Privacy policy

Terms of Use

Last update July 1, 2021 at 12:44 PM

Calypso shall provide services to its clients on the terms specified in this agreement.Please familiarize yourself with the terms below as they contain all significant aspects of relations between Calypso and its clients as well as describe possible risks of using the potential of our products.

Whereas

А. There are some RISKS related to any transactions with virtual currencies,cryptographic tokens and/or other digital assets. The following risks are possible:

Regulatory risks

There is no uniform approach to determination of legal status of virtual currencies, cryptographic tokens and/or other digital assets. Despite the current globalization level, countries do not have any uniform approach to their regulation. However, cryptocurrencies attract close attention of regulators in many countries, so in the near future countries will take steps on digital assets regulation. They can be subject to taxation, reporting, audit (or already are, depending on the state policy).

Currently, the value of such assets is not backed by central banks and they do not have any possibility of such backing; digital assets are an autonomous global system supported by users’ reliance on the technology so cryptographic asset operations are subject to significant risk.

This risk consists in the fact that at any time the cryptocurrency you selected may be beyond the scope of law or, vice versa, may be recognized in a particular state.Regulator’s influence on the legal status of a cryptocurrency may result both in increase and decrease of its value.

Volatility risks

Transactions with cryptocurrencies involve certain levels of risks related to their value. The retrospective value of your asset does not predict its future value. The price of virtual currencies, cryptographic tokens and/or other digital assets may go both upwards and downwards and may depend on economic, political, technological, social and psychological and other factors. Both well-known causes and causes that PMCalypso Terms of Use 2cannot be currently predicted may result in such movements. The value of cryptocurrencies may be impacted by several related factors or by just one.

There will always be a risk to incur losses due to transactions performed virtual currencies, cryptographic tokens and/or other digital assets.

Blockchain network risks

Blockchain networks are based on confirmation of a transaction record (entry into a distributed ledger) by other participants of the distributed network. Due to this, the system requires some time to record your rights to cryptographic tokens and/or other digital assets, so you may see the result not immediately.

Transactions related to virtual currencies, cryptographic tokens and/or other digital assets cannot be voluntarily cancelled; financial losses caused by errors, accidental transactions or fraudulent actions cannot be refunded.

You should note that any transaction performed may remain unconfirmed by blockchain participants or cancelled.

Calypso cannot influence blockchain networks in any manner and shall not be liable for operation of any blockchain network, for its vulnerability or unforeseen modifications, for possible attacks on protocols.

Technical risks

We admit that technical failures are possible in the course of use of services offered by Calypso. Poor internet connection, equipment failures, information distortions may be due to human mistakes or inadequacy of the equipment and processes.

We do not provide any guarantee that the equipment you use will enable secure, flawless, smooth and reliable receipt of the Calypso services.

You agree that we shall not be liable for any failures of connection, information delays, errors, distortions that may occur in your equipment when using the Calypso services.

Blockchain network risks

Blockchain networks are based on confirmation of a transaction record (entry into a distributed ledger) by other participants of the distributed network. Due to this, the system requires some time to record your rights to cryptographic tokens and/or other digital assets, so you may see the result not immediately.

Transactions related to virtual currencies, cryptographic tokens and/or other digital assets cannot be voluntarily cancelled; financial losses caused by errors, accidental transactions or fraudulent actions cannot be refunded.

You should note that any transaction performed may remain unconfirmed by blockchain participants or cancelled.

Calypso cannot influence blockchain networks in any manner and shall not be liable for operation of any blockchain network, for its vulnerability or unforeseen modifications, for possible attacks on protocols.

Disclaimer

Calypso does not provide any financial, legal, tax, accounting or other advice to users. You shall be independently liable for your actions including for decisions pertaining to the disposal of your financial resources when using the Calypso services. When making financial, legal, tax, accounting and other decisions, we recommend that you turn to relevant professional advisors.

No employee, partner, manager, owner of Calypso makes any representations or guarantees of success of your investment or is liable for any loss of money, assetsCalypso Terms of Use 3and other property resulting from the use of the services.

The risks described herein are not exhaustive. Taking into account that the crypto industry is a new economic and technical area, it is quite possible that in further use by you of the Calypso service and operations with tokens and/or other digital assets, new risks may emerge that cannot be currently foreseen and described.

