PLEASE READ THESE TERMS OF SERVICE CAREFULLY. IF YOU DO NOT AGREE TO THESE TERMS OF SERVICE YOU SHALL NOT EITHER PURCHASE CRYPTOCURRENCY AND/OR USE OUR APPLICATION AND SERVICES.
These Terms shall enter into force as of the moment you first setup Cryptomat application. Should you disagree with any provision of these Terms you shall cease using the application immediately. If you are using Cryptomat on behalf of any entity, you are authorized to accept these Terms on such entity’s behalf and that such entity will be responsible for any damage arising out of a breach of these Terms by you or any other employee or agent of such entity (in such event references to “you” in these Terms refer to you and such entity, jointly). Any change to these Terms will be effective immediately upon such notice and apply to any ongoing or subsequent use of the application.
By accessing the Cryptomat application, you agree to be bound by these Terms. If you disagree with any part of these Terms, then you may not access this app and use its services.
1. Qualifications of User in Order to Use the Cryptomat application. You represent and warrant that you are at least eighteen (18) years of age, are legally entitled to use the internet and services like those provided by Cryptomat and have not had your right to use application previously suspended or revoked by us. You may neither use the application if you are located in, or a citizen or resident (tax or otherwise) or any state, country or another jurisdiction where use of Cryptomat application would be illegal or prohibited or otherwise violate any applicable laws and regulations. You represent and warrant that you are not a citizen or resident (tax or otherwise) of any such jurisdiction and that you will not use neither the application while located in any such jurisdiction (“Restricted Person”). You also may not use the application if you are located in, or a citizen or resident (tax or otherwise) of, any other jurisdiction where Cryptomat have determined, at its sole discretion, to prohibit use of the application. We may implement controls to restrict access to the application from any jurisdiction prohibited pursuant to these Terms. You agree to comply with these Terms even our methods to prevent use of the application are not effective or can be bypassed.
2. Illegal and Prohibited Use. You represent and warrant that you will not use the Cryptomat application for any criminal, illegal, or otherwise prohibited use, including (but not limited to) activities related to money-laundering, drug trafficking, human trafficking, weapon trafficking, terrorism, securities fraud, or tax evasion. You represent and warrant that you will not use our application to assist any other party in such illegal activity. You also agree not to transfer access to your Account (as defined below) or any other rights granted to you by these Terms.
3. Risk Factors. Purchase or/and use of cryptocurrencies may be associated with a high degree of risk. The list of risk factors described below is not exhaustive. In addition to the risks disclosed herein, there may exist other risks, which we at present cannot reasonably forecast. Hereby you represent and warrant that you’ve read, understood and agree with the following risk factors associated with cryptocurrencies:
• (a) the features, functions, characteristics, operation, use and other properties of any cryptocurrency and the software, networks, protocols, systems, and other technology (including, if applicable, any blockchain) (“underlying technology”) used to administer, create, issue, transfer, cancel, use or transact in any cryptocurrency may be complex, technical or difficult to understand or evaluate;
• (b) any cryptocurrency and its underlying technology may be vulnerable to attacks on the security, integrity or operation of the underlying technology, including attacks using computing power sufficient to overwhelm the normal operation of a blockchain or other underlying technology;
• (c) any cryptocurrency or underlying technology may change or otherwise cease to operate as expected due to a change made to the underlying technology, a change made using features or functions built into the underlying technology or a change resulting from an attack. These changes may include, without limitation, a “fork” or “rollback” of a cryptocurrency or its blockchain;
• (d) any cryptocurrency may be cancelled, lost or double spent, or otherwise lose all or most of their value, due to forks, rollbacks, attacks, or failure of the cryptocurrency to operate as intended;
• (e) any cryptocurrency may be lost if sent to the wrong address (for example but without limitation, if the address is improperly formatted, contains errors, or is intended to be used for a different type of cryptocurrency);
• (f) trading/purchasing of cryptocurrencies involves significant risks, once purchased, the value of cryptocurrency may significantly fluctuate due to various reasons on any given day. Due to said facts, you may unpredictable increase or lose value in any of your assets or funds at any given moment;
• (g) cryptocurrencies by their nature carry significant risks due to the uncertainly of regulations, cryptocurrencies in most are not backed by real assets, goods and/or commodities, and are new type of currency mostly backed by technologies such as the blockchain and surrounded community. Regulatory status of cryptocurrencies is unclear or not defined in many jurisdictions. It shall be your own obligation to be in compliance with applicable laws and regulations in your home jurisdiction;
• (h) in many cases transactions with cryptocurrencies in blockchain are immutable, once you send cryptocurrency you owned to any digital wallet it will be impossible to cancel such payment or claim for refund;
• (i) there also may be additional risks that we at present cannot reasonable forecast, you should carefully evaluate all possible risks and satisfied yourself to make a reasonable decision of using of cryptocurrencies.
