Porto Terms of Use

Last updated: 03.06.2019

PLEASE READ THESE TERMS OF USE CAREFULLY. BY ACCESSING OR USING THE SITE OR APPLICATION, YOU AGREE TO BE BOUND BY THE TERMS DESCRIBED HEREIN AND ALL TERMS INCORPORATED BY REFERENCE. IF YOU DO NOT AGREE TO THESE TERMS, DO NOT USE THE SITE SITE OR APPLICATION.

Welcome to Porto

Porto is a cryptocurrency wallet provider that enables its users to transfer cryptocurrency to and from bitcoin.

Starting to use the Porto and/or its individual functions (hereinafter referred to as the Service) using any device adapted for its use, and having passed the registration or authorization procedure, the User, by ticking the “I agree with the Terms of Use” box and clicking the “Register” button confirms that he has read the present Rules for using the Service (hereinafter referred to as the Rules) and understands their content, and therefore is considered to be one who has accepted the Rules in full, without any reservations and exceptions, and made a commitment to firmly implement them. In case of disagreement of the user with any of the provisions of the Rules, the User is not entitled to use the Service.

Your use of the services will be governed by this Agreement, along with the Porto Privacy Policy and Porto AML/KYC Policies. Please read through this Agreement, Privacy Policy and AML/KYC Policies carefully before accepting them.

The objectives and procedure for the collection, storage, use and disclosure of personal data in the process of using the Service are regulated by the Privacy Policy.

The procedures for anti-money laundering and conter financing terrorism compliance are regulated by the AML/KYC Policy posted at the link ??? .

Porto hereby reminds you that:

  1. The cryptocurrencies themselves are not offered by any financial institution, corporation or this Website;
  2. The cryptocurrency market is new and unconfirmed, and will not necessarily expand;
  3. Cryptocurrencies are primarily used by speculators, and are used relatively less on retail and commercial markets; cryptocurrency transactions are highly risky, due to the fact that they are traded throughout the day without limits on the rise or fall in price, and market makers and global government policies may cause major fluctuations in their prices;

Porto may suspend or terminate your account or use of the Service, or the processing of any cryptocurrency transaction, at any time if it determines in its sole discretion that you have violated this Agreement or that its provision or your use of the Service in your jurisdiction is unlawful.

USE OF THE SERVICE BY PERSONS LOCATED IN THE UNITED STATES OF AMERICA, TERRITORY OR INSULAR POSSESSION OF THE UNITED STATES, US SANCTIONS COUNTRIES (CUBA, VENEZUELA, IRAN, NORTH KOREA, SUDAN, OR SYRIA OR ANY OTHER COUNTRY SUBJECT TO UNITED STATES EMBARGO, UN SANCTIONS, HM TREASURY'S FINANCIAL SANCTIONS REGIME) CANADA, THE SWISS CONFEDERATION, BAHAMAS, BOTSWANA DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA, ETHIOPIA, GHANA, IRAN, PAKISTAN, SERBIA, SRI LANKA, SYRIA, TRINIDAD AND TOBAGO, TUNISIA, YEMEN, BOLIVIA AND SAUDI ARABIA IS PROHIBITED.

You acknowledge and understand that investment in cryptocurrencies may result in partial or total loss of your investment and therefore you are advised to decide the amount of your investment on the basis of your loss-bearing capacity. Furthermore, aside from the above-mentioned risks, there may also be unpredictable risks. Therefore, you are advised to carefully consider and use clear judgment to assess your financial position and the abovementioned risks before making any decisions on buying and selling cryptocurrency; any and all losses arising therefrom will be borne by you and The Administrator shall not be held liable in any manner whatsoever.

According to these Rules, the Administrator of the Application represented by VALCCOM Sp. Z o.o (hereinafter referred to as the Administrator) offers an unlimited number of persons to use this Service under the conditions set forth below:

