Terms of Service

Updated on 16 November 2023

The Terms of Service and all terms and conditions incorporated herein by reference (collectively, the "Terms") govern your use of the website pocketbitcoin.com (the "Website"), any mobile device applications provided to you (the “User” or “you”) by Pocket App Ltd (the "Company", "Pocket", "we" or "us") and any other services provided by us, including any software interfaces that enable you to, purchase Bitcoin (BTC) ("Bitcoin") for yourself through one of our third party merchant and custodian service providers (each a "Custodian") (together with the Website and any other current or future features and/or applications, the "Services"). By accessing, browsing or otherwise using the Services or creating an account with us, you agree that you have read, understood and accepted the Terms and our Privacy Notice (the "Privacy Policy"), which is incorporated by reference into the Terms.

We may change, amend or revise the Terms from time to time and at any time in our sole discretion. When we make changes, we will make the updated Terms available on the Website and update the "Last Updated" date at the top of the Terms accordingly. Please check the Terms regularly for changes. Any changes to the Terms will apply from the date they are made. If you continue to access or use our Services after the Terms have been updated, you will be deemed to have given your binding consent to the updates. If you do not agree with the amended Terms, you should not continue to access or use our Services.

NOTE: Please read the Terms of Use and the Privacy Policy carefully as they govern your use of the Services. The Terms contain important information, including a binding arbitration clause and a class action waiver, both of which affect your rights in resolving disputes. The Services are only available to you - and you should only access the Services - if you fully agree to the Terms. BY USING OUR SERVICES OR BY CLICKING "I ACCEPT" OR BY CHECKING A BOX INDICATING YOUR ACCEPTANCE, YOU ACKNOWLEDGE THAT YOU UNDERSTAND AND AGREE TO ALL OF THE TERMS AND ALL CONDITIONS AND AGREEMENTS CONTAINED HEREIN.

If you accept the Terms on behalf of a legal entity by accessing or using the Services or by clicking "Agree" below or ticking a box indicating your acceptance, you confirm that you have legal authority to accept the Terms on behalf of that legal entity, in which case "they" (except for the purposes of this paragraph) means that legal entity. If you do not have this authority or do not accept all of the Terms, we will not be prepared to provide our services to you. If you do not agree to the Terms, neither you nor the organisation on whose behalf you are acting should access or use our Services.

1. Introduction

Pocket provides a simple and convenient way to exchange legal tender (such as Swiss Francs and Euros) for Bitcoin. Pocket also educates and accompanies its users on their journey to understanding Bitcoin. Additional our users can purchase hardware wallets and other storage solutions to keep their Bitcoin holdings safe and secure.

Pocket provides its Services for a fee (set as general rule at 1.5% of the transaction – reference to our FAQs for greater details on our fee model) which is charged only and only when transactions are performed by the User. There is no charge for using the Pocket App without performing transactions. The Services offered are fully non-custodial. Pocket will not hold any fund from the User.

2. Eligibility

Pocket may not make the services available in all markets and jurisdictions, and may restrict or prohibit use of the services from certain European or foreign jurisdictions. Our services are available for private individuals and, after internal consideration, also for companies with operational business activities. We do not currently offer our services to holding companies, trusts, foundations, etc.

You further represent and warrant that you:

• are of legal age to form a binding contract (at least 18 years old);
• have not previously been suspended or removed from using our services;
• have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party;
• are not located in, under the control of, or a national or resident of

(a) any Restricted Locations, or

(b) any country to which Switzerland has embargoed goods or services;

• are not listed as a "Sanctioned Individual" by SECO; and will not use our services if any applicable laws in your country prohibit you from doing so in accordance with these Terms.

We may, at any time and in our sole discretion, refuse any purchase via Pocket, impose limits on the purchase amount permitted via Pocket or impose any other conditions or restrictions upon your use of our service without prior notice.

3. Availability

While Pocket employs measures to ensure that Bitcoin purchases are accessible 24 hours a day and 7 days a week, we cannot guarantee uninterrupted or error-free operation. There may be temporary suspensions of access to the Website, App or other Services due to maintenance, updates, internet disruptions or other reasons.

Pocket may at its sole discretion reject any pending transactions, in the event of such disruptions. Pocket bears no liability for rejecting a bitcoin purchase initiated via a bank payment.

Pocket is not responsible for any interruptions or problems in accessing the Website, the App and other Services caused by third parties, User equipment or other circumstances. The information on the Website, App and other Services may not always be accurate, complete or up-to-date and may contain errors. Users should therefore review all information and take sole responsibility for any decisions based on that information. Pocket accepts no liability for such decisions.

