Last Updated: 2015/02/24

These Terms of Service and any terms expressly incorporated herein (“Terms”) govern your access to and use of the Monero hosted account services (our “Services”) provided by MyMonero (“Company,” “we,” or “us”).

1. Eligibility

You represent and warrant that: (a) you are of legal age to form a binding contract; (b) you have not been previously suspended or removed from using our Services; and (c) you have full power and authority to enter into this agreement without violating any other agreement to which you are a party. If you create or use an account on behalf of a legal entity, you further represent and warrant that (i) the entity is duly organized and validly existing under the laws of its jurisdiction, and (ii) you are duly authorized to act on its behalf.

2. Account Registration

You must create an account with Company to access the Services (“Account”). By creating an Account, you agree to: (a) provide accurate and truthful information; (b) maintain and promptly update your Account details; (c) keep your Account secure by protecting and backing up your Account Private Login Key and by restricting access to your device and Account; (d) promptly notify us of any suspected security breach related to your Account; and (e) accept responsibility for all activity under your Account and all risks of any authorized or unauthorized access, to the maximum extent permitted by law.

When you create an Account, we assign you a secret sequence of words (“Private Login Key”). You must retain this to access your Account.

3. Privacy Policy

Please see our Privacy Policy for details on how we collect, use, and share information.

4. Description of Services

Our in-browser software (a) generates and stores a Monero account address and its associated view private key, and (b) helps you submit Monero transaction requests to the Monero network without requiring you to download and run the Monero client yourself.

4.1. Account Address and Private Key. When you create an Account, the Services (running in your browser) generate a cryptographic key pair you can use to send and receive Monero via the Monero network. The account’s view key is stored by the Services so we can determine which transactions relate to your account. The private spend key is never stored or known by the Services, which means it is cryptographically impossible for us to spend funds on your behalf. The combined public keys generated by the Services form your Monero account address and may be shared with the Monero network and others to complete transactions. The private key uniquely corresponds to the account address and must be used with that address to create transactions sending Monero. You alone are responsible for safeguarding your private key and your Private Login Key. Anyone with access to your Private Login Key and/or private key pair can access, spend, or transfer the Monero associated with that account address.

4.2. No Private Login Key Retrieval. Our Services do not receive or store your Account’s Private Login Key or the unencrypted private spend key. We cannot help retrieve your Account Private Login Key. The Services provide tools to reveal your Private Login Key while you are logged in so that you can create your own backups, but the Services cannot generate a new Private Login Key for your existing Account. You are solely responsible for remembering and backing up your Account Private Login Key. IF YOU DO NOT SEPARATELY STORE A BACKUP OF ANY ACCOUNT ADDRESSES AND PRIVATE LOGIN KEY OR PRIVATE VIEW/SPEND KEY PAIRS MAINTAINED IN YOUR ACCOUNT, YOU ACKNOWLEDGE AND AGREE THAT ANY MONERO ASSOCIATED WITH SUCH ACCOUNT ADDRESSES WILL BECOME INACCESSIBLE IF YOU DO NOT HAVE YOUR ACCOUNT PRIVATE LOGIN KEY.

4.3. Transaction Requests. All proposed Monero transactions must be confirmed and recorded on the Monero public ledger by the distributed Monero consensus network (“Verification Network”), which is not owned, controlled, or operated by us. The Services assist in submitting your Monero transaction request for confirmation to the Verification Network. The Monero network, including the Verification Network, is run by a decentralized community of independent third parties. We have no control over the Monero network, including the Verification Network, and therefore cannot ensure that any transaction request you submit via the Services will be confirmed. You acknowledge and agree that transactions submitted via the Services may not complete or may be significantly delayed by the Verification Network. By completing a transaction request via the Services, you authorize us to submit that request to the Verification Network according to your instructions provided through the Services.

4.4. No Storage or Transmission of Monero. Monero are intangible digital assets existing only by virtue of ownership records maintained on the Monero network. The Services do not store, send, or receive Monero. Any transfer of title in Monero occurs within the decentralized Monero network, not within the Services.

4.5. Relationship. Company acts as an independent contractor for all purposes and is not your agent or trustee.

4.6. Accuracy of Information. You represent and warrant that all information you provide via the Services is accurate and complete. You acknowledge that Company is not responsible for errors or omissions you make in connection with any Monero transaction initiated via the Services. For example, if you mistype an account address or otherwise provide incorrect information when sending Monero, the Monero will be sent to the address you provided. Always review your transaction details carefully before finalizing any request via the Services.

