Terms & Conditions
INTRODUCTION
THESE TERMS OF SERVICE APPLY TO THE USE OF THE PRENZA.ORG CLOUD MINING SERVICE AND PRENZA WEBSITE LOCATED AT PRENZA.ORG AND ITS SUBDOMAINS. THE WEBSITE AND THE SERVICE ARE THE PROPERTY OF PRENZA corp.
THEY SET OUT HOW THE PRENZA.ORG CLOUD HOSTED CRYPTOCURRENCY MINING SERVICE WORKS AND DESCRIBE ANY ASSOCIATED RIGHTS AND RESPONSIBILITIES. THE PRENZA.ORG TERMS OF SERVICE AND ANY INSTRUCTIONS, GUIDANCE AND SIMILAR INFORMATION FOUND ON THE WEBSITE (FROM TIME TO TIME) ALSO APPLY TO HOW YOU USE THE PRENZA.ORG CLOUD MINING SERVICE (TOGETHER THE "AGREEMENT"). BY USING THE WEBSITE AND/OR THE SERVICE, YOU AGREE TO THESE TERMS OF SERVICE; IF YOU DO NOT AGREE, DO NOT USE THE SITE AND/OR THE SERVICE.
PRENZA RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO AMEND, CHANGE, MODIFY, ADD OR REMOVE PORTIONS OF THESE TERMS OF SERVICE, AT ANY TIME. IT IS YOUR RESPONSIBILITY TO CHECK THESE TERMS PERIODICALLY FOR CHANGES. THE CURRENT VERSION OF THESE TERMS IS AVAILABLE AT HTTPS://PRENZA.ORG/TERMS. YOUR CONTINUED USE OF THE WEBSITE AND/OR THE SERVICE FOLLOWING THE PUBLISHED UPDATES TO THE TERMS WILL MEAN THAT YOU ACCEPT AND AGREE TO THE CHANGES. AS LONG AS YOU AGREE AND COMPLY WITH THESE TERMS, PRENZA GRANTS YOU A PERSONAL, NON- EXCLUSIVE, NON-TRANSFERABLE, LIMITED PRIVILEGE TO ENTER AND USE THE WEBSITE AND THE SERVICE.
CLOUD MINING INVOLVES FINANCIAL RISKS AND MAY NOT BE APPROPRIATE FOR ALL PEOPLE. THE INFORMATION PRESENTED HERE IS FOR INFORMATION AND EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED AN OFFER OR SOLICITATION TO INVEST TO PRENZA OR ELSEWHERE. ANY INVESTMENT DECISIONS THAT YOU MAKE ARE SOLELY YOUR RESPONSIBILITY. PRENZA DOES NOT PROVIDE SERVICE FOR USA RESIDENTS.
ABOUT THE SERVICE
1.1. This is an agreement (referred to as "Terms") between PRENZA Corp. (also referred to in these Terms as "", "PRENZA", "we", "us" or "our") and you (also referred to in these Terms as "Customer", "you", "your"), the person accessing and using the PRENZA.ORG cloud mining service and accepting these Terms.