B. By visiting the Calypso website and continuing the use of the Calypso service/downloading the software, you confirm that you are a person of lawful age, capable, not disqualified and can be independently liable for your decisions and actions;

C. You possess all required understanding and knowledge of blockchain transactions and, consequently, bear full responsibility for understanding of and compliance with any laws, rules and regulations established by your government to regulate digital assets and distributed ledger technologies applicable to you in relation to the use of all and any services;

D. Calypso software is provided to you for free under a personal, non-exclusive, free, nontransferable, nonsublicensable, revocable license for the purpose of access to and transfer of digital assets;

E. The Company shall preserve the right to modify the terms hereof at its own discretion at any moment. However, we shall notify you of the modifications via our services. If after the modifications are made, you perform any actions clearly and directly signifying your consent to the new terms (by clicking the “I Agree” button or ticking the box next to the modified terms, or continuing to access or use theCalypso services), these actions shall express your consent to the new terms and confirm your readiness to use the service’s potential and functionality on the new terms. We recommend regular review of this Agreement;

F. By receiving further access to the Calypso services and functions, you agree to comply with these terms of the Agreement and all provisions we published atCalypso.finance, including the Privacy Policy, the Cookie Policy. If you refuse to accept the terms, please stop using the Calypso service and all functions provided atCalypso.finance.

Now, therefore, you (hereinafter, the Client) and Calypso Pay Ltd. (hereinafter, theCompany) enter into the service agreement on the following terms:

Terms and definitions:

Company shall mean Calypso Pay Ltd., a company incorporated and operating under the laws of The Province of British Columbia, Canada, incorporation numberCalypso Terms of Use 4BC1269562.Client shall mean any individual registered in the Calypso system and using its services.

Service shall mean a software solution in the Internet network at Calypso.finance used to provide the services of the Company.

Account shall mean the Clients’ record created via the registration form atCalypso.finance. The record contains a package of data enabling the Client’s identification for provision of the Calypso service.

Wallet shall mean the software collecting information on digital asset transactions from different blockchains and enabling creation, generation and storage of digital assets, transaction requests and encrypted private keys.

Cryptocurrency shall mean any virtual currency, cryptographic token and/or other digital assets.

Transaction shall mean any operation of transfer of cash/cryptocurrency from oneWallet to another, a deal resulting in change of the balance of the Client’s Wallet.

1. Services

1.1 Calypso shall provide services in the field of circulation of virtual currency, cryptographic tokens and/or other digital assets enabling the Client to perform operation and different actions with cryptocurrency through the use of the Wallet.The following services are available for Calypso’s Clients:

  • Exchange of cryptocurrency to cash;
  • Exchange of cash to cryptocurrency;
  • Exchange of any kind of cryptocurrency to another kind;
  • Cryptocurrency storage;
  • Cryptocurrency transfer between Wallets.

1.2 The Company’s services do not apply to individuals who are residents of countries subject to financial sanctions introduced by the EU, in compliance with recommendations of FATF, and to US residents.

2. Account creation

2.1 To obtain access to Calypso services, the Client needs to register in the systemby creating an Account.

2.2 During the registration, the Client shall provide all requested information. Such information shall be fair, full and up-to-date. The Client’s information is protected by the Privacy Policy.

2.3 Only individuals who have attained the age of 18 may become Clients of theCalypso service and receive relevant services.

2.4 The Client shall create a reliable password that is not used at any other website or online service.

2.5 Upon the registration, the Client’s personal Account is created and the Client gains access to the Wallet.

2.6 To be able to use all functions of the Calypso service and in accordance with mandatory know-your-customer (KYC) procedures and anti money laundering (AML)procedures as well as other procedures specified in applicable laws, the Client must identify himself/herself. For that purpose, the Company may demand and the Client must provide documents that allow the identification of the Client. Particular data and/or documents to be provided will be specified by the Company in the notice on the need for identification procedure. The Company may demand that copies of documents provided be duly certified, including translated into the language specified by the Company. The Client shall bear all expenses on preparation of the requested documents. If the Customer fails to provide the requested information and/or documents within the time period established by the Company, the Company may suspend provision of all or any part of the services to the Client.

2.7 The Client shall bear all losses resulting from provision of any invalid data.

3. Fee

3.1 The Client shall pay the Company a fee for the services provided to theClient by the Company.

3.2 The fee amount shall be shown in the Account. Due to the circumstances that impact transactions, such as the transaction time interval, exchange rate difference, etc., the real fee amount may differ from the declared one.

