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Terms of Service

Welcome to Safello!

Thank you for using our Services, which are provided to you by Safello AB (reg. no. 556954-4165), a company incorporated and operating under the laws of Sweden and located at Mäster Samuelsgatan 36, 111 57 Stockholm, Stockholms län, Sweden.

Present Terms of Service are effective as of June 16th 2020, 1:00 PM CET and remain effective until revoked.

By using our Services, you are agreeing to these terms. Please read them carefully!

1. General Terms and Provisions

1.1. These Terms of Service (hereinafter “Terms”) apply to all Customers using the services of Safello AB (hereinafter “Safello”) through this website or by other means of access. These Terms govern your access and use of the site and apply to all transactions and business relationships between you and us, Safello.

1.2. By clicking on the “I accept” button during the signup process or when completing a purchase through Safello:

i. you agree to be bound by these Terms, and

ii. you also agree to be bound by Safello’s AML Policy and Privacy Policy through explicit approvals on the website.

1.3. Unless explicitly agreed in writing, Safello does not accept any terms or conditions other than those present in these Terms regarding any Customer or Customer Relationships.

1.4. By accepting these Terms, you also consent to receive electronic communication from Safello. Such communication may include information about your account and other communication between you, our Customer and us related to transactional information, notices, changes to our Terms of Service or other information relevant to our relationship, however, communication according to this section will not include any communication for marketing purposes, which is subject to separate consent and acceptance.

1.5. When you sign up to use our Services, we may ask you to provide further information about yourself, and we may even ask for more documents from you in line with our AML Policy. We appreciate your understanding in the process. Safello operates as a Financial Institution in Sweden and we need to carefully follow all existing laws and regulations, most importantly the ones on Anti-Money Laundering.

1.6. We may apply different and separate requirements for our Natural Person Customers and our Corporate Customers, especially regarding the necessary documentation to enter into a Customer Relationship and carrying out Occasional Transactions.

2. Definitions

For the purposes of these Terms:

Account: An account created by the Customer during the Signup process, which contains information about said Customer and their Transaction data, and to which Customer may login to in order to initiate Transactions.

Block (of Account): An action that may be performed by Safello, the result of which is that a Customer is no longer able to login to his/her Account and initiate Transactions by using his/her Account, until the action is lifted. An Account may be blocked subject to these Terms and our internal policies.

Block (of Transaction): An action that may be performed by Safello, the result of which is that a Transaction initiated by a Customer is stopped at the time of initiation, before the funds are transferred to Safello. A Transaction may be blocked subject to these Terms and our internal policies.

Cancel (of Account): An action that may be performed by Safello, the result of which is that a Customer is no longer able to login to his/her Account and initiate Transactions by using his/her Account. This action is final, it cannot be lifted. An Account may be cancelled subject to these Terms and our internal policies.

Cookies: Small text files that are placed on the Customer’s computer by websites that the customer is visiting. Cookies are widely used in order to make websites work, or work more efficiently, as well as to provide information to the owners of the website. Cookies are typically stored on the customer’s computer’s hard drive.

Corporate Customer: Legal person customers of Safello.

Customer: All persons intending to use Safello’s Services therefore conducting the Sign Up Process, whether they are legal persons or natural persons, i.e. Corporate Customers and Natural Person Customers together.

Customer Relationship: Business relationship, i.e. an ongoing connection between a Customer and Safello, the purpose of which is for Customer to utilize Safello’s Services to their full extent for a certain duration.

Freeze (of Transaction): An action that may be performed by Safello, the result of which is that a Transaction initiated by a Customer is not carried out, but the funds remain in the custody of Safello, until the cause for freezing the Transaction ceases and the freezing is lifted. A Transaction may be frozen subject to these Terms and our internal policies.

Natural Person Customer: Natural person customers of Safello.

Occasional Transaction: Transactions carried out by Customers that are not in a Customer Relationship with Safello.

Partner Agent: Safello’s business partners who facilitate access to Safello’s Services using the Safello Widget on their platforms. They do not provide the Service itself.

Politically Exposed Person (PEP): A natural person who is or who has been entrusted with prominent public functions, which functions are further defined by the relevant laws, such as the Swedish Anti-Money laundering Act [Sw. Lag (2017:630) om åtgärder mot penningtvätt och finansiering av terrorism].

Proof of funds: A letter or documentation, typically issued by a commercial bank or custody agent, that proves that a Customer has sufficient funds (money) of legitimate source to complete a Transaction.

Representative: A natural person with rights to represent a legal entity, i.e. the Corporate Customer, without the necessity for the same natural person to be the UBO or the CEO with regards to the Corporate Customer. Representatives in case of Natural Person Customers are not accepted.