Pocket will undertake all reasonable efforts to maintain the availability and quality of its Services; however, it may be the case that the Company needs to stop its operations to reasons attributable to Pocket itself or external reasons (i.e. force majeure). In any case, the Company will put in place all reasonable efforts to notify and also publicly divulge such disruptions to all Users. Compensation for damages is excluded.

4. No investment advice

All content produced by Pocket App Ltd is for informational purposes only and shall not be construed as investment, financial or legal advice. You acknowledge that Pocket is not acting as your broker, intermediary, agent, or advisor in any fiduciary capacity.

Pocket recommends that you seek advice from legal and financial professionals before you begin buying, trading or selling Bitcoin. Buying bitcoin can be financially risky as it might be subject to volatile market price movements. Please don't use Pocket if you do not understand these risks.

Any losses of data, Bitcoin or profits are your sole responsibility. Pocket is not liable for any consequences arising from reliance on any opinion or statement contained herein or from any omission.

5. Our rights

We reserve the following rights, which do not constitute obligations on our part: (a) to modify, replace, remove or add to any of our Services with or without notice; (b) to suspend or terminate the account of any person who breaches the Terms; (c) to review, modify, filter, disable, delete and remove any content or information on the Website; (d) automatically update and download software provided on or through the Website; (e) cooperate with any law enforcement authorities, courts, government agencies or third parties requesting or directing us to disclose any information or Content or information you provide to us.

6. User Responsibilities

Due to the characteristics of our services, users hereby agree that they are solely responsible for each of the following actions and, hence, will not, under any circumstances, try to hold Pocket liable for any mistakes, mismanagements, negligent conducts, deliberate errors and/or the loss of funds or the loss of access, potentially arising in connection therewith.

Users are responsible for maintaining the safety of either or all of the following: (a) seeds; (b) other keys and/or numbers relevant to the usage of Pocket’s Services; (c) secret numbers and/or private keys; (d) devices and (e) any other code, secret, password, key, phrase, alphanumeric word, that is associated with the usage of the Services and the related capabilities of managing funds.

Users shall implement all necessary measures to keep offline backups of the above referred seed words, secrets and/or keys in multiple secure places. Pocket does not store such information on Users' behalf for security and data privacy reasons and is not a custodian of Users' funds and/or accounts. The Company is NOT and will NOT be able to recover lost funds or accounts, under any circumstances.

Importantly, Users have been made aware and hereby acknowledge that due to security reasons, the Services (including but not limited to the ones provided by the Pocket mobile application), DO NOT allow for the export of secret data, keys and/or seeds that have been either created through the Services or imported from external sources, meaning that whenever Users intend to recover their accounts, they will always be required to do so through the usage of their offline backups or otherwise safely stored seed words and secrets.

For purpose of clarity, we list below some additional key responsibilities for the Users. Users are responsible for maintaining their mobile devices (the “Devices“), as well as their software up to date and secure, for which they shall observe the following recommendations:

• Users shall, at all moments, install available operative system security updates.
• Users shall not root or jailbreak their Devices.
• Users shall not connect their Devices to untrusted devices, cables, chargers and any other untrusted hardware equipment.
• Users of non-English versions of the Services are responsible for double-checking on the correctness and/or accuracy of the relevant translations, as language technicalities may lead to irreversible mistakes (e.g. sending funds to fraudulent addresses) or unintended utilization of the Services.

Regardless of Users' responsibilities as per this Section, Pocket is providing some level of support, so Users are able to submit their questions and/or concerns regarding the Services and get assistance from Pocket, who, to the extent reasonably possible, will be committed to timely provide the requested support.

7. Source code

The source code of Pocket’s Services (the code ensuring all features and functioning of the Services) is owned by Pocket App Ltd. Pocket software is subject to Pocket's copyright and may not be used without a licence agreement.

Many components of the software used by Pocket in order to provide the Services, are sourced from open-source ecosystem, meaning that many independent contributors who are totally unrelated to Pocket may participate in the design, development and implementation of such components. This includes translation services.

In this sense, Pocket does not take responsibility on the contributions and/or translations produced by independent contributors and neither does Pocket hereby agree to assume any potential liability arising thereof. Likewise, such contributors have not entered into an agreement, legal or business relationship with Pocket and, as such, have not undertaken any obligation or responsibility to guarantee or maintain the quality, effectiveness, accuracy and/or fitness of their contributions, nor any potential liability arising in connection therewith.

