Last Updated: April 17th, 2024

KRAKEN WALLET IS A WEB3 SELF-CUSTODY WALLET. THIS MEANS THAT ONLY YOU CONTROL AND HAVE ACCESS TO YOUR WALLET UNLESS YOU GRANT ACCESS TO ANYONE ELSE. KRAKEN WALLET DOES NOT HAVE CONTROL OR ACCESS OF YOUR WALLET. IF YOU CHOOSE TO USE KRAKEN WALLET, YOU ARE DOING SO PURSUANT TO THESE TERMS, AND YOU ARE SOLELY RESPONSIBLE FOR THE CONFIDENTIALITY, SECURITY, STORAGE, MAINTENANCE, BACKUP, AND USE OF KRAKEN WALLET, INCLUDING ANY SECRET RECOVERY PHRASE, PRIVATE KEYS, AND WALLET ADDRESSES. YOU FURTHER ACKNOWLEDGE AND AGREE THAT KRAKEN WALLET HAS NO RESPONSIBILITY OR LIABILITY FOR ANY ACTIVITIES, TRANSACTIONS, OR LOSSES RELATED TO YOUR USE OF KRAKEN WALLET OR THE SERVICES. PLEASE READ THE FOLLOWING TERMS CAREFULLY.

Please read these terms of service, together with any other agreements or terms incorporated by reference, including the Kraken Wallet Privacy Notice (available here and the Kraken Wallet License Agreement (available here) (the "Terms") carefully, as they govern your use of our software services through our website and mobile applications (the “Services”) and are a legally binding agreement between “You” (an individual, or an entity acting through an authorized individual) and Payward Wallet LLC, c/o The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801 if you reside in the United States or Payward Wallet Pte. Ltd., 30 Cecil Street, #19-08 Prudential Tower, Singapore 049712 if you reside outside of the United States (“we”, “us”, “our”, or “Kraken Wallet”).

You may have agreed to applicable third-party terms as part of using or receiving our mobile applications (such as terms for the Apple App Store or Google Play, if applicable).  If these Terms conflict with any such third-party terms, these Terms will control to the extent of the conflict.  

By accessing or using our Services, including by clicking “Import” or “Create Wallet” in the mobile application, You agree to these Terms. The Terms may change at any time and without notice. You should frequently check these Terms for updates. If You continue to access or use our Services after the Terms change, You agree to all changes.

1. DefinitionsTOS

1. "User Content" means any files, data, material and information submitted, uploaded and stored by You through the Services or provided through the Services.
2. "Services" means any applications, products, services, documentation, and software made available by Kraken Wallet.
3. "User Data" means data relating to Your use of the Services, including but not limited to information related to:

1. information obtained by or provided through the Service,
2. settings, preferences chosen, and resource usage,
3. free text submitted by You.

4. "Kraken Wallet" means the software application for creating or importing a self-custody digital asset wallet using the Services.
5. "Personal Data" means any information relating to an identified or identifiable natural person, including names, identification numbers, location data, an online identifier, or to one or more factors specific to the physical, economic, cultural or social identity of a natural person.
6. "You" means you or, if you are entering into these Terms on behalf of a company or another legal entity, the company or other legal entity and its affiliates for which you are accepting these Terms.

2. Eligibility

1. To use any of our Services, You must meet at least the following conditions (“Conditions”):

1. if You are an individual, be old enough to legally form a binding contract in Your jurisdiction (in the USA, that’s 18 years old, but it may be different where You live),
2. if You are an entity, be duly organized and validly existing under the applicable laws of the jurisdiction of Your organization,
3. have full power and authority to enter into these Terms without violating any other agreement You have made,
4. not have been restricted from using our Services,
5. not be located in, under the control of, or organized or resident in any sanctioned or embargoed jurisdiction (including Crimea, Cuba, Donetsk, Iran, Luhansk, North Korea, Russia, and Syria), or any jurisdiction where we may have restricted use of any Services, and
6. if You are an individual, not be listed on—or, if You are an entity, not be directly or indirectly owned or controlled by any person located in, under the control of, or resident in—the Office of Foreign Assets Control of the U.S. Department of Treasury’s Specially Designated Nationals and Blocked Persons List (“SDN”), the U.S. Department of Commerce’s Denied Person’s List, Consolidated Non-SDN Lists available here, the United Nations (UN) Security Council Consolidated List available here, or regional or foreign government watchlists.