Safello Widget: A widget piece of software that is used on a page of a website or an application to give the user changing information of a particular type in a small area of the computer screen. Partner Agents of Safello may place the widget created by Safello on their platforms where Customers can reach it.

Sign Up Process: The process of Registration and Verification, as described in Section 5. of these Terms.

Service(s): Cryptocurrency exchange services offered by Safello, specified in Section 3. of these Terms.

Suspend and freeze (of Account): An action that may be performed by Safello, the result of which is that a Customer is no longer able to initiate Transactions by using his/her Account, until the action is lifted. An Account may be suspended and frozen subject to these Terms and our internal policies.

Tier: The rank Customer is within Safello’s system based on his/her transactions and other relevant actions. Tier determines, first of all the Transaction limits Customer may carry out using Safello’s services. Transaction: An agreement between Customer and Safello, initiated by the Customer for the selling or buying of cryptocurrencies, using the Services of Safello.

UBO: Ultimate Beneficial Owner, i.e. the natural person or natural persons who alone or together with someone else, ultimately owns or controls the Customer and/or the natural person on whose behalf a Transaction or activity is being conducted.

Questionnaire: A set of questions presented to Customer before entering into a Customer Relationship, in order for Safello to comply with its anti-money laundering obligations and learn more about the Customer. Customer will be asked to answer the questions truthfully.

3. Safello’s Services

3.1. Safello, as a cryptocurrency exchange company, provides an online brokerage platform where you as our Customer can safely and securely buy and sell established cryptocurrencies in FIAT-crypto or crypto-FIAT relations. Currently, we support the following cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Bitcoin Cash (BCH).

3.2. We choose the selected list of cryptocurrencies very carefully, based on various criteria, and we may decide to add new currencies to the list or even stop offering any from the above options, based on these criteria. You will be notified of these changes in advance.

3.3. You can reach our Services directly from our website, https://safello.com/, or by using the Safello Widget on one of our Partner Agent’s websites or applications. Whichever way you choose, the Services will be provided by Safello and you will need to accept these Terms. All of our Partner Agents are only providing the interface to connect you to Safello, and by using the Widget you create an Account with Safello and enter into a legal relationship with us.

3.4. Safello does not provide services where you can exchange between different cryptocurrencies, and we also do not offer peer-to-peer trading. Each time you buy or sell cryptocurrencies with Safello, we are on the other side of the transaction, which means that we carry out your order, and you get your fiat or cryptocurrency from Safello.

3.5. Safello does not provide investment or advisory advice and will have no liability for the use or interpretation of information as stated on the Services or other communication mediums. You, as our Customer, must understand that there are risks involved in investing in and trading with cryptocurrencies. We encourage all of our Customers to exercise prudence and to trade responsibly when using our Services.

4. Eligibility

4.1. By signing up and using Safello’s Services, you represent and warrant that you

i. are at least 18 years old,

ii. are an individual, legal person or other organization with full legal capacity and authority to enter into these Terms,

iii. have not been suspended or banned from using Safello’s Services,

iv. are not a politically exposed person (hereinafter: “PEP”) or a PEP’s relative,

v. are not subject of any sanctions list,

vi. do not have an existing Safello Account,

vii. have a Swedish BankID and

viii. as a legal person are registered in Sweden.

4.2. By accepting these Terms on behalf of a legal entity as an employee, agent, or representative, you shall ensure that:

i. such legal entity is duly organized and validly existing under the applicable laws of Sweden, and

ii. you have the necessary rights and authorization to establish a Customer Relationship or Transaction in the name of the legal entity you are representing.

5. Registration and Verification

5.1. In order to be able to use our Services, you must sign up, create an Account with Safello and be identified and verified. Only then, you may carry out a Transaction.

5.2. In order to meet the legal requirements concerning money laundering and terrorism financing prevention, we must obtain certain knowledge of our Customers. For this reason, we have a legal obligation to check and verify the identity of our Customers. In case of Corporate Customers, we are obligated to assess and check their ownership structure as well. In certain instances, we must also receive knowledge of the origin of funds and other assets. Therefore, Safello may ask for information in relation to your identity and proof thereof and if needed, we may ask for other information to determine the proof of funds. In case of Corporate Customers we are also required to ask you to provide the company’s registration details and information on the individuals who are in control of the company.

5.3. At Safello, we ensure making the above process as simple and convenient for you as we possibly can. In order to sign up to use our Services, you need a Swedish BankID. With the BankID, you can login, identify and verify yourself all at once. Following the verification of your identity, if you are a Natural Person Customer, you will be able to carry out Occasional Transactions, unless Safello determines that we need more information from you, which you will be notified about.