1.2. In these Terms:
1.2.1. a reference to "Cryptocurrency", "Cryptocurrencies" is a reference to the distributed, decentralized peer-to- peer digital currencies:
1.2.1.1. "Bitcoins" is a reference to a Cryptocurrency known as Bitcoin;
1.2.1.2. "Altcoins" is a reference to all Cryptocurrencies other than Bitcoin, such as Litecoin;
1.2.2. "Miners" are individuals who register to mine Bitcoins and/or Altcoins with a Cloud Machine. If you successfully apply to administer a Cloud Machine, you will be a Miner;
1.2.3. a "Mining Pool" is an organized association of Cryptocurrencies miners. The members of these associations work together to mine Cryptocurrencies and those Cryptocurrencies are distributed amongst the membership based on the contribution made to the mining by each member;
1.2.4. the "Mining Hardware" is the computer hardware, not owned but used as a source of mining efficiency and costs calculation by PRENZA;
1.2.5. "Hashrate" or "Hash rate" is the mining power of the Mining Hardware used to mine Cryptocurrencies. Hashrate is mining algorithm specific (SHA-256, Scrypt, X11 etc);
1.2.6. "Cloud Machine" is the virtual mining power of the Service purchased by a Miner and administered by a Miner using the Website. “Cloud Machine” is a derivative of a real mining machine;
1.2.7. "Service" is PRENZA contract, which enables individuals to virtually mine Cryptocurrencies for themselves. PRENZA contract performance is deriving from Mining Hardware efficiency and costs. PRENZA “Service” in no way should be considered as a purchase of real mining equipment;
1.2.8. the "Support" or "Customer Support" or "Helpdesk" is the technical support service of PRENZA that is provided via email/ticket system, available in the PRENZA knowledge base/FAQ at http://support.PRENZA.ORG where Customers can find answers to general questions and request assistance by submitting a request;
1.2.9. the "Panel" is the graphical user interface of the Service, with which the Miner interacts to perform all actions related to the Service;
1.2.10. the "Website" is PRENZA.ORG and any apps, software, emails or other websites which we use to provide the services of PRENZA.ORG (which includes the Service);
1.2.11. a "Payout" is the periodic deposit to your Balance, dependent on your Cloud Machine. PRENZA may change the periodicity of Payouts at any time, to a maximum of once per 24 hours;
1.2.12. "Fees" are maintenance and electricity fees, charged daily from the Balance;
1.2.13. "Account" is your personal access to the Service, described further in section 6;
1.2.14. "Balance" is your personal Account balance;
1.2.15. a "Contract" is the access to a Cloud Machine of specific Hash rate;
1.2.16. a "Contract Term" is the period of time for which a Miner has agreed to pay to administer a Cloud Machine, by default, PRENZA provides lifetime Contracts that do not have an expiry date, unless stated otherwise;
1.2.17. "Hold" is the state an Account can be placed in that prevents the said Account to make any withdrawals, used as a security measure;
1.2.18. a "Pre-order" is a Contract with a start date in the future. Start date is estimated and is subject to change;
1.2.19. the "Referral Program" or "Partner Program" is the functionality that allows a Customer to receive financial rewards for Contracts purchased by other Customers;
1.2.20. a "Referral Code" is an alphanumerical sequence that is linked to a Customer's Account;
1.2.21. a "Referral Link" is the URL with a Referral Code, that allows a new Customer to register with PRENZA;
1.2.22. a "Referral" is a Customer who registered by using another Customer's Referral Link;
1.2.23. a "Referrer" is a Customer who had another Customer register using their Referral Link;
1.2.24. a "Referral Purchase" or "Referred Purchase" is a purchase made by a Referral;
1.2.25. a "Referral Bonus" is the reward a Referrer receives for a Referral Purchase;
1.2.26. an "Affiliate Network" is a third-party website that allows any person (with or without a PRENZA Account) to receive financial rewards for PRENZA Contracts purchased by referred Customers.
1.3. These Terms apply to any mining you undertake by using the Service and Website and they form a legal agreement between you and PRENZA on the acceptance of you application for an Account (as set out below).
1.4. If there is ever a conflict between these terms of service and the PRENZA terms of use or the instructions, guidance and similar information found on the Website, these terms of service will take priority.
1.5. IT IS NOT POSSIBLE FOR US TO STATE DEFINITIVELY HOW MANY BITCOINS, LITECOINS AND/OR ANY OTHER CRYPTOCURRENCY UNITS WILL BE MINED BY ANY MINER AND/OR SPECIFIC CLOUD MACHINE.
1.6. By applying to register as a Miner you are confirming that you understand and accept (and are able to understand and accept) these terms of service and that you agree that you will be bound by them. You should regularly check the Website for changes to the terms of service, instructions, guidance and similar information found on the Website.
1.7. You may only apply to register as a Miner if:
1.7.1. you are 18 years old or over; and
1.7.2. it is lawful for you to do so.