Please note that the Pocket and Pocket Bitcoin brands are under trademark protection.

8. Bitcoin services

Pocket does not purchase, sell, or exchange any bitcoin on its own behalf. When you submit a new bank payment, you authorise Pocket to execute an exchange for the full amount after the deduction of the fees.

We execute the bitcoin purchase after we detect your bank payment on our bank account. The relevant exchange rate is determined at that moment with one of our partner exchanges and hence we can not guarantee a particular exchange rate. Delays due to internal processes might occur.

While Pocket employs measures to ensure that Bitcoin purchases are accessible 24 hours a day and 7 days a week, we cannot guarantee uninterrupted or error-free operation. Pocket may at its sole discretion reject any pending transactions, in the event of such disruptions. Pocket bears no liability for rejecting a bitcoin purchase initiated via a bank payment.

Once the purchase has successfully been executed, a confirmation email will be sent to you with all the details in regard to your purchase. You acknowledge and agree that the failure to deliver such confirmation email shall not prejudice or invalidate the terms of the purchase.

Pocket does not offer the service of selling/exchanging bitcoin back into CHF, EUR or GBP.

All sales and purchases of bitcoin via Pocket are final. We do not accept any returns or provide refunds for your purchase of bitcoin.

9. Wallet

A digital wallet is required to use the app. Users can import their own Wallet into the App or create a new Wallet directly in the App.

In the event that a User creates a new Wallet in the App, a digital wallet will be created on each device on which the App is installed and used, allowing Users to store Bitcoin purchased through the App. The wallet is not a "web wallet". Users do not give Pocket any bitcoin for storage. The App does not constitute an account where Pocket or other third parties serve as financial intermediaries or custodians of cryptocurrencies for Users. Pocket does not have access to the user's bitcoin at any time.

The wallet is created directly on the user's device (computer, tablet, smartphone, etc.). No data leaves this device. If the User loses access to their device, they expressly acknowledge and agree that any Bitcoin they have associated with that Wallet will become inaccessible unless they have backed up the Wallet by writing down the Wallet's private key. The Using Person expressly acknowledges and agrees that it is their sole responsibility to keep the Device secure and to back up their private keys in order to recover their Bitcoin assets.

To ensure the security and privacy of the person using the wallet, no sensitive data is stored, retained or transmitted when using the wallet. Pocket only has access to information that a) has been added to the app by the person using it or b) is publicly available in the blockchain. Pocket does not own the user's Bitcoin. Only the user can access and control their Bitcoin. The user can freely transfer their Bitcoin from their wallet to another wallet at any time.

10. Physical products

10.1. Warranty

Pocket does not provide any warranty for bitcoin stored on hardware wallets. Customers must make sure that they have backed up their wallet securely as hardware wallets can break just as any other computer hardware.

In the event of any manufacturing defect or issue, we will endeavour to assist you in resolving the problem with our support.

Pocket warrants for two years from delivery date that the ordered product will be free from defects and fully functional. This warranty period continues to be valid irrespective of the fulfilment of possible warranty services. Pocket shall provide warranty either by:

• providing a partial or full replacement with an equivalent product (for replacement within the first year of warranty, the original warranty period continues to apply. For replacement within the second year of warranty, the warranty period is one year starting from the time of replacement);
• replacing the product through Pocket (the warranty period of two years starting from the time of replacement applies)
• providing a refund at current price (no more than the sales price at the time of the original order); or
• giving a price reduction.

Pocket explicitly excludes warranty for wear and tear parts such as adapters and for software problems.

Provided that the manufacturer warranty exceeds the warranty of Pocket, Pocket shall grant the former to the customer.

10.2. Delivery / Shipping

Orders made on working days before 15:00 CEST will be shipped on the same day. In extenuating circumstances, delivery make take longer than expected - for instance, if a product is out of stock.

10.3. Returns

If you wish to return a physical product, please contact us via team@pocketbitcoin.com. We have listed the requirements below. All products purchased from Pocket App Ltd may be returned by post only.

10.3.1. Return period

Our return periods apply from date of shipment. The date of the postmark applies.

30-day right of return for all products purchased from Pocket.

Subject to the below-listed limitations, all products purchased from Pocket App Ltd may be returned within 30 calendar days.

