CRYPTO REWARDS PROGRAM TERMS AND CONDITIONS

** Update on 7 October 2023: We are terminating the Crypto Rewards program as of 5 November 2023. Up until that date, you will be able to cash out or transfer your crypto but will no longer receive rewards as crypto tokens. Your Curve Rewards and Curve Cash Scheme terms are unaffected. 

Cryptocurrency is not regulated in many countries. In particular, it is not regulated in either the United Kingdom or in Lithuania. This Crypto Rewards program is offered by Curve US, Inc. (an American company) and is not offered under regulatory permissions held by Curve UK Limited or Curve Europe UAB. 

The  Crypto Rewards Program (the “Program”) is offered by Curve US, Inc., a limited liability company formed under the laws of Delaware, United States of America, and allows eligible and participating Curve card customers to earn rewards denominated in select cryptocurrencies (“Crypto Rewards”) as described below subject to these Program Terms and Conditions ("Terms and Conditions"), the Curve Terms of Service applicable to you, the Zero Hash User Agreement, and the Zero Hash Terms. These Terms and Conditions set forth the terms and conditions under which Curve US, Inc. (“Curve” or “we”) makes the Program available to you as a participating customer (“you”) through Zero Hash. Cryptocurrency services and accounts are provided by Zero Hash LLC and Zero Hash Liquidity Services LLC, both limited liability companies formed under the laws of Delaware, United States of America. Zero Hash does not support cryptocurrency services and accounts in all jurisdictions. Crypto Rewards earned through the Program are funded by Curve. Curve does not engage in any cryptocurrency services, including exchange, transfer, or custody. All cryptocurrency transactions are conducted by Zero Hash.

By participating in the Program, you acknowledge that you have read, understood, and agree to be bound by the following terms and conditions:

How You Earn Crypto Rewards.

1.    You can only opt into the Program if you are a Curve X, Curve Black, or Curve Metal subscriber. If you have a free Curve account, you are not eligible for the Program.

2.    By opting into the Program, you elect to earn back a percentage of your eligible purchases in Crypto Rewards when using your Curve card instead of earning cashback under the Curve Rewards and Curve Cash Schemes (see here). No other cashback promotions are eligible for Crypto Rewards (this includes, for example, referral promotions and sign-up promotions). The percentage you can earn back will be shown to you in the Curve app as different rates may apply depending on which cryptocurrency you select. 

3.    For the sake of clarity, the Program is in substitution of, and not in addition to, the Curve Rewards and Curve Cash Schemes. The terms and conditions of those programmes are incorporated into these Terms and Conditions by reference, except to the extent of any inconsistency and in which case these Terms and Conditions will prevail. 

4.    Curve may discontinue the Program, make changes to the percentage of Crypto Rewards earned, or make any other changes to the Program at our sole discretion. 

5.    You will have the option to choose one (1) or more (where the functionality becomes available) out of the available cryptocurrencies listed in the app to earn Crypto Rewards. You can change your cryptocurrency selection or opt out of the Program at any time. 

6.    You will be required to open an account with Zero Hash when you onboard to the Program. Your account with Zero Hash will be credited with your Crypto Rewards within one (1) business day after they are earned (that is, in accordance with terms of the Curve Cash programme and Curve Rewards programme). Zero Hash will hold the Crypto Rewards in your Zero Hash account subject to the Zero Hash User Agreement (see here) and/or Zero Hash Terms and Conditions. 

How Crypto Rewards can be Redeemed.

7.    You can elect to redeem your Crypto Rewards, which can then be spent on your Curve card. When you redeem your Crypto Rewards, Zero Hash executes a sale and credit the proceeds (less any applicable fees) to Curve US, Inc. You can only cash out the entire value of the token you elect to redeem. These funds are then credited to your Curve Cash card, which is visible in the Curve app. Zero Hash is solely responsible for executing this conversion. 

7A.  You can also elect to transfer your Crypto Rewards from your account with Zero Hash to an external wallet. Curve is not liable for any losses you incur in relation to such transfers. Please refer to your Zero Hash User Agreement and/or Zero Hash Terms and Conditions for more information and any applicable fees in relation to such transfers. 

Fee on redemption. 

8.    If you choose to redeem your Crypto Rewards in accordance with clause 7, we may deduct a fee of up to 2.49% of the total amount redeemed. If a fee will be applied, we will inform you before any redemption is processed. This is in addition to any fees or charges that Zero Hash may apply to you, as set out in the Zero Hash User Agreement and Zero Hash Terms.

Currency conversions.

9.    Your Crypto Rewards will be acquired in US dollars. The earned value of your Crypto Rewards will be converted to US dollars using the exchange rate set by Zero Hash on the day they are issued to you. The value of your Crypto Rewards shown in the app will be denominated in Pounds Sterling (or your local currency, if and when the functionality becomes available in the app) using an exchange rate provided by Zero Hash. If you redeem your Curve Rewards, they will be subject to a currency conversion from US dollars. Curve is not involved in, or responsible in any way for, the exchange rate used by Zero Hash.

