Terms and conditions for the provision of services and digital content
This agreement was written in English. To the extent that any translated version of this agreement conflicts with the English version, the English version prevails.
1. These terms
1.1. What these terms cover. These are the terms and conditions on which we supply products or services to you, whether these are services or any form of digital content for the purposes of using MKT tokens.
1.2. What these terms do not cover. These terms and conditions do not cover:
1.2.1. MKT tokens themselves or their use other than in connection with the Services and Digital Content; or
1.2.2. Your use of MarketCash’s website (including the services made available through it).
1.3. Why you should read them. Please read these terms carefully before you use our products, Services or Digital Content. These terms tell you who we are, how we will provide products, Services or Digital Content to you, how you and we may change or end the contract and other important information.
2. Information about MKT
2.1. What is MKT? MarketCash has created a cryptocurrency called “MKT”:
2.1.1. MKT is a type of cryptoasset, a cryptographically stored representation of value which uses distributed ledger technology and which can be transferred, stored or traded electronically.
2.1.2. More specifically, MKT is an exchange token: it is not issued or backed by any central authority and is intended to function as method of payment.
2.1.3. MKT tokens do not provide their holders with particular interests in any business, nor do they provide rights such as asset ownership, repayment of a specific sum of money or entitlement to a share in future profits.
2.1.4. Other than insofar as they can be used as a means of exchange, MKT tokens are not redeemable for access to any specific goods or services.
2.1.5. MKT tokens do not represent tangible or physical assets that exist outside of the Waves blockchain.
3. By using the services or digital content you accept these terms
3.1. By using the Services or Digital Content, you confirm that you accept these terms and that you agree to comply with them. If you do not agree to these terms, you must not use the Services or Digital Content.
3.2. You accept and acknowledge that where we make additional functionality available to you through the App (for example the purchase of third party goods, services or digital content) additional terms and/or charges shall also apply, including terms required by third party providers. It is a condition of your use of such functionality that you read and accept such third party terms and/or charges and you acknowledge that we have no liability to you in respect of such third party goods, services or digital content which are only made available to you through the App for convenience.
4. Anti money-laundering and terrorist financing
4.1. Pursuant to our obligations under global anti-money laundering and counter-terrorist financing legislation, we are required to undertake due diligence, source of funds and “know your client” checks on users of the Services and Digital Content. We may use third party providers to assist us with these due diligence checks.
4.2. We will employ various levels of due diligence as may be required by legislation in force from time to time and based on the jurisdiction in which you access the Services and Digital Content and on the value of MKT you propose to hold or transfer.
4.3 If you wish to access certain functionality within the Services, Digital Content, we may require additional disclosures of information from you. The information we request may include personal information, including, but not limited to, your name, postal address, e-mail address, telephone number, date of birth, country of origin, tax identification number, government issues identification number, and bank account information and in certain circumstances proof of source of funds.
4.4. You must comply with our due diligence requirements in order to continue using the Services and Digital Content. If you fail to do so we may withdraw or suspend your right to use the Services or Digital Content without further liability to you.
5. High risk countries
If it appears that you are accessing or attempting to access the Services and Digital Content from a country which is, from time to time, designated as a “high-risk third country” by the European Commission or as a “high risk and other monitored jurisdiction” by the Financial Action Task Force (FATF), we may temporarily or permanently withdraw your right to use the Services and Digital Content (or any part of them) without liability to you.
6. MKT and blockchain technology
6.1. MKT is a type of cryptoasset, more particularly described in clause 2.1 above.
6.2. The services we provide operate using distributed ledger technology, also known as ‘blockchain’.
6.3. Waves’s blockchain is a public ledger of transactions and when you transact with third parties using MKT, users of the Waves blockchain independently verify the validity of your transactions. In doing so the data relating to your transactions, including your public key, is shared with each user of the Waves blockchain.
6.4. We do not control the ongoing state of Waves’s blockchain as this is determined by the transactions made between users. Although we facilitate the processing of these transactions through the use of our Services and Digital Content, we are in no way a party to them.
6.5. As a company, we do not sell, send or receive MKT on behalf of users. Our services facilitate the sending and receiving of MKT between users. We are not responsible (and shall have no liability to you) for issues including (but not limited to) slow network speeds and technical errors within the operation of the Waves blockchain.
