Anchor Wallet Terms of Use

Before using the services User shall carefully read these Terms and Conditions of Use of Anchor’s Wallet ("Terms", “Agreement”) . Moreover, these Terms are written in Conjunction with the Terms of Use that can be found on TheAnchor.io, the website operated by Anchor, AG (“Anchor,” “Us,” “Our”) and all users have to comply to both documents. Should there be any conflicting or contradicting information, the Terms of Use found on TheAnchor.io shall be considered valid. 

These Terms apply to all, users, visitors and anyone ("You", "User", “visitor”) who accesses or uses the Services.

1. General Representations and Warrants

1.1.

By using the services of  You warrant and represent that you:

  • Are at least 18 years old or of legal age as it is defined in your jurisdiction;
  • Have the necessary knowledge, understanding and experience of the work principles of our Wallet,
  • Fully understand the risks that come with the use of the wallet. And that you assume those risks with your own personal details (including e-mail) and for your own benefit. 
  • You do not act on behalf of a third party and you are not using the services to the interest of another person?
  • Have full power and authority to enter into this agreement and that you are not violating any laws or relevant legal relationship. 
  • That any assets that you transfer through the use of the wallet are not in contention, encumbered or under any legal relationship that would pose an obstacle to trading with other users. 
  • There are no applicable laws in your country that prohibit you from using the services. If there are, that you will cease or avoid using our Services. 
  • Have not previously been suspended or removed from our Services.
  • That you will not violate any contract, right of a third party or commit a tort by using or accessing our Website and using the services. 
  • That you take full responsibility for any actions and/or inactions of your own during your use of our Wallet.

1.2.

Without prejudice to the foregoing, you represent, agree and warrant, that YOU WILL NOT:

  • Use the Wallet to pay for, support or otherwise engage in:
    • illegal gambling activities; 
    • money-laundering; 
    • fraud; 
    • terrorist activities
    • or any other illegal activities;
  • Use an account belonging to other users without proper, voluntary authorization.
  • Provide false, inaccurate, or misleading information;
  • Inhibit, disrupt or negatively effect in any way, shape or form, any of the other users through your own use of the wallet. 
  • Use the wallet in a manner that could cause issues,  damage, disable, or in any way impair the functioning of our Wallet or other Services. 
  • Extract any data or access the wallet through the use of crawlers, robots, spiders, scraper or any other known or unknown automated means or interface that was not provided by the Company. 
  • Develop any third-party applications that interact with our Wallet without our prior written consent; 
  • Encourage or induce any third party to engage in any of the activities prohibited under this Section;
  • In the case of fraudulent activities that cause damage to Anchor’s System, - Amounts used on performing fraudulent actions or amounts gained from such actions are subject to confiscation.

1.3.

Indemnification & Release

To the fullest extent permitted by law, you shall indemnify, defend, and hold harmless Anchor and our respective employees (past, future, and present), officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors, and assigns from and against all claims, actions, damagers, losses, demands, costs, and expenses that arise from or relating to the purchase of use of Anchor tokens, your responsibilities or obligations under these terms, your breach of these terms, or your violation of any rights of any other person or entity, and your violation of any laws.

You further you release Anchor, AG from any responsibility, liability, claims, demands, and/or damages of every kind and nature (including negligence), arising out of or relating to disputes between you and the acts or omissions of third parties. You expressly waive any rights you may have under 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

1.4.

Keeping your email address updated and correct in Anchor’s system is your responsibility. That way, Anchor can communicate with you via the use of email. If any emails sent to you by Anchor aren’t received due to the lack of the correct email address, provider blockage, or any other way you can be deemed unable to receive electronic communications, you understand and agree that you willingly forfeit any right to plead ignorance. 

2. Limitations of supported crypto assets

2.1.

Our Wallet allows Users to remit crypto assets to Anchor Account from external third-party service and vice versa except to certain limitations, which may be updated from time to time. 

For the purposes thereof the "Third-party service" shall mean any platform or network in which crypto assets belong to you or where you are the beneficial owner of crypto assets; and this platform is maintained by a third party outside of the Services; including, but not limited to third-party accounts.

2.2.

