TERMS & CONDITIONS (Self-Custodial Wallet)
Effective Date: 25 May 2025
These Terms & Conditions ("T&C") govern your access to and use of the self-custodial cryptocurrency wallet services and related features (collectively, the "Services") provided by Simple Europe UAB, a private limited company, registered in accordance with the laws of the Republic of Lithuania under registration number 305959834, with registered address at Kauno str. 32B-48, LT-03202, Vilnius, Republic of Lithuania (collectively, "Simple", "we", "us", or "our") through the Simple mobile application for iOS and Android devices (the "App").
These T&C constitute a legally binding agreement between Simple and you, the user ("you" or "User"). By downloading the App, creating an Account, or accessing or using any of our Services, you acknowledge that you have read, understood, and agree to be bound by these T&C, including our Privacy Policy, and any other policies or guidelines referenced herein.
Important Notice Regarding Your Assets: Simple provides a self-custodial wallet service utilising Multi-Party Computation (MPC) technology. This means that you alone are in control of and responsible for your cryptographic private key information and digital assets (Virtual Currency) held in your Simple wallet. Simple does not have custody or control over your assets. We cannot access, control, reverse, or cancel your transactions. You are solely responsible for the security of your wallet access credentials, including your device security and any backup methods you employ.
Simple reserves the right to amend these T&C at its sole discretion at any time. We will notify you of significant changes, which may include posting a notification within the App, on our website, or via email (if you have provided one). Your continued use of the Services after the effective date of any amendments constitutes your acceptance of the revised T&C. Please review these T&C periodically for updates.
You must be at least 18 years old or the age of legal majority in your jurisdiction to use the Services. By using the Services, you represent and warrant that you meet these eligibility requirements and have the full right, power, and authority to enter into and comply with these T&C.
1. DEFINITIONS
For the purposes of this document, the following terms have the meanings ascribed to them below:
1.1. "Account" means the user account you create within the App to access the Services.
1.2. "App" means the Simple crypto wallet mobile application available for download on supported mobile operating systems.
1.3. "Applicable Law" means any relevant laws, statutes, regulations, rules, ordinances, or court orders applicable in the jurisdiction of Simple and/or the User.
1.4. "Backup" refers to the process enabled by Simple allowing Users to create an encrypted copy of their Recovery Kit component, stored either on their personal cloud storage (e.g., iCloud, Google Drive) or saved manually as a file, for wallet recovery purposes.
1.5. "Face Check" refers to the optional biometric recovery feature provided by Simple, which utilizes facial recognition technology by processing images captured via your device's front camera. This process aims to assist in verifying your identity for wallet recovery purposes, as further detailed herein and in our Privacy Policy. Face Check is distinct from and does not utilize native operating system biometric authenticators. Use of Face Check is subject to feature availability, device camera functionality, successful prior enrollment by you, suitable environmental conditions during use, and your acceptance of the associated risks and data processing practices outlined in this T&C and the Privacy Policy.
1.6. "Fiat Currency" means government-issued currency recognised as legal tender (e.g., EUR, USD).
1.7. "Funds" means units of Virtual Currency or Fiat Currency.
1.8. "Multi-Party Computation (MPC)" refers to the cryptographic technology used by the Simple wallet. It involves creating and distributing separate components (shares) of the private key information between the User's device and Simple's secure server(s). Transactions are signed collaboratively using these shares without ever combining them to reveal the full private key in a single location. This approach eliminates the need for a traditional seed phrase, meaning the wallet is designed to be not vulnerable to the risks associated with seed phrase loss or compromise by the User.
1.9. "Private Key Share" (or "Recovery Kit") refers to the user-specific cryptographic secret material generated using the MPC protocol, essential for accessing and controlling the Self-Custodial Wallet. It is not a traditional seed phrase. Secure backup and management of this Private Key Share (or the means to regenerate/recover it, like cloud backup access) are crucial for wallet access. Loss of the Private Key Share and inability to utilize recovery mechanisms provided by Simple may result in permanent loss of access to Funds. This is part of a 2-of-2 MPC signature scheme where "Private Key Share #1" is managed by Simple, and " Private Key Share #2" resides on the User's device.
1.10. "Platform" means the technological environment provided by Simple, including the App, website, and underlying systems, enabling the provision of Services.
1.11. "Self-Custodial Wallet (SCW)" means the specific type of Virtual Currency wallet provided by Simple, based on MPC technology, where the User retains exclusive control over their private key material (managed via MPC shares) and the corresponding Funds. Simple does not hold or control the User's private keys or Funds.
1.12. "Services" refers to all features and functionalities offered by Simple via the App, including but not limited to the Self-Custodial Wallet, Native Staking, Swap, On-ramp/Off-ramp, Payment Card access, and Banking-as-a-Service (BaaS) features, as described herein.
1.13. "Third-Party Service Provider" means an independent entity, not affiliated with Simple, that provides certain functionalities accessible through the App.
1.14. "Transaction" means any transfer of Virtual Currency initiated from or received into your Self-Custodial Wallet, or any interaction with supported blockchain protocols.
1.15. "Virtual Currency" (or "Cryptocurrency") means a digital representation of value based on cryptographic protocols and typically recorded on a distributed ledger (blockchain), such as Bitcoin (BTC), Ether (ETH), etc., supported by the App.
