TERMS OF USE

Welcome to the Wolfo Crypto Platform!

By visiting, accessing, or using www.wolfo.io (“Website”) and associated application program interface or mobile applications (“Platform”), you (“Client”, “You” or “you”) consent to the Terms of Use (hereinafter, the “Terms”), so please read the entire Terms carefully. 

These Terms are legally binding agreement and understanding regarding the use of any or all of the Crypto Services, and any manner of accessing them, between You and the entity listed below (including its affiliates, “Wolfo”, “we”, “us”or “our”):

• Wolfo Sp. z o.o., Registration number: 0001135813, address: UL. STANISŁAWA LESZCZYŃSKIEGO 4 /29, 50-078 WROCŁAW, Poland for all Clients who are residents of EU and EEA. 
• Wolfo World SL, Registration number B75304022 , address: Calle Trajano 8, Jerez 35, Estepona, 29688, Malaga, Spain for all Clients who are residents of EU and EEA. 
• Wolfo S.R.L., Registration number: 3-102-903975, address: Forum 1, Edificio E, Piso 1, SAN JOSE, Costa Rica , for all other Clients eligible to access and use Wolfo’s Services. 

IMPORTANT: If you create or finance an Account on the Website (or through App), access or use the Platform or any of our Services (each stated below), you confirm that you have read, understood, accepted and fully comply with the entire Terms of Use and to the processing of your Personal Data in compliance with our Privacy Policy. If you do not wish to comply with these Terms of Use or do not accept them entirely or partially, you should immediately cease to use the Wolfo Services and the Platform. If you access or use any Wolfo Services and the Platform, you are bound by these Terms of Use. Wolfo reserves the right to amend or modify these Terms of Use at any time at its own discretion. Any amendments or modifications take effect within 5 days from the date they are published on the Website (www.wolfo.io).  

Some or all of the Website and Platform functions may be unavailable depending on the country of your nationality and/or residence.

By agreeing to this Terms you also certify that you pursue participation in blockchain- based networks as a part of your activity.

In addition to the Terms defined in other clauses of these Terms of Use, the following terms shall have the meaning defined below:

• Account means an account registered by the Client on the Platform (Website, or App) and through which the Client can access his1 accounts and use the services related to Crypto-assets.
• Confidential information means information that the Client receives or learns as a result of using of the Services, or otherwise as a result of his/her access and use of the Platform, regardless of whether or not such information is designated as confidential, provided that such the information is not generally known to the public and/or openly published on the Website.
• Client means any Person, who uses the Website or Platform, is a holder of the Account and agreed with this Terms of Use.
• Crypto-assets means a Crypto representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology.
• Deposit means an operation involving a transfer of Funds to the Client’s Account.
• External Account means any Crypto-asset account: (i) from which you may load Crypto-asset into your Account, and (ii) to which you may push Crypto-asset from your Account.
• Financial Account means any financial account of which you are the beneficial owner that is maintained by a third party outside of the Services, including, but not limited to third-party payment service accounts or accounts maintained by third party financial institutions.
• Fees means any rewards, charges and/or commissions paid to Wolfo by the Clients, which are established by Wolfo.
• Fiat means government-issued currency, that is designated as legal tender in its country of issuance through government decree, regulation, or law.
• Funds means Fiat and/or Crypto-assets, which are placed into the Account and used during the execution of Transactions.
• Order means every Client’s act on the Account on the basis of which the Company is to manage the Client’s Funds.
• Representatives means a Person’s officers, directors, members, managers, employees, agents and/or any individuals authorized to act on behalf of the Person in the appropriate matters by law, documents of the entity, power of attorney or similar document.
• Personal Data means any information relating to an identified or identifiable Client (natural person) within the meaning of the GDPR.
• Person means an individual or legal entity.
• Platform means associated application program interface or mobile applications designated for exchange/trading of Crypto-assets, accessible by Client via the Website and/or via other means, specifically created by Wolfo for that purpose (if applicable).
• Services means all services and any service provided by Wolfo, as indicated in Article 1 of this Terms.
• Third-party provider means a third-party software, information and/or technology provider, whose products, information or services might assist Wolfo in providing the Services to the Client.
• Transaction means a transaction of Funds entered into (and/or executed, completed, closed, etc.) through the Client’s Account.
• Website means the website: www.wolfo.io .
• Withdrawal means an operation involving a transfer of Funds from the Client’s Account of/to the External Account or Financial Account.

The headings (of articles/sections) of the Terms are for convenience only and shall not in any way affect the meaning or interpretation of the Terms.

1Remark: the masculine gender used in this document includes the feminine and neuter genders

3.1. We provide you with a simple and convenient Website and Platform for an exchange of Crypto-assets for Fiat currency and vice versa; exchange of one type of Crypto-assets to another at the established exchange rates, as well as Crypto-assets wallet services.

3.2. Wolfo carries out its services carefully and reliably. However, unavoidable interruptions, such as necessary maintenance work, can occur; such interruptions lie outside our control. Wolfo will, however, endeavor to correct any disturbance or disruption, as quickly as possible.

3.3. The range of services available to you will depend in part upon the country of which you are a resident and from which you access to our services.

3.4. Based on this Terms, Wolfo may also provide other services, which are defined in this Terms and/or will be available on the Website or on the Platform.

3.5. Wolfo also reserves the right to choose markets and jurisdictions in which it operates, and may also restrict or refuse provision of the Services in some countries at its discretion.