What are eligible purchases?

10.    You can only earn Crypto Rewards on eligible purchases made with your Curve card. You cannot earn Crypto Rewards on transactions or purchases of, or relating to:

10.1.    financial services, including but not limited to wire transfers, money orders, money transfers, insurance services, insurance sales, insurance underwriting, insurance premiums, cash disbursement, stored value funding, funding of cards and accounts, securities/shares (including through brokers and dealers), bonds, savings bonds;

10.2.    lotteries, gambling or gambling like services, tax payments, and government services; 

10.3.    education (including but not limited to, universities, colleges, schools and educational services);

10.4.    transportation and transportation dealers (including but not limited to car, truck, motorcycle, motor home, or mobile home dealers) and timeshares;

10.5.    real estate agents and managers; 

10.6.    political organisations;

10.7.    purchases made using your Curve Cash card balance; and/or

10.8.    withdrawing cash at an ATM (if available in your jurisdiction).

Changes to the Program.

11.    We may amend these Terms and Conditions from time-to-time, including terminating the Program. If we do so, we’ll give you 21 days’ notice before any changes take effect (unless these are minor and/or clarificatory). If we make changes that are clearly in your favour, we’ll tell you once we’ve made them or publish them on our website. If you’re unhappy with any changes we make, you can withdraw from the Program via the Curve app. If you do not withdraw from the Program by the date any changes take effect, you’ll be deemed to have accepted the amended terms in their entirety. Remember that if you temporarily opt-out of the Program and then opt-in again, you’ll be subject to the Terms and Conditions as they exist at the time you opt-in. 

Closing Your Account. 

12.    If you terminate your Curve account for any reason, you will no longer earn Crypto Rewards and you will be subject solely to the Zero Hash User Agreement. Curve is not responsible for any account that you hold directly with Zero Hash.

How You Could Lose Your Rewards.

13.    Curve may, in its sole discretion, decline to issue Crypto Rewards (whether or not accrued) for Curve Card accounts which Curve reasonably believes were obtained by fraud or suspected fraud, misuse, abuse, return, refund, or reversal. In addition, if Crypto Rewards have already been credited to your Zero Hash account, Curve may, in its sole discretion either (i) void such prior purchase, or (ii) offset such paid rewards against future rewards you earn, based on Curve’s determination of fraud or suspected fraud, misuse or abuse on your Curve Card account. You hereby expressly authorise Curve to recall or reverse any Crypto Rewards issued in violation of these Terms.

Warranty Disclaimer; Limitation of Liability.

14.    The Program and any Program content is provided “as is.” Curve and its affiliates, directors, officers, employees, agents or contractors (together, “Curve Parties”) make no representations or warranties concerning the Program or any Program content, either express or implied, including, without limitations, warranties of title, merchantability, fitness for intended use or a particular purpose, non-infringement, and otherwise arising by law, custom, usage, trade practice, course of dealing or course of performance. The Curve Parties do not warrant that the functionality or availability of the Program and any Program content will be uninterrupted or error-free, that defects will be corrected, or that they will be free of viruses or other harmful components. Further, Curve does not warrant, guarantee or make any representations regarding the quality of, or accuracy of advertisements for, any products or services offered or provided by Zero Hash or other partners or vendors in conjunction with the Program. You release Curve Parties for all activity in connection with the Program, including but not limited to, any use of the Program or the rewards. For the avoidance of doubt, Curve Parties shall not be liable for any damages, losses, liabilities, settlements and expenses (including, without limitation, costs and attorneys’ fees), arising in connection with any claim, suit, proceeding, or other action arising out of or related to Zero Hash User Agreements or Terms, your use of Zero Hash’s services or accounts, your activities or transactions through Zero Hash or any risks inherent thereto, or your relationship with Zero Hash, in each case whether arising out of or related to breach of contract, tort (including negligence) or otherwise.

Fair Use. 

15.    Your participation in the Program is subject to fair use. We may suspend your participation in the Program or suspend or close your Curve account if you breach this clause. You will not be credited Crypto Rewards that we reasonably believe were obtained in violation of this clause. For the avoidance of doubt, any conduct that amounts to or results in the same outcome as cash recycling, is a violation of this clause. This includes, for example, the purchase of any product or service that is redeemable for cash which is then cycled back through any Curve group company for the purpose of gaining Rewards under the Program. 

16.    If you attempt to circumvent these Terms, including by creating multiple accounts, your participation in the Program will be suspended and your Curve account may be suspended or closed.

Risk Disclosures.

17.    There are risks associated with cryptocurrency. There is no guarantee, or insurance, against cyber theft or theft by other means. 

18.    Cryptocurrency is not regulated in many countries. In particular, it is not regulated in either the United Kingdom or in Lithuania.