2. THE SELF-CUSTODIAL MPC WALLET
2.1. The Simple wallet is a self-custodial wallet built using MPC technology. You are the sole custodian of your Funds. Simple acts as a technology provider, facilitating your interaction with blockchain networks, but does not hold, control, or have access to your private keys or Funds.
2.2. Instead of a traditional single private key or seed phrase, the wallet utilizes MPC. This divides the key signing authority into multiple shares. Typically, one share is managed securely on your device (protected by your device's security features like biometrics or PIN), and another share is held by Simple's secure infrastructure. Transactions require collaborative signing using these shares, thus enhancing security by eliminating a single point of failure associated with traditional private keys or seed phrases.
2.3. A key feature of the MPC approach is that you are not issued, nor do you need to manage, a traditional 12 or 24-word seed phrase (recovery phrase). This eliminates the risk associated with losing or compromising such a phrase.
2.4. You are solely responsible for:
a) Securing access to your mobile device (e.g., using strong PINs, passwords, biometrics);
b) Managing and securing your Recovery Kit/Private Key Share and any chosen Backup method (Cloud Backup password, manually saved file);
c) Understanding the risks associated with self-custody and Virtual Currency transactions;
d) Ensuring the accuracy of recipient addresses and transaction details before confirming any Transaction. Blockchain transactions are generally irreversible.
2.5. In place of a seed phrase, Simple provides recovery mechanisms:
2.5.1. Support Recovery — You may initiate a recovery process by contacting Simple support using your Account registered email address and/or device at [email protected], potentially involving identity verification steps.
2.5.2. Backup Restoration — You can restore your wallet using a previously created encrypted Backup from your cloud storage (iCloud/Google Drive) or a manually saved file, requiring successful decryption using your cloud account credentials, device biometrics, or a specific backup password.
2.5.3. Face Check Recovery — Utilizing the specific camera-based "Face Check" feature (as defined in Section 1), subject to availability, device compatibility, and your successful prior enrollment and setup as applicable. Use of Face Check Recovery is optional and distinct from other biometric methods like fingerprint scanning.
2.6. It is crucial to understand that if you lose access to your device, forget your access credentials, AND lose access to or fail to create a Backup, AND cannot successfully complete the Support Recovery or Face Check Recovery process, your Funds may be permanently lost. Simple cannot access or recover your Funds for you in such scenarios.
3. SCOPE OF SERVICES
Simple provides you with access to the following Services through the App, subject to these T&C:
3.1. Self-Custodial Cryptocurrency Wallet:
a) Create and manage your Simple Self-Custodial Wallet (SCW) based on MPC technology;
b) Securely store, send (withdraw), and receive (deposit) supported Virtual Currencies. The list of supported Virtual Currencies is available within the App and may change at Simple's discretion;
c) View your transaction history and Virtual Currency balances;
d) You acknowledge and agree that you are solely responsible for managing your SCW, initiating transactions, and ensuring the accuracy of transaction details (e.g., recipient addresses). Simple does not control your Funds or transactions.
3.2. Native Staking (DeFi Earn):
a) Where available for specific Virtual Currencies, you may choose to stake your assets directly through functionalities integrated within the App ("Native Staking" or "DeFi Earn");
b) This service facilitates your interaction with the underlying blockchain protocols or third-party DeFi protocols that enable staking;
c) Staking typically involves locking your Virtual Currency for a period to earn potential rewards according to the rules of the specific protocol;
d) You acknowledge that staking involves risks, including but not limited to potential loss of staked assets due to protocol rules (e.g., slashing), smart contract vulnerabilities, or market volatility. Simple provides the interface but does not guarantee rewards or insure against losses. Eligibility and terms for staking specific assets are determined by the underlying protocols.
3.3. Swap Service (via Third-Party):
a) The App integrates a service allowing you to exchange one supported Virtual Currency for another ("Swap");
b) This Swap service is provided by Changelly or another designated third-party provider;
c) To use the Swap service, you must agree to the terms and conditions and privacy policy of the respective Third-Party Service Provider (Changelly);
d) All Swap transactions are subject to fees charged by the Third-Party Service Provider, which will be displayed before you confirm the transaction. Exchange rates are determined by the provider based on market conditions;
e) Simple facilitates access to this service but is not a party to the Swap transaction itself. Simple is not responsible for the execution, speed, or outcome of the Swap, nor for any losses incurred. Any issues with a Swap transaction should be directed to the Third-Party Service Provider.
3.4. On-Ramp / Off-Ramp Services (via Third-Party):
a) The App integrates services allowing you to exchange Fiat Currency for Virtual Currency ("On-Ramp") and Virtual Currency for Fiat Currency ("Off-Ramp") (with the Off-Ramp services being added to the App at a later stage);
b) These services are provided by Unlimit Crypto (GateFi UAB) or another designated third-party provider;
c) Use of On-Ramp/Off-Ramp services requires you to agree to the terms and conditions and privacy policy of the respective Third-Party Service Provider (GateFi UAB). You may also need to complete their identity verification (KYC) procedures;
d) Transactions are subject to fees charged by the Third-Party Service Provider and potentially your bank or payment provider. Exchange rates are determined by the provider;
e) Simple facilitates access to these services but does not process fiat payments or execute the conversion itself. Simple is not responsible for the execution, processing times, or outcome of On-Ramp/Off-Ramp transactions, nor for any associated fees or losses. Direct inquiries regarding these transactions to the Third-Party Service Provider.