2. In addition, You may be required to comply with additional requirements to use the Services in the jurisdiction in which You are located.  We will use reasonable efforts to notify You of such additional requirements, but Your ability to use the Services will be subject to those additional requirements whether notice has been provided or not.  By using the Services, You represent and warrant that You meet all of the Conditions.  If You stop meeting the Conditions, You must immediately tell us and stop using the Services. Even if You meet the Conditions, we may, in our discretion, determine that You’re not eligible to use the Services.

3. Wallet Services

1. Self-Custody Digital Asset Wallet. You may use the Services to create and import self-custody wallet addresses for digital assets, such as cryptocurrencies, NFTs (defined below), and other digital assets (“Digital Assets”). Kraken Wallet allows you to:

1. generate wallet addresses and associated private keys that you may use to send and receive Digital Assets;
2. access third-party services through functionality made available by third party-service provider(s);
3. view Digital Asset price information made available by third party service provider(s); and
4. broadcast Digital Asset transaction data to various blockchains supported by Kraken Wallet without requiring you to download or install the associated blockchain-based software to your local device.

2. Supported Digital Assets. Digital Assets supported by our Services are identified in Kraken Wallet and may change at any time, without notice, at our sole discretion. You are solely responsible for monitoring which Digital Assets are supported by the Services. We’re not liable for discontinuation of support of any particular Digital Asset. While we endeavor to provide notice any time we plan to discontinue supporting any Digital Asset, we reserve the right to discontinue supporting any Digital Asset with or without notice. You acknowledge and agree that we may take any action necessary to discontinue our support of a Digital Asset, including but not limited to removing the ability to transact with or requiring you to remove discontinued Digital Assets from Kraken Wallet in a reasonable period of time, and under no circumstances will we be liable to you for any direct or indirect losses, damages, or costs that you may suffer in connection with any actions or inaction we may take in accordance with these terms to discontinue our support of any Digital Assets.

3. Secret Recovery Phrase, Private Keys. When you create or import a wallet address in Kraken Wallet, a backup phrase will be generated (the “Secret Recovery Phrase”). In the event that the device where Kraken Wallet is installed is lost, stolen, inaccessible, or otherwise unusable, the Secret Recovery Phrase will allow you to recover your wallet address to a new device. When you create a wallet address in Kraken Wallet, you will be assigned a private key. If you import a digital asset wallet to Kraken Wallet, you will be assigned a private key when you create that wallet address. The private keys associated with your wallet can be used with the applicable wallet addresses to transact, including transferring digital assets into or out of the wallet address, with that wallet address. As a self-custody digital asset wallet service, the wallet addresses generated or associated with Kraken Wallet, including any Secret Recovery Phrase and private keys, are only controlled and accessible by you and anyone else you provide control or access. Kraken Wallet does not control nor have access to your digital wallet address, including any associated Secret Recovery Phrase and private keys.

AS SUCH, YOU ACKNOWLEDGE AND AGREE THAT YOU ARE SOLELY RESPONSIBLE FOR THE CONFIDENTIALITY, SECURITY, STORAGE, MAINTENANCE, BACKUP, AND USE OF KRAKEN WALLET, INCLUDING ANY SECRET RECOVERY PHRASE, PRIVATE KEYS, AND WALLET ADDRESSES. YOU FURTHER ACKNOWLEDGE AND AGREE THAT PAYWARD WALLET HAS NO RESPONSIBILITY OR LIABILITY FOR ANY ACTIVITIES, TRANSACTIONS, OR LOSSES RELATED TO KRAKEN WALLET OR THE SERVICES.