  1. 1. GENERAL PROVISIONS

    1. User - a registered eligible and capable individual who has registered/authorized and uses the Service in accordance with the Rules.
    2. Service - information platform Porto Wallet as a mobile application, available for download on the App Store and Google Play, and a website accessible via the link https://portowallet.com which is used by the Administrator to provide Services to Users and for interaction between Users in accordance with these Rules.
    3. User Account - a record containing the User authorization data (username and password) necessary to identify the User when using the Service, as well as his personal data and other personalized information.
    4. Personal Account is a functional part of the Service interface, access to which the User receives after creating an Account, and which displays information about the address of the User's cryptocurrency wallet, the number of User Cryptocurrency, the average market value of Cryptocurrency in USD equivalent or other currency provided by XE.com Inc.
    5. Personal account balances are part of the Service interface, which displays the amount of Cryptocurrency that is at the user's disposal.
    6. Bonus balance is a part of the Service interface, which displays the number of bonus units received by the User as a result of participation in programs, including promotional, and which can be used by the User to receive the services offered in the Service.
    7. Cryptocurrency - records in the Blockchain electronic decentralized registry, the value of which is determined by the market, which are encrypted using cryptography, which guarantees their safety, immutability and security of all transactions conducted with their use, and which are not excluded or limited in civil law circulation in accordance with the current legislation.
    8. Blockchain - a distributed data storage technology that is resistant to resistant to any interventions and falsifications, which is supported by an unlimited amount of computing power aimed at checking the validity of the information in it.
    9. Address book - a list of addresses of the User's Personal Account, the phone numbers of which are synchronized with the phone book of the User’s mobile device on which the Service is installed.
    10. Cryptocurrency wallet – a software that generates an address for receiving and sending Cryptocurrency, and also contains private keys for signing of Cryptocurrency transactions.
  2. 2. SERVICES

    1. Services provided by the Administrator to the User include, but are not limited to:
      1. providing the Service for free download on the AppStore and Google Play;
      2. ensuring the operation of the Service, starting from the moment of its installation until the moment of removal from the mobile device;
      3. providing the ability to send and/or receive Cryptocurrency from other Users by using the Service;
    2. The operations of sending and/or receiving Cryptocurrencies between the Personal Accounts of the Users inside the Service, which are displayed by the Service as a change in the Balances of the Personal Accounts of the Users, are carried out instantly.
    3. The operations that result in Cryptocurrency transactions (sending and/or receiving Cryptocurrencies between User Personal Account, sending and/or receiving Cryptocurrencies to Cryptocurrency wallets that are outside the Service) are subject to a Service Commission, as well as the system itself Blockchain.
    4. The Administrator is obliged to provide the Services specified in clause 2.1 of these Rules only if the User has access to the Internet. The Administrator securely stores Cryptocurrency private keys, which are the means by which you can securely approve a Cryptocurrency Transaction. The Administrator securely stores private keys in our control in a combination of online and offline storage. As a result, it may be necessary for us to retrieve certain information from offline storage in order to facilitate a Cryptocurrency Transaction in accordance with your instructions, and you acknowledge that this may delay the initiation or crediting of such Cryptocurrency Transaction.
  3. 3. CONDITIONS OF SERVICE USE

    1. The services can only be used by competent persons who have reached the age of 18, only of their own free will.
    2. The Administrator will process cryptocurrency transaction in accordance with the instructions the Administrator receive from the User. The User should verify all transaction information prior to submitting instructions to the Administrator. The Administrator does not guarantee the identity of any user, receiver, requestee or other party. The Cryptocurrency Transactions cannot be reversed once they have been broadcast to the relevant Cryptocurrency network.
    3. If you initiate a Cryptocurrency Transaction by entering the recipient's email address and the recipient does not have an existing Porto Account, The Administrator will invite the recipient to open a Porto Account. If the recipient does not open a Porto Account within 30 days, The Administrator will return the relevant Cryptocurrency to your Cryptocurrency Wallet.
    4. Once submitted to a Cryptocurrency network, a Cryptocurrency Transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the Cryptocurrency network. A Cryptocurrency Transaction is not complete while it is in a pending state. Cryptocurrency associated with Cryptocurrency Transactions that are in a pending state will be designated accordingly, and will not be included in your Cryptocurrency Wallet balance or be available to conduct Cryptocurrency Transactions.
    5. The Administrator may charge network fees (miner fees) to process a Cryptocurrency Transaction on your behalf. The Administrator will calculate the network fee in its discretion, although The Administrator will always notify you of the network fee at or before the time you authorise the Cryptocurrency Transaction.
    6. The Administrator may refuse to process or cancel any pending Cryptocurrency Transaction as required by law or any court or other authority to which Porto is subject in any jurisdiction.
    7. User Registration is required to access the Personal Account of the Service.
    8. To register, the User must provide a unique mobile number. The mobile phone number specified by the User during registration on the Service is the login. To confirm the accuracy of the data and verification of the User to the specified phone number, the User receives an SMS message with an access password in cases of primary authorization after registering on the Service, as well as each time they log in from the new device. The Administrator reserves the right to change the registration form fields and require User input additional information.
    9. The Administrator reserves the right to restrict access to the Personal Account to the Users who, upon registration, indicated false information, and also does not undertake to verify and change the information that is entered by the Users during registration.
    10. After registration, the mobile phone number and password specified by the User are sufficient information for the User’s access to the Personal Account. The user is not entitled to transfer his data for access to the Personal Account to third parties, and is solely responsible for their safety, independently choosing the method of their storage.
    11. The loss of a mobile phone number is equal to the loss of control over the Cryptocurrency, which is stored on the Balance in the Personal Account of the User. In the security settings of the Personal Account, the User can go through the procedure of additional account protection in order to be able to restore access to the Personal Account in case of loss of the mobile phone number required for authorization in the Service.
    12. In case of unauthorized access to the User’s Personal Account and/or unauthorized distribution of the User’s data to access the Personal Account, the User is obliged to immediately notify the Administrator through the Support Service.
    13. Unless the User proves otherwise, any actions performed in the User’s Personal Account are deemed to be committed by the respective User.
  4. 4. ADMINISTRATOR