3.5. Payment Card Program (via Third-Party):
a) Eligible users may apply for and use a payment card linked to their Simple wallet balance through the App;
b) The payment card program, including card issuance, transaction processing, and account management, is provided and managed entirely by Unlimit EU Ltd. Company Information: Unlimit EU Ltd is registered in Cyprus (HE328641), with its registered office at 125 Georgiou Griva Digeni, Limassol 3101, Cyprus. It is licensed and regulated by the Central Bank of Cyprus as an Electronic Money Institution (License No. 115.1.3.7/2018);
c) To participate in the card program, you must meet Unlimit EU Ltd eligibility requirements, complete their verification procedures, and agree to their specific terms and conditions and fee schedule;
d) Simple provides an interface within the App to manage aspects of the card linkage but is not the issuer, processor, or provider of the card services. All card functionalities, liabilities, and regulatory obligations rest with Unlimit EU Ltd. Direct inquiries regarding card operations, fees, or disputes to Unlimit EU Ltd.
3.6. Banking-as-a-Service (BaaS) (via Third-Party):
a) Eligible users may be able to open and manage payment accounts (e.g., IBAN accounts) directly within the Simple App;
b) These BaaS features, including account opening, holding fiat funds, and processing payments, are provided by Unlimit EU Ltd (details in 3.5);
c) Access to BaaS features is subject to Unlimit EU Ltd's stringent KYC (Know Your Customer) and AML (Anti-Money Laundering) screening processes, eligibility criteria, and their separate terms and conditions and fee structure;
d) Simple provides the user interface for accessing these BaaS features but does not provide the underlying regulated banking or payment account services. All related functionalities, compliance, and liabilities are managed by Unlimit EU Ltd. Direct inquiries regarding BaaS accounts or transactions to Unlimit EU Ltd.
3.7. You acknowledge that the services listed in sections 3.3, 3.4, 3.5, and 3.6 rely on Third-Party Service Providers. Simple does not operate, control, endorse, monitor, or assume responsibility for these Third-Party Service Providers, their services, websites, content, security, privacy practices, or any outcome resulting from your interaction with them. Your use of these integrated third-party services is entirely at your own risk. You bear the sole and exclusive responsibility for reviewing, understanding, accepting, and complying with the respective terms, conditions, policies, fees, and charges of such Third-Party Service Providers.
4. SECURITY, BACKUP, AND RECOVERY
4.1. You are solely responsible for maintaining the security of the device(s) used to access your Simple wallet, including implementing strong passwords, PINs, or biometric security, and protecting your device from unauthorized access or malware. You are also responsible for the security of any credentials related to your recovery methods (e.g., cloud account passwords, manually saved backup files, backup passwords).
4.2. The Private Key Share material generated via MPC is essential for accessing your wallet. You MUST take precautions to ensure you do not lose access to your Private Key Share or the means to recover it. As stated previously, without a functional recovery method (Backup, Support Recovery, Face Check Recovery), loss of access to your primary device or its credentials could lead to the permanent and irreversible loss of your Funds.
4.3. Simple enables an optional feature allowing you to securely back up an encrypted component of your Recovery Kit:
a) Cloud Backup — You can choose to back up the encrypted file to your personal iCloud (iOS users) or Google Drive (Android users) account;
b) Manual Backup — You can choose to save the encrypted backup file (.json format) manually to a secure location of your choice.
4.3.1. All Backups are encrypted using a key derived from your device security or a password you set specifically for the Backup. Simple does not have access to your cloud storage or the decryption key for your Backup file. The file is unreadable without successful decryption by you during the restoration process.
4.3.2. You can manage your Backups (create, update, delete) via the App settings. The App may display the status of your cloud backup.
4.4. If you install the App on a new device and you enter the email address associated with your existing Simple wallet, the following processes may apply based on the availability of your previously used device ("old device"):
a) If Your Old Device is Available and Online:
1. You may be presented with an option within the App to add the new device to your existing wallet.
2. To authorize this, a push notification or prompt may be sent to your old device requesting you to explicitly approve or "trust" the new device.
3. Successful approval from the old device may allow you to access and use your Simple wallet on both devices concurrently or sync your wallet state.
b) If Your Old Device is Unavailable:
1. This situation will initiate a wallet recovery process to regain access on the new device.
2. Initial steps to verify your identity before restoring full access include:
3. Email Verification — Simple will send a confirmation link or verification code to the email address registered with your wallet. You must access your email and successfully interact with this confirmation to prove ownership of the email address before proceeding with further recovery steps.
4. Security Confirmation — After email verification you will be required to enter your pre-existing wallet PIN code in the App to further confirm your identity and authorize the wallet recovery.
4.4.1. Proceeding with Recovery Methods:
i. Option 1 — Restore from iCloud / Google Drive:
1. You grant the App permission to access your cloud storage to check for backups.
2. You authenticate your cloud account if necessary.
3. You are prompted for device biometrics (Face ID/Touch ID) or your specific Backup password to decrypt the backup file.