4.7. No Cancellations or Modifications. Once a transaction request is submitted to the Monero Verification Network via the Services, the Verification Network will automatically complete or reject the request, and you will be unable to cancel or modify it. Company has no control over the Verification Network and cannot facilitate cancellations or modifications. As a result, all transaction requests initiated via the Services are irreversible.

4.8. Taxes. You are solely responsible for determining whether taxes apply to transactions you complete via the Services and for reporting and remitting the correct taxes to the appropriate authority. Company is not responsible for determining tax obligations related to your Monero transactions or for collecting, reporting, withholding, or remitting taxes arising from such transactions.

5. Fees

5.1. Company Fees. Access to the account is free, but Company may charge fees for additional Services. At a minimum, Company charges a fee for every transaction sent. Any applicable fees will be displayed within the relevant Service.

5.2. Miners Fees.

1. Overview of Monero Mining. The Monero Verification Network is operated by independent participants (“miners”) who run Monero software. Miners compile pending transactions into “blocks,” verify that each transaction is valid and not a double-spend, and solve a mathematical algorithm to confirm the block for addition to the public ledger (“blockchain”). Mining is competitive: the first miner to verify and solve the block receives (i) a protocol-generated Monero reward and (ii) any voluntary “Miners Fees” included by the users who initiated the transactions. Because miner participation is voluntary, including a Miners Fee incentivizes miners to include your transaction in the next block.
2. Miners Fee Options. Currently, our Services do not allow you to set the Miners Fee manually. It is calculated based on the expected minimum fee for the transaction, determined per kilobyte of the transaction’s data size (which may not correlate with the amount of Monero being transferred).

You acknowledge that Company does not receive any Miners Fees in connection with providing the Services and is not responsible for the speed at which miners may verify your transactions.

6. Discontinuance of Services

We may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue any portion of the Services temporarily or permanently. You are solely responsible for maintaining, outside of the Services, a backup of any account address and private key pair stored in your Account. If you do not maintain an external backup and we discontinue the Services, you may be unable to access Monero associated with any account address maintained in your Account.

7. Assumption of Risk

You acknowledge that using an Internet-based account service involves risks, including failures of hardware, software, and Internet connections; malicious software; and unauthorized access by third parties to information stored in your Account (including your account address, Private Login Key, and/or private key pair). Company is not responsible for communication failures, disruptions, errors, distortions, or delays you may experience when using the Services, however caused.

Company is not responsible for—and will not be liable for—any losses, damages, or claims arising from the use of our Services, including (a) account data being “bruteforced”; (b) server failure or data loss; (c) forgotten Private Login Keys; (d) corrupted account files; (e) incorrectly constructed transactions or mistyped Monero addresses; (f) unauthorized access to mobile applications; or (g) “phishing,” viruses, third-party attacks, or other unauthorized activities.

8. Third-Party Services and Content

While using our Services, you may access content or services provided by third parties, including links to third-party sites and services (“Third-Party Content”). We do not control, endorse, or adopt Third-Party Content and are not responsible for it, including material that may be misleading, incomplete, erroneous, offensive, or otherwise objectionable in your jurisdiction. Your dealings or correspondence with third parties are solely between you and those parties. We are not liable for any loss or damage incurred as a result of such dealings. Your use of Third-Party Content and interactions with third parties are at your own risk.

9. Acceptable Use

When using the Services, you agree not to violate any law, contract, intellectual property right, or other third-party right, and you are solely responsible for your conduct. Without limiting the foregoing, you agree you will not:

• Use the Services in a manner that interferes with, disrupts, negatively affects, or inhibits other users from fully enjoying the Services, or that damages, disables, overburdens, or impairs the Services’ functioning.
• Use the Services to pay for, support, or engage in any illegal activities, including illegal gambling, fraud, money-laundering, or terrorist activities.
• Use any robot, spider, crawler, scraper, or other automated means or interface not provided by us to access the Services or to extract data.
• Use or attempt to use another user’s account without authorization.
• Attempt to bypass content-filtering techniques or access any service or area of the Services you are not authorized to access.
• Introduce viruses, trojans, worms, logic bombs, or other harmful material to the Services.
• Develop third-party applications that interact with the Services without our prior written consent.
• Provide false, inaccurate, or misleading information.
• Encourage or induce any third party to engage in prohibited activities under this Section.

