Terms of Service

  1. Introduction

Welcome to the APYHARVEST website. The following Terms of Service (the “Terms”) govern your access and use of apyharvest.com . Certain sections of the Terms govern your account with APYHARVEST (your “APYHARVEST account”). All use of your “APYHARVEST account” is subject to the Terms. By registering APYHARVEST account, you acknowledge that you have read, understood, and agree to comply with the Terms. If you do not agree with anything contained in the Terms, please do not submit your registration application to APYHARVEST, or otherwise utilize apyharvest.com . In the Terms, members of APYHARVEST are referred as “you” or “your”. The owner of website, Harvest Investment, a UK company, is referred to as “APYHARVEST”, “we”, “us” or “our” in the Terms. Together you and we may be collectively referred to as “Parties.”

  1. Definitions

“AML/CTF” means Anti-Money Laundering and Counter- Terrorism Financing.

“APYHARVEST wallet” mean a User’s assigned individual (or company) account on the our website, permitting User to utilize the Services, transfer cryptocurrencies with APYHARVEST, control and manage with their crypto assets with APYHARVEST and see and manage their own profile data.

“Blockchain” means a type of distributed ledger, comprised of unchangeable, digitally recorded, data in packages called blocks.

“Blockchain network” means any digital ledger technology service infrastructure on which the Currency coins and tokens may be utilized and/or exchanged, as communicated by the Company to the Coinholders or Tokenholders from time to time.

“APR” means, with respect to any Receivable, the annual percentage rate of interest stated in such Receivable.

“APY” means Annual Percentage Yield, the total interest earned on a deposit, based on the interest rate and the frequency of compounding for a 365-day period.

“Cryptocurrency” means a digital or electronic medium of exchange, operating independently of a central bank, in which encryption techniques are used to regulate generation of units and to verify transfer of units from one person to another.

“Eligible cryptocurrency” means the types of cryptocurrencies we choose to accept and support, which are subject to change in our sole discretion, based on business and regulatory considerations.

“Hard Forks” – A hard fork is when nodes of the newest version of a blockchain no longer accept the older version(s) of the blockchain; which creates a permanent divergence from the previous version of the blockchain. Adding a new rule to the code essentially creates a fork in the blockchain: one path follows the new, upgraded blockchain, and the other path continues along the old path.

“HODL” is a term derived from a misspelling of “hold” that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies.

“KYC” means Know Your Customer.

“LTV” means Loan-To-Value ratio. It is an assessment of lending risk that we as lender examine before approving a loan. It is presented in percentage. Typically, loan assessments with high LTV ratios are considered higher risk loans (bellow LTV 50%). Therefore, if that kind of loan is approved, the loan has a higher interest rate.

“APYHARVEST Personal crypto banker” means REAL person assigned to user’s account, with sole purpose to assist with all their account needs and requests. Day-to-day duties of APYHARVEST personal crypto bankers include opening members accounts, assist with their crypto deposits and withdrawals, performing crypto swaps and all other crypto transactions. They are available 24/7, and their respond rate is always less than 12h.

“Stablecoins” are non-volatile cryptocurrencies offering price-stability which makes them suitable for use as standard currencies.

“Secure multiparty computation” or (MPC / SMPC) is a cryptographic protocol that distributes a computation across multiple parties where no individual party can see the other parties’ data.

They can enable data scientists and analysts to compute on distributed data compliantly, securely, and privately without ever exposing or moving it.

  1. Eligibility and Registration procedure

You must be at least 18 years old to open APYHARVEST account. We are not obligated to accept any application from any applicant, and we have sole and absolute discretion to accept or reject applications to open APYHARVEST account. Applicants from countries against which UK imposes financial sanctions are prohibited to open APYHARVEST account. APYHARVEST is subject to AML (Anti Money Laundering) and KYC (Know your Customer) under the UK laws. You always represent and warrant that all information provided by you to us is true, accurate and not misleading in any aspect.

  1. Types of service we provide

S1) APYHARVEST Crypto Wallet

We allow you to fully control your APYHARVEST wallet through communication with your personal crypto banker. At any given time, you can initiate deposit, withdraw, swap and any other crypto wallet related transaction. Your crypto assets in your APYHARVEST wallet are always yours, and you can access them 24/7. Each of your transaction requests like deposit, withdrawal, or swap, is processed in less than 12h.

S2) APYHARVEST Crypto Interest Account

From moment you deposit your crypto funds into your wallet, you start earning interest, based on type of cryptocurrency you deposited and APY% for that specific cryptocurrency. Minimum amount to start earning is 0.001 BTC. At any given time, you can top up your account and earn more. Interest is compounded and paid DAILY. Our interest rewards accrual period is everyday 00:00:00 GMT to 23:59:59 GMT. We pay rewards next day, no set time but always before 5PM GMT.

S3) APYHARVEST Crypto Borrowing Account

You may apply to borrow crypto assets from APYHARVEST, in a way that is collateralized with same or another crypto asset in LTV% ratio specific to than crypto asset. Your loan is pre-approved, there is no credit check, you just need to contact your personal crypto banker and you will get your loan in less than 12h. Minimum loan amount to borrow is 300 USDC per coin. We offer 5 different APR rates from 0.5% to 8% and 5 different LTV ratios from 67% to 20%. If you stick to your term and pay all interests in time, you will get additional earning interest on your collateral in amount of 10% of total interest paid for term period at time when we close loan. Every request you need, from prepaying your loan interest to margin calls, you do with assistance of your personal crypto banker.

S4) APYHARVEST Crypto Savings Account

You may save and plan with your crypto with us. We offer crypto retirement plans, crypto joint account saves and plans and crypto child education plans. All crypto savings plans can be done in BTC and USDC, in terms of 5,10 and 20 years. When you join APYHARVEST, ask your personal crypto banker about benefits and full breakdown calculations of each plan.

S5) APYHARVEST Personal Crypto Banker

First time in industry, like many mainstream banks, we offer to our members personal banking experience. Each of our members have personal crypto banker attached to their account. They are REAL persons who are there to provide 24/7 personal assistance with any aspect of member registered account and services with us. Their response rate is always less than 12h. They also provide additional layer of security that is hard to match.

  1. APYHARVEST Account types

APYHARVEST offers two types of accounts: Individual and Corporate. In both account types there must be ONLY one person for handling the account. For individual accounts upon request we may open joint crypto accounts for close family members. In case of corporate account, there can be ONLY one authorized representative.

  1. Ownership of crypto assets

For all periods during which you keep crypto assets in your APYHARVEST wallet, you hereby represent and warrant to us that any crypto asset you use in connection with your APYHARVEST wallet is owned by you or that you are validly allowed to conduct transactions using those crypto assets, and that all transactions initiated with your APYHARVEST wallet are for your own APYHARVEST wallet and not on behalf of any other person or entity.

  1. Insurance of your cryptocurrency account

Every APYHARVEST crypto account is insured up to amount of 2 BTC per account. We offer higher amounts of insurance for non-disclosed Tier 4 users. This insurance does not cover situations where member personal email is hacked in combination with both passphrases.

  1. Crypto Deposits

All crypto deposits are initiated with your personal crypto banker. You may get permanent or temporary deposit crypto address – it varies from case to case. In case of crypto miner interest account, deposit address is always permanent. There is no minimum or maximum deposit amount on APYHARVEST platform, and there is no deposit fee.

  1. Crypto Withdrawals

All crypto withdrawals must be initiated with your personal crypto banker. Minimum amount of withdrawal is equivalent to 1 USDC and there is no maximum amount of withdrawal unless you set daily limit with your personal crypto banker. We do not charge crypto withdrawal processing fee. For any crypto withdrawal bellow 300 USDC in value, transaction fee will be deducted from withdrawal. You can coordinate that transaction fee with your personal crypto banker, to be low, medium, or high, depending on network fees at that specific moment. For any crypto withdrawal amount equivalent or higher than 300 USDC in value, we pay for medium value transaction fee. Every crypto withdrawal request is processed in less than 12h.

  1. Risk Disclosure

Crypto assets are not legal tender. APYHARVEST is not a bank, and your wallet is not institutional deposit account. We are holding your crypto assets with your consent and we may lend out or sell part of your crypto asset in our best commercial and operation efforts to prevent losses. Our main core income is lending out ours and members crypto assets to institutions. The volatility and unpredictability of the price of crypto assets may result in significant loss over a short period of time, and APYHARVEST is not obligated to cover those type of loses. However, we provide 2 BTC and more insurance on every APYHARVEST crypto wallet that our members use to hold their crypto coins.

  1. Forks

APYHARVEST is under no obligation to support a Fork of a Crypto Currency that you hold in your account, whether or not any resulting version of such forked Crypto Currency is a dominant Crypto Currency or non-dominant Crypto Currency or holds value at or following such Fork.

If APYHARVEST opts, at its sole discretion, to support a Fork of a Crypto Currency, it will make a public announcement through the Site and/or by notifying Customers via email, and will bear no liability for any real or potential losses that may result based on the decision to support such Fork or the timing of implementation of support.

  1. Taxes

Inside your email statements, you will be able to see a record of the transactions from your APYHARVEST wallet(s) and you may use it for purposes of making any required tax filling or payments. It is your responsibility to determine what, if any, taxes apply to crypto payments you make or receive, and to report them to the appropriate tax authority. You agree that APYHARVEST is not responsible for determining whether or which tax laws may apply to your transactions.

  1. Cryptocurrency Account statements

We will send you by default email statements daily, or with any changes on your crypto wallets you hold with us. We keep all statements in our records for unlimited times, for each member, so that in case of him accidentally delete or somehow lose them, we can provide a copy. APYHARVEST crypto statements are clear and straight forward, easy to read and with all necessary data you need to see your current holdings and transactions. You may setup with your personal crypto banker frequency of receiving them, from daily to weekly or even monthly. You may also request on demand statements, which you will receive in less than 12h.

  1. Cryptocurrency Conversion rates

We use BINANCE cryptocurrency exchange rates for our in-wallet conversions. When you need to exchange your crypto coins inside your APYHARVEST wallets, you need to send your request to your personal crypto banker. He or she will then send you a quote, stating exchange rate used in BINANCE. We do not charge ANY fee for exchange. There is nothing hidden – you receive your quote, check it on BINANCE, and you should agree within 1h. Then in less than 1h from your confirmation, you will get your coins exchanged.

  1. Liability for unauthorized transfers from your APYHARVEST wallet

If you believe that an crypto transfer has been made without your permission, or if your crypto statement shows outgoing transfers that you did not make, you must notify us immediately via email to fraud@apyharvest.com . You accept all risks of unauthorized access to your personal email that is registered with APYHARVEST.

  1. Eligible cryptocurrencies

We currently support 40+ crypto currencies. The updated list you can track on our website earn crypto and borrow crypto pages. We may add or remove some of crypto assets periodically, and we will send email notification to every member 48h prior than we apply changes.

  1. Disclaimer of warranty

THE SITE AND THE CONTENT ARE PROVIDED TO YOU FOR INFORMATION PURPOSES ONLY ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT WARRANTIES OF ANY KIND, AND APYHARVEST HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. APYHARVEST DOES DO NOT MAKE ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY, OR AVAILABILITY OF THE SITE OR ANY CONTENT, NOR DOES APYHARVEST REPRESENT OR WARRANT THAT DEFECTS WILL BE CORRECTED, THAT THE SITE, CONTENT, OR THE SERVERS THAT MAKES THEM AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT THE SITE OR THE CONTENT WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS. ACCORDINGLY, APYHARVEST IS NOT LIABLE TO YOU FOR ANY LOSS OR DAMAGE THAT MIGHT ARISE, FOR EXAMPLE, FROM THE SITE’S INOPERABILITY, UNAVAILABILITY, DOWNTIME OR SECURITY VULNERABILITIES OR FROM YOUR RELIANCE ON THE QUALITY, ACCURACY, AVAILABILITY, OR RELIABILITY OF THE INFORMATION FOUND ON, USED ON, OR MADE AVAILABLE THROUGH THE SITE.THE SITE AND CONTENT SHALL NOT BE A SUBSTITUTE FOR TRADING, INVESTMENT OR ANY OTHER ADVICE FROM A LICENSED PROFESSIONAL. APYHARVEST SHALL NOT BE RESPONSIBLE OR LIABLE FOR ANY TRADING AND/OR INVESTMENT DECISIONS BASED ON ANY INFORMATION OBTAINED VIA THE SITE.

  1. Intellectual property

Unless otherwise indicated by us, all copyright and other intellectual property rights in all content and other materials contained on our Site or provided in connection with the Services, including, without limitation, APYHARVEST logo and all designs, text, graphics, pictures, information, data, and other files and the selection and arrangement thereof are the intellectual property APYHARVEST.

You are only allowed to use our intellectual property to the extent it is reasonably necessary for you to use the Site and the Services. It is prohibited to resell any of our intellectual property, distribute it or display publicly without our prior consent. It is prohibited to modify or otherwise make any derivative uses of our intellectual property; use the intellectual property for any other purpose than explicitly allowed under these Terms.

  1. Communications

We may be required to provide certain legal and regulatory disclosures, periodic statements and confirmations, notices, tax forms, contracts, and various other crypto banking related information (collectively “Communications”) to you in written form. By agreeing to these Terms, you consent to APYHARVEST delivering such communications to you in electronic form, including e-mail. We will use reasonable efforts to honor any request you may have to opt out from receiving some of our e-mails. You agree that all terms and conditions, agreements, notices, disclosures, and other communications that we provide to you electronically satisfy any legal requirement such communications would satisfy if they were provided in writing. 

  1. Waiver

Our failure or delay in exercising any right, power or privilege under these Terms will not operate as a waiver thereof.

  1. Changes in Terms

APYHARVEST reserves the right to make changes to the Terms at any time. It is your responsibility to review the Terms from time to time to see if modifications have been made. Your continued use of the apyharvest.com website after any modification of the Terms will conclusively indicate that you accept those changes.

  1. Governing law and jurisdiction, legal fees, and costs of lawsuits

These Terms are governed by and interpreted in accordance with the laws of the Commercial Court, 7 Rolls Building, Fetter Lane, London, EC4A 1NL, United Kingdom.

Any disagreements or disputes between you and the APYHARVEST, arising from the use of Services and being regulated by these Terms and concluded Agreement will be brought before the Commercial Court of the United Kingdom, unless they are settled by negotiations between the Parties. We invite you to raise your issue first by contacting our legal department before bringing any legal action before the courts or any other institutions. We are committed to thoroughly investigating your matter and, where possible, offering you a solution. Legal department is available via email legal@apyharvest.com . In case we end up in trial, you will cover all legal fees and costs of lawsuits, in cases where we are not charged guilty.

Last update on July 27, 2020