4. Upon successful decryption, the App restores your wallet access.
ii. Option 2 — Upload Backup File Manually:
1. You select the option to upload a file.
2. You use your device's file picker to select the previously saved encrypted backup file (.json).
3. You are prompted for device biometrics or your Backup password to decrypt the file.
4. Upon successful decryption, the App restores your wallet access.
iii. Option 3 — Face Check Recovery:
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- This method uses your device's front camera to capture facial images for verification against your enrollment data (you must previously be enrolled in and enabled this optional feature). Success depends heavily on factors including, but not limited to, the quality and consistency between your enrollment and verification images, the proper functioning and lack of obstruction of your device's front camera, sufficient and stable environmental lighting, absence of significant changes to your facial appearance (e.g., due to accessories, major beard changes, injury), and the inherent accuracy limitations of the camera-based facial recognition algorithms used by Simple or its service providers. This feature directly processes camera images and is functionally different from secure hardware-based systems.
iv. Option 4 — Support Recovery:
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- If Backup options fail or were not used, you may attempt recovery by contacting Simple Support ([email protected]) via the email you signed up for Simple App. Success is not guaranteed in this recovery option.
4.5. Simple attempts to provide guidance during recovery failures:
a) Cloud Login Issues — You may be prompted to log into your Apple/Google account or check permissions. A "Retry" option may be provided;
b) No Internet Connection — You will be prompted to connect to the internet and retry;
c) Backup Not Found — The App will inform you if no backup is found in the selected cloud account. It may suggest trying another account or contacting Support;
d) Corrupted/Invalid Backup File — If the file cannot be decrypted or read, the App will indicate the file is invalid. Retrying or contacting Support may be suggested;
e) Incorrect Decryption Password/Biometrics — You may be allowed a limited number of attempts to enter the correct password. After repeated failures, creating a new wallet or contacting Support might be suggested.
4.6. After successfully restoring a wallet, Simple may, for enhanced security awareness, suggest considering the creation of a new wallet and transferring your funds to it. This is optional advice, and you may choose to continue using the restored wallet.
5. PRIVATE KEY EXPORT
5.1. Simple may provide a mechanism for you to request the export of your full private key(s) derived from the MPC shares associated with your Self-Custodial Wallet.
5.2. You acknowledge and agree that initiating and completing the private key export process signifies your intention to take sole, direct, and complete control of your private keys outside the Simple MPC framework. Therefore, upon successful export of your private key(s):
a) Your Account with Simple will be immediately and permanently closed;
b) Simple will cease providing all Services associated with that wallet, including any further transaction signing assistance, security monitoring, or recovery support;
c) You become solely responsible for the security and management of the exported private key(s) and any associated Funds. Simple will have no further ability or obligation to assist you with that wallet or its assets;
d) You will not be able to import the private key(s) in question to the Simple App again.
5.3. The decision to export your private keys and terminate the Services is irreversible from Simple's perspective. Ensure you fully understand the implications and have the technical knowledge to manage private keys securely before proceeding with any export request.
6. USER OBLIGATIONS AND CONDUCT
6.1. You agree to use the Services only for lawful purposes and in accordance with these T&C and Applicable Law.
6.2. You shall maintain only one Account with Simple. Creating multiple accounts by a single user is prohibited.
6.3. You are solely responsible for maintaining the confidentiality and security of your Account access credentials, including your device PIN, password, biometric data used for App access, or any passwords or access credentials associated with your chosen Backup method (e.g., cloud account password, backup file password). Do not share these credentials with any third party.
6.4. You represent and warrant that any Fiat Currency used in connection with Third-Party On-Ramp services accessed via the App originates from legal sources and belongs to you.
6.5. You agree not to use the Services to conduct, facilitate, or promote any illegal or prohibited activities, including but not limited to:
a) Money laundering, terrorist financing, or financing of sanctioned individuals or entities.
b) Fraud, scams, or deceptive practices;
c) Transactions involving illegal goods or services;
d) Infringement of intellectual property rights, privacy rights, or other proprietary rights;
e) Gambling services where prohibited by law;
f) Spreading malware, viruses, or engaging in hacking activities;
g) Interfering with the integrity or performance of the Services or the data contained therein;
h) Any activity violating Applicable Law or the rights of any third party.
6.6. When using Third-Party Services (like On-Ramp/Off-Ramp or Card services) that require linking external accounts (e.g., bank accounts, cards), you must ensure that these external accounts are legally held in your own name.
6.7. You are responsible for monitoring your Account and Transaction history. You must immediately notify Simple Customer Support at [email protected] if you discover or suspect any unauthorized use of your Account, security breach, or suspicious activity.
6.8. You agree to provide accurate, current, and complete information as may be requested by Simple (e.g., for support, identity verification related to recovery) or by Third-Party Service Providers (for their KYC/AML processes). You agree to promptly update any information that changes.
7. FEES
7.1. Performing Virtual Currency Transactions (e.g., sending crypto, interacting with staking contracts) requires the payment of transaction fees ("Network Fees" or "Gas Fees") to the miners or validators of the respective blockchain network. These fees are not paid to or set by Simple. You are solely responsible for ensuring you have sufficient balance of the appropriate native Virtual Currency in your wallet to cover these Network Fees. Fee amounts fluctuate based on network activity.
