Legal

COINBASE USER AGREEMENT

This agreement (the “Agreement”) is for customers who reside in Australia.

This is a contract between you and:

Coinbase Australia Pty Ltd ("Coinbase Australia"), a private company limited by shares incorporated in Australia (ACN 654 922 442) and whose registered office address is c/o TMF Corporate Services (Aust) Pty Limited, Suite 1, Level 11, 66 Goulburn Street, Sydney NSW 2000, Australia. 

References in this Agreement to "Coinbase", "we", "our" or "us", are to Coinbase Australia, and references to "you" or "your" are to the person with whom Coinbase enters into this Agreement. 

By signing up to use an account through coinbase.com or pro.coinbase.com, or any of our associated websites, application programming interfaces (“APIs”), or mobile applications (collectively the "Site"), you agree that you have read, understood, and accept all of the terms and conditions contained in this Agreement, as well as our Privacy Policy, Cookie Policy, and Prohibited Use Policy.

We refer to the Fiat Services, Digital Asset Services and Additional Services (all defined below) and such other services that may be offered by Coinbase from time to time, collectively, as the"Coinbase Services", which can be accessed via the platform operated by Coinbase (the “Coinbase Platform”) (including the online platform which is accessible via the Site or at such location as may be prescribed by Coinbase from time to time). “Digital Asset” means any digital asset (including a virtual currency or virtual commodity) which is a digital representation of value based on (or built on top of) a cryptographic protocol of a computer network; and "Supported Digital Asset" means only those particular Digital Assets listed as available to trade or custody in your Digital Asset Wallet. Services and supported assets may vary by jurisdiction.

Amendment of this Agreement: We may notify you of any material changes to the Agreement that impact your rights under the Agreement by email at least 10 days in advance. In such circumstances, you will be deemed to have accepted the change if you continue to use the Coinbase Services. We may make all other amendments to the Agreement (including in relation to any other Coinbase Services) at any time by posting the revised Agreement (a “Revised Agreement”) on the Site (at www.coinbase.com/legal/user_agreement) or by providing a copy of it to you. The Revised Agreement shall, where lawful, be effective as of the time it is posted on the Site or provided to you (unless we state otherwise) but will not apply retroactively.  Your continued use of the Coinbase Services after the posting or provision of a Revised Agreement constitutes your acceptance of such Revised Agreement.  If you do not agree with any such modification, you should close your Coinbase Account and cease using the Coinbase Services. You agree that any notification of amendments in the manner described above shall be sufficient notice to you, and your continued access and/or use of Coinbase Services and/or the Site shall constitute an affirmative acknowledgement by you of the amendments and shall be deemed to be your acceptance of the Revised Agreement. 

Copies of the most up-to-date version of the Agreement will be made available on the Site at all times.

Dispute resolution: PLEASE BE AWARE THAT SECTION 10  (CUSTOMER FEEDBACK, QUERIES, COMPLAINTS, AND DISPUTE RESOLUTION) OF THIS AGREEMENT, CONTAINS PROVISIONS GOVERNING HOW TO RESOLVE DISPUTES BETWEEN YOU AND COINBASE. PLEASE READ SECTION 10 CAREFULLY

IMPORTANT NOTE: You should be aware that the risk of loss in trading or holding Digital Assets can be substantial. As with any asset, the value of Digital Assets can increase or decrease and there can be a substantial risk that you lose money buying, selling, holding, or investing in Digital Assets. 

Coinbase Australia is registered and enrolled with the Australian Transaction Reports and Analysis Centre (“AUSTRAC”) to provide digital currency exchange services in accordance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (“AML/CTF Act”).  Coinbase Australia’s digital currency exchange registered provider number is DCE100784914-001.

