1. Introduction

This Crypto Payments Disclaimer outlines important information, risks, and considerations regarding the use of cryptocurrency payments on the Escrowfy platform. By using cryptocurrency as a payment method on our platform, you acknowledge that you have read, understood, and agree to all the terms outlined in this disclaimer.

This disclaimer supplements our Terms of Service and other applicable policies.

2. Supported Cryptocurrencies

Escrowfy currently supports the following cryptocurrencies for payments:

• Bitcoin (BTC)
• Litecoin (LTC)
• USDT-TRC20

We may add or remove supported cryptocurrencies at any time. Any changes will be announced through platform notifications and updates to this disclaimer.

3. Volatility and Price Risk

3.1. Acknowledgment of Volatility

Cryptocurrency prices can be highly volatile and subject to significant fluctuations in short periods. By using cryptocurrency for payments on Escrowfy, you acknowledge and accept the following:

• The value of cryptocurrency can change dramatically between the time of transaction initiation and completion
• Escrowfy does not guarantee any exchange rate for cryptocurrency transactions
• You assume all risks associated with value fluctuations
• Escrowfy is not responsible for any losses due to price volatility

3.2. Exchange Rate Mechanisms

For transactions conducted in cryptocurrency:

• The exchange rate is determined at the time of transaction initiation
• We use reputable third-party services to determine exchange rates
• The exchange rate is locked for a limited time window (typically 15-30 minutes) to allow for payment completion
• If payment is not completed within this window, the exchange rate may be recalculated

4. Transaction Irreversibility

Cryptocurrency transactions are generally irreversible by design. You acknowledge and agree that:

• Once cryptocurrency is sent to a wallet address, the transaction cannot be reversed or canceled
• If you send cryptocurrency to an incorrect address or in an incorrect amount, recovery is likely impossible
• Escrowfy cannot reverse, cancel, or refund cryptocurrency transactions once they have been confirmed on the blockchain
• You are solely responsible for verifying all transaction details before sending cryptocurrency

While our escrow service provides protection during the transaction process, the movement of cryptocurrency into and out of the escrow system follows the irreversible nature of blockchain transactions.

5. Network Fees and Transaction Times

5.1. Network Fees

Cryptocurrency transactions require network fees (also known as mining fees or gas fees) to be processed on their respective blockchains. You acknowledge and agree that:

• Network fees are determined by blockchain network conditions and not by Escrowfy
• Network fees may vary significantly based on network congestion
• You are responsible for paying any applicable network fees
• Network fees are non-refundable, even if a transaction fails for reasons other than network issues

5.2. Transaction Times

Cryptocurrency transaction confirmation times vary depending on the cryptocurrency and network conditions. You acknowledge that:

• Transaction confirmation may take minutes to several hours
• Escrowfy requires a specific number of network confirmations before considering a payment complete:
  • Bitcoin (BTC): 3 confirmations
  • Litecoin (LTC): 6 confirmations
  • USDT-TRC20: 15 confirmations
• Escrowfy is not responsible for delays in transaction confirmation
• Transaction processing times are not guaranteed

6. Security Considerations

6.1. User Responsibilities

When using cryptocurrency on our platform, you are responsible for:

• Maintaining the security of your cryptocurrency wallets and private keys
• Verifying all wallet addresses before sending cryptocurrency
• Using secure and updated software for cryptocurrency transactions
• Following security best practices for cryptocurrency usage
• Reporting any suspicious activity immediately to Escrowfy

6.2. Platform Security

Escrowfy implements various security measures to protect cryptocurrency transactions, including:

• Secure wallet infrastructure
• Encryption of sensitive data
• Regular security audits
• Monitoring for suspicious activity
• Multi-factor authentication options

However, no security system is completely impenetrable. Escrowfy cannot guarantee absolute security and is not responsible for security breaches resulting from factors outside our control.

7. Regulatory Compliance

7.1. Legal Compliance

You are responsible for ensuring that your use of cryptocurrency on our platform complies with all applicable laws and regulations in your jurisdiction, including:

• Tax reporting and payment obligations
• Anti-money laundering regulations
• Foreign exchange regulations
• Any restrictions on cryptocurrency usage

7.2. KYC and AML Compliance

Escrowfy implements Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to comply with regulatory requirements. By using cryptocurrency on our platform, you agree to:

• Provide accurate and complete information for identity verification when required
• Submit to additional verification procedures for large transactions
• Not use our platform for illegal activities, money laundering, or financing terrorism
• Not attempt to circumvent our KYC/AML procedures

For more details, please review our AML & KYC Policy.

8. Technical Requirements

To use cryptocurrency on our platform, you need:

• Access to a compatible cryptocurrency wallet
• Basic understanding of how cryptocurrency transactions work
• Ability to copy and verify wallet addresses accurately
• Sufficient funds to cover both the transaction amount and network fees

Escrowfy provides basic guidance on cryptocurrency usage but cannot provide comprehensive technical support for third-party wallets or blockchain issues.

9. Limitations of Liability

In addition to the limitations of liability in our Terms of Service, Escrowfy specifically disclaims liability for:

• Losses due to cryptocurrency price volatility
• Transactions sent to incorrect wallet addresses
• Issues resulting from blockchain network congestion or failures
• Problems with third-party cryptocurrency wallets or services
• Regulatory changes affecting cryptocurrency usage
• Tax implications of cryptocurrency transactions
• Lost or stolen cryptocurrency due to factors outside our control

10. Changes to This Disclaimer

Escrowfy reserves the right to modify this Crypto Payments Disclaimer at any time. Changes will be effective upon posting to the website. We will notify users of significant changes via email or platform notification. Your continued use of cryptocurrency payments on our platform after such changes constitutes acceptance of the modified disclaimer.

11. Contact Us

If you have any questions about cryptocurrency payments on our platform, please contact our support team:

Email: crypto-support@escrowfy.com

Or through our support ticket system available on our website.