3.6. We may, in our sole discretion and without liability to you, with or without prior notice and at any time, decline, modify or discontinue, temporarily or permanently, all or any portion of our Services.

4.1. You can act only on your own behalf or (in case of using the corporate Account) on behalf of an entity/other organization, which You represents and cannot use the Services as an agent, intermediary or broker for another Person, organization, entity.

4.2. At the point of registering the account, You represent and warrant that you:

• have reached the age of 18 year old;
• have not previously been suspended from using the Services;
• is an individual or legal entity or other organization with full legal capacity and capability and sufficient authority to enter into this Terms;
• currently do not have another Account registered on the Platform/Website;
• are not located in, or is not a resident of any Restricted Locations; 
• you are not a national or resident of the USA; and
• will not use the Services if any applicable laws in your jurisdiction prohibit you from doing so. 

4.3. Before accessing and using the Services offered by Wolfo You must assure yourself that the use of the Wolfo Services, Platform, Website is allowed in the country of Your citizenship/residence or the country from which You accesses the Services, Platform, Website, as well as check if there are any possible legal limitations and/or restrictions regarding the access and use of the Services, Platform, Website. It is Your sole responsibility to follow all the applicable laws and regulations and comply with the restrictions and prohibitions of Your country of citizenship/residence and/or country from which You accesses Wolfo Services, Platform, Website.

4.4. Wolfo takes no liability for the access and use of the Services, Platform and Website by the Person who is the citizen/resident or accesses the Services, Platform and Website from the country in which the access to and use of Wolfo Services, Platform and Website is prohibited by law or where there are any other limitations and restrictions of the access and use of the mentioned above.

4.5. We draw the Client’s attention to the fact that the use of the Services, the Website and the Platform is governed by the international compliance requirements and requirements of economic sanctions. By sending, receiving, buying, selling or storing Crypto-assets through the Platform, the Client agrees to comply with these requirements. The Client is not allowed to perform Transactions on the Platform or use any Services if:

• the Client is in or under control or are a citizen or resident of FATF blacklisted countries and/or countries subject to the United Nations Security Council Sanctions List, the European Union or HM Treasury’s financial sanctions regimes, the United States embargo (a "Sanctioned Country"), or if the Client is a Person on EU or HM Treasury’s financial sanctions regime or the U.S. Treasury Department’s Specially Designated Nationals List or the U.S. Commerce Department’s Denied Persons List (a “Sanctioned Person”); or
• You is a citizen and/or a resident of the United States of America or a legal entity whose authorized capital is owned by U.S. citizen and/or resident; or
• You is a Person, who does not meet any Client due diligence/compliance standards, requests or requirements of Wolfo regarding compliance of the Client and who otherwise belongs to a high-risk group, including, but not limited to, the factors listed above.

4.6. Wolfo prohibits the provision of the Services in certain jurisdictions (hereinafter in the text referred to as “Restricted Locations”) in accordance with our regulatory obligations.

4.7. Restricted Locations means the following jurisdictions Abkhazia, Afghanistan, Albania, Angola, the Bahamas, Barbados, Republic of Belarus, Botswana, Burundi, Burkina Faso, Cambodia, Cayman Islands, Central African Republic, the Democratic Republic of Congo, the Republic of Côte d'Ivoire, Crimea, Cuba, Democratic People's Republic of Korea (DPRK), the State of Eritrea, The Gaza Strip, Republic of Ghana, Gibraltar, the Republic of Guinea-Bissau, Haiti, Hawaii (state of the US), the Islamic Republic of Iran, the Republic of Iraq, Jamaica, Jordan, the Republic of Lebanon, the Republic of Liberia, the State of Libya, the Republic of Mali, Morocco, the Republic of Mauritius, Mongolia, Myanmar, the Republic of Nicaragua, Federal Republic of Nigeria, Northern Cyprus, the Islamic Republic of Pakistan, the State of Palestine, the Republic of Panama, Russian Federation, Sahrawi Arab Democratic Republic, the Republic of Sierra Leone, the Republic of Senegal, the Federal Republic of Somalia, South Ossetia, the Republic of South Sudan, the Republic of the Sudan, the Syrian Arab Republic, Trinidad and Tobago, the Republic of Uganda, Vanuatu, the Bolivarian Republic of Venezuela, The West Bank, the Republic of Yemen, the Republic of Zimbabwe.

4.8. Information about the Client (provided by the Client) must not contain misleading, untruthful or fraudulent information. Provision of misleading/untruthful/ fraudulent information or submitting of false documents (including fraudulent identification documents) is prohibited. In case if Wolfo doubts that the Personal Data is correct, up-to-date or complete, Wolfo is entitled to refuse the Client’s access to the Services (all or part) and/or suspend the Client’s Account at our own discretion.

4.9. In case of provision of untruthful/ fraudulent information or submitting of false documents Wolfo reserves the right to permanently terminate the Client’s Account.

4.10. The Client is not entitled to sell, lend, share or otherwise transfer Client’s Account or any data necessary to access Client’s Account to third parties. The Client is responsible for maintaining security and control over all of his logins, passwords, two-factor authentication codes or any other codes or data the Client uses to access the Service. Wolfo is not responsible for any losses incurred by the Client due to unauthorized access to the Client’s Account, access of third parties to the Client’s password/Account. The Client must immediately notify Wolfo of the loss of the password and/or Personal Data of Account or illegal access of third parties to Account.

