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Keterion Terms of Use

Last Updated: September 02, 2023

Welcome to Keterion! Please carefully read and understand these Terms of Use ("Terms") before using our Service.

1. Definitions

1.1. "Service" (Our Service) — Keterion provides you with a convenient way to host, send and receive Digital Assets (such as Bitcoin, Ether and others) off-chain via our Services. The ability to use our Service will depend upon the country of which you are a resident and from which you access Keterion's Services.

1.2. "Digital Asset" (Asset) — any form of digital property, including virtual currencies or virtual commodities. These assets are digital representations of ownership, value, or rights that are created and operated using cryptographic protocols on computer networks, such as Bitcoin, Ethereum and others.

1.3. "Supported Digital Asset" (Supported Asset) — particular Digital Assets listed as available to be operated in your Keterion Wallet (as defined below). Services and Supported Assets may vary by jurisdiction. Keterion supports Bitcoin, Ether and other Digital Assets.

1.4. "Funds" — any Digital Asset balance on a Keterion Wallet.

1.5. "Keterion Account" — a user account accessible via the Services where Assets may be custodied by Keterion on behalf of a user.

1.6. "Keterion Wallet" — account for holding the entitlement of Supported Digital Assets. Users are provided with Keterion Wallets, each wallet represents the holding of entitlement of the corresponding Digital Asset. Balances on wallets are custodied by Keterion on behalf of a user.

1.7. "Asset Type" — a letter prefix in front of the Wallet's number denoting that title units of the Wallet correspond to a particular Asset.

1.8. "Depositing Address" — an address on a blockchain network that Keterion generates by users' request in order to deposit Suported Digital Asset into the system and credit the users' Keterion Wallet of the corresponding Asset Type.

1.9. "Internal transaction" — an operation of transfer of balance between Keterion Wallets of the same Asset Type. Internal transactions are completely off-chain.

1.10. "External transaction" — a blockchain transaction of transfer of Supported Digital Assets. External transactions are part of Deposit or Withdrawal transactions.

2. Acceptance of Terms

2.1.  By accessing or using our Service, you agree to comply with and be legally bound by these Terms. If you do not agree with these Terms, you are required to refrain from using our Service.

3. Service Limitations

3.1.  Keterion is not registered with the U.S. Securities and Exchange Commission, as well as any other regulators in other jurisdictions, and does not offer securities services in the United States or to U.S. persons. You acknowledge that Digital Assets are not subject to protections or insurance provided by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation. Same applies to any other regulators in other jurisdictions.

3.2.  Keterion does not provide Services to users located in the following jurisdictions:

  • Republic of Cuba
  • Democratic People's Republic of North Korea
  • South Sudan
  • Islamic Republic of Iran
  • Syrian Arab Republic
  • United States of America (including its territories: American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, and the U.S. Virgin Islands)
  • the Crimea Region of Ukraine and Sevastopol
  • Canada
  • United Kingdom

3.3. You hereby agree that we may install and utilize certain software, solutions and/or tools (for example, geo-blocking or geo-fencing solutions) that allow for identifying users from certain restricted jurisdictions, or those who have violated these Terms or the law, and restrict their access to and use of the Service. We may further restrict or suspend your access to and/or use of the Service or any of its components with immediate effect and without notification if we, acting at our sole discretion, determine that (i) you have violated or are likely to violate these Terms, the law, or applicable regulations, or (ii) you or your actions create possible legal exposure for us or Related Parties.

4. Changes to Terms

4.1. We may modify these Terms at any time. It is your responsibility to regularly review these Terms for updates. Your continued use of our Service after any changes indicate your acceptance of those changes.

5. Data Protection and Security

5.1. Personal Data. You acknowledge that we may process personal data in relation to you (if you are an individual), and personal data that you have provided or in the future provide to us in relation to your employees and other associated individuals, in connection with this Terms, or the Keterion Services. Accordingly, you represent and warrant that: (i) your disclosure to us of any personal data relating to individuals other than yourself was or will be made in accordance with all applicable data protection and data privacy laws, and such data are accurate, up to date and relevant when disclosed; (ii) before providing any such personal data to us, you have read and understood our Privacy Policy, and, in the case of personal data relating to an individual other than yourself, have (or will at the time of disclosure have) provided a copy of that Privacy Policy (as amended from time to time), to that individual; and (iii) if from time to time we provide you with a replacement version of the Privacy Policy, you will promptly read that notice and provide a copy to any individual whose personal data you have provided to us.

6. Privacy Policy

6.1. Your use of our Service is also governed by our Privacy Policy, which can be found at https://keterion.com/privacy. Please review the Privacy Policy to understand how we collect, use, and protect your information.

7. Keterion Account

7.1. To use certain features of our Service, you may be required to create an account. You are responsible for maintaining the confidentiality of your account information and agree to accept responsibility for all activities that occur under your account.

7.2. You must provide accurate, complete, and current information when creating your account. You agree to promptly update your account information as needed to keep it accurate and complete.

8. Keterion transactions and transfers

8.1 Deposit/Withdraw Authorization. When you request that we load Assets into your Keterion Wallet from a Depositing Address or request that we transfer Assets to your external blockchain address from your Keterion Wallet, you authorize Keterion to execute such transaction via the Services.

8.2. Withdrawals. Withdrawals are subject to processing times and Service fees. We also debit the blockchain fee from your Keterion Wallet balance in order to process the withdrawal transaction on the blockchain.

8.3. Fees. Keterion withholds certain fees when you withdraw Supported Digital Assets from your Keterion Wallet. A description of the way fees are calculated can be found on our Homepage. By using Keterion Services you agree that we withhold the fees from Keterion Wallet Balance upon withdrawal. While Keterion reserves the right to adjust its pricing and fees and any applicable waivers at any time, we may provide at least 30 days’ prior notice of certain changes to our pricing schedule, or terms, conditions and policies. We will also notify you of the final price of each transaction, inclusive of pricing and fees, when you authorize the transaction and in each receipt we issue to you. We also debit the blockchain fee from your Keterion Wallet balance to process the withdrawal transaction on the blockchain. We will calculate the estimated Service and blockchain fee at our discretion, and notify you of the estimated Service and blockchain fee at or before the time you authorize the withdrawal transaction. The actual amount of the Service fee and the blockchain fee will be available on the transaction receipt upon its completion.

8.4. Internal transactions. Users can use their Keterion Wallet balances to send it to other users' Keterion Wallets. Internal transactions are processed within our Service and are not blockchain transactions.

8.5. Supported Digital Assets. Keterion Wallets are intended solely for proper use of Supported Digital Assets as designated on the Keterion Site. Under no circumstances should you attempt to use Keterion Wallets to store, send, request, or receive any assets other than Supported Digital Assets. Keterion assumes no responsibility in connection with any attempt to use your Keterion Wallets with Digital Assets that we do not support. You acknowledge and agree that Keterion is not liable for any unsupported Digital Asset that is sent to a Depositing Address associated with your Keterion Wallet.

8.6. Keterion Wallet. As part of your Keterion Account, Keterion will provide users with Keterion Wallets, each of which is an account for holding the corresponding Supported Digital Asset.

8.7. Keterion Wallet Identifier. Keterion Wallets have a unique identifier composed of a letter sequence followed by a number sequence. The letter sequence defines the underlying Digital Asset that corresponds to the Wallet.

8.8. Keterion Wallet Balance. The balance on your Keterion Wallet designates the amount of the underlying Digital Asset that you can withdraw to a blockchain address that you specify. Please note that withdrawals are subject to Service fees and the blockchain fees.

8.9. Unauthorized and Incorrect Transactions. When a Wallet transaction occurs using your credentials, we will assume that you authorized such transaction, unless you notify us otherwise. If you believe you did not authorize a particular transaction or that a transaction was incorrectly carried out, you must contact us as soon as possible via our help page at https://keterion.com/contacts. It is important that you regularly check your Keterion Wallet and your transaction history to ensure you notify us as soon as possible of any unauthorized or incorrect transactions. Reporting an unauthorized transaction does not guarantee Keterion will be able to reverse the transaction or reimburse you for the transaction.

8.10. Reversals & Cancellations. You cannot cancel, reverse, or change any transaction marked as complete or pending. If your transfer is not successful, if your Keterion Wallet has insufficient funds, you authorize Keterion, in its sole discretion, to cancel the transaction. We reserve the right to refuse to process, or to cancel, correct, clawback, or reverse, any Internal or External Transaction in our sole discretion, even after funds have been debited from your Wallet(s), in response to a subpoena, court order, or other government order; or if we suspect the transaction may: involve money laundering, terrorist financing, fraud, or any other type of financial crime; be erroneous; or relate to a Prohibited Use or a Prohibited Business. In such instances, Keterion will reverse the transaction and we are under no obligation to reinstate a transaction with the blockchain fee (if applicable) or on the same terms as the canceled transaction.

8.11. Account Information. You will be able to see your Keterion Wallet balances using the Keterion Site. You can also see your transaction history using the Keterion Site, including (i) the amount (and currency) of each External and Internal Transaction; (ii) a reference to the identity of the sender and/or recipient (as appropriate); (iii) any fees charged; and (iv) the date of each transaction.

8.12. In General. Your Keterion Wallet enables you to send its balance to (and receive it from) other Keterion Wallets by giving instructions through the Keterion Site. We recommend users send a small amount of Wallet balance as a test before sending a significant amount of balance.

8.13. Pending Transactions. Depositing and Withdrawal transactions involve on-chain transactions. Once created, such transaction will be unconfirmed and remain in a pending state for a period of time sufficient to allow confirmation of the transaction by the blockchain network. While it is in a pending state, the Asset balance of this transaction remains unavailable to you for use on the Keterion Site.

8.14. Deposits (Inbound Digital Asset Transfers). When you or a third party sends Digital Assets to a Keterion Depositing Address from an external wallet, the person initiating the transaction is solely responsible for executing the transaction properly, which includes ensuring that the Digital Asset being sent is a Supported Digital Asset that conforms to the particular Keterion Wallet Id to which funds are directed. By initiating an Inbound Transfer, you attest that you are transacting in a Supported Digital Asset that conforms to the particular Keterion Wallet to which funds are directed. For example:

  • If you select a Keterion Wallet with Asset Type "Ethereum ETH" to receive funds, you attest that you are initiating a blockchain transaction on Ethereum with sending Ether alone to the designated Keterion Depositing Address, and not any other Digital Asset such as "Bitcoin BTC" or "Wrapped Ether WETH".
  • If you select a Keterion Wallet with Asset Type "Bitcoin BTC" to receive funds, you attest that you are initiating a blockchain transaction on the Bitcoin blockchain with sending Bitcoin alone to the designated Keterion Depositing Address, and not any other Digital Asset.

Keterion incurs no obligation whatsoever with regard to unsupported Digital Assets sent to a Keterion Depositing Address or with regard to Supported Digital Assets sent to an incompatible Keterion Depositing Address. If you send unsupported Digital Assets to a Keterion Depositing Address or Supported Digital Assets to an incompatible Keterion Depositing Address, then you will lose those Digital Assets. For some lost Digital Assets, Keterion may in its sole discretion offer you the option to attempt a recovery. We may charge fees to process the recovery attempt on your behalf. We will calculate all fees at our discretion, and notify you of the applicable fees at or before the time you authorize the recovery attempt. The actual amount recovered may differ from the estimated recovery amount. Keterion does not evaluate the authenticity, safety, or security of unsupported Digital Assets. You acknowledge and agree that Keterion is not liable for any loss incurred during the recovery attempt or subsequent use of the recovered Digital Asset.

Keterion may from time to time determine types of Digital Assets that will be supported or cease to be supported. You acknowledge and agree that you may be required to pay blockchain or miner’s fees in order for a Deposit (Inbound Transfer) transaction to be successful. Insufficient network fees may cause an Inbound Transfer to remain in a pending state on a decentralized network outside of Keterion’s control, and we are not responsible for delays or loss incurred as a result of an error in the initiation of the transaction and cannot reverse such transactions.

8.15. Withdrawals (Outbound Digital Asset Transfers). When you send Supported Digital Assets from your Keterion Wallet to a Withdrawal Address (“Outbound Transfers”), such transfers are executed at your instruction by Keterion. You should verify all transaction information prior to submitting instructions to us. Keterion shall bear no liability or responsibility in the event you enter an incorrect blockchain destination address, or if you send your Supported Digital Assets to an incompatible address. We do not guarantee the identity or value received by a recipient of a Withdrawal. Digital Asset Transfers cannot be reversed once they have been broadcast to the relevant blockchain network, although they may be in a pending state, and designated accordingly, while the transaction is processed by network operators. Keterion does not control the blockchain network and makes no guarantees that a Digital Asset Transfer will be confirmed by the network. We may cancel or refuse to process any pending Outbound Digital Asset Transfers as required by law or any court or other authority to which Keterion is subject in any jurisdiction. Additionally, we may require you to wait some amount of time after completion of a transaction before permitting you to use further Keterion Services and/or before permitting you to engage in transactions beyond certain volume limits.