10.3.2. No right of return

Unfortunately, we cannot accept the following returns:

• Hardware Wallets; Pocket does not accept returns of any hardware wallets as these are security critical devices that shall never be reused or resold.
• Damaged products (with the exception of transport damage)
• Products that are not in their original packaging
• Products that do not include all accessories
• Unsealed products

10.3.3. Refund value

Provided that a product can be returned, the following refund rule applies:

• Full refund at purchase price if the product is in its sealed, undamaged original packaging

10.3.4. Return shipping costs

Postal charges for the return shipment of products are generally borne by the sender. The following exceptions apply:

• The product received is incorrect
• The product information in our shop is incorrect
• The product received was not ordered
• The product is incomplete

11. Acceptable use

When accessing or using Pocket, 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 our service. Without limiting the generality of the foregoing, you agree that you will not:

• Use Pocket in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying our service, or that could damage, disable, overburden or impair the functioning of our Services in any manner;
• Use our Services to pay for, support or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or other illegal activities;
• Use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access Pocket or to extract data;
• Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
• Develop any third-party applications that interact with our Services without our prior written consent;
• Provide false, inaccurate, or misleading information; and
• Encourage or induce any third party to engage in any of the activities prohibited under this Section.

12. Taxes

It is in the sole responsibility of the user to determine whether, and to what extent, any taxes apply to any transactions they conduct through the usage of our services, and to withhold, collect, report and remit the correct amount of tax to the appropriate tax authorities.

13. Promotions and referrals

We may, from time to time, conduct contests, promotions, sweepstakes or other activities or offer referral programmes ("Promotions and Referrals") that require users to submit materials or information about themselves. All Promotions and Referrals may be subject to separate rules, which may include certain eligibility requirements, such as age or geographic location restrictions. It is the responsibility of the person using the promotion to read all rules pertaining to the promotion and referral to determine whether or not they are eligible to participate. When you participate in promotions and referral activities, you agree to follow and abide by all rules of the promotions and referral activities; all promotions and referral activities are voluntary, so you should not participate in such promotions and referral activities if you do not agree to follow and abide by all rules.

14. Disclaimers

14.1. As Available / As Is

Users expressly acknowledge and agree that their access to and use of our Services is at their sole risk and that our Services are provided "as is" or “as available” without warranties of any kind, either express or implied.

The Company and its members, directors, officers, employees, consultants, agents, affiliates and representatives (the "Company Parties") make no express warranties and hereby disclaim all implied warranties with respect to our Services and any part thereof (including but not limited to our Services or external websites), including the implied warranties of merchantability, fitness for a particular purpose, non-infringement, correctness, accuracy or reliability. Without limiting the generality of the foregoing, the Company Parties do not represent or warrant to you that (a) their access to or your use of our Services will meet your requirements, (b) their access to or use of our Services will be uninterrupted, timely, secure or error-free, (c) that the usage data provided through our Services is accurate, (d) that our Services or any content, services or features provided on or through our Services are free of viruses or other harmful components, or (e) that any data they disclose when using our Services is secure.

Some jurisdictions do not allow the exclusion of implied warranties in contracts with consumers, so some or all of the above exclusions may not apply to them.

14.2. Personal risks

Users accept the inherent security risks associated with providing information and trading over the Internet and agree that we will not be liable or responsible for any breach of security unless it is due to the gross negligence of the Company. You will take reasonable and appropriate steps to secure access to (a) any devices associated with them and used in connection with their purchase or use of our Services and (B) any other usernames, passwords or other login or identification information.

The Company is not able to control, authorize, reject, seize and/or censor any of the funds or the accounts held and/or managed by the Users through the Services. In other words, Pocket is not responsible and cannot be held liable by Users for any losses of funds, for the loss of access to their addresses, the improper management of secrets or private keys, Users' mistakes and/or ignorance.

For purposes of providing further clarity, once: (a) a transaction has been signed by a User using any of the Services or (b) access to funds and or addresses has been lost; there is no way back. Transactions cannot be reversed and funds cannot be recovered. Furthermore, Pocket cannot be held responsible for the functioning of Bitcoin.

15. Limitation of liability

15.1 Users acknowledge and agree that neither party shall be liable to them or to any third party for any indirect, incidental, special or consequential damages however caused and under any theory of liability, including, but not limited to, lost profits (whether direct or indirect), loss of goodwill or business reputation, loss of data, cost of procurement of substitute goods or services, or other intangible losses, even if advised of the possibility of such damages.

15.2. Users acknowledge and agree that the Company shall not be liable to them and shall exclude all liability in connection with any force majeure, including acts of God, industrial disputes or other labour disturbances, power, telecommunications, hardware, software or other utility failures, software or smart contract failures or weaknesses, earthquakes, storms or other natural events, pandemics, blockades, embargoes, riots, governmental acts or orders, acts of terrorism or war, changes in technology and changes in interest rates or other monetary conditions.

