Cloudswap: swap crypto in minutes, no sign-up

1. About these terms

These Terms of Service (the “Terms”) are a legally binding agreement between you and [legal entity: to be completed before launch] ([registration number and address: to be completed before launch]), which operates the Cloudswap website, web application and related services (together, the “Service”). In these Terms, “Cloudswap”, “we”, “us” and “our” refer to that operator, and “you” refers to the person using the Service.

The following documents form part of these Terms and should be read together with them:

our AML and KYC Policy, which explains how we screen transactions and when we ask for identity verification;
our Privacy Policy, which explains how we handle personal data;
our Cookie Policy, which explains the cookies and similar storage used by the site.

You accept these Terms each time you create a swap, register an account or otherwise use the Service. If you do not agree with them, do not use the Service. Each swap you create is a separate transaction governed by the version of the Terms in force when that swap was created.

Explanatory pages on the site, such as How it works and the FAQ, are provided for convenience. If they conflict with these Terms, these Terms prevail.

2. Eligibility and restricted persons

You may use the Service only if all of the following are true:

you have full legal capacity to enter into a binding agreement;
you act on your own behalf, or you are duly authorised to act for the legal entity on whose behalf you use the Service;
using the Service is lawful in the country where you live and in the country from which you access it;
you are not a Restricted Person as described below.

Restricted jurisdictions and persons

The Service is not offered to, and must not be used by, any person who (each a “Restricted Person”):

is resident in, located in, organised under the laws of, or ordinarily accesses the Service from a country or territory that is subject to comprehensive sanctions or embargoes imposed by the United Nations, the European Union, the United States (including those administered by the Office of Foreign Assets Control, OFAC) or the United Kingdom;
is named on, or is owned or controlled by or acting on behalf of a person named on, any sanctions list maintained by those authorities or by any other authority that applies to us;
is resident or located in any jurisdiction where the Service, or the exchange of crypto-assets generally, is unlawful, or where offering the Service would require a licence, registration or authorisation that Cloudswap does not hold;
has previously been refused service or had a swap stopped by us for fraud, abuse or a breach of these Terms or of our AML and KYC Policy.

You are responsible for finding out whether you are permitted to use the Service under the laws that apply to you. The availability of the site in a given place is not an invitation or an offer to use the Service there. You must not use a VPN, proxy or any other means to hide your location or to circumvent these restrictions. We may use technical measures to restrict access from certain locations, and we may refuse or stop a swap where we reasonably believe a Restricted Person is involved.

3. The service and how a swap works

Cloudswap is a non-custodial instant exchange service. It lets you swap one supported cryptocurrency for another. You do not need an account to make a swap.

A swap works as follows:

You choose the pair of coins and the amount, and the swap form shows the rate and the amount you will receive.
You enter the wallet address where you want to receive the purchased coins (the “payout address”) and, optionally, an address to which funds can be returned if the swap cannot be completed (the “refund address”).
When you create the swap, you receive a unique deposit address and a swap ID.
You send the coins you are selling to the deposit address.
After the deposit has been confirmed on its network and has passed our automated AML screening, the purchased coins are sent to your payout address.

A swap typically completes in about five minutes. This is an estimate and not a guarantee. A swap can take longer, for example because of network congestion, the number of confirmations required, an AML review, or delays at the third parties involved in executing the swap.

What Cloudswap is not

No wallets or balances. We do not provide wallets, accounts with balances or any custody or safekeeping service. We hold your coins only for the time needed to execute, refund or review a swap as described in these Terms.
No fiat currency. The Service is crypto-to-crypto only. We do not accept, hold or pay out any government-issued currency.
No trading platform. We do not operate an order book, margin trading, derivatives or any investment product.

Swap page

Each swap has its own page, opened by its swap ID, that shows the status of the swap and the addresses involved. Anyone who has the link or the swap ID can view that page. Keep the link and the swap ID private and share them only with people you trust or with our support team.

