Terms of use

§ 1 Scope and provider

These terms apply to the use of the Nexxus Karat app and the website nexxuskarat.com. The provider is Phillip Kracht, Lübecker Str. 162, 19059 Schwerin, Germany, reachable at play@nexxus.group.

You do not buy from us. The app is free. The App Store and Google Play sell Karat Plus in their own name. Your purchase contract is therefore with Apple or Google and their terms govern it. These terms govern how you may use Karat and what Karat does.

If you download Karat from the App Store, Apple’s standard licence agreement for apps (EULA) applies as well.

Apple’s standard licence agreement (EULA)

§ 2 What Karat does

Karat shows the world market price for gold and silver. For the countries Karat covers, it also shows the price this turns into in the country, with tax, duty and the usual dealer premium. It adds a world comparison, history, a calculator, a holdings overview and a signal that places the current price arithmetically.

You can use Karat free of charge. Some features are paid and are called Karat Plus.

No account is needed. Your holdings, alerts and settings are kept on your device. Delete the app and they are deleted there. You can take them with you beforehand using “Take my data with me” in the settings. If you allow notifications with Karat Plus, our server receives the details it needs to send them. Which details these are and when it deletes them is set out in the privacy policy.

§ 3 No investment advice

Karat is an information service. It gives no investment advice, no investment recommendation and no financial analysis within the meaning of German securities law.

The signal is a purely arithmetic placement of the current price: where it sits within its range over the past 52 weeks, how far it is from the average of the last 200 trading days and how one-sided its recent moves were (14-day RSI). Karat names the numbers behind it. The signal says nothing about how the price will develop. You make buying and selling decisions yourself, at your own risk.

§ 4 Prices, rates and tax figures

Our server fetches prices and exchange rates from a market data service, including the history since 2012. Older exchange rates for the history come from the European Central Bank. Where earlier rates for a currency are missing, Karat uses a fixed or approximated rate in the history. We research tax and duty rates per country and check them every quarter. The date of the last check is shown in the app; figures not yet checked are marked “unverified”.

Karat shows the dealer premium as the usual range per country and calculates with its midpoint. For a city in India, Karat shows the local market price with tax instead. What the calculator gives as the usual buying price is a guide value too. We take care that the figures are right but owe no accuracy, completeness or timeliness. Prices may be delayed. What a dealer actually charges you can differ. Before buying or selling, rely on what your dealer tells you.

§ 5 Karat Plus

We offer a monthly subscription, a yearly subscription and a one-time purchase. Which features are included, what the price is in your currency and whether a free trial applies is shown in the app before you buy.

• Renewal: subscriptions renew automatically for the same period unless you cancel at least 24 hours before the end.
• Cancellation: you cancel in the settings of your App Store or Google Play account.
• Trial: an unused trial period expires as soon as you buy a subscription.
• One-time purchase: the one-time purchase applies without a time limit to the platform you bought it on, for as long as we offer the app there. We do not promise a minimum period. A subscription running alongside it does not end by itself. Cancel that in the store.
• Restoring: our server does not know about your purchase. It belongs to your store account and the app keeps a note of it on your device. After reinstalling or changing device, bring it back with “Restore purchase”.
• Notifications: signals, big daily moves and the daily summary arrive as notifications as far as your device and your settings allow. A notification may fail to appear or arrive late.

§ 6 Withdrawal and refunds

Because the purchase runs through the App Store or Google Play, your right of withdrawal and refund follows their terms. You request refunds from the store. On the App Store, Apple decides. On Google Play you can also contact us at play@nexxus.group.

Consumer rights that are mandatory under the law of your country remain unaffected.

§ 7 What you may do with the app

You receive the simple, non-transferable right to use the app on your devices for your own purposes. You may not

• rent out the app, resell it or make it available to third parties,
• reverse-engineer it, modify it or circumvent protective measures,
• query our servers automatically, harvest the data systematically or redistribute it.

§ 8 Who may use the app

Anyone may use the app. If you are a minor, you need the consent of a parent or guardian to make a purchase; this applies even when the store technically permits the purchase.

The age rating in the store assesses the content of the app. It says nothing about who can enter into a contract. That follows the law of your country.

§ 9 Availability and changes

We aim for continuous operation but owe no particular availability. Maintenance, faults at our suppliers or force majeure can cause interruptions.

We may develop the app further, change features or discontinue them. If a paid feature falls away permanently, you can cancel your subscription; for the unused period, turn to the store.

§ 10 Liability

We are liable without limit for intent and gross negligence, likewise for injury to life, body or health and under the German Product Liability Act.

For simple negligence we are liable only where we breach a duty you may rely on and which makes the contract possible in the first place. In that case liability is limited to the foreseeable damage typical for this kind of contract.

We are not liable for decisions you make based on the prices, signals or notifications shown. Karat makes no statement about future prices.

§ 11 Data protection

How Karat handles data is set out in the privacy policy on this website. In short: no account, no tracking, no advertising, servers in Germany. For notifications our server stores a push token and the settings it needs to send them. The app checks for updates with Expo in the USA, which receives your IP address and an identifier of the installation. Retention periods and details are in the privacy policy.

§ 12 Changes to these terms

We may change these terms where there is a proper reason, for example a change in the law, new features or a new sales channel. We tell you about material changes in the app before they take effect. If you do not object within six weeks of that notice, the new version applies; the notice points this out. Send your objection to play@nexxus.group.

§ 13 Governing law and jurisdiction

German law applies. If you are a consumer, the mandatory consumer protection rules of your country of residence remain unaffected and you may sue us at your place of residence.

We do not take part in dispute resolution proceedings before a consumer arbitration board.

§ 14 Language versions

The German version is authoritative. Translations serve comprehension. In case of discrepancies, the German wording applies.