1.8. To register as a Miner, we may require you to provide us with identification or other documentation in order to help us prevent fraud or money laundering. This may include photographic identification and a recent proof of address. We may also undertake our own identity, fraud and credit checks.
1.9. It is forbidden for Miners to visit the Website or use the Service through anonymous proxies (such as Tor) and other services or technologies that hide the real internet connection of the user.
RISK NOTICE
2.1. Actions with Cryptocurrencies carry inherent risks. Due to the fact that Cryptocurrencies are unregulated and decentralized, their value is not insured by any legal entities. The value of any Contract, any amount of any Cryptocurrency is subject to change by PRENZA due to a number of factors out of PRENZA’ control. These factors include but are not limited to changes of mining difficulty and/or other mining parameters/properties, fluctuating price (in fiat currency to Cryptocurrency exchange rate, such as USD/BTC) of Cryptocurrencies. You understand and agree that the worth of any Contact and any amount of mined Cryptocurrency may lose all worth at any moment of time due to the nature of Cryptocurrencies. You understand that you are solely responsible for management of the Cryptocurrencies in your balance as well as any losses or charges incurred by any third-party entity.
2.2. Any information related to Cryptocurrency and Cryptocurrency mining that is/was posted, published and/or provided by PRENZA via any channel of communication (including but not limited to: on the Website, in the Panel, via the Support Service, via Email newsletter, in social media) is subject to change.
CRYPTOCURRENCIES
3.1. You must not mine, buy, sell, exchange, hold, own or otherwise use or exploit Cryptocurrencies in any way which is prohibited by the laws or regulations which apply to you.
3.2. Cryptocurrencies may not be appropriate for everyone. Before mining any Cryptocurrencies you should learn about them to ensure that they are appropriate for you. Like all currencies, there are disadvantages to using Cryptocurrencies. Some of the risks particular to Cryptocurrencies include:
3.2.1. currency fluctuation - the price of Bitcoin and/or any other Cryptocurrency may fall sharply and may even fall to zero;
3.2.2. transactions with Cryptocurrencies may be unconfirmed for a period of time. Although very unlikely, some Cryptocurrency transactions may never be confirmed - Cryptocurrency transactions which are unconfirmed are not completed;
3.2.3. transactions with Cryptocurrencies are irreversible - if you send any amount of any Cryptocurrency to the wrong person, you may be unable to recover those funds;
3.2.4. Cryptocurrencies may be lost if you lose or forget any PINs or passwords necessary to access and spend those Cryptocurrencies;
3.2.5. unknown technical defects inherent in Cryptocurrencies; and
3.2.6. new regulation which impacts the use of Cryptocurrencies.
3.3. By agreeing to these terms of service or by mining Cryptocurrencies by using the Service, you are indicating that you understand, are capable of understanding and accept the risks associated with Cryptocurrencies.
CONTRACT TERM AND MINING TERM
5.1. These Terms of Service are valid indefinitely, even after Account termination.
5.2. The Contract Term for PRENZA.ORG Cloud Machines is unlimited by default, unless stated otherwise. The Contract is valid while profitable, until expired or until terminated (refer to section 13), whichever comes first.
5.3. Contracts with a stated expiry date will end on the date of expiry and the Cloud Machine is stopped.
5.4. Pre-order Contracts that are not activated immediately on purchase will activate on the stated date.
5.5. The Mining process continues until said mining is profitable. This means the Mining process will stop if the Maintenance and Electricity Fees will become larger than the Payout. If mining remains unprofitable for 21 consecutive days the Service is permanently terminated (Hashrate type specific). During the consecutive 21 day period, Payouts and Fees will also be temporarily stopped. If during the suspension period, the Contract- related mining factors (such as the exchange rate and mining difficulty) that are outside of PRENZA control will change favorably, making mining profitable again, the Service will be unsuspended and contracts reactivated. Initial cost is not refunded after contract ends.
5.6. PRENZA reserves the right to change the launch date, Contract Term and/or Mining Term of any Contract.