5.4. As a Natural Person Customer, after carrying out your 5th Transaction, you will be invited to enter into a Customer Relationship with Safello. You will be asked to fill out a Questionnaire where Safello can learn more about your preferences and gather more information about you, so that we can be compliant with our anti-money laundering obligations, and in order for us to keep providing our Services to you smoothly. We appreciate your cooperation in the process.

5.5. Corporate Customers must enter into a Customer Relationship before they initiate the first Transaction. This allows Safello to gather all the necessary knowledge of the company, which is required by anti-money laundering regulations. If you are a Representative of a Corporate Customer, we will ask you to provide certain documents and information, such as the certificate of registration of the company, proof that you are authorized to represent the company and other relevant documentation.

5.6. For safety, security and anti-money laundering purposes, we will ask you to identify yourself using BankID before each Transaction, whether you are a Natural Person Customer or a Representative of a Corporate Customer and regardless of having a Customer Relationship with us.

5.7. Safello adheres to applicable legislation on money laundering and terrorism financing prevention. Under such legislation Safello is required to disclose any suspicions of money laundering or terrorism financing to the relevant police authorities. Safello is not permitted to inform its Customer should such suspicion arise.

5.8. By accepting these Terms, you represent that any and all information you provide us with is true and accurate, and you agree to promptly update any information you provide to Safello so that such information is complete and accurate at all times. Any false or fraudulent information and/or use of the Services rendered to you is prohibited.

5.9. If there is any reasonable doubt that any information provided by you is wrong, untruthful, outdated or incomplete, or eventually false or fraudulent, we will send you a notice to demand corrections, remove relevant information directly or, in certain cases, terminate our Services to you along with terminating the legal relationship between you and Safello, and cancelling your Account at our sole discretion, pursuant to Section 11 of these Terms.

5.10 You are solely and fully responsible for the consequences of your use of our Service and any loss or expenses incurred during the use of our Service, especially but not limited to the case when you cannot be reached through the contact information provided.

5.11. Safello may, based on our internal policies, refuse to open an Account for you, or refuse to enter into a Customer Relationship, whether you are a Natural Person Customer or a Corporate Customer.

6. Account Usage and Account Security

Our goal at Safello is to provide you with a safe option for buying and selling cryptocurrencies. In order to achieve this, we have certain rules on how you may use your Account and how you can contribute to the security of your own Account.

6.1. Account usage

6.1.1. Accounts can only be used by the person whose name they are registered under. Safello reserves the right to suspend and freeze, block or cancel Accounts that are used by persons other than the persons whose names they are registered under, or Accounts that are used by more than one person.

6.1.2. You shall immediately notify us at if you suspect or become aware of any unauthorized use of your account. Safello will not be liable for any loss or damage arising from any use of your Account by you or by any third party (whether or not authorized by you).

6.1.3. As a Representative of a Corporate Customer, by accepting these Terms on behalf of the company you represent, you understand and agree that your BankID will be connected with the account of the Corporate Customer, for identification and verification purposes. Therefore, the Corporate Customer account connected to your BankID cannot be used for your individual purposes. Each Transaction that you initiate when logged in with your BankID is made on behalf of the Corporate Customer.

6.2. Account Security

6.2.1. We strive to maintain the safety of our Services, therefore we have implemented industry standard protections. However, there are risks that are created by individual Customer actions. You agree to consider your access credentials, i.e. your BankID, as confidential information and to not disclose such information to any third party. You also agree that you alone are responsible for taking necessary safety precautions to protect your own account and personal information.

6.2.2. You are responsible for all activities under your Account and Safello will not be responsible for any loss or consequences of authorized or unauthorized use of your Account.

7. Use of the Services

7.1. General

7.1.1. By accepting these Terms and using our Services you agree and warrant that you will use our Services in a lawful manner and in good faith and that you will not use it in any way described in Section 8. on Restricted Use.

7.1.2. You can buy a selected variety of cryptocurrencies from Safello and you can also choose to sell your cryptocurrencies to Safello.

7.1.3. Due to regulations concerning money laundering and terrorist financing prevention and our internal policies accepted in order to comply with our obligations, there are limits regarding the amount of Transactions that can be performed using the Services and to how large such Transactions can be. In this regard, you agree to comply with the limits as set out by Safello from time to time.

7.1.4. Safello may set different Transaction limits for Customers based on objective criteria set out by Safello’s policies. Safello uses 3 Tiers to differentiate between Customers according to this Section, and Customers can move between these Tiers if the criteria for the upgrade is fulfilled. You can find the applicable Tiers and Transaction limits by following this link, and you will receive information on your Tier and Transaction limits each time you login to your Account and initiate a Transaction.

