User Agreement

Date of Revision: 27 June 2019

 

This Terms of Use (“User Agreement”) constitutes the agreement between you and Hashnest and the contract describes the rights and responsibilities of you and Hashnest. References in this User Agreement to "we", "our" or "us", are to Hashnest and all services provided by Hashnest and references to "you" or "your" are to the person with whom Hashnest enters into this User Agreement.

 

By accessing, using, or registering an account on our official website: www.hashnest.com (“Official Website”) and/or any other associated websites we own or operate (collectively, the "Site(s)") and/or on the Hashnest mobile application (“App”) and/or related services, features, functionality and content (referred to collectively hereinafter as “Services”), you agree that you have read, understood, and accept all of the terms and conditions contained in this User Agreement, as well as our Tenancy, Hashrates Hosting and Trading Service Agreement and Privacy Policy. Please read these terms carefully as they set forth the obligations of you and your use of our Services. If you do not agree, do not access or use our Services.

 

We reserve the right to modify or update the any provision of the User Agreement at any time at its sole discretion by changing the “Date of Revision” on this page. It is your responsibility to review this User Agreement that apply to your access to, and use of, our Services. Any and all modifications or updates to these Terms will be effective immediately upon being posted. By continuing to use our Services, it represents your acceptance of the amended agreement and rules. If you do not agree to any modification to these Terms, you must stop using our Services.

 

1. Eligibility

 

1.1 

By using Hashnest’s service, you hereby warrant that you

1. Are at least 18 years of age and have full legal capacity to enter into a contract with Hashnest;
2. Are an individual, legal person or organisation with full legal capacity and authority to enter into these terms;
3. Accept and use Hashnest’s Services in accordance with applicable laws and regulations and policies in your country of residence and do not violate your obligations to any other third party.

 

1.2 

We may terminate your use of our Services and/or with or without notice, in the event a state, or we determine, in our sole discretion, that you do not meet the eligibility requirements set forth in this User Agreement. If you find that when you are unable to commit to the eligibility requirements due to changes in facts or laws and regulations, you will immediately stop using our Services and inform us to terminate the Services through Hashnest Support Team. 

 

1.3 

Upon the termination of the services, your right of use of our Services will also be terminated. In this case, we are under no obligation to deliver any unprocessed or unfinished services or information to you or any third party. 

 

1.4

If you are entering into these Terms on behalf of a legal entity of which you are an employee or an agent, you confirm that you have all necessary rights and authority to bind such legal entity.

 

2. Account Registration and Requirements

 

2.1 Registration

Before you use our Services, you must register at the Official Website or on the App for an account. By creating an account, you agree to provide current, true, accurate and complete personal information in all respects. We may, at its sole discretion, refuse to open an account for you. Post-registration, if there is any change to your personal information, you shall update it so that such information is complete and accurate at all times. Each account is for a single user only and each user (including with respect to any user that is a business or legal entity) may only maintain one active account with Hashnest.

 

2.2 Verification and identity authentication

By registering for an account on Hashnest, you agree to provide personal, formal and financial information requested for the purposes of identity verification and authentication. We will collect, use and share such information in accordance with our posted Privacy Policy. The information we request may include PII (Personally Identifiable Information) such as your name, email address, mobile number, government issued ID and financial information and/or other information collected at the time of account registration and/or account recovery or assistance and/or compliance purposes such as KYC (Know your customer) and/or anti-money laundering procedures. We reserve the rights to impose restrictions, suspend or terminate all or part of the use of Hashnest Services on the account based on the information provided. 

 

In providing this required information, you confirm that it is true and accurate and you hereby acknowledge and agree that you shall keep all information provided up to date in the event of any changes to such information. If there is any reasonable doubt that any information provided by you is incurrent, untrue, inaccurate or incomplete, we shall have the right to send you a notice to demand corrections, remove relevant information directly and, as the case may be, terminate all or part of the Services to you and you shall bear all the corresponding responsibilities and consequences.

 

You authorise us and our representatives to make any inquiries we consider necessary to verify your identity or protect you, our Services, and/or us, and to take any action we deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference, fraud prevention, and financial crime agencies, and that these agencies may respond to our inquiries in full.

 

2.3 Usage

You are solely responsible for all activities which take places in connection with your account and your account can only be used by the person whose name it is registered under, which is in this case, yourself. We reserve the right to suspend, freeze or cancel accounts that are used by persons other than the persons whose names they are registered under. Further, you acknowledge and agree that you will not hold Hashnest responsible for any liability arising from any use of your account by you or by any third party, whether or not authorised by you.

 

2.4 Security

You are fully responsible for taking necessary safety precautions to protect your own account and you acknowledge that your account login and password are confidential information and not disclosed to any third party. All activities conducted via your account shall be deemed as all acts duly performed and/or authorised by you without the requirement for any further verifications on our part. Hashnest will not be responsible for any loss or consequences arising from any improper use of your account credentials, whether or not authorised by you. If you believe that your account security has been compromised, you should notify Hashnest immediately. By creating an account with Hashnest, you hereby agree that you will strictly observe all rules and procedures our Services.

 

3. Services

 

3.1 General

Hashnest mainly operates as a provider of computing or mining power (“hashrate”, “hashrates”) from mining hardware to hashrate buyers. The mining hardware is owned by Hashnest. The following services may be provided to you by Hashnest:

1. Cloudmining contract, a service agreement enabling you to purchase hashrates and use the hashrates to remotely mine cryptocurrencies for yourself using our mining hardware. You agree to purchase a cloudmining contract and Hashnest will process your order based on the terms and conditions set forth in our Miner Tenancy, Hashrate Hosting and Trading Service Agreement (“Terms of Purchase”).
2. Hashrate market, a trading platform enabling you to purchase hashrates and sell hashrates, and carry out any such purchases or sales on our Sites and Hashnest App. You agree to purchase and sell the hashrates and Hashnest will process your trade order on our hashrate Market based on the terms and conditions set forth in Terms of Purchase.
3. Exchange, a cryptocurrency exchange service enabling you to to obtain prices for your purchases and sales of cryptocurrencies, and carry out any such purchases or sales on our Sites and App.
4. Wallet, enabling you to store, track, transfer, and manage your balances of certain supported cryptocurrencies on our Sites and the App.

 

3.2 Wallet

Our wallet is available only in connection with those cryptocurrencies that we, in our sole discretion, supports. The cryptocurrencies that we support may change from time to time. Under no circumstances are should you attempt to use your wallet to transfer or store cryptocurrencies in any form that is not support by us. We assume no responsibility or liability in connection with any attempt to use the Services for unsupported cryptocurrencies. You assume full responsibility and liability in any loss resulting from intentional or unintentional misuse of your wallet, including any loss resulting from transferring one type of cryptocurrencies to a wallet intended for another type of cryptocurrency, regardless of whether the relevant cryptocurrency network confirms the applicable cryptocurrency network transaction or not.

 

3.3 Transactions

With the availability of our wallet, you may be provided the ability to transfer, track, store and trade supported digital currencies by giving instructions through the Services (each such a transaction). We process cryptocurrency according to the instructions received from users. You should verify all transaction information prior to submitting instructions to us. Once submitted, a transaction may be unconfirmed until confirmed by the cryptocurrency network. A transaction is not complete while pending confirmation. Cryptocurrencies associated with transactions that are pending confirmation will be designated accordingly, and will not be included in your account balance or available to conduct transactions. Additionally, we may require you to wait some amount of time after completion of a transaction, before permitting you to use further Services and/or before permitting you to engage in transactions beyond certain limits. 

 

We reserve the right to delay, cancel, reverse (to the extent possible) or refuse to process, any submitted digital currency transaction, if:

1. Required by law or in response to a subpoena, court order, or other government order or to enforce transaction limits;
2. We suspect the transaction involves (or has a high risk of involvement in) money laundering, terrorist financing, fraud, or any other type of financial crime or illegal activity;
3. We reasonably suspects that the transaction is erroneous; 
4. We suspect the transaction relates to prohibited use or a prohibited business or 
5. We suspect that you have breached any terms of this agreement. 

 

We are under no obligation to allow you to reinstate a purchase or sale order at the same price or on the same terms as the delayed, cancelled, reversed or failed transaction.You acknowledge that we cannot reverse a digital currency transaction that has been broadcasted to the underlying digital currency network.

 

 

4. Breach, Suspension and Termination

 

We are constantly changing and improving our Services to the features and functionality of the our Services, which may include patches, bug fixes, updates, upgrades and other modifications, so we may modify or delete certain portion, features or functionalities of our Services. We also reserve the rights to suspend or terminate our Services to you, or add or create new limits to our Services at any time. You can stop using our Services at any time, although this does not signify that this User Agreement is terminated. You agree and accept that you shall be responsible for any and all liability, claims, losses, fines and any costs associated with your breach of applicable laws and regulations or this User Agreement (including but not limited to court fees) and reasonable attorneys' fees) compensation and damages to us and our officers and directors, employees, associated entities of us and our respective successors, and from loss.

 

5. Risk Disclaimer and Liability

 

5.1 Release of Hashnest

If you have a dispute with one or more users of Hashnest, you agree that neither we nor our affiliates or service providers, nor any of our respective officers, directors, agents, joint venturers, employees and representatives, will be liable for any claims, demands and damages (actual and consequential, direct or indirect) of any kind or nature arising out of or in any way connected with such disputes.

 

5.2 Indemnification

You agree to indemnify us, our affiliates, service providers, and each of our, or their, respective directors, officers, employees, representatives and agents from and against any and all liability and costs (including reasonable legal fees) incurred arising out of or related to 

1. Any fraud or fraudulent misrepresentation you commit;
2. Any inaccuracy or defect of any of the information you have provided to us;
3. Any breach of applicable law or regulation you commit;
4. Any other person’s use of your account;
5. Any breach by you of this User Agreement; and
6. Third party claims arising from your use of the Sites and/or Services, any of your content or any use of your account (whether or not such use was by you).

 

5.3 No warranties

We provide and maintain our Sites and Services on an "AS IS" and "AS AVAILABLE" basis without any representation or warranty, express or implied, statutory or otherwise, and all of those terms and conditions are hereby excluded to the maximum extent permitted by law. And we are liable only to provide our services with reasonable skill and care. We give no other warranty in connection with our Sites and Services and we disclaim all liability for, including any losses, damages or claims arising from:

1. Any changes in applicable law or regulation, or the acts of any legislator or regulator in any part of the world;
2. User error such as forgotten passwords, incorrectly constructed transactions, or mistyped addresses;
3. Server failure and/or service interruption;
4. The infringement by any other person of any copyright or other intellectual property rights of any third party through any user content or use of the Sites or the Services;
5. Viruses or other malicious software that may infect a user's computer equipment, software, data or other property caused by any other person accessing, using or downloading the Sites, the Services or any user content; and

We will not be liable in any amount for failure to perform any obligation under these terms of service if that failure is caused by the occurrence of an event beyond our reasonable control.

 

5.4 Limitations of Liability

To the maximum extent permitted by law, we exclude liability for any losses or damages which you may suffer, whether the same are suffered directly or indirectly or are immediate or consequential, which fall within any of the following categories:

1. Special damage even though that party was aware of the circumstances in which such special damage could arise;
2. Loss of anticipated savings;
3. Loss of business opportunity and management time;
4. Loss of goodwill;
5. Loss of trading profits
6. Loss of cryptocurrency arising as a result of any of your acts or omissions of those of any third
7. Loss arising out of or in connection with:

(i) Any defect or insecurity in any systems you use to store or transmit cryptocurrency or to access or use the Sites or the Services;

(ii) Any changes to the regulatory, legislative or technical environment applicable to cryptocurrencies;

(iii) Damage and/or losses of information and/or data;

(iv) The acts or omissions of any bank or provider of banking services; or

Any change in the value of cryptocurrency howsoever arising (including as a result of the acts or omissions of Hashnest).

8. Events that are not controlled by Hashnest.
9. You agree that Hashnest’s entire liability to you under this Agreement shall not exceed the amount of maintenance fees paid by you to Hashnest.

 

6. Website access, availability and accuracy

 

6.1

Access to our Services may become degraded or unavailable during times of significant volatility or volume, this could result in the inability to buy or sell for periods of time and may also lead to support response time delays. Although we strive to provide you with excellent service, we do not guarantee that our Services will be available without interruption and we do not guarantee that any order will be executed, accepted, recorded, or remain open; and please note that our Hashnest Support Team’s response times may be delayed, including during times of significant volatility or volume, especially for non-trust and safety issues. We shall not be liable for any losses resulting from or arising out of transaction delays.

 

6.2

Although we intend to provide accurate and timely information on our Sites, ours Site may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our terms, products and Services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on our Sites are your sole responsibility and we shall have no liability for such decisions.

 

7. Intellectual Property

 

Hashnest retains all copyrights and other intellectual property rights (“Properties”) based thereon over all content and other materials contained on our Services including, without limitation, all text, graphics, videos, user interfaces, visual interfaces, photographs, sounds, artwork, computer code (including html code), programs, software, products, information, data, and documentation as well as the design, structure, selection, coordination, expression, “look and feel,” and arrangement of any content thereof.

 

We will own exclusive rights, including all intellectual property rights, to any feedback including, but not limited to, suggestions, ideas or other information or materials regarding our Services or related products that you provide, whether by email, through our Services or otherwise. You hereby assign to us any and all intellectual property rights on such feedback unlimited in time, scope and territory. Any Feedback you submit is non-confidential and shall become the sole property of Hashnest. You will not be entitled to, and hereby waive any claim for, acknowledgment or compensation based on any Feedback or any modifications made based on any Feedback.

 

8. Tax

 

8.1

It is your sole responsibility to determine what, if any, taxes apply to the transactions you complete or Services you receive through Hashnest. It is your responsibility to report and remit the correct tax to the appropriate tax authority and all your factual and potential tax obligations are your concern. You agree that Hashnest is not in any case and under no conditions responsible for determining whether taxes apply to your transactions or Services or for collecting, reporting, withholding or remitting any taxes arising from any transactions or Services. You also agree that we are not in any case and under no conditions bound to compensate for your tax obligation or give you any advice related to tax issues. 

 

8.2

All fees and charges payable by you to us are exclusive of any taxes, and shall certain taxes be applicable, they shall be added on top of the payable amounts. Upon our request, you will provide to us any information that we reasonably request to determine whether we are obligated to collect VAT from you, including your VAT identification number. If any deduction or withholding is required by law, you will notify and pay us any additional amounts necessary to ensure that the net amount received by us, after any deduction and withholding, equals the amount we would have received if no deduction or withholding had been required. Additionally, you will provide us with documentation showing that the withheld and deducted amounts have been paid to the relevant taxing authority.

 

9. Restrictions and Obligations

 

When you use our Services you agree and covenant to observe the following:

1. All activities that you carry out during the use of our Services will be in compliance with the requirements of applicable laws and regulations, this User Agreement and all rules applicable to our Sites and Services.
2. You may not use our Services in any manner that could damage, disable, overburden, or impair the provision of us or adversely affect our reputation or cause us to assume legal or other penalties, sanctions.
3. You are only using the services provided by us for your own benefit, and that your use of the Services will not be in violation of public interest, public ethnics or other’s legitimate interests including take any action that would interfere with, disrupt, negatively affect, or inhibit other users from using our Services.
4. You may not modify, reproduce, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any proprietary notices or labels, license, sublicense, sell, mirror, frame, rent, lease, private label, grant a security interest in, create derivative works of, or otherwise exploit the Hashnest’s Properties, or any portion of our Properties without our prior written consent. 
5. You may not maliciously register accounts in any way, including but not limited to multiple account registrations to obtain profits and rewards.
6. You must not use any method to block your Internet traffic and IP addresses (such as Proxy, Tor, VPN, etc.) or use other technical services that hide your real Internet connection.
7. You agree that we shall have the rights to investigate any violations to the above Terms. If you violate the above Terms, we reserve the right to directly take all necessary measures to take actions to apply relevant rules without receiving your consent or giving prior notice to you, and/or legally pursue your legal and other related responsibilities.

 

10. Miscellaneous

 

10.1 Privacy

Access to our Services will require the submission of certain personally identifiable information. Please review our Privacy Policy.

 

10.2 Third-party website or links disclaimer

Any links to third-party websites from the Services may be provided as a convenience but does not imply endorsement by Hashnest of any products, services or information presented therein, nor does Hashnest guarantee the accuracy of the information contained on them. In addition, since we have no control over the terms of use or privacy practices of third-party websites, you should read and understand those policies carefully.

