Longship Invest ApS

Terms and Conditions

Below, you (also defined as “Customer”) can read the terms and conditions (“T&C) that will constitute your investment agreement with Longship Invest ApS.

In your personal dashboard (“Dashboard”), the answers and information you provided during the registration process will be detailed. If you have any questions about the content, please do not hesitate to contact us.

1. Definitions

1.1 Fiat Currency

“Fiat Currency” is used to describe an officially issued currency, such as USD, DKK, EURO, and others.

1.2 Cryptocurrency & Coins

The use of the term “currency” is originally used solely for familiarity. The use of “currency” is therefore not suitable for comparison with the so-called “Fiat Currency,” as explained above. These T&C will subsequently use “Cryptocurrency” and “Coins” as expressions for the Customer’s investment assets.

1.3 Risk Profile

The term “Risk Profile” refers to the Customer’s willingness to accept the risks with their invested funds, which inherently follows any trading, including the trading that Longship Invest will conduct on behalf of the Customer. The concept is also used by regular banks and investment companies, which often categorize their clients as “high,” “medium,” or “low” risk, or as “red,” “yellow,” and “green,” symbolizing the same.

In the context of Cryptocurrency/Coins investment, it will always be considered “high risk” or “red” according to these standards.

1.4 Coinify ApS

Coinify ApS is the partner chosen by Longship Invest for currency exchange between Fiat Currency and Cryptocurrency. Coinify ApS will conduct relevant investigations related to anti-money laundering and counter-terrorism financing on behalf of Longship Invest, as well as on its own behalf.

1.5 Exchange

“Exchanges” are online platforms where Cryptocurrency is traded. They have similarities to traditional stock exchanges, but they exist solely for digital currency. It is not a traditional stock exchange. Longship Invest only trades on reputable exchanges with high security.

1.6 Wallet

A “Wallet” is a type of digital wallet that can be used to store, receive, and send cryptocurrency. There are many types of wallets, depending on the cryptocurrency one wishes to store. A Wallet has a public address, similar to an “account number,” and the address must be used when sending/transferring cryptocurrency to a specific Wallet.

2. About Longship Invest ApS

2.1 Longship Invest is a 100% Danish registered Private Limited Company (ApS), CVR no. 39790394, engaged in cryptocurrency investment on behalf of the Customer.

2.2 Longship Invest aims to be a professional partner to Customers who are seeking to invest in Cryptocurrency. Since the Cryptocurrency field is still unclear in certain areas for regulators, Longship Invest is not subject to financial regulation.

2.3 Longship Invest has developed policies as well as written business processes and procedures in all essential areas, including order execution, anti-money laundering, IT, and data protection. Additionally, the company’s accounts are subject to audit by a Certified Public Accountant.

3. Prerequisites for Entering into an Investment

3.1 Before Longship Invest can make investments on behalf of the Customer, it is a requirement that the Customer completes and submits the electronic registration form for Customers, which can be accessed via Longship Invest’s website at www.longshipinvest.com.

3.2.1 If the Customer intends to invest with Fiat Currency, the Customer must agree to be registered with Longship Invest’s partner, Coinify ApS. Coinify ApS conducts its own assessment of the Customer, and if the Customer cannot be approved as a customer by Coinify ApS, Longship Invest will not be able to enter into an agreement with the Customer. The establishment of a customer relationship with Coinify ApS also takes place through the online registration form on Longship Invest’s website.

3.2.2 If the Customer intends to invest with already owned Cryptocurrency, then the Customer must be verified through third party KYC procedure. Please note that Longship Invest retains the right to reject certain Cryptocurrency assets, and will in that case ask the Customer to exchange the rejected Cryptocurrency into either BTC, ETH or preferably USDT.

3.3 Longship Invest actively participates in combating money laundering and the financing of terrorism. This means that the Customer must undergo identification before investments can be made on their behalf.

