As used herein, “SCM refers to the website Syntropy Cloud Mining including but not limited to, its owners, directors, investors, employees or other related parties. Depending upon context, SCM may also refer to the services, products, site, content, equipment or other materials provided by SCM.
The Member is solely responsible for understanding and complying with any and all laws, rules and regulations of his/her specific jurisdiction that may be applicable to the User in connection with the use of SyntropyCloudMining.com.
- Account: means an account created by the Member on the SyntropyCloudMining.com platform.
- Bitcoin(s): refers to the Peer-to-Peer cryptocurrency (see bitcoin.org).
- Block: means a record in the blockchain that contains and confirms financial transactions.
- Buyer(s): means the Member(s) who submits an offer to buy Fractional Syntropy Cloud Mining Contract(s) through the Service.
- Mining contract: means providing a certain amount of staking potential for a certain period of time.
- Platform: means an environment created by SCM to execute orders of fractional mining contracts. The Platform is not intended to provide any legal, tax, insurance or investment advice.
- Price: means "price per Block" for which we are selling staking contracts for virtual currency. The Price may be expressed virtual currencies such as Bitcoin, Ethereum, etc.
- Service(s): means the technological platform, hardware, software, maintenance, connectivity, power, and management by SCM to permit the Members to buy these services for a period of time to mine staked coins.
- Site: SyntropyCloudMining.com website at SyntropyCloudMining.com
- Order or transaction: means an agreement between the Member and SCM to exchange virtual currencies for fractional staking contract(s) at a specific price per block ("Purchase transaction").
- Payout: means a scheduled payout of the Members account balance by sending the amount of Bitcoins to the Member from coins liquidated at the request of the Member for the purpose of a payout. The coins liquidated are from the Members pro-rata share of the fractional mining interest in a Master Block. These coins were acquired and deposited into the Members account for the Members to use in sending converted Bitcoin to an external crypto wallet.
- Transaction Amount or Transaction Price: means the total price paid by the Member in respect to each fractional mining block(s) purchased and mining performed via the Service.
- SCOPE OF THE SERVICES
- The Service allows all Members of the Platform to buy fractional staking mining contracts using virtual currencies such as Bitcoin, Ethereum, etc.
- Depending on the Members country of residence, the Member may not be able to use all the functions of the Site. It is the Members responsibility to follow those rules and laws in his/her country of residence and/or country from which the Member accesses this Site.
- The Member acknowledges and agrees that, when completing Transactions, he/she is using an experimental virtual currency to purchase experimental virtual fractional mining contracts and it may include risks of loss of capital as described in these Terms of Service and Risk Disclosure.
- The Member understands this opportunity is directed at persons located in the United States and outside United States. Any person who wishes to use these services must first guarantee that they are not subject to any local requirements that prohibit or restrict access.
- MEMBER’S RIGHTS AND RESPONSIBILITIES
- The Member has the right to enter and use the Site and the Services, as long as he/she agrees to and actually complies with the Member Agreement. By using the Site, the Member agrees to accept and comply with the terms and conditions stated herein.
- The Member undertakes to read the entire Member Agreement carefully before using the Site or any of the services provided by SCM.
- The Member undertakes to comply with any and all applicable laws and regulations related to the Transactions.
- The Member undertakes to monitor all and any changes on his/her Account, including but not limited to the account balance matters.
- The Member agrees that, whenever the Transaction is made, the Platform sends and receives the digital currency sums and/or cryptocurrencies from the Members account in their name and on their behalf, through the IT system.
- The Member undertakes to notify SCM immediately of any unauthorized use of his/her Account or password, or any other breach of security by contacting SCM through our website. Any Member who violates the mentioned rules may be terminated, and thereafter held liable for losses incurred by SCM or any Member of the Site.
- The Member undertakes not to use the Service to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, financing terrorist organizations, or malicious hacking.
- The Member is responsible for any and all damages caused and all liability actions brought against SCM for infringement of third party rights or violation of applicable laws.
- Members are solely responsible for determining whether any contemplated Transaction is appropriate for them based on their personal goals, financial status, risk willingness, and local laws and regulations.
