These Terms of Use (’Terms’) govern your access to and use of the beta cryptocurrency wallet software and services (the ’Wallet’) provided by Quranium SA (’we’, ’us’, or ’Company’).
By accessing or using the QSafe Wallet, you unconditionally agree to be bound by any terms and conditions set out herein. These Terms of Use constitute a legally binding agreement from the moment you begin using the QSafe Wallet.
You also agree to comply with any applicable laws, regulations, and requirements that may govern your access to and use of QSafe wallet including but not limited to those relating to cryptocurrency transactions.
Please read the Terms of Use carefully before accessing and using QSafe Wallet. If you do not agree fully to the Terms, you must not use the Wallet and should cease use immediately.
As we are constantly improving our services including the QSafe Wallet, we may have to change or amend these Terms occasionally. We will always make an effort to notify you of such changes, but you should also check the Terms available on the Website regularly yourself to see when they were last updated (the date of the last update is listed at the top).
IMPORTANT NOTICE: This Wallet is currently in beta, operates exclusively on our proprietary testnet, and is in the process of undergoing a formal security audit. We strongly recommend you to maintain caution.
If you continue to use QSafe Wallet after you have learned of any changes or amendments hereto, you are deemed to have accepted these amendments and changes. However, if you do not accept them, you are not entitled to use QSafe Wallet and you shall stop using it immediately.
1. Definitions
’Wallet’ or ’QSafe Wallet’ refers to our beta cryptocurrency software interface used exclusively on our proprietary testnet.
’Testnet’ refers to our proprietary testing environment created specifically for beta use of the Wallet.
’Test Tokens’ refer to digital tokens created for use exclusively within the Testnet.
’User’ or ’you’ refers to anyone accessing or using the Wallet.
’We’ or ’Us’ or ’Company’ means Quranium SA, a company incorporated under the laws of Switzerland.
’Account’ means a collection of transactions sent to addresses belonging to that account.
’Address’ means a unique alphanumeric identifier used to receive cryptocurrency payments.
’Fiat Currency’ means a government-issued legal tender not backed by a physical commodity.
’Transaction Fee’ means a payment to miners or validators for confirming transactions on the blockchain.
’Terms of Use’ or ’Terms’ means these QSafe Wallet terms of use.
Any capitalized terms used herein shall have the meaning given to them in the ’Definitions’ section unless explicitly stated otherwise. The section headings in these Terms are for convenience only and shall not govern interpretation.
2. Beta and Testnet Use
The Wallet is beta and provided solely for testing purposes. We explicitly disclaim all warranties, express or implied, regarding functionality, security, or suitability for any specific purpose.
The Wallet has not been security audited, thoroughly tested, or otherwise verified. You acknowledge this status and agree that any use of the Wallet is at your own risk.
The Wallet is accessible only on our proprietary testnet. You explicitly assume the risk if you decide to deposit, attempt to deposit, or transfer any real cryptocurrencies or tokens other than designated test tokens into the Wallet.
You acknowledge that you have full legal capacity and that your legal capacity has not been previously limited to an extent that could prevent you from accepting these Terms, accessing and using QSafe Wallet and managing your cryptocurrency assets.
If you access and use QSafe Wallet on behalf of a legal entity, you represent that it has been duly established and that it exists in accordance with the laws that govern its establishment and existence respectively, and you represent that you are authorized to act on behalf of the legal entity.
You may only use QSafe Wallet with your original device as QSafe Wallet provides you solely with a software interface.
QSafe Wallet may be accessed only via the web browser extension. To use QSafe Wallet via the web browser extension, your device must be connected to your computer with access to a compatible web browser.
You may access the QSafe Wallet and download the extension by visiting the Website. By accessing and using our Website you agree with the Website Terms of Use published thereon.
To facilitate the connection between your device and your web browser in order to access and use the QSafe Wallet web browser extension, you shall download and install the QSafe application.
You acknowledge that the original version of the QSafe Wallet application developed by Quranium SA is only accessible through the web browser extension. If you choose to download it from any other source and to use such unverified application, we shall assume no liability for damages incurred as a consequence thereof.
You may also access the QSafe Wallet via your mobile phone web browser when your device is connected to your mobile phone. This function may be limited to some Devices and it is also limited to the Chrome web browser. You may have to use third-party software to facilitate the connection between your device and your mobile phone’s Chrome web browser (WebUSB API extension or similar). We shall assume no liability for damage incurred as a consequence of using such third-party applications.