Supported assets and partners

We decide which coins, tokens, networks and pairs are supported and what minimum and maximum amounts apply, and we may change them at any time without notice. A change does not affect a swap that has already been created and funded in time. To provide the Service we rely on third parties, including a payment processing provider that issues deposit addresses and detects incoming payments, and liquidity and exchange partners that execute swaps and deliver coins.

4. No financial, investment or tax advice

Cloudswap provides a technical exchange service only. Nothing on the site, in the application, in our emails or in conversations with our support team is financial, investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold any crypto-asset.

Rates, estimates and other information are shown for the sole purpose of letting you make a swap. You alone decide whether a swap is suitable for you, and you should take independent professional advice if you are unsure. We do not act as your broker, agent, adviser or fiduciary.

5. Fixed rate and deadlines

Cloudswap works with a fixed rate. The following rules apply to every swap.

Rate shown in the form. The swap form holds the displayed rate for 5 minutes. If you have not created the swap within that time, the form refreshes the rate and the amount you will receive may change.
Deposit window. After the swap is created, you have 15 minutes to send the deposit. The deposit is treated as arriving when the transaction is detected on its network at the deposit address, not when you send it from your wallet or exchange.
Deposit in time. If the full stated amount arrives within the deposit window, you receive exactly the amount shown when you created the swap. The network fee for delivering the coins to you is already included in that amount.
Late deposit. If the deposit arrives after the deposit window has ended, the fixed rate no longer applies. We may execute the swap at the rate in effect at the time the deposit arrives, in which case the swap page shows the new amount you will receive, or we may refund the deposit as described in section 8.

Transfers sent from exchanges and custodial wallets are often delayed by the sender's own processing. Allow for that delay when you decide whether a deposit will arrive in time. We are not responsible for delays in a transaction reaching the deposit address.

If a rate was displayed as the result of an obvious technical error, for example a rate that is clearly out of line with the market because of a faulty price feed, we may cancel the swap and refund the deposit instead of executing it at that rate.

6. Fees

Our commission is included in the rate shown to you. There is no separate service fee added on top of the amount displayed.

The network (miner) fee for delivering the purchased coins to your payout address is included in the amount shown. The amount displayed when you create a swap is therefore the amount you receive if you follow the rules in section 5.

The following costs are not ours and are borne by you:

the network fee and any other charge for sending your deposit, including fees charged by your own wallet or exchange;
network fees for a refund, which are deducted from the refunded amount as described in section 8;
any taxes that arise from your swaps.

7. Your responsibilities

You are responsible for the following.

Correct addresses. You must check that the payout address and any refund address are correct, belong to the right network and can receive the coin concerned. We send coins to the address you entered and cannot change or recall a transaction after it has been broadcast.
Memos and tags. Where a coin requires a memo, destination tag or similar identifier, you must supply it for your payout address and include it with your deposit where the deposit instructions require one.
Your own wallets. You must use wallets that you own or lawfully control, and you are responsible for the security of your wallets, private keys, seed phrases and devices. We never ask for your private keys or seed phrase.
Correct deposit. You must send the exact coin, on the exact network, in the amount stated, in a single transaction, to the deposit address shown for that swap. A deposit address is issued for one swap only and must not be reused.
Smart-contract deposits. Deposits sent from a smart contract or by an internal transaction may not be detected automatically. Send deposits by a standard transfer.
Lawful source of funds. The coins you send must belong to you, come from a lawful source and not be the proceeds of crime or subject to sanctions.
Accurate information. Any information and documents you give us, including during identity verification, must be true, complete and up to date.
Taxes. You are solely responsible for determining, reporting and paying any taxes that apply to your swaps. We do not calculate, withhold or report taxes on your behalf unless the law requires us to.
Local law. You are responsible for complying with the laws that apply to you when you use the Service.

8. Incorrect deposits, refunds and failed swaps

Deposits that do not match the swap

If you send an amount different from the amount stated, we may, at our discretion, recalculate the swap based on the amount actually received, delay it while it is processed manually, or refund the deposit less network fees. Amounts below the minimum for the pair may be too small to swap or to refund once network fees are deducted.