9. General Obligations

9.1. Password Security; Contact Information.

You are responsible for creating a strong password and maintaining security and control of any and all electronic devices, IDs, passwords, hints, personal identification numbers (PINs), API keys or any other codes that you use to access the Keterion Services. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your Keterion Account(s) by third-parties and the loss or theft of any Funds held in your Keterion Wallets(s) and any associated accounts. You are responsible for keeping your email address and telephone number up to date in your Account Profile in order to receive any notices or alerts that we may send you. You should never allow remote access or share your computer and/or computer screen with someone else when you are logged on to your Keterion Account. Keterion will never under any circumstances ask you for your passwords or 2-factor authentication codes. We assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of Keterion. We further assume no responsibility for your failure to follow or act on any notices or alerts that we may send to you. In the event you believe your Keterion Account(s) information has been compromised, contact Keterion Support immediately at https://keterion.com/contacts.

9.2. Suspension, Termination, and Cancellation. Keterion may suspend, restrict, or terminate your access to any or all of the Keterion Services, and/or deactivate or cancel your Keterion Account(s), with immediate effect for any reason at its sole discretion and is under no obligation to disclose the details of its decision to take such action with you. You acknowledge that Keterion's decision to take certain actions, including limiting access to, suspending, or closing your account for any reason in our sole discretion, may be based on confidential criteria that are essential to Keterion's risk management and security protocols. You agree that Keterion is under no obligation to disclose the details of its risk management and security procedures to you.

You will be permitted to Withdraw Funds associated with your Keterion Wallet(s) ninety (90) days after Account deactivation or cancellation unless such transfer is otherwise prohibited (i) under applicable law, including but not limited to applicable sanctions programs; or (ii) by a facially valid subpoena or court order. You may cancel your Keterion Account(s) at any time by visiting the Settings area after you sign in to your Keterion Account. You will not be charged for canceling your Keterion Account(s). You authorize us to cancel or suspend any pending transactions at the time of cancellation.

Keterion may discontinue or change any product, service, or feature, in its sole discretion, at any time. You agree that we may transfer you to a product or service that is reasonably similar to the discontinued or changed product or service, to the extent such product or service exists. We will provide you with prior notice of material changes, discontinuation, or the transfer related to a product, service, or feature, to the extent required or applicable.

10. Prohibited Conduct

10.1. You agree not to:

  • Use our Service for any illegal or unauthorized purpose.
  • Attempt to gain unauthorized access to our Service or other users' accounts.
  • Violate these Terms or any applicable laws or regulations.

11. Risks

11.1. Cryptocurrency on-chain transactions involve risks, including but not limited to loss of funds. You acknowledge and assume these risks when using our Service.

12. Intellectual Property

12.1. All content and materials available on our Service, including but not limited to text, graphics, logos, images, and software, are the property of Keterion and/or applicable rights holders and are protected by copyright, trademark, and other intellectual property laws.

13. General Provisions

13.1. Relationship of the Parties. Keterion is an independent contractor for all purposes. Nothing in these Terms is intended to or shall operate to create a partnership or joint venture between you and Keterion, or authorize you to act as agent of Keterion.

13.2. Force Majeure. We shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, pandemic, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions.

13.3. Non-Waiver of Rights. These Terms shall not be construed to waive rights that cannot be waived under applicable laws, including applicable cryptocurrency transmission laws in the jurisdiction where you are located. In addition, our failure to insist upon or enforce strict performance by you of any provision of this Terms or to exercise any right under these Terms will not be construed as a waiver or relinquishment to any extent of our right to assert or rely upon any such provision or right in that or any other instance.

14. Limitation of Liability

14.1. Keterion shall not be liable for any direct, indirect, incidental, special, consequential, or punitive damages, or any loss of funds or profits, whether incurred directly or indirectly, arising out of your use of our Service.

15. Governing Law

15.1. Keterion follows and applies the governing laws of the corresponsing jurisdiction from which every individual user is accessing the Keterion Site.

16. Contact Us

16.1. If you have feedback, or general questions, contact us via our Customer Support webpage at https://keterion.com/contacts.

16.2. Formal Complaint Process. If you have a complaint with Keterion, you agree to first contact Keterion through our support team to attempt to resolve any such dispute amicably.