Terms and Conditions
October 23, 2023
BEFORE YOU START: BUYING AND SELLING CRYPTO ASSETS IS INHERENTLY RISKY
CRYPTO ASSETS ARE NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC), THE SECURITIES INVESTOR PROTECTION CORPORATION (SIPC) OR ANY OTHER PUBLIC OR PRIVATE INSURER, INCLUDING AGAINST CYBER THEFT OR THEFT BY OTHER MEANS. CRYPTOCURRENCY ACTIVITY IS NOT A REGULATED ACTIVITY IN MANY U.S. STATES AND TERRITORIES. THE VALUE OF CRYPTO ASSETS CAN BE EXTREMELY VOLATILE AND UNPREDICTABLE, WHICH CAN RESULT IN SIGNIFICANT LOSSES IN A SHORT TIME, INCLUDING POSSIBLY A LOSS OF TOTAL VALUE. THE PRICE AND LIQUIDITY OF CRYPTO ASSETS HAS BEEN SUBJECT TO LARGE FLUCTUATIONS IN THE PAST AND MAY BE SUBJECT TO LARGE FLUCTUATIONS IN THE FUTURE. BUYING AND SELLING CRYPTO ASSETS IS INHERENTLY RISKY, AND YOU SHOULD CONSIDER THE RISKS BEFORE DECIDING TO BUY OR SELL CRYPTO ASSETS, INCLUDING THOSE PROVIDED IN OUR RISK DISCLOSURES AND STATE DISCLOSURES SECTIONS BELOW.
IF YOU HAVE QUESTIONS OR CONCERNS REGARDING YOUR CRYPTOCURRENCIES HUB, YOUR CRYPTO ASSETS, OUR SERVICE PROVIDER(S), OR RELATED TRANSACTIONS OR ACCOUNT ACTIVITY, PLEASE CONTACT VENMO CUSTOMER SERVICE OR CALL: (855) 812-4430. YOU CAN ALSO WRITE TO: PAYPAL, ATTN: VENMO CRYPTOCURRENCY SUPPORT, P.O. BOX 45950, OMAHA, NE 68145-0950.
These terms and conditions ("Cryptocurrency Terms") are between you and PayPal, Inc. and govern your use of the portion of your Venmo account (your "Venmo Account") where you can buy, sell, hold, receive, send, and learn about cryptocurrency (your "Cryptocurrencies Hub") and the services available in your Cryptocurrencies Hub.
You must be an individual and resident of the United States or one of its territories and at least 18 years old, or the age of majority in your state or territory of residence, to access the Cryptocurrencies Hub within your Venmo Account and use the related services. If you are a Hawaii resident, you are not permitted to access the Cryptocurrencies Hub at this time.
By accessing and using the Cryptocurrencies Hub, you agree to comply with all aspects of these Cryptocurrency Terms. Your Cryptocurrencies Hub is subject to the Agreement to Arbitrate on an individual basis that governs your entire Venmo account relationship. You also agree to comply with the following additional policies:
Venmo User Agreement
Acceptable Use Policy
Electronic Communications Delivery Policy (E-Sign Disclosure and Consent)
We may revise these Cryptocurrency Terms and any of the agreements and policies listed above from time to time. The revised version will be effective at the time we post it, unless otherwise noted. If our changes to these Cryptocurrency Terms reduce your rights or increase your responsibilities, we will provide you at least 21 days' advance notice, or such longer period as required by law. By continuing to use our services, including by holding Crypto Assets (as defined below), after any change to these Cryptocurrency Terms, you agree to abide and be bound by those changes. If you do not agree with any changes to these Cryptocurrency Terms, you must sell or transfer your Crypto Assets and stop accessing your Cryptocurrencies Hub. If there is a hold on your account you may be able to sell, but not transfer, your Crypto Assets. Please note that there may be tax consequences when you sell and, in certain situations, when you transfer, your Crypto Assets.
Establishing Your Cryptocurrencies Hub
If you establish and access the Cryptocurrencies Hub, you will be able to hold a Crypto Asset balance and, buy, sell, receive and send Crypto Assets, among other benefits. Any balance in your Cryptocurrencies Hub represents your ownership of the amount of each Crypto Asset shown. You will not hold the digital Crypto Assets themselves in your Crypto Asset balance. Some custody, trading and transfer services for Crypto Assets are performed for us by Paxos Trust Company, LLC, ("Paxos") or other appropriately licensed or otherwise authorized service provider (each, including Paxos, a "Service Provider"). Your use of the Cryptocurrencies Hub may depend on you having a personal Venmo account in good standing and us verifying the required identifying information you provide to us. You can only use your Cryptocurrencies Hub by accessing it through your personal Venmo account. If you are a Hawaii resident, we will not allow you to establish a Cryptocurrencies Hub at this time. We will automatically link your Cryptocurrencies Hub to your personal Venmo account. Your login credentials for your personal Venmo account act as the credentials to access your Cryptocurrencies Hub.
Before you are able to first access your Cryptocurrencies Hub, we must verify or have previously verified the required identifying information that you provide to us. The required identifying information is: name, physical address, date of birth and taxpayer identification number. We may require additional information from you from time to time in order to verify the required identifying information, such as a copy of your government issued photo ID or evidence of your residency, like a utility bill. For some uses of your Cryptocurrencies Hub we may request that you provide a picture of your face or other biometric information for identity verification purposes. An alternative to providing biometric information to verify your identity will be made available.
You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers, or any other codes that you use to access your Cryptocurrencies Hub and the Venmo services. You agree to keep your phone number, email address and other personal information current in your Venmo profile.
Closing Your Cryptocurrencies Hub
You must close your Venmo account in order to close your Cryptocurrencies Hub. Closing your personal Venmo account will automatically close your Cryptocurrencies Hub. You can view more information about what happens if Venmo closes your Cryptocurrencies Hub here.Please note that there may be tax consequences from any gain or loss you incur when you sell your Crypto Assets, when you transfer Crypto Assets in exchange for goods or services, or from the receipt of new cryptocurrency through an airdrop following a fork (as defined below) that we support. You can terminate your relationship with us at any time without cost, but you will remain liable for all obligations related to your Cryptocurrencies Hub and personal Venmo account even after those accounts are closed. You must sell or transfer any Crypto Assets in your Cryptocurrencies Hub before closing your Venmo account and Cryptocurrencies Hub.