4.11. Wolfo may require You to confirm Your identity to access the Service. Verification may include verification of the Client’s cell phone number, identity documents and residence address. Wolfo reserves the right to demand additional real-time/online video verification.

5.1. Wolfo takes all necessary measures and uses the best standards to comply with all the applicable laws and regulations regarding combating Money Laundering and Financing of Terrorism. Wolfo will use reasonable efforts to detect and prevent persons involved in any criminal activity in any jurisdiction from using the Website and Platform.

5.2. In order to avoid and reduce possible risks of involving Wolfo in any type of illegal activity, Wolfo is acting in accordance with AML/CFT Policy and in conformity with an internal Anti-Money Laundering, Countering Financing of Terrorism and Know Your Customer procedures (hereinafter - the “AML/CFT procedures”).

5.3. If we have reasons to believe that there is any suspicious activity (any third party complaints on any suspicious activity) on the Account or conducted by the Client and/or the Client wishes to perform any suspicious Transaction, Wolfo may, at its sole discretion: refuse provision of the Services; request additional information confirming the legitimate nature of the Transaction such as additional KYC verification, proof of funds and/or photo/video verification etc.; block the Client’s access to his/her Account; terminate the business relationship with the Client without prior notice to the Client.

5.4. By agreeing to this Terms, Your confirms that You own Fiat and/or Crypto-assets are legally.

5.5. We will not provide Services to the Clients – citizens/residents/entities of countries blacklisted by the FATF, sanctioned Persons, etc.

6.1. Please refer to our Privacy Policy for information about how we collect, use and share your Personal Data. We are subject to various legal and regulatory obligations imposed by the laws and supervisory authorities, anti-money laundering laws, corporation laws, privacy laws. These obligations may require us to process certain personal data for identity verification, payment processing or other purposes not disclosed herein.

7.1. Client’s Account information and security. In order to engage in the Services, you must create an Client’s Account and provide any requested information. When you create a Client’s Account, you agree to: (a) create a strong and unique password that you do not use anywhere else; (b) provide accurate and truthful information; (c) maintain and promptly update your Client’s Account information; (d) maintain the security of your Client’s Account by protecting your password and restricting access to your Client’s Account; (e) promptly notify us if you discover or otherwise suspect any security breaches related to your Client’s Account; and (f) take responsibility for all activities that occur under your Client’s Account and accept all risks of any authorized or unauthorized access to your Client’s Account, to the maximum extent permitted by law.

7.2. To create Account and pass verification (KYC), the Client has to go through all the registration procedures and provide to Wolfo all necessary information (including necessary Personal Data, information, necessary for verification/KYC), as well as accept terms and conditions of this Terms (including Privacy Policy, Fees). In addition to the provision of this information and for the purposes of complying with the world industry standards for Personal Data storage, the Client gives us consent and permission to keep records of such information throughout the term of the Account, as well as for 5 (five) years after the closure of the Client’s Account. The Client also gives consent and allows us to send requests, directly or through third parties, which will be necessary to confirm the Client’s identity or protect the Client and/or us from financial and other crimes, such as fraud. In case of successful Client verification (KYC) identification, the Client is given full access to the Account.

7.3. If there is any reasonable doubt that the information the Client provides is incorrect, untruthful, outdated or incomplete, Wolfo is entitled to send the Client a notification requesting corrections, delete the relevant information directly and, depending on the circumstances, terminate the Client’s access to all or part of the Services.

7.4. Wolfo may refuse registration and creation of Account at its discretion.

7.5. Unless otherwise expressly agreed between Wolfo and the Client in writing, each Client may register only one Account and cannot use two or more Accounts (multi-accounts). 

7.6. In case if Client creates multi-accounts in violation of this clause, we are entitled to terminate (close) second by the date of creation and all subsequent Client’s multi-account(s). As a penalty for the said violation Wolfo has the right to charge a full amount of Funds from the balances of the Client’s second and subsequent multi-account(s).

7.7. The creation of accounts with Wolfo on behalf of third parties or the transmission of the Client’s Account to third parties is strictly prohibited and may be prosecuted.

7.8. It is strictly forbidden to use the Client’s Account and/or Services for any kind of illegal purposes.

7.9. If Wolfo has reasonable suspicion that an Client’s Account is used to receive the proceeds of criminal activity, including but not limited to Fiat and/or Crypto Assets, and/or Client’s Account and/or Services is used for any other kind of illegal purposes Wolfo reserves the right to close the Client’s Account and to freeze the Funds pending clarification by government authorities. Wolfo reserves the right to cooperate with the authorities and to provide them with all data required for the purposes of an initiated investigation into any violations

7.10. The Client is solely responsible for any losses or expenses incurred while using Wolfo Services if the Client cannot be contacted through the e-mail and/or via the address provided to Wolfo. By entering into this Terms, the Client acknowledges and agrees to update all the provided information in case of any changes.

7.11. The Account may only be used by the Person, in whose name it was registered. Wolfo reserves the right to temporarily restrict the use, freeze or close the Account if there are suspicions of the use thereof by a Person, who is not the Person, in whose name the Account was registered unless otherwise agreed by the Parties in writing. The Client must immediately notify Wolfo of the unauthorized use of the Client’s name, password or any other attempts of unauthorized access to the Account if the Client suspects or becomes aware of such unauthorized use.

