Terms and Conditions
Last Updated: May 5, 2022
Please, read these Terms carefully as they govern your use of LYOWALLET services and it clearly explains how your account and our services work. By accepting these Terms and using our services, you agree to be legally bound by these Terms and all terms incorporated by reference. If you don’t agree with these Terms or any of its Clauses, you shall immediately cease to use our services.
These Terms are provided in English. Any translation has the sole purpose of being convenient for you. In case of any inconsistency, contradiction or doubt, the English version of these Terms shall prevail.
1.1. These Terms regulate relations pertaining to the use of the mobile applications (“Software”). All of the services provided by LYOWALLET are hereinafter referred as “Services”.
1.2.1. “User” (“You” and “Your”) means, the natural person (individual) accessing the website or Software, using our Services and accepting these Terms.
1.2.2.“LYOWALLET”, “Ourselves”, “We”, and “Us” refers to the product of LYOTRADE LTD governed by the laws of Skelton Bay Lot, Fish Bay, Tortola, British Virgins Islands.
1.2.3. “Party” refers to the contracting Parties under these Terms are You and LYOWALLET.
1.2.4.“Digital Asset”, “Cryptocurrency” refers to blockchain-based software ledger data entries.
1.2.5. “Exchange” means the swap of a crypto asset for another or the same one crypto asset, or the conversion of a fiat currency to cryptocurrency and vice versa.
1.2.6. "Crypto Assets" means a type of assets that can be transferred only and exclusively using blockchain technology, including, but not limited to digital coins and digital tokens, and any other digital mediums of exchange.
1.2.7.“Third-party service” means 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.
1.2.8. "Private Information" means User’s private keys, backup phrases or passwords.
1.3. In order to be able to use our Services you warrant and represent that:
1.3.1. You are a natural person who has attained the age of 18 with legal capacity according to the relevant jurisdiction.
1.3.2. You are only transacting on Our Services with legally obtained funds that is legally belong to you
1.3.3. You are not furthering, performing, undertaking, engaging in, aiding or abetting any unlawful activity through your relationship with Us or through your use of Our Services;
1.3.4. You are complying with these Terms of Use
1.3.5. You acknowledge and agree that LYOWALLET is not acting as your broker, intermediary, agent or advisor or in any fiduciary capacity, and no communication or information provided to you by LYOWALLET shall be considered or construed as advice;
1.4. In these Terms, unless otherwise specified, the words importing the singular include the plural and vice versa, and the words importing gender include all genders.
Subject to your compliance with the Terms, LYOWALLET grants you a no assignable, non-transferable, non-sublicensable, revocable, and non-exclusive license to use the Software on devices you own or control solely for your personal or internal business purposes.
LYOWALLET is a cryptocurrency infrastructure, which consists the following services;
LYOWALLET Mobile Application | Allows Users to access and transfer ownership of Cryptocurrency. |
LYOWALLET Exchange Operations | LYOWALLET itself does not provide Exchange Service. LYOWALLET exchange opportunity is provided by external provider “ChangeNOW”. When making an exchange, you agree with Partner’s Terms of Service https://changenow.io/terms-of-use Although the Software makes it easy to engage with the integrated third parties, LYOWALLET shall not be responsible for any consequences stemming from your use of third-party integrated services |
You own your Private Keys | PLEASE NOTE: LYOWALLET does not store User’s Private Information. It is very important that You backup Private Information. If you lose your Private Information then it will not be possible for LYOWALLET to recover it for You. In such an event You may lose access to your Cryptocurrency or tokens. |
No Control Over Blockchains | LYOWALLET is not the creator of and does not have any control over any of the Cryptocurrency that the LYOWALLET Mobile Non-Custodial Wallet Application allows you to store, exchange or to use. |
LYOWALLET may provide information about third-party products, services, activities or events, or may allow third parties to make their content and information available on or through the Services. LYOWALLET provides Third-Party providers as a service to those interested in such content. Your dealings or correspondence with third parties and Your use of or interaction with any Third-Party Content are solely between You and the Third-Party Providers.