4. Suspension; Discontinuation; Termination. We can, at any time and without liability or prior notice to You, modify or discontinue our Services (or any parts of them); suspend, restrict, or terminate access to our Services; or reject any transaction or use of the Service.
5. Software. Some Services may require you to download software. If any software is offered to you under an open source license, the provisions of that license shall apply notwithstanding any provisions to the contrary under these Terms. 

4. Charges. We may charge you for certain Services. If we charge any fees for any Services, the charges for such Services, and any additional terms and conditions applicable thereto will be detailed in such Services.

5. Third party Services. When using our Services, You may have the opportunity to use third-party services in connection with our Services.  We do not control or endorse any third-party services and are not liable to You for third-party content or services in any way.  Your use of third-party content or services may be subject to additional terms and conditions with third-party providers, and we are not part of those terms or conditions. Your use of the Services may also incur third-party fees, such as fees associated with third-party services, or other fees, such as gas fees.  You’re solely responsible for paying all such fees. If any third-party terms and conditions conflict with these Terms, You agree that these Terms control. Under no circumstances shall Kraken Wallet incur any liability, of any kind, to you arising from or relating to fees charged to you by third-party services linked to or accessed through our Services. Additionally, if, to the extent permitted by the Services, you grant express permission to a third party to access or connect to your digital asset wallet, either through the third party’s product or service or through Kraken Wallet, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under these Terms. You are fully responsible for all acts or omissions of any third party with access to your wallet.

In addition, we may make available to you additional information about Digital Assets provided by third parties (“Third-Party Digital Asset Materials”), including in the form of “token lists” that provide additional information on certain Digital Assets that have been reviewed by the third party. Third-Party Digital Asset Materials are provided “as-is” for information purposes only, and you assume any risk in using or relying on any Third-Party Digital Asset Materials. Kraken Wallet does not make any representations or warranties regarding the accuracy, completeness, or reliability of Third-Party Digital Asset Materials.

6. Taxes. You alone are responsible for determining what taxes apply to Your use of the Services, and for reporting and remitting the correct taxes to the appropriate tax authorities.  You agree that we have no responsibility or liability for determining what taxes apply or for collecting, reporting, withholding, or remitting any taxes arising from any transactions.

7. Use of Data. The Services may collect User Data, and You hereby grant Kraken Wallet permission to collect User Data and to use such User Data for the purposes of providing the Services, to improve the Services performance and functionality, improve services and support to the users of the Services, and for other business purposes, including monitoring, statistical data gathering, diagnostics, comparative analyses, complementary solutions usage, security and software integrity assurance, support, and billing. Kraken Wallet may use various analytics tools in performing the above. The Services do not provide an opt-out option from the use of such analytics tools and therefore You should refrain from registering for the Services if You do not agree to the use of analytics tools in connection with Your User Data. Where applicable, User Data collected by the Services will be shared with You or any third-party service who may provide You with supplementary services in connection with the Services. Kraken Wallet may further use User Data as set forth in its Privacy Notice referenced above.

8. Your User Content. You may have the opportunity to transmit content or materials in or through our Services (“Your Content”, excluding Personal Data).  You grant us a perpetual, irrevocable, royalty-free, worldwide, fully sublicensable, non-exclusive right and license to use, copy, reproduce, display, perform, distribute, and create derivative works of Your Content in any manner for the purpose of providing the Services. Further, you represent and warrant that Your Content does not infringe, misappropriate, or otherwise violate any intellectual property rights or other rights of any person. If you store non-fungible tokens (“NFTs”) in your digital asset wallet, you acknowledge and understand that NFTs are Your Content. We do not review or monitor NFTs or content associated with the NFT (“NFT Content”) transmitted through or stored on Kraken Wallet, including for any infringement of a third party’s intellectual property rights. You acknowledge and agree you are solely responsible for all your activities relating to NFTs and NFT content you transmit through or store on Kraken Wallet, and you release Kraken Wallet from any responsibility or liability regarding NFTs and NFT Content.