3.3 The fee shall be paid automatically when the Client performs a transaction via the Wallet.

3.4 The Company may change the fee amount. In this case, the Company shall send the Client a notice by any means available. The Client must accept the new terms or stop any further use of the Calypso service.

3.5 The Client shall ensure that he/she has sufficient funds at the account to pay for the services of the Company.

3.6 The fee shall be paid in the currency of the transaction.

3.7 Any expenses (charges/fees/other payments) on transfer of the Client’s cashand/or cryptocurrency from the Wallet to any third party account specified by theClient shall be at the Client’s cost.

3.8 The Company shall not pay any interests on the balance of cash in theClient’s account.

4. Rights, obligations and liability of the client

4.1 The Client may use the services as long as he/she agrees to their terms. By continuing the use of the Calypso services, the Client confirms his/her consent to the terms established by the Company.

4.2 The Client may control the created Wallet via Internet connection by signing in to the Account using his/her username and password.

4.3 The Client shall use the Account and/or the Wallet personally. The Client shall not transfer or demonstrate to any third parties any information providing access to his/her Account and the Calypso services.

4.4 The Client shall not disclose passwords or any other information related to secure operation of his/her Account in the Calypso system to any third parties.

4.5 If the event of loss by the Client of the password to the Account and/or any other confidential information ensuring safe operations of the Client in the course of receipt of the Calypso services, the Client shall change such passwords or, if he/she cannot do it, notify the Company as soon as possible upon receipt of information of any such case.

4.6 The Client shall independently trace all and any changes in the Account and immediately notify the Company of any unusual, suspicious, unclear or nontypical changes in the Account and/or any unauthorized use of the Client’sAccount or password or of any other security violation.

4.7 If the Client ignores any facts specified in clauses 4.3-4.6 hereof, theCompany shall not be liable for any damage inflicted on the Client by any third parties.

4.8 The Client shall ensure that no cryptocurrencies or cash credited to theWallet result from illegal activities and that the Client will not use the services provided by the Company for illegal purposes, including the Client’s commitment not to perform any actions or operations for the purpose of money laundering.

4.9 The Client’s actions on exchange/purchase of cryptocurrency for cash (and vice versa) via the Wallet cannot be reversed or cancelled except for cases directly provided for under this Agreement.

4.10 The Client understands that in performance of any transaction, theCompany transfers the Client’s personal data to third parties directly related to the performance of such transaction.

4.11 The Client shall respect the technical potential of the service, the software, the graphics created by Calypso. For that reason, the Client shall not collect, distribute, copy, reproduce, modify, transfer, perform any other actions that may result in breach of copyright and intellectual property rights of the Company as well as its financial losses.

4.12 The Client shall independently assess his/her tax risks and obligations, including bear the load of paying the taxes on the income from possession and disposal of cryptocurrency in accordance with the laws of the country where he/she must pay such taxes and levies.

4.13 The Client shall keep his/her personal data up-to-date. In the event of any changes in the data relevant for the use of the Calypso services, the Client shall within 1 calendar day of such change notify the Company and update the relevant data in the Account.

4.14 The Client may conveniently familiarize himself/herself with the current version of the Agreement and the Privacy Policy, Cookie Policy.

5. Rights, obligations and liability of the company

5.1 The Company shall use all efforts to ensure most secure and seamless operation of the Calypso services and software.

5.2 For the purposes of prevention of money laundering and combat with terrorism, the Company may request any information and/or documents from theClient that disclose the Client’s identity and/or transaction performed by the Client and confirming the lawful source of the funds.

5.3 In the event of any doubts regarding the truthfulness of information provided by the Client or subject to any suspicious/illegal transactions, the Company may restrict the Client’s actions in the use of the Calypso service, including block any transactions performed, block funds and/or cryptocurrency, or completely deny the Client any services. The Company shall preserve the right to disclose information on such transactions and any related activities to government authorities to take relevant measures.

5.4 The Company may record and store information on any actions performed by the Client when using the Wallet. Such records may be transferred to relevant government authorities and/or third parties entitled to that by law.