Anchor ETH addresses are ERC20 compliant, however, not all ERC20 tokens are supported in the app. Transactions of currently unlisted tokens to Anchor addresses may appear on the blockchain, however, they will not be available on your balance in the Service until they are added to our list.

3. Consents and authorizations

3.1.

In order to protect your crypto assets from unauthorized access, use, or spending we use a variety of physical and technical measures designed to protect our systems and your crypto assets, which include, but are not limited to a diversification of crypto assets in different allocations whether on a segregate record (account, wallet) or not. To be more definite we store crypto assets in hot wallets and cold storages.

By remitting your crypto assets to Anchor Account you entrust and entitle Us to ultimately take decisions on the safety and security of your crypto assets.

3.2.

You agree and consent to receive electronically via your verification e-mail all Communications, that Anchor may be willing to communicate to you in connection with your Anchor Account and/or use of the Anchor Services. For the purposes hereof “Communications” shall mean all and any communication, agreement, document, receipt, notice and disclosure, which may be from time to time addressed to User by Anchor. You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to support. If this is a case you waive your right to plead ignorance. If you decline or withdraw consent to receive electronic Communications, Anchor may suspend or terminate your use of the Wallet.

3.3.

When you request Us to Deposit/Withdraw crypto assets into or out from your Anchor Account, you authorize Anchor to execute such Transaction via the Wallet.

3.4.

By accepting these Terms you also agree to our Privacy Policy. 

3.5.

By accepting these Terms you also agree to our End-User License Agreement accessible at EULA.

4. Anchor’s fees

4.1.

You agree to pay any of the fees for Exchanges and Withdrawals you complete via the use of this Wallet ("Fees") as defined by the Company. You understand that we may change the fees on occasion. Any such changes are effective as of the effective date.

4.2.

The Company or your payment processor have your authorization to deduct from your Anchor account the assets that are required to cover the applicable fees related to Withdrawals or Exchanges via the Wallet. 

4.3.

Rewards. We reserve the right to provide different types of rewards to Users at our discretion and without prior notice.

5. User account and verifications

5.1.

In order to use our Services the User is obliged to create an account with Anchor to use our Wallet with its full functionality.The process of creation of the Anchor Account requires a valid e-mail. 

5.2.

When creating a Anchor account, the Wallet generates and stores a private and public cryptographic key pair that you can use to make transactions with crypto assets. The public key can be shared to complete transactions. The private key uniquely matches the wallet address and is only used by the Wallet to authorize transactions to and from the Wallet. As Wallet is a hosted wallet, it’s not feasible to provide the private keys to individual wallet addresses.

5.3.

The User is obliged to create a strong password that is not used for any other websites, online or off-line services and maintain the security of his Anchor Account by protecting the password and restricting access to the Anchor Account.

5.4.

In case Anchor detects suspicious activity on Anchor account, Anchor conducts AML/KYC (Anti-Money Laundering/Know Your Client) procedure for the user. We might ask to provide any and all information required to verify the identity of the user. This includes, without limitation, an ID, photo, bank statements, screenshots showing the source of all your incoming transactions etc. The User has to go through the AML/KYC procedures, and provide truthful, accurate, and complete information about himself as well as maintain and update his Anchor Account information in case of any changes.

5.5.

Anchor reserves the right to limit the scope of services or outright refuse them if the user is not verified, has failed to set up the necessary security level or has failed to show the source of funds/prove the ownership of funds. We reserve the right to limit the scope of our Services at our sole discretion and without prior notification.

5.6.

In case of any user breaches these Terms, any other Terms related to Anchor’s services or any event with similar effect happens (as We may deem necessary), including without limitation:

  • Force Majeure Events; 
  • Maintenance; 
  • Lack of services from your third-party provider
  • Account cancellation request; 
  • Severe market disruption; 
  • Failure to conform to our requirements; 
  • Lack of proper verification pending litigation, 
  • Investigation, or government proceeding related to You or your Anchor account; 
  • Heightened risk of legal or regulatory non-compliance associated with your account activity 

The company reserves the rights to, in its sole discretion:

  • Suspend the access to the entirety or a portion of our services
  • Prevent users from completing any actuals through the use of our wallet
  • Terminate the access to the services
  • Delete or deactivate user accounts

In Anchor’s sole discretion and without assuming any liability to the users. These actions can be taken with or without notice. 