7.12. You agree that Your Account Information is confidential and You will not disclose such information to third parties. The Client also agrees to be solely responsible for taking necessary security measures to protect the Account and the Account Information and consequences of non-compliance with such measures.

7.13. The Client must ensure security measures and safety of the password and other Account details (credentials) to prevent disclosure thereof to third parties; wherein, the Client independently determines the best procedure for storing such information and Personal Data and also takes measures to prevent illegal or unauthorized disclosure and use thereof.

7.14. You agree to:

• immediately notify Wolfo if You become aware of any unauthorized use of the Account Information by any Person, as well as any other breach of the security rules;
• strictly comply with the mechanisms and procedures in force on the Website concerning the security rules, identity verification, Depositing, Withdrawal, Transactions of Funds; and
• perform the appropriate actions to exit the Website at the end of each visit.

7.15. Wolfo is not liable for any losses or damage arising out of any unauthorized use by You or any third party (regardless of whether it was authorized by the Client for such use) of the Account using Your login credentials (including received as a result of a phishing attack on the Client).

7.16. Wolfo created a sophisticated complex system of internal security, control, monitoring, in which all actions of employees are logged and recorded. In addition, the system makes it impossible for our employees to receive the Client’s credentials. You agree that unauthorized access only to Your Account (not to the wallet of the Platform) should be presumed as a result of a phishing attack on You or as a result of the Yours negligence.

8.1. Conditions and Restrictions. We may, at any time and in our sole discretion, impose limits on  the exchange amounts permitted via the Services or impose any other conditions or restrictions upon your use of the Services without prior notice. 

8.2. Accuracy of Information. You must provide any information required when creating the Client’s Account or when prompted by any screen displayed within the Services. You represent  and warrant that any information you provide via the Services is accurate and complete. Personal data, including name, last name, address, email, phone number, or any other changes regarding personal data and documents which changes during the use of Services must be immediately updated and submitted to Wolfo.

8.3. Taxes. It is your responsibility to determine what, if any, taxes apply to the exchange operations you complete via the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that Wolfo is not responsible for determining whether taxes apply to your exchange operations or for collecting, reporting, withholding or remitting any taxes arising from any exchange operations.

9.1. Funding your Client’s Account. In order to complete an exchange operation via the Services ,you need to fund your Client’s Account.

9.2. Funding your Client’s Account with Fiat. You may load Fiat to your Client’s Account using your selected payment method(s): (a) via bank transfer on Wolfo’s bank account specified on the Website/Mobile App mentioning your Client’s Account ID number in the aim of the payment or (b) via payment service provider approved by the Wolfo.

9.3. You may be charged fees by the payment service provider and/or the bank you use to fund your Client’s Account. Wolfo is not responsible for any payment service provider and/or the bank fees or for the management and security of the transaction. You are solely responsible for your use of any payment service provider and/or the bank and you agree to comply with all terms and conditions applicable  to payment service provider and/or the bank you use to fund your Client’s Account. The timing  associated with a load transaction will depend in part upon the performance of third parties responsible for maintaining the applicable payment service provider and/or the bank and Wolfo makes no guarantee regarding the amount of time it may take to load Fiat into your Client’s Account.

9.4. Funding your Client’s Account with Crypto-assets. You may load Crypto-assets to your Client’s Account using one of the approved External Accounts identified via the Services.

9.5. You may be required to verify that you control the External Account that you use to load Funds to your Client’s Account. You may be charged fees by the External Account you use to fund your Client’s Account. Wolfo is not responsible for any External Account fees or for the management and security of any External Account. You are solely responsible for your use of any External Account, and you agree to comply with all terms and conditions applicable to any External Account. The timing associated with a load transaction will depend in part upon the performance of third parties responsible for maintaining the applicable External Account, and Wolfo makes no guarantee regarding the amount of time it may take to load Crypto-assets into your Client’s Account.

9.6. Withdrawal of/to an External/Financial Account. Wolfo combines your Fiat balance with the balances of other Clients and holds it in Wolfo’s bank accounts. Wolfo also combines your Crypto-assets balance with the balances of other Clients and holds it in Wolfo’s Crypto-assets wallet. 

9.7. Provided that you have added your External/Financial account details to your Client’s Account and the balance of Funds in your Client’s Account is greater than any minimum balance requirements needed to satisfy any of your open transactions, you may withdraw any amount of Fiat/Crypto-Assets, up to the total amount of Funds in your Client’s Account in excess of such minimum balance requirements, from your Client’s Account to an External/Financial Account, less any fees charged by Wolfo for such transactions (as described in the Fee at the time of your request to push Fiat/Crypto-assets to an External/Financial Account). When you request that we push Fiat/Crypto-assets to your External/Financial account from your Client’s Account (withdrawal), you authorize Wolfo to execute such transaction via the Services. Wolfo will process the withdrawal of Fiat/Crypto-assets to your External/Financial Account from your Client’s Account in accordance with your instructions. You are solely responsible for ensuring that any withdrawal instructions provided to Wolfo are complete and correct and you accept and agree that under no circumstances Wolfo be under any obligation to reverse or amend any such withdrawal. You accept and agree that Wolfo provides no guarantee in relation to the withdrawal processing period. Withdrawals to the account  of any third party are expressly prohibited.

9.8. Rejected Transactions. In some cases, the External/Financial account may reject your Crypto-Assets/Fiat or may otherwise be unavailable. You agree that you will not hold Wolfo liable for any damages resulting from such rejected transactions.