10. Feedback

Company will own all rights, including intellectual property rights, in any feedback, suggestions, ideas, or other information or materials about Company or the Services that you provide (“Feedback”), whether by email, through the Services, or otherwise. Any Feedback you submit is non-confidential and becomes Company’s sole property. We may use and disseminate such Feedback for any purpose without acknowledgment or compensation to you. You waive any rights you may have in the Feedback (including copyrights or moral rights). Do not send Feedback if you expect payment or want to retain or claim rights; we may already be working on similar ideas. We may disclose your identity to any third party claiming that content posted by you violates their intellectual property or privacy rights. We may remove any posting on our website that, in our opinion, does not comply with these standards. You agree not to submit Feedback that is defamatory, illegal, offensive, or otherwise violates third-party rights or any agreement between you and a third party.

11. Copyrights and Other Intellectual Property Rights

Unless otherwise indicated, all copyrights and other intellectual property rights in content and materials on our website or provided in connection with the Services— including the Company name and logo, and all designs, text, graphics, data, software, sound files, other files, and their selection and arrangement (collectively, “Company Materials”)—are the proprietary property of Company or our licensors/suppliers and are protected by applicable laws.

We grant you a limited, non-exclusive, non-sublicensable license to access and use the Company Materials for your personal or internal business use. This license, subject to these Terms, does not permit: (a) resale of Company Materials; (b) distribution, public performance, or public display of Company Materials; (c) modification or creation of derivative works from Company Materials; or (d) any use other than for their intended purposes. This license automatically terminates if we suspend or terminate your access to the Services.

12. Suspension; Termination

In the event of any Force Majeure Event (as defined in Section 17.5), breach of these Terms, or any event that makes providing the Services commercially unreasonable, we may, in our discretion and without liability to you, with or without prior notice, suspend your access to all or part of the Services. We may terminate your access in our sole discretion, immediately and without notice, and delete or deactivate your Account and all related information and files without liability, including if you breach these Terms. If terminated, Company will attempt to return any Funds in your Account not otherwise owed to Company, unless we believe you committed fraud, negligence, or other misconduct. Your access to funds after termination depends on your access to your account backup.

13. Disclaimer of Warranties

1. TO THE MAXIMUM EXTENT PERMITTED BY LAW, AND EXCEPT AS EXPRESSLY PROVIDED OTHERWISE IN WRITING BY US, THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE.” TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE DISCLAIM—AND YOU WAIVE—ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT, AS TO THE SERVICES AND ANY INFORMATION, CONTENT, OR MATERIALS CONTAINED THEREIN.
2. YOU ACKNOWLEDGE THAT INFORMATION YOU STORE OR TRANSFER THROUGH THE SERVICES MAY BECOME IRRETRIEVABLY LOST, CORRUPTED, OR TEMPORARILY UNAVAILABLE DUE TO VARIOUS CAUSES, INCLUDING SOFTWARE FAILURES, PROTOCOL CHANGES BY THIRD-PARTY PROVIDERS, INTERNET OUTAGES, FORCE MAJEURE EVENTS, DISASTERS, SCHEDULED OR UNSCHEDULED MAINTENANCE, OR OTHER CAUSES WITHIN OR OUTSIDE OUR CONTROL. YOU ARE SOLELY RESPONSIBLE FOR BACKING UP AND MAINTAINING DUPLICATE COPIES OF ANY INFORMATION YOU STORE OR TRANSFER THROUGH THE SERVICES.
3. Some jurisdictions do not allow the disclaimer of implied terms in consumer contracts, so some or all of the above disclaimers may not apply to you.

