These Terms of Service ("Terms") are an agreement between you and [operator's legal name] ("nowcoin", "we", "us", "our"), of [registered address]. They govern your use of the nowcoin website, apps and browser extension, and the custodial stablecoin wallet service we provide through them (together, the "Service").
By creating an account you confirm that you have read and accept these Terms and our Privacy Policy. If you do not accept them, do not use the Service.
1. Who can use nowcoin
1.1 You may open and use an account only if all of the following are true:
- you are at least 18 years old and have full legal capacity to enter into a binding contract;
- you are opening the account for yourself, and not on behalf of anyone else;
- you do not live in, and are not located in, a country or region where we do not offer the Service. At the date of these Terms these include Cuba, Iran, North Korea and Syria, and the Crimea, Sevastopol, Donetsk and Luhansk regions of Ukraine. We may change this list at any time;
- you are not named on, or owned or controlled by anyone named on, a sanctions list maintained by the United Nations, the United States, the European Union, the United Kingdom or any other authority whose sanctions apply to us;
- using the Service is lawful for you where you live; and
- we have not previously closed an account of yours because you broke these Terms.
1.2 You may hold only one account.
2. Your account
2.1 Accurate information. You must give us accurate, current and complete information when you open your account, including your legal name and residential address exactly as they appear on your identity documents, and keep that information up to date.
2.2 Verification. We may ask you at any time to verify your identity, your address or the source of your funds, and to provide documents for that purpose. We may limit or suspend your account until we have completed the verification we need.
2.3 Keeping your account secure. You are responsible for keeping your password secret and your devices secure, and for all activity on your account that results from your failure to do so. Tell us without delay if you believe someone has accessed your account without your permission. You can end every signed-in session at once from your account settings. We will never ask you for your password.
2.4 Automated access. You must not create accounts, sign in or use the Service by automated means, such as bots or scripts, except through interfaces we publish for that purpose, and you must not attempt to bypass any human-verification check or rate limit.
3. The Service
3.1 What nowcoin does. nowcoin lets you hold the stablecoins USDT and USDC with us, receive them on the blockchain networks we support, and send them to addresses on those networks. We show you a single balance for each stablecoin, whichever of the supported networks your stablecoins arrived on.
3.2 Supported assets and networks. We currently support USDT and USDC on BNB Smart Chain and TRON. We may add or remove assets and networks. Before we stop supporting an asset or network on which you hold a balance, we will give you reasonable notice so that you can send it elsewhere.
3.3 Custody. The stablecoins that back your balance are held in wallets that we control on the supported networks, pooled with those that back other customers' balances. Your balance is recorded in our ledger, which records every movement twice so that it can be reconciled at all times. We do not lend, pledge or otherwise use the stablecoins that back customer balances, and we aim to hold at all times stablecoins at least equal to the total of all customer balances. You do not have access to, or control of, the private keys to these wallets.
3.4 No interest and no advice. We do not pay interest or any other return on balances. We do not give investment, financial, legal or tax advice. You are responsible for any taxes that apply to your transactions.
3.5 Not a bank. nowcoin is not a bank. Stablecoins are not legal tender, are not bank deposits and are not protected by any government deposit-insurance scheme.
4. Receiving stablecoins
4.1 Deposit addresses. We give you a deposit address for each supported network. Send only the supported stablecoins, on the network shown, to that address. Anything sent on another network, any unsupported token and any other coin may be lost permanently. We are not obliged to recover such assets, although we may try at our discretion and may charge you the cost of doing so.
4.2 When a deposit is credited. A deposit is credited to your balance once the network has confirmed it the number of times shown on your deposit page. Until then it is shown as pending and cannot be spent.
4.3 Reversals. If a reorganisation of the blockchain removes a transaction that we have credited, we will reverse the credit. If your balance is not enough to cover the reversal, you owe us the difference.
5. Sending stablecoins
5.1 Your instructions. To send stablecoins you choose the asset, the amount, the destination network and the destination address. You are responsible for making sure the address and the network are correct. Blockchain transactions cannot be reversed: once a transaction has been sent, neither we nor anyone else can recall it.
5.2 Moving funds between networks. If the stablecoins that back your balance are held on a network other than the one you choose, we may move the required amount between networks before sending, using our own holdings or third-party bridge or exchange services. This can take additional time. The fee we show you before you confirm includes any cost of moving funds that we pass on to you.
5.3 Timing, delays and refusals. We aim to send promptly, but sending depends on the state of the network and of third-party services, and can be delayed. We may delay or refuse a withdrawal where we reasonably suspect fraud, unauthorised use of your account or a breach of these Terms or of the law, or where the law requires us to.
5.4 Minimums and limits. Withdrawals are subject to minimum amounts and to limits that may depend on your level of verification. The limits that apply to you are shown in the Service.
5.5 Retrying safely. If your connection fails while you are sending, repeating the same request will not send the payment twice.
