Terms & Conditions - Speed Wallet

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1. Introduction & Scope of Services:

Speed Web App| Speed Wallet provides secure platform for businesses and individuals to accept and send bitcoin payments seamlessly. Speed provides services to users in jurisdictions where such services are legally permissible.

The terms and conditions defined here shall govern the use of Speed Web/Speed Wallet in a legally binding way. By accessing our services or entering into any other related agreement or relationship with us, user agrees to comply with and bound by these terms and conditions mentioned herein. Speed Web App| Speed Wallet reserves the rights to update or modify the terms and conditions from time to time. Users are encouraged to review this page time to time to stay informed of any changes.

2. Definitions:

“Speed Web App| Speed Wallet” is hereby referred as “Speed” for the purpose of terms of use mentioned. Speed hereby refers to this website including its domains, sub domains and any other website through which the owner makes its service available.

“User” refers to an individual or entity accessing services of Speed. A User does not qualify as a consumer under relevant laws or regulations.

“Bitcoin” refers to the digital currency or cryptocurrency that operates on a decentralized network and whose value can be traded and stored electronically.

“Services” refers to the services provided by Speed Web App| Speed Wallet to buy, sell, trade and manage bitcoins and its associated activities as described in these terms and conditions and on Speed Web App | Speed Wallet.

“Platform” refers to the interface (web app and wallet) provided by Speed, through which users can access digital services, tools and related activities.

“Prohibited Activities” refers to conducting repetitive transactions of the same or similar amount with the sole purpose of accumulating reward points or any other form of automated or manual activity designed to generate reward points through abnormal transaction patterns. It also covers all types of fraudulent or disruptive activities like spam, market manipulation etc.

“Illegal Activities” includes engaging in fraudulent activities such as unauthorized use of accounts, identity theft; bypassing security measures by hacking or breaking the system; using the Speed Services for unlawful purposes like money laundering or terrorism financing. Engaging in any of the illegal activities shall be deemed as fraudulent or exploitative towards the reward system.

3. Eligibility:

The user is required to be an adult under the applicable laws (i.e. 18 years and above for individual users or in accordance with the jurisdiction they reside in). There are certain criteria under which few services may or may not be applicable to some users. The exceptions are explicitly mentioned under each clause (i.e. wherever required). Clauses without any exceptions shall be applicable to all types of users at all times. Also, access of our services shall be restricted if the user is applying or using the services while being in prohibited regions or jurisdictions.

4. Account

Account Registration

To create an account the user is required to register by providing all the required data in accurate manner and complete the process as necessary. Inadequate data might lead to unavailability of the service. Subsequent to the registration, Login credentials are required to be kept confidential for which user is required to choose passwords that maintain high standards of strength as permitted by Speed.

Account Security:

The user is accountable for the transactions for their account and to maintain the confidentiality about their credentials. In case of any unauthorized access or violation of any data or credentials, users are required to immediately inform us via the contact details mentioned in this document or on the web app and wallet. Speed shall not be responsible for any unauthorized access resulting from the user’s failure to secure the account credentials.

Account Termination/Suspension/Deletion:

User can inform us via our contact details provided, if they wish to terminate or delete their account. However, user shall not be entitled for any claims, compensation or reimbursements in this scenario. Also, this does not exempt the user from paying any applicable fees, if that is due in any case.

Speed reserves the right to suspend or delete any account at its sole discretion if any fraudulent activity is detected; or if any account seems inappropriate/offensive; or in case of violation of these terms of use.

5. Indemnification:

The User agrees to indemnify, defend, and hold harmless Speed, its affiliates, officers, directors, employees, agents, partners, and licensors (collectively, “Indemnified Parties”) from and against any and all claims, damages, liabilities, losses, costs, and expenses (including, but not limited to, reasonable attorneys’ fees) arising from:

(a) the User’s use of the Speed platform,

(b) any violation of these Terms of Use,

(d) any infringement of third-party rights (including intellectual property rights),

(e) any unauthorized or illegal use of the platform, and

(f) any other actions, omissions, or misconduct that result in claims against Speed or its affiliates.

This indemnity obligation applies regardless of whether the claim is brought by a third party, and User agrees to provide Speed with prompt written notice of any such claims. Speed reserves the right, at its own expense, to assume exclusive defence and control of any matter subject to indemnification by User, and the User shall cooperate with Speed in the defence of such matter.

6. Privacy and Data Protection:

User may refer to the Privacy Policy to know how their data is collected, used and protected by Speed. All the conditions and scenarios for data sharing and the details regarding data retention are mentioned in the privacy policy of Speed. The privacy policy also outlines the rights of the users regarding data access, deletion and sharing.

7. Infringement clause:

This clause provides protection to the company from the consequences of unknowingly infringing on third-party rights and outlines the procedure for handling infringement claims, including compensation when applicable.

Speed operates in compliance with all applicable intellectual property laws, including copyrights, trademarks, patents, and trade secrets. The company asserts ownership over all intellectual property rights related to the platform, including website content, logos, software, and other proprietary materials.

Users are granted a limited, non-exclusive, non-transferable license to access and use the platform for personal, non-commercial purposes. User-generated content (e.g., posts, comments, reviews) remains the intellectual property of the user, subject to the company’s right to use, display, or distribute such content as specified in the platform’s terms.

