Cryptocurrency Payments

[Last Updated: April 11th, 2018]

These Cryptocurrency Payments Terms (“Cryptocurrency Terms”) are an integral part of the Publisher T&C incorporated therein by reference. These Cryptocurrency Terms shall apply to you if shall be agreed between the parties the Company shall provide you payments by Cryptocurrency, as detailed herein. Definitions herein shall have the meaning assign to then in the Publisher T&C.

The Company reserves the right to modify, correct, amend, these Cryptocurrency Terms, as well as cease Cryptocurrency payments method, at any time. We will notify you regarding substantial changes of the Cryptocurrency Terms on the homepage or we will make best efforts to send you an email regarding such material changes to the email address that you provided in the registration form. All changes to these Cryptocurrency Terms are effective as of the stated “Last Updated” date, and you will be bound by the revised terms, unless providing the Company with a written notice stating you wish to cease receiving Cryptocurrency payments.

Subject to the terms herein, you can set up your Account to receive payments in Cryptocurrency (i.e., Ethereum tokens). 

Which digital wallet can you use?

You can use only an ERC-20 wallet (“Wallet”) based that can receive Ethereum or other ERC-20 coins (“Cryptocurrency”). The Publisher’s use of the Wallet is solely between the Publisher and the applicable third-party Wallet provider and operator (“Wallet Provider”), and subject to its terms of use, which we encourage you to review carefully. The company has no control over and is not responsible for the Wallet Provider, its terms, actions, or any errors or disruptions that may occur and it 

Fees for payment in cryptocurrency

There are fees associated with the Cryptocurrency payment method:

 Ethereum

1.49% conversion fee plus 0.000441 ETH network fee (network fees may vary).

Important: Ethereum volatility risk

Cryptocurrency exchange rate is NOT guaranteed. The Company will pay based on the exchange rate while performing the transaction without the ability of the Publisher to know, confirm, evaluate or approve it.

Example

Publisher’s earnings are $1,000. The Company will pay the Publisher X number of Ethereum based on the exchange rate during the transaction processing schedule, which cannot be confirmed, changed or known by the Publisher. You agree that the Company’s evaluation regarding the exchange rate, and accordingly the total sum of Cryptocurrency paid to you, shall be final and non-disputable, any you will not have any claim or demand from the Company in this regard.

Following the Cryptocurrency payment transaction, the company shall provide the Publisher with the Cryptocurrency’ payment’s details by email (“Payment Notice”). The Company shall make efforts to provide the Payment Notice at the beginning of the applicable month.   

When do you need to update your payment information?

If you wish to receive payment in Cryptocurrency, you must update your payment method through your Account before the 20th of every month. Any changes made after the 20th of the month will not take effect until the following payment cycle.

Example

If you wish your payments for March to be made in Cryptocurrency, you must update your payment method prior to February 20th.  If you have updated your payment method on February 21st, your payment will be held until the next payment cycle.

Requesting payment in cryptocurrency 

To request Cryptocurrency payments, please follow the steps below (“Cryptocurrency Payment Request”): 

  1. Once logged into your Account, click “My Payments” and then click “Settings”.
  2. Click the “next” button located underneath your payment details to proceed.
  3. Select “StartApp External Payment” as your payment method and click “next”.
  4. Complete your tax form information and click “next”.
  5. Click “Crypto Settings” on the left side menu.
  6. Choose your preferred Cryptocurrency section.
  7. Enter your wallet address and click “Save”.
  8. In the event you have successfully submitted your Wallet information, you will be displayed with a confirmation message. Please note this confirmation is solely with respect to successful submission and does not constitutes Company’s approval for the Cryptocurrency payment method. You are solely responsible for the wallet details provided by you and its accuracy and you will update us immediately following any change of the wallet details.

 

Approval period

The Cryptocurrency payment method is subject to the Company’s prior written approval. Within 2-3 business days, following submission of a Cryptocurrency Payment Request, the Company will notify you by email if your Cryptocurrency Payment Request was approved or rather rejected, subject to the Company’s sole discretion.

 

Rejected status

I the event your Cryptocurrency Payment Request was not approved, you are required to revise your payments’ settings, as follows:

  1. Once logged into your Account, click “My Payments”, then click “Settings”.
  2. Click the “next” button located underneath your payment details to proceed.
  3. Select another payment method which is NOT “External Method” as your payment method and click “next”. Complete your tax form information and click “next”.

 

Approved status

As stated above, in the event your Cryptocurrency Payment Request was approved by the Company, the Company will provide you with the Cryptocurrency payment details by email at the beginning of each applicable month. Please note that the Company may withdraw its approval, at any time, subject to the Company’s sole discretion, with or without cause, as well as according to transfer limitations which may apply by the Wallet Provider or other regulatory requirements.

 

Switching back from crypto payments to other methods

I the event that you would like to switch from Cryptocurrency Payment to another method, you are required to revise your payments’ settings, as follows:

  1. Once logged into your Account, click “My Payments”, then click “Settings”.
  2. Click the “next” button located underneath your payment details to proceed.
  3. Select another payment method which is NOT “StartApp External Method” as your payment method and click “next”. Complete your tax form information and click “next”.

Representations, warranties and important warnings

Before changing your settings and requesting to receive Cryptocurrency payments, for your own safety, please take some time to understand cryptocurrency and how it works. While choosing to be provided with Cryptocurrency payment, there are material risks involved, including instability of technology, failure of tokens redemption, and higher volatility comparing to other currencies. Please heed these warnings to reduce your risk of funds being stolen. You and only you are responsible for your security.

The below is NOT and shall NOT be considered as professional advice. You are required to conduct your own evaluation, review and search applicable information regarding cryptocurrency payments in order to make an informed decision.

In the event you choose to be paid with Cryptocurrency, you acknowledge, represent and warrants that: (i) you will be solely liable and responsible for the security of your cryptocurrency, any decrease in exchange rate and any other risks involved in cryptocurrency payments; (ii) you have independently evaluated the desirability, applicability and regulatory requirement of cryptocurrency payments, which are entirely at its own risk; and (iii) you will abide the Wallet Provider terms and any other regulatory requirement applicable to you. IN ANY EVENT, THE COMPANY WILL NOT BE LIABLE FOR ANY DAMAGES OR LOSS INCURRED TO THE PUBLISHER OR ANY THIRD PARTY AS A RESULT OR IN CONNECTION WITH THE CRYPTOCURRENCY PAYMENTS.

Was this article helpful?
0 out of 1 found this helpful