7.1.5. Tier 3 Customers will be asked to consent to having their bank account history analysed by Safello through automated financial analysis, in order to increase the spending limit described in Section 7.1.4., on their Account. The process is voluntary, if you do not wish to consent, you will be able to continue using our Services with your previous Transaction limits.

7.2. Buying of cryptocurrencies

7.2.1. We provide you with the possibility to buy cryptocurrencies using our online platform. In order to purchase cryptocurrencies, you need to set up and use a wallet, for which you may choose any third-party provider. Safello does not offer cryptocurrency wallets and we are not responsible for the third-party wallet that you choose. You may be required to accept a third party’s user terms in order to use the wallet.

7.2.2. You are only permitted to buy and send cryptocurrencies currencies to your own wallet address, that you yourself alone can access and are in control over. You have to ensure that you have full control over your wallet. Safello can and will not be able to provide you support in logging in to your cryptocurrency wallet, or to reverse the transaction sent to it. In the event of misuse or suspected misuse of the wallet, you must immediately notify Safello via email sent to fraud@safello.com.

7.2.3. You can buy cryptocurrencies using different payment method options, such as Swish, Bankgirot, SEPA, Autogiro, Direct Payment as well as credit cards. We may choose to remove any of these options or to add further payment methods at any time. The available payment options at the time will always be presented to you when initiating a Transaction. You are required to use the same BankID associated with your Safello Account, in order to upkeep the safety of our Services and to make sure that there is no misuse of an account when you use your BankID to initiate the Transaction, via any available payment option.

7.3. Selling of cryptocurrencies

7.3.1. We also provide you with the possibility to sell cryptocurrencies for Swedish crowns (SEK) using our online platform. In order to do so, you must specify a bank account when initiating the Transaction, to which we will transfer your SEK after receiving the cryptocurrencies.

7.3.2. The currency exchange is carried out in accordance with the exchange rate applicable at the time when Safello has received your cryptocurrencies, after two or more block confirmations, depending on the blockchain. This applies regardless of whether the exchange rate has changed up or down during any period of time between you sending the cryptocurrencies to Safello, and the initiation of the bank transfer of SEK from Safello to you. This also applies even if there was a delay in payment whether the delay has been caused by the Customer himself/herself or by Safello, regardless of the length of the time period.

7.3.3. Depending when during the day you will conduct the operation and in which bank your bank account is, we will send your SEK to you within 1-2 business days following the two confirmations mentioned in Section 7.3.2.

7.3.4. We will only transfer your SEK to your own bank account, that you alone can access and are in control over of which you are solely responsible. You may also use a joint bank account for receiving the transfer from Safello, in which case it is also your responsibility that only you and those who are the joint owners of the account can access and have control over the bank account, and Safello is not responsible for any dispute between the joint account holders.

7.4. Refunds

7.4.1. Sent cryptocurrencies currency cannot be refunded if the order has been processed and registered on the Blockchain. Regular currency can only be refunded if the order has not been processed. Refunds can only be transferred to Customer’s own account and in case of doubt, Safello can request a bank statement from Customer’s bank. Refunds performed on behalf of Customers’ requests are subject to a small fee as specified in the section below.

7.5. Fees

7.5.1. Fees for transactions are charged as displayed on the Fee page on the Safello website. Please follow this link to access the Fee page.

8. Service Restrictions and Restricted Use

8.1. Safello’s website and Safello’s Services do not address people who are prohibited under the applicable laws or regulations of their citizenship, domicile or residence from having access to or using such websites and services.

8.2. Before using Safello’s Services, you agree to comply with the restrictions in this Section and to use our Services according to these rules only. People who are prohibited from having access to the information on this website, or those who are in doubt whether or not they are permitted to access or use Safello’s services or not, are kindly requested to leave the Safello website.

8.3. We do not offer our Services to individuals who are subject to any sanctions lists or to those who qualify as PEPs, in order to provide compliance with regulations applicable to Safello and our internal policies. Safello doesn’t serve users with hidden or protected identities.

8.4. Customers who have changed their name or gender will be requested to provide documentation confirming those changes. Customers who desire to pay via Safello’s Widget are obliged to use the Swish account which is connected with their Bank ID. Usage of different Swish accounts with a different Bank ID is prohibited.

8.5. You, as a Customer, agree to comply with the requirements of applicable laws, regulations and every guideline of Safello.

8.6. The use of Safello’s services for illegal or unlawful purposes are strictly prohibited, including but not limited to:

i. money laundering, terrorist financing, financing weapons of mass destruction or weapons of any kind;

ii. Financing human trafficking;

iii. Financing any goods or services, promotions, offers or marketing that can violate intellectual property rights or other rights of any person;

iv. Financing any kind of drugs;

v. Financing illegal gambling services or laundering money originating therefrom;

vi. Financing media that is harmful to minors, violates laws and, in particular, the provision in respect of the protection of minors;

vii. Financing the trade of protected animals or protected plants;

viii. Financing any legal or illegal purchase of goods, technology, services or transactions;

ix. any other use that is against applicable laws or is unlawful.