7.2. Simple may charge fees for certain optional or premium features of the Services it provides directly. Any such applicable fees charged by Simple will be clearly disclosed to you within the App before you confirm the relevant action or subscribe to the feature.
7.3. Services provided by Third-Party Service Providers (Swap via Changelly; On-Ramp/Off-Ramp, Card, BaaS via Unlimit) are subject to their own fee schedules. These fees are determined solely by the respective Third-Party Service Provider and will be disclosed to you by them during the transaction process within the integrated service flow. Simple is not responsible for setting or collecting these third-party fees.
7.4. Simple reserves the right to introduce new fees or modify existing Simple Service Fees at its discretion. We will provide notice of any such changes, typically via the App or our website. Continued use of the Services after notice of fee changes constitutes your acceptance.
8. RISK DISCLOSURES
YOUR USE OF THE SERVICES IS AT YOUR SOLE RISK. VIRTUAL CURRENCIES ARE HIGHLY VOLATILE AND INVOLVE SIGNIFICANT RISK OF LOSS.
8.1. As the user of a self-custodial wallet, you bear the entire responsibility for securing your private key material (managed via MPC shares and recovery methods). If you lose access to your device, forget or lose your access credentials (PIN, biometrics), AND lose or cannot access your chosen Backup (cloud or manual file) or fail recovery via other methods, your Funds stored in the wallet may become permanently and irretrievably lost. Simple cannot access, control, or recover your Funds in such situations.
8.2. The value of Virtual Currencies can fluctuate dramatically and unpredictably. You may lose the entire value of your assets. Simple does not provide investment advice or guarantee any returns.
8.3. Technology Risks:
a) MPC Security — While designed to enhance security, MPC technology, like any cryptographic system, is subject to potential vulnerabilities, although Simple employs robust security measures;
b) Blockchain Risks — Transactions are recorded on public blockchains. Network congestion can cause delays and high Network Fees. Blockchain protocols may experience forks, 51% attacks, or other issues impacting transaction finality or asset security;
c) Smart Contract Risks — Using features like Native Staking involves interacting with smart contracts, which may contain bugs or vulnerabilities exploitable by malicious actors, potentially leading to loss of funds;
d) Software Risks — The App or underlying software could contain bugs or security vulnerabilities. Simple endeavours to maintain secure software but cannot guarantee perfection;
e) User Device Security — Your device may be compromised by malware, viruses, or phishing attacks, potentially leading to unauthorized access to your wallet if your device security is breached.
f) Face Check Recovery Risks — Your use of the optional camera-based Face Check recovery feature is entirely at your own risk. You acknowledge and accept risks specifically associated with this type of technology, including:
1. Higher susceptibility to failure due to variations in lighting, angle, distance, camera quality/damage, obstructions (e.g., masks, glasses), and changes in your facial appearance compared to enrollment;
2. The inherent possibility of false negatives (failing to recognize you even if it's you) and false positives (incorrectly matching someone else, although typically designed against) due to algorithmic limitations;
3. Dependence on Simple's (or its vendor's) image processing systems, which may have errors, biases, or downtime;
4. Privacy and security considerations associated with the capture, processing, and potential storage of facial biometric data derived from camera images (distinct from on-device processing), as detailed in the Privacy Policy, which you must review and consent to separately if required for enrollment. Simple is not liable for any failure, inaccuracy, delay, security incident, or inability to recover your wallet resulting from the use or malfunction of the Face Check feature, unless directly caused by Simple's proven gross negligence or willful misconduct.
8.4. Reliance on Third-Party Service Providers carries risks associated with their platforms, including operational failures, security breaches on their systems, changes in their services or fees, or regulatory issues affecting their operations. Simple is not responsible for losses caused by these third parties.
8.5. Blockchain transactions are typically irreversible. Once confirmed on the network, a transaction cannot be cancelled or reversed. You are solely responsible for ensuring the accuracy of recipient addresses and transaction amounts.
8.6. Simple does not provide any investment, financial, trading, legal, tax, or other professional advice. Any market information, charts, or other content provided through the Services is for informational purposes only. You should conduct your own research and consult with qualified professionals before making any financial decisions.
9. TAX RESPONSIBILITY
9.1. You are solely responsible for determining whether any taxes apply to the transactions you conduct using the Services or through integrated Third-Party Services.
9.2. It is your sole responsibility to report and pay any and all applicable taxes arising from your Virtual Currency activities to the appropriate tax authorities in your jurisdiction(s).
9.3. Simple does not provide tax advice and is not your tax agent. Simple will not withhold taxes on your behalf or report your transaction information to tax authorities unless explicitly required to do so by Applicable Law.
10. INTELLECTUAL PROPERTY RIGHTS
10.1. The Services, the App, the Website, and all related software, applications, text, images, graphics, data, prices, trades, charts, graphs, video, audio materials, and other content originating from Simple (collectively, the "Simple Content") are the property of Simple or its licensors.
10.2. The Simple Content is protected by copyright, trademark, patent, trade secret, and other intellectual property laws. Simple grants you a limited, non-exclusive, non-transferable, non-sublicensable license to access and use the Services and the Simple Content solely for your personal, non-commercial use in accordance with these T&C.