7. MKT transactions
7.1. Due to the nature of Waves blockchain, MKT transactions cannot be reversed or cancelled. We will not be responsible for any loss or damage suffered by you for transactions executed by you or any third party including (but not limited to):
7.1.1. sending MKT to the incorrect recipient;
7.1.2. sending a recipient the incorrect amount of MKT in respect of any transaction;
7.1.3. the time take to transmit or receive MKT (because the speed and operation of the network is outside of our control); or
7.1.4. any other error.
7.2. Where you avail yourself of additional functionality as set out in 3.2 above, for example the purchase of third party goods, services or digital content, you irrevocably instruct us to send and receive transfers of MKT through your online wallet on your behalf for the purposes of meeting your obligations under those transactions and you acknowledge and accept that we have no liability to you in respect of such transactions and that you are primarily responsible for any additional terms and/or charges imposed by such third party providers of goods, services or digital content and you shall hold us harmless in respect of the same.
8. Transfer (TX) fees
8.1. Please note that we may apply the TX Fees set out below to any transfer of MKT, regardless of whether:
8.1.1. the wallet was developed by us;
8.1.2. whether the wallet is an online wallet or any other type of wallet; or
8.1.3. whether the sending and receiving wallets are controlled by the same or different users.
8.2. Each transfer of MKT is subject to a TX Fee in Waves, which is a minimum of 0.001 Waves. The TX Fee is charged by Waves blockchain.
8.3. In our app (“MarketChat”) a fee will be charged in MKT to cover the transaction cost on the Waves blockchain.
9. Minimum withdrawal limit
Although some cryptocurrency exchanges may support trading prices up to 6 decimal places, our Services and Digital Content do not permit you to withdraw or transfer less than 0.01 MKT in any single transaction. This is subject also to the TX Fee set out in clause 8.
10. In-App Wallet
10.1. Through our app (“MarketChat”) you can receive or send MKT to any Waves wallet address, in addition you can also transfer to any in-app user via chat. These transactions are subject to TX Fee in clause 8.
10.2. In addition to the transfers mentioned in 10.1, you can also:
10.2.1. buy MKT using credit card; and
10.2.2. use MKT to exchange products or services with other users;
10.3 For security and technical operational purposes, we may in exceptional circumstances need to change your wallet Address. Where we need to do so we will provide you with reasonable notice and you agree to provide us with all reasonable information and assistance in making such changes.
11. Trading considerations
11.1 MKT is traded on cryptocurrency exchanges worldwide. We do not trade MKT; we provide facilities by which MKT may be sent and received as between users.
11.2. There are many factors that you should consider before trading MKT, for example the prospects of price fluctuation, risk to your capital and market illiquidity. Past performance is not an indication of future performance and the value of MKT may go down as well as up.
11.3. Your use of MKT on a cryptocurrency exchange will be subject to that exchange’s terms of service, which is out of our control.
11.4. Although MKT is listed on several cryptocurrency exchanges, we are in no way affiliated with any exchange.
11.5. We shall be in no way liable for any loss or damage you may incur as a result of your use of cryptocurrency exchanges or engaging in trading MKT.
12. Regulatory status
12.1. MKT is not an investment product or other type of financial instrument which is currently directly regulated in Brazil by Securities Commission.
12.2. MarketCash itself does not (or has not) performed any financial services activity currently regulated directly in Brazil by the Securities Commission.
12.3. There is currently no direct regulator of exchange token cryptoassets within Brazil. Consequently users of MKT tokens or the Services and Digital Content do not benefit from protections such as the Financial Services Compensation Scheme or the Financial Ombudsman Service. We do not warrant, represent or guarantee that your use of MKT tokens, the Services or the Digital Content is appropriate for use or available in your territory. You are responsible for ascertaining and monitoring the legal status of MKT tokens, the Services and Digital Content in your territory and you do this at your own risk.
12.4. To the extent that such laws are adopted from time to time, we will comply with all relevant laws in Brazil which apply to cryptoassets.
13.1. We make no representation as to the tax status of your use of the Services or Digital Content.
13.2. You are solely responsible for determining your tax liability in relation to your use of the Services and Digital Content and must take your own tax and other professional advice in your territory.
14. Information provided by us
14.1. The information provided by us (other than specific technical information) is:
14.1.1. provided in good faith and for general information only. Whilst we take reasonable steps to ensure that it is correct, but we cannot guarantee that it is the most up-to-date information at all times;
15. User restrictions
The Services and Digital Content are directed at users aged 18 or older only. Where we have reason to believe you are under the age of 18, we reserve the right to take any of the actions described in clause 26 below.