9.9. The use of anonymous accounts for Crypto-Assets/Fiat transactions is strictly prohibited.

10.1. Placing an Exchange Order. When you submit a new exchange order via the Services, you authorize Wolfo to execute a transaction in accordance with such Order on a spot basis and charge you any applicable Fees.

10.2. The Client’s Account will indicate all the costs related to the purchase/sell of the Crypto-assets included in the exchange order. The exchange order is considered approved if you, at the time of placing the order, indicate that you agree to these Terms and the conditions for Services by pressing the button “Confirm the Order”. Before confirming any exchange Order, you must ensure that the amount of Fiat/Crypto-assets to be converted is correct and that you agree to the quoted exchange rate.

10.3. Exchange rate. Exchange rates are established by the management of the Wolfo and are published on the Website/Mobile App. The Wolfo has the right to independently and unilaterally change exchange rates of Crypto-assets and corresponding fees at any time by placing information on these changes on the Website. Such changes and modifications will become effective upon publication on the Website.

10.4. Exchange rates shown on the Website are indicative. Particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any Crypto-Assets, the actual market rate at which an exchange order will be executed may be different from the rate indicated on the Website at the time of your order. You understand that we are not liable for any such price fluctuations. The exchange rate applicable to the transaction will be notified by the Wolfo to you in the exchange order, where you shall expressly announce to the Wolfo whether or not you agree to make the deal. Thus, when buying and selling Crypto-assets a rate is used, which is current after mutual exchange rate reconciliation just before the transaction is executed.

10.5. Cancellation of order. Once your order has been executed, you may not change, withdraw or cancel your authorization for Wolfo to complete such transaction.

10.6. The exchange order can be cancelled by Wolfo in the event of an emergency, if for certain reason there is no possibility to exchange the Crypto-assets, in which case the full amount paid will be returned immediately to you. Possible reasons for the cancellation of an order are (a) technical difficulties or damage in the IT systems that result in an incorrect display of the Crypto-asset price or availability status which does not reflect the actual one and (b) an emergency situation on the world cryptocurrency market, such as rapid price fluctuations, or a downturn in the supply. You understand the above and hold Wolfo harmless in case of a cancellation of a placed order.

10.7. In the event of a market disruption or Force Majeure event, Wolfo may do one or more of the following: (a) suspend access to the Services; or (b) prevent you from completing any actions via the Services, including closing any open orders. Following any such event, when trading resumes, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.

10.8. Execution of the exchange order. We will attempt to deliver Fiat/Crypto-assets to you as promptly as possible, Fiat/Crypto-assets may be debited from your Client’s Account before the status of your Fiat/Crypto-assets transaction is shown as complete and Fiat/Crypto-assets is delivered to your Client’s Account.

10.9. Insufficient Funds. If you have an insufficient amount of Fiat/Crypto-assets in your Client’s Account to complete an exchange order via the Services, we may cancel the entire exchange order or may fulfill a partial exchange order using the amount of Fiat/Crypto-assets currently available in your Client      Account, less any fees owed to Wolfo in connection with our execution of the exchange order.

10.10. Independent relationship. You acknowledge and agree that: (a) Wolfo is not acting as your broker, intermediary, agent, or advisor or in any fiduciary capacity, and (b) no communication or information provided to you by Wolfo shall be considered or construed as advice.

10.11. Wolfo reserves the right to refuse to process or to cancel any pending order.

11.1. Fluctuation in value and price. The value of Crypto-assets depends on the fluctuation in value and price. The investment in Crypto-assets is highly speculative with a risk of loss of the capital invested in Crypto Assets. Therefore Crypto-assets is only suitable for Clients, who can accept a loss of the invested capital.

11.2. Internet transmission risks. You acknowledge that there are risks associated with utilizing an Internet-based system including, but not limited to, the failure of hardware, software, Internet connections, malware affecting the Website and/or Services-related software. You acknowledge that Wolfo shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Services, howsoever caused.

11.3. Other risks. Wolfo is not responsible for any losses, damages or claims arising from events falling within the scope of: (1) mistakes made by the Client of Services, including forgotten passwords, payments sent to wrong Crypto-Assets/Fiat account addresses, and accidental deletion of the Client’s Account; (2) security problems experienced by the Client of Services, including unauthorized access to the Client’s Account; (3) actions or inactions of third parties and/or events experienced by third parties, e.g., bankruptcy of service providers, information security attacks on service providers, and fraud conducted by third parties.

11.4. Information published on the Website. The Website provides information and material of a general nature. Wolfo runs the Website and Platform with the best of their knowledge and belief. Nevertheless, Wolfo assumes no responsibility and accepts no liability whatsoever, regarding the accuracy of information given on their website. Clients are not authorized and nor should rely on the Website for business advice or advice of any kind. In no way the Wolfo is responsible  for the actions, decisions, or other behavior taken or not taken by you in reliance upon the Website, the Mobile App or the Services.

11.5. Wolfo does not store, safeguard, or administer Fiat currency on behalf of you.

12.1. Amount of Fees. You agree to pay the Fees for Orders completed via our Services (“Fees”) as made available via the Fees and Limits, which we may change from time to time. Changes to the Fees are effective as of the effective date indicated in the posting of the revised Fees to the Services, and will apply prospectively to any Orders that take place following the effective date of such revised Fees.

