Terms & Conditions

Updated: 16.Nov 2017

This document acts as a record of an agreed upon General Policies and Terms of Use (collectively, “Terms“ or “Terms of Use“) between you (the “User” or “you”) and Blockbase Pte. Ltd. (“Blockbase”). By using any or all the services accessible on the module (“Module”) placed on the web-site of  Blockbase Ltd. located at http://blockba.se(the “Site”) or any other services owned or provided by Blockbase (collectively, “Services“), you acknowledge and agree to these Terms. Further, by making any purchases on the Site or through any other Services, you acknowledge and agree to these Terms. The terms “us“, “we“, or “our“ refer to Blockbase.

Notice of Policy

The following is the current business and operations policies of Blockbase as of the date listed at the top of this agreement. No other policies, representations, or agreements previously posted on this website remain in effect after that date. If these Terms are updated at a future date, the policies in this document shall cease as of that date and will be replaced exclusively by those updated Terms.

1. General

Blockbase has a service agreement with  Blockbase Ltd. for provision of hosting services to its customers, who purchased WTT Token (“WTT Token Holders”) at the special low rate.

2. Services Offered through the Module

Blockbase provides the following use of the Module:

  • Ability to host User’s mining equipment at the  Blockbase Ltd. facility located at in Boden, Sweden (“Facility”) with the use of WTT Tokens
  • Ability to rent WTT Tokens

3. Account Registration

Registering an account (“Account”) on the Module is required to use any of the Services offered through the Module. During the registration process, Blockbase may collect the name, address, email, and shipping address of buyers of equipment to fulfill orders placed using the Module, and information related to the User’s WTT Holder status to verify their qualification to purchase. This information will be handled according to the terms in our Privacy Policy. Blockbase does not take any measures to verify the veracity or legitimacy of any identities provided by Users on the outside of those listed in these Terms unless required to do so by law.

You warrant and represent that you accurately provide any and all information (including Holder status) in order to create that Account, and that it is current, complete, and legitimate. You agree to notify Blockbase in a timely manner of any circumstantial change that could render this information no longer current, complete, accurate or legitimate. You also acknowledge that you may be prevented from completely registering your Account until you confirm your information and email address in a manner that we deem sufficient.

You agree that you and only you will use your Account to receive Services through the Module. You agree that you are fully responsible for any activity that occurs using your account, and can only jointly and severally transfer this responsibility to a third party. You agree that you will notify Blockbase if you find or suspect any security breaches or vulnerabilities related to the Module, Site or Services.

4. Hosting of User’s Mining Equipment

Hosting services are performed by  Blockbase Ltd. according to the terms of a separate agreement between  Blockbase Ltd. and User. Blockbase only provides information to the Users on performance of their equipment such as number of mining equipment units hosted, hashrate of each unit, amount of reward received on the pool, amount paid for hosting fee, and amount paid/received for rental fee, in case of the WTT Tokens are rented.

Blockbase is not responsible for performance of the mining equipment nor for the amount of the reward received by Users.

Blockbase uses a third-party splitter to split rewards received by User on the pool into the following parts: (1) hosting fee, which will be sent to the digital wallet of  Blockbase Ltd.; (2) rental fee, if WTT Tokens are renter by the User, which will be sent to the digital wallet of WTT Token Holders, and (3) remaining reward, which will be sent to the User’s digital wallet. If User uses its own WTT Tokens to host its mining equipment, then there will be no rental fee taken out of the reward.

5. Rent of WTT Tokens

User are able to rent their WTT Tokens to each other. WTT Token Holders are able to offer their WTT Tokens for rent at four (4) rental rates, which are equivalent to the standard hosting rates provided by  Blockbase Ltd. to its clients. Users, who do not hold WTT Token, would be able to rent WTT tokens at a hosting rate according to the number of miners owned.. The WTT Token Holders, who have their WTT Tokens rented out will receive their rental income from the reward generated by the renter at the pool.

6. Contact and Support

We aim to deliver the highest level of customer satisfaction in the execution of our policies as listed in these Terms. Nonetheless, we ask that you appreciate that Blockbase is a growing company in a booming industry, and sometimes response to support requests can take longer than would be expected of other companies in other industries. You can contact our support at [email protected]

Terms of Use

By accessing or using the Service you agree to be bound by these Terms. If you disagree with any part of the terms then you may not access the Site or the Service.