If you send a different coin from the one selected, send the deposit on the wrong network, or omit a required memo or tag, the funds may not be credited to your swap and may be unrecoverable. Recovery in these cases is often technically impossible. Where it is possible, we will make reasonable efforts to help, but we do not guarantee a result, recovery may take a long time, and the costs of recovery and network fees may be deducted. Losses caused by such errors are your responsibility.

When a swap is refunded

We may refund a deposit instead of completing the swap where, for example:

the deposit arrived late and the swap is not executed at the new rate;
the amount received is outside the limits for the pair;
the swap cannot be executed because of a technical failure, a lack of liquidity or a problem at a third party involved in the swap;
the pair, coin or network has been suspended;
the swap is stopped under our AML and KYC Policy and a refund is permitted by law.

How refunds are made

Refunds are made in the coin you deposited, on the network on which it was received, to the refund address you provided when you created the swap.
If you did not provide a refund address, we will ask you for one. We may ask for reasonable evidence that you are the person who made the deposit before sending a refund to an address supplied later.
Network fees for the refund are deducted from the refunded amount. If the amount is smaller than the network fee, a refund may not be possible.
A refund is not paid in a different coin and is not adjusted for any change in market price between the deposit and the refund.

Completed swaps are final

Blockchain transactions are irreversible. Once the purchased coins have been sent to your payout address, the swap is complete and cannot be cancelled, reversed or refunded. Because the Service is performed immediately at your request, you acknowledge that, to the extent the law allows, any statutory right to withdraw from a contract concluded at a distance does not apply once execution of the swap has begun or the price depends on market fluctuations outside our control. Nothing in this paragraph removes a right that cannot be waived under the law that applies to you.

9. AML and KYC checks and holds

Every incoming deposit is screened automatically by a blockchain analytics provider for links to illicit activity. The full procedure is set out in our AML and KYC Policy, which forms part of these Terms. In summary:

deposits assessed as low risk pass automatically and the swap continues without any action from you;
deposits assessed as higher risk are put on hold for a manual review, and the swap is paused for as long as the review lasts;
during a review we may ask you to pass identity verification, which can include a government-issued identity document, a selfie or liveness check and, in some cases, proof of the source of funds. Verification is carried out through a specialised verification provider;
we may also request verification for unusually large swaps or for patterns of swaps that suggest an attempt to avoid checks.

If you refuse verification, if verification fails, or if the funds are confirmed to be linked to illicit activity, the swap will not be completed. In that case the deposit is refunded where the law allows, or frozen and reported to the competent authorities where the law requires.

The fixed rate does not apply for the duration of a hold that lasts beyond the deposit window. If a swap is released after a hold, it is executed at the rate in effect at the time it is released, and the swap page shows the amount, unless the deposit is refunded instead. We are not liable for losses caused by price movements, delay or the freezing of funds where we act in good faith under our AML and KYC Policy or under a legal requirement, and we may be prohibited by law from telling you the reason for a hold.

10. Prohibited use

You must not use the Service, or allow anyone else to use it:

to launder money, finance terrorism, evade sanctions, evade taxes unlawfully, or conceal the origin of funds;
to exchange coins obtained through theft, hacking, fraud, ransomware, darknet markets, the sale of illegal goods or services, child sexual abuse material or any other crime;
if you are a Restricted Person, or on behalf of or for the benefit of a Restricted Person;
to split, structure or route transactions in a way intended to avoid screening, limits or identity verification;
with false, misleading or stolen identity information or documents;
to interfere with or disrupt the Service, including by attacking, overloading, probing or scanning our systems, or by introducing malicious code;
to access the Service by automated means such as bots or scrapers, other than through an interface we have expressly made available for that purpose;
to exploit an error in rates, the cashback programme or any other part of the Service;
to copy, resell or offer the Service to others as your own without our written consent;
in any way that breaches these Terms or any law or regulation that applies to you or to us.

We may investigate suspected breaches, refuse or stop swaps, close accounts, cancel cashback and report the matter to the competent authorities.