You acknowledge that we do not assume any liability for any damages caused by third-party developed software and/or hardware you use to facilitate the connection between your device and your computer and mobile phone, or to access any data stored on your device or to manage your Wallet within your device or for any other reason.
You acknowledge that the QSafe Wallet services may be accessed only directly through the web browser extension. We advise you to always connect to the QSafe Wallet directly and never to use any third-party intermediaries and we do not assume any liability for any damages incurred as a consequence of your failure to follow the advice.
3. Wallet Initialization and Security
Upon initializing the Wallet, you may create private keys, recovery phrases, and passphrases. You are solely responsible for securely managing and storing these credentials.
Loss of private keys, recovery phrases, or passphrases will result in permanent loss of access to the Wallet and any associated assets, test or otherwise. We accept no liability for such losses.
Before you can start using your Device with QSafe Wallet, visit the “Download” section of our Website, download and install QSafe Wallet and connect your device to your computer, or connect your device to your computer, download and install the web browser extension. Please be aware that there are other possible methods for the initialization of your device including an offline method with command line tools. Unless you are a very experienced computer user, we recommend following the usual initialization method described herein. If you choose to initialize your device using any other procedure and consequently suffer any damage, we do not assume any liability.
During the initialization procedure you will be asked to download and install original firmware to your device. Please do not disconnect your device before the installation is complete otherwise you risk corrupting your device.
You may subsequently create your cryptocurrency wallet to manage your cryptocurrency coins. The wallet can only be used to manage coins of supported cryptocurrencies.
It is in our sole discretion to decide whether a cryptocurrency will be supported. The current list of supported cryptocurrencies may be found on our Website. This list of supported cryptocurrencies may change from time to time; in that case we shall always update the list accordingly in advance. Before we change the list of supported cryptocurrencies, any unlisted cryptocurrencies are considered as unsupported and we strongly recommend that you DO NOT manage (send and/or receive) any funds in such cryptocurrencies. If you choose to do so, you explicitly assume the risk, and Quranium SA will not be held liable in any capacity.
We strongly recommend creating a recovery seed and setting up a PIN as described below to keep your cryptocurrency coins safe. If you continue using the QSafe Wallet without further protection and back up, we shall assume no liability for any damage incurred as a consequence thereof.
You may at any time after the QSafe Wallet initialization create a recovery seed – a chain of randomly selected words. Recovery seed enables you to recover the information stored on your device. Without a recovery seed, you may not recover information stored in your device and your wallet and your cryptocurrency coins stored in the wallet may be lost forever.
The recovery seed is created by your device and we never transmit it to your computer or mobile phone. QSafe Wallet serves only to initiate the recovery seed creation procedure. The recovery seed shall therefore never be displayed on your computer or mobile phone. You are solely responsible for remembering the recovery seed. You may write the recovery seed down, but it is ultimately your responsibility to keep it safe from any third parties.
Anyone possessing your recovery seed may recover data stored on your Device including your wallet and dispose of your cryptocurrency coins associated with the wallet. You acknowledge that if your cryptocurrency coins are stolen, there is no possible recovery. You are therefore solely responsible for keeping your recovery seed safe from any third parties.
Furthermore you may at any time after your device initialization set up a PIN to protect your device. Please be aware that if anyone takes possession of your device, they may freely dispose of any cryptocurrency coins associated with your wallet unless you set up a PIN. We therefore strongly recommend that you set up a PIN.
The chosen PIN shall never be transmitted to your computer or mobile phone. You are therefore solely responsible for remembering the chosen PIN and for keeping it safe from third parties.
You may change some of the settings such as the PIN, device name etc. within the QSafe interface even after the initialization procedure. The recovery seed, however, cannot be changed.
You may at any time after your Device initialization set up a custom character, word or phrase (“passphrase”) within your QSafe Wallet interface to create a new wallet. You can repeat this process multiple times to generate multiple wallets. You may then access any respective wallet within your QSafe Wallet interface by filling in the respective passphrase. You acknowledge that the passphrase may be transmitted to QSafe Wallet upon login.
If you forget your passphrase for any newly created wallet, that respective wallet may not be recovered, so keep the passphrase safe. You are solely responsible for remembering your passphrase and for keeping your passphrase safe from any third parties.
You acknowledge that any private keys associated with your wallet are generated locally on your device (they are derived from your recovery seed and passphrase, if applicable) and are never transmitted to QSafe Wallet or anywhere else outside the device. You are solely responsible for keeping your device safe from any third parties.