16. You must keep your account details safe
16.1. When you use the MarketChat, Online Wallet or Waves App, you will be asked to provide a password. You must keep your password and all other information provided as part of our security procedures safe and confidential. You must not disclose this information to any third party.
16.2. You must use a unique password which you do not use for any other service, product or digital content.
16.3. You are responsible for ensuring and maintaining the security of any device on which you use or access the Services or Digital Content.
16.4. If you know or suspect that anyone other than you knows your password, you must promptly notify us at [email protected].
17. Unsolicited transfers to us
17.1. Where unsolicited transfers of MKT or any other cryptocurrency are made to any Online Wallet or wallet owned or operated by us, we are under no obligation or duty to return such MKT or other cryptocurrency and such funds may be retained, suspended or isolated in some other way at our discretion, pending investigation and/or resolution of the underlying reasons for that unsolicited transfer.
17.2. Where we have reason to believe that an unsolicited transfer of cryptocurrency may involve an attempt to conduct unlawful activities, we will report such transfers to the relevant legal, regulatory or enforcement authorities. We will co-operate with those authorities during any subsequent investigation or prosecution.
18. Private key and wallet security
18.1. MKT can be stored in Online Wallets, offline wallets and in other types of wallet not developed or provided by Waves. You can access your Online Wallet via the App or Waves’s website.
18.2.1. must keep your private keys safe at all times and must not disclose or transfer (or permit to be disclosed or transferred) such keys to any third party than in the course of transferring MKT into an Online Wallet;
18.3. We cannot warrant, represent or guarantee the security of your Online Wallet or use of the App. If any third party gains access to your private keys, your MKT may never be recovered.
18.4. Our app (“MarketChat”) provides a MKT deposit address, and it is not possible to import a Waves wallet into our app.
18.5. You must comply with the “Best Practice” guidance set out on our website (as amended from time to time).
19. In-App Rewards
19.1. The app provides access to the in-app rewards feature through which MKT can be periodically added to your balance after viewing ads or completing tasks.
19.2. You must:
19.2.1. follow the tasks as described, do not attempt to circumvent or use obscure methods.
19.3. Any breach of clause 19.2 shall entitle us to permanently disable your access to the rewards section without further notice to you.
19.4. The amount of any payment of MKT made by us to you, the payment threshold and rate at which MKT may be added to your balance as a result of your as a result of completing tasks, are subject to change and determined by us at our absolute discretion.
19.5. We make no warranty, representation or guarantee as to the regulatory or tax status regarding your access and use of the In-App Rewards including receipt of MKT from us as a result of use of the In-App Rewards.
20. Digital content downloads
20.1. We make the Digital Content available for use and download from our website (https://marketcash.io) which links to the Google Play Store and Apple App Store (“Approved Marketplaces”). You must only use the Services or download the Digital Content via MarketCash’s website link to the Approved Marketplaces.
20.2. All Digital Content made available by us on Approved Marketplaces is described as being developed by us. If you wish to download the Digital Content, you should do so only after following links contained on our official website. We do not endorse and are in no way affiliated with any other platforms or software which purport to provide access to, or integrate with, the Services or Digital Content.
20.3. Whilst we make reasonable efforts to get taken down from the Approved Marketplaces or elsewhere any malicious fake, scam or cloned mobile applications, software, websites or other content which purports to be affiliated with us, we shall be in no way liable for any loss or damage you may incur as a result of your use or download of such mobile applications.
21.1. In return for your agreeing to comply with these terms you may:
21.1.1. access and use any of the Digital Content on a non-exclusive, non-transferable basis without the right to grant sub-licences.
22. New releases and updates
22.1. We may provide to you updates of the Digital Content. If we do so, you must install all such updates promptly upon release. We cannot ensure the integrity and correct functionality of the Services and Digital Content if you fail to do this.
22.2. We only support the current version of the Digital Content. If we make updates available to you in order to address security or other issues which we (at our absolute discretion) deem necessary, you must install such updates.
22.3. If you choose not to install such updates you will not be able to continue using the Services or the Digital Content via the App due to the security risks posed by the use of out-of-date software.
23. System requirements
23.1. You are responsible for ensuring that your phone / device meets the minimum operating requirements for the Digital Content. Please refer to the Best Practice guidance set out on our website.
24. Our obligations to you
24.1. The Services and Digital Content are provided to you on an “as is” basis. You accept responsibility for selection of the Services and Digital Content to achieve your intended results and acknowledge that the Services and Digital Content have not been developed to meet your individual requirements.