8.7. Your use of our Services shall not violate public interests, public ethics or others’ legitimate interests including but not limited to taking any action that would interfere with, disrupt, negatively affect or prohibit other Customers from using the Services.

8.8. You are not allowed to use Safello’s Services for the purposes of conducting any payments for technology, products or services with the help of Safello.

8.9. You shall not use our Services for market manipulation.

8.10. The use of any “deep link,” “page scrape,” “robot,” “spider,” or other automatic device, program, script, algorithm, or methodology, or any process, to access, acquire, copy, or monitor any part of the Safello’s properties or in any way reproduce or circumvent the functioning of the Services to obtain or attempt to obtain any materials, documents, or information through any means not purposely made available through the Services is strictly prohibited.

8.11. Probing, scanning, or testing the vulnerability of Safello’s Services or any network connected to it, nor breach the security or authentication measures on the Services or any network connected to the Services is strictly prohibited. Connection to Safello Widget API is only possible after receiving a prior written permission from Safello, any unauthorised connections will trigger a notification of law enforcement.

8.12. Taking any action that imposes an unreasonable or disproportionately large load on the infrastructure of the Services or Safello’s systems or networks or any systems or networks connected to the Services, or using any device, software, or routine to interfere with the proper functioning of the Services or any transaction conducted on the Services, or with any other person’s use of the Services is strictly prohibited.

8.13. You shall not be impersonating a person, manipulating identifiers or using the Service via means of social engineering in order to disguise identity or the origin of any message or transmittal sent to the Services.

8.14. The consequences of any use of Safello’s Services contrary to these Terms are described in Section 11.1.-11.3.

8.15. Safello, or our employees have the right to publish, on our website or other platforms, the alleged violations and actions that have been taken, anonymized without any personal information connected to the data, provided that such publication is compliant with all applicable rules and regulations.

8.16. Safello reserves the right to not process Transactions if they are either too small or too large, as described in Section 7.1.3.

9. Risks and Warnings

9.1. Safello aims to provide a highly trustworthy, secure, compliant and excellent service in the crypto-exchange industry, however, we also acknowledge and inform our Customers of the risks in connection with activities with cryptocurrencies.

9.2. Customers shall understand and shall build knowledge about the inherent risks of cryptocurrencies and how to manage cryptocurrency.

i. Cryptocurrencies and their pricing are not guaranteed by any organisation or state and cryptocurrencies may therefore not be considered as a monetary asset. Cryptographic units of value are not legally currencies and are accepted only in a few jurisdictions and only by some market participants as a means of payment which is why customers shall be aware of the restricted usage and risks.

ii. Customers shall be aware of the risk of theft and internet vulnerability at all times and Safello encourages its Customers to take necessary precautions, to follow instructions carefully and to build proper knowledge surrounding these matters. Using the platform and the services of Safello also comes with risks but the Customer shall lower these risks by applying proper care in transacting with his or her cryptocurrency, funds, wallets and Safello. Every activity connected to the internet comes with risks of cyber related crime towards one’s assets. Safello is not a custodian of cryptocurrency and will only send cryptocurrency directly to the wallet address provided by the Customer. For your own safety, you are also not allowed to use Safello’s Services through using third party service providers or by accepting support from any third party. You should only use Safello’s website and the Widget for the purposes allowed under these Terms, only by your own will and for your own benefit, not for sending money to other parties. By not adhering to these terms of service, you may become the victim of third-party fraud. To prevent known fraud methods from occurring again, we list them in this FAQ collection.

iii. Buying and selling cryptocurrency is highly speculative with a high risk of volatile changes to pricing and transaction completion time. There is always a risk of abandonment or lack of success in a transaction which Safello targets to minimize as risk by supporting such transactions through its service. Safello does not bear any responsibility for volatility between placement and execution of orders.

iv. Customers shall inform themselves on the relevant tax consequences related to buying, selling and transacting in cryptocurrency in their jurisdiction. In Sweden, you might review the section on cryptocurrencies from the Swedish Tax Agency (Sw Skatteverket) for more information here.

v. Regulatory risks are present since the internet is worldwide, and cryptocurrency is universally global but not accepted in all jurisdictions. The Customer shall be informed about regulatory and legal changes which may impact their ownership and transaction capabilities in cryptocurrency.

vi. Customers shall be aware of the transmission risks of the internet. The internet-based trading system includes for example the failure of hardware, software, and Internet connections. By the use of Service, the Customer acknowledges that Safello is not responsible for any communication failures, disruptions, errors, distortions or delays experienced during the use of Service.

vii. Transactions of digital currency are irreversible and can only be refunded by the receiving party, which is why Safello is only allowing you to exchange fiat to cryptocurrency and cryptocurrency to fiat to your bank account and wallet only.