Available Features of the Cryptocurrencies Hub
As described in more detail below, here are some things you can do with the Cryptocurrencies Hub:
• Buy Crypto Assets;
• Hold Crypto Assets;
• Sell Crypto Assets;
• Send Crypto Assets;
• Receive Crypto Assets; and
• View market information and educational content. Some or all features of the Cryptocurrencies Hub may not be available in some U.S. locations.
Supported Crypto Assets
The term "Crypto Assets" means the particular digital assets that we support and that you may buy, sell, and hold using your Cryptocurrencies Hub. The list of Crypto Assets we support at any given time can be found in your Cryptocurrencies Hub. You cannot use your Cryptocurrencies Hub to hold any digital assets other than the supported Crypto Assets.You should not attempt to use your Cryptocurrencies Hub to hold, receive or request any digital assets other than the Crypto Assets we support. If you attempt to receive or hold digital assets in your Cryptocurrencies Hub that we do not support, or someone attempts to send such unsupported digital assets to you (including via an airdrop), they will be permanently lost. We are not responsible or liable to you for any losses or damages which may occur as a result of any attempt to use the Cryptocurrencies Hub with any digital asset we do not support.PYUSD StablecoinOne of the Crypto Assets that we support is PYUSD, a U.S. dollar denominated stablecoin. PYUSD is issued by Paxos, not us, and is subject to the Paxos US Dollar-Backed Stablecoin Terms and Conditions (the “Paxos Terms”). You should read the Paxos Terms carefully. By purchasing, receiving, or holding PYUSD, you are agreeing to the Paxos Terms.The Paxos Terms contain important information about your use of PYUSD, including Paxos’s obligation to ensure that PYUSD is fully backed by an equivalent amount of U.S. dollar bank deposits, U.S. Treasuries guaranteed by the full faith and credit of the United States Government, and U.S. Treasury reverse repurchase agreements held in custody by Paxos for the benefit of PYUSD holders. The reserve assets that back PYUSD will not include money-market funds. Paxos may hold such assets in a manner that generates interest and other earnings, in which case, you agree that Paxos may deduct from the assets it holds to support PYUSD the amount of any such interest and earnings attributable or allocable to the assets backing your PYUSD as payment for the custody services provided by Paxos, and you agree that Paxos may share such amount with us. You are not entitled to any interest or other earnings that may be generated on the assets backing your PYUSD.PYUSD is different than other Crypto Assets. Regardless of the price of PYUSD in the market, if we buy your PYUSD token in your Cryptocurrencies Hub, the price will be $1.00 U.S. dollar per token. When you buy or sell PYUSD in your Cryptocurrencies Hub, we will satisfy your order by buying PYUSD from or selling PYUSD to Paxos, the issuer of PYUSD. Paxos is obligated to buy and sell PYUSD to and from us at a stable price of $1.00 U.S. dollar per PYUSD token.You may also redeem PYUSD directly with Paxos for a price of $1.00 U.S. dollar, subject to the Paxos Terms. You should review the Paxos Terms carefully to understand your rights to redeem your PYUSD with Paxos.We may stop supporting PYUSD at any time. We may, but are not obligated to, provide you notice prior to terminating support of PYUSD as a Crypto Asset. You must sell or transfer to an external digital asset wallet any PYUSD token in your Cryptocurrencies Hub that we have communicated we will no longer support.We do not guarantee Paxos’s performance or obligations. Please read the RISK DISCLOSURES for more information.
Holding Crypto Assets in your Cryptocurrencies Hub
Any balance in your Cryptocurrencies Hub represents your ownership of the amount of each type of Crypto Asset shown. We combine your Crypto Asset balance with the Crypto Asset balances of other Venmo accountholders and hold those Crypto Assets, in one or more omnibus accounts, directly or with a Service Provider. We keep a record of your interest in any omnibus account based on the amount of each type of Crypto Asset that is reflected in your balance. You do not own any specific, identifiable, Crypto Asset. These Crypto Assets are held apart from our corporate assets and we will not use these assets for our operating expenses or any other corporate or business purposes, nor will we voluntarily make these Crypto Assets available to creditors in the event of bankruptcy. When you view your Cryptocurrencies Hub balance, we will show you the amount of each type of Crypto Asset you own, as well as a U.S. dollar equivalent value of those Crypto Assets. The price of Crypto Assets generally may rise and fall over time, and the price may sometimes change quickly and dramatically. So, even if the number of each type of Crypto Assets you hold remains the same, the U.S. dollar equivalent value will change as the market price of each Crypto Asset fluctuates. The U.S. dollar value we display is an estimate based on market data from a Service Provider. The value we show is the midpoint between the lowest recent sale price at which the applicable cryptocurrency was offered for sale and the highest recent price at which that same cryptocurrency was purchased, as reported by a Service Provider. This estimate does not represent the value you will receive if you actually sell your Crypto Assets or the price you will pay to buy more Crypto Assets and does not include our spread or fees.
Buying Crypto Assets
You may use your Cryptocurrencies Hub to buy Crypto Assets using the following funding sources:
• a balance held in your Venmo account;
• a bank account in your name linked to your personal Venmo account; or
• a debit card in your name linked to your personal Venmo account. We do not allow use of a credit card or other credit products (including, without limitation, those we offer) to purchase Crypto Assets. To buy Crypto Assets, we will first show you the amount of Crypto Assets you would receive in exchange for the amount of money that you wish to spend. Because the price of most Crypto Assets fluctuates, the price we provide will only be valid for a limited time. If the price we provided expires, you won't be able to complete your transaction at that price. If you still want to buy Crypto Assets, we will provide you with updated pricing information. The updated price you see may be much higher than a price that just expired. This is because most Crypto Assets are inherently volatile. The price of PYUSD, unlike other Crypto Assets, will remain fixed at $1.00 U.S. dollar per PYUSD token when bought from or sold to us on the Cryptocurrencies Hub. Please read the RISK DISCLOSURES for more information. Once you confirm your transaction, we will then execute and settle your purchase with our Service Provider. Once you confirm your purchase, your transaction is not reversible. If we cannot complete your purchase for any reason, we will notify you. Once your transaction is complete, we will email you a receipt. You may also see your transaction history in your Venmo account.Actions We May Take for Insufficient Payment for Crypto AssetsWhen you buy Crypto Assets, you agree that you have enough available funds in your selected funding source to complete your purchase. If we are not able to collect the required funds to complete your purchase from your selected funding source, you authorize us to:
- stop your purchase so that you are not able to buy Crypto Assets in that transaction,
- debit any other balance you hold in your Venmo account (including your PYUSD or other Crypto Assets) for the greater of (i) the purchase price of the Crypto Assets or (ii) the sale price of the Crypto Assets you have sold for which we did not receive payment,
- debit any other funding source you have linked to your personal Venmo account,
- remove the Crypto Assets from your Venmo account for which we did not receive payment; and/or
- take any other action that we deem necessary to collect payment for your transaction, as allowed or required by relevant laws and regulations.