4. QSafe Wallet
QSafe Wallet serves mainly to access your cryptocurrency wallets within your device and to manage your cryptocurrency coins associated with your wallets. QSafe Wallet therefore will not work properly without your device. You cannot manage your cryptocurrency coins associated with your wallet without your device.
Transactions
Within the QSafe Wallet you are able to view the total of the (supported) cryptocurrency coins associated with your wallet and you are able to manage them.
Therefore, you may among other things submit transactions to send cryptocurrency coins to other users of the respective cryptocurrency network.
You shall not under any circumstances attempt to send or receive any other cryptocurrency coins that are not supported by QSafe Wallet within a meaning of the Article 3.4. hereof.
You shall under no circumstances attempt to send your cryptocurrency coins to a receive address created within a different cryptocurrency network. If you attempt to do so, you may lose your cryptocurrency coins without any possibility of recovery.
The transactions shall be processed pursuant to the submitted instructions. You hereby acknowledge that we do not carry out the transactions ourselves; the transaction must be verified by the respective cryptocurrency network and the speed of the transaction depends solely on the processes within the respective cryptocurrency network as described below in these Terms.
You are solely responsible for ensuring that all the submitted transaction information is correct. You shall always verify all the transaction information before you submit it.
We do not assume, under any circumstances, any liability for any obligations of the third party receiving the transaction. We are not in any way a part of such a legal relationship and any subsequent claims and disputes shall always be settled solely between you and the respective third party.
When submitting a transaction, QSafe Wallet shall calculate for your information an approximate amount of fiat currency equal to the amount of cryptocurrency you are trying to send. This calculation is only for your information and it is based on the exchange rates provided by a third-party provider. Information about the third-party provider may be found on our Website. The exchange rate is updated approximately every five (5) minutes, so it may not be completely accurate at all times. Even with the aforementioned five (5) minute refresh cycle, fiat values are estimates, rates may change between display and confirmation, and the final execution will be in crypto, not fiat currency. By using the QSafe Wallet, you acknowledge and agree that Quranium SA will not be held liable for any issues pertaining to these qualities.
You may provide third parties with your address generated by the wallet within the respective cryptocurrency network to receive cryptocurrency coins. You shall under no circumstances attempt to receive cryptocurrency coins sent to your address created within a different cryptocurrency network. If you attempt to do so, you may lose your cryptocurrency coins without any possibility of recovery.
If you attempt to carry out a forbidden transaction pursuant to the Article 4.3. and/or Article 4.9. hereof, you hereby agree to waive any and all rights to the affected cryptocurrency coins and agree you shall have no access, entitlement or claim to such cryptocurrency coins.
If you have any reason to suspect or you know that you have received cryptocurrency coins from a third party to any of your addresses in error, you are obliged to notify our support center and you must handle such cryptocurrency coins only in accordance with our instructions. You are not entitled and you do not have any claim to such cryptocurrency coins.
Transaction processing
You acknowledge that submitted transactions must always be confirmed by the respective cryptocurrency network and recorded in its public transaction ledger. We are therefore not responsible for processing the transaction and cannot control it in any way. In particular, we cannot cancel, reverse, recover or otherwise control a transaction once it has been submitted to the network. We may only facilitate a submission of your transaction to the respective cryptocurrency network and check whether the transaction has been confirmed by the network.
Once submitted the transaction shall be listed as pending before it is sufficiently confirmed in the cryptocurrency network. Until it is confirmed, the transaction may or may not be completed; therefore the sent cryptocurrency coins shall not be available to the sender to use in other transactions unless the transaction is rejected by the network and it shall also not be available to the receiver unless the transaction is confirmed by the network.
You acknowledge that the cryptocurrency networks are decentralized and are operated by an undisclosed number of independent third parties always working on finding a consensus on the transaction confirmation or rejection.
You acknowledge therefore that if the transaction is delayed or not completed at all, there might not be a real recourse possibility for you to claim your lost cryptocurrency coins or incurred damage recovery as any possible errors and mistakes might not be easily accountable to any individual party.
Transaction fees
When you submit cryptocurrency transaction information you may choose the size of the Transaction Fee (in respective cryptocurrency units) to be sent with the transaction. You acknowledge that the size of the Transaction Fee might determine the time of the transaction confirmation. If you send a transaction with low or no Transaction Fee, the transaction might never be confirmed.
For your convenience we pre-calculate four possible Transaction Fee sizes (low, economy, normal and high). The pre-calculated Transaction Fee sizes are not binding to you and you may set any other custom Transaction Fee. The pre-calculated Transaction Fee sizes are based on our experience; however, we do not and may not under any circumstances guarantee that any of the pre-selected Transaction Fees will be sufficient to ensure transaction confirmation.