10. Term and Termination by the Customer

10.1. This agreement between you and Safello shall remain in effect until terminated.

10.2. You may terminate your legal relationship with us at any time, even though we would be sad to see you go. You can terminate your relationship with us with immediate effect by written termination to . We would appreciate it if you provide us with information on the reasons for this termination so that we have the opportunity to improve.

10.3. You agree to pay all fees for Services performed and expenses incurred prior to the termination of these Terms.

10.4. You understand that your Account will be cancelled upon effective termination of these Terms, and you will not be able to access it further on.

10.5. You understand that termination of your Account does not also mean erasure of your personal data by Safello, as we are legally obligated to retain such data in most cases. Please see our Privacy Policy for more details on how we handle your data.

11. Breach of Terms and Early Termination by Safello

11.1. We may choose to terminate our legal relationship with you immediately if you violate these Terms, our policy framework or any additional agreement that may have been concluded between you and Safello. In such cases, we reserve the right to cancel your Account and terminate your access or use of the Services and the Safello website without notice and at our discretion.

11.2. Upon material breach of a Customer, we reserve the right to investigate violations of these Terms and to take any relevant action, including but not limited to freezing or blocking a Transaction, suspending and freezing or blocking your Account, reporting suspected unlawful activity to law enforcement authorities in Sweden, or to any other relevant authorities, regulatory institutions, disclosing any information necessary or appropriate to such entities relating to Customer profile, email addresses, the Customer’s addresses and traffic information that these entities would require in their proceedings.

11.3. If Safello determines that the use of the Services is not in accordance with applicable policies and/or these Terms, or if the use could be a violation of law or regulation in such person’s home country jurisdiction or any other related jurisdiction, or considered to be too great a risk from an anti-money laundering or other risk perspective, Safello will not provide its Services to that person. If Safello suspects the previously mentioned activities, Safello also has the right to

i. freeze and block Transactions;

ii. suspend and freeze Accounts;

iii. report the suspicious activity to authorities.

11.4. The Account of a Customer may further be suspended and frozen or blocked due to the request of authorities entitled to issue such a request.

11.5. The decision on whether to suspend and freeze, block or cancel an Account, freeze or block a Transaction or terminate the legal relationship between you and Safello pursuant to these Terms, especially Sections 11.1.-11.3. is made by Safello in its sole discretion, based on these Terms, our applicable external and internal policies, and shall be proportionate to the severity of the Customer breach and the potential risks associated with such breach.

11.6. The suspending and freezing or blocking of an Account of any Customer can be lifted if the reasons for such action are no longer present. Following such action, you will regain full control of your Account and may initiate Transactions again, but Safello has the right to suspend and freeze or block your Account again, subject to these Terms.

11.7. You acknowledge and agree that Safello will not be liable or have any obligation towards you in any event present in this Section, however, we commit to communicate with you on the reasons in the swiftest possible manner, unless prohibited by law. We specifically aim to comply with our anti-money laundering and counter-terrorism financing obligations to the highest standard possible.

11.8. We maintain full custody of the funds arising from any initiated but unfinished Transaction and Customer data/information which may be turned over to governmental authorities in the event of Account suspension and freeze or closure arising from fraud investigations, violation of law investigations or violation of these Terms. It is for the relevant authorities to determine what we may do with such funds.

11.9. In case it is permitted by applicable laws and regulations, in situations where Safello is in custody of funds arising from initiated but unfinished Transactions, and the Customer cannot be reached after multiple attempts to contact him/her over a significant period of time, Safello may transfer these funds to non-profit organizations in Sweden, provided that all relevant conditions of applicable laws and regulations are fulfilled.

12. Intellectual Property Rights

12.1. Safello, in all circumstances, retains immaterial property rights (including but not limited to copyright, trademarks, trade names etc.) of the software, the website and of all content on it. Publication, reproduction, transfer or storage of the contents of the website as such or part of it is prohibited, unless Safello has given prior written permission for such action.

12.2. The software, the website and the published contents shall only be used for the purpose of using the Services and only for your own use. For this purpose, Safello provides for the customer a revocable, limited, royalty-free, non-exclusive, non-transferable and non-sublicensable licence to access and use the software, website and the contents on it.

12.3. By accepting these Terms, you agree to respect the rights of Safello and agree to use the aforementioned contents according to the applicable law. These contents and their source shall be quoted and indicated according to the applicable copyright legislation.