Other than under its registration and enrollment with AUSTRAC, Coinbase Australia is not licensed or authorised (and is not required to be licensed or authorised) by the Australian Securities and Investments Commission, the Reserve Bank of Australia, the Australian Prudential Regulation Authority (“APRA”), or any other Australian regulator in  respect of the  Digital Asset Services (described in Section 2.2) or Additional Services (described in Section 2.3) are not currently regulated by the Australian Securities and Investments Commission, the Reserve Bank of Australia, or any other regulator in Australia. The Digital Asset Services and Additional Services are not within scope of the jurisdiction of the Australian Financial Complaints Authority, and your Digital Assets and fiat are not subject to protection under the Australian Financial Claims Scheme. 

You should consult your financial advisor, legal or tax professional regarding your specific situation and financial condition, and carefully consider whether trading or holding Digital Assets is suitable for you.

1. ELIGIBILITY

To be eligible to use any of the Coinbase Services, you must be at least 18 years old and reside in a country in which the relevant Coinbase Services are accessible. Please note that not all Coinbase Services are available in every country. The list of Coinbase Services accessible by country can be found at https://www.coinbase.com/global.

You may only use the Coinbase Services and your Coinbase Account (defined below) for your own account and not on behalf of or for the account of any third party, and you may not intentionally or unintentionally provide any third party with access to your Coinbase Account, except as expressly permitted in writing by Coinbase Australia or in this Agreement.

2. SERVICES

2.1. Fiat Services. 

The following services (the "Fiat Services") may be provided to you by Coinbase Australia:

(A) a hosted digital wallet (“Fiat Wallet”) enabling you to deposit and store fiat funds (such as Australian dollars (“AUD”)) on the Coinbase Platform, for use solely on the Coinbase Platform. 

Any funds in the Fiat Wallet are electronically stored monetary value that is, and is intended to be, used only in Australia for the payment or part payment of goods and/or services provided by Coinbase. Accordingly, with respect to the Fiat Services, Coinbase does not purport to operate a non-cash payment facility regulated under the Corporations Act 2001 (Cth) (“Corporations Act”) or a purchased payment facility regulated under the Payment Systems (Regulation) Act 1998 (Cth).  Coinbase is not, and is not required to be, licensed (including through an Australian financial services licence), authorised (including as an authorised deposit-taking institution), approved, registered or regulated to carry on the Fiat Services.

2.2. Digital Asset Services. 

The following services (the "Digital Asset Services") may be provided to you by Coinbase Australia: 

(A) one or more hosted Digital Asset Wallets enabling you to store, track, transfer, and manage Supported Digital Assets (the “Digital Asset Wallets”); and 

(B) a Digital Asset exchange service enabling you to obtain prices for your purchases and sales of Supported Digital Assets, and (subject to certain restrictions) carry out any such purchases or sales on the Site (the “Digital Assets Exchange Service”).

2.3. Additional Coinbase Services. 

In addition to the core services (i.e. the Fiat Services and the Digital Asset Services), additional services ("Additional Services") may be made available by Coinbase Australia (or another member of the Coinbase Group, as defined at Section 2.5 below) to users that fulfil certain eligibility criteria, including, without limitation, the Additional Services described in Appendix 3.  You may also elect to hold Supported Digital Assets in “Coinbase Vault” as further described in Section 5.18. Unless otherwise noted, all references to Digital Asset Wallet include Coinbase Vault. You may also elect to use Coinbase Wallet (an unhosted wallet service), for which different Terms of Service apply.

2.4. Fees. You agree to be responsible for the payment of, and pay, all fees. A list of fees for Coinbase Services, as amended from time to time, can be found on the Site at the ‘Pricing and Fees Disclosures’ and ‘Trading Fees’ pages, which shall form part of this Agreement.

2.5. Coinbase Group. Coinbase Australia and all affiliated and other group companies of those companies (including Coinbase, Inc.) shall together in this Agreement be termed the “Coinbase Group”.

2.6. Payment Services Partners. Coinbase may use a third party payment processor or collection agent to process any AUD payment between you and Coinbase, including but not limited to payments in relation to your use of the Digital Currency Transactions or deposits or withdrawals from your Fiat Wallet or Coinbase Account.