    1. The Administrator grants the User a non-exclusive, free, non-transferable right to use the software in order to use the Service in accordance with its purpose and these Rules.
    2. The administrator owns intellectual property rights to the program code, design, structure of the Service, as well as to any information accessible through the Service, with the exception of information created by the Users themselves.
    3. The user undertakes not to investigate the code, not to decompile or disassemble the Service, not to modify the Service, and not to create derivative products based on the application or its parts.
    4. If a new version of the Service is released and/or new functions are added to it, the Service can be automatically updated on the user's mobile device.
    5. To register a User as an Agent, the Administrator has the right to request documents that confirm the identity of the Agent, for his identification and verification in the Service.
    6. The User is prohibited to use the Service and additional modules (sites) to it for
      • aiding, promoting, and/or selling the following products / services:
      • weapons, firearms, their components, etc. products;
      • ammunition, cartridges, gunpowder, fireworks, explosives;
      • vehicles that are wanted or without proper documentation;
      • drugs and other medications;
      • unpacked or falsified food or cosmetics;
      • child pornography;
      • any intimate services ;
      • false, misleading, deceptive or fraudulent content;
      • personal, identifying, confidential information or trade secrets;
      • hacking tools, including using electronic computing devices;
      • identity cards, licenses, insignia, government documents, birth certificates, etc .;
      • any other goods, services, information prohibited and/or restricted in public circulation.
    7. In the event of the Administrator’s suspicion about the implementation by the User of the activities specified in clause 4.6 of the Rules, he reserves the right to block the possibility of using the Service until the necessary circumstances have been clarified.
    8. The Administrator reserve the right at any time to verify your identity for the purpose of complying with the Poland`s Act of 1 March 2018 on counteracting money laundering and terrorist financing.
    9. The User is solely responsible for his actions that he performs using the Service.
    10. All disputes between Users, which are not related to the technical issues of its use, are resolved without the intervention of the Administrator.
  5. 5. ORDER OF SERVICE

    1. In order to make a Cryptocurrency transfer, the User must specify the Cryptocurrency amount in the Personal Account, and in the Address Book, select the User who will act as the Cryptocurrency recipient, and then initiate the Cryptocurrency transfer.
    2. In order to make a Cryptocurrency transfer to an external Cryptocurrency storage service (other cryptocurrency wallets, cryptocurrency exchanges, etc.), the User must manually enter the address of the Cryptocurrency purse of the external service, or scan its QR code, and initiate the Cryptocurrency translation.
    3. At the time of making a Cryptocurrency transfer between Users, the Service withdraws its part as a system commission for making a transaction. The amount of the Service commission is indicated in the corresponding section of the Service interface.
    4. In the case of Cryptocurrency transfers to Cryptocurrency wallets created outside the Service, the Commission can be withdrawn by the Blockchain system for confirming such transfers. The service does not install and does not affect the commissions of the Blockchain system aimed at maintaining the network and confirming transactions.
  6. 6. SUPPORTED CRYPTOCURRENCIES

