Terms of Service

1. Acceptance of Terms

These Terms of Service ("Terms") constitute a legally binding agreement between you ("User," "you," or "your") and Payward Limited and Payward Services Limited (collectively, "Kraken," "we," "us," or "our"), governing your access to and use of the Kraken UK cryptocurrency exchange platform and related services.

By creating an account, accessing our website, or using any of our services, you acknowledge that you have read, understood, and agree to be bound by these Terms, as well as our:

• Privacy Policy
• Risk Disclosure Statement
• Regulatory Information

We reserve the right to modify these Terms at any time. Material changes will be communicated via email or through our platform. Continued use of our services after such modifications constitutes acceptance of the updated Terms.

2. Eligibility Requirements

To use Kraken UK services, you must meet the following eligibility requirements:

By using our services, you represent and warrant that you meet all eligibility requirements. We reserve the right to verify your eligibility at any time and may refuse service to anyone who does not meet these requirements.

3. Description of Services

Kraken UK provides the following services through its regulated entities:

Our services are provided on an "as is" and "as available" basis. We may modify, suspend, or discontinue any aspect of our services at any time without prior notice.

4. Account Registration and Security

4.1 Account Creation

To access our trading services, you must create a Kraken account. During registration, you agree to:

• Provide accurate, current, and complete information
• Complete identity verification as required by law
• Keep your account information up to date
• Not create multiple accounts or use false identities

4.2 Account Security

You are responsible for maintaining the confidentiality of your account credentials. You agree to:

• Use strong, unique passwords
• Enable two-factor authentication (2FA)
• Not share your login credentials with others
• Immediately notify us of any unauthorized access
• Log out properly after each session

4.3 Identity Verification

In compliance with UK Anti-Money Laundering regulations, we are required to verify your identity. This may include:

• Government-issued photo identification
• Proof of address documentation
• Source of funds verification
• Ongoing enhanced due diligence as required

5. Trading and Transactions

5.1 Order Execution

When you place an order through our platform:

• Orders are executed on a best-efforts basis
• Execution depends on market conditions and liquidity
• We do not guarantee execution at any specific price
• Orders may be partially filled or rejected

5.2 Fees and Charges

Our fee structure is clearly disclosed on our platform. By using our services, you agree to pay all applicable fees, including:

• Trading fees (maker/taker fees)
• Deposit and withdrawal fees
• Network transaction fees (for cryptocurrency transfers)
• Any other fees as disclosed on our platform

5.3 Transaction Finality

Cryptocurrency transactions are generally irreversible. Once executed, trades cannot be cancelled or reversed. You acknowledge that:

• You are solely responsible for verifying transaction details before confirming
• Errors in recipient addresses may result in permanent loss of funds
• Blockchain network delays may affect transaction timing

6. Risk Disclosure

Investing in cryptoassets involves significant risks, including but not limited to:

For complete risk information, please read our full Risk Disclosure Statement.

7. Prohibited Activities

You agree not to engage in any of the following prohibited activities:

Violation of these prohibitions may result in immediate account termination, reporting to authorities, and legal action.

8. Intellectual Property

All content, trademarks, logos, and intellectual property displayed on our platform are owned by Kraken or its licensors. You agree:

• Not to copy, modify, or distribute our content without permission
• Not to use our trademarks without written authorization
• Not to remove any proprietary notices from our materials
• To respect all intellectual property rights

Your use of our platform does not grant you any ownership rights in our intellectual property.

9. Limitation of Liability

To the maximum extent permitted by applicable law:

9.1 Disclaimer of Warranties

Our services are provided "as is" without warranties of any kind, whether express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, or non-infringement.

9.2 Limitation of Damages

Kraken shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to:

• Loss of profits or anticipated profits
• Loss of data or digital assets
• Service interruptions or delays
• Actions of third parties

9.3 Maximum Liability

Our maximum aggregate liability for any claims arising from your use of our services shall not exceed the greater of: (a) the fees paid by you to us in the 12 months preceding the claim, or (b) £1,000.

Nothing in these Terms excludes or limits our liability for death or personal injury caused by our negligence, fraud, or any other liability that cannot be excluded by law.

10. Termination

10.1 Your Right to Terminate

You may close your account at any time by following the account closure procedures in your account settings. Before closure, you must:

• Withdraw all remaining balances
• Cancel all pending orders
• Ensure all transactions are complete

10.2 Our Right to Terminate

We may suspend or terminate your account at any time if:

• You breach these Terms
• We are required to by law or regulation
• We detect suspicious or fraudulent activity
• You fail to complete required verification
• We discontinue our services in your jurisdiction

10.3 Effect of Termination

Upon termination, your right to use our services ceases immediately. We will retain your data as required by law. Any funds remaining in your account will be handled according to applicable regulations.

11. Governing Law and Dispute Resolution

11.1 Governing Law

These Terms are governed by and construed in accordance with the laws of England and Wales, without regard to conflict of law principles.

11.2 Jurisdiction

Any disputes arising from these Terms or your use of our services shall be subject to the exclusive jurisdiction of the courts of England and Wales.

11.3 Complaints Procedure

If you have a complaint about our services:

1. Contact us first at [email protected]
2. We will acknowledge your complaint within 5 business days
3. We aim to resolve complaints within 8 weeks
4. If unsatisfied, you may escalate to the Financial Ombudsman Service (where applicable)

Note: The Financial Ombudsman Service may not be able to consider complaints relating to cryptoasset activities as they fall outside the ombudsman's jurisdiction.

12. Contact Information