11. Accounts and the cashback programme

Optional account

An account is optional. Swaps work without one. You can register with an email address and a password. An account gives you a history of your swaps and lets you take part in the cashback programme. It does not hold coins and is not a wallet.

You must provide an email address that you control and keep it up to date.
You must choose a strong password, keep it confidential and not share your account. You are responsible for activity that takes place through your account unless it results from our own failure to take reasonable care.
Tell us without delay at [contact email: to be completed before launch] if you suspect that someone else has gained access to your account.
One person may hold only one account, unless we agree otherwise.
You may ask us to close your account at any time. Closing an account does not affect swaps already in progress or our duty to keep records as described in our Privacy Policy.

Cashback programme

Under the cashback programme, part of our fee is credited back to your account after each swap that you make while signed in and that completes successfully. The levels, rates and other conditions of the programme, including how cashback can be received, are published on the site.

Cashback is a discretionary loyalty benefit. It is not a deposit, does not earn interest and has no value outside the programme.
We may change the levels, rates and conditions, or suspend or end the programme, at any time. Changes apply to swaps created after the change is published. If the programme ends, we will give you a reasonable opportunity to receive cashback already validly credited, unless the law prevents this or it was earned in breach of these Terms.
No cashback is earned on a swap that is refunded, cancelled or not completed. Cashback already credited for such a swap may be reversed.
We may withhold or cancel cashback in cases of abuse, fraud, manipulation of the programme, the use of multiple accounts to gain an advantage, or any other breach of these Terms.
Cashback is personal to the account holder and cannot be transferred or sold.

12. App and availability

The site can be installed on your device as a web application (a progressive web app, or PWA). The installed application is the same Service and is governed by these Terms. It stores some static files on your device so that it opens faster and can show an offline page, as explained in our Cookie Policy. A swap cannot be created or processed while your device is offline.

The Service is provided on an “as is” and “as available” basis. We aim to keep it running, but we do not promise that it will be uninterrupted, timely or free of errors. In particular:

we may suspend the Service, or particular coins, networks or pairs, for maintenance, security reasons, legal reasons or because of events at a blockchain network or a third party;
the speed of a swap depends on blockchain networks and on the third parties that issue deposit addresses, execute swaps and deliver coins. Their delays, outages, errors and decisions are outside our control;
you are responsible for your own device, software and internet connection, and for using an up-to-date browser.

We are not liable for a failure or delay in performing our obligations that is caused by events beyond our reasonable control, including network congestion or failure, forks, attacks on a blockchain or on infrastructure, failures of third-party providers, power or internet outages, acts of public authorities, changes in law, war, civil unrest and natural disasters. Where such an event prevents a funded swap from being completed, we will complete it or refund the deposit in accordance with section 8 once that becomes possible.

13. Risks of crypto-assets

Using crypto-assets involves significant risks. By using the Service you confirm that you understand and accept them, including the following.

Volatility. Prices can change sharply and quickly. A coin you receive may lose some or all of its value, and where the fixed rate does not apply the amount you receive can differ from the amount first displayed.
Irreversibility. Blockchain transactions cannot be cancelled or reversed. Coins sent to a wrong address, on a wrong network or without a required memo may be lost permanently.
Network congestion and fees. Networks can become congested, which delays confirmations and increases fees. A transaction can remain unconfirmed for a long time or be dropped.
Forks and network changes. A blockchain may fork, be upgraded, be reorganised or stop operating. We decide, at our discretion, which version of a network we support. We are not obliged to support, credit or deliver coins resulting from a fork, airdrop or similar event.
Smart-contract and token issues. Tokens depend on smart contracts and issuers. A token can be paused, frozen, blacklisted, migrated, depegged or made worthless by its contract, its issuer or a vulnerability, and transfers can fail for reasons outside our control.
Unsupported tokens. Coins and tokens that we do not support, or supported tokens sent on a network we do not support for that token, may not be detected and may be unrecoverable.
Technology and security. Software, wallets and devices can fail or be compromised. Phishing sites may imitate Cloudswap. Always check the address of the site before making a swap.
Legal and tax treatment. The legal and tax treatment of crypto-assets differs between countries and may change, which can affect your ability to use the Service or the value of your coins.
No protection schemes. Crypto-assets are not legal tender and are generally not covered by deposit guarantee or investor compensation schemes.