    1. Porto`s services are available only in connection with bitcoin cryptocurrency.
    2. If The Administrator decide to support a new cryptocurrency, unless otherwise communicated by us, these Terms of Service, including any reference to bitcoin, shall be equally applied to the new cryptocurrency.
    3. The Administrator cannot guarantee that the decisions will be suitable, desirable or practical to you. If you are concerned about our decisions, stances or the lack thereof regarding any given blockchain fork or new cryptocurrency, The Administrator recommend that you withdraw your balance and handle the situation on your own as you see fit. The Administrator are not in any circumstance liable for any damage, losses, expenses or harm resulting to you from the use of our rights under this Section.
  7. 7. ALLOWED JURISDICTIONS

    1. To use services provided by Porto you may need to fulfill certain legal obligations in your country and/or state of residence. By accepting these terms and service you confirm that you have reviewed your local laws and regulations and that you are aware of, and fulfill, any and all such obligations.
    2. Porto does not offer the use of its services in certain jurisdictions, by accepting these terms of service you confirm that you are not a resident or governed by the laws and regulations of the THE UNITED STATES OF AMERICA, TERRITORY OR INSULAR POSSESSION OF THE UNITED STATES, US SANCTIONS COUNTRIES (CUBA, VENEZUELA, IRAN, NORTH KOREA, SUDAN, OR SYRIA OR ANY OTHER COUNTRY SUBJECT TO UNITED STATES 6EMBARGO, UN SANCTIONS, HM TREASURY'S FINANCIAL SANCTIONS REGIME) CANADA, THE SWISS CONFEDERATION, BAHAMAS, BOTSWANA, DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA, ETHIOPIA, GHANA, IRAN, PAKISTAN, SERBIA, SRI LANKA, SYRIA, TRINIDAD AND TOBAGO, TUNISIA, YEMEN, BOLIVIA AND SAUDI ARABIA.
  8. 8. WARRANTIES AND LIMITATION OF LIABILITY

    1. The User confirms that the User is aware of all the risks associated with cryptocurrency market, its legal regulation in various jurisdictions and understands that the Company is not responsible for the cost of the cryptocurrency the User is dealing with while using Porto products and services. Under no circumstances the Affiliates will be liable for any damages including general, special, direct, indirect, incidental, consequential, punitive or any other damages (including, without limitation, lost profits or business interruption) of any kind whether in an action in contract or negligence arising or relating in any way to the use or inability to use by any party of the content, the Site or any third- party site to which this Site is linked, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even if the Affiliates, or representatives thereof, are advised of the possibility of such damages, losses or expenses.
    2. The Affiliates are not liable for any defamatory, offensive or illegal conduct of the User. The User’s sole remedy for dissatisfaction with this Site is to stop using the Site. If the User uses materials from this Site results in the need for servicing, repair or correction of equipment or data, the User assumes any costs thereof. If the foregoing limitation is found to be invalid, the User agrees that the Affiliates’ total liability for all damages, losses, or causes of action of any kind or nature shall be limited to the greatest extent permitted by applicable law.
    3. Neither the Administrator, nor any of its affiliates, providers or their respective officers, directors, employees, agents, independent contractors or licensors (jointly - the «Affiliates») guarantees the accuracy, adequacy, timeliness, reliability, completeness or usefulness of any of the Content and the Affiliates disclaim liability for errors or omissions in the Content. This Site and all of the Content is provided «as it is» and «as available» without any warranty, either express or implied, including the implied warranties of merchantability, suitability for specific purposes in cases where it is impeded by legal regulation in the User's jurisdiction or force majeure circumstances.
    4. Using the Service, the User guarantees that the Cryptocurrency, which he deposits in the Personal Account, and which he performs operations in the future, belongs to him legally.
    5. The Service it is not liable to third parties for the User’s compliance or violation of their occur with such third parties.
    6. All tax obligations of the Users associated with operations with Cryptocurrency, which are carried out using the Service, are performed by the Users independently. The Administrator in any way shall not act as a tax agent of the User.
    7. The Service reserves the right to amend this Agreement at any time and will notify the User of any such changes by posting the revised Agreement on the Site. The User should check this Agreement on the Site for changes periodically. All changes shall be effective upon posting. If the User continues using the Site after any changes to the Agreement take place, it means the User accepts such changes. For technical reasons or at the request of regulatory authorities the Company may terminate, suspend, change, or restrict access to all or any part of this Site without liability.
    8. Using the Service, the User guarantees that he understands the principle of operation of the Blockchain technology and all potential risks associated with the use of Cryptocurrencies, and therefore refuses any claims to the Administrator or the Service for possible losses that the User may incur as a result of using the Service, and which not related to the incorrect operation of the Service.
    9. Cryptocurrency prices are formed solely due to market processes and the Administrator cannot influence Cryptocurrency prices in any way, and therefore is not responsible for changes to the Cryptocurrency prices on the Service. Agreeing with these Rules, the User refuses any claims against the Administrator related to the User’s losses incurred as a result of a change in the price of cryptocurrencies on the Service.
    10. The Administrator is not responsible for any damage, loss (direct, indirect or incidental) and loss of profits resulting from any disruption to the Service and/or inability to use the Service.
    11. The Administrator has the right, at his own discretion, without giving reasons, to refuse to provide access to the capabilities of the Service to any User.
  9. 9. FORCE MAJEURE