In addition, you represent and warrant that you have: (a) the necessary technical expertise and ability to review and evaluate the security, integrity and operation of any cryptocurrency that you decide to acquire; and (b) the knowledge, experience, understanding, professional advice and information to make your own evaluation of the merits and risks of any cryptocurrency. You accept the risk of receiving, storing and transferring cryptocurrency through the application, and are responsible for conducting your own independent analysis of the risks specific to cryptocurrency you wish to purchase.
You hereby confirm and agree that we will have no responsibility or liability for, such risks. You hereby irrevocably waive, release and discharge all claims, whether known or unknown to you, against us, our team members, directors, officers, employees, agents and representatives related to any of the risks set forth herein.
4. Representations and Warranties. In connection with the use of application, setting up of an Account, purchase of supported cryptocurrency, you represent and warrant the following:
• (a) you are aware of these Terms and other mandatory documents and have acquired sufficient information about the cryptocurrencies to reach an informed and knowledgeable decision to acquire a cryptocurrency via our application;
• (b) you have read and understand these Terms and you acknowledge and agree that there are risks associated with cryptocurrencies;
• (c) you have sufficient understanding of cryptocurrencies, their storage mechanisms (such as digital wallets), and blockchain technology;
• (d) you have satisfied yourself as to the full observance of the laws of your jurisdiction in connection with the purchase of a cryptocurrency and any use application, including (i) the legal requirements within your jurisdiction for the purchase of a cryptocurrency, (ii) any foreign exchange restrictions applicable to such purchase, and (iii) any governmental or other consents that may need to be obtained;
• (e) your purchase, payment for, and receipt of the purchased cryptocurrency will not violate any applicable laws of your jurisdiction;
• (f) you shall comply with any applicable tax obligations in all relevant jurisdiction arising from the purchase of a cryptocurrency;
• (g) you are not Restricted Person and you are not acting on behalf of any unrevealed third party, including Restricted Person.
5. Registration of Account. In order to use our application, you may need to register an account to access some or all of our Services (“Account”). You represent and warrant that all information provided when creating such an Account is current, complete and accurate. You agree to promptly notify us of any changes to any information and/or documents that would cause the information provided upon your Account’s creation to no longer be current, complete or accurate. You also represent and warrant that you understand that at our request while registering the Account you may be asked to confirm your email address in a manner deemed suitable by us. If you refuse to provide such information or it will be determined that you may not use our application for any reason, you will be denied.
You agree that you exclusively will access and use your Account, and you may not transfer the right of its use or disclose any log-in credentials to a third party without our written consent. You agree to take full responsibility for any activity that occurs through the use of your Account and cannot transfer this obligation to any third party. You agree to notify us in the event that you discover or suspect any security breaches or vulnerabilities related to the application. Unless your Account is opened on behalf of an entity, you will use the application and your Account only for your own account and not on behalf of, or for the account of, any third party. If your Account is opened on behalf of an entity, you will use the application and your Account solely for the account of the specified Entity you represent.
While using of the Account you will promptly notify us if you discover or suspect any unauthorized access or use of your Account or any security breaches related to your Account and be responsible for all activities that occur under your Account and accept all risks of any authorized or unauthorized access to your Account.
6. Purchase of Cryptocurrency
6.1. Services. We provide you with the Services to exchange supported cryptocurrencies and after a transaction is completed – receive purchased cryptocurrencies on a digital wallet you owned. We currently is not providing any other services in connections with cryptocurrencies such as store and manage of cryptocurrencies, digital wallets services. We will update you when any additional services will be offered by Cryptomat.
6.2. Supported Cryptocurrencies. Application supports many cryptocurrencies. If you want to exchange any cryptocurrency other than we are using in Cryptomat, you cannot do it through our Services. We will update you when any additional cryptocurrencies are added to our Services.