19.    While Crypto Rewards does not allow you to purchase cryptocurrency, the value of your Crypto Rewards may be volatile and unpredictable, which can result in significant losses in a short time. You may lose all value of your earned Crypto Rewards. The price and liquidity of cryptocurrency has been subject to large fluctuations and may continue to experience large fluctuations. Buying or selling cryptocurrency is inherently risky, and you should consider the risks before deciding to buy or sell cryptocurrency, including participating in the Program. 

20.    Curve does not provide investment, tax, or legal advice in respect of cryptocurrencies. You must determine if any particular cryptocurrency transaction is appropriate for you or consult with a financial advisor. For more information on risks please refer to the Zero Hash User Agreement and Zero Hash Terms.

21.    Curve disclaims all liability relating to price fluctuations relating to the Crypto Rewards, and makes no guarantees regarding the security, functionality or availability of the Program.

22.    You accept all risks associated with the use of the Program being associated with cryptocurrency, and any failures that might result thereof, including but not limited to, in connection with the failure of hardware, software and internet connections.

23.    You expressly agree that Curve is not responsible for any fluctuations in price fluctuations of cryptocurrency or any particular token you chose to receive your Crypto Rewards in.

24.    Cryptocurrency transactions are irreversible, and accordingly losses due to fraudulent or accidental transactions may not be recoverable. Cryptocurrency is not legal tender and is not backed by a government or central bank and accounts and value balances are not subject to the same consumer and other protections that regulated financial services are, and as such there is no protection to cover any losses associated with cryptocurrency. Regulatory changes at the state, federal, or international levels may adversely affect the use, transfer, exchange, and value of cryptocurrency. A particular token is a public ledger blockchain maintained by a vast unidentified private computer network spread around the world and choosing to participate in cryptocurrency is at your own risk and understanding of this network. The nature of cryptocurrency may lead to an increased risk of fraud or cyberattack even with strong security settings.  Your bank accounts are at increased risk of being hacked to the extent linked to bitcoin accounts. The nature of cryptocurrency means that any technological difficulties experienced by the Program may prevent the access or use of a customer's cryptocurrency. Some cryptocurrency transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that you have initiated the transaction. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. The value of cryptocurrency may be derived from the continued willingness of market participants to exchange fiat currency for cryptocurrency, which may result in the potential for permanent and total loss of value.

25.    FOR CUSTOMERS BASED IN THE UNITED KINGDOM, THE FINANCIAL OMBUDSMAN SERVICE AND THE FINANCIAL SERVICES COMPENSATION SCHEME DO NOT APPLY TO THE SERVICES PROVIDED TO YOU UNDER THE PROGRAM.

26.    FOR CUSTOMERS BASED IN THE EEA, THE LITHUANIAN DEPOSIT INSURANCE SCHEME DOES NOT APPLY TO THE PROGRAM.

Termination of Program.

27.    These Terms and Conditions apply to you upon your enrollment in the Program and continue until the earlier of the following: (1) your Curve account being closed; or (2) the Program being terminated. Upon any termination of the Program, your right to use and access the Program will end. Termination will not prejudice either your or Curve’s remedies at law or in equity.

Tax; Tax Documentation.

28.    YOU ARE SOLELY RESPONSIBLE FOR ANY TAX LIABILITY, INCLUDING ANY REPORTING OR DOCUMENT FILING REQUIREMENTS OF TAX AUTHORITIES, THAT MAY ARISE AS A RESULT OF YOUR PARTICIPATION IN THE PROGRAM. DISPOSAL OF CRYPTOCURRENCY MAY RESULT IN CAPITAL GAINS TAX LIABILITIES AND/OR OTHER TAX LIABILITIES DEPENDING ON THE LAWS OF THE JURISDICTION THAT APPLY TO YOU.

29.    Curve is not liable or responsible for the reporting or declaration of any tax liability which may be deemed to arise as a result of your participation in the Program. We recommend you obtain personal tax advice in respect of any such liability. 

30.    Curve and/or Zero Hash may be required to provide information on any cryptocurrencies you may hold under the Program to HMRC in the United Kingdom or any other tax authority.

31.    Please refer to the Zero Hash User Agreement and Zero Hash Terms for more information on tax and tax documentation matters.

Assignment. 

32.    You cannot transfer or assign any rights or obligations under these terms, except with the express written consent of Curve. Curve may transfer or assign any of its rights and obligations under these terms. 

Governing law.

33.    These terms are governed by, and are to be construed in accordance with, the laws of England and Wales. If you live in the United Kingdom, only the courts of England and Wales can hear matters relating to these terms. If you reside in the EEA, you agree to the non-exclusive jurisdiction of the courts of England and Wales but you may be able to bring a claim in competent courts in your EEA country of residence under local laws.

Severability and third party rights.

34.    If any part of these terms is held to be invalid or unenforceable, they may be struck out and the remaining provisions remain enforceable. 

35.    A non-party to these terms has no rights under the Contracts (Rights of Third Parties) Act 1999 to rely upon or enforce these terms, however, this does not affect any right or remedy of a third party that may exist otherwise than under that Act.