In the event of an infringement claim concerning intellectual property rights, including patents, trademarks, copyrights, or trade secrets, users must notify the company promptly. The company will address valid claims and take necessary steps to resolve them, while ensuring protection from liability for unintentional infringements.

8. Updation of terms:

Speed reserves the right to update, amend or modify these terms and conditions from time to time. The revised version shall be posted on the website. The continued usage of services by the user will imply that the user has accepted the revised terms and conditions. Users are encouraged to review this page time to time to stay informed of any changes.

9. Contact Information:

User may contact us on [email protected] for any queries or questions related to the Services provided by Speed. All the relevant communications are required to be sent to this email address.

10. Severability Clause:

This clause implies that the remaining provisions shall remain in full force even in case of one or more terms and conditions deemed to become invalid or unenforceable under applicable laws. The invalidity or unenforceability shall not impact the validity of the other terms and conditions mentioned hereby.

11. Limitations of Liability:

Speed and any of its officers, employees and affiliates shall not liable for any direct or indirect damages, losses or claims arising from the use of the third-party services. This includes but not limited to transaction errors, delays, or any loss of funds, profits or data; incurred during the cryptocurrency purchase process. The responsibility for resolving any issues lies with the third-party providers, and users agree to hold Speed harmless from any consequential claims or damages.

12. Service Disruptions and Force Majeure:

Speed reserves the right to interrupt the service for maintenance, system updates and to make the necessary change in the ongoing services. Due to this, users can experience some delays, interruptions or outrage due. Speed will make reasonable efforts to notify users in advance about the same to the possible extent.

Under the applicable laws, Speed may also decide to suspend or discontinue its services. Under that case, Speed shall coordinate with its users to withdraw their relevant information so that the user’s rights are protected and shall compensate the user; if required.

Apart from this, in the case of Force Majeure events, the services might not be available to users. Speed cannot be held liable in this case. The events under force majeure includes but not limited to; the acts of God; wars or acts of terrorism; government actions or strike; cybersecurity attacks; disruptions in telecommunications or internet or any other cause beyond the reasonable control of Speed. Cryptocurrency transactions are subject to market risks and third-party service providers, and Speed shall not be liable for any obstructions caused by external factors.

13. Fees and Payments:

There is no fees for signing up for Speed either through web app or wallet. However, Speed provides some of the services on the basis of payment. The fees and other relevant details of any charges are described under the relevant service categories of Speed Web App | Speed Wallet. The applicable fees will be displayed at the time of the transaction. Speed reserves the rights to change the required fees or charges as deemed necessary.

14. Dispute Resolution and Governing Law:

These terms and conditions are governed in accordance with the laws of the State of Delaware, United States excluding its conflict of laws principles. Any disputes arising shall be resolved according to the Delaware Law (or another chosen jurisdiction, wherever applicable), subject to any local consumer protection laws that cannot be waived.

However, the above doesn’t apply to Users based in the European Union, United Kingdom, Switzerland, Norway or Iceland. These users are required to bring the dispute before their local courts as per the applicable local laws and standards. Other than this, the laws for consumer protection shall be taken into consideration for other counties except from the ones mentioned above.

For the users in any other jurisdiction, local consumer protection laws that cannot be waived will be taken into consideration, and disputes may be subject to the relevant courts or dispute resolution methods in those jurisdictions.

Disputes will be settled through binding arbitration, with Delaware as the preferred location unless otherwise specified. By using Speed’s services, users waive the right to participate in any class action, consolidated action, or representative action. Any disputes will be resolved on an individual basis through arbitration.

15. Compliance with Laws:

The user shall be in compliance with the applicable laws at all time while using the speed services. The applicable rules and regulations might get updated time to time. The user is expected to be in compliant with the changing laws. All the content posted on the website is in compliance with the applicable laws.

Users agree to comply with all relevant cryptocurrency regulations under the jurisdiction in which they operate, including those in Delaware (USA), as applicable to their activities. It is the user’s responsibility to stay compliant with applicable crypto regulations and standards.”

16. AML Compliance:

The purpose of the AML policy is to detect any suspicious or illicit activities and taking corrective measures to prevent and control them by applying the required techniques and defined rules in the policy. You can go through our detailed AML Policy. Users are required to provide the required details to comply with AML and KYC regulations, failure to which shall lead to restricted access to certain services.

17. Risk Disclosure:

By accessing the services of Speed, user shall agree and understand the risks associated with cryptocurrency. As cryptocurrency is volatile so there is always market risks involved, apart from this there are other risks involved such as regulatory risks, security risks, loss of funds due to any error, hacking or system failure etc. The user is required to acknowledge that they are responsible for their decisions and actions, Speed and its employees, officers, or affiliates shall not be held liable for any loss, damage, or other consequences arising from any sort of risk related to the cryptocurrency transactions. User is required to acknowledge that they fully understand the risks involved while using the services.

18. Disclaimers and Conditions:

Speed does not provide any warranty or guarantee the value or future performance of crypto market or currencies; the third-party policies or services. The services provided are on “as available” basis as per the applicable laws.
Speed may assign its rights and obligations to a third party without the consent from the User.
User may not reproduce, duplicate, copy, sell, resell or exploit any portion of Speed Web App | Speed Wallet and of its Service without the Owner’s express prior written permission granted either directly or through a legitimate reselling programme.