15.3 Users agree that our total liability to them for all claims arising out of or in connection with the Terms or their access to or use of our Services (or their inability to access or use them), whether in contract, tort, strict liability or any other legal theory, shall be limited to the greater of (a) the amount of fees actually paid by them to us under the Terms during the twelve (12) month period from the date the claim arose, or (b) one hundred Swiss francs (CHF 100).

15.4 Users acknowledge and agree that we have provided our services to them and have entered into the Terms in reliance on the warranty disclaimers and limitations of liability set out herein, which reflect a reasonable and fair allocation of risk between the parties and form an essential basis of the business between the Company and them.

15.5 Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, and some jurisdictions also limit the exclusion or limitation of liability for personal injury by consumer products, so the above limitations may not apply to personal injury.

16. Intellectual property rights

Pocket is the sole owner of all intellectual property rights related to the Website, Pocket software interfaces and the Pocket mobile application. Any content presently displayed or made available by Pocket in the future, such as text, logos, images, music, digital downloads, and data compilations, is the property of Pocket, its affiliates or its suppliers, and is protected by Swiss and international intellectual property law. Pockets' names and logos are trademarks of Pocket. Pockets' trademarks and logos may not be used for products or services that are not offered by Pocket, or in any way that could cause confusion in the public, or in any way that disparages or discredits Pocket. Accordingly, the User agrees not to reproduce, represent, extract and use in any way any or all of Pockets' trademarks, logos, Website or Services.

17. No responsibility for transactions with a custodian

We are not responsible for transactions that occur between you and a custodian. If a custodian fails to complete a purchase on your behalf on time or in the correct amount, or a loss occurs in relation to Bitcoin held with that custodian, we will not be liable for your losses or damages.

18. External links

The Website or our other services may contain hyperlinks or direct users to other websites or resources (collectively, "External Sites") that are provided to them merely as a convenience. We have no control over the External Sites. Users acknowledge and agree that we are not responsible for the availability of External Sites and that we do not endorse any advertising, products, services or other materials offered on External Sites. In addition, they acknowledge and agree that we are not liable for any loss or damage caused by the availability or unavailability of the External Sites or by their reliance on the completeness, accuracy or presence of any advertising, products, services or other materials on the External Sites or on any materials provided by them.

19. Modification and Termination of our Services

Provided that the Terms and all applicable laws are complied with, Users may terminate the Terms at any time by discontinuing access to and use of our Services and emailing Pocket at team@pocketbitcoin.com.

Pocket may constantly change, modify and improve its Services, thereby adding or removing features and offerings (software may automatically update on Users' Devices). We may, in our sole discretion and without cause, terminate the Terms and Pocket maintains the unlimited right to block, ban, suspend and/or interrupt the provision of our Services to specific Users, without prior notification and Pocket will not be liable to any Users or third parties for any such suspension or termination, in the event that the Company detects either one or more of the following activities and/or scenarios:

• Attempt to or successfully attack, spam or otherwise deteriorate the Services provided by Pocket,
• Attempt to or successfully conduct fraudulent, abusive or illegal activities through the Services provided by Pocket,
• Participate in fraudulent schemes that involve the utilization of the Services provided by Pocket,
• Breach of the Terms of Service,
• Any other circumstances and/or activities reasonably deemed unsafe or dangerous as per Pockets' discretional judgement.

Pocket also conserves the unlimited right to prevent Users from using the Services to send funds to the Users who have been restricted as a consequence of being found responsible for any of the activities described herein above.

Upon termination or expiration of the Terms, whether by the User or us, the User may no longer have access to any information that he or she has posted in connection with our Services or that is related to his or her use of our Services, and acknowledges that we have no obligation to retain such information in our databases or to disclose it to the User or any third party. Upon termination of the Terms, the User will continue to have all rights to the Bitcoin purchased from Pocket.

20. Alternative Dispute Resolutions.

Any dispute, controversy or claim (collectively, "Claims") relating in any way to the user's use of Pocket's services may be resolved by agreement of all affected parties through the use of alternative dispute resolution mechanisms, such as mediation or arbitration.

21. Data Protection

Please refer to our Privacy Notice for information about how we collect, use and share your information.

22. Applicable law and jurisdiction.

This terms shall be governed by and construed in accordance with the substantive laws of Switzerland. The parties irrevocably agree that the courts of Zurich or Aargau, Switzerland have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with these terms or their subject matter or formation (including non-contractual disputes or claims).