LYOWALLET DOES NOT CONTROL OR ENDORSE, AND MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING ANY THIRD-PARTY PROVIDERS, AND YOUR ACCESS TO AND USE OF SUCH THIRD-PARTIES IS AT YOUR OWN RISK.
CRYPTOCURRENCY RATES | All cryptocurrency rates available in the LYOWALLET Mobile Non-Custodial Applications are supported by TradingView. The original terms of use are available at https://www.tradingview.com |
CRYPTOCURRENCY TRANSACTION | User’s balance and actual transaction history are supported by each Cryptocurrency block Explorer. https://ethblockexplorer.org/ |
CRYPTOCURRENCY EXCHANGE | LYOWALLET provides virtual currency conversion of a fiat currency to cryptocurrency and vice versa through our Third-Party partners Guardarian. The rules described in the Terms of Use of Our partners apply to You in full. Please refer to and respect the relevant Terms of Use available here https://guardarian.com/terms-of-service Guardarian payment processing is subject to local bank policies. Issuer banks may decline the payment on their own terms. |
5.1. Unless otherwise specified, all materials on this Service are the property of LYOWALLET and are protected by copyright, trademark and other applicable laws. You may view, print and/or download a copy of the materials from this Services on any single computer solely for Your personal, informational and/or non-commercial use, provided you comply with all copyright and other proprietary notices.
5.2. The trademarks, service marks and logos of LYOWALLET and others used in this website (“Trademarks”) are the property of LYOWALLET and their respective owners. The Trademarks and other materials should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated.
5.3. When accessing the Service, you shall not:
a) negatively interfere with other customers;
b) damage, disable or in any way disrupt the website or the Services;
c) conduct, pay for, support or in any way be involved in any illegal activities, including but not limited to money laundering, terrorist financing, fraud, illegal gambling, illegal weapons sale and drug trafficking;
d) use any automated means or interface to access Services or to extract data; (v) use another customer’s account;
e) provide false or misleading information to us.
6.1. Trading and investing in Cryptocurrencies involve substantial risk of loss and is not suitable for all types of investors.
6.2. Please make sure You are investing mindfully after understanding the nature, complexity and risks inherent in the trading of Cryptocurrency.
6.3. You should not purchase Cryptocurrency unless you understand the extent of Your exposure to potential loss.
6.4. Please make sure You are not risking funds You cannot afford to lose.
6.5. In no event shall LYOWALLET be liable to any loss or damage of any kind incurred as a result of the use of this website or the Services.
6.6. LYOWALLET specifically disclaims and shall have no liability to you for the following risks:
(i) operating system failures (mobile or desktop); and,
(ii) disruptions between your hardware, software, and the LYOWALLET; and,
(iii) cloud backup software (e.g., certain Android distributions) may upload your private information to third party services; and,
(iv) malware, viruses or other malicious software on your device that is able to take control of or interfere with LYOWALLET; and,
(v) communication delays between your LYOWALLET Mobile Application and a node or relay services for a virtual currency (and vice versa); and,
(vi) failure to achieve a certain market value/price for a Cryptocurrency token, whether through a Third-Party Service or any other kind of transaction; and, theft of Cryptocurrency tokens.
YOU INDEMNIFY AND HOLD LYOWALLET SERVICE LIMITED HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA OR LOSS OF ASSETS, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH INVALIDITY OR BREACH OF ANY OF THE WARRANTIES, REPRESENTATIONS AND COVENANTS OF THIS SECTION AND THE ENTIRE TERMS.
To the extent permitted by law, LYOWALLET shall not be liable for any damages, losses of profit, usage or data, loss of business, loss of business, failure to use the Services, customers misunderstanding of Services or any other loss originated from negligence or fraud or otherwise arising out of or connected to the Services or these Terms. You shall indemnify and hold harmless LYOWALLET, its affiliates, contractors, licensors and respective shareholders, members, directors, officers, employees, attorneys, agents and suppliers from any claim, damage, lawsuit, tort, cost or expenses. The Service is provided on an “as is” and “as available” basis without any warranty or representation expressed or implied. You understand and agree that LYOWALLET shall not be liable in connection with any force majeure event, including labour disputes or other industrial disturbances, electrical, telecommunications, hardware, software or other utility failures, software or smart contract bugs or weaknesses, earthquakes, storms, or other nature-related events, blockages, embargoes, riots, strikes, acts or orders of government authority, acts of terrorism or war, technological change, changes in interest rates or virtual currencies or other monetary conditions, and, for the avoidance of doubt, changes to any blockchain-related protocol.