12.4. The trademarks or logos included on the site shall not be reproduced, published or distributed or used in any manner without the previous written consent of Safello. Rights of third parties related to their publications, trademarks and other intellectual properties shall also be handled as Safello’s unless otherwise permitted in writing by their respective owners.

12.5. The Services, if applicable, and the related intellectual properties shall not be modified, reproduced, decrypted, duplicated, copied, downloaded, stored, further transmitted, disseminated, transferred, disassembled, broadcasted, published, removed or altered without Safello’s prior written consent.

13. Liability and Responsibility

We need you, as our Customer, to understand the following limitations towards our liability for certain situations. At Safello, our focus is always on our Customers but as we cannot foresee the outcomes of every possible action, you need to understand what we can and cannot take responsibility for.

13.1. Disclaimer of Warranty

13.1.1. Safello’s Services and the Safello website are provided “as is” and your use of the Services and the website is solely your responsibility. We aim to provide the best available means of protection of our Services and to secure all data and funds belonging to you, as our Customer. However, we provide no warranty as to the availability or accuracy of the Safello website or its content.

13.1.2. We keep improving and upgrading our website and our Services, which may result in occasional server outages. We may perform maintenance or changes to the Service at any time we see fit, however, we aim to schedule maintenance when our servers are less busy. This still could result in periods during which the Service is temporarily unavailable. We will, to the extent that it is possible, announce such interruptions in advance. However, we are not required to do so, and we are not responsible for any damages or losses resulting from server outages.

13.1.3. Should our Services be disabled, Safello will, as soon as it will be possible, notify the Customer through all available means of communication about steps taken and the projected date when the Services is expected to be reinstated.

13.1.4. In case our Services are disabled for a period of time longer than seven (7) working days we will consult our Customers about withdrawal of funds from unprocessed transactions.

13.2. Limitation of responsibility and liability

13.2.1. Safello and Safello´s third-party providers do not have any responsibility for content that is presented on Safello’s website which directly or indirectly damages or creates a loss for our Customer or any other person who is affected. Safello specifically claims no responsibility for direct or indirect damages, loss of profit or income, or any other damage towards the Customer or a third party that might occur due to inconsistent, false or non-existent information presented on the website. This also applies to any outages, delays or corrupted data that might happen to Safello or its third-party service providers due to technical reasons.

13.2.2. Safello claims no responsibility for any information given to Safello by a third-party vendor or their products presented at Safello. Safello also assumes no liability for how information is presented by a third-party vendor. Any error or delay is outside Safello’s liability. Neither Safello nor the web service provider are responsible for how you choose to use the information presented at the website. You are solely and fully responsible for the consequences of your access and use of our Service and any loss or expenses incurred during the use of our Service.

13.2.3. Safello reminds you that handling of cryptocurrencies is combined with great risks, see Section 9 on Risks and Warnings. Any commerce that the Customer might conduct with the products purchased from Safello is outside our responsibility. We also assume no responsibility for how the information presented by any Safello website is interpreted.

13.2.4. Safello shall not be liable for any loss that you may incur as a result of malfunctions, errors, security breaches, corrupted wallet files, forgotten passwords, incorrect transactions or mistyped cryptocurrency wallet addresses or any other reason, including but not limited to damages incurred as a result of viruses, worms, macros or hacking activities.

13.2.5. Please immediately notify Safello if you suspect any security breach, caused by you or anyone else. If you experience or notice suspicious activity, please contact us via email:

13.2.6. To the extent permitted under law, we are not liable to any Customer or any third party for any direct damages, indirect damages or any other damages of any kind including but not limited to loss of profit, loss of income, loss of revenue, business interruption or goodwill losses arising out of or in connection with these Terms or the use or inability to use or access the Services. We are not liable to you for any claims made by third parties towards you.

13.2.7. You agree that Safello shall not be liable to you or to any third party for any losses suffered by any modification or amendment of these Terms of Service.

14. Indemnity

14.1. You agree to protect, defend, indemnify and hold harmless Safello, our officers, directors, employees, agents and third party service providers from and against any and all claims, demands, costs, expenses, losses, liabilities and damages of every kind and nature (including, without limitation, reasonable attorneys’ fees) imposed upon or incurred by Safello directly or indirectly arising from

i. your use of and access to Safello’s website or our Services;

ii. your violation of any provision of these Terms or other relevant Policies;

iii. your violation of any third-party right, including without limitation any intellectual property or other proprietary right.

15.1. Where Safello provides text links to third party websites, such links are not an endorsement by Safello of any products or services provided on or via such websites. The use of such links is entirely at the Customer’s own risk and Safello accepts no responsibility or liability for the content, use or availability of such websites. Safello has not verified the truth, accuracy, reasonability, reliability, relevance or completeness of any content of such websites.