10.3. You agree not to copy, modify, reproduce, republish, upload, post, transmit, scrape, collect, distribute, sell, license, or create derivative works from any Simple Content without Simple's prior written consent. Unauthorized use of the Simple Content is strictly prohibited and may violate intellectual property laws, potentially resulting in civil or criminal penalties.
10.4. Trademarks, service marks, logos, interface elements, data, and other content originating from Third-Party Service Providers and displayed within the App in connection with their respective services remain the exclusive property of those third parties ("Third-Party Content"). Your license under Section 10.2 does not extend to Third-Party Content except as implicitly necessary to use the integrated Third-Party Services via the App. The inclusion of Third-Party Content within the Services does not constitute an endorsement by Simple or grant Simple ownership thereof.
11. DISCLAIMERS OF WARRANTIES
11.1. THE SERVICES ARE PROVIDED ON AN "AS-IS", "AS AVAILABLE", AND "WITH ALL FAULTS" BASIS WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED.
11.2. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, SIMPLE, ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, SUB-CONTRACTORS, AND THIRD-PARTY SERVICE PROVIDERS (COLLECTIVELY, THE "SIMPLE PARTIES") DISCLAIM ALL WARRANTIES ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT.
11.3. SIMPLE DOES NOT WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED, ERROR-FREE, SECURE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. SIMPLE DOES NOT WARRANT THE ACCURACY, COMPLETENESS, OR RELIABILITY OF ANY INFORMATION OR CONTENT PROVIDED THROUGH THE SERVICES (INCLUDING CONTENT FROM THIRD-PARTIES). SIMPLE ASSUMES NO RESPONSIBILITY WITH RESPECT TO, OR IN CONNECTION WITH, THE INTRODUCTION OF CHANGES, UPDATES, OR NEW FEATURES TO THE SERVICES OR FROM ANY MALFUNCTIONS, GLITCHES, OR FAILURES THAT MAY RESULT THEREFROM.
11.4. SIMPLE DOES NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR ANY PRODUCT OR SERVICE ADVERTISED OR OFFERED BY A THIRD-PARTY SERVICE PROVIDER (INCLUDING CHANGELLY AND UNLIMIT) ACCESSED THROUGH OR LINKED FROM THE SERVICES.
11.5. YOU AGREE AND ACKNOWLEDGE THAT YOUR USE OF THE SERVICES IS ENTIRELY, OR AT THE MAXIMUM PERMITTED BY APPLICABLE LAW, AT YOUR OWN RISK. YOU HEREBY ACKNOWLEDGE AND AGREE TO BEAR ALL RESPONSIBILITY, RISKS, DAMAGES, AND LOSS THAT MAY RESULT FROM USING THE SERVICES, INCLUDING INTERACTING WITH THIRD-PARTY SERVICE PROVIDERS. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING DISCLAIMERS, SIMPLE MAKES NO REPRESENTATIONS OR WARRANTIES WHATSOEVER REGARDING THE AVAILABILITY, ACCURACY, RELIABILITY, SECURITY, OR ERROR-FREE OPERATION OF THE CAMERA-BASED FACE CHECK RECOVERY FEATURE. THIS FEATURE IS PROVIDED "AS IS," "WITH ALL FAULTS," AND YOUR USE THEREOF IS ENTIRELY AT YOUR SOLE RISK.
12. LIMITATION OF LIABILITY
12.1. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE SIMPLE PARTIES (AS DEFINED IN SECTION 11.2), ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, OR THIRD-PARTY SERVICE PROVIDERS BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, EXEMPLARY, STATUTORY, INCIDENTAL OR CONSEQUENTIAL DAMAGE, OR ANY SIMILAR DAMAGE OR LOSS, COSTS, EXPENSES, AND PAYMENTS, EITHER IN TORT (INCLUDING NEGLIGENCE), CONTRACT, STRICT LIABILITY, OR IN ANY OTHER FORM OR THEORY OF LIABILITY, ARISING FROM, OR IN CONNECTION WITH:
A) YOUR ACCESS TO OR USE OF, OR INABILITY TO ACCESS OR USE, THE SERVICES;
B) ANY LOSS OF ACCESS TO YOUR SELF-CUSTODIAL WALLET DUE TO LOST OR COMPROMISED DEVICE ACCESS, FORGOTTEN CREDENTIALS, FAILURE TO SECURE BACKUPS, OR FAILURE OF RECOVERY MECHANISMS ATTRIBUTABLE TO YOUR ACTIONS OR INACTIONS;
C) ANY CONDUCT OR CONTENT OF ANY THIRD PARTY ON OR THROUGH THE SERVICES, INCLUDING THIRD-PARTY SERVICE PROVIDERS;
D) UNAUTHORIZED ACCESS, USE, OR ALTERATION OF YOUR ACCOUNT OR DATA, UNLESS CAUSED SOLELY BY SIMPLE'S GROSS NEGLIGENCE;
E) FAILURES, DELAYS, OR INTERRUPTIONS OF THE SERVICES, BLOCKCHAIN NETWORKS, OR THIRD-PARTY SYSTEMS;
F) BUGS, VIRUSES, TROJAN HORSES, OR SIMILAR MALWARE TRANSMITTED TO OR THROUGH THE SERVICES (UNLESS DUE TO SIMPLE'S FAILURE TO MAINTAIN REASONABLE SECURITY);
G) USER ERRORS, SUCH AS INCORRECT TRANSACTION DETAILS (WRONG ADDRESS, AMOUNT) OR MISTAKES IN USING WALLET FEATURES;
H) LOSSES ARISING FROM MARKET VOLATILITY OR THE INHERENT RISKS OF VIRTUAL CURRENCIES OR STAKING/DEFI PROTOCOLS;
I) ANY ACTION TAKEN (OR NOT TAKEN) BASED ON INFORMATION PROVIDED VIA THE SERVICES;
J) ISSUES ARISING AFTER YOU HAVE EXPORTED YOUR PRIVATE KEYS.