3. ACCOUNT SETUP

3.1. Registration of Coinbase Account. To use the Coinbase Services, you will need to register for a Coinbase account (a "Coinbase Account") by providing your details, including your name, email address and a password, completing certain verification procedures, and accepting the terms of this Agreement. By using a Coinbase Account, you agree and represent that you will use the Coinbase Services only for yourself, and not on behalf of any third party, unless you have obtained prior approval from Coinbase in accordance with Section 3.2 and 4.10 of this Agreement. Each customer may register only one Coinbase Account.  You are fully responsible for all activity that occurs under your Coinbase Account. We may, in our sole discretion, refuse to open a Coinbase Account for you, or suspend or terminate any Coinbase Accounts (including but not limited to duplicate accounts) or suspend or terminate the trading of specific Digital Assets in your Coinbase Account or the sending of Digital Assets from your Coinbase Account. Please see Section 7 below for more information.

3.2. Third party Access. If, to the extent permitted by Section 4.10, you grant express permission to a Regulated Third Party to access or connect to your Coinbase Account(s), either through the Regulated Third Party's product or service or through the Site, you acknowledge that granting permission to a Regulated Third Party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. You are fully responsible for all acts or omissions of any Regulated Third Party with access to your Coinbase Account(s) and any action of such Regulated Third Party shall be considered to be an action authorised by you. Further, you acknowledge and agree that you will not hold Coinbase responsible for, and will indemnify Coinbase from, any liability arising out of or related to any act or omission of any Regulated Third Party with access to your Coinbase Account(s). 

You may change or remove permissions granted by you to a Regulated Third Party with respect to your Coinbase Account(s) at any time through the tabs on the ‘Settings’ page on the Site.

3.3. Consent to Access; Processing and Storage of your Personal Data & Identity Verification. You agree to provide us with the information we request (which we may request during registration for your Coinbase Account or at any time deemed necessary) for the purposes of identity verification, providing the Coinbase Services to you (including the establishment of applicable limits), and the detection of money laundering, terrorist financing, fraud, or any other financial crime, including as set out in Appendix 1 (Verification Procedures and Limits) and permit us to keep a record of such information. 

The information we request may include (but is not limited to) personal information such as your name, residential address, telephone number, email address, date of birth, tax file number, information regarding your bank account (such as the name of the bank, the account type, BSB number, and account number) network status, customer type, customer role, billing type, mobile device identifiers (e.g. international mobile subscriber identity and international mobile equipment identity) and other subscriber status details, and any such information that Coinbase is required to collect from time to time under applicable law.

You may also be required to undergo “Enhanced Due Diligence”, where Coinbase may request that you submit additional information about yourself or your business, provide relevant records, and arrange for meetings with Coinbase staff so that Coinbase may, among other things, establish the source of your wealth and source of funds for any transactions carried out in the course of your use of Coinbase Services.

In providing us with this or any other information that may be required, you confirm that the information is true, accurate and complete, and you have not withheld any information that may influence Coinbase’s evaluation of you for the purposes of your registration for a Coinbase Account or the provision of Coinbase Services to you. You undertake to promptly notify in writing and provide Coinbase with information regarding any changes in circumstances that may cause any such information provided to become false, inaccurate or incomplete and also undertake to provide any other additional documents, records and information as may be required by Coinbase and/or applicable law. You permit us to keep records of such information.  We will treat this information in accordance with Section 11 (Data Protection). 

You authorise us to make enquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such enquiries. When we carry out these enquiries, you acknowledge and agree that your personal information may be disclosed to fraud prevention or financial crime agencies and that these agencies may respond to our enquiries in full. Additionally, we may require you to wait some amount of time after completion of a transaction before permitting you to use further Coinbase Services and/or before permitting you to engage in transactions beyond certain volume limits.  We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process or governmental request. Further, you authorise your wireless carrier or telecommunications provider to use or disclose information about your account and your wireless or mobile device, if available, to Coinbase or its service provider for as long as you have a Coinbase Account, solely to help them identify you or your wireless or mobile device and to prevent fraud.