For some of the supported cryptocurrency coins, we may provide you with a method that allows you to replace one version of an unconfirmed transaction with a different version of the transaction that pays a higher Transaction Fee in order to increase the probability of transaction confirmation (“Replace-by-fee” or “RBF”). The RBF function must be turned on when submitting the original transaction, otherwise you may not be able to use it.
5. Exchange, Buy and Sell
In the QSafe Wallet interface you may exchange your cryptocurrency coins for coins of another supported cryptocurrency or you may sell your coins or purchase more cryptocurrency coins for fiat currency.
The section of the QSafe Wallet interface, where you may exchange, purchase or sell cryptocurrencies is operated solely by the company Quranium SA, a company incorporated under the laws of Switzerland with its registered office at Unlimitrust campus Route des Flumeaux 48, 1008 Prilly and any services provided thereon are subject to Quranium’s Terms of Use, which are available on the website https://quranium.org.
You acknowledge that any purchase, sale or exchange is facilitated by a third-party service provider and we assume no liability in the event that you do not receive the stipulated amount of cryptocurrency. We also do not guarantee the availability of any third-party providers’ services at all times.
You acknowledge that Quranium SA may not necessarily be a provider of exchange, purchase or sale services itself. The exchange, purchase and sale services will be usually provided by a different third party provider of your choice. See Quranium’s Terms of Use for more information.
6. Staking
You may at any time after your device initialization within your QSafe Wallet interface lock up certain cryptocurrencies to support network operations of the particular cryptocurrency, including transaction validation and, as a result, earn staking rewards (“Staking”).
You acknowledge that Staking is facilitated and provided by various third-party service providers, and we assume no liability for the functionality and availability of these services.
You acknowledge that Staking is subject to a separate set of terms and conditions issued by the respective service provider. We will always provide you with a link to the current version of the respective service provider terms and conditions within the respective section of QSafe Wallet.
You acknowledge that when your cryptocurrency is locked up for Staking, your coins may not be available for you to perform a regular Transaction as described in Article 4 of these Terms.
Fees
For Staking, you will be charged a fee by the respective service provider, the amount of which will be shown to you prior to confirming any transactions (“Service Provider Fee”). For more information, see the respective service provider terms and conditions.
For Staking, apart from the Service Provider Fee, you will also be charged the Transaction Fee, charged by the respective cryptocurrency network.
7. Other Services
There may be other services (such as Password Manager, QSafe Wallet Manager etc.) accessible via the QSafe Wallet interface. You acknowledge that the access to and use of such services is governed by a set of special terms and conditions available upon accessing any respective service. The special terms and conditions are also available on our Website in the“Terms of Use” section.
Your access and use of any services not expressly listed in these Terms shall be governed by these Terms and Website Terms of Use unless stated otherwise in the special terms and conditions.
8. Availability
We seek to provide continuous uninterrupted QSafe Wallet operation, so you can access and use it at any time. However, you acknowledge that due to maintenance, repairs or exceptional outages we cannot guarantee uninterrupted (100%) QSafe Wallet availability.
In the event that the QSafe Wallet is unavailable due a planned temporary maintenance shutdown, we shall make an effort to inform you thereof in advance. However, under no circumstances, irrespective whether you have been notified in advance or not, are we liable for any damage incurred by you as a consequence of Wallet unavailability.
Without prejudice to the above we are not obliged to maintain QSafe Wallet availability and operation, if temporarily or permanently prevented by a force majeure event - an event or circumstance that is extraordinary, unforeseeable and unpreventable by usual means and with proper care, and that occurred independently of our will; such a force majeure event is, among other things, a serious hacking attack.
9. Warranties and Liability
Warranties and Limitation of Liability
QSafe Wallet is offered on “as is” and “where-available” basis and therefore we expressly disclaim any warranties, express or implied, relating to the QSafe Wallet including but not limited to merchantability and suitability for any particular purpose.
We shall not under any circumstances be held liable to you for any direct, indirect, special, incidental, consequential, punitive or any other damages and costs including but not limited to loss of profit, revenue, savings, anticipated savings, business opportunity, data or goodwill regardless of whether such losses are foreseeable or not, arising out of or in connection with your access and use or inability to access and use of QSafe Wallet.
Without prejudice to the liability limitation set out above, our collective liability to you, arising out of or in connection with your access and use or inability to access and use of QSafe Wallet, shall not exceed in aggregate the fees you have paid us for using our QSafe Wallet services.
Pursuant to certain laws it may not be possible to disclaim our liability and warranties completely. In such cases we hereby disclaim our liability and warranties to the fullest extent permissible by such law. You acknowledge that if you are a consumer some of the liability and warranty limitations may not apply to you depending on your country of residence.
Indemnity
You agree to indemnify and hold harmless Quranium SA, its officers and directors, employees and agents, members and its affiliates against any loss, liability, claim, damage and expense including but not limited to any and all expenses reasonably incurred in defending against any litigation commenced or threatened or any claim arising out of or in connection with these Terms.
Financial Risk
Under no circumstances shall any information within the QSafe Wallet and/or Website or provided to you by us constitute financial, investment or professional advice, unless explicitly stated so.
You are solely responsible for your decisions regarding storing, buying, selling, exchanging, sending and receiving cryptocurrency coins and you shall always consider your financial circumstances and associated risks before obtaining coins of any cryptocurrency.
You represent that you understand all the risks involved in purchasing, selling and exchanging cryptocurrency coins. You represent in particular that you understand that the value of cryptocurrency coins may be extremely volatile and that its exchange rate in respect to other cryptocurrencies or to fiat currencies may fluctuate significantly, which could lead to significant and sudden decreases in the value of your cryptocurrency assets.
You consider that not all the associated risks of using cryptocurrencies are identified in these Terms.
You hereby acknowledge, that you are solely responsible for obtaining the necessary information about tax or similar obligations arising in relation to any submitted transactions and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities. We are not responsible either for obtaining the above-mentioned information or for the fulfillment of such tax (or similar) obligations.
Lawful Conduct
You must not use QSafe Wallet to violate any applicable laws or regulations and you must specifically not undertake, facilitate or support criminal activities including money laundering, illegal gambling, malicious hacking or any other criminal activities.
You must not abuse QSafe Wallet by imposing unreasonable or large loads of tasks, attempting to gain unauthorized access to parts of QSafe Wallet that are not publicly available, or uploading any materials containing viruses or any other harmful programs.
You agree to not abuse any respective cryptocurrency network including but not limited to sending the cryptocurrency coins to multiple addresses at once (double spending).
Personal Data
The collection of your personal data in connection to QSafe Wallet access and use shall be as limited as possible. Any collection, storage and handling of your personal data shall be governed by a separate set of terms on handling the personal data of Users (Privacy Policy), which shall be published on the Website.
Early Access Program
We may make available to you our Early Access Program services, under which you may use new features before they are available in the regular QSafe Wallet. Please note that as the Early Access Program represents a testing environment, some features of the Early Access Program may contain errors or bugs, may not be available from time to time and may not work as intended.
By enabling the Early Access Program, you agree that we might be collecting anonymized usage data, especially error logs, for development purposes. You also agree that we may change or terminate the Early Access Program services at any time without any prior notification.
If you decide to use the Early Access Program, you do so on your own risk and you understand that we shall not under any circumstances be held liable to you for any direct, indirect, special, consequential, punitive or any other damages and costs including but not limited to loss of profit, loss of revenue, loss of business opportunity arising out of or in connection with your access and use or inability to access and use of Early Access Program services.
You understand that the Early Access Program is not a finalized product and there might be errors and bugs.
10. Communication
You agree that any communication relating to your access to and use of QSafe Wallet will be addressed to you electronically via notifications available upon accessing QSafe Wallet or via email (if provided by you in the QSafe Wallet interface). You agree to visit QSafe Wallet and update your email address regularly to receive any communication we have addressed to you.
If you provide us with an email address that is incorrect or inaccessible to you we shall assume no liability for your failure to receive any communications addressed to you via such email address.
You can contact us electronically via the tools available on our Website or via the email address [email protected]. Any electronic communication is considered as delivered when we confirm its delivery to you.
11. Law and Jurisdiction
You agree that the laws of Lausanne, Switzerland, without regard to principles of conflict of laws, will govern these QSafe Wallet Terms of Use and any dispute of any sort that might arise between you and Quranium SA in connection therewith.
Any dispute relating in any way to these Terms shall be decided with final effect before the courts of Switzerland, in particular before the Court for the Canton of Vaud. Should you have violated or threatened to violate Quranium SA’s intellectual property rights in any manner, Quranium SA may seek injunctive or other appropriate relief in any court of our choice. You consent to exclusive jurisdiction and venue in such courts.
You agree to notify us of any disputes arising out of or in connection with these Terms without undue delay. You furthermore undertake to attempt out-of-court resolution of any disputes before you bring your claims to the above-mentioned courts.