12.2. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE TOTAL AGGREGATE LIABILITY OF SIMPLE AND ITS AFFILIATES FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THESE T&C OR THE SERVICES, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR OTHERWISE, SHALL NOT EXCEED THE GREATER OF (A) THE TOTAL FEES PAID BY YOU TO SIMPLE (EXCLUDING NETWORK FEES AND THIRD-PARTY FEES) DURING THE SIX (6) MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM, OR (B) ONE HUNDRED EUROS (EUR €100.00).
12.3. THIS LIMITATION OF LIABILITY SECTION APPLIES REGARDLESS OF THE LEGAL THEORY UPON WHICH THE CLAIM IS BASED, EVEN IF SIMPLE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
13. INDEMNIFICATION
You agree to defend, indemnify, and hold harmless Simple, its affiliates, officers, directors, employees, agents, and third-party service providers from and against any and all claims, damages, obligations, losses, liabilities, costs, debts, and expenses (including but not limited to attorney's fees) arising from:
a) Your use of and access to the Services;
b) Your violation of any term of these T&C;
c) Your violation of any Applicable Law, rule, or regulation, or the rights of any third party (including intellectual property or privacy rights);
d) Your interaction with any Third-Party Service Provider facilitated through the App;
e) Your failure to properly secure your Account access, Recovery Kit/Private Key Share, or Backup methods; or
f) Any other party's access and use of the Services with your unique username, password, or other appropriate security code (if such access was not due to Simple's fault).
14. TERM AND TERMINATION
14.1. These T&C commence on the date you first access or use the Services and continue until terminated by either you or Simple.
14.2. You may terminate this agreement at any time by transferring all Funds out of your Self-Custodial Wallet and ceasing all use of the App and Services. Only uninstalling the App does not terminate this agreement or guarantee the security of your means of access if retained elsewhere (e.g., Backups). If you require confirmation or wish to ensure associated server-side components (like the MPC share held by Simple) are deactivated after emptying your wallet, please contact Customer Support at [email protected]. You acknowledge that as this is a self-custodial wallet, you are solely responsible for securing and transferring your Funds prior to ceasing use; Simple cannot access or transfer your Funds for you.
14.3. Simple reserves the right to suspend or terminate your access to the Services (which includes disabling functionalities reliant on Simple's servers, such as MPC transaction signing, support, and third-party integrations via the App), or deactivate your Account, immediately and without prior notice, at our sole discretion, if:
a) You breach any provision of these T&C;
b) We reasonably suspect you of engaging in fraud, money laundering, terrorist financing, or any other illegal or prohibited activity;
c) We are required to do so by Applicable Law, regulation, or order from a competent governmental authority;
d) We reasonably believe your Account security has been compromised or is being used by an unauthorized person;
e) You provide false, misleading, or incomplete information;
f) Your use of the Services poses a security risk to Simple, other users, or the public, or disrupts the operation of the Services;
g) You initiate the Private Key Export process as described in Section 5.
14.4. Upon termination of this agreement for any reason:
a) Your license to use the App and Services ceases immediately;
b) Functionalities provided via the Simple App that rely on Simple's infrastructure (including MPC signing collaboration and integrated third-party services) will no longer be available for the terminated wallet;
c) Crucially, termination by Simple does not affect your ownership of the Funds held in your Self-Custodial Wallet on the blockchain. However, your ability to access and transact with those Funds using the Simple App interface will be terminated. You will need to rely on your secured Backup (if created) or other means compatible with your Recovery Kit/Private Key Share (or exported private keys, if applicable) to manage your Funds independently of Simple. Simple will have no further obligation or ability to assist with transactions or recovery for the terminated wallet;
d) Any provisions of these T&C that by their nature should survive termination will remain in effect (including, but not limited to, Sections 8, 9, 10, 11, 12, 13, 16, and 17).
15. AMENDMENTS TO THESE T&C
Simple reserves the right to modify or amend these T&C at any time in its sole discretion. We will provide notice of significant changes, which may include posting the revised T&C on our website, providing notice through the App, or sending an email to the address associated with your Account (if provided). The "Last Updated" date at the bottom of these T&C indicates the latest revision. Your continued use of the Services after the effective date of any amendments constitutes your acceptance of the revised T&C. You are responsible for reviewing these T&C periodically for updates.
16. GOVERNING LAW AND DISPUTE RESOLUTION
16.1. These T&C and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of Lithuania, without regard to its conflict of law provisions.
16.2. You and Simple agree to attempt to resolve any dispute arising out of or relating to these T&C or the Services amicably through informal negotiation first. Please contact Simple Customer Support at [email protected] to initiate this process.