1. Qualifications of User

The User represents and warrants that you are at least eighteen (18) years old, are legally allowed to use the internet and services like those provided by Blockbase (according to the laws UAE and any relevant jurisdiction in which you reside), and have not previously had your right to use our service previously suspended or revoked by us.

2. Illegal and Prohibited Use

The User represents and warrants that you will not use the Module or any products obtained through any Order for any criminal, illegal, or otherwise prohibited use, including (but not limited to) activities related to money-laundering, drug trafficking, human trafficking, weapon trafficking, terrorism, securities fraud, or tax evasion. The User represents and warrant that you will not use any product obtained through the Module to assist any other party in such illegal activity.

The User represents and warrants that you will not in any way use the Module, Site or Services to: reverse engineer or otherwise improperly access any of the Module, Site’s or the Platforms underlying code or technical mechanisms; cause damage to the Module, Site or Blockbase or any Dealer through any means, including (but not limited to) through the use of hacking, malware, viruses, illegitimate credentials, phishing, brute force attacks, SQL exploits, or any other method of detrimentally intercepting, interrupting, or damaging any information or functionality related to the Module or Site; place any Order to be delivered to any address or destination not controlled or inhabited by a party aware of your order and that is expecting and/or capable of receiving your product on your behalf; or fraudulently place an Order in any way that can distract or cause harm to any Dealer or Blockbase. You also agree not to transfer access to your Account (as defined below) or any other rights granted to you by these Terms.

3. Privacy Policy

We will only disclose your personal information as outlined in our Privacy Policy. By accepting these Terms, you also acknowledge and agree to that privacy policy.

4. Vulnerabilities of the Internet or of Cryptocurrencies

Use of the internet is famously vulnerable to certain security risks, including (but not limited to) man in the middle attacks, ISP or other third-party tracking, database compromising, phishing attacks, malware infection or interference, or internal personnel security breaches. You hereby release Blockbase from liability, responsibility, civil claims or litigation relating to these risks, and waive any right to any settlement or judgment for damages caused by the interception, loss or alteration to any information sent over the internet. Blockbase takes reasonable steps to ensure the security and privacy of our customers and information related to the use of our Services, but such information will not be considered “confidential,” and may be revealed to a third party, accidentally or otherwise, without any claim of liability against Blockbase, even if it is a result of negligence.

Blockbase accepts Bitcoin and Ethereum as forms of payment for products listed for sale by Dealers. Like any cryptocurrency, these payment systems are vulnerable to attacks against their underlying infrastructures, including (but not limited to) 51%, Sybil or brute force cracking attacks. Further, users of cryptocurrencies occasionally send payments to mistaken or mis-typed destinations, errors for which there is no available method for recovery. You warrant and represent that if you utilize these methods of payment, you are aware of the risks of using these payment systems, are competent in transacting with cryptocurrencies, and that Blockbase is not responsible or liable in any way for any lost or otherwise erroneous payments that result from their use. Resolution concerning Payments, Orders, Account balances, Services or other disputes related to a failure in cryptocurrency protocols will be determined on a case-by-case basis.

Blockbase reserves the right to withhold the execution of an Order due to substantial price fluctuations that occur in the price of the underlying cryptocurrency while it is in transit across the blockchain. Further, you warrant and represent that you understand the volatile nature of the value of cryptocurrencies and waive any claim to recovery against Blockbase for any perceived harms that may occur due to price fluctuations of those assets while or after your Order is processed. Finally, you warrant and represent that you understand how the auto-updating price feature of BTC and LTC purchases works, and understand that an order might not be completed if the price updates before you are able to submit a transaction. You agree that you are still responsible for the entire amount required to complete the purchase even if it updates unfavorably before your payment is received.

5. License

By agreeing to these Terms, you are hereby granted a limited, nonexclusive, nontransferable license (“License”) to access or use the Module and Services. All other rights are reserved by Blockbase and our licensors, including those pertaining to any content or functionality as presented on the Site or in our services. “Blockbase,” “Blockbase.sg”, all logos or marks related to Blockbase or displayed on the Module are trademarks or registered marks of Blockbase or its affiliates. You will not redistribute, claim ownership, license, deconstruct, reverse engineer, alter, incorporate into any other works or websites, or otherwise exploit any such material without Blockbase’s express written consent provided before its use.

