods, the payment of the cost of replacing the goods or of acquiring equivalent goods, or the payment of the cost of having the goods repaired; or( (ii) in the case of services, the supplying of the services again, or the payment of the cost of having the services supplied again. In any event, our maximum aggregate liability for all claims arising under or relating to these Trading Terms whether in contract, tort (including negligence), in equity, under statute, under an indemnity, based on fundamental breach or breach of a fundamental term or on any other basis is limited to the amount paid, if any, by you to access or use the Cryptocurrency Trading Services. To the maximum extent permitted by law, we are not liable for any indirect or consequential loss, or loss of business, goodwill, reputation or for business interruption.

5.18 Indemnity

You agree to indemnify us for loss, damage and reasonable expenses arising from your breach of the Trading Terms, and any unlawful conduct or misuse of the services by you. You agree that we may deduct any amount owed to us, including costs of remedying a breach, from any Cryptocurrency or Fiat currency that is held by us and owing to you under these Trading Terms. Under no circumstances shall you have any recourse to take any action, or make any claim against any related body corporate, director, officer, employee, contractor or advisor, of Finder Wallet. Any claims are to be only brought against Finder Wallet.

5.19 Prohibited Uses

You agree and understand that Finder Wallet does does not permit the use of the Finder Wallet Trading account, Platform or Cryptocurrency Trading Services for any prohibited activity including but not limited to transfers to and/or from mixing services used to obscure the source of funds, third party wallets, peer-to-peer and other exchanges which do not perform Know Your Customer (KYC) screening as part of their onboarding process, funds from gambling sites, funds belonging to darknet market places or illegal activity that would violate, assist in violation of, or cause Finder Wallet to violate any applicable laws or which would involve proceeds of any unlawful activity.

5.20 Supported Digital Assets

A list of digital assets that Finder Wallet currently supports for the Cryptocurrency Trading Services is available via the Platform. Finder Wallet may discontinue support for a digital asset at any time and for any reason at our sole discretion, including due to changes in a given digital asset’s characteristics or due to a change in the digital asset’s regulatory classification.

You may not be able to retrieve any unsupported digital asset. Finder Wallet assumes no liability, obligation or responsibility whatsoever with respect to any unsupported digital asset.

5.21 Network Control

Finder Wallet does not own or control any of the underlying software through which blockchain networks are formed and cryptocurrencies are created and transacted. In general, the underlying software for blockchain networks tends to be open source such that anyone can use, copy, modify, and distribute it. By using the Platform, you understand and acknowledge that Finder Wallet is not responsible for the operation of the underlying software and networks that support cryptocurrencies and that Finder Wallet makes no guarantee of functionality, security, or availability of such software and networks.

5.22 Forks

The underlying network protocols are subject to sudden changes in operating rules, and third parties may from time to time create a copy of a digital asset network and implement changes in operating rules or other features (“Forks”) that may result in more than one version of a network (each, a “Forked Network”) and more than one version of a digital asset (“Forked Assets”).

Forked Networks and the available supply of any Forked Assets are wholly outside of the control of Finder Wallet, and its affiliated entities, and our ability to deliver Forked Assets resulting from a Forked Network may depend on third parties outside of our control. You understand and acknowledge that Forks may materially affect the value, function, and even the name of the digital assets associated with your Finder Wallet Trading account. In the event of a Fork, we may temporarily suspend certain services on the Platform (with or without advance notice to you) while we determine, at our sole discretion, which Forked Network(s) to support.

Finder Wallet is unlikely to support most Forked Networks and most Forked Assets will likely not be made available to you. We may determine, in our sole discretion, not to support a Forked Network. You have no right, claim or other privilege against us to Forked Assets on such unsupported Forked Network. We may, in our sole discretion, determine our approach to such Forked Assets, which may include abandoning or otherwise electing not to support such Forked Assets as part of our Cryptocurrency Trading Services.

5.23 Airdrops

In the event that a digital asset network attempts to or does distribute (sometimes called “airdropping” or “bootstrapping”) additional digital assets to or through its digital asset network, such network shall become a Forked Network and subject to the terms set forth above.

We do not support airdrops or tokens or coins which supplement or interact with a digital asset supported by us. You will not use us or any of our services or accounts to attempt to receive, request, send, store or engage in any other type of transaction involving airdrops or tokens or coins which supplement or interact with a digital asset supported by us. You will not be able to retrieve any unsupported digital asset. We assume no liability, obligation or responsibility whatsoever in respect to any unsupported digital asset.

5.24 Complaints

If you have a complaint, please contact support@finderwallet.com.

5.25 Transfer

We may transfer, assign or novate this agreement.

5.26 Jurisdiction

The Agreement shall be governed by and construed in accordance with the laws of New South Wales and the parties submit to the exclusive jurisdiction of the Courts of New South Wales.

5.27 Meaning of words

In these Trading Terms:
“Act” means Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
“AUD” means Australian dollar.
“Business Day” means a day on which banks are open for general banking business in New South Wales (not being a Saturday, Sunday or public holiday in that place).
“Cryptocurrency” means Bitcoin or other supported digital assets which are made available on our Platform.
“Cryptocurrency Trading Services” means the buying and selling of Cryptocurrency through the Platform.
“Fiat” means Australian dollars, or other government issued currency if expressly referred to as such.
“Finder Wallet Trading Account” means the account you must apply for, and be approved for, by Finder Wallet prior to using the Cryptocurrency Trading Services.
“NPP” means New Payments Platform.
“Platform” means the Finder Wallet software system for trading Cryptocurrency, and related services, which is available through the Finder App.
“Privacy Policy” means Finder Wallet’s Privacy Policy.
“Rules” means Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1).
“Trading Terms” means the terms and conditions that apply to the Cryptocurrency Trading Services, which may be amended by Finder Wallet at its sole discretion.

Terms Last Modified: 17 August 2022