Selling Crypto Assets
When you use your Cryptocurrencies Hub to sell your Crypto Assets, we will deliver the proceeds from the sale into your Venmo account balance. The timing of transfers of proceeds may be affected by any holds or limitations we place on your Venmo account, including specific holds or limitations with respect to the proceeds of the sale of your Crypto Assets.To sell Crypto Assets, we will first show you the amount of money for which the Crypto Assets would be sold.Because the price of most Crypto Assets fluctuates, the price we provide will only be valid for a limited time. If the price we provided expires, you won't be able to complete your transaction at that price. If you still want to sell your Crypto Assets, we will provide you updated pricing information. The updated price you see may be much lower than a price that just expired. This is because most Crypto Assets are inherently volatile. The price of PYUSD, unlike other Crypto Assets, will remain fixed at $1.00 U.S. dollar per PYUSD token when bought from or sold to us on the Cryptocurrencies Hub. Please read the RISK DISCLOSURES for more information. Once you confirm your transaction, we will execute and settle your sale with our Service Provider.
Once you confirm your sale, your transaction is not reversible. If we cannot complete your sale for any reason, we will notify you. Once your transaction is complete, we will email you a receipt. You may also see your transaction history in your Venmo Account.
Sending Crypto Assets
You can use your Cryptocurrencies Hub to send Crypto Assets to another digital asset wallet you control or to someone you know. Providing the incorrect recipient information (for example, destination wallet address, name, or username) will result in your Crypto Assets not being delivered to your intended recipient and being irretrievably lost. You are solely responsible for providing correct transaction details, including recipient information, to us. We are not responsible or liable for any losses you may incur as a result of you providing incorrect transaction details. There are two types of send transactions:
Internal TransfersYou can send Crypto Assets to the Venmo account of a third party such as a friend or family member. If the person to whom you are sending Crypto Assets has not already set up a Cryptocurrencies Hub, they can claim their Crypto Assets by setting up their Cryptocurrencies Hub. If they don’t claim their Crypto Assets within 30 days, the Crypto Assets will be returned to you. You should carefully verify that you are providing the correct recipient information to us.External TransfersYou can send Crypto Assets to an external digital asset wallet that you own and control, or to an external digital asset wallet owned and controlled by another person, such as a friend or family member. In order to send Crypto Assets outside of Venmo, you will need to provide the wallet address where you want to send the Crypto Assets.You should carefully verify that you have provided the correct destination wallet information to us prior to submitting your external transfer.You will also need to use a destination wallet address for the type of Crypto Asset being sent. There are different wallet addresses for each type of Crypto Asset. For example, if you are sending Bitcoin, you must use a destination wallet address designated for Bitcoin—you cannot use a destination wallet address designated for Bitcoin Cash, Ethereum or any other Crypto Asset. Using the wrong destination wallet address type will result in the transmitted Crypto Asset being irretrievably lost. We are not responsible for losses or other damages resulting from the use of the wrong destination wallet address type.Once you submit your transfer, the transfer will remain unconfirmed and pending until the cryptocurrency network confirms the transfer. You can read more about network confirmations, including the number of confirmations required for us to reflect a transaction as complete in our help center. If your transaction is not submitted to the cryptocurrency network for confirmation, we will notify you. Even when a transfer is unconfirmed and pending, the transfer is irreversible. We do not own or control the cryptocurrency networks, and we make no guarantee that an external Crypto Asset transfer will be confirmed by the network. At the time your transaction is reflected as “confirmed” by us, your recipient’s wallet provider may still require additional confirmations by the cryptocurrency network before reflecting the transfer.You will be charged a network fee in order to send Crypto Assets to an external digital wallet. If the amount of Crypto Assets in your Cryptocurrencies Hub is less than the applicable network fee, you will not be able to transfer your Crypto Assets. Information on network fees can be found in the Information on Fees and Pricing section below. If the recipient external wallet address you provide is for a PayPal account, we will process your transfer “off-chain” rather than through the cryptocurrency network and you will not be charged a network fee.
- Internal Transfers: A transfer to another Venmo Cryptocurrencies Hub.
- External Transfer: A transfer to a digital wallet outside of Venmo.
Receiving Crypto Assets
You can use your Cryptocurrencies Hub to receive Crypto Assets from an external digital asset wallet you control or that is owned by any other person you know. You may also receive Crypto Assets from another Venmo Cryptocurrencies Hub. You cannot access any Crypto Assets that we do not support. If you attempt to receive any Crypto Assets that we do not support, they will be irretrievably lost, and we are not responsible or liable to you for any losses or damages that arise.Other Venmo users can send you Crypto Assets using your name, username, or wallet address. In order to receive Crypto Assets from an external digital asset wallet, the sender will need to use your wallet address for the type of Crypto Asset being sent to you. You have different wallet addresses for each type of Crypto Asset. You can get your wallet address for each type of Crypto Asset from your Cryptocurrencies Hub. For example, if you are receiving Bitcoin, you must use the wallet address designated for Bitcoin—you cannot use the wallet address designated for Bitcoin Cash, Ethereum or any other Crypto Asset. Using the wrong wallet address will result in the transmitted Crypto Asset being irretrievably lost. We are not responsible for losses or other damages resulting from the use of the wrong wallet address.When you or another person sends Crypto Assets to your Cryptocurrencies Hub from an external cryptocurrency wallet, the person sending the Crypto Assets is solely responsible for properly executing the transfer on the cryptocurrency network. For example, the person sending the Crypto Assets must enter the correct destination wallet address and pay a sufficient network fee so that the transaction will be successfully recorded. If the sender does not pay a high enough network fee, the transfer may be delayed or may not be confirmed. We do not own or control the cryptocurrency network and will not treat a transfer of Crypto Assets as complete until the transfer is confirmed by the network. We cannot help you to address any delay or loss as the result of the sender paying an insufficient fee or the transfer otherwise not being confirmed by the network.Crypto Assets sent to you will be reflected as unconfirmed and pending until the cryptocurrency’s network can confirm and complete the transfer. You can read more information on network confirmations, and the number of confirmations required in order for us to reflect a transaction as complete in our educational content and help center.We will review Crypto Assets sent to you, including for risk holds, sanctions screening, and other compliance and risk considerations. Crypto Assets will not be credited to you until they pass our risk and compliance review. Crypto Assets credited to your Cryptocurrencies Hub can still become subject to subsequent holds or claims, including holds that limit your ability to transfer or sell Crypto Assets, or transfer or withdraw the proceeds from the sale of the Crypto Assets.
