Terms Of Service





INTRODUCTION

THESE TERMS OF SERVICE APPLY TO THE USE OF THE MASTERCLOUDMINER CLOUD MINING SERVICE AND MASTERCLOUDMINER WEBSITE LOCATED AT MASTERCLOUDMINER AND ITS SUBDOMAINS. THE WEBSITE AND THE SERVICE ARE THE PROPERTY OF MASTERCLOUDMINER Ltd.

THEY SET OUT HOW THE MASTERCLOUDMINER CLOUD HOSTED CRYPTOCURRENCY MINING SERVICE WORKS AND DESCRIBE ANY ASSOCIATED RIGHTS AND RESPONSIBILITIES. THE MASTERCLOUDMINER TERMS OF SERVICE AND ANY INSTRUCTIONS, GUIDANCE AND SIMILAR INFORMATION FOUND ON THE WEBSITE (FROM TIME TO TIME) ALSO APPLY TO HOW YOU USE THE MASTERCLOUDMINER CLOUD MINING SERVICE (TOGETHER THE "AGREEMENT"). BY USING THE WEBSITE AND/OR THE SERVICE, YOU AGREE TO THESE TERMS OF SERVICE; IF YOU DO NOT AGREE, DO NOT USE THE SITE AND/OR THE SERVICE.

MASTERCLOUDMINER RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO AMEND, CHANGE, MODIFY, ADD OR REMOVE PORTIONS OF THESE TERMS OF SERVICE, AT ANY TIME. IT IS YOUR RESPONSIBILITY TO CHECK THESE TERMS PERIODICALLY FOR CHANGES. THE CURRENT VERSION OF THESE TERMS IS AVAILABLE AT HTTPS://MASTERCLOUDMINER.COM/TERMS. YOUR CONTINUED USE OF THE WEBSITE AND/OR THE SERVICE FOLLOWING THE PUBLISHED UPDATES TO THE TERMS WILL MEAN THAT YOU ACCEPT AND AGREE TO THE CHANGES. AS LONG AS YOU AGREE AND COMPLY WITH THESE TERMS, MASTERCLOUDMINER GRANTS YOU A PERSONAL, NON-EXCLUSIVE, NON-TRANSFERABLE, LIMITED PRIVILEGE TO ENTER AND USE THE WEBSITE AND THE SERVICE.

MASTERCLOUDMINER PROVIDES TECHNICAL SUPPORT, DEVELOPMENT, AND MARKETING OF MASTERCLOUDMINER AND ITS SUBDOMAINS.

ABOUT THE SERVICE, THE WEBSITE AND THESE TERMS OF SERVICE

1.1. This is an agreement (referred to as "Terms") between MASTERCLOUDMINER LP(also referred to in these Terms as "MASTERCLOUDMINER", "MASTERCLOUDMINER", "we", "us" or "our") and you (also referred to in these Terms as "Customer", "you", "your"), the person accessing and using the MASTERCLOUDMINER cloud mining service and accepting these Terms.

1.2. In these Terms:

1.2.1. A reference to "Cryptocurrency", "Cryptocurrencies" is a reference to the distributed, decentralized peer-to-peer digital currencies:

1.2.1.1. "Bitcoins" is a reference to a Cryptocurrency known as Bitcoin;

1.2.1.2. "Altcoins" is a reference to all Cryptocurrencies other than Bitcoin, such as Litecoin;

1.2.2. "Miners" are individuals who register to mine Bitcoins and/or Altcoins with a Cloud Machine. If you successfully apply to administer a Cloud Machine, you will be a Miner;

1.2.3. A "Mining Pool" is an organized association of Cryptocurrencies miners. The members of these associations work together to mine Cryptocurrencies and those Cryptocurrencies are distributed amongst the membership based on the contribution made to the mining by each member;

1.2.4. The "Mining Hardware" is the computer hardware owned by MASTERCLOUDMINER that is used to provide the Service and to mine Cryptocurrencies;

1.2.5. "Hashrate" or "Hash rate" is the mining power of the Mining Hardware used to mine Cryptocurrencies. Hashrate is mining algorithm specific (SHA-256, Scrypt, X11 etc);

1.2.6. "Cloud Machine" is the processing power of the Service purchased by a Miner and administered by a Miner using the Website;

1.2.7. "Service" is MASTERCLOUDMINER’s cloud-hosted mining service, which enables individuals to remotely mine Cryptocurrencies for themselves using our Mining Hardware and the Website;

1.2.8. The "Support" or "Customer Support" or "Helpdesk" is the technical support service of MASTERCLOUDMINER that is provided via email/ticket system, available in the MASTERCLOUDMINER knowledge base/FAQ at http://mastercloudminer.com/faq where Customers can find answers to general questions and request assistance by submitting a request;

1.2.9. The "Panel" or "dashboard" is the graphical user interface of the Service, with which the Miner interacts to perform all actions related to the Service;

1.2.10. The "Website" is MASTERCLOUDMINER.COM and any apps, software, emails or other websites which we use to provide the services of MASTERCLOUDMINER (which includes the Service);

1.2.11. A "Payout" is the periodic deposit to your Balance, dependent on your Cloud hashpower. MASTERCLOUDMINER may change the periodicity of Payouts at any time, to a maximum of once per 24 hours;

1.2.12. "Fees" are maintenance and electricity fees, charged daily from the Balance;

1.2.13. "Account" is your personal access to the Service, described further in section 6;

1.2.14. "Balance" is your personal Account balance;

1.2.15. A "Contract" is the access to a Cloud Machine of specific Hash rate;

1.2.16. A "Contract Term" is the period for which a Miner has agreed to pay to administer a Cloud Machine, by default, MASTERCLOUDMINER provides Contracts that have an expiry date with a lifetime panel.

1.2.17. "Hold" is the state an Account can be placed in that prevents the said Account to make any withdrawals, used as a security measure;

1.2.18. A "Pre-order" is a Contract with a start date in the future. Start date is estimated and is subject to change;

1.2.19. The "Referral Program" or "Partner Program" is the functionality that allows a Customer to receive financial rewards for Contracts purchased by other Customers;

1.2.20. A "Referral Code" is an alphanumerical sequence (at least 6 characters long) that is linked to a Customer’s Account;

1.2.21. A "Referral Link" is the URL with a Referral Code, that allows a new Customer to register with MASTERCLOUDMINER;

1.2.22. A "Referral" is a Customer who registered by using another Customer’s Referral Link;

1.2.23. A "Referrer" is a Customer who had another Customer register using their Referral Link;

1.2.24. A "Referral Purchase" or "Referred Purchase" is a purchase made by a Referral;

1.2.25. A "Referral Bonus" is the reward a Referrer receives for a Referral Purchase;

1.2.26. An "Affiliate Network" is a third-party website that allows any person (with or without a MASTERCLOUDMINER Account) to receive financial rewards for MASTERCLOUDMINER Contracts purchased by referred Customers.

1.3. These Terms apply to any mining you undertake by using the Service and Website, and they form a legal agreement between you and MASTERCLOUDMINER on the acceptance of your application for an Account (as set out below).

1.4. If there is ever a conflict between these terms of service and the MASTERCLOUDMINER terms of use or the instructions, guidance and similar information found on the Website, these terms of service will take priority.

1.5. IT IS NOT POSSIBLE FOR US TO STATE DEFINITIVELY HOW MANY BITCOINS, AND/OR ANY OTHER CRYPTOCURRENCY UNITS WILL BE MINED BY ANY MINER AND/OR SPECIFIC CLOUD MACHINE.

1.6. By applying to register as a Miner you are confirming that you understand and accept (and are able to understand and accept) these terms of service and that you agree that you will be bound by them. You should regularly check the Website
for changes to the terms of service, instructions, guidance and similar information found on the Website.

1.7. You may only apply to register as a Miner if:

1.7.1. You are 18 years old or over; and

1.7.2. It is lawful for you to do so.

1.8. To register as a Miner, we may require you to provide us with identification or other documentation in order to help us prevent fraud or money laundering. This may include photographic identification and a recent proof of address. We may also undertake our own identity, fraud and credit checks.

1.9. It is forbidden for Miners to visit the Website or use the Service through anonymous proxies (such as Tor) and other services or technologies that hide the real internet connection of the user.

RISK NOTICE

2.1. Actions with Cryptocurrencies carry inherent risks. Due to the fact that Cryptocurrencies are unregulated and decentralized, their value is not insured by any legal entities. The value of any Contract, any amount of any Cryptocurrency is subject to change by MASTERCLOUDMINER due to a number of factors out of MASTERCLOUDMINER's control. These factors include but are not limited to changes of mining difficulty and/or other mining parameters/properties, fluctuating price (in fiat currency to Cryptocurrency exchange rate, such as USD/BTC) of Cryptocurrencies, obsolescence of hardware and amortization of hardware. You understand and agree that the worth of any Contact and any amount of mined Cryptocurrency may lose all worth at any moment of time due to the nature of Cryptocurrencies. You understand that you are solely responsible for management of the Cryptocurrencies in your balance as well as any losses or charges incurred by any third-party entity.

2.2. Any information related to Cryptocurrency and Cryptocurrency mining that is/was posted, published and/or provided by MASTERCLOUDMINER via any channel of communication (including but not limited to: on the Website, in the Panel, via the Support Service, via Email newsletter, in social media) is subject to change.

CRYPTOCURRENCIES

3.1. You must not mine, buy, sell, exchange, hold, own or otherwise use or exploit Cryptocurrencies in any way which is prohibited by the laws or regulations which apply to you.

3.2. Cryptocurrencies may not be appropriate for everyone. Before mining any Cryptocurrencies you should learn about them to ensure that they are appropriate for you. Like all currencies, there are disadvantages to using Cryptocurrencies. Some risks particular to Cryptocurrencies include:

3.2.1. Currency fluctuation — the price of Bitcoin and/or any other Cryptocurrency may fall sharply and may even fall to zero;

3.2.2. Transactions with Cryptocurrencies may be unconfirmed for a period. Although very unlikely, some Cryptocurrency transactions may never be confirmed — Cryptocurrency transactions which are unconfirmed are not completed;

3.2.3. Transactions with Cryptocurrencies are irreversible — if you send any amount of any Cryptocurrency to the wrong person, you may be unable to recover those funds;

3.2.4. Cryptocurrencies may be lost if you lose or forget any PINs or passwords necessary to access and spend those Cryptocurrencies;

3.2.5. Unknown technical defects inherent in Cryptocurrencies; and

3.2.6. The new regulation which impacts the use of Cryptocurrencies.

3.3. By agreeing to these terms of service or by mining Cryptocurrencies by using the Service, you are indicating that you understand, are capable of understanding and accept the risks associated with Cryptocurrencies.

REGISTRATION

4.1. By applying to register, you are making an offer to enter an agreement on these terms of service. Once submitted, you may not withdraw your offer.

4.2. Only we can decide whether applications will be accepted. If your application is accepted, a legal and enforceable agreement will be entered between you and us. Subject to any statutory rights you may have, you may not cancel the agreement covered by these terms of service and you will not be eligible for any refund, exclude section x.

CONTRACT TERM AND MINING TERM

5.1. These Terms of Service are valid indefinitely, even after Account termination.

5.2. The Contract Term for MASTERCLOUDMINER Cloud Machines is limited by default. The Contract is valid while profitable until expired or until terminated (refer to section 13), whichever comes first.

5.3. Contracts with a stated expiry date will end on the date of expiry and the Cloud Machine is stopped.

5.4. Pre-order Contracts that are not activated immediately on purchase will activate on the stated date.

5.5. The Mining process continues until said mining is profitable. This means the Mining process will stop if the Maintenance and Electricity Fees will become larger than the Payout. If mining remains unprofitable for 21 consecutive days the Service is permanently terminated (Hashrate type specific). During the consecutive 21 day period, Payouts and Fees will also be temporarily stopped. If during the suspension period, the Contract-related mining factors (such as the exchange rate and mining difficulty) that are outside of MASTERCLOUDMINER’s control will change favorably, making mining profitable again, the Service will be unsuspended and contracts reactivated.

5.6. MASTERCLOUDMINER reserves the right to change the launch date, Contract Term and/or Mining Term of any Contract.

ACCOUNT

6.1. To register you will need to submit some personal information, a valid email address (that will be used as Username and for user identification) for your Website account ("Account"), a password ("Password"). Are required to select your country of residence for the appropriate VAT calculation. To be able to withdraw funds you will need to enter at least one wallet for the Cryptocurrency you are mining. The Account may allow you to add more than one Cryptocurrency wallet.

6.2. You must ensure that all information about you that is held by us is true, complete, not misleading and up to date.

6.3. The Username and Password will be allocated to you if you successfully apply for registration as a Miner.

6.4. You will need your Username and Password to access some parts of the Website. Your Username and Password are personal to you and must not be disclosed to any other person.

6.5. The number of accounts is limited to 1 for each beneficiary. Any client or person can have only one account per IP/Family/Payment account. In the event of multiple registrations, we have rights to suspend all of your accounts.

6.6. When you register, you may submit an order to administer a Cloud Machine. This order will allow you to specify the processing power of the Cloud Machine. Only MASTERCLOUDMINER can decide whether orders will be successful and acceptance is subject to availability, amongst other things.

6.7. Your order is a request to acquire a Contract from us and does not represent a formed contract. If we accept your order, we will associate your Contract with your Account. Until then, an order is considered pending and MASTERCLOUDMINER reserves the right to decline your payment.

6.8. Confirmation of your order will be made by email, which will also contain an estimated commencement date for the Contract. The confirmed commencement date of the Contract will be notified to you in a subsequent email. We cannot say how long it will take to confirm the commencement date of the Contract.

6.9. Subject to the payment of any fees which may be applied, Miners will be able to receive Cryptocurrencies on the basis of the processing power of the Cloud Machine and the period of time for which the Cloud Machine is mining. Miners will only be able to administer the Cloud Machine during the Contract Term. Those Cryptocurrencies will be transferred to your wallet upon your request if such request is confirmed.

6.10. If you lose access to your Account, MASTERCLOUDMINER may ask you to provide certain types of data, including personally identifiable information, to determine ownership of the Account. This may include but is not limited to: proof of identity; proof of residence; proof of telephone number/email ownership and any identifiable activity on the Website, such as transaction IDs, order numbers, withdrawal amounts, and others.

USE OF YOUR ACCOUNT

7.1. You may only mine Cryptocurrencies for your own benefit. By using the Website and/or the Service you confirm that you are not acting for the benefit of any other person or entity.

7.2. We are entitled to assume that any use of your Account is made by you. You are solely responsible and liable for any use of the Website or the Service under your Account or any other use of your Username and Password.

7.3. You may only hold one Account. If you forget your Username or Password, you can use the password recovery option or contact Support.

7.4. DO NOT SHARE YOUR PASSWORD WITH ANY OTHER PERSON OR ALLOW ANY OTHER PERSON TO USE YOUR ACCOUNT. WE ARE NOT LIABLE FOR ANY IMPROPER USE OF YOUR PASSWORD OR ACCOUNT BY YOU OR ANY OTHER PERSON. IF YOU HAVE REASONS TO ASSUME THAT ANY OTHER PERSON KNOWS YOUR PASSWORD, OR THAT YOUR ACCOUNT HAS BEEN USED BY ANY OTHER PERSON, YOU MUST INFORM US IMMEDIATELY.

7.5. If you do not log into your Account for 12 months, we may terminate the Account. You will be, if possible, notified in advance. If we are unable to contact you, or you do not take any action to prevent account termination, your Balance will be nullified.

RESTRICTIONS AND OBLIGATIONS

8.1. You agree to comply with all applicable laws and regulations, these terms of service and all rules applicable to the use of the Website and the Service.

8.2. You agree not to falsely describe or otherwise misrepresent yourself in any dealings with MASTERCLOUDMINER.

8.3. You are not allowed to abuse any campaigns, discounts, referral bonuses and/or referral systems, provided from time to time by MASTERCLOUDMINER and/or its partners.

8.4. You are not allowed to use any means to mask your internet traffic and IP address (such as Proxy, Tor, VPN, and others).

8.5. Multi-Level Marketing (MLM) and/or High-Yield Investment Projects (HYIP) systems are forbidden from providing any services to their users or partners based on MASTERCLOUDMINER, including but not limited to MASTERCLOUDMINER Products and/or Services.

8.6. You are strictly forbidden to use or exploit errors in design of the Website, the Service and/or all and any of their parts, features which have not been documented, and/or "program bugs" for commercial/personal gain or as means to disrupt and/or destabilize the Service and/or the Website. If you encounter such an error by accident, you are required to report your findings to support@mastercloudminer.com.

ADMINISTRATION OF MINING

9.1. During the Contract Term, you can use the Website to:

9.1.1. Amend or update your registration and contact details;

9.1.2. With the help of customer support deactivate or reactivate your Account as well as terminate an active Contract;

9.1.3. With the help of customer support change the login email address;

9.1.4. Change some parameters of the mining of your Cloud Machine; and

9.1.5. Change your cryptocurrency-specific wallet addresses.

9.2. Subject to payment and additional Fees in advance, you can use the Website to:

9.2.1. Add a new Cloud Machine; and

9.2.2. Increase the processing power of your Cloud Machine.

POLICIES

We are in harmony with the EU Banking Policies (EKP) and operate in line with the policies of this union.

AML / KYC policy

10.1. Master Cloud Miner adheres to the international policy in the field of combating terrorism and money-laundering.

10.1.2. Customer agrees not to use the access to the service for any illegal (non-legal) activities. In case of violation of the requirements of the service, service has the right to block the username and / or carried out operation,until the final decision by the court and / or other public authority with respect to the activities of the Customer and the funds from client account.

10.2.Customer warrants that his work on the Internet is not contrary to the universally recognized principles and norms of morality.
Terms of Service Updates
All updates to these terms of service will be posted here. Last update: Dec 2018.
Master Cloud Miner Ltd.


Offices:

Sweden Office: Klarabergsviadukten, 111 64 Stockholm, Sweden
Phone: +46xxx711401 (vip only)
UK Office Phone: +44xxx02227 (vip only)
Company Reg no: 11792769
Email: Contact@mastercloudminer.com
Support: support@mastercloudminer.com