- MEMBERS REPRESENTATIONS AND WARRANTEES
- By creating an Account, the Member expressly represents and warrants that he/she:
- The Member represents and warrants that he/she will only use the Platform to perform Transactions in accordance with the conditions set forth in these Terms and that they are duly authorized and have the capacity to enter into the Transactions on the Platform.
- The Member represents and warrants that the digital currencies deposited to buy the fractional mining contract(s) are actual digital currencies corresponding to actual assets in its coin wallet and coming from legal sources.
- The Member represents and warrants that he is the legitimate owner and is allowed to use all cryptocurrencies deposited on his/her Account and that the Transactions being carried out do not infringe the rights of any third party or applicable laws.
- SYNTROPY CLOUD MINING RIGHTS AND RESPONSIBILITIES
- SCM responsibility shall be limited to using reasonable technical efforts to ensure the receipt of the cryptocurrency transferred.
When initiating cryptocurrency transactions to a user who is not the SCM Member, SCM responsibility shall be further limited to ensuring the transfer of the necessary technical data to the cryptocurrency network.
- SCM is not responsible for any malfunction, breakdown, delay or interruption of the Internet connection, or any other issues with our service, website and platform uptime and smooth operation.
- In the case of fraud, SCM undertakes to report all the necessary information, including names, addresses and all other requested information, to the relevant authorities dealing with fraud and breaches of the law. Members recognize that their account may be frozen at any time at the request of any competent authority investigating a fraud or any other illegal activity.
- Nothing in these terms excludes or limits the responsibility of SCM for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not be limited or excluded by law.
- SCM and this opportunity is directed at persons located in the United States and outside the United States. Any person who wishes to use these services must first guarantee that they are not subject to any local requirements that prohibit or restrict access.
- INTELLECTUAL PROPERTY RIGHTS
- All materials on this Site are the property of SCM or respective cryptocurrency coins, and are protected by copyright, trademark and other applicable laws, unless otherwise specified hereby.
- The Member may view, print and/or download a copy of the materials from the Site on any single computer solely for his/her personal, informational, non-commercial use, provided he/she keeps intact to all copyright and other proprietary notices.
- The trademarks, service marks and logos of SCM and others used on the Site (hereinafter the “Trademarks”) are the property of SCM and its respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on this Site belong to SCM. The Trademarks and other materials on the Site should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated. The use of any materials from the Site on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties. Any Member caught in violation of this section 6.3 will be immediately terminated without the possibility of appeal.
- RULES FOR MAINTAINING MEMBERS ACCOUNT
- The Site is for the Member’s personal and non-commercial use only. SCM is vigilant in maintaining the security of the Site and the Service. By registering with SCM, the Member agrees to provide SCM with current, accurate, and complete information about him/herself as prompted by the registration process, and to keep such information updated.
- The Member agrees that he/she will not use any Account other than his/her own, or access the Account of any other Member at any time, or assist others in obtaining unauthorized access.
- The Member is responsible for maintaining the confidentiality of information on his/her Account, including, but not limited to your password, email, wallet addresses, wallet balances, and of all activity including transactions made through his Account. If there is suspicious activity related to the Member Account, SCM may request additional information from the user, including authenticating documents, and freezing the account for the duration of the review time. The Member is obligated to comply with these security requests or accept termination of his Account.
- The creation of Member Accounts without obtaining their prior express permission from SCM will result in the immediate suspension of all respective Accounts, as well as all pending purchase orders. Any attempt to do so or to assist others, or the distribution of instructions, software or tools for that purpose, will result in termination of said Member Accounts. Termination is not the exclusive remedy for such a violation, and SCM may decide to take further action against the Member.
- Your registered email and phone number is how SCM has direct communication with you. You should always use an email where you have the ability, to send and receive emails. Using disposable emails is not advised. This is not an investment opportunity but there are real values in the coins mined, and we need to have direct 2-way communication with you for certain aspects of your account like requesting payout options, changing passwords, changing payout addresses, and other sensitive account information. Not being able to send or receive emails, contact you by phone could result in loss of your account.