Information on Fees and Pricing
We make money when you buy and sell Crypto Assets. When you buy or sell Crypto Assets (other than when you buy or sell PYUSD in exchange for U.S. dollars, we will charge a spread (or margin) between the market price we receive from our Service Provider and the exchange rate between USD and Crypto Assets displayed to you. This spread applies when you buy or sell Crypto Assets (other than PYUSD) in exchange for U.S. dollars. The amount that we make and the exchange rate provided may be different than what you would pay on other cryptocurrency platforms. You will also be charged certain fees when you buy, sell, and transfer Crypto Assets. More information on pricing and fees can be found on the Venmo Fees page.
At the time you buy or sell Crypto Assets (other than when you buy or sell PYUSD in exchange for U.S. dollars), we will disclose to you the applicable exchange rate and the amount of fees that you will be charged for that transaction. The exchange rate will include an estimated spread of one percent (1.0%), provided, however, that the actual spread may be higher or lower based on market conditions. We will not separately calculate or disclose the spread we earn on each transaction. By using your Cryptocurrencies Hub, you agree to pay all applicable exchange rates (including spread) and fees.
If you use a linked bank account or debit card as a funding source to buy Crypto Assets, your bank may charge you its own fees, including overdraft fees or insufficient fund fees, if applicable. We are not responsible for any fees that may be charged to you by your bank.Network FeesWhen you transfer Crypto Assets to an external wallet address, you will be charged a fee that is designed to cover the cost of network fees. We will disclose this fee to you before your transfer. Cryptocurrency networks need fees in order to process transfers of Crypto Assets that are broadcast to the network. These fees are often referred to as “network fees” or “gas fees.” The amount of network fees required to process a transfer fluctuates constantly. The fee we will charge you is our estimate of the fee the network will take to process your transfer. The fee that you will pay to us may be higher or lower than the actual fee paid to the network, based on market conditions. If the actual network fee is higher, that amount is our or our Service Provider’s responsibility. If the actual network fee is lower, we or our Service Provider will retain the difference. We do not charge network fees for transfers between Cryptocurrencies Hubs on Venmo, or transfers between a PayPal and Venmo Cryptocurrencies Hub.
Reversals / Cancellations
You cannot reverse, cancel or change any transaction once it has been authorized. If your payment method has insufficient funds, you reverse the payment transaction, or we otherwise do not receive payment for your transaction, you authorize us, in our sole discretion, to take any of the Actions We May Take for Insufficient Payment for Crypto Assets.
We also reserve the right to not process, to cancel or, to the extent possible, to reverse a transaction, if (i) we believe that the transaction relates to any Restricted Activities, (ii) we have placed a hold or limitation on your Venmo account, (iii) we have suspended your Cryptocurrencies Hub, (iv) we believe the transaction involves money laundering, terrorist financing, fraud or any other type of crime or (v) in response to a subpoena, court order, or other government order, or (vi) we believe, in our sole discretion, processing the transaction would expose us, our service providers, or our customers to excessive risk. In such instances, regardless of the reason we have blocked, cancelled or reversed your transaction and regardless of the reason we have lifted or reversed that restriction, we do not guarantee you will be able to reinitiate your transaction at the same price or on the same terms as the transaction that we did not process, or that was cancelled or reversed.
While we will try to complete purchases, sales and transfers of Crypto Assets that you authorize and that comply with these Cryptocurrency Terms, we do not guarantee your ability to buy, sell, send or receive Crypto Assets. Your ability to buy, sell, send or receive Crypto Assets may be delayed or unavailable due to the availability of the Crypto Asset or funds from your funding source, issues with the trading network or our ability to interface with our Service Provider(s), a legally permitted delay by Paxos in the redemption, sale, or minting of PYUSD, system downtime, limitations or suspensions we impose on your Cryptocurrencies Hub in our sole discretion, for required safety, security, or legal reasons, or for other reasons outside our or any service provider's control, and we are not liable to you if we or our Service Provider is unable or delayed in executing or settling your transactions. If Paxos is unable or delayed in executing and settling PYUSD transactions for any reason, we reserve the right to defer or cancel your PYUSD order.Your access to the Cryptocurrencies Hub or your ability to hold, buy, sell, send or receive Crypto Assets, including the price for buying, selling and transferring can also change or be limited by extraordinary circumstances outside our control (for example, fire, flood, accident, riots, war, terrorist act, epidemic, pandemic, quarantine, civil commotion, breakdown of communication facilities, breakdown of web host, breakdown of internet service provider, natural catastrophes, governmental acts or omissions, changes in laws or regulations, national strikes, fire, explosion, generalized lack of availability of raw materials or energy, or extreme financial market conditions), which we either did not reasonably foresee or that happened despite our reasonable precautions ("Extraordinary Circumstances"). We will not be liable to you for limits, suspension, delay, or change to your Cryptocurrencies Hub or your inability to transact in Crypto Assets because of Extraordinary Circumstances, including any changes in the buy or sell price of Crypto Assets because of Extraordinary Circumstances. We may buy and sell cryptocurrency through Service Providers acting as market makers providing liquidity ("Liquidity Provider"). A Liquidity Provider may in turn buy and sell cryptocurrency through an affiliated cryptocurrency exchange, provided, however, that (a) the Liquidity Provider trading will always be designed to be revenue-neutral over the long term (i.e. the Liquidity Provider will not profit from these transactions as a whole), and (b) the Liquidity Provider will not use earlier or different access to information about exchange trading from what is available to other participants on the cryptocurrency exchange. Cryptocurrency assets in a given address are controlled by the private key of the holder of the address. If the private key is compromised or lost, the cryptocurrency assets in that address may be stolen or lost and otherwise unrecoverable. Crypto Assets, including PYUSD, are not insured by FDIC, SIPC or any other public or private insurer, including against cyber theft or theft by other means. Cryptocurrency activity is not a regulated activity in many U.S. states and territories. The value of Crypto Assets can be extremely volatile and unpredictable, which can result in significant losses in a short time. Buying and selling Crypto Assets is inherently risky, and you should consider the risks before deciding to buy or sell Crypto Assets, including those provided in our STATE DISCLOSURES section below.PYUSD is issued by Paxos. Please refer to the Paxos Terms for additional terms and conditions related to PYUSD, including how PYUSD is fully backed by an equivalent amount of U.S. dollar denominated bank deposits, U.S. Treasuries, and U.S. Treasury reverse repurchase agreements and how Paxos maintains custody of the assets backing PYUSD, and your ability to redeem PYUSD at a price of $ 1.00 U.S. dollar directly with Paxos. You can also access the U.S. dollar value of your PYUSD by selling the PYUSD to us at a price of $1.00 U.S. dollar per one PYUSD token, provided that we can concurrently sell or redeem that PYUSD with Paxos at the same price of $1.00 U.S. dollar per one PYUSD token. We do not guarantee Paxos’s performance or obligations. While PYUSD is designed not to fluctuate in value, the price of PYUSD may be higher or lower than $1.00 U.S. dollar on other exchanges.
Market Data & Educational Content
Within your Cryptocurrencies Hub, you'll find educational content on cryptocurrency generally, the cryptocurrency market, tax implications of buying and selling cryptocurrency, and the particular Crypto Assets available to buy, sell, send and receive through the Cryptocurrencies Hub. The educational information available through your Cryptocurrencies Hub is provided as general educational background. The information is not tailored to individual Venmo users and therefore, is not provided based on your individual financial, investment, tax, legal or educational needs and circumstances. The information is not investment, financial, tax, legal or trading advice. The information may include content provided by third parties; we take no responsibility for third-party educational materials. Within the Cryptocurrencies Hub you will also find information on the market price of the Crypto Assets based on the data shared with us by our Service Provider. The market price for Crypto Assets may be different on different marketplaces. The market data that we provide to you is from an external source that we believe to be reliable. However, we do not control the external sources or the data they provide, and we do not always independently verify that the information provided is complete and accurate. Therefore, we cannot and do not guarantee that the information is accurate, complete, timely, or suitable for use, and it may be inaccurate, incomplete or out of date. You should verify all information that you receive before relying upon it, and we have no liability to you if you make decisions based on the market information that you receive from or through us. All market data and educational content, including crypto price alerts, are provided “as-is” and without any representation or warranty, whether express, implied or statutory. We shall have no liability and specifically disclaim all warranties, express or implied, for any market data or educational content on the Cryptocurrencies Hub, or any use thereof.
No Investment or Tax Advice
Neither we nor our service providers (including, without limitation, our Service Provider(s)) provide investment or tax advice to you. You are solely responsible for all decisions to buy, sell, send or receive Crypto Assets through your Cryptocurrencies Hub, including understanding any tax obligations that you may incur. We do not manage your Cryptocurrencies Hub on your behalf. Our sole responsibility is to execute transactions and hold Crypto Assets on your behalf through our Service Provider(s), in all cases based on your instructions and these Cryptocurrency Terms. While we may make certain educational content available, including crypto price alerts, it is provided for general background information only and is not specifically tailored to you and your individual needs and circumstances and should not be construed as a recommendation. You must determine if any particular purchase or sale of Crypto Assets is appropriate for you, based on your own investment objectives, financial circumstances and risk tolerance, and make your own independent transaction decisions.
Crypto Asset Software Protocols and Forks
The technology that creates cryptocurrency, including your Crypto Assets, is typically governed by underlying software protocols that are open source, which means that anyone can use, copy, modify or distribute them. We do not currently own or control the underlying software protocols and these software protocols can change suddenly and unexpectedly in a way that has a significant impact on your Crypto Assets. Because we don't control this technology, we are not responsible for the operation of the underlying software protocols and cannot guarantee the continued functionality, security or availability of any Crypto Asset. Without assuming any responsibility, we, however, will only support those assets for which we have performed the necessary due diligence.
Software protocols governing a Crypto Asset can experience sudden changes in operating rules that are outside our control, called "forks." A fork can have a material change on the operation, functionality, value or even name of a Crypto Asset. A fork may result in multiple versions of a Crypto Asset, and each version could have a very different, and possibly lower, value than your Crypto Asset before the fork.
We may or may not support the fork of a Crypto Asset, whether or not the forked Crypto Asset holds any value. In the event of a fork, we may temporarily suspend trading of Crypto Assets in order to determine whether or not we will support any particular fork. In the event of a fork, we will evaluate the feasibility of supporting the fork and determine whether and to what extent any new assets resulting from the fork may be supported and/or allocated. This evaluation will take into account factors such as, but not limited to, the technical issues around supporting a fork, Service Provider dependencies, and legal and regulatory considerations.
If we support the fork of a Crypto Asset, and the fork is followed by an airdrop of new cryptocurrency that is credited to your Venmo account, your receipt of that cryptocurrency will generally be taxable.You agree that we are not responsible or liable to you for any losses or damages, including lost profits, which may occur as the result of a change in the underlying software protocol of a Crypto Asset, our determination to support or not support any particular fork or modified software protocol, and any interruption of trading while we make such determination. If we determine not to support a fork or modified software protocol, you may never get access to the assets governed by that fork or software protocol.
From time to time, we may, in our discretion, impose limits on the amount of Crypto Assets you can buy, sell, send or receive, which may include limits on the cash value or number of transactions in which you can engage over particular periods of time. Standard transaction limits are as follows:
• Weekly purchase limit: $20,000.00 U.S. dollars
• Rolling annual purchase limit: $50,000.00 U.S. dollars
• Minimum purchase amount: $1.00 U.S. dollar
• Minimum sale amount: $1.00 U.S. dollar
• Weekly send limit: Crypto Assets totaling the equivalent of $5,000.00 U.S. dollars
• Minimum “send” transfer amounts to other Venmo and PayPal Cryptocurrencies Hubs: Crypto Assets totaling the equivalent of $0.01 U.S. dollar
• Minimum “send” transfer amount to wallet addresses outside of Venmo:
• BCH: 0.01 BCH
• BTC: 0.001 BTC
• ETH: 0.01 ETH
• LTC: 0.01 LTC
• PYUSD: 10 PYUSDWe may change the above limits for safety, security or other lawful reasons. You can view your current limits on Venmo’s Payment Limits page.
Transaction History and Account Statements
You can view your Cryptocurrencies Hub transaction history by logging into your Venmo account. Your Venmo account statement will also include information on your purchase of Crypto Assets and the proceeds from the sale of your Crypto Assets, as well as your beginning and ending Crypto Asset balance and the fees you paid in connection with your Crypto Assets. Your Venmo account statement may not include all of the details regarding your purchase, sale or transfer of Crypto Assets that are available in your Venmo account transaction history.
Venmo Crypto Asset transactions are set to private by default, but you can choose to share individual Venmo Crypto Asset transactions with other users on the Venmo feeds. For more information, review Payment Activity & Privacy.
In addition to the other "Restricted Activities" identified in your Venmo User Agreement, you must not engage in the following "Restricted Activities":
• Breach these Cryptocurrency Terms;
• Use what we reasonably believe to be fraudulent funds in order to buy Crypto Assets;
• Initiate any transaction that is not intended to be completed, or is intended to abuse, manipulate, mislead or default other participants in the Crypto Asset market;
• Send or receive Crypto Assets for any unlawful purpose or in relation to any unlawful activity, including in violation of any applicable sanctions regime;
• Engage in any activity that operates to defraud us, other Venmo users, or any other person; or
• Control an account that is linked to another account that has engaged in any of these Restricted Activities.
Actions We May Take if You Engage in Any Restricted Activities
If we believe that you've engaged in any Restricted Activities, we may take a number of actions to protect ourselves, our customers and others at any time in our sole discretion. In addition to the remedies identified in your Venmo User Agreement, the actions we may take include, but are not limited to, limiting your access to or use of the Cryptocurrencies Hub, and/or suspending your Cryptocurrencies Hub, immediately and without penalty to us, including limiting your ability to buy, sell, send or receive Crypto Assets. You authorize us to seize your Crypto Assets if we believe a transaction relating to those Crypto Assets involves money laundering, terrorist financing, fraud or any other type of crime.
If we close your Venmo Account and Cryptocurrencies Hub or terminate your use of the Venmo services for any reason, we'll provide you with notice of our actions. You can find more information on what happens if we close your Cryptocurrencies Hub here. If you believe we have taken any action in error, please contact Venmo customer service or call: (855) 812-4430. You can also write to: PayPal, Attn: Venmo Cryptocurrency Support, P.O. Box 45950, Omaha, NE 68145-0950.
You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by us, any Venmo customer, or a third party caused by or arising out of your breach of these Cryptocurrency Terms, and/or your use of the Venmo services.
There may be tax consequences from any gain or loss you incur when you sell your Crypto Assets. The transfer of Crypto Assets to a third party may also have tax consequences in certain circumstances. You should consult your tax professional regarding your specific situation and your reporting of Crypto Assets transactions.We will provide you any required IRS forms 1099 with respect to the sale of any Crypto Assets (or the receipt of new cryptocurrency resulting from a fork that we support) for your tax records, and we will report any necessary form 1099 filings to the IRS. As permitted by the IRS, the forms 1099 provided to you will show gross proceeds only, and will not reflect any of your gains or losses on your Crypto Assets transactions. You should consult your tax professional regarding your specific situation and your reporting of Crypto Assets transactions. You can access your transaction history and account statements through your Venmo account for purposes of determining any required tax filings or payments. Although not reported on your forms 1099, your history and statements will include the cost basis of the Crypto Assets you purchased via your Cryptocurrencies Hub, and the gain or loss which occurred upon the sale of those Crypto Assets. We will use highest-in-first-out (“HIFO”) method to calculate gains and losses when you sell a Crypto Asset purchased via your Cryptocurrencies Hub. This means that the gains and loss calculation will attribute Crypto Assets sold in order from the highest to lowest cost basis value (i.e., based on the acquisition value of Crypto Assets that you purchased through your Cryptocurrencies Hub). We will not be able to calculate gains or losses on Crypto Assets that have been transferred to your Cryptocurrencies Hub, including Crypto Assets that have been transferred from another Venmo or PayPal account. We do not have access to and will not provide information regarding the cost basis in Crypto Assets that are transferred to your Cryptocurrencies Hub. You are responsible for maintaining your own cost basis records. We are not liable for any errors or omissions in any tax information (such as cost basis) that we are not required to report to the IRS on an applicable form 1099.
Liability for Unauthorized Transactions, Errors and Support
We will protect you from unauthorized activity involving the purchase or sale of Crypto Assets in your Cryptocurrencies Hub. When this protection applies, we will cover you for the full amount of unauthorized purchase or sale activity, as long as you cooperate with us, follow the procedures described in the unauthorized transaction process of your Venmo account terms, and follow the additional requirements described below related to your Cryptocurrencies Hub.We also work to prevent unauthorized transfers of Crypto Assets, and will reimburse you for unauthorized transfers out of your Venmo Cryptocurrencies Hub in the form and quantity of the Crypto Asset that was removed from your account, up to a maximum lifetime cap of an equivalent of $50,000.00 U.S. dollars over the life of the accountholder (based on the U.S. Dollar value of the Crypto Asset at the time of the unauthorized transaction), as long as you cooperate with us, and follow the procedures described below. Any reimbursement you receive from us represents a warranty of our own services. We do not provide insurance and do not insure you against loss of your crypto assets.What is an Unauthorized TransactionAn “Unauthorized Transaction” occurs when (i) Crypto Assets are purchased within your Venmo account that you did not authorize and do not benefit you or (ii) Crypto Assets from your Venmo account are sold or transferred in transactions that you did not authorize and do not benefit you. For example, if someone steals or fraudulently obtains your password, uses the password to access your Cryptocurrencies Hub, and sells your Crypto Assets, an Unauthorized Transaction has occurred.What is not considered an Unauthorized TransactionIt is NOT an Unauthorized Transaction if you grant authority to someone to use your Cryptocurrencies Hub (for example, by giving them your Venmo account login information) and they exceed the authority you gave them. You are responsible for transactions made in this situation unless you have previously notified us that you no longer authorize transfers by that individual.Requirements for Protection for an Unauthorized TransactionWe may limit your ability to sell or send Crypto Assets that you claim were purchased or sent to you without your authorization. If we have not limited your ability to sell or transfer these Crypto Assets, you still may not sell or transfer those unauthorized Crypto Assets before you report the unauthorized purchase to us or while we investigate your claim.If you sell or transfer any Crypto Assets that you claim you did not purchase, we will deny your claim for those sold or transferred Crypto Assets. You will not be able to recover any funds used to purchase the sold or transferred Crypto Assets. We will continue to address your claim for any disputed Crypto Assets that you did not sell or transfer.Reporting an Unauthorized TransactionIf you believe there has been an unauthorized purchase, sale, or transfer of Crypto Assets in your Cryptocurrencies Hub, please contact Venmo customer service immediately or call: (855) 812-4430 or write: PayPal, Attn: Venmo Error Resolution Department, P.O. Box 45950, Omaha, NE 68145-0950. Tell us AT ONCE if you believe that a purchase, sale or transfer of Crypto Assets has been made without your permission using your login information or by other means. You could lose all the Crypto Assets in your Cryptocurrencies Hub. If you tell us within 60 days after we provide you your Venmo account statements showing purchases, sales or transfers you did not make, we will reimburse you for the full amount of the reported Unauthorized Transactions, provided that for Unauthorized Transactions that are transfers, you will be eligible for reimbursement in the form and quantity of the Crypto Asset that was removed from your account, up to a maximum lifetime cap of an equivalent of $50,000.00 U.S. dollars over the life of the accountholder, (based on the U.S. dollar value of the Crypto Asset at the time of the unauthorized transaction).Also, if your Venmo account statement shows purchases, sales, or transfers of Crypto Assets that you did not make, including those made with your Venmo login information or by other means, tell us at once. If you do not tell us within 60 days after we provided the statement to you, you may not get back any Crypto Assets or money you lost after the 60 days if we can prove that we could have stopped someone from taking the Crypto Assets if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we may extend the time periods.Error ResolutionWhat is an Error:An “Error” means the following:
What is not considered an Error
- We either take an incorrect amount of Crypto Assets from your Cryptocurrencies Hub or place an incorrect amount into your Cryptocurrencies Hub.
- You are charged an incorrect amount of money when you purchase Crypto Assets, or you are credited an incorrect amount of money when you sell Crypto Assets.
- A transaction related to your Crypto Assets is missing from or not properly identified in your Venmo account statement.
- We make a computational or mathematical error related to your Cryptocurrencies Hub.
- You request additional information or clarification concerning a transfer to or from your Cryptocurrencies Hub, including a request you make to determine whether an error has occurred.
In case of Errors or questions about your Cryptocurrencies HubIf you believe there has been an error with respect to your Cryptocurrencies Hub, telephone us at (855) 812-4430, contact us through the PayPal Resolution Center; or write us at PayPal, Attn: Venmo Error Resolution Department, P.O. Box 45950, Omaha, NE 68145-0950. Notify us as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
- You grant authority to someone to use your Cryptocurrencies Hub (for example, by giving them your Venmo account login information) and they exceed the authority you gave them. You are responsible for transactions made in this situation unless you have previously notified us that you no longer authorize transfers by that individual.
- You enter the incorrect recipient information when transferring Crypto Assets, including the incorrect wallet address type.
- Your recipient fails to receive Crypto Assets you attempt to transfer because of a failure or delay of the cryptocurrency network or an action by any institution where your recipient holds a cryptocurrency wallet or account.
- You fail to receive Crypto Assets transferred to you because of a failure or delay of the cryptocurrency network or an action by the sender.
- Other exclusions set forth in the errors section of the Venmo User Agreement.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 Business Days.We will determine whether an error occurred within 45 days after we hear from you and will correct any error promptly. If we ask you to put your complaint or question in writing and we do not receive it within 10 Business Days, we may not credit your Venmo account. For errors involving new Venmo accounts, we may take up to 90 days to investigate your complaint or question.We will tell you the results within 3 Business Days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.Processing ErrorsWe will rectify any processing error that we discover. If the error results in:
- Tell us your name.
- Describe the error or the transaction you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information.
- Tell us the dollar or Crypto Asset amount of the suspected error.
Processing errors are not:
- You receiving less than the correct amount of Crypto Assets or funds to which you were entitled, then we will credit your Cryptocurrencies Hub and/or Venmo account for the difference between what you should have received and what you actually received.
- You receiving more than the correct amount of Crypto Assets or funds to which you were entitled, then we will debit your Venmo account for the difference between what you actually received and what you should have received.
- Our not completing a transaction on time or in the correct amount, then we will be responsible to you for your losses or damages directly caused by this failure, unless:
- through no fault of ours, you did not have enough available Crypto Assets or funds to complete the transaction;
- our system was not working properly and you knew about the breakdown when you started the transaction;
- the transaction was not completed or delayed due to the cryptocurrency network or an action or omission by someone other than us or our service providers; or
- the error was due to extraordinary circumstances outside our control (such as fire, flood or loss of Internet connection), despite our reasonable precautions.
SupportIf you have other questions or concerns regarding your Cryptocurrencies Hub, your Crypto Assets, our Service Provider(s), or any related transactions or account activity, please contact Venmo customer service or call: (855) 812-4430. You can also write to: PayPal, Attn: Venmo Cryptocurrency Support, P.O. Box 45950, Omaha, NE 68145-0950.Crypto Assets that you Receive in Error or as the Result of an Unauthorized TransactionWe may limit your ability to sell or send Crypto Assets that you claim you received in error. If we have not limited your ability to sell or transfer these Crypto Assets, but you claim an error has caused you to receive Crypto Assets that you did not purchase or that were not intended to be sent to you, you still may not sell or transfer such Crypto Assets before you report the error to us or while we investigate your claim. If you sell or transfer any Crypto Assets that you claim you did not purchase, we will deny your claim for those sold or transferred Crypto Assets.Even if you do not make a claim, if you receive Crypto Assets in error or as the result of an unauthorized transaction, we may remove those Crypto Assets from your Cryptocurrencies Hub. If you receive Crypto Assets in error or as the result of an Unauthorized Transaction and sell or transfer such Crypto Assets, we may recover from you up to the amount of any sale proceeds or the cash value of the Crypto Assets as of the time you received the Crypto Assets.If you sell or transfer any Crypto Assets for which you have received a refund (whether from us or any other source such as your bank or card issuer), we may recover from you up to the amount of any refund provided to you.
- Delays that result from us applying holds or limitations.
- Delays based on a payment review.
- Your errors in making a transaction (for example, mistyping an amount of Crypto Assets that you are sending or using the wrong destination wallet address type).
Suspension and Closure of a Cryptocurrencies Hub
We may, in our sole discretion and without liability to you, not allow you to establish or access the Cryptocurrencies Hub or suspend, close or terminate your Cryptocurrencies Hub, or place a limitation on the type or amount of activities in which you can engage using your Cryptocurrencies Hub. This may occur if we are unable to verify your identity, you engage in Restricted Activities, pursuant to a court order or other legal process, you violate these Cryptocurrency Terms or another agreement between you and us, we are no longer offering Cryptocurrencies Hubs in your state of residence, or our Service Providers are no longer supporting the Cryptocurrencies Hubs, among other reasons.
Your Cryptocurrencies Hub will also be suspended or terminated if we suspend or terminate your Venmo account pursuant to the Venmo User Agreement. If your Cryptocurrencies Hub is suspended, the Crypto Assets in your account may fluctuate in value and we are not liable for any losses you may incur as a result of those fluctuations.
