Privacy policy | Myntkaup

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Last updated: December 17, 2023

Myntkaup ehf., id. 520717-0800, with registered office at Borgartún 27, 105 Reykjavík (hereinafter "Myntkaup" or "we").

Myntkaup places great emphasis on protecting the personal information of its customers and respecting their rights. This policy explains how Myntkaup works with personal data, for what purpose, how long it is stored, its dissemination and how its security is ensured in Myntkaup's activities. All processing of personal information is carried out in accordance with the applicable personal protection laws at any given time.
In this privacy policy we explain:

What information we collect and how
How we use the information
How long the information is stored
Who has access to the information
How we ensure the security of personal information
Users' rights in relation to the processing of personal information

If further clarification is needed, you can contact us at any time by sending an email to myntkaup@myntkaup.is.

1. What information do we collect and how

The collection and processing of personal information is a prerequisite for Myntkaup to be able to provide its services. Information that Myntkaup processes is normally classified as general personal information.

When a user registers at Myntkaup, he directly sends Myntkaup personal information that proves his identity, e.g. name, email address and phone number. According to the Icelandic Act on Data Protection and the Processing of Personal Data No. 90/2018 (hereinafter "Privacy Act"), Myntkaup is considered the responsible party for this information. The user provides the necessary information so that Myntkaup can provide the services covered by the business relationship. This information is e.g. name, social security number, address, email address and bank account.

The user also provides personal information indirectly, e.g. about IP addresses, when the user registers and when the user visits Myntkaup’s website where cookies are used and activity registration is carried out. More information about cookies can be found on Myntkaup’s website. The information is stored for traceability and security purposes.

Myntkaup only accepts personal information from third parties, i.e. companies or organizations that have personal information about an individual, when such parties are authorized to send the Myntkaup information. Examples of entities that may send Myntkaup such information about individuals are the National Register of Iceland, the Tax Office, police authorities and other authorities.

Myntkaup reserves the right to work with statistical information collected as a result of using the service, for ongoing product development and/or to improve the functionality of the service.

2. How we use the information

Myntkaup uses the information collected to provide users with its services, to enable users to access and use Myntkaup properly, for example to buy cryptocurrencies through Myntkaup's system.

Myntkaup uses information collected through cookies to improve the interface and general quality of its services. For this purpose, Myntkaup uses various third-party services, such as Google Analytics.

3. How long the information is kept

Myntkaup stores personal data for the time necessary in accordance with the purpose of each case unless a longer time is required according to applicable law. A review of the storage of personal information is carried out once a year. If it turns out, during a review of the storage of personal information, that Myntkaup does not need to store certain personal information of individuals due to processing or legal obligation, Myntkaup will stop processing and storing the personal information immediately.

4. Who has access to the information

Myntkaup takes personal data protection very seriously and will never sell your personal data to third parties. We share personal information only with third parties for the purpose of providing the services of Myntkaup. To the extent necessary to fulfill our contractual obligations to you, Myntkaup employees have access to personal information. In addition, Myntkaup's service providers, who process personal data on our behalf, have access to certain personal data. The above-mentioned third parties are mainly companies that provide IT services. In addition, Myntkaup is, depending on the circumstances, obliged to provide access to personal information to public bodies based on applicable law, for example tax authorities, regulators, police authorities, and such.

5. How do we ensure the security of personal information

Myntkaup places great emphasis on security when processing personal information. Myntkaup contributes to active security awareness among employees, service partners and customers. Confidentiality rests on all employees of Myntkaup regarding any kind of personal information.

Our measures to ensure security include:

implementation of technical and organizational measures intended to ensure ongoing confidentiality, uptime, operational security and load tolerance of processing systems and service
control of individuals' access to our office and security
controlling the access of employees and others to systems that contain data personal information
to ensure that our service providers who have access to personal information users, have taken appropriate protective measures to ensure the safety of personal information
encryption of user’s personal information

In the event of a security breach in the handling of personal data where it is confirmed or suspected that personal data has fallen into the hands of unauthorized parties, the Personal Protection Agency and, if applicable, the persons concerned, are notified of the security breach.

6. Third Party Services

We may provide our partners with access to your personal information and other information about you to increase the quality and efficiency of our services. We share information about your use of the Myntkaup system with third parties who provide us with services in connection with promotional and marketing services. If we transfer your personal information to a third party, we always do so based on an adequate contract and legal authorization with the relevant party in order to be able to monitor their handling of your personal information.

We use the following third-party services:

Amazon Web Services (AWS): This provider hosts services and databases for Myntkaup. Amazon complies with the requirements of the Privacy Act.

MailChimp: Mailchimp is a tool that allows us to send you newsletters regarding our services. Mailchimp complies with the requirements of the Privacy Act.

Mailgun: This service provider allows us to send you important emails in connection with providing our services. This service is used to complete a customer's registration at Myntkaup by verifying emails, sending a request for a new password, accounts, payments etc. Mailgun meets the requirements of the Privacy Act.

Google Analytics: This service provider allows us to analyze the behavior of those who visit our website and our customers in Myntkaup's system. Google Analytics meets the requirements of the Privacy Act.

Google Ads: This service allows us to display text ads and web banners in Google's search and display system based on user activity on our website. Google Ads meets the requirements of the Privacy Act.

Facebook Analytics: In a similar way to Google Analytics, this service provider enables us to analyze the behavior of those who enter our website and of our customers in the Myntkaup’s system. More information about Facebook Analytics can be found on the Facebook Analytics information page.

Facebook Pixel: This service allows us to display ads on Facebook based on user activity on our website. More information about Pixel can be found on the Pixel information page.

Facebook Ads: This service enables us to display advertisements on the social network Facebook and in the applications of Facebook's partners (e.g. Messenger or Instagram). More information about how Facebook Ads works can be found on the Facebook Ads information page.

7. Your rights

You have the right to request access to your personal data and to have it corrected, deleted or limited in its processing.

You also have the right to object to the processing of your data and to request that your data will be transferred. You also have the right to submit a complaint to Persónuvernd, see further below.

You have the following rights in relation to the processing of your personal data:

The right to access personal information
The right to rectification
The right to have data deleted ("the right to be forgotten")
The right to restrict processing
The right to object to processing
The right to lodge a complaint about the processing of personal data
The right to access means that you can at any time ask us to confirm whether your personal data is being processed. If so, you have the right to access all relevant information and the right to information about the purpose for which, to what extent and to whom it is made available, the duration time of the process and whether you have the right to have it corrected or deleted. You also have the right to know where we got the personal information.
The right to rectification means that you can at any time ask us to correct or add to your personal data if it is incorrect or incomplete.
The right to have data deleted means that we must delete your personal information if it is no longer necessary to store it for the purpose for which it was obtained or processed, the processing of the information is unlawful, the law requires it to be deleted, you have withdrawn your consent for our processing of personal data and the law therefore does not prevent it from being deleted.
The right to restrict processing of data means that until a conclusion is reached in a matter of dispute or a complaint related to the processing of your personal data, we must restrict its processing.
The right to object means that you are allowed to object to the processing of your personal data that we process for purposes related to our legitimate interests, for direct marketing. If you object to processing for direct marketing, your personal data will no longer be processed for that purpose.

You can exercise all your rights by contacting us at myntkaup@myntkaup.is.

8. Communication with Myntkaup and Personal Protection

Myntkaup ehf., Borgartúni 27, 105 Reykjavík, id. 520717-0800 is the responsible party or the processor of users' personal information according to the Privacy Act. Myntkaup's Compliance Officer supervises compliance with applicable laws and regulations on personal protection in Myntkaup's activities. Inquiries, comments and suggestions regarding personal information and privacy protection can be directed to the email address myntkaup@myntkaup.is or by sending a letter to Myntkaup's address. In the event of a dispute regarding the handling of personal data, a complaint can be sent to Persónuvernd by sending an email to the email address: postur@personuvernd.is or by sending a letter according to the following information:

Persónuvernd

Rauðarárstígur 10

105 Reykjavík

Iceland

9. Changes and updates

Myntkaup may change or add to this privacy policy at any time and such changes will take effect immediately. Changes to the policy take effect upon posting updated policy on the Myntkaup’s website, myntkaup.is.