- FEES AND PENALTIES
- SCM may use additional mining hardware (That supplements the requested payouts) that incurs a service cost which may be charged (hereinafter the "Maintenance Cost").
- Maintenance Cost includes: hosting, electricity and upkeep costs for maintaining mining equipment.
- The Maintenance Cost is charged in Bitcoins in the way described here in the Maintenance Cost. This is deducted from cloud based staking Members at the time of principal payout based on section 8.4 and section 25 of the ToS.
- There is a 5% fee charged to the amount being paid out in the form of Bitcoin.
- At any time SCM Reserves the right to adjust payout penalties and their amounts at any time.
- Mining with hardware can be stopped by SCM if the amount of the Maintenance Cost exceeds rewards for each mined Master Block or if the mining is economically inexpedient. The decision to renew hardware mining is made by SCM, taking into account calculations of hardware mining effectiveness.
- SCM holds the right to change the Maintenance Cost amount, as well as the way it charges off.
- PAYOUT FEES: Payouts are not the same as principal withdraws, payouts are the earnings you are paid on your accumulated value of your pro-rata share of coins mined.
- There are fees of 5% associated with Payouts.
- TRANSACTION LIMITS
There is no minimum fractional mining contract that can be purchased. The minimum amount of Bitcoins that can be transacted within the Platform is 0.05000000, with the minimum payout being 0.0500000.
For all financial calculations, SCM uses a rounding policy which rounds to the 8th digit after the separator.
- ILLEGAL TRANSACTIONS
- The Member shall be solely responsible for ensuring that any transfer of cryptocurrency to a Transferee shall be a valid and legal transaction not infringing any laws including money-laundering laws and regulations.
- SCM reserves the right to suspend or terminate your SCM Account at any time if we reasonably believe to be required to do so by the law or in order to comply with recommendations issued by a relevant government authority or recognized body for the prevention of financial crime.
- It is strictly forbidden to use the SCM Account for any illegal purposes, including but not limited to, fraud and money laundering. SCM will report any suspicious activity to the relevant law enforcement agency. The Member is prohibited from using his/her SCM Account in an attempt to abuse, exploit or circumvent the usage restrictions imposed by a merchant on the services it provides.
- It is the Member and not SCM responsibility to ensure that the Member only sends payments to or receives payments from persons or entities for the sale or supply of goods and services that the Member may provide or receive in compliance with any applicable laws and regulations. The mere fact that a person or entity accepts payments through SCM is not an indication of the legality of the supply or provision of their goods and services. If the Member is in doubt of the legality of a supply or purchase, he/she should not continue with the payment.
- ACCOUNT SECURITY REQUIREMENTS
- The Member must take all reasonable steps to keep his/her SCM Account password safe all the time and never disclose it to anyone. SCM personnel will never ask the Member to provide his/her password to SCM or to a third party. Any message the Member receives or website that he/she visits that asks for the password, other than the SCM Website or a SCM payment gateway on a merchant website, should be reported to SCM. If the Member is in doubt whether a website is genuine, it is required to ensure the website is EV SSL compliant (Security Certificate Validation is shown in the address bar of the Member’s web browser).
- It is advisable to change the Member’s password regularly (at least every three (3) to six (6) months) in order to reduce the risk of a security breach in relation to the SCM Account. SCM also advises the Member not to choose a password that is easily guessed from information someone might know or gather about the Member or a password that has a meaning. The Member must never allow anyone to access his/her SCM Account or watch you accessing your SCM Account.
- If the Member has any indication or suspicion of his/her SCM Account, login details, password or other security feature being lost, stolen, misappropriated, used without authorization or otherwise compromised, the User is advised to change the password. The Member must contact Customer Service without undue delay on becoming aware of any loss, theft, misappropriation or unauthorized use of the Members SCM Account, login details, password or other security features. Any undue delay in notifying SCM may not only affect the security of the Member’s SCM Account but may result in the Member being liable for any losses as a result. If the Member suspects that someone else accessed his/her SCM Account, the Member should also contact the police and report the incident.