If we close your Cryptocurrencies Hub, and your account holds Crypto Assets, or if you receive Crypto Assets into an address previously associated with a Cryptocurrencies Hub that has been terminated, you authorize us, in our discretion and at any time, to liquidate the Crypto Assets in your account into U.S. dollars at the price that otherwise applies to the sale of Crypto Assets at that time, or another reasonable price determined by us in our reasonable discretion. You understand that the value of Crypto Assets may rise or fall quickly and that we have no obligation to sell at a time that provides the best price for you. While we will notify you that your account has been closed, regardless of how quickly we sell your Crypto Assets, we have no obligation to give you notice before we sell.
If we liquidate your Crypto Assets, and you have a Venmo account in good standing, we will credit any unrestricted funds to your Venmo account. Please note that there may be tax consequences from any gain or loss you incur if we liquidate your Crypto Assets.
Venmo suspension and termination rights
We, in our sole discretion, reserve the right to suspend or terminate these Cryptocurrency Terms, access to or use of our websites, software, systems (including any networks and servers used to provide any of the Venmo services) operated by us or on our behalf or some or all of the Venmo services.
Except where prohibited by law or regulation, as security for the performance of your obligations under these Cryptocurrency Terms, you grant to us a lien on, and security interest in and to, your Crypto Assets.
Amounts owed to Us
If the balance in your Venmo account (including your Cryptocurrencies Hub) becomes negative for any reason, that negative balance represents an amount that you owe to us. In addition to any rights we have under the Venmo User Agreement, you authorize us to sell your Crypto Assets and use the proceeds to pay a negative balance you owe to us in any Venmo account you own.
If we sell your Crypto Asset to pay amounts you owe to us, we will value the Crypto Assets using the price that otherwise applies to the sale of Crypto Assets at that time, or another reasonable price determined by us in our reasonable discretion. You understand that the value of most Crypto Assets may rise or fall quickly and that we have no obligation to sell at a time that provides the best price for you. While we will notify you if you have a negative balance, regardless of how quickly we sell your Crypto Assets, we have no obligation to give you notice before we sell.
Our failure to act with respect to a breach of any of your obligations under these Cryptocurrency Terms by you or others does not waive our right to act with respect to subsequent or similar breaches.
No Other Encumbrances
Other than our lien and security interest described above (which we will take on or in your Crypto Assets only if doing so is not prohibited by law or regulation), we will not pledge, hypothecate, assign or otherwise encumber your Crypto Assets.
Crypto Held in Dormant or Closed Accounts
If you receive Crypto Assets into an address associated with a Venmo account that has been closed, or if you do not log into your Venmo account for two or more years and we close your Venmo account, you may CONTACT VENMO CUSTOMER SERVICE or call: (855) 812-4430 and request your Crypto Assets. We may send your Crypto Assets to you (minus the applicable network fees) if we have verified the required identifying information that you have provided to us. If required, we may escheat (send) your Crypto Assets, or the funds from liquidating those Crypto Assets in accordance with the Suspension and Closure of a Cryptocurrencies Hub section, to your state of residency. We will determine your state of residency based on the state listed in the primary address for your Venmo account. If your address is unknown or registered in a foreign country, the Crypto Assets or funds from liquidation of those Crypto Assets will be escheated to the State of Delaware. Where required, we will send you a notice prior to escheating any such assets. If you fail to respond to this notice, such assets will be escheated to the applicable state. If you would like to claim any escheated assets from the applicable state, please contact the applicable state’s unclaimed property administrator.
• The cryptocurrency services are not regulated by the California Department of Financial Protection and Innovation. New York Disclosures
• Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC or Securities Investor Protection Corporation (SIPC) protections.
• Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange and value of virtual currency.
• Transactions in virtual currency may be irreversible, and accordingly, losses due to fraudulent or accidental transactions may not be recoverable.
• Some virtual currency transactions shall be deemed to be made when recorded on the public ledger, which is not necessarily the date or time the customer initiates the transaction.
• You have the right to receive a receipt with respect to your purchase, sale, and transfer of Crypto Assets.
• The value of virtual currency may be derived from the continued willingness of market participants to exchange fiat currency for virtual currency, which may result in the potential for permanent or total loss of value of a particular virtual currency should the market for that virtual currency disappear.
• There is no assurance that a person that accepts a virtual currency as payment today will continue to do so in the future.
• The volatility and unpredictability of the price of virtual currency relative to fiat currency may result in significant loss over a short period of time.
• The nature of virtual currency may lead to an increased risk of fraud or cyberattack.
• The nature of virtual currency means that any technological difficulties experienced by us may prevent the access or use of a customer's virtual currency.
• Any bond or trust account maintained by us for the benefit of our customers may not be sufficient to cover all losses incurred by customers.
• All legal documents must be served on PayPal’s registered agent, CT Corporation System; 28 Liberty Street, New York, New York 10005.Rhode Island Disclosures
• Information on fees and pricing can be found on the Venmo Fees Page.
• Your Crypto Assets are not insured or guaranteed by the FDIC, Securities Investor Protection Corporation (SIPC) or any other public or private insurer, including against cyber theft or theft by other means.
• The transfer, purchase and sale of cryptocurrency is irrevocable. Once you authorize a transaction, you will not be able to revoke your authorization.
• Information about unauthorized transactions and error-resolution can be found in the Liability for Unauthorized Transactions, Errors, and Support section of these terms and conditions.
• You may update your contact information through your personal Venmo account.
• The date or time when a transaction is executed, and your funding device is charged may differ from the date or time when you provided the instruction to authorize the transaction.
• You have the right to receive an email receipt with respect to your purchase, sale, and transfer of Crypto Assets.
• You have the right to at least thirty (30) days’ prior notice of a change in our fee schedule or changes to these terms and conditions.
• Cryptocurrency is not legal tender. Washington Disclosures
• Information on fees and pricing can be found on the Venmo Fees Page.
• Your Crypto Assets are not insured or guaranteed by the FDIC, Securities Investor Protection Corporation (SIPC) or any other public or private insurer, including against cyber theft or theft by other means.
• The transfer, purchase and sale of cryptocurrency is irrevocable.
• Information about unauthorized transactions and error-resolution can be found in the Liability for Unauthorized Transactions, Errors and Support section of these terms and conditions.
• The nature of cryptocurrency may lead to an increased risk of fraud or cyber-attack and your cryptocurrency value may be irretrievably stolen.