9. Use Obligations and Restrictions. 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 the Services. Without limiting the generality of the foregoing, you agree, and represent and warrant, that you will not:

1. Use the Services in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying the Services, or that could damage, disable, overburden or impair the functioning of the Services in any manner;

2. Use the Services to pay for, support or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or other illegal activities;

3. Use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access the Services or to extract data;

4. Use or attempt to use another user’s wallet without authorization;

5. Attempt to circumvent any content filtering techniques we employ, or attempt to access any Services that you are not authorized to access;

6. Develop any third-party applications that interact with the Services without our prior written consent;

7. Provide false, inaccurate, or misleading information; or

8. Encourage or induce any third party to engage in any of the activities prohibited under this Section.

        Further, you agree to, and represent and warrant that You will not share your Secret Recovery Phrase with anyone else; maintain the security of your digital asset wallet; and take responsibility for all activities that occur in your digital asset wallet, and accept all risks of any authorized or unauthorized access to your digital asset wallet, to the maximum extent permitted under applicable law. We may, in our discretion, determine that it is necessary or appropriate to temporarily suspend or even terminate Your use of the Services. You are solely responsible for all acts and omissions that occur using your digital asset walle and the Services, and You will be deemed to have made all actions taken using your digital asset wallet and the Services. 

10. Our Intellectual Property Rights

1. Kraken Wallet was developed under an MIT license. Information regarding the license for Kraken Wallet’s current software can be found here. 
2. Our Content. We or our licensors own (1) our Services, (2) all content, materials, software, and trademarks found on them, (3) the selection and arrangement of them, and (4) all intellectual property rights in them (collectively, “Our Content”).  So long as You comply with these Terms, You’re permitted to use our Services, and Our Content made available to You as part of our Services, but only for Your own benefit and Your own use of the Services.  We can take away this permission at any time for any reason. You don’t have or acquire any rights to Our Content beyond the limited, revocable permission in the previous sentence.
3. Feedback. You may provide us feedback, suggestions, or ideas relating to our Services (“Feedback”).  You represent and warrant that You have the right to provide us any Feedback that You provide.  You agree that we will own all Feedback, and You hereby irrevocably assign all right, title, and interest in and to all Feedback to us.

11. Indemnification. You agree to defend, indemnify, and hold harmless us and our officers, directors, members, employees, and agents, from any claim, demand, action, damage, loss, cost, or expense (including reasonable attorneys’ fees) relating to (1) Your use of our Services, (2) Your violation of these Terms, (3) Your infringement, misappropriation, or violation of the rights of any other person or entity, (4) any content, materials, or information (in any form or medium) that You submit, post, upload, provide, contribute, or make available (or authorize or instruct us to do so) through the Services, and (5) any Feedback.  If You’re obligated to indemnify us, we have the right to control any action if we want and You cannot settle any action without our consent, unless the settlement is only for money damages which You entirely pay.

12. Disclaimers of Warranties. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, OUR SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS.  WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT RELATING TO OUR SERVICES AND PLATFORMS.  WITHOUT LIMITING THE FOREGOING, WE DISCLAIM THAT OUR SERVICES OR PLATFORMS WILL BE AVAILABLE, ACCURATE, SECURE, USEFUL, UNINTERRUPTED OR ERROR-FREE; THAT DEFECTS WITH OUR SERVICES OR PLATFORMS CAN OR WILL BE CORRECTED, OR THAT THE SERVERS THAT MAKE THEM AVAILABLE ARE FREE FROM VIRUSES OR OTHER HARMFUL COMPONENTS.  WE DO NOT PROVIDE ANY UPTIME GUARANTEES, AND WE MAY DISCONTINUE MAKING OUR SERVICES OR PLATFORMS AVAILABLE TO YOU AT ANY TIME AT OUR SOLE DISCRETION.