14. Intellectual property

The Service, including the site, the application, the software, text, graphics, logos, illustrations, the “Cloudswap” name and all other content, belongs to us or to our licensors and is protected by intellectual property laws. The names and logos of cryptocurrencies and other third parties belong to their respective owners and are used for identification only.

We grant you a limited, personal, non-exclusive, non-transferable and revocable permission to use the Service for its intended purpose in accordance with these Terms. You must not:

copy, modify, distribute, sell or lease any part of the Service or its content;
reverse engineer or attempt to extract the source code of our software, except where the law expressly allows it;
use our name, logo or branding in a way that suggests a partnership or endorsement, or that could mislead others, without our written consent;
create a site or service that imitates Cloudswap.

If you send us feedback or suggestions, we may use them without restriction and without any obligation to you.

15. Disclaimers

To the fullest extent permitted by law, the Service is provided without warranties of any kind, whether express, implied or statutory, including implied warranties of merchantability, satisfactory quality, fitness for a particular purpose, title and non-infringement.

Without limiting the above, we do not warrant or guarantee:

that the Service will be available at any particular time, or that a swap will complete within any particular time;
that any coin, token, network or pair will remain supported;
the value, stability, legality or future performance of any crypto-asset;
that estimates, market information and explanatory content on the site are complete, accurate or current at every moment;
the performance of blockchain networks, wallets or any third party, including sites that we link to and do not control.

If you are a consumer, you may have statutory rights that cannot be excluded or limited by agreement. Nothing in these Terms affects those rights.

16. Limitation of liability

Nothing in these Terms excludes or limits our liability for fraud or fraudulent misrepresentation, for death or personal injury caused by our negligence, for wilful misconduct or gross negligence, or for any other liability that cannot be excluded or limited under the law that applies.

Subject to the paragraph above and to the extent permitted by law:

Excluded losses. We are not liable for any indirect, incidental, special, consequential or punitive loss, or for loss of profit, revenue, business, opportunity, goodwill or data, or for losses caused by changes in the market price of crypto-assets, whether arising in contract, tort (including negligence), breach of statutory duty or otherwise, even if we were told that such loss was possible.
Matters outside our control. We are not liable for loss caused by your own errors (including a wrong address, wrong network, wrong coin, wrong amount or missing memo), by the loss or compromise of your wallet, keys, device or account credentials, by blockchain networks or tokens, by the acts or omissions of third parties, by events described in section 12, or by action we take in good faith to comply with the law or with our AML and KYC Policy.
Cap. Our total liability to you arising out of or in connection with a swap is limited to the value of the affected swap, meaning the value of the deposit we actually received for that swap, measured at the time of receipt. Our total liability for any claim that does not relate to a particular swap is limited to the value of the last swap you completed in the twelve months before the event giving rise to the claim.

You must notify us of a claim within a reasonable time after you become aware of it, so that we can investigate while records and blockchain data are readily available. These limitations apply for the benefit of Cloudswap and of its directors, employees, affiliates and contractors.

17. Indemnity

To the extent permitted by law, you agree to compensate us, our affiliates and our directors, employees and contractors for losses, liabilities, damages, penalties and reasonable costs (including reasonable legal fees) that we incur as a result of a claim or demand by a third party or an authority arising from:

your breach of these Terms or of our AML and KYC Policy;
your breach of any law or of the rights of another person;
the source or intended use of the coins you sent through the Service;
false, inaccurate or misleading information that you gave us.

This obligation does not apply to the extent that the loss was caused by our own breach of these Terms, negligence or wilful misconduct. If you are a consumer, this section applies only to the extent that the loss results from your culpable breach and only so far as the mandatory law of your country of residence allows.