16. Change of these Terms

16.1. Safello reserves the right to revise, modify, update, supplement its Terms, policies, content, information, promotions, disclosures, disclaimers and features at any time and without prior notice at the sole and absolute discretion of Safello. Customers shall preferably be notified two weeks in advance if changes are made to these Terms.

16.2. For further use of the Service after any modification, you shall accept the new Terms of Service, otherwise the Service will not be available. You have the right to opt out from the new Terms, by terminating the Customer Relationship with Safello and closing your Account by the date these changes come into effect. The modified Terms of Service shall apply for further Transactions after becoming effective.

17. Cookies

17.1. The Safello website is using cookies. For the best user experience these shall be accepted by the Customers. However, you have the right to change the cookie settings of your browser and block Cookies. You must be aware that disabling Cookies can have a negative effect on the website’s functions and the Service may not work as intended.

17.2. You can find more information about the use and functions of Cookies in Safello’s Privacy Policy.

18. Data Protection

18.1. Safello shall follow its Privacy Policy, published on its website related to data privacy and data protection. You can learn more on https://safello.com/legal/gdpr about Safello’s compliance with GDPR and how you can exercise your related rights.

19.1. Safello is not your broker, intermediary, agent, or advisor and we have no fiduciary relationship or obligation to you in connection with any Transactions or other decisions or activities that you carry out using our Services. We do not offer advice but are more than happy to share information. No communication or information provided to you by Safello should be understood as investment advice, financial advice, trading advice, or any other sort of advice.

19.2. We will not be responsible for the decisions you make to buy, sell, or hold cryptocurrency based on the information provided by Safello. Before you make the decision to buy, sell or hold any cryptocurrencies, please consult your own legal or tax professional regarding your specific situation.

20. Compliance and Taxation

20.1. It is your responsibility to abide by the laws in relation to the legal usage of Safello. When using our Services, you acknowledge and declare that the source of your funds is legitimate, and they are not derived from illegal activities. We are hereby letting you know that we maintain a stance of cooperation with law enforcement authorities globally and will not hesitate to suspend and freeze, block or cancel the Account and funds of Customers which are flagged or investigated by legal mandate.

20.2. It is also your responsibility to pay all your taxes. Duties which can be resulted from the use of our Services should be paid according to the applicable regulations.

20.3. We are not responsible for any violation made by any Customer due to his/her obligation to calculate and pay taxes and duties.

21. Governing Law and Dispute Resolution

21.1. The Swedish law is applicable to these Terms and Safello’s website and services. You accept that all disputes shall be settled primarily in a peaceful way. Customers shall contact Safello at before initiating legal proceedings. For any disputes, claims or controversies arising out of any Customer Relationships and Transactions, the courts of Sweden shall have exclusive competence, unless expressly stated otherwise by applicable laws or regulations of binding nature.

21.2. If you are a Natural Person Customer, using our Services in your capacity as a consumer, you may contact the National Board for Consumer Disputes (Sw. Allmänna Reklamationsnämnden) for guidance, or read more about Swedish consumer protection at https://hallakonsument.se.

22. Miscellaneous

Severability. If a competent court deems any term or provision of these Terms null and void, other provisions of these Terms will not be affected by it and the validity and enforceability of any remaining part, term or provision stays effective.

Entire Agreement. These Terms constitute the entire agreement between you and Safello. Other regular practice or methods of dealing between the parties will not be used to modify, interpret, supplement, or alter these Terms.

Waiver. Safello’s failure or delay in exercising any right, power or privilege under these Terms shall not be interpreted as a waiver thereof.

Language. These Terms as well as information about the Services are provided in English. Any other communication between Safello and the Customers shall be in English or in Swedish.

Force Majeure. Safello is not accountable for any kind of damage you may experience from events beyond Safello’s control. These events include but are not limited to explosion, fire, flooding or other accidents, epidemic, pandemic, sabotage, event of warfare, strike or other work-related conflict, changes of laws or regulations, or other decisions made by regulatory bodies. The conditions about strike or other work-related conflict also apply in cases where Safello takes action or is a target for such a conflict. Except from what can normally be understood as events outside of Safello’s control, an event that is considered costly or onerous for Safello compared to normal operation, shall not make Safello obligated to compensate for damages you might experience if Safello has exercised orderly caution.

Assignment. Agreements between Safello and the Customer is solely for the benefit of the parties and may not be transferred to another party. Customers cannot assign or transfer any rights or obligations under these Terms.

Headings. Headings of sections are for convenience only and shall not be used to limit or construe such sections.

Contact Information. For further questions Customers shall contact Safello’s Customer Support team at .