4. FIAT SERVICES

4.1. Loading. You may be allowed to load funds into your Fiat Wallet using bank transfer (or other payment methods available on the Site for your location), and your Fiat Wallet will show loaded funds once we have received them.  Loading of funds may be done manually, or as part of a recurring transaction that you set up on your Coinbase Account (see Section 5.13 of this Agreement for more details).  You may only load your own funds, from your own account, and not from any joint, pooled or third party account.  You will not earn interest on any fiat held in your Fiat Wallet. If available for your location, your Fiat Wallet may hold fiat denominated in different currencies and we will show the fiat balance for each currency that you hold.

4.2. Purchase or Sale of Digital Assets. You may purchase supported Digital Assets by using fiat credited to your Fiat Wallet. To carry out a Digital Assets Transaction using fiat, you must follow the relevant instructions on the Site.  A Digital Assets Transaction using fiat should normally be settled no later than one business day after we receive your instructions. You authorise us (or, where applicable, a third party financial institution with which we have partnered to process payments you have authorised) to debit fiat from your Fiat Wallet. Although we will attempt to deliver Digital Assets to you as promptly as possible, fiat may be debited from your Fiat Wallet before Digital Assets are delivered to your Digital Asset Wallet.

You may sell Digital Assets in exchange for Fiat. You authorise us (or, where applicable, a third party financial institution with which we have partnered to process payments you have authorised) to debit your Digital Asset Wallet and credit your Fiat Wallet with the relevant amount of Fiat.

Please note that you can only use your Fiat Wallet to buy and/or sell Digital Assets on the Coinbase Platform or to pay fees in accordance with this Agreement. Under no circumstances may you use your Fiat Wallet to transfer fiat to other users or third parties outside of the Coinbase Platform, or for the purposes of purchase and sale of goods and services not offered by Coinbase.

4.3. Receipt of Instructions. If we receive instructions from you to purchase Digital Assets using Fiat on a non-business day or after 4:30 pm (Australia Eastern Standard Time) on a business day, we may treat those instructions as if they were received by us on the following business day. In this Agreement, “Business Day” shall mean any day on which banks in Sydney, NSW, are open for business, other than a Saturday, Sunday or national public holidays.  The end of a Business Day shall be the end of the Business Day in Sydney, NSW.

4.4. Revocation. When you give us instructions to carry out a Digital Assets Transaction using Fiat, you cannot withdraw your consent to that Digital Assets Transaction unless the Digital Assets Transaction is not due to occur until an agreed date in the future e.g. if you have set up Future Transactions (see Section 5.13 below for more details). In the case of a Future Transaction, you may withdraw your consent up until the end of the Business Day before the date that the Future Transaction is due to take place. To withdraw your consent to a Future Transaction, follow the instructions on the Site. 

4.5. Unsuccessful Payments.  If a payment to load funds into your Fiat Wallet is not successful, you authorise Coinbase, in its sole discretion, either to cancel any related Digital Asset Transactions (defined below at Section 5.2) or to debit your other payment methods, including Coinbase balances or other linked accounts, in any amount necessary to complete the Digital Asset Transactions in question. You are responsible for maintaining an adequate balance and/or sufficient credit limits in order to avoid overdraft, or similar fees charged by your payment provider.

4.6. Account Information. You will be able to see your Fiat Wallet balance and your transaction history using the Site, including (i) the amount (and currency) of each Digital Assets Transaction, (ii) a reference to identify the payer and / or payee (as appropriate), (iii) any fees charged (including a breakdown of the fees), (iv) where there has been a currency exchange, the rate of exchange, and the amount (in the new currency) after exchange (where you are the payer) or the amount (in the original currency) before the exchange (where you are the payee), and (v) the debit or credit date of each Digital Asset Transaction (as appropriate).