24.2. Due to the nature of software, we cannot warrant that your use of the Services or Digital Content will be uninterrupted or error-free. Whilst we take all reasonable precautions to ensure that the Services and Digital Content are secure, we cannot guarantee that the Services and Digital Content are immune from various forms of attack by malicious third parties.
24.3. During periods of high demand users may experience transaction delays or (in a minority of circumstances) failures. You acknowledge that the Services or the Digital Content may be subject to limitations, delays and other problems inherent in the use of blockchain technology and internet communications facilities.
24.4. We may limit or restrict your access to the Services or Digital Content:
24.4.1. in order to perform maintenance, updates or improvements;
24.4.2. subject to MKT balance limits and anti-money laundering due diligence checks in accordance with clause 4; or
24.4.3. otherwise in accordance with legislation in force from time to time.
24.5. To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to these terms, the Services or the Digital Content, whether express or implied.
25. Our liability to you
25.1. We provide Services and Digital Content which facilitate the use of MKT. We do not represent, investigate, or contract on behalf of users. As such, by entering into a transaction with another user via the Services or Digital Content you agree that we are not responsible for and shall not be liable to you, or to any third party, in relation to a transaction, or for any acts or omissions of other users of the Services or Digital Content. You must conduct your own due diligence and enquiries before entering into any transaction with another user.
25.2. Nothing in these terms shall limit or exclude our liability for:
25.2.1. death or personal injury caused by our negligence, or the negligence of our employees, agents or subcontractors (as applicable);
25.2.2. fraud or fraudulent misrepresentation; or
25.2.3. any matter in respect of which it would be unlawful for us to exclude or restrict liability.
25.3. Except to the extent expressly stated in these terms, all terms implied by statute, common law or otherwise are excluded, including implied conditions, warranties or other terms as to satisfactory quality, fitness for purpose or the use of reasonable skill and care.
25.4. Subject to clause 25.2: we shall not be liable to you, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with your use of the Services or Digital Content.
25.5. Where there is any dispute between you and another user, we may (in our absolute discretion) provide such assistance to you as we consider to be reasonable in the circumstances, but we will not be responsible for resolving or mediating such dispute. Any such disputes must be taken up by you with the relevant user who is directly responsible to you for such matters.
25.6. We assume no general or specific of care duty (whether fiduciary or otherwise) towards you except as specifically set out in these terms and conditions.
26. Term and termination
26.1. These terms (as updated from time to time) apply for as long as you use the Services or the Digital Content.
26.2.1. Immediate, temporary or permanent withdrawal of your right to use the Services and Digital Content (or any part of them).
26.2.2. Issue of a warning to you.
26.2.3. Legal proceedings against you for reimbursement of all costs on an indemnity basis (including, but not limited to, reasonable administrative and legal costs) resulting from the breach.
26.2.4. Further legal action against you.
26.2.5. Disclosure of such information to law enforcement, regulatory or other authorities as we reasonably feel is necessary or as required by law.
26.3. We may also take the actions outlined in clause 26.2 above:
26.3.1. pursuant to any ruling, order or instruction from any relevant legal, regulatory or other enforcement authority; or
26.3.2. following any change in the laws or regulations in your territory which renders the supply of Services or Digital Content to you unlawful.
26.4. We may suspend your Account:
26.4.1. pursuant to any ruling, order or instruction from any relevant legal, regulatory or other enforcement authority
26.4.2. if we reasonably consider you to be a Politically Exposed Person as defined by financial enforcement authorities;
26.4.3. if you fail to disclose mandatory information which we require to perform due diligence checks on you in accordance with our obligations under applicable anti-money laundering legislation;
26.4.4. following any change in the laws or regulations in your territory which renders the supply of Services or Digital Content to you unlawful; or
26.4.5. as otherwise required by law.
26.5. On termination of your access to the Services and Digital Content (whether at your discretion or pursuant to these terms and conditions):
26.5.1. all rights granted to you under these terms shall cease;
26.5.2. you must cease all activities authorised by these terms; and
26.5.3. you must immediately destroy or return to us all copies of the Digital Content then in your possession, custody or control.
26.5.4. we shall not be obliged under any circumstances to purchase any amount of MKT still held by you.
26.6. Any provision of these terms that expressly or by implication is intended to come into or continue in force on or after termination of your access to the Services or Digital Content shall remain in full force and effect. Your obligations to us will continue and our limitations of liability will continue to apply as set out in these terms and conditions.