    1. The Administrator shall not be liable for the failure to fulfill or improper fulfillment of the conditions of this Regulation, if this is caused by force majeure circumstances, that is, by inevitable actions under circumstances of insuperable force, which the Administrator could not know in advance or could not foresee. Such circumstances include: hacker attacks, the so-called "chain divisions" ("hard forks"), mining attacks and other unforeseen events in the ecosystem of cryptocurrency and blockchain; fire, flood, earthquake, tsunami, tornado, hurricane, typhoon, landslides, mudslides, avalanches, volcanic eruptions and other natural disasters; wars, revolutions, coups, strikes, sabotage and terrorist acts, robberies, accidents in the power supply and communications system, changes in legislation, actions of state bodies and their officials, if these circumstances directly affect the implementation of these Rules. For the duration of the force majeure circumstances, the User will have no complaints against the Administrator and the User assumes the risk of the consequences of force majeure.
    2. Unforeseen circumstances contributing to the Administrator’s failure to comply with the Rules in due time are also understood as:
      • technical problems encountered in the work of the Service;
      • technical problems associated with the implementation of preventive maintenance or malfunction of payment systems;
      • legislative actions of the government, or actions of the executive authorities that prohibit or suspend the operation of the Internet, the Service, electronic payment systems, banking institutions, etc.
  10. 10. SETTLEMENT OF DISPUTES AND APPLICABLE LAW

    1. This Agreement will be governed, construed and interpreted under the laws of the Republica of Poland. The Parties do not intend that this Agreement will be enforceable by any person who is not a party to this Agreement.
    2. The Administrator and the User have agreed that the User has the right to contact the Administrator for the resolution of only those disputes that relate to the technical aspects of using the Service.
    3. In order to initiate the consideration of disputes stipulated in clause 10.2 of the Rules, the User shall send an e-mail to the technical support of the Service, to which he attaches evidence to substantiate his complaint.
    4. Disputes referred to in clause 10.2 shall be resolved through negotiations and in accordance with these Rules.
    5. In the event that the Administrator and the User have not been able to reach an agreement by negotiation within thirty (30) days, the dispute must be submitted to the competent judicial authorities.
    6. Disputes arising from the interaction of the Users with each other directly using the Service are resolved by the Users themselves outside the Service.
  11. 11. PARTNERSHIP, REFERAL AND PROMOTIONAL PROGRAMS

    1. The Service provides an opportunity for third-party companies on partner conditions to offer their services on the Service site with the possibility of purchasing them by using the Service. Partner conditions are detailed in separate agreements.
    2. The Service provides an opportunity for third parties interested in cooperation to participate in referral programs aimed at increasing the number of users of the Service. Terms of referral programs are detailed in separate agreements.
    3. The Service provides Users with the opportunity to participate in promotional programs to replenish the Bonus balance.
  12. 12. FINAL PROVISIONS

    1. This agreement with the Service Rules will remain in force when using the Service and/or if you have a Personal Account in the Service.
    2. These Rules may be modified and/or supplemented by the Administrator unilaterally without any special notice, by publishing a new edition of these Rules in the appropriate section of the Service and/or on the Service page on the App Store and Google Play.
    3. The User has the right to refuse from these Rules at any time by removing this Service from his device.
    4. The Administrator may, at any time, having previously notified the User no later than 10 days, terminate the present Rules.
    5. Any questions that are not covered by these Rules are governed by applicable law.

In relation to any questions related to these Rules, the Privacy Policy and/or the use of the Service, the User may contact the Administrator at the contact e-mail address: [email protected]