12.2. Third-Party Fees. In addition to the Fees, your External/Financial Account may impose fees in connection with your use of your designated External/Financial Account via the Services. Any fees imposed by your External/Financial Account provider will not be reflected on the transaction screens containing information regarding applicable Fees. You are solely responsible for paying any fees imposed by an External/Financial Account provider.

12.3. Payment of Fees. You authorize us, or our designated payment processor, to charge or deduct your Client’s Account for any applicable Fees owed in connection with exchange orders you complete via the Services.

13.1. Consent to Electronic Delivery. You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures (collectively, “Communications”) that Wolfo provides in connection with your Client’s Account and/or use of the Wolfo Services. You agree that Wolfo may provide these Communications to you by posting them via the Account, by emailing them to you at the email address you provide. You should maintain copies of electronic Communications by printing a paper copy or saving an electronic copy. You may also contact us through support to request additional electronic copies of Communications or, for a fee, paper copies of Communications (as described below).

13.2. Hardware and Software Requirements. In order to access and retain electronic Communications, you will need a computer with an Internet connection that has a current web browser with cookies enabled and 128-bit encryption. You will also need to have a valid email address on file with Wolfo and have sufficient storage space to save past Communications or an installed printer to print them.

13.3. Withdrawal of Consent. You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to support. If you decline or withdraw consent to receive electronic Communications, Wolfo may suspend or terminate your use of the Services.

13.4. Requesting Paper Copies. If, after you consent to receive Communications electronically, you would like a paper copy of a Communication we previously sent you, you may request a copy within 30 days after the date we provided the Communication to you by contacting support. In order for us to send paper copies to you, you must have a current street address on file with Wolfo. Please note that Wolfo operates exclusively online and it is very burdensome for us to produce paper copies of Communications. Therefore, if you request paper copies, you understand and agree that Wolfo may charge you a processing fee, in the amount described in the Fees and Limits, for each page of Communication requested.

13.5. Updating Contact Information. It is your responsibility to keep your email address on file with Wolfo up to date so that Wolfo can communicate with you electronically. You understand and agree that if Wolfo sends you an electronic Communications but you do not receive it because your email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Wolfo will be deemed to have provided the Communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add Wolfo to your email address book so that you will be able to receive the Communications we send to you. You can update your email address, mobile phone number or street address at any time by sending such information to support. You can update your password at any time by logging into your Client’s Account. If your email address becomes invalid such that electronic Communications sent to you Wolfo are returned, Wolfo may deem your Account to be inactive, and you may not be able to complete any transaction via our Services until we receive a valid, working email address from you. If you fail to disclose the change of an email, the written notifications intended for you are considered to be legally delivered, if they are sent to  the last designated email address. Wolfo is in no way liable for any damages as a result of out-of-date contact information.

14.1. If for any reason Wolfo is holding Funds in your Client’s Account on your behalf and Wolfo is unable to return your Funds to your designated External/Financial Account after a period of inactivity, then Wolfo may report and remit such Funds in accordance with applicable legislation.

15.1. When accessing or using the Services, you agree that you will not violate any law, contract, intellectual property or other third-party right or commit a tort, and that you are solely responsible for your conduct while using our Services. Without limiting the generality of the foregoing, you agree that you will not:

• Use our Services in any manner that could interfere with, disrupt, negatively affect or inhibit other Clients from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner;
• Use our Services to pay for, support or otherwise engage in any illegal activities; fraud; money-laundering; or terrorist activities; or other illegal activities;
• Use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access our Services or to extract data;
• Use or attempt to use another Client’s account without authorization;
• Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
• Develop any third-party applications that interact with our Services without our prior written consent;
• Provide false, inaccurate, or misleading information;
• Encourage or induce any third party to engage in any of the activities prohibited under this Section.

16.1. Unless otherwise indicated by us, all copyright and other intellectual property rights in all content and other materials contained on our website or provided in connection with the Services, including, without limitation, the Wolfo or Wolfo logo and all designs, graphics, pictures, information, data, software, sound files, other files and the selection and arrangement thereof (collectively, “Wolfo Materials”) are the proprietary property of Wolfo or our licensors or suppliers and are protected by international copyright laws and other intellectual property rights laws.

16.2. We hereby grant you a limited, nonexclusive and non-sublicensable license to access and use the Wolfo Materials for your personal or internal business use. Such license is subject to these Terms and does not permit (a) any resale of the Wolfo Materials; (b) the distribution, public performance or public display of any Wolfo Materials; (c) modifying or otherwise making any derivative uses of the Wolfo Materials, or any portion thereof; or (d) any use of the Wolfo Materials other than for their intended purposes. The license granted under this Section will automatically terminate if we suspend or terminate your access to the Services.

17.1. You can terminate this Terms with Wolfo and close Your Account at any time after having settled all incomplete Transactions (the Client participates in), having paid applicable Fees and executed all other obligations, which either directly or indirectly arose from Your use of the Services (the Website/Platform).