6. Termination

Your License may be suspended, revoked, or terminated without prior notice or reason, including because you breached these Terms. You shall not interpret anything portrayed in these terms or through any other communication or action by Blockbase or our employees, agents or representatives as a waiver of any legal remedies available due to your breach of these Terms or other improper use of the Module or Services.

Any of these Terms that reasonably should survive termination of your License shall survive such an event, including (but not limited to) ownership provisions, disclaimers or limitations of obligations or liability, and indemnity.

7. Third-Party Websites and Services

We may provide links to third-party web sites or services (both on our Module or through other communications) that are not owned or controlled by Blockbase. We do not control, and assume no responsibility for, any content, privacy policies, or practices of any third-party web sites or services, and you will accordingly not hold us liable for any damages resulting from the interaction with such. You further acknowledge and agree that Blockbase is not responsible or liable, directly or indirectly, for any harms suffered from or in connection with use of or detrimental reliance on any information, content, goods or services available on or through any such web sites or services.

8. Harms Resulting from Dealer Actions

As listed in our Notice of Policies, Blockbase merely arranges Users and Dealers of cryptocurrency-related equipment and products. Accordingly, we are not responsible for, and you agree to not hold us liable for, any and all damages, harms, or inconveniences caused by any Dealer, including their Order execution processes and their choice of delivery services. Notwithstanding this, refunds are available only in a situation where a Dealer fails to ship. You agree that determination will be made at our discretion of whether a Dealer factually failed to ship, or is merely late or engaged in another shipping error (and therefore no refund is available).

9. Copyright of Communications In Connection With Our Services

The User understands and agrees that any materials, information or communications transmitted between you and us may be available to any party as Blockbase sees fit. Those communications are agreed to be the sole, exclusive property of Blockbase, including full intellectual property rights that may apply to them. Blockbase can use or distribute these communications in a fully unrestricted fashion for any legal purpose, commercial or otherwise, without notice or compensation to the User. You hereby forfeit any right to litigation or recovery for perceived damages caused by the use of this information as is legally acceptable.

10. Indemnification

You hereby waive any claim to litigation, arbitration, mediation, or demand against Blockbase, its representatives, affiliates, or employees as is allowed by law. You agree to fully indemnify and assist in exculpating Blockbase, its representatives, affiliates, employees and service providers as is legally permitted in any claim arising from your use of its Services. Further, you agree to fully compensate Blockbase and any indemnified parties for any legal fees required in attending to any matters related to your breach by you of these Terms or to your use of blockbasemining.com in violation of any law, rule, or rights of Blockbase or a third party.

11. Disclaimer of Warrants and Guarantees

Blockbase explicitly does not guarantee any standard of performance, including the continued, uninterrupted availability of our Services. We do not guarantee the accuracy of any information provided on the Site. We further disclaim all warrants and guarantees not expressly made in these Terms.

12. Applicable Law and Venue

The validity, interpretation, construction and performance of this Agreement, and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of UAE, without giving effect to principles of conflicts of law. For purposes of litigating any dispute that may arise directly or indirectly from this Agreement, the parties hereby submit and consent to the exclusive jurisdiction of UAE.

13. Arbitration

Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the Dubai International Arbitration Centre (“DIAC”) in accordance with the Arbitration Rules of the Dubai International Arbitration Centre (“DIAC Rules“) for the time being in force, which rules are deemed to be incorporated by reference in this clause. The seat of the arbitration shall be UAE. The Tribunal shall consist of 3 arbitrator(s). The language of the arbitration shall be English.

14. Severability

If any provision of these Terms is deemed illegal, invalid or otherwise unenforceable for any reason, then that provision will be severed and the remainder of the agreement will remain intact.

15. Integration

Any failure by Blockbase to exercise or enforce any rights or provisions of these Terms should not be considered a waiver of those rights or provisions. This document represents the entire and complete agreement between the User and Blockbase, superseding any previous contracts or communications between you and us. Any vagueness or ambiguity in these Terms should be interpreted in the light most favorable to Blockbase.

16. Act of God

Blockbase is excused for any failure to perform according to these Terms if such failure is caused by forces beyond our reasonable control. Such forces include (but are not limited to) acts of God, acts of any government, war or civil unrest, severe weather, fire, natural disasters, political embargos, terrorism, power or equipment failure, industrial or labor disputes or controversies, acts of any third party, or internet or cryptocurrency failures.

17. Contact Us

If you have any questions about these Terms, please contact us at [email protected]