3.4 The information that the Customer could be asked to provide and document includes (none exhaustive list):

  • Full name of the company and contact person
  • Passport details of the contact person
  • National identity number
  • CVR number (Company Registration Number)
  • Address
  • Phone number
  • Email address
  • Industry
  • Copy of the company’s registration certificate
  • Information about the legal owners of the company
  • Photo identification of shareholders or owners with ownership exceeding 10%
  • Proof of residence for all shareholders or owners with ownership exceeding 10%, such as a utility bill.
  • Bank statement for the company

3.5 If deemed necessary, Longship Invest reserves the right to request additional documentation from the Customer for the purpose of preventing money laundering and terrorism financing.

4. Commencement

Following the completed and approved KYC procedure(either through Coinify or other third party service) and transfer of the Customers funds and subsequent receipt of these funds by Longship Invest, the Customer has accepted Longship Invest ApS terms and conditions.

5. Handling of Investment

5.1 The Customer declares that they understand Longship Invest is entitled to buy, sell, subscribe, and redeem Coins at its discretion for the invested funds.

5.2 The Customer agrees that Longship Invest will invest on the Customer’s behalf, , in the Coins selected by Longship Invest. Market fluctuations may cause the investment to frequently change in value.

5.3 If Longship Invest deems it most appropriate in a given market situation, Longship Invest may convert the Customer’s invested funds into Fiat Currency. Longship Invest will always strive to invest or reinvest liquid holdings within a reasonable time frame.

5.4 The Customer understands, agrees and confirms that handling of the Customers investment, by Longship Invest, is done at the Customers expense and risk.

6. Reporting

6.1 The Customer will get access to a personal Dashboard, where the Customer may monitor the invested funds.

6.2 If a more detailed report is desired, this must be agreed upon in writing between the Parties, and the Customer should expect that Longship Invest will charge for the time spent. Time will be billed at an hourly rate of USD 200.00 excluding VAT, rounded up to the nearest hour.

7. Responsibility & Risk

7.1 Upon entering into this Agreement, the Customer acknowledges that trading and investing in cryptocurrency are, at the moment, generally not subject to existing financial regulations, and therefore, only the terms and conditions of this Agreement shall apply to the contractual relationship.

7.2 The Customer agrees that trading Cryptocurrency, despite any similarities, is not equal to trading in well-known and established financial instruments. Investing in Cryptocurrency/Coins is not governed by existing concepts used within the financial industry. Therefore, the investment in Cryptocurrency/Coins does not benefit from the protection that exists for other financial institutions, such as investor protection, deposit guarantees, etc.

7.3 The Customer acknowledges that all Cryptocurrency trading and investments, as well as any advice related to them, will be based on future expectations. Therefore, it is not possible to guarantee a specific return, and losses may occur on parts or the entirety of the investment. Longship Invest commits to conducting a qualified assessment of future expectations for each individual Cryptocurrency/Coin, but all risks and losses, both direct and indirect, are solely borne by the Customer.

7.5 The Customer also agrees to bear the risk associated with (but not limited to) legislative interventions, systemic changes, etc., that could potentially have a negative impact on the investment.

7.6 Investment and trading under these T&C will always be at the Customer’s own expense and risk.

7.7 Longship Invest is not responsible for any form of loss, including indirect losses of any kind, unless such losses result from Longship Invest’s gross negligence or intent. Compensation for negligence or intent shall be determined in accordance with the ordinary Danish legal provisions governing compensation for damages. The maximum compensation amount shall never exceed DKK 40,000.00 in aggregate.

7.8 Longship Invest is not responsible for damages resulting from delays or other issues caused by partners, telecommunications companies, internet service providers, other communication services, blockchains, blockchain systems, or any actions taken or caused by an Exchange or any bank.

8. Termination, Breach, & Renegotiation

8.1 The Customer may at any given time, terminate the investment agreement, by giving notice to Longship Invest. Longship Invest will liquify the Customers assets within 24 hours of receipt of said notification.

