CRYPTOBLOCK S.L. ENGLISH
MANAGEMENT SERVICES, ADMINISTRATION AND CRYPTOASSETS ACQUISITION
PURCHASING PROCESS PROPOSAL
Below is a brief description of the procedures to be followed by our company in the process of acquiring cryptoassets, in this case Bitcoin (Btc), in the international markets.
The client or representative, will have to take part in the assets management process and the verification of the same one in the markets where the purchases will take place.
CryptoBlock offers its services as a Broker, in addition to all the technological support and training necessary during the purchase and storage process, addressed to the person or institution in charge of the custody or access to the assets.
PRELIMINARY PHASE. CLIENT VERIFICATION
The process will begin with the delivery of the necessary documentation to verify compliance with money laundering regulations, not proceeding with the following phases until the legally established protocols for this purpose are complied with.
In this phase the buyer will be informed about the nature of the investment to be made and the risks involved in order to give an informed consent about the completion of the purchase operation.
1. FIRST PHASE. MARKET VERIFICATION AND WALLETS ACTIVATION.
This first part will consist of having a meeting in a private place with the client to verify his identity in the markets, activate the cold wallets and the bank account verification.
Once the required information has been verified, the client will be sing up in a single or diverse markets. The method to be used depends on the origin of the funds, such as currency, country of residence and modus operandi according to the characteristics of the global purchase project.
The client will have the option of choosing the storage portfolios that will be presented, being able to opt for the greater security and comfort within the different options and prices available in the market.
The process of creating private keys is undoubtedly the most important process of the project, which is prepared with the most professional techniques available and with rigorous control of access and safeguarding them.
This process is the basis for the long-term success of cryptoassets protection.
A. For the legal inscription in the markets, it is necessary to know if the client will be verified as a physical or legal person. Depending on the modality chosen, one type of official documentation or another will be necessary.
These documents should be located at the meeting place between the parties, in order to scan or photograph them so that they can be uploaded as a digital file to the markets. It should be noted that these processes may require from a few hours to days, with the possibility of carrying out the process without the necessary presence of the client thanks to digital formats.
B. COLD WALLETS ACTIVATION AND PRIVATE KEYS SAVE GUARD
This process will be elaborate depending on the client preferences such as where and how they will be creating the cold wallet and how they prefer to keep save their own keys. CryptoBlock will advise in the whole process with the most sofisticated and safe tools for the private keys save guard.
C. BANK ACCOUNT VERIFICATION
The client's bank account must be verified prior to the global purchase process, which is carried out through a symbolic money transfer to link the client's current account with the market.
D. WHITELISTS ACTIVATION
The different markets offer the possibility of activating the "white list" of withdrawal addresses as favorites, which will become the only addresses to which the cryptoassets can be sent from the customer's personal account in the market.
The security of this process can be increased thanks to a phone app that the client or his representative would control, which generates random codes that must be entered into the market to authorize funds withdrawal.
In this way, the client will have always total control of the cryptoassets from their acquisition in the markets to their disposal in their personal wallets.
E. FIRST BUY
Once the previous steps have been carried out, the first purchases in the markets will be carried out, these buys will have a reduced value in order to corroborate the integrity and security of the technical, formative and legal processes involved in the process.
2. SECOND PHASE
Once the first purchase process is completed, CryptoBlock will negotiate in the markets the purchases that will be carried out from the markets in which it was previously verified.
Each market has a different kind of operation and liquidity, but in general purchases must be negotiated in advance when they exceed $100,000.
The volume of purchase stipulated for each client will depend on different factors such as the liquidity of the market and the amount of cryptoassets to be acquired.
The total number of cryptoassets acquired at the end of the project will be an average of all purchases made at the price of the asset previously negotiated with the markets or purchased directly in the order book.
3. SERVICE FEES
A. The commission that CryptoBlock would receive for the performance of the service is defined as ___ % VAT not included. This amount could be increased by indirect taxes on the operation, such as VAT.
The cost of material and licenses necesasary to carry out the operation do not form part of the commission and will be paid separately.
For the commission payment period, CryptoBlock will receive its commission in accordance with the weekly settlements made on the amount of digital assets actually acquired. These settlements will commence upon notification by Cryptoblock of the commencement of trades.
The commission will be paid in EUROS and CryptoBlock may choose to receive part of its commission on digital assets like Bitcoin.
B. Upon signature of this contract by all parties involved, Cryptoblock S.L. will receive a deposit in advance that the customer will deposit in the bank account associated with CryptoBlock S.L. for the preparation of the service, for purchases of devices and other expenses that will arise in the first tranche of the project.
C. In the event that CryptoBlock S.L. should have to carry out any type of movement for the activation and subsequent maintenance of the purses, the customer must assume the expenses that may arise from transport and daily expenses. The amount of these expenses is included in the deposit made by the customer and referred to in the previous point.
D. In the event that the customer desists from purchasing digital assets once the purchase of devices has been made, and the initial project preparation, the full amount paid will not be refunded. In this case, CryptoBlock S.L will justify the expenses incurred by the buyer referred to in sections B and C, and will return 50% of the remainder of the deposit to the same, leaving the remaining 50% in the hands of CryptoBlock in order to compensate for the expenses caused by the same in relation to the actions carried out to date.