6.3. Cryptocurrency Price and Our Commissions. The fees we charge for the Services applies in accordance with this section. Applicable fees and currently cryptocurrency price based on applicable exchange rates will be displayed in your Account prior to the purchase for any given purchase. In case of cryptocurrency exchange rate and/or price fluctuations, due to technical reasons including, but not limited to forks, delays in transactions, attacks on underlying technology, we hereby reserve the right to change the amount of fees to be charged. In addition, we reserve the right to waive and/or reduce any fee at any time, with or without notice.
6.4. Cryptocurrencies Transactions and Delays in Transactions. Cryptomat does not provide you with any guarantee regarding the value of cryptocurrencies or cryptocurrency transactions term. Any cryptocurrency blockchain consensus network is solely responsible for verifying and confirming proposed transactions that you submit via the application, and the we cannot and does not confirm, cancel, or reverse wallet-to-wallet transactions, other than confirmation of blockchain network’s completion of a transaction. Once a transaction request has been submitted to a blockchain network via the application, such blockchain network will automatically complete or reject the request and you will not be able to cancel or otherwise modify your transaction request. You acknowledge and agree that the application is not responsible for any errors or omissions that you make in connection with any transaction initiated via the Services as well as for any delays in Transactions. We have no control over any blockchain network and therefore cannot and does not ensure that any transaction request you submit via the Services will be completed. You acknowledge and agree that the transaction requests you submit via the application may not be completed, or may be substantially delayed, by a blockchain network. When you complete a transaction request via the application, you authorize us to submit your transaction request to a blockchain network.
7. Damages Caused by Vulnerabilities Inherent in the Internet or in Blockchain. You agree that we are not responsible whatsoever for any damages caused by the interception, loss or alteration to any information sent over the Internet or in blockchain and to any information used to get access to digital wallet(s) on such blockchain. These problems still may occur from time to time for reasons that are out of our control. If we believe our Services has been compromised or is under attack, we reserve the right to immediately stop all Services provided through the application.
8. Cryptomat Does Not Provide Legal, Financial or Other Professional Advice. In no way should our providing of Services and/or information, data or documents located at the application be considered legal, financial or any other kind of specialized or expert advice on which the User might detrimentally depend, causing liability against us. In using the application and Services, you represent and warrant that you have sought any legal, financial or otherwise specialized advice from an expert qualified to provide such counsel, or else you have the sufficient knowledge and sophistication to evaluate the risks and merits associated with our application. You represent and warrant that you understand that any recommendations or commentary made by us or other users should be considered generalized in nature, and you should use your own judgment or seek the advice of an expert before taking any action regardless of such statements. We give no assurance as to the accuracy or completeness of any such statement.
9. License. Cryptomat grant you a limited, nonexclusive, nontransferable license (“License”) to access and use our application and Services. This License is subject to these Terms. Any other use of the Services and application not expressly permitted by these Terms and Terms of Service is prohibited. All other rights are expressly reserved by Cryptomat and our licensors, including any content or functionality as presented on the application or Services. “Cryptomat”, all logos related to Services or displayed in the application are trademarks or registered marks of Cryptomat or its affiliates/counteragents or relevant third parties. You will not redistribute, claim ownership, license, deconstruct, reverse engineer, alter, incorporate into any other works or otherwise exploit any such content or functionality without prior express written consent of Cryptomat.
10. Termination. We may terminate or suspend your License without prior notice or liability for any reason whatsoever, including (but not limited to) if you breach the Terms. Nothing in these Terms or in any other communication or action by Cryptomat or our employees, agents or representatives should be taken as a waiver of any legal remedies available for any event causing termination. All provisions of the Terms which by their nature should survive termination shall survive termination, including (but not limited to) ownership provisions, disclaimers or limitations of obligations or liability, and indemnity.
11. Indemnification. You agree to indemnify, exculpate and hold Cryptomat, its representatives, affiliates, employees and service providers harmless from any claim or demand permissible by law arising out of or related to the use of the Services application, including but not limited to any breach by you of these Terms or violation of any law, rule, or rights of a third party. You agree to pay for any legal fees or other costs that incurred by Cryptomat or any other indemnified parties as a result of your actions or omissions.
12. Disclaimer of Warrants and Guarantees. Cryptomat does not guarantee any level of performance or the continued, uninterrupted availability of our Services and application. We do not guarantee the accuracy of any information provided. We hereby disclaim all warrants and guarantees that not expressly made in these Terms.