LYOWALLET's liability to You shall not, under any circumstances, exceed the greater of:
- the US dollar value of 0.005 BTC; or
- USD 50.
We care about your data protection, its security and confidentiality. We at LYOWALLET reserves the right to collect, process, use or disclose your Personal data in accordance with the Terms of Use including Privacy Policy. Please visit our Privacy Policy to understand how we collect, store, share and protect your personal data.
10.1.
VERIFICATION PROCEDURES | LYOWALLET partners establish verification procedures within the standards of AML & KYC frameworks in accordance with their Terms and Use. |
FIAT EXCHANGE | LYOWALLET’S Third-Party Providers will require the User to provide them with a reliable ID. We highly recommend You to read their Terms of Use here https://guardarian.com/terms-of-service |
CRYPTOCURRENCY EXCHANGE | LYOWALLET Third-Party Provider reserves the right to verify User’s identity during the Exchange processes, according to their policy: https://changenow.io/faq/kyc-aml-procedure |
Since the Software is locally installed, You are responsible for the security of the device on which it is installed, including ensuring that You keep anti-virus software current and otherwise protect the device on which the Software is installed against malware. We do not store PIN codes and biometric data that you set to log in to the application. This data is stored solely on your device.
It is Your responsibility to comply with local laws in respect to the legal usage of the Services and the regulatory qualification of Cryptocurrencies in your jurisdiction. You are responsible for determining what taxes apply and in which measure to the authorized use of the Services. You should report and remit the correct taxes to the appropriate tax authority if applicable. PLEASE NOTE LYOWALLET IS NOT RESPONSIBLE FOR DETERMINING YOUR TAX OBLIGATIONS.
13.1. In no event the LYOWALLET shall be liable for any inaccuracy, error, delay or omission, failure in performances or interruption of services of any transmission or delivery of information as in required by these Terms of Use or caused by, directly or indirectly, forces beyond its reasonable control of LYOWALLET including but not limited to any act of God, action of government, act of terrorists, war, fire, interruptions in telecommunications or internet services or network provider services, software malfunctions, strikes, work stoppages, accidents, civil or military disturbances or other catastrophe or any other causes beyond LYOWALLET reasonable control.
13.2. If LYOWALLET is unable to perform the Services outlined in the Terms due to factors beyond our control including but not limited to an event of Force Majeure, change of law or change in sanctions policy, LYOWALLET shall not be liable for the Services provided under these Terms during the time period coincident with the event.
13.3. These Terms set forth the entire understanding between LYOWALLET and You with respect to the Service. You agree to rely only on the Terms alone. These Terms supersede any previous statements made by LYOWALLET.
13.4. If any term, clause or provision of these Terms is held unlawful, void or unenforceable, then that term, clause or provision will be severable from these Terms and will not affect the validity or enforceability of any remaining part of that term, clause or provision, or any other term, clause or provision of these Terms.
13.5. No failure of LYOWALLET to exercise any right, power or privilege under these Terms is deemed to be a waiver thereof, nor any partial exercise of a right, power or privilege should preclude the exercise of the entire or other right, power or privilege.
13.6. You may not assign any of the rights conferred to you under these Terms without prior written consent from LYOWALLET. LYOWALLET may assign any right or obligation under these Terms without any notice to or consent from you.
The Terms of Use shall be governed and construed in accordance with the law of BVI. Please note that the Third-Party Provider terms of use shall also be applicable as per the Services you agreed upon.
If you have any questions, comments, or concerns relating to these Terms of Use, Your rights and obligations arising from these Terms and/or Your use of the website and the Services, please contact [email protected]
Last modified 2mo ago