14. Limitation of Liability

1. EXCEPT AS REQUIRED BY LAW, IN NO EVENT SHALL COMPANY OR OUR DIRECTORS, MEMBERS, EMPLOYEES, OR AGENTS BE LIABLE FOR ANY SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND—INCLUDING LOSS OF USE, PROFITS, OR DATA—WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH YOUR USE OF OR INABILITY TO USE THE SERVICES OR THE COMPANY MATERIALS. THIS INCLUDES DAMAGES CAUSED BY RELIANCE ON INFORMATION FROM COMPANY OR RESULTING FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION, OR ANY FAILURE OF PERFORMANCE—WHETHER OR NOT RESULTING FROM FORCE MAJEURE, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION, OR UNAUTHORIZED ACCESS TO COMPANY’S RECORDS, PROGRAMS, OR SERVICES.
2. Some jurisdictions do not allow exclusion of certain warranties or limitation/exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations may not apply to you.
3. TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF COMPANY (INCLUDING DIRECTORS, MEMBERS, EMPLOYEES, AND AGENTS), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING ACTIVE, PASSIVE, OR IMPUTED NEGLIGENCE), PRODUCT LIABILITY, STRICT LIABILITY, OR ANY OTHER THEORY, ARISING OUT OF OR RELATING TO THE SERVICES OR THESE TERMS, EXCEED ONE HUNDRED DOLLARS ($100).

15. Indemnity

You agree to defend, indemnify, and hold harmless Company (and our officers, directors, members, employees, agents, and affiliates) from any claim, demand, action, damage, loss, cost, or expense (including reasonable attorneys’ fees) arising out of or relating to: (a) your use of, or conduct in connection with, the Services; (b) any Feedback you provide; (c) your violation of these Terms; or (d) your violation of any rights of another person or entity. If you are obligated to indemnify us, we may, in our sole discretion, control the defense or settlement of any matter at our expense.

16. Applicable Law; Arbitration

PLEASE READ THIS SECTION CAREFULLY. IT REQUIRES ARBITRATION OF DISPUTES AND LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF.

You and Company agree to arbitrate any dispute arising from these Terms or your use of the Services, except for disputes in which either party seeks equitable or other relief for alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets, or patents. ARBITRATION PREVENTS YOU FROM SUING IN COURT OR HAVING A JURY TRIAL. You and Company agree to provide written notice of any dispute within thirty (30) days of its occurrence. Notice to Company must be sent to [email protected] . You and Company further agree: (a) to attempt informal resolution before demanding arbitration; (b) that any arbitration will occur in South Africa; (c) that arbitration will be confidential and finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed under those Rules; and (d) that courts in South Africa have exclusive jurisdiction over any appeals of an arbitration award and over any suit not subject to arbitration. Except as to class procedures and remedies below, the arbitrator may grant any remedy available in court. These Terms and any dispute are governed by the laws of South Africa, without regard to conflicts of laws principles. WHETHER IN ARBITRATION OR COURT, YOU AND COMPANY WILL NOT COMMENCE A CLASS ACTION, CLASS ARBITRATION, OR REPRESENTATIVE ACTION OR PROCEEDING AGAINST THE OTHER.

17. Miscellaneous

• 17.1. Entire Agreement; Order of Precedence. These Terms constitute the entire agreement and supersede all prior and contemporaneous understandings regarding the Services. These Terms do not alter the terms of any other agreement you may have with Company for the Services or any other product or service. If there is a conflict between these Terms and another agreement with Company, the other agreement will control only if it expressly states that it overrides these Terms.
• 17.2. Amendment. We may modify these Terms from time to time in our sole discretion. If we make changes, we will notify you—such as by email and/or by posting the amended Terms via the Services—and update the “Last Updated” date. Unless stated otherwise, amended Terms take effect immediately upon posting and apply prospectively. Your continued use of the Services after the effective date constitutes acceptance. If you do not agree, you must stop using the Services.
• 17.3. Waiver. Our failure or delay in exercising any right, power, or privilege under these Terms does not operate as a waiver.
• 17.4. Severability. If any provision of these Terms is found invalid or unenforceable, the remaining provisions will remain in full force and effect.
• 17.5. Force Majeure Events. Company is not liable for any loss or damage resulting from events beyond our reasonable control, including flood, extreme weather, earthquake, acts of God, fire, war, insurrection, riot, labor dispute, accident, government action, communications or power failure, or equipment/software malfunction (each, a “Force Majeure Event”).
• 17.6. Assignment. You may not assign or transfer your rights or obligations under these Terms without Company’s prior written consent, including by operation of law or in connection with a change of control. Company may assign or transfer any or all of its rights under these Terms, in whole or in part, without your consent.
• 17.7. Headings. Section headings are for convenience only and do not limit or construe the sections.
• 17.8. Survival. Sections 13 (Disclaimer of Warranties), 14 (Limitation of Liability), 15 (Indemnity), 16 (Applicable Law; Arbitration), and 17 (Miscellaneous) survive any termination or expiration of these Terms.