12.1. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE SPECIFIED IN WRITING BY Cryptomat, (A) THE APPLICATION AND SERVICES ARE SOLD ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OF ANY KIND, AND WE EXPRESSLY DISCLAIM ALL IMPLIED WARRANTIES AS TO THE APPLICATION AND SERVICES, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT, (II) WE DO NOT REPRESENT OR WARRANT THAT APPLICATION AND SERVIECS ARE RELIABLE, CURRENT OR ERROR-FREE, MEET YOUR REQUIREMENTS, OR THAT DEFECTS IN THE APPLICATION AND SERVICES WILL BE CORRECTED, AND (III) WE CANNOT AND DO NOT REPRESENT OR WARRANT THAT OUR APPLICATION AND SERVICES ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
12.2. SOME JURISDICTIONS DO NOT ALLOW CERTAIN WARRANTY DISCLAIMERS OR LIMITATIONS ON LIABILITY. ONLY DISCLAIMERS OR LIMITATIONS THAT ARE LAWFUL IN THE APPLICABLE JURISDICTION WILL APPLY TO YOU AND OUR LIABILITY WILL BE LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.
13. Liability and Limitation of Liability
13.1. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW: (I) IN NO EVENT WILL Cryptomat OR ANY OF THE PARTIES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES OF ANY KIND (INCLUDING, BUT NOT LIMITED TO, WHERE RELATED TO LOSS OF REVENUE, INCOME OR PROFITS, LOSS OF USE OR DATA, OR DAMAGES FOR BUSINESS INTERRUPTION) ARISING OUT OF OR IN ANY WAY RELATED TO THE USE OF THE APPLICATION AND SERVICES OR OTHERWISE RELATED TO THESE TERMS, REGARDLESS OF THE FORM OF ACTION, WHETHER BASED IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR ANY OTHER LEGAL OR EQUITABLE THEORY (EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE), AND (II) IN NO EVENT WILL THE AGGREGATE LIABILITY OF THE Cryptomat AND THE PARTIES (JOINTLY), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR OTHER THEORY, ARISING OUT OF OR RELATING TO THESE TERMS OR THE USE OF OR INABILITY TO USE OF THE APPLICATION OR SERVICES, EXCEED THE AMOUNT YOU PAY TO US FOR OUR SERVICES FEE.
13.2. SOME JURISDICTIONS DO NOT ALLOW CERTAIN WARRANTY DISCLAIMERS OR LIMITATIONS ON LIABILITY. ONLY DISCLAIMERS OR LIMITATIONS THAT ARE LAWFUL IN THE APPLICABLE JURISDICTION WILL APPLY TO YOU AND OUR LIABILITY WILL BE LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.
13.3. In no event will the aggregate liability of the Cryptomat, our licensors, agents, representatives, service providers, or subcontractors for any loss or damage that arises out of, or is connected with, any of the occurrences described above exceed the greater of $50 or the fees for Services that you paid to us for the service we provide through the Services during the month during which the incident occurred. The limitation of liability reflects the allocation of risk between the parties. The limitations specified in this section will survive and apply even if any limited remedy specified in these Terms is found to have failed of its essential purpose. The limitations of liability provided in these Terms inure to the benefit of us, our licensors, agents, representatives, service providers and subcontractors.
14. Release. To the fullest extent permitted by applicable law, you release the Cryptomat and the other Parties from responsibility, liability, claims, demands and/or damages (actual and consequential) of every kind and nature, known and unknown (including, but not limited to, claims of negligence), arising out of or related to disputes between you and other users of the Services and the acts or omissions of any third parties. You expressly waive any rights you may have under any applicable law as well as any other statute or common law principles that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.
17. No Class Arbitration, Class Action or Representative Actions. Any Dispute arising out of or related to these Terms is personal to you and Cryptomat and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which individual attempts to resolve a Dispute as a representative of another individual or group of individuals. Further, a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.
18. Survival and Severability. Any portion of these Terms that reasonably should survive the termination of your License or any other agreement is hereby agreed to do so. If any provision of these Terms is deemed illegal, invalid or otherwise invalid for any reason, then that provision will be severed, and the rest of these Terms will remain intact and enforceable.
20. Act of God. Cryptomat’s performance under these Terms shall be excused if the failure of such performance is caused by forces beyond its reasonable control. This includes (but is not limited to) acts of God, acts of any government, war or civil unrest, severe weather, fire, natural disasters, political embargos, terrorism, power or equipment failure, industrial or labor disputes or controversies, acts or omissions of any third party, or blockchain failures.
21. Change of Terms. Cryptomat may amend these Terms at any time and in its own discretion by posting an updated version of application and Services. The updated version becomes effective at the time of posting. It is your responsibility to check updates regularly.