Privacy Policy
Introduction
This Magent Privacy Policy (“Privacy Policy”) contains important information about how Avocado Labs Operations Limited and its affiliates (“Magent” or “we/us/our”) collect, use, handle, store, disclose, transfer, delete, or otherwise process your personal data in connection with the use of our products and services (collectively, “Services”), our website https://magent.finance (“Site”) and mobile application (“App”). By accessing or using the Services, you consent to this Privacy Policy. Please take the time to read and understand this Privacy Policy carefully. Depending on the jurisdiction in which you are a resident, the relevant data privacy laws and regulations of that jurisdiction may apply
Please note that we have the sole discretion to make changes to this Privacy Policy at any time. All such changes will be effective immediately upon posting it or made available on our Site or App. We urge you to check this Privacy Policy from time to time to keep yourself up-to-date with our privacy practices.
Purpose
This Privacy Policy aims to give you information on why and how we collect and process your personal data. It also informs you about your privacy rights and how the data protection principles set out in the applicable privacy legislation protect you. We are committed to protecting your privacy in accordance with applicable laws and regulations. We adhere to industry standards and will use our best endeavours to protect your personal data and other information provided by you in our possession or control from unauthorised and/or accidental processing, access, modification, disclosure, destruction, loss or other use by adopting reasonable security measures.
What Data We Collect
Depending on whether and how you use our Services, Site or App, we will collect, process, and store certain personally identifiable information that can be used to identify you via your use of the Services (“Personal Data”). Depending on whether and how you use our Services, we will collect, use, store and transfer different kinds of Personal Data about you which may include, without limitation:
Category of Personal Data
Examples of Personal Data
Identity Data
Full legal name
Identification document type and number
GenderDate and place of birth
Nationality
Biometric information (e.g. visual image of your face)
Contact Data
Email address
Telephone number
Residential address
Financial / Transaction Data
Wallet address(es)
Payment card details
Transaction history
Spending pattern
Technical / Usage Data
IP address
Operator and carrier data
Device type, category and model
Location data
Diagnostics data Information about how you use the Services
Profile Data
Username and password
Identification number as our user
Information generated by you when you communicate with us
Marketing and Communications Data
Your preferences in receiving marketing from us or third parties
Your communication preferences
Your feedback or survey responses
How We Use Your Data
We may and will only process your Personal Data, whether within or outside of your jurisdiction, for one or more of the following stated purposes and any other purposes permitted by you or as permitted by applicable laws and regulations
To register you as a new user and conduct identification and/or identity verification of you;
To comply with any applicable legal, regulatory and compliance requirements, including to manage risk and prevent or investigate any unlawful activity involving fraud, anti-money laundering, counter-terrorism, sanction screening and other background checks; and to ensure your account’s security;
To process and deliver our Services and App features to you, including to execute, manage and process any instructions or transactions you make;
To prevent abuse or misuse of our Services and to enforce or defend the rights of Magent, its affilitess and other users;
To manage our relationship with you, including asking you to leave a review, take a survey or keeping you informed of our business and product development;
To keep our records updated and to study how users use our Services;
To manage, process, collect, recover and transfer payments, fees and charges (owed to us or otherwise);
To gather market data for studying user behavior including their preference, interest and how they use our Services, determining our marketing campaigns and growing our business;
To administer and protect our business, our Site, App and social media channels including bans, troubleshooting, data analysis, testing, system maintenance, support, reporting, hosting of data;
To deliver relevant content and advertisements to you and measure or understand the effectiveness of the advertising we serve to you;
To use data analytics to improve our Site, App, Services, marketing, user relationships and experiences;
To make suggestions and recommendations to you about services that may be of interest to you;
To use the services of financial institutions, crime and fraud prevention companies, risk measuring companies, which will use the Personal Data they receive for their own purposes in their capacity of independent controllers;
To maintain and administer any software updates and/or other updates and support that may be required from time to time to ensure the smooth running of our Services;
To detect, prevent and address technical issues;
To contact you or communicate with you via text message, email and/or postal mail or otherwise;
Any other purposes which we notify you in writing of at the time of obtaining your consent.