- SCM may suspend the Member’s Account or otherwise restrict its functionality on reasonable grounds relating to the security of the SCM Account or any of its security features or if SCM reasonably suspects that an unauthorized or fraudulent use of the Member’s SCM Account has occurred or that any of its security features have been compromised. SCM will notify the Member of any suspension or restriction and of the reasons for such suspension or restriction in advance or, where SCM is unable to do so, immediately after the suspension or restriction has been imposed, unless notifying the Member would be unlawful or compromise our reasonable security interests. SCM will lift the suspension and/or the restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist.
- The Member must take reasonable care to ensure that his/her e-mail account(s) are secure and only accessed by the Member, as his/her e-mail address may be used to reset passwords or to communicate with the Member about the security of the SCM Account. SCM cannot be liable for the breach of an e-mail account resulting in an unauthorized transaction to be executed with proper confirmation. In case any of the e-mail addresses registered with the Member’s SCM Accounts are compromised, the Member should without undue delay after becoming aware of this contact Customer Service and also contact his/her e-mail service provider.
- Irrespective of whether the Member is using a public, a shared or his/her own computer to access the SCM Account, the Member must always ensure that his/her login details are not stored by the browser or cached or otherwise recorded. The Member should never use any functionality that allows login details or passwords to be stored by the computer he/she is using.
- Additional products or services the Member uses may have additional security requirements and the Member must familiarize with those as notified to him/her.
- SERVICES AVAILABILITY
- All services are provided without guarantees of any kind, either express or implied.
- SCM will strive to keep the Site up and running; however, all online services suffer from occasional disruptions and outages, and SCM is not liable for any disruption or loss you may suffer as a result. Thus, SCM does not provide any guarantees that access to the Site will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of information.
- FINANCIAL ADVICE SYNTROPYCLOUDMINING.COM
- FINANCIAL REGULATION
SCM business model, and our Service, consists of facilitating the buying, selling and mining of specific cryptocurrencies and their use to purchase goods & services or supply specific functions in an unregulated, international open payment system.
- The Member undertakes to pay all his/her taxes and duties, which can be resulted from the use of SCM Services and should be paid according the Member’s state/country of residence regulations.
- SCM is not responsible for any violation made by the Member due to his/her obligation to calculate and pay taxes and duties.
- Email messages sent over the Internet are not secure and SCM is not responsible for any damages incurred by the result of sending email messages over the Internet. We suggest sending email in encrypted formats.
- GOVERNING LAW AND DISPUTE RESOLUTION
- LIMITATION OF LIABILITY
IN NO EVENT SHALL SYNTROPY CLOUD MINING, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND ALL THIRD PARTY SERVICE PROVIDERS, BE LIABLE TO YOU OR ANY OTHER PERSON OR ENTITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES WHATSOEVER, INCLUDING ANY THAT MAY RESULT FROM (I) THE ACCURACY, COMPLETENESS, OR CONTENT OF THIS SITE, (II) THE ACCURACY, COMPLETENESS, OR CONTENT OF ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (III) THE SERVICES FOUND AT THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (IV) PERSONAL INJURY OR PROPERTY DAMAGE OF ANY NATURE WHATSOEVER, (V) THIRD-PARTY CONDUCT OF ANY NATURE WHATSOEVER, (VI) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SERVERS AND/OR ANY AND ALL CONTENT, PERSONAL INFORMATION, FINANCIAL INFORMATION OR OTHER INFORMATION AND DATA STORED THEREIN, (VII) ANY INTERRUPTION OR CESSATION OF SERVICES TO OR FROM THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (VIII) ANY VIRUSES, WORMS, BUGS, TROJAN HORSES, OR THE LIKE, WHICH MAY BE TRANSMITTED TO OR FROM THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (IX) ANY USER CONTENT OR CONTENT THAT IS DEFAMATORY, HARASSING, ABUSIVE, HARMFUL TO MINORS OR ANY PROTECTED CLASS, PORNOGRAPHIC, “X-RATED”, OBSCENE OR OTHERWISE OBJECTIONABLE, AND/ OR (X) ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF YOUR USE OF THIS SITE OR THE SERVICES FOUND AT THIS SITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL OR EQUITABLE THEORY, AND WHETHER OR NOT SYNTROPY CLOUD MINING IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN ADDITION, YOU SPECIFICALLY ACKNOWLEDGE AND AGREE THAT ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO THIS SITE OR THE SERVICES FOUND AT THIS SITE MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES, OTHERWISE SUCH CAUSE OF ACTION SHALL BE PERMANENTLY BARRED. IN ADDITION, YOU SPECIFICALLY ACKNOWLEDGE AND AGREE THAT IN NO EVENT SHALL SYNTROPY CLOUD MINING TOTAL AGGREGATE LIABILITY EXCEED THE TOTAL AMOUNT PAID BY YOU FOR THE PARTICULAR SERVICES THAT ARE THE SUBJECT OF THE CAUSE OF ACTION. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW AND SHALL SURVIVE ANY TERMINATION OR EXPIRATION OF THIS AGREEMENT OR YOUR USE OF THIS SITE OR THE SERVICES FOUND AT THIS SITE.