Depending on the original method of transfer, the Customer funds is returned to the Customer within two weeks of the termination notice.

8.2 If the Customer is terminated due to a material breach, Longship Invest will charge a fee equivalent to 5% of the invested capital, but not exceeding USD 10,000.00. Longship Invest has the right to set off all outstanding amounts against the amount due to the Customer before making any payment to the Customer.

8.3 Failure by a Party to meet its payment obligations and the disclosure obligations under Section 8.7 of these T&C will at all times be considered a material breach.

8.4 Each Party may decide to terminate the investment agreement, in whole or in part, if the other Party materially breaches its obligations. However, the aggrieved Party must provide the breaching Party with written notice of at least 10 business days, indicating the intent to terminate the investment agreement, in whole or in part, if the breach is not remedied by the end of the aforementioned deadline.

8.6 In the event of a reasonable suspicion or proven attempt at money laundering and/or terrorism financing, Longship Invest may terminate the agreement with immediate effect and is entitled to withhold payment of any outstanding amounts until an administrative decision has been made or a judgment has been issued in the matter.

8.7 The Customer is obliged to inform Longship Invest of any changes to the provided Customer information. Failure to do so will be considered a material breach.

8.8 If a breach is due to the Customer’s actions, Longship Invest is entitled to sell all or part of the Customer’s invested funds and offset the amount owed. Losses will be at the Customer’s expense and risk.

9. Invalidity & Legal Interventions

9.1 If any part of these T&C is declared invalid, or if new legislation is enacted after the agreement is entered into, which as a consequence renders parts of these T&C ineffective, the remaining part of the agreement and T&C shall remain unchanged.

9.2 If the agreement becomes unreasonably burdensome for Longship Invest as a result of government intervention, such as legislation, the disappearance of existing coins, etc., Longship Invest may terminate the agreement without liability and without being subject to claims from the Customer.

10. Relationship with Authorities & Sampling

10.1 Longship Invest is aware that criminals often find alternative solutions for money laundering and terrorism financing, which is why Longship Invest will continuously conduct checks and continually work to improve its ability to detect potential misuse. If Longship Invest identifies any instances of misuse or has suspicions of such, this will result in reporting to the relevant authorities. Longship Invest is not obligated to inform the Customer about the conduct of checks or if reporting to the relevant authority takes place.

10.2 Longship Invest recommends that the Customer seeks tax advice regarding their investments and their potential returns and/or losses at all times.

10.3 Longship Invest is not obligated to report tax-related matters to Danish tax authorities but will provide relevant information if required by the relevant authorities.

10.4 It is solely the Customer’s responsibility to ensure that the Customer reports relevant information about their investments to the appropriate authority.

11. Abuse, Suspicion, & Suspension of Customer Relationship

11.1 Longship Invest reserves the right to suspend and/or terminate the investment agreement if there is reasonable suspicion of money laundering and/or abuse, as per Section 8 of the Agreement.

11.2 Expenses and any losses incurred in connection with the suspension of the customer relationship shall be at the Customer’s risk and expense.

12. Force Majeure

12.1 Neither Party under this Agreement is obligated for breach or delay in their performance under this Agreement, except for payment obligations, arising from circumstances beyond their control, including but not limited to war, terrorism, revolution, natural disasters, unauthorized actions by third parties, government interventions, telecommunication, electrical failures, strikes, and labor disputes, or other “acts of God”/Force Majeure.

12.2 The party claiming force majeure must document the circumstance no later than 10 days after its occurrence. If the circumstance can be asserted for an uninterrupted period of 3 months, the Party may withdraw without any costs other than the actual expenses the other Party has had to bear during that period.

13. Data Protection & Disclosure of Data

13.1 Longship Invest complies with Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 and the Data Protection Act, Act No. 502 of 23 May 2018, regarding the protection of personal data.

13.2 Longship Invest is the data controller in relation to the personal data of the Customer as per the data protection laws.

13.3 The Customer is aware of and has accepted that personal data is managed by Longship Invest in accordance with the data protection policy outlined at https://www.longshipinvest.com/privacypolicy/. Information on processing and options for filing complaints can be found in the data protection policy. The Customer has accepted the data protection policy through online registration.

13.4 Currently Longship Invest has partnered with Idenify.com for due diligence procedures for Customer who selects to invest with already owned Cryptocurrency and Coinify ApS and for customer due diligence procedures and payment handling for Customers who select to invest with Fiat Currency. To make this process seamless for the Customer, Longship Invest has created an API (programming) that automatically forwards some of the information provided during online registration to the third-party service. All data is transferred encrypted.

13.5 The third-party service provider independently obtains consent for the processing of the Customer’s personal data and does not retain the data that is automatically transferred if the Customer interrupts the registration process for a customer relationship with the third-party service provider. The third-party service provider assumes the role of an independent data controller for the information transferred from Longship Invest ApS.

13.6 If Longship Invest discloses information about its customers, it will only do so as necessary for the administration of the customer relationship. All disclosures of personal data will be protected by data processing agreements, cf. data protection policy.

13.7 Longship Invest is entitled to fulfill its obligations, in whole or in part, through subcontractors.

14. Confidentiality

14.1 The Parties and their employees are subject to unconditional confidentiality regarding any knowledge, information, or documentation about the other Party’s affairs, including but not limited to plans, products, finances, customers, etc., which the Parties or their employees may come into possession of in connection with deliveries under this Agreement.

14.2 The obligation includes the definition of “trade secrets” as defined in Act No. 309 of April 25, 2018, on Trade Secrets concerning the illegal acquisition, use, and disclosure of trade secrets.

14.3 Both Parties commit to taking reasonable measures to maintain the confidentiality of the provided confidential information. However, confidentiality does not apply to information that is or becomes publicly available or is already in the receiving Party’s possession without a corresponding obligation of confidentiality.

14.4 Any documented breach of the confidentiality obligation entitles the injured Party to liquidated damages of DKK 100,000.00 per violation.

15. Marketing

15.1 Unless otherwise agreed in writing, Longship Invest is not entitled to use the Customer as a reference in connection with marketing, reference lists, etc. Furthermore, Longship Invest is not allowed to disclose information about the Customer or information received in connection with the execution of work for marketing purposes.

16. Intellectual Property Rights

16.1 Longship Invest holds and retains all copyrights and intellectual property rights related to programs, robots, systems, and models in accordance with applicable laws. If these are provided to the Customer for their use and application, they may not be disclosed to third parties without written permission from Longship Invest.

16.2 The Customer’s payment for services under this Agreement does not affect the rights to copyrights and intellectual property rights.

17. Transfer to Third Party

17.1 The Customer’s transfer of their rights and obligations under these T&C may only be done with written permission from Longship Invest. If a third party can be approved in accordance with Longship Invest’s current procedures for combating money laundering and terrorist financing, Longship Invest may only object to the Customer’s transfer of their commitment if substantial or competitive reasons can be invoked.

17.2 Longship Invest may transfer its rights and obligations under these T&C by providing written 30 days’ notice to the Customer.

18. Choice of Law & Jurisdiction

18.1 All disputes arising from these T&C shall be governed by Danish law.

18.2 In case of disputes, the Parties are obliged to engage in mutual good-faith negotiations in an attempt to reach an amicable resolution of the dispute. Each Party selects 1 (one) person to conduct these negotiations.

18.3 Any dispute arising in connection with this agreement that cannot be resolved amicably under Clause 18.2 shall be settled by a competent Danish court determined by Longship Invest’s jurisdiction.

18.4 If you wish to make a complaint about your Investment, the Customer may email us at contact@longshipinvest.com,  with brief details of your complaint and the phone number and email address associated with your account

We will acknowledge your complaint by email within five business days. The email will contain details of the complaints handling procedure.

We will send you a final response to your complaint within 8 weeks.