16.3. If the dispute cannot be resolved through the informal negotiation process described in Section 16.2 within thirty (30) calendar days from the date such process was initiated, any dispute, controversy, or claim arising out of or relating to these T&C, or the breach, termination, or invalidity thereof, shall be finally and exclusively settled by binding arbitration. The arbitration shall be seated in Vilnius, Republic of Lithuania. The arbitration shall be conducted by a sole arbitrator appointed in accordance with the Arbitration Rules of the Vilnius Court of Commercial Arbitration (VCCA), which Rules are deemed to be incorporated by reference into this clause. The language to be used in the arbitral proceedings shall be English. The arbitral award shall be final and binding on the parties. Judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction thereof or application may be made to such court for judicial acceptance of the award and an order of enforcement, as the case may be. The costs of the arbitration, including the arbitrator’s fees, administrative fees of the arbitral institution, and the reasonable attorneys' fees and expenses incurred by the prevailing party in connection with the arbitration, shall be borne by the non-prevailing party (losing party), unless the arbitrator determines otherwise based on the circumstances of the case. The arbitrator shall have the authority to determine the allocation of costs in the final award.
17. MISCELLANEOUS
17.1. These T&C, together with the Privacy Policy and any other documents expressly incorporated by reference, constitute the entire agreement between you and Simple regarding your use of the Services and supersede all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, regarding the Services.
17.2. You may not assign or transfer any of your rights or obligations under these T&C without Simple's prior written consent. Simple reserves the right to assign or transfer its rights and obligations under these T&C (in whole or in part) without your consent or notice, including in connection with a merger, acquisition, consolidation, reorganization, or sale of all or substantially all of its assets, provided that the assignee agrees to be bound by these T&C.
17.3. If any provision of these T&C is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be modified to the minimum extent necessary to make it valid, legal, and enforceable, or if modification is not possible, it shall be severed from these T&C. The validity, legality, and enforceability of the remaining provisions shall not be affected or impaired.
17.4. Simple's failure or delay in exercising any right, power, or privilege under these T&C shall not operate as a waiver thereof, nor shall any single or partial exercise preclude any other or further exercise thereof or the exercise of any other right, power, or privilege.
17.5. Simple shall not be liable for any delays, failure in performance, or interruption of service which result directly or indirectly from any cause or condition beyond its reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, pandemic, other catastrophe or any other occurrence which is beyond Simple's reasonable control ("Force Majeure Event").
17.6. Simple operates as a provider of self-custodial wallet technology. Simple is committed to cooperating with competent governmental authorities as required by applicable law. Upon receipt of a valid and legally binding request (such as a court order, subpoena, or equivalent legal process) from a competent authority with jurisdiction, Simple will provide information within its possession and control, subject to the limitations outlined in our Privacy Policy.
17.7. These T&C may be translated into other languages for convenience. In the event of any conflict or inconsistency between the English version and any translated version, the English language version shall prevail.
17.8. Section headings in these T&C are for convenience only and shall not govern the meaning or interpretation of any provision.
17.9. Any notices or other communications permitted or required hereunder will be in writing and given by Simple via email (if you have provided one), posting within the App, or posting on our website. Notices to Simple should be directed to Customer Support at [email protected].
17.10. If you have any questions, comments, or complaints regarding these T&C or the Services, please contact Simple Legal Department at [email protected].
IMPORTANT NOTICE REGARDING APPLICABLE TERMS AND SERVICE MODULES
Please be advised that the Simple App offers access to two distinct service modules for managing digital assets, each operating under different principles and governed by separate legal terms:
- Custodial Wallet Service ("Custodial Module") — This is the standard module where Simple acts as a custodian, securely managing cryptographic private keys on your behalf according to the applicable terms referenced below. Users are typically onboarded to this module by default.
- Self-Custodial Wallet Service ("SCW Module") — This is an optional module utilizing Multi-Party Computation (MPC) technology. When using the SCW Module, you retain exclusive control over your cryptographic key material and the corresponding digital assets, subject to the specific terms governing this module.
Your use of the Simple App may involve one or both of these modules, depending on whether or not you activate SCW Module. It is essential to understand which set of terms and conditions applies to your activities within each module. Your interaction with the Custodial Module is governed by the Terms and Conditions for Custodial Wallet, while your use of the optional SCW Module is governed by the Terms and Conditions for Self-Custodial Wallet.
Regarding your privacy and the processing of personal data, the policy applicable to you depends on the Simple App modules you use. If you use only the Custodial Module of the App, your processing of personal data is governed by our Privacy Policy for Custodial Wallet. Should you choose to activate and use the optional SCW Module, you will be required to review and separately agree to the Privacy Policy for Self-Custodial Wallet.
By creating a Simple account, downloading or using the App, enabling or using specific modules (including the optional SCW Module), or by agreeing to the terms when presented, you acknowledge you have read, understood, and agree to be bound by the Terms and Conditions applicable to the modules you use, and you acknowledge the data processing practices described in the applicable Privacy Policy. We strongly encourage you to review all four documents carefully using the links provided herein to fully understand your rights, obligations, and data processing details relevant to your chosen method(s) of using the Simple App.