SCM reserves the right to change, add or remove portions of these Terms, at any time, in an exercise of its sole discretion. You will be notified of any changes in advance through your SCM Account. Upon such notification, it is your responsibility to review the amended Terms. Your continued use of the Site following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all current and subsequent transactions by you will be subject to the amended Terms.
- LINKS TO THIRD-PARTY WEBSITES
This Site and the Services found at this Site may contain links to third-party websites that are not owned or controlled by SCM. SCM assumes no responsibility for the content, terms and conditions, privacy policies, or practices of any third-party websites. In addition, SCM does not censor or edit the content of any third-party websites. By using this Site or the Services found at this Site, you expressly release Syntropy Cloud Mining from any and all liability arising from your use of any third-party website. Accordingly, SCM encourages you to be aware when you leave this Site or the Services found at this Site and to review the terms and conditions, privacy policies, and other governing documents of each other website that you may visit.
- MINIMUM DEPOSIT POLICY
This policy establishes the minimum deposit in bitcoin (BTC) or altcoins which Syntropy Cloud Mining will accept from clients. The minimums can be changed at any time to ensure each Master Block gains the proper amount of coins being mined, based on the repurchasing of a Master Block in the future.
The deposit minimum for any altcoin or Bitcoin is 0.05000000 BTC.
- PROFIT PAYOUT POLICY
A member may request a profit payment by checking off the box in the option for payouts, accumulate coins in my internal SCM wallet or repurchase of a new block using the amount in my account that meets the minimum purchase price of 0.05 BTC. Payouts are processed on the 28th of each month and Bitcoin will be transferred to your external wallet you have provided by 12:00 PM PST on 5th of the new month.
- RESTRICTIONS TO PROFIT PAYOUT POLICY
One profit payout per Master Block is allowed for each payout period.
WILL MY PROFIT PAYOUT REQUEST EFFECT MY FUTURE EARNINGS?
Yes, once you click on your option to have your profits paid out, your pro-rata share, of coins mined will be deposited into your internal SCM wallet, available for payout, they no longer are purchasing new fractional mining blocks, so you lose the multiplication of blocks mining new coins. But your locked coins will continue to mine new coins until your mining contract expires. Master Block coins that are locked at the beginning of your mining contract are never available for payouts.
- PROFIT PAYOUT FEE POLICY
There is a 5% fee charged (in Bitcoin) for the amount being paid out. The fee will be deducted from each payout of profit made.
WHY IS THERE A PROFIT PAYOUT FEE?
The 5% fee is for the time and expense of liquidating the coins and covering the exchange’s fee for converting the coins into Bitcoin.
- PRINCIPAL DEPOSIT SEVEN (7) DAY LOCK-IN PERIOD POLICY
SCM has an obligation to fulfill our orders in a timely fashion for all our Member’s, SCM reserves the right to lock-in your contract for the full term three (3) years (36 months), after you have a free seven (7) day grace period to rescind your contract(s). The seven (7) day grace period begins when the Bitcoin is received for payment.
- CONTACT US