5.8.

In the event of termination, Anchor will return any crypto assets stored in your Anchor Account and not owed to Anchor, unless Anchor believes you have committed fraud, negligence or other misconduct.

6. Transactions

6.1.

Anchor does not perform and support margin trading.

6.2.

Anchor does not perform and support the cross-chain transactions, were the one crypto asset is deposited to another coin’s address on another network though they may have technological similarities of any kind (e.g. BTC remitted to BCH address, LTC to BTC, USDT to BTC and vice versa). While Anchor will endeavor to recover the cross-chain transaction, it gives no warranty on the successful recovery or any terms related thereto.

6.3.

Crypto assets remitted to ETH/ETC and other smart addresses cannot be retrieved, and thus are not refundable.

6.4.

There is a minimum exchangeable Transaction for each cryptocurrency pair. The minimum amount is defined by the exchange service. IF YOUR TRANSACTION IS LESS THAN A REQUIRED MINIMUM, YOUR WALLET WILL NOT BE REFUNDED.

6.5.

Transactions failed due to any technical issue, extreme network conditions or any other cause on the third party service’s side will not be automatically rolled back to your originating address by technical and security reasons. In such cases, you are required to contact Anchor to initiate a refund request.

6.6.

Once your Transaction request has been executed, you may not change, withdraw or cancel your authorization for Anchor to complete such Transaction.

6.7.

If you have an insufficient amount of crypto assets in your Anchor Account to complete a Transaction via the Wallet, you will be prompted with the “Insufficient Balance” message and the transaction will not occur at all. .

6.8.

Any user-initiated transactions are under reasonable control of our users. However, the exchange from DOCT into ANCT tokens during the expansion phase (As fully detailed in Anchor’s Whitepaper) will be triggered automatically and carried out by the system itself based on the preexisting criteria that can be found in the aforementioned Whitepaper. 

7. Special condition

7.1.

We may, at any time, in our sole discretion and with no liability to you:

  • refuse to perform any Transaction requested via the Wallet, 
  • impose limits on the Transactions amount permitted via the Wallet or 
  • impose any other conditions or restrictions upon your use of the Wallet without prior notice.
  • with or without prior notice modify or discontinue, temporarily or permanently, any portion of our Services.

7.2.

The company will offer assistance in case of missing Transactions to attempt to return the missing assets. However, in certain cases we might not able to control or affect the performance of such return.

7.3.

Anchor is not responsible for any third-party services’ fees that you might be charged if you decide to operate through third-party companies. You are solely responsible for your use of the third-party service, and you agree to comply with all terms and conditions applicable to any third-party service as well as these Terms of Use and the Terms of Use of Anchor. .

7.4.

It is the user’s responsibility to ascertain whether any taxes apply to the Transactions you perform through the Anchor Services, and to take action in accordance to the laws and regulations of the client’s country of residence. 

You agree that Anchor does not act as a tax agent for you and is not responsible for ascertaining whether or not any taxes apply to your actions in scope of the Anchor Wallet services.

7.5.

The Company will own exclusive rights, including any and all intellectual property rights, to any suggestions, ideas, complaints, or other information or materials regarding Anchor or our Services that you provide, (“Feedback”). The company is entitled to the use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You waive any rights you may have to the Feedback (including inter alia any copyrights).

7.6.

While using our Wallet, you may view the content provided by third parties, including without limitation links to web pages of such parties, which may be represented on the Wallet (“Third-Party Content”). We do not control, endorse or adopt (unless otherwise expressly stated by Us) any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. Any use of third-party services or communication with third-party companies is performed at your own risk and with no liability from the Company. 

7.7.

The users are liable for due diligence and care during communication with people claiming to be Anchor representatives.

7.8.

If Anchor has crypto assets in an account in your name and has no recorded activity for several years, Anchor will try to locate you at the address(es) shown in our records. If we are then unable to contact you, applicable laws may require Anchor to report these funds as unclaimed property to the appropriate jurisdiction. Anchor reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by law.

8. Indemnifications

8.1.

The Service developed by us is provided "as is". Anchor makes no warranties, expressed or implied, and hereby disclaims and negates all other warranties, including without limitation, implied warranties or conditions of merchantability, fitness for a particular purpose, or non-infringement of intellectual property or other violation of rights. Further, Anchor does not warrant or make any representations concerning the accuracy, likely results, or reliability of the use of the materials or otherwise relating to such materials or on any websites or apps linked to Anchor.

8.2.

We resume the right, in our sole discretion, to control any action or proceeding (at our expense) to which We are a participant and determine whether We wish to settle it.

8.3.

You are solely responsible for backing up and maintaining duplicate copies of any information you store or transfer through our services.

8.4.

Links to external websites or services from our Website in no way represent an endorsement from us of this external content. We are not responsible for content found on external websites.

8.5.

In some cases, the third-party service may reject your crypto assets to be processed, suspend the Transaction of your crypto assets, or be not able to support the Transaction, or may otherwise be unavailable.

8.6.

Subject to the terms and conditions of these Terms, We will use commercially reasonable efforts to record all Transactions on a spot basis as soon as practicable. However, the timing associated with Transactions of crypto assets depends inter alia upon the performance of third-parties services, and We make no guarantee that crypto assets Transactions will be made in any specific timeframe. 

8.7.

The exchange rates available via the Wallet and any information on our Website shall not be considered as an investment or financial pieces of advice or referred to as such and cannot be used as a basis of investment strategy, legal position in the court and nothing in the rates information can be ensured to contain no errors, mistakes, misrepresentations or failures etc. 

9. Miscellaneous

9.1.

These Terms of Use and any additional documents that include Terms, rules, policies or conditions of participation that the Company may post constitute the entire agreement with respect to the Service and supersede any prior agreements.  Any rights not expressly granted under this Agreement are reserved.

9.2.

The Company reserves the right to occasionally amend, alter, or modify these Terms of Use in its sole discretion. Any such changes will be announced by sending an e-mail to registered users, providing notices by the use of the  homepage of the Company’s Website and/or by simply posting the amended Terms of Use on the Anchor’s website.

9.3.

Any amendments or new versions of the Terms will be deemed effective immediately upon posting If you do not agree to any amended Terms, you must discontinue using our Services and contact us to terminate your account.

9.4.

Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver thereof.

9.5.

The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.

9.6.

You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from Anchor, including by operation of law or in connection with any change of control. Anchor may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.

9.7.

Any regulations that cover cryptocurrencies, trading, or financial services may differ from country to country. For that reason, any and all users of Anchor’s services have to accept their own liability in terms of remaining in compliance with relevant local laws and regulations in their respective jurisdictions. The company will not be held liable if the user accesses or uses the website in the jurisdiction that deems that usage illegal from any standpoint. 

9.8.

Users might have the opportunity to access the website and the services even if the laws of their countries consider the potential activities on the website illegal, make sure to have all of the relevant information about any local laws and regulations before beginning to use our services.  

9.9.

By using our website and registering an account with Anchor, you are declaring that you are sufficiently informed and that you have no legal prohibitions preventing you from using the Company’s Services in accordance with these Terms. You to understand that our Services are not to be used in jurisdictions where they are viewed as restricted. 

In those cases, the Company can freely refuse to provide its Services or cancel them if they have already been provided, to any clients in that area. This refusal or cancellation is to be carried out at the complete discretion of the Company, whether or not the Company states the cause.

9.10.

Anchor may be deemed a digital currency, security, commodity, or any other kind of

financial instrument and subject to securities laws of various jurisdictions. Anchor

has not been registered under the Securities Act, the securities laws of any state of

the United States or the securities laws of any other country, including the securities

laws of any jurisdiction in which a potential token holder is a resident.

NOTICE TO RESIDENTS OF THE UNITED STATES

THE SALE OF ANCHOR TOKENS HAS NOT BEEN REGISTERED UNDER THE U.S.

SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. TOKENS MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS

PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR AN

EXEMPTION THEREFROM.

By using our services, you agree and understand that you will take all precautions to make sure that purchasing or using Anchor is legal in your jurisdiction. Anchor will use KYC procedures to identify and recognize users from jurisdictions that do not allow or otherwise restrict the use of cryptocurrencies or Anchor as it is (for example, The United States of America), but, Anchor is not to be held liable if the procedures fail to recognize users from those jurisdictions.