5.5 If the Company suspends the Client’s Wallet, transaction, or otherwise limits functions of the Calypso service available to the Client, it shall inform the Client to that affect as soon as practicable. Cases where such notification is prohibited bylaw shall make an exclusion.

5.6 The Company shall enjoy the intellectual property rights to all Calypso service. All content of Calypso.finance, including without limitation: software, pictures, graphics, data, Calypso service functions algorithms, database, etc, is protected by copyright and other lawful means.

6. Warranty disclaimer

6.1 The Company does not give any financial, tax, accounting, investment or legal advice in respect of cryptocurrency transactions. The Client shall independently assess any possible consequences of his/her actions for his/her well-being based on personal goals, beliefs, knowledge and abilities. For that reason, all risks of transactions with digital assets, including the risk of financial loss, errors in the course of transactions, shall rest with the Client to the extent permitted by law.

6.2 The Company shall give no guaranties in respect of cryptocurrencies used by the Client, such as guarantees of ownership, financial attractiveness, stability, etc.

6.3 The Company does not guaranty uninterrupted access to the Calypso services and software due to the fact that operation of the Calypso services and software may be affected by many factors beyond the Company’s reasonable control. For that reason, the Company shall not be liable for any consequences resulting from interruptions of the service.

6.4 The Company gives no guaranties in respect of work of banks, payment systems and other third parties involved in transactions.

7. Amendment and termination of the agreement

7.1 The Company may unilaterally amend and/or modify the terms hereof with subsequent notice to the Client to that effect.

7.2 The Client may not unilaterally amend and/or modify the terms hereof.

7.3 If the Client does not agree to the amendments or modifications hereof, he/she should stop using the Calypso services.

7.4 The Client may request the Company to block the Account and/or the Wallet at any time.

7.5 The Company may without prior notice suspend or fully refuse the provision of its services to the Client subject to reasons established under this Agreement or the applicable legislation or without any reasons.

7.6 In the event of termination of the Agreement at the Company’s initiative or suspension of access to the Calypso services, the Company shall send a reasonable relevant notice to the Client.

7.7 The closure of the Client’s account does not mean that the Client’s data, including transaction history, will be deleted. Subject to the requirements of the applicable legislation, the Company shall store any required data for at least 5years.

7.8 The termination of this Agreement shall not release the Client from performance of obligations to the Company that have arisen and have not been fulfilled prior to such termination.

8. Notices

8.1 The Parties agree that e-mail is a permissible method of information exchange between the Parties.

The e-mail address specified by the Client at registration shall be used to keep the Client informed.

The Client should use the following address to inform the Company:legal@calypso.finance.

8.2 Communication sent by e-mail shall be deemed admissible evidence in resolution of any disputes between the Parties.

8.3 The Company may also use any other methods to inform the Client, such asSMS messages, PUSH-notifications, messages sent via the Client’s Account.

9. Disputes and disagreements

9.1 The Parties agree that e-mail is a permissible method of information exchange between the Parties.

9.2 The Client may lodge a claim in respect of the Company’s services by sending a notice via e-mail at any moment. The claim shall contain the reasons for the claim, the Client’s arguments as well as documents supporting the Client’s position.

9.3 The Company shall consider the Client’s position and notify the Client of its decision within 20 calendar days except for the cases where a different time for response to a claim is prescribed by law.

9.4 If the Client violates the terms hereof, the Company may use instruments of influence provided for under this Agreement and the applicable legislation

9.5 If the Parties fail to settle the dispute or disagreement through a complaint procedure, they may use other remedies to protect their lawful rights and interests.

10. Force majeure

10.1 Neither Party shall be responsible for any inaccuracy, error, delay or omission in transmission or delivery of information as well as for any losses or damages resulting from force majeure circumstances.

11. Final provisions

11.1 The Agreement shall take effect after the Client reads the terms of theAgreement, the Privacy Policy, the Cookie Policy, gives consent to comply with them electronically and registers in the Calypso system.

11.2 The Agreement shall be valid for an indefinite period of time.

11.3 The headings of sections and articles hereof are for convenience only and may not be used to interpret provisions hereof.

11.4 If any provision hereof becomes invalid, such invalidity shall not affect the lawfulness and effect of other provisions hereof.

11.5 Any references specified in the Agreement as well as supplements governing the provision of certain services shall be an integral part of theAgreement and apply to the Client from the date he/she starts to use the relevant service.