 

10.3 Announcements

All official announcements will be listed on https://support.hashnest.com/hc/en-us where we urge all users to refer to regularly. Hashnest will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements.

 

10.4 Entire Agreement

This Agreement (including documents incorporated by reference herein) comprise the entire understanding and agreement between you and Hashnest as to the subject matter hereof, and it supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Agreement), and every nature between and among you and Hashnest.

 

10.5 Force Majeure

We will not be liable for delays, failure in performance or interruption of our Services which result directly or indirectly from any cause or condition beyond our reasonable control, including any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and will not affect the validity and enforceability of any remaining provisions.

 

11. Communications

 

11.1 

We may provide means by which you can communicate with us. We will communicate with you at the email address you have provided or through other means of communication that may be provided by the Sites or App. You will be deemed to have received our communication to you at the time the email is sent or the time the communication is posted.

 

You agree and consent to receive electronically all communications we that provides in connection with your use of our Services. You agree that we may provide these communications to you by posting them via Hashnest Messages found in your account or https://support.hashnest.com/hc/en-us where we urge all users to refer to regularly. Hashnest will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements.

 

11.2

You hereby agree, that no radio, computer and internet communication equipment is completely free of fault, occasional technical disruptions may affect the service and so can human error, which may result in misrepresentation of content or miscommunication.

 

11.3

You agree to contact us in a timely manner if you discover or suspect that other users have violated the agreement in this Agreement or have any fraud or misconduct. You also agree that you will not use our Sites and Services in any way, that:

1. Is unlawful or may give rise to civil or criminal liability;
2. Infringes any copyright or other intellectual property rights of any third party;
3. Infringes any third party's rights of privacy or rights of publicity;
4. Includes any computer virus or other malicious software;
5. Is abusive, pornographic, defamatory, discriminatory or obscene;
6. Harasses any other person;
7. Impersonates any moderator, administrator or any staff or any other person connected with Hashnest;
8. Contains the confidential information of any other person;
9. Solicits passwords or personal information;
10. Exploits any other person;
11. We consider inappropriate; or
12. Encourages or provokes any other person to do any of the acts listed above.

You shall cooperate with us in the defence of any claim. We reserve the right, at our own expense, to assume the exclusive defence and control of any matter otherwise subject to indemnification by you.

 

12. Customer support and dispute resolution

 

If you have any feedback, questions, issues, complaints, comments and suggestions for, you can contact us at support@hashnest.com, or on our Help Center.

 

13. Risk Disclaimer

 

13.1 No Investment Advice

The service, content and information provided by and disseminated by us are solely educational and does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of our Sites' content as such. Do conduct your own due diligence and consult your financial advisory before making any investment decision regarding cryptocurrency. Hashnest will not be held responsible for the investment decisions you make.

 

13.2 Price Risk

The cryptocurrency market is very highly volatile. As with any asset, the value of cryptocurrencies can go up or down and there can be a substantial risk that you lose money buying, selling, holding, or investing in cryptocurrencies. It is common for prices to increase or decrease by over 100% in a single day. Although this could mean potential huge profits, this also could mean potential huge losses. You should carefully consider whether trading or holding cryptocurrencies is suitable for you in light of your financial condition. Only invest money which you are willing to lose. Putting your money into buying hashrates for mining cryptocurrency or buying cryptocurrency may not be suitable for all users of this Sites. Anyone looking to invest in cryptocurrencies should consult a fully qualified independent professional financial adviser.

 

13.3 Mining Risk

In addition to normal fluctuations, there are other risks that can cause large fluctuations and thus affecting hashrates and your mining. We are not responsible for the losses caused by following factors including but not limited to:

1. Hardware obsolescence and/or hardware amortisation;
2. Server downtime;
3. Natural disasters such as floods, volcanic eruptions, earthquakes, landslides, fires, storms;
4. Government actions and government directives, city-level grid power supply incidents, and social anomalies such as war, strikes, and turmoil. 

 

13.4

By using the Services you acknowledge and agree that (1) you are aware of the risks associated with cryptocurrencies (2) that you assume all risks with respect to your use of the Services and trading in cryptocurrencies and (3) Hashnest is not responsible or liable for any aforementioned risks or adverse outcomes.