17.2. Notwithstanding any other provision of this Terms, the Client confirms that Wolfo is entitled to restrict the Client’s access, set limits on the Client and/or temporarily suspend the Account and/or the Client’s access to the Website, the Platform, the Services (including the ability to place the Orders and perform the Transactions), in whole or in part, or to refuse to enter into, to participate in any or all Transactions, to block the Funds on the Account if in Wolfo’s sole discretion any of the following circumstances occur or Wolfo considers such circumstance to be likely to occur or if any of the following circumstances is possible in the opinion of Wolfo:

• complete or partial failure of the Website and/or the Platform, including failure of any of the technologies constituting the Website and/or the Platform or any communication channels within the Website and/or the Platform or between the Website and/or the Platform and any other Person or counterparty or any other circumstance, when Wolfo considers, at its discretion, that Wolfo is not able to provide access to the Website and/or to the Platform;
• a breach in the security of the Website and/or the Platform;
• when there is any suspicion of a breach or an actual breach of this Terms, Privacy Policy or any applicable laws and regulations;
• in order to comply with law (including, but not limited to, a ban or restriction of any Crypto-assets);
• detection of unusual and/or suspicious activity on the Account; detection of unauthorized access to the Account;
• in connection with the procedural actions of governmental authorities in relation to a specific Account and/or the Client, criminal investigation or any legal process; by a court decision or decision of a governmental authority; if the Client’s Account and activities related to it have become the subject of judicial and administrative proceedings;
• in connection with market conditions or conditions in relation to a particular Crypto-assets or pair, which justifies this as a necessary measure in the opinion of Wolfo.

17.3. Any action taken by Wolfo in accordance with this section will continue for a term determined at the discretion of Wolfo. The Client agrees that any evasion of or any attempt to evade access restrictions, limits or temporary suspension in accordance with this section of this Terms constitutes a material breach of this Terms; and taking any action in accordance with this section is a right and not an obligation of Wolfo.

17.4. In addition, the Client acknowledges and agrees that in case of any of the circumstances listed in this section, Wolfo may cancel the Transaction the Client has previously initiated or performed using the Platform.

17.5. The Client agrees that Wolfo is entitled to immediately suspend the Account, block any Funds on the Account, to suspend the access to the Services (to the Platform) and/or terminate the Account, in the following cases:

• We have detected on the Account activity related to money laundering, financing of terrorism; breaking by the Client the applicable Anti-Money Laundering, Countering Financing of Terrorism Laws and regulations;
• the Client’s Account and activities related to it have become the subject of criminal investigation;
• using the Account by UN, EU or USA sanctioned person;
• when there is an actual breach by the Client of this Terms, Privacy Policy or any applicable laws and regulations;
• Wolfo is required to do so by a court order or an order of an authorized governmental authority.

17.6. In case of termination of this Terms due to fraudulent activity, breaking Anti-Money Laundering, Countering Financing of Terrorism Laws and regulations, a material breach by the Client of this Terms (including, but not limited to using the Services by sanctioned person) or within the investigation of fraudulent Transactions and combating money laundering, Wolfo is entitled to cancel the data of the Client’s Account and/or to impose (and to charge) a fine in the amount of the entire balance of Funds on the Client’s Account.

18.1. Except as expressly provided to the contrary in a writing by us, our Services are provided on  an “As is” and “As available” basis. We expressly disclaim, and you waive, all warranties of any kind, whether express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, title and non-infringement as to our Services, including the information, content and materials contained therein.

18.2. You acknowledge that information you store or transfer through our Services may become irretrievably lost or corrupted or temporarily unavailable due to a variety of causes, including software failures, protocol changes by third party providers, internet outages, force majeure event or other disasters including third party DDOS attacks, scheduled or unscheduled maintenance, or other causes either within or outside our control. You are solely responsible for backing up and maintaining duplicate copies of any information you store or transfer through our services.

18.3. You understand and acknowledge that your personal data and identifiers may be shared with duly authorised third parties, due to legal obligations such as prevention of crimes and/or to provide the Service requested by You.

19.1. Wolfo does not guarantee that any Order will be executed, accepted, recorded or remain open. Except for the express statements set forth in this Terms, the Client hereby acknowledges and agrees that he/she has not relied upon any other statement or understanding, whether written or oral, with respect to use and access of the Services, the Platform, the Website.

19.2. Without limiting the foregoing, the Client hereby understands and agrees that Wolfo will not be liable for any losses or damages arising out of or relating to:

• any inaccuracy, defect or omission of Crypto-assets price data;
• any error or delay in the transmission of such data, interruption in transmitting/obtaining any such data;
• any damages incurred by another Client’s actions, omissions or violation of this Terms.

The disclaimer of implied warranties contained herein may not apply if and to the extent it is prohibited by the applicable law.

19.3. To the maximum extent permitted by the applicable law, in no event will Wolfo’s affiliates, Wolfo’s and its affiliates’ shareholders, owners, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors be liable for any incidental, indirect, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue, profits or other benefits) arising out of or in connection with the Services, the Platform, the Website, any performance or non-performance of the Services, the Platform, the Website, or any other product or other item provided by or on behalf of Wolfo.

19.4. Notwithstanding the foregoing, in no event will the liability of Wolfo, its affiliates and their shareholders, owners, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors arising out of or in connection with using the Services, the Platform, the Website, any performance or non-performance of the Services, the Platform, the Website, or any other product or other item provided by or on behalf of Wolfo or its affiliates exceed the amount of Fees paid by you to Wolfo under this Terms in the six-month period immediately preceding the event giving rise to the claim for liability.

