Web3 Wallets Users

PayBitoPro WEB3 WALLET SERVICES

The PayBitoPro Web3 Wallet Services is a built-in feature within the Application and/or Website which provide you access and use to a self-custodial wallet that uses multi-party computation (“MPC”) technology for managing Digital Currencies and NFTs. The PayBitoPro Web3 Wallet Services allow you to:

Receive and store units of account in relation to Digital Currencies and NFTs;

Transfer Digital Currencies from your PayBitoPro spot wallet to your PayBitoPro Web3 Wallet and vice versa;

Send or receive Digital Currencies and NFTs from your PayBitoPro Web3 Wallet to other users;

Connect to supported and compatible blockchain applications;

Exchange a Digital Currency in your PayBitoPro Web3 Wallet for another Digital Currency (“Swap function”);

Access certain yield-generating products on third-party protocols (“Earn Function”);

Access the PayBitoPro Inscription Marketplace, the use of which is subject to the provisions detailed in Annex 1; and

Access certain native decentralized applications and/or features within the PayBitoPro ecosystem or offered by other PayBitoPro Services.

REGISTRATION; LOGIN DETAILS; TERMINATION OF ACCOUNT

To use the PayBitoPro Web3 Wallet Services, you must first have an existing PayBitoPro Account.

After passing multi-factor authentication, you can create a PayBitoPro Web3 Wallet directly. When setting up your PayBitoPro Web3 Wallet, the address of PayBitoPro Web3 wallet will be bound to your PayBitoPro Account which means you can not change the address of PayBitoPro Web3 wallet after its creation.

The PayBitoPro Web3 Wallet is using MPC technology and therefore there is no private key or seed phrase required.

When you perform the PayBitoPro Web3 Wallet account opening process, you represent and warrant to PayBitoPro that:

(1) You are at least 18 years of age, legally capable of entering into the PayBitoPro Web3 Wallet Terms, and reside in a jurisdiction where the PayBitoPro Web3 Wallet Services are offered;

(2) You will upon PayBitoPro’s request provide us with accurate, true and complete information about yourself;

(3) You are not using the PayBitoPro Web3 Wallet Services as an agent, proxy or otherwise on behalf of another user;

(4) Your use of the PayBitoPro Web3 Wallet Services is and will be in full compliance with the PayBitoPro Web3 Wallet Terms and all relevant laws and regulations, and such access, use and activities are not prohibited by any applicable laws, and are not for any illegal or immoral purposes; and

(5)You have not been suspended, banned or removed from any other platforms similar to our platform for any reason.

As your PayBitoPro Web3 Wallet is bound to your PayBitoPro Account, you will not be able to close your PayBitoPro Web3 Wallet account unless you close your PayBitoPro account in which case the PayBitoPro Web3 Wallet account will no longer be accessible to you.

If there is no activity through your PayBitoPro Web3 Wallet account for the requisite period as defined by applicable law, we may close such a dormant account and terminate your access to the PayBitoPro Web3 Wallet Services upon written notice. If we receive documentation it deems sufficient to confirm your death or incapacitation, we will freeze your PayBitoPro Web3 Wallet account, in accordance with applicable laws. While your PayBitoPro Web3 Wallet account is frozen, no transactions may be completed. If we have reason to believe you may have died or become incapacitated, but it does not have legal proof of your death or incapacitation in a form satisfactory to us, you authorize us to make inquiries, whether directly or through third parties, that we consider necessary to ascertain whether you have indeed died or have become incapacitated. Following our confirmation of your death or incapacitation, we require documentation it deems sufficient to confirm another person is a beneficiary or fiduciary of your PayBitoPro Web3 Wallet account. This includes, for example, a power of attorney, court order, last will and testament, or similar documentation. In the event we determine, in its sole and absolute discretion, that there is uncertainty regarding the validity of the beneficiary or fiduciary designation, we reserve the right to require an order resolving such issue from a court of competent jurisdiction before taking any action.

NETWORK FEES

Transactions performed using the PayBitoPro Web3 Wallet Services may be subject to a transaction fee (including without limitation gas fees charged by a blockchain) (the “Network Fee”). We do not determine or control the Network Fee, and such Network Fee may be subject to change at any time without prior notice to you. You authorize us to deduct from your account any applicable fees that you owe under the PayBitoPro Web3 Wallet Terms and the PayBitoPro Terms (including without limitation the Network Fee).

You must ensure that you have an adequate balance in your PayBitoPro Web3 Wallet account to complete transactions before initiating a transaction. We shall not be liable for any failed transactions due to insufficient funds in your PayBitoPro Web3 Wallet account or Network Fees associated with your transaction using the PayBitoPro Web3 Wallet Services.

TRANSFERS AND RISKS

To send Digital Currencies or NFTs to other users, you are required to input the user’s wallet or blockchain address (whether a PayBitoPro wallet or an external permissible digital wallet) and specify the amount of Digital Currency (the “Transfer Amount”) that you would like to transfer (the “Payment Instruction”). You are solely responsible for verifying all Transfer Amounts and all Payment Instructions before submitting them to us.

The decision to make any transaction using the PayBitoPro Web3 Wallet Services (in particular accessing third-party applications on the blockchain) is your sole decision and not our decision or responsibility. Always do your own research - you are solely responsible for your investment decisions and your access to any third-party applications on the blockchain are at your own risk. BEWARE OF FRAUDULENT OR DECEPTIVE CONDUCT BY THIRD-PARTY APPLICATIONS AND NOTE THAT DIGITAL CURRENCIES ERRONEOUSLY TRANSMITTED USING THE PayBitoPro Web3 WALLET SERVICES MAY BE LOST FOREVER. We reserve the right at its sole and absolute discretion (acting reasonably) to subject any transactions to holds, limitations or reversals.

Third-party applications and Swap/Earn Function. If you access or use third-party applications, including, without limitation, functionality embedded within the PayBitoPro Web3 Wallet Services such as the Swap Function or Earn Function, you acknowledge and agree that: (i) We are not responsible for your access or use of third-party applications (e.g., dApps or DEXs) and shall have no liability whatsoever in connection with your use of such third-party applications, including, without limitation, any transactions you dispute; (ii) the limits of amounts that you may exchange or yield you may generate via third-party applications per day shall be subject to any requirements of the third-party developed smart contracts; (iii) blockchain operations are irrevocable meaning when you conduct any transactions via third-party applications, you shall be solely responsible for the consequences of any issues associated with such transactions, including, without limitation, your transfer to an incorrect address or problems associated with the node servers selected by you; (iv) when you use third-party applications, third-party developed smart contracts may charge you handling fees and/or service fees and any information displayed on PayBitoPro relating to such fees are for your reference only as we cannot and does not guarantee its accuracy, applicability, reliability, integrity or appropriateness, nor shall we be liable for any loss or damage that may be caused directly or indirectly by your use of these contents; (v) when using the Swap Function, you will be provided with an estimate of the number of Digital Currencies you will recieve for (along with a slippage percentage that determines the minimum amount of Digital Currencies you will recieve in connection with the requested exchange) however the final number of Digital Currencies will differ depending on the exchange rate at the time you confirm to proceed with the exchange and the third-party application processes your transaction; and (vi) We do not currently charge any service fees or handling fees for the use of third-party applications, however, we may, in its discretion, charge such fees at any time in the future. Any updated fees will apply to any transaction that occurs following the effective date of the updated fees.

Transaction History. You can view your transaction history by logging into your PayBitoPro Web3 Wallet account.

SELF-CUSTODY OF DIGITAL CURRENCIES

You acknowledge and agree that:

You (and not PayBitoPro) have full ownership of the Digital Currencies associated with your PayBitoPro Web3 Wallet account;

Every transaction or activity of your PayBitoPro Web3 Wallet needs to be initiated and signed by you.

You must pass the security and risk safeguards implemented in the Application and in certain circumstances, we will give you a risk warning but we will not under any circumstances be responsible for the transaction or activity that results of your transaction;

We can only help you to recover your PayBitoPro Web3 Wallet after you pass the required multi-factor authentication, however, we do not act as custodian of the Digital Assets held in your PayBitoPro Web3 Wallet account.

TAXES

It is your sole responsibility for paying any taxes applicable to you in relation to using the PayBitoPro Web3 Wallet Services. We do not and cannot advise you on the tax consequences of your use of the PayBitoPro Web3 Wallet Services. We make no representations in relation to tax liabilities. We also assume no responsibility for your tax liability or for collecting, reporting, withholding or remitting any taxes arising from the PayBitoPro Web3 Wallet Services that you may use. In case we are obliged under applicable law or voluntarily decide to report to any government authorities any information that is related to your tax obligations, you undertake to provide us with the requested documents, data and information.

GENERAL

Suspicious activity monitoring and holds. In order to comply with anti-money laundering laws, and to protect you and other users from unlawful use of the PayBitoPro Web3 Wallet Services, we monitor transactions for potential fraud, suspicious activity, and sanctions evasion. As a result, in some cases transactions and accounts may be placed on hold, and the delivery of Digital Currencies or NFTs will be delayed, to permit these processes to proceed to conclusion. In addition, we may be required to file suspicious transaction reports, and reports of property blocked, or transactions rejected with the applicable governmental authority.

Governing law. The PayBitoPro Web3 Wallet Terms shall be governed by, and construed in accordance with, the laws of the respective jurisdictions PayBitoPro is operational at.

Dispute Resolution. Any claims, dispute or controversy between you and PayBitoPro in connection with or relating to the PayBitoPro Web3 Wallet Terms shall be resolved in accordance with the dispute resolution clause in the PayBitoPro Terms.

ANNEX 1: SPECIFIC PROVISIONS FOR THE PayBitoPro INSCRIPTION MARKETPLACE

1. PayBitoPro Inscription Marketplace.

The PayBitoPro Inscription Marketplace or the (“Marketplace”) is an online intermediary service that allows you to buy and sell so-called “inscriptions” or specific digital assets and / or non-fungible-tokens (“NFTs”) stored and recorded on the Bitcoin blockchain (“Inscriptions”).

2. Role of PayBitoPro.

You acknowledge and understand that while using the Marketplace and buying or selling Inscriptions, our role is limited to the technical intermediation between you and a third-party. We may use other third-party intermediation services to facilitate this intermediation, in particular through Application Programming Interfaces (“APIs”). While buying and selling Inscriptions, you are not buying or selling these Inscriptions with us but with a third-party buyer or seller.

3. Marketplace Services.

While using the Marketplace Services, you may (i) create (deploy and mint) Inscriptions, (ii) buy Inscriptions from third-parties and (iii) sell Inscriptions to third-parties (“Marketplace Services”).

4. Fees.

We may charge you fees in exchange for the Services, in which case the fees that will be charged to you before each transaction will be disclosed and agreed before concluding a transaction.

You may also incur network fees and other blockchain-related charges specific to the nature of inscriptions protocols (e.g. BRC-20).

5. Liability.

5.1. Marketplace Services

Users acknowledge and accept that our liability is limited to its role as an intermediary in the context of the Marketplace Services. We may not be held liable for any cause beyond its control or for any breach of terms and in particular in the following cases: (i) any direct or indirect damage suffered by a User or a third party in the context of the buying or selling of Inscriptions, or in connection therewith, since as an intermediary, We are not a party to the transaction between Users or between Users and third-parties; (ii) any direct or indirect damage suffered by a User and caused by a third-party with whom the User has transacted with; when a User violates one or more stipulations of these specific provisions.

5.2. Illicit content

As a mere technical intermediary, we are under no general obligation to monitor the activities, information or content stored on the Marketplace, including Inscriptions listed by Users. We may remove or make inaccessible from the Site or any illicit content once We have been duly notified of its existence. Users who notice illicit content on Marketplace are invited to contact PayBitoPro customer support using the following link: https://www.support.paybito.com

The information to be provided by Users concerning such illicit content should include: (i) the date of notification; (ii) the identity of the notifying party; (iv) a description of the illicit content and their precise location; (v) the reasons why the content must be removed (with details of the rules and justification of the facts); and (vi) if applicable, a copy of any correspondence addressed to the author or publisher of the disputed information or activities requesting their interruption, withdrawal or modification, or justification of the impossibility of contacting them.

We are not responsible for the accuracy and reliability of Inscriptions, and more generally for any User generated Inscription or content published on the Marketplace.