4.7. Redeeming Fiat. You may redeem all or part of any Fiat held in your Fiat Wallet at any time by selecting the relevant option in the Site and following the instructions. Unless agreed otherwise, funds will be transferred to the bank account you have registered with us. If this Agreement is terminated, we will redeem any fiat remaining in your Fiat Wallet and attempt to transfer funds to the bank account you have registered with us. Prior to redeeming fiat from your Fiat Wallet, we may conduct checks for the purposes of preventing fraud, money laundering, terrorist financing and other financial crimes, and as required by applicable law. This may mean you are prevented or delayed from withdrawing fiat until those checks are completed to our reasonable satisfaction in order to comply with our regulatory requirements.

4.8. Unauthorised and Incorrect Transactions. Where a purchase of Digital Assets and / or redemption of fiat is initiated from your Fiat Wallet using your credentials, we will assume that you authorised such transaction, unless you notify us otherwise.

If you believe that a transaction using your Fiat Wallet has been carried out that you did not authorise (an “Unauthorised Transaction”), or if you have reason to believe that a transaction using your Fiat Wallet has been incorrectly carried out or is not complete (an “Incorrect Transaction”), you must contact us as soon as possible. 

It is important that you regularly check your Fiat Wallet balance and your transaction history to ensure any Unauthorised Transactions or Incorrect Transactions are identified and notified to us at the earliest possible opportunity.

During any investigation of any actual or potential Unauthorised Transactions or Incorrect Transactions, we reserve the right to suspend your Coinbase Account to avoid further losses.

4.9. Refund Rights. 

(A) Unauthorised Transactions - Fiat Wallet.

If an Unauthorised Transaction occurs in your Fiat Wallet as a result of our failure, we will refund you the amount of that transaction by no later than the end of the next Business Day after becoming aware of the Unauthorised Transaction and restore your Fiat Wallet to the state it would have been in had the Unauthorised Transaction not taken place. Generally, you will not be liable for losses incurred after you have notified us of the Unauthorised Transaction or if we have failed at any time to provide you with the means for notifying us. 

Where there is a dispute between us and you regarding whether or not a transaction is an Unauthorised Transaction, we may (but are not obliged to) temporarily credit your Fiat Wallet whilst we settle the dispute. Where we determine that the transaction was authorised, we may reverse that credit and correct errors made in any statement of Fiat Wallet without prior notice to you, although please note that during this period your Fiat Wallet may be temporarily locked to avoid further Unauthorised Transactions. You will also be liable to us (as a debt) for any Fiat you have transferred which was temporarily credited to your Fiat Wallet.

(B) Incorrect Transactions - Fiat Wallet.

Where an Incorrect Transaction is made in your Fiat Wallet as a result of our action or error we shall refund to you the amount of that transaction without undue delay and restore your Fiat Wallet to the state in which it would have been had the Incorrect Transaction not taken place. We will also endeavour to provide you with reasonable notice where possible.  We will also pay any charges for which we are responsible, and for any interest which you can show that you have had to pay as a consequence of any Incorrect Transaction. Irrespective of our liability, on your request, we shall try to trace any Incorrect Transaction initiated by you free of charge. However, we cannot guarantee that we will be able to trace such transactions.

4.10. Appointment of Regulated Third Parties. You may, as set out in Section 3.2, appoint appropriately regulated third parties to access your Fiat Wallet (“Regulated Third Parties”). If you do so, you should be aware that by virtue of such access, that Regulated Third Party may access your transactional and other data, and / or may initiate transfers from your Fiat Wallet.  You will be liable for any actions that any Regulated Third Parties take on your Coinbase Account, as further set out in Section 3.2 above.  We reserve the right to refuse access to any Regulated Third Parties, as set out in Section 4.11 below.

4.11. Refusing to deal with Regulated Third Parties. We may refuse access to Regulated Third Parties for objectively justified and duly evidenced reasons relating to unauthorised or fraudulent access to your Fiat Wallet, money laundering, terrorist financing, fraud, or any other financial crime, and as required by applicable law. In such cases, unless we are prohibited by applicable law, we will inform you that that Regulated Third Party's access has been denied and the reasons why. We will permit access again once we are satisfied that the reasons for refusing access no longer exist.