13. Limitation of Liability. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NEITHER WE NOR OUR DIRECTORS, MEMBERS, EMPLOYEES OR AGENTS WILL BE LIABLE WITH RESPECT TO ANY CLAIM RELATED IN ANY WAY TO THESE TERMS,  OUR SERVICES OR OUR PLATFORMS FOR (1) ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, OR DATA AND (2) TO THE EXTENT NOT ALREADY EXCLUDED, ANY AMOUNTS EXCEEDING $100 UNITED STATES DOLLARS.

14. Term and Termination

1. Term. These Terms commence on the date you first use the Services and will remain in effect until these Terms are terminated.
2. Termination. You may stop using the Services at any time. We may suspend or terminate your access to the Services at any time at our discretion and without notice. Upon termination of the Services to You, You will no longer be able to use the Services.
3. Survival. The provisions of these Terms that, by their nature and content, must survive the termination of these Terms in order to achieve the fundamental purposes of these Terms shall so survive. Without limiting the generality of the foregoing, the Intellectual Property Rights, Disclaimers of Warranties, Limitation of Liability, Governing Law and Jurisdiction and General sections, will survive the termination or expiration of the Terms.

15. Dispute Resolution; Arbitration; Applicable Law

PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE DISPUTES WITH US AND IT LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF.

You and Kraken Wallet agree to arbitrate any dispute arising from these Terms or Your use of the Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL. You and Kraken Wallet agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Kraken Wallet shall be sent to [email protected]. You and Kraken Wallet further agree: (a) to attempt informal resolution prior to any demand for arbitration; (b) that any arbitration will occur in San Francisco, California; (c) that arbitration will be conducted confidentially by a single arbitrator in accordance with the rules of JAMS; and (d) that the state or federal courts in San Francisco, California have exclusive jurisdiction over any appeals of an arbitration award and over any suit between the parties not subject to arbitration. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Any dispute between the parties will be governed by these Terms and the laws of the State of California and applicable United States law, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction. Whether the dispute is heard in arbitration or in court, You and Kraken Wallet will not commence against the other a class action, class arbitration or representative action or proceeding.

16. General

1. Changes to Terms. Kraken Wallet may change the Terms from time to time, and such change will become effective upon the date on which it is posted through the Services. You are responsible for checking the website regularly for such changes. By continuing to access or use the Services you agree to be bound by the revised Terms.
2. Force Majeure. We are not responsible or liable for any errors, delays, losses, or damages arising from any event beyond our reasonable control (“Force Majeure Events”).  Force Majeure Events include flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction.
3. Severability. If any part of these Terms is deemed unlawful, void or for any reason unenforceable, then that provision shall be deemed to be severable from the rest of these Terms and shall not affect the validity and enforceability of any of the remaining provisions of these Terms. In such cases, the part deemed invalid or unenforceable shall be construed in a manner consistent with applicable law to reflect, as closely as possible, the original intent of the parties.
4. Waiver. If we do not exercise any of our rights under these Terms, we are not waiving such rights.
5. Assignment. You cannot assign or transfer any of Your rights or obligations under these Terms without our prior written consent.  We can assign or transfer any of our rights or obligations under these Terms, in whole or in part, without Your consent. In addition, if we are acquired by or merged with a third party entity, we reserve the right to transfer or assign the information we have collected from You as part of such merger, acquisition, sale, or other change of control.
6. No Third Party Rights. There are no third-party beneficiaries to these Terms.
7. Relationship. We do not provide investment or tax advice, including in connection with Your use of the Services.  You agree not to rely upon any statement or content on our Services or Platforms, or that is otherwise attributed to us, as a recommendation, advice, or guidance regarding trades, investments, tax, or any other similar issues.  We also are not acting as Your bank, broker, intermediary, agent, advisor, or as Your fiduciary in any capacity, including with respect to the Services.

Nothing in these Terms shall be deemed to or is intended to be deemed to, nor shall it, cause You and us to be treated as partners, joint venturers, or otherwise as joint associates for profit.

8. Entire Agreement. These Terms are the entire agreement between You and us, and supersede all prior and contemporaneous understandings between You and us about our Services.