19.5. Without prejudice to the foregoing, Wolfo makes no representations or warranties regarding the timeliness, accuracy or completeness of any data or other information on the Platform or results the Client receives when accessing or using the Platform. Wolfo does not bear any responsibility for claims related to any software, technology or equipment, the Platform, existing technology, data or any other information, materials, Crypto-assets  or the fact that the Platform meets the Client’s requirements or that access to it must be continuous, timely, safe, complete, accurate, free from errors and defects.

19.6. The Client acknowledges that the software and equipment he/she uses may not support certain functions of the Platform.

19.7. Neither Wolfo nor any third party providing information on the Website, the Platform recommends, endorses, protects or acts as a guarantor of any Crypto-assets or Transaction that is present or performed on the Platform. The Client acknowledges significant risks associated with the Crypto-assets  markets. Wolfo does not provide financial, tax, legal, investment or other recommendations. Any information on prices, quotes, forecasts, profitability estimates or historical indicators is intended for informational purposes only and does not guarantee future results and is not an offer to buy or sell, or a recommendation to buy or sell any Crypto-assets or to perform any Transaction. The Client agrees that the Platform is not and cannot be considered the main reason for his/her decision to perform any Transaction, and Wolfo is not and cannot be considered the Client’s financial consultant or fiduciary trustee. By entering into this Terms, the Client acknowledges that any use of the data or other content of the Platform is solely at the Client’s responsibility.

19.8. The Client understands and agrees that, provided that we have taken reasonable precautions, provided our Services properly and performed all of our obligations under this Terms, Wolfo will be exempted from the liability for any direct or indirect losses, any lost profit, data, ability to use the Platform, operational downtime, loss of business reputation, costs on the replacement of the Services or downtime incurred to the Client, the Client’s affiliates and any other Person as a result of execution of or in connection with this Terms, even if the Client, the Client’s affiliate or any other Person had not previously been notified of the possibility of such losses, etc.

19.9. Nothing in this Terms shall and can be construed as excluding or limiting the liability of any of the parties for:

• fraud or intentional misrepresentation;
• other actions, the liability for which cannot be excluded or limited by virtue of the law.

19.10. The Platform may contain links to third-party(ies) websites and direct the Clients to other websites. Such websites are not under control of Wolfo; furthermore, publication of links does not mean that Wolfo approves such websites. Wolfo does not provide any warranties or representations and does not bear any responsibility with regard to the accuracy, content, terms of use, privacy policy, legality, reliability, perception, relevance, compliance with moral standards and other aspects related to such websites.
External websites have separate and independent terms and conditions of use and related policies. We ask the Clients to familiarize themselves with the rules, policies, terms and conditions of each website they visit. The Client must take precautions to make sure that everything he/she chooses to use is free from viruses, worms, Trojan horses and other malware.

19.11. Performing an operation, the Client agrees to and independently bears all risks of Transactions. No claims regarding cancellation of operations can be filed against Wolfo. Unless otherwise prescribed by this Terms for special cases, Wolfo does not accept or process applications for the return and/or cancellation of operations from anyone.

20.1. The Client agrees to defend, indemnify and hold harmless Wolfo, its affiliates and relevant employees, officers, directors and shareholders against all and any losses from property damage as a result of personal injury, death or other injuries resulting from negligence or misbehavior of the Client or any Person, for whom the Client is legally liable.

20.2. The Client agrees to defend, indemnify and hold harmless Wolfo against any losses, damage, expenses, claims, litigation, fine, including court expenses incurred by Wolfo, which are a direct or indirect consequence of:

• the Client’s misuse of the Website/the Services/the Platform or the Client’s use of the Website/the Services/the Platform;
• the Client’s inability to fully and timely perform any of his/her obligations under this Terms, including the Client’s failure to perform obligations related to any Transaction or Order;
• any of the Client’s representations or warranties provided in accordance with this Terms is or has become false or incorrect;
• any violation by the Client of any law, rule, regulation or third party rights;
• using the Platform, the Client’s Account by any other Person (except the authorized Representative of a legal entity), using the Client’s password or any other Client’s Account data (credentials) regardless of whether it was done with or without the Client’s knowledge.

21.1. This Terms is governed by and construed in accordance with the laws of Costa Rica.

21.2. In case of disputes on the issues specified in this Terms, the Parties shall take all possible measures to resolve them through negotiations. In such a case, You shall contact Wolfo by sending an email describing the dispute and Wolfo shall contact You via the email that was used for registration or any other information that You provided to us in order to access the Client Account. In the event the dispute is not resolved within sixty (60) calendar days of the date of the sending of an email, either party may commence proceedings in the courts of Costa Rica which shall have exclusive jurisdiction for any disputes arising out of and/or in connection with this Terms.

22.1. The Client acknowledges and agrees that any telephone conversations and other communications between the Client and Wolfo, including Wolfo technical support service, may, at the discretion of Wolfo, be recorded with or without using an automatic sound notification device. In addition, the Client unconditionally agrees and authorizes Wolfo to use such records and any transcripts thereof as evidence in connection with any dispute or lawsuit that may arise or any issue arising out of or in connection with this Terms, the Services, any Order or Transaction.

23.1. This Terms is valid until one of the Parties terminates it. The Client may terminate this Terms at any time (after fulfilling the appropriate demands stipulated by this Terms) by ceasing the use of the Services (the Platform) and removing all copies of any components of the software from all of his/her devices and equipment.

23.2. In addition to cases specially stipulated by this Terms, Wolfo may unilaterally terminate this Terms at its discretion, with prior, at least 10 days before, notice to the Client.