6. Fees
6.1 We charge a fee for each withdrawal, which we show you before you confirm it. The fee covers the network fee and our service fee. You do not need to hold the network's own coin, such as BNB or TRX: the fee is deducted from your balance in the stablecoin you are sending.
6.2 We do not charge for receiving stablecoins. We may change our fees. A change applies only to transactions you confirm after the change takes effect.
7. Risks you accept
You understand and accept that:
- a stablecoin is only as stable as its issuer and the reserves behind it. USDT is issued by Tether and USDC by Circle; nowcoin is not affiliated with either. A stablecoin may lose its peg to the currency it tracks, be frozen by its issuer, or be redeemable for less than its face value, and we are not responsible for the acts or omissions of any issuer;
- blockchain networks can be congested, forked, attacked or halted, and smart contracts, bridges and other third-party services can fail;
- the laws that apply to digital assets are changing and may affect our ability to offer all or part of the Service where you live; and
- you may lose stablecoins that you send to a wrong address or on a wrong network.
8. What you must not do
You must not use the Service to:
- break any law, including laws on money laundering, terrorist financing, sanctions, fraud and tax evasion;
- receive or send the proceeds of crime, or transact with anyone who is subject to sanctions;
- use an account that is not yours, or allow anyone else to use yours;
- give false information, or impersonate any person;
- interfere with, disrupt, test the security of or attempt to gain unauthorised access to the Service or the systems it runs on, or reverse-engineer it except where the law allows you to; or
- create accounts or submit requests by automated means, or bypass any human-verification check or rate limit.
9. Compliance, suspension and closing your account
9.1 We may suspend or restrict your account, or refuse or hold a transaction, where we reasonably believe this is necessary to comply with the law, to protect you, us or others, or because you have broken these Terms. Where the law allows, we will tell you why.
9.2 We may be required by law to report transactions to the authorities, and to freeze funds when a competent authority instructs us to.
9.3 You may close your account at any time by sending your balance out and contacting us. We may close your account on reasonable notice, or immediately if you seriously break these Terms or the law requires us to. When your account is closed you may send any remaining balance to an address you control, unless the law prevents this.
10. Intellectual property
The Service, including its software, design, text, images and trademarks, belongs to us or our licensors. We grant you a personal, non-exclusive, non-transferable licence to use the Service as these Terms allow. The place names in the address form are derived from the countries-states-cities database and are available under the Open Database License (ODbL).
11. Your personal data
How we collect and use your personal data is explained in our Privacy Policy, which forms part of these Terms.
12. Disclaimer
The Service is provided "as is" and "as available". To the fullest extent the law allows, we give no warranty, express or implied, that the Service will be uninterrupted, error-free or secure.
13. Our liability
13.1 Nothing in these Terms excludes or limits any liability that cannot be excluded or limited by law, including liability for fraud, or for death or personal injury caused by negligence, or any right you have as a consumer under mandatory law.
13.2 Subject to section 13.1, we are not liable for losses caused by your breach of these Terms, by your own mistakes (including sending to a wrong address or on a wrong network) or by the compromise of your devices or credentials; for the acts or omissions of stablecoin issuers, blockchain networks or third-party services; or for any indirect or consequential loss, or loss of profit.
13.3 Subject to section 13.1, our total liability to you for all claims relating to the Service is limited to the greater of the fees you paid us in the twelve months before the claim arose and 100 US dollars, except that where a loss results from our failure to credit or return stablecoins we hold for you, our liability is the value of those stablecoins.
14. Indemnity
If you break these Terms or the law in using the Service, you agree to compensate us for the reasonable losses and costs we incur as a result, to the extent the law allows.
15. Changes to these Terms
We may change these Terms. We will tell you about material changes in advance, normally at least 30 days before they take effect, unless a change is required sooner by law or for security reasons. If you do not agree to a change, you may close your account before it takes effect; if you keep using the Service after that, you accept the change. We may ask you to read and accept a new version before you continue to use the Service.
16. Governing law and disputes
These Terms are governed by the laws of [jurisdiction]. The courts of [place of the competent courts] have jurisdiction over any dispute. If you are a consumer, you may also bring proceedings in the courts where you live, and you keep the protection of the mandatory laws of your country of residence.
17. General
17.1 These Terms and the Privacy Policy are the whole agreement between you and us about the Service.
17.2 If any part of these Terms is found to be invalid or unenforceable, the rest remains in effect.
17.3 We may transfer our rights and obligations under these Terms to another company as part of a reorganisation or sale of our business. You may not transfer yours without our written consent.
17.4 If we do not enforce a right, or delay doing so, we have not waived it.
17.5 These Terms are written in English. Translations are provided for your convenience; if a translation differs from the English version, the English version applies unless mandatory law requires otherwise.
18. Contact
[operator's legal name], [registered address]. Email: [contact email address].