Disclosure And Transfer Of Your Data
To the extent permissible under applicable laws and regulations of the relevant jurisdiction(s), we may share your Personal Data with the following entities (whether in or out of jurisdiction) for the purposes stated above:
Our third-party service providers who help us provide, operate, maintain, secure and improve the Services (including but not limited to any identity verification/screening or other blockchain analytics service providers, fraud or crime prevention agencies, credit card networks, banks or financial institutions, payment processors, merchants, and service providers that provide website hosting, data analysis, information technology, mailing, telecommunications, data processing, payments, credit references or other services) who have entered into appropriate confidentiality arrangements with us;
Any person, entity, or regulatory and law enforcement authority to whom we are under an obligation to make disclosure in accordance with any legal process, applicable laws and regulations, or regulatory, tax or accounting requirements or requests;
Our professional advisers, affiliates and employees to provide the Services, Site or App with you and to fulfil their duties;
Any person or entity that we engage or participate in for the purposes of marketing, advertising, or promoting our Services, such as social media platforms, online platforms, or third party websites;
Any person or entity that you authorize or consent to receive your Personal Data;
Any actual or proposed assignee or business transferee of Magent and/or its affiliates;
We may also share aggregated or anonymized Personal Data with the above persons or entities to help administer, operate, deliver and improve the Services.
The blockchain technology used in the provision of certain Services operates on a decentralized network, where transactions are recorded in an immutable and transparent manner. This characteristic ensures the integrity and security of the data stored on the blockchain. However, it also means that once data is added to the blockchain, it becomes virtually impossible to remove or delete it.
Your information, including your Personal Data, may be transferred to, and stored and processed at, a destination outside of your jurisdiction where the data protection laws may differ from those of your jurisdiction. By submitting your Personal Data, you consent to this transfer, storing or processing. Information you provide to us may also be stored on our and/or third-party cloud servers. We will take reasonable measures to ensure that your Personal Data is treated securely and in accordance herewith and no transfer of your Personal Data will take place to an organization or a country unless there are adequate controls in place including the security of your Personal Data and other personal information.
Data Security
While we strive to use commercially reasonable means to protect your Personal Data, you understand and acknowledge that there are inherent risks in any data being transmitted over the Internet, and no method of electronic storage is fully secure. We endeavor to protect ourselves and you from unauthorized access, alteration, disclosure, or destruction of data we collect and store. We take various organizational and technical measures to ensure data security, including physical protection and encryption of data, requiring two-factor authentication, periodic review of our Personal Data collection, storage, and processing practices and restricted access to your Personal Data on a legitimate business need-to-know basis.
Data Retention
We will retain your Personal Data for as long as is necessary for the purposes set out in this Privacy Policy. We may retain and use your Personal Data to the extent necessary to comply with our legal, regulatory, tax, accounting or other obligations, resolve disputes, and enforce our legal agreements and policies.
Marketing Communications
We may use your Personal Data to provide you with marketing communications, including information about products, services and events of Magent, our affiliates, and our third-party business partners (“Partners”). You will receive marketing communications from us if you have requested information from us and consented to receive marketing communications. We will use your Marketing and Communications Data for such activities. Our affiliates and Partners may also use such data to provide you with information about their products or services. You may opt out or withdraw consent of direct marketing at any time by contacting us at support@magent.finance, and we will stop sending you such communications and providing your Personal Data to our affiliates or Partners, and will notify our affiliates and Partners to stop using your Personal Data in direct marketing.
To ensure the quality of our App, Site or Services, you understand you will not be able to opt out of receiving communications or information related to our App, Site or Services, such as such as amendments to terms and conditions, updates and operational notifications.
Cookie Usage
We use cookies to collect information when you access our Site or Services. A cookie is a small data file that we transfer to your device or computer’s hard disk for record-keeping purposes in relation to your use of our Site to improve your Site experience. Allowing cookies does not give us or any other site access to the rest of your device or computer. We utilise session ID cookies to gather information in relation to your usage patterns on the Site to enable certain features of the Site, App or Services, to better understand how you interact with the Site, and to monitor aggregate usage by you and web traffic routing on the Site. We may also use the information collected to ensure compliance with our compliance program, and to ensure your account security has not been compromised by detecting irregular or suspicious account activities. Information collected by cookies is separate from and is not linked to your Personal Data.
Most browsers are setup to accept cookies automatically. Some cookies expire when you finalize the session and other cookies remain on your computer or other devices until deleted or expired. You have the option to decline the use of our cookies, but this may affect the functionality of the Services or your user experience.
Your Right
You have the right to: (a) request information about the nature of your Personal Data that is processed by us and how your Personal Data is processed; (b) request access to, rectification or deletion of your Personal Data (though we may not be able to comply with your deletion request for legal, compliance and regulatory reasons); (c) object to or request restriction of processing your Personal Data; and (d) withdraw consent or opt out of direct marketing. If you would like to make any such requests, please send us an email at support@magent.finance. In response to your requests, we will verify the requesting party’s identity to ensure that they are legally entitled to make such request. While we aim to respond to these requests free of charge, we reserve the right to charge you a reasonable administrative fee.
It is important that the Personal Data we hold about you is accurate, complete and up-to-date. Please keep us informed if your Personal Data has changed during your relationship with us.