18. Suspension and termination

We may, with or without prior notice, refuse to create or execute a swap, put a swap on hold, restrict or suspend your access to the Service, or close your account, where we reasonably believe that:

you have breached these Terms or our AML and KYC Policy;
you are a Restricted Person or the Service is being used for unlawful purposes;
it is necessary to comply with the law or with a request or order of a court or competent authority;
it is necessary to protect the security of the Service, other users or third parties;
your account has been used fraudulently or without authorisation.

Where a funded swap is affected, the deposit will be handled in accordance with sections 8 and 9: it is completed, refunded where the law allows, or frozen and reported where the law requires. Cashback may be withheld or cancelled as described in section 11.

You may stop using the Service at any time and may ask us to close your account. We may also discontinue the Service as a whole. If we do, we will complete or refund swaps that were funded before the Service ended.

The provisions that by their nature should continue to apply after termination will do so, including those on intellectual property, disclaimers, limitation of liability, indemnity, governing law and record keeping.

19. Changes to these terms

We may change these Terms from time to time, for example to reflect changes in the law, in the Service, in the assets we support or in our security and compliance practices. The current version is always published on this page with the date of the last update shown at the top.

Changes apply from the moment they are published, to swaps created after that moment. A swap that was created before the change remains governed by the version in force when it was created. If a change materially affects account holders, we will make reasonable efforts to tell them in advance, by email or by a notice on the site.

If you do not agree with a change, you should stop using the Service and may ask us to close your account. Using the Service after a change takes effect means that you accept the updated Terms.

20. Governing law and dispute resolution

Informal resolution first. If you have a complaint or a dispute with us, please contact us first at [contact email: to be completed before launch] and include your swap ID, the transaction hash of your deposit and a description of the problem. We will acknowledge your message and try in good faith to resolve the matter. Most problems are resolved in this way. Both you and we agree to attempt informal resolution for at least 30 days from the date of your message before starting court proceedings, unless urgent interim relief is needed.

Governing law. These Terms, and any dispute or claim arising out of or in connection with them or the Service, including non-contractual disputes or claims, are governed by the laws of [governing jurisdiction: to be completed before launch], without regard to its conflict of law rules.

Courts. If a dispute is not resolved informally, it is to be decided by the competent courts of [governing jurisdiction: to be completed before launch], which have exclusive jurisdiction, subject to the next paragraph.

Consumers. If you are a consumer, nothing in this section deprives you of the protection of the mandatory provisions of the law of the country where you habitually reside, or of any right you have under that law to bring proceedings in the courts of that country. If you live in a country that provides an out-of-court dispute resolution procedure for consumers, you may also be entitled to use it.

21. General provisions and contact

Severability. If a court or competent authority finds any provision of these Terms to be invalid, unlawful or unenforceable, that provision is to be applied to the maximum extent permitted and the remaining provisions continue in full force.
Entire agreement. These Terms, together with the documents referred to in section 1, are the entire agreement between you and us about the Service and replace any earlier understanding on the same subject.
No waiver. If we do not enforce a right or a provision, or delay in doing so, that is not a waiver of the right or provision.
Assignment. You may not transfer your rights or obligations under these Terms without our written consent. We may transfer ours to an affiliate or to a successor of our business, provided this does not reduce your rights under these Terms.
No third-party rights. Except as stated in section 16, these Terms do not give rights to anyone other than you and us.
No partnership. Nothing in these Terms creates a partnership, agency, employment or fiduciary relationship between you and us.
Language. These Terms are written in English. If we provide a translation, the English version prevails in case of any difference, unless the mandatory law of your country provides otherwise.
Communications. We may contact you through the email address linked to your account or the address from which you wrote to us, and through notices on the site and on the swap page. If you make a swap without an account and do not contact us, the swap page is our only means of communicating with you.

Contact

The Service is operated by [legal entity: to be completed before launch], [registration number and address: to be completed before launch]. For questions about these Terms, support with a swap, or complaints, write to [contact email: to be completed before launch]. Please include your swap ID so that we can find your swap quickly. We will never ask you for your private keys, seed phrase or account password.