4.12. Consent. By opening a Coinbase Account with us you provide your explicit consent to us providing the Fiat Services to you. You can withdraw this consent at any time by closing your Coinbase Account. For the avoidance of doubt, this consent does not relate to our processing of your personal information or your rights under and in accordance with data protection law and regulations. Please see Section 11 (Data Protection) below and our Privacy Policy for information about how we process your personal data, and the rights you have in respect of this.

4.13. Safeguarding. Funds that are successfully loaded by users will be held by Coinbase Australia in designated Client Money Accounts (“CMAs”) opened and maintained with authorised deposit-taking institutions, banks or other duly licensed financial institutions (each, a “Safeguarding Institution”). The funds will be held by Coinbase Australia on behalf of its users and are segregated and maintained separately from Coinbase Australia’s own corporate funds. You can make a claim for your funds held in the CMAs even if Coinbase Australia becomes insolvent. Any interest earned from the funds maintained in the CMAs are payable to Coinbase Australia and will not accrue to you. Your funds in the CMAs are commingled and pooled with funds received from other users and are exposed to losses or shortfalls in the pooled funds. You acknowledge that you may not be able to recover the full value of your funds in the event of a shortfall in the pooled funds or the insolvency of the Safeguarding Institution.

You confirm and agree, including for the benefit of the Safeguarding Institutions that: (A) the CMA arrangements do not result in you being a party to any agreement with the Safeguarding Institutions, and you will have no right to enjoy or enforce any benefit under such agreement;

(B) the Safeguarding Institutions owe no obligation to you and you have no right to claim against the Safeguarding Institutions in relation to any services provided by the Safeguarding Institutions to Coinbase Australia; and

(C) your rights and obligations (if any) in relation to any services provided by Coinbase Australia to you are exclusively against or to Coinbase Australia only, and not against or to the Safeguarding Institutions.

4.14. Disclaimer. The Fiat Wallet is not a deposit, transaction, cash management or investment account which means that your funds will not be protected by the Financial Claims Scheme operated by the APRA.

5. DIGITAL ASSET SERVICES.

5.1. In General. Your Digital Asset Wallet enables you to send Supported Digital Assets to, and request, receive, and store Supported Digital Assets from, other users or third parties outside the Coinbase Platform, by giving instructions through the Site.  We recommend customers send a small amount of Supported Digital Assets as a test when sending to users or third parties outside the Coinbase Platform, before sending a significant amount of Supported Digital Assets outside the Coinbase Platform.  You may not be able to send Supported Digital Assets off the Coinbase Platform until the funds for the purchase of the Supported Digital Asset have settled to Coinbase, which in the case of fiat is usually one Business Day after we receive your instructions.

5.2. The Digital Assets Exchange Service enables you to buy Digital Assets on the Coinbase Platform using:

(A) Fiat from your Fiat Wallet; 

(B) Central bank issued currency (such as AUD) supported by Coinbase; and/or

(C) Other types of Digital Assets in your Digital Asset Wallet.

Conversely, when you sell Digital Assets on the Coinbase Platform, you may elect to receive:

(D) Fiat into your Fiat Wallet; 

(E) Central bank issued currency (such as AUD) supported by Coinbase; and/or

(F) Other types of Digital Assets in your Digital Asset Wallet.

Coinbase facilitates and enables the purchase and sale of Supported Digital Assets between its customers on the Coinbase Platform.

The transactions described in this Section 5.1, as well as transactions where you send or receive Supported Digital Assets from a third party, are collectively referred to in this Agreement as “Digital Asset Transactions”.

5.3. Fiat Currency Transactions (not using your Fiat Wallet). You may purchase Supported Digital Assets by linking a valid payment method to your Digital Asset Wallet. You authorise us to debit funds using your selected payment method(s) to complete your purchase.

Although we will attempt to deliver Supported Digital Assets to you as promptly as possible, funds may be debited from your selected payment method before the status of your Digital Asset Transaction is shown as complete, and the Supported Digital Assets is delivered to your Digital Asset Wallet. You may sell Digital Assets in exchange for fiat currency (such as AUD) supported by Coinbase. In such circumstances, you authorise us to debit your Digital Asset Wallet and to send instructions to credit your selected payment method(s) in settlement of sell transactions. We will send these instructions as soon as reasonably possible. Any fiat currency should be credited to your selected payment method(s) by the end of the Business Day after we send such instructions ​​(however this will also be subject to the settlement timeframes of your financial institution or payment provider). 

5.4. Transaction Fulfilment. We will make reasonable efforts to fulfil all purchases of Supported Digital Assets, but in some circumstances, we may be unable to. If this is the case, we will notify you and seek your approval to re-attempt the purchase at the current Exchange Rate (as defined below). 

5.5. Availability of Payment Methods. The availability of a method of payment depends on a number of factors including, for example, where you are located, the identification information you have provided to us, and limitations imposed by third party payment processors.

5.6. Conversion Fees. Each purchase or sale of Supported Digital Assets is subject to a fee and, if applicable based on the service, a spread (a "Conversion Fee").  The applicable Conversion Fee will be displayed to you on the Site prior to each transaction and is stated in each receipt we issue to you. We may adjust our Conversion Fees at any time. We will not process a transaction if the Conversion Fee and any other associated fees would, together, exceed the value of your transaction. A full list of Coinbase Australia's fees and the way fees are calculated can be found on our ‘Pricing and Fees Disclosures’ and ‘Trading Fees’ pages on the Site.

5.7. Exchange Rates. Each purchase or sale of Supported Digital Assets is also subject to the Exchange Rate for the given transaction. The "Exchange Rate" means the price of a given Supported Digital Assets in fiat currency as quoted on the Site. The Exchange Rate is stated either as a "Buy Price" or as a "Sell Price", which is the price at which you may buy or sell Supported Digital Assets, respectively. 

You acknowledge that the Buy Price Exchange Rate may not be the same as the Sell Price Exchange Rate at any given time, and that we may add a margin or ‘spread’ to the quoted Exchange Rate. You agree to accept the Exchange Rate when you authorise a transaction. You can learn more about Coinbase Australia's Exchange Rates on our ‘Pricing and Fees Disclosures’ and ‘Trading Fees’ pages on the Site. We do not guarantee the availability of any Exchange Rate. We do not guarantee that you will be able to buy and / or sell your Digital Assets on the open market at any particular price or time.

5.8. Authorisations; Reversals; Cancellations. By clicking the ‘Buy’ or ‘Sell’ button on the Site, you are authorising Coinbase to initiate the transaction at the quoted Buy Price or Sell Price and agree to any associated Conversion Fees and Exchange Fees and any other fees.

You cannot cancel, reverse, or change any transaction marked as complete or pending. If your payment is not successful or if your payment method has insufficient funds, you authorise us, in our sole discretion, either to cancel the transaction or to debit your other payment methods, including balances on your Fiat Wallet and/or Digital Asset Wallets, in any amount necessary to complete the transaction. You are responsible for maintaining an adequate balance and/or sufficient credit limits in order to avoid overdraft, insufficient funds, or similar fees charged by your payment provider.  Coinbase reserves the right to suspend access to any and all Coinbase Services until such insufficient payment is addressed.

5.9. Digital Asset Transactions. We will process Digital Asset Transactions in accordance with the instructions we receive from you. You should verify all transaction information prior to submitting instructions to us. We do not guarantee the identity of any user, receiver, requestee or other third party and we will have no liability or responsibility for ensuring that the information you provide is accurate and complete. You shall provide us with any information that we may require from time to time in relation to any Digital Assets Transaction.

Digital Asset Transactions cannot be reversed once they have been broadcast to the relