Welcome to the Praxon Privacy Policy. Here, we outline how we handle your personal information on our Platform, which includes our website praxon.io and mobile application (collectively referred to as the “Platform”). When we say “we,” “us,” or “our,” we’re referring to Praxon.
Praxon is owned and operated by Future Horizons EOOD, a company registered at Sofia 1797, Studentski District, 91B Metodi Andonov str., entr. A, ap. 14, Bulgaria, email: support@praxon.io. We are authorised to provide virtual currency exchange services
This Privacy Policy supplements our obligations under Privacy Laws and ensures that your personal information is handled responsibly.
This Policy explains how we collect, use, and disclose personal information from both current and prospective customers or users (“you” or “your”) of the Platform, including any account services provided through it. This Policy and our Platform Terms and Conditions are available at [link to Terms and Conditions].
“Personal Information” refers to any information related to an identified or identifiable individual. We do not consider Personal Information to include anonymized information that cannot be used to identify a specific user.
Your Acknowledgement of This Policy
When you provide us with your Personal Information or give us consent to collect it, you are acknowledging that you have read and comprehended this Policy. You also consent us to collect, use, and disclose your personal information as outlined in this Policy and any other applicable arrangements between us.
Information Collected
Types of Personal Information We Collect:
We collect two main types of Personal Information:
- Non-Personally Identifiable Information: This category encompasses non-personally identifiable data and statistical information. Non-Personal Information consists of technical and behavioural data not directly associated with a specific individual (“Non-Personal Information”). This includes details such as your device type, browser type and version, IP address, screen size and resolution, language preference, and other technical data. While it may not directly identify an individual, it could be reverse-engineered to identify someone and is therefore considered Personal Information.
- Personally Identifiable Information: This type of information identifies an individual or contains private and sensitive details. It includes:
- Contact Details: This encompasses your email address, phone number, full name, date of birth, gender, residential address, and postal address.
- Financial Data: This includes information about cryptocurrency accounts, bank details, tax identification numbers, income and asset verification statements, and transaction history.
- Documents and Data: We may collect documents and data during our Know-Your-Customer (KYC) process. This can include photocopies of government-issued IDs, passports, driver’s licence, occupation and workplace details, videos containing your image, proof of address, utility bills, and other information provided in our forms, such as your source of wealth and source of funds.
How We Collect Your Personal Information
Methods of Collection:
We collect your Personal Information through various methods:
- When you visit our platform: Information sent to us by your computer, mobile device, or access device is collected when you visit our Platform. This data may include your IP address, browser type, operating system, and other device characteristics.
- When you register for our services: During registration, we collect information like your name, email address, phone number, date of birth, residential address, and postal address. Additional information, such as driver’s licence and passport numbers, may be collected for identity verification.
- When you use our services: Information about your transactions and activities on our website is collected when you use our services. This includes transaction amounts, dates, times, and recipient details. For fraud prevention, we may also collect device-related information.
- Fraud prevention: Information about your interactions with our Platform is gathered to safeguard against fraud and misuse. We assess your device, such as computers or mobile phones, to detect malicious software or suspicious activity that could impact service availability.
- Other methods: We may collect additional information in various ways, such as through interactions with our customer support team.
Purposes of Collection and Processing:
The collection and processing of your Personal Information serve the following purposes:
(a) Providing Requested Services: Your Personal Information is used to provide requested services, such as account creation, transactions, and customer support.
(b) Communication: We use your Personal Information to communicate with you regarding your account, transactions, and related matters. This includes sending account statements, confirmation emails, and fraud alerts.
(c) Fraud and Security: Protecting users and the Platform from fraud and illegal activities is a priority. Your Personal Information is employed to identify suspicious activities and enforce our terms of service.
(d) Service Enhancement: We utilise your Personal Information to enhance our services and the Platform. This involves developing new features, resolving issues, and assessing the effectiveness of marketing campaigns.
(e) Direct Marketing: With your consent, we may use your Personal Information to deliver direct marketing, service updates, and promotional offers based on your preferences.
(f) Compliance: To comply with applicable laws and regulations, especially those related to anti-money laundering (AML) and KYC (Know Your Customer), we may use your Personal Information.
Please note that we only send direct marketing communications if you have opted in to receive them.
How Can We Contact You?
If you have registered for our services, we may periodically send you updates and promotional emails related to our service. You have the option to opt out of these communications at any time. However, please note that you cannot opt out of transactional emails, such as updates on payments, withdrawals, or cryptocurrency purchase orders.
Furthermore, if you have expressed interest in our products or services, we may contact you regarding those specific offerings through email, phone, text, or postal mail.
Right To Access, Edit, Update, Or Delete
You have the right to access, edit, update, or delete your account or the Personal Information we have collected from you. You can do this anytime by accessing your account settings or contacting us at support@praxon.io. We will respond to your request within a reasonable timeframe, as applicable laws require.
Circumstances Where We May Not Accommodate Your Request:
(a) It is important to note that there may be circumstances in which we cannot fulfil a request to edit, update, access, or delete your account profile or Personal Information. These circumstances include but are not limited to:
- Situations where such a request can be denied under applicable law.
- Cases where we are required to retain information to comply with federal, state, or local laws or for accounting or tax purposes.
- Instances where we must comply with a civil, criminal, or regulatory inquiry, investigation, subpoena, or summons by federal, state, or local authorities.
- When cooperation with law enforcement agencies is necessary regarding conduct or activity believed to potentially violate federal, state, or local laws.
- When retaining information is essential for the exercise or defence of legal claims.
- If the information contains legal privilege or proprietary information belonging to another party.
- When complying with the request would compromise the privacy or other legitimate rights of others.
(b) In cases where we cannot fulfil a particular request, we will explain this decision and a contact point for further inquiries. To protect your privacy, we will take commercially reasonable steps to verify your identity before responding to any request under this provision, including compliance with any applicable legal requirements for identity verification.
(c) By applicable laws, we reserve the right to charge a reasonable fee for handling and processing your requests for accessing your Personal Information, where applicable. If we charge a fee, we will provide you with a written estimate. Please note that in many jurisdictions, we are not obligated to respond to or address your access request unless you have agreed to pay the fee.
How We Maintain The Accuracy Of Your Personal Information
We are dedicated to ensuring that the personal information we collect, use, and disclose remains relevant, accurate, complete, and up-to-date.
We encourage you to reach out to us to update any personal information we have on record about you. In cases where we rectify information that has been previously shared with another entity, we will notify that entity of the correction within a reasonable timeframe. If we determine that information is inaccurate, we will take appropriate steps to rectify it within 30 days, unless you specify a different arrangement. Please note that we do not charge any fees for correcting your information.
Sharing Personal Information With Third Parties
Disclosure to Third Parties:
Your personal information may be shared with third parties for the purposes outlined in this Policy or as specified in any additional privacy provisions that apply to particular products and services offered by the Platform. We may disclose your personal information to the following third parties, distinct from Platform members to whom you have provided your Personal Information:
- Our partners who assist us in the KYC process and provide additional support for using our services.
- Third-party service providers who perform functions on behalf of or for the Platform.
- Government agencies, law enforcement, regulatory bodies, and other third parties as required by applicable laws and regulations.
- Organisations involved in facilitating payments on our behalf, including banks, third-party payment processors, and other financial institutions that process your payment information.
- Agents, contractors, or service providers engaged to perform various functions and activities, such as bankers, lawyers, accountants, debt collectors, and other advisors.
- Other companies in the event of a merger, divestiture, or other corporate reorganisation.
- Any other individual or entity authorised by you for disclosure or as required by law.
- Any other third party with your consent or as authorised or mandated by law.
Where necessary, such as when transferring data to service providers, we establish suitable contractual arrangements and security measures to safeguard the shared Personal Data and adhere to our data protection, confidentiality, and security standards and obligations.
Location Of Your Personal Information
The personal data collected from you, as outlined in this Privacy Policy, may be transferred to and stored on servers located in countries outside your jurisdiction and countries that adhere to the standard contractual obligations of our third-party providers.
Additionally, it may be processed by the staff of our suppliers, service providers, or partners operating outside your country.
We are deeply committed to safeguarding your Personal Data. To this end, we will take all necessary measures to ensure that your Personal Data is processed and stored securely and complies with applicable privacy laws, as described in this Privacy Policy. These measures may include implementing data transfer agreements or ensuring that third-party service providers adhere to our data transfer protection protocols.
By submitting your Personal Information through the Platform, you acknowledge and, where required by law, consent to such transfer, storage, and/or processing of Personal Information, even if it occurs in a jurisdiction different from yours.
Cookies and Tracking Mechanisms
We utilise both first-party and third-party cookies when you access our Platform. Cookies are small text files stored in your computer browsers to save your preferences. Our Platform and our third-party partners collect and retain information generated automatically as you interact with it, encompassing your preferences and anonymous usage statistics.
We gather information about your device and employ tracking mechanisms like cookies to:
- Simplify customer use of our Platform;
- Enable customization of our online services and website features;
- Eliminate the need for customers to re-enter data;
- Store customer preferences for specific types of information;
- Enhance security measures and
- Compile data about the usage of our website and mobile applications for research and promotional purposes.
We utilise cookies provided by third-party service providers to facilitate website tracking and enhance security measures. We may share the information collected with third parties acting as our service providers, who are obligated to uphold the confidentiality of this information.
We use these cookies and other technologies based on various factors, including their necessity for the performance of a contract with you, our legitimate interests (where we have determined that such interests do not outweigh your rights), and, in some instances, legal requirements or your explicit consent.
Security
We take reasonable measures to safeguard the security of the personal information we collect. Your Personal Information is stored in an environment equipped with reasonable security measures, whether written or electronic, or both.
We have established security procedures, controls, and protocols across all our physical facilities and digital environments to mitigate the risk of interference, loss, misuse, unauthorised access, alteration, or disclosure of Personal Information.
Nevertheless, we cannot guarantee that unauthorised access or use will never transpire due to inherent risks associated with transmitting information over the internet or other electronic storage methods.
In the event of a breach compromising the security, confidentiality, or integrity of your Personal Information, we will adhere to applicable laws and inform you of such a breach if mandated by relevant regulations.
To the extent that we implement the requisite security measures stipulated by applicable laws, we shall not be held responsible or liable for unauthorised access, hacking, or other security breaches or for the failure to store, or the theft, deletion, corruption, destruction, damage, or loss of any data or information encompassed within the Personal Information.
Data Retention
We will retain your Personal Information as long as we deem it accurate and reliable. Any Personal Information that is no longer necessary for its initial collection purpose will be deleted unless we possess a valid justification for retaining it as permitted by applicable law, such as the need to resolve disputes or fulfil our legal obligations.
Data Breach Notification
We adhere to local authorities’ guidelines for data breach notifications in case of a data breach involving your Personal Information. Should such a breach occur, we are committed to notifying you within 72 hours of becoming aware.
Contact Us
If you have questions about this Policy, please mail us at Sofia 1797, Studentski District, 91B Metodi Andonov str., entr. A, ap. 14, Bulgaria.
You can also contact us:
- via phone: +35924373071
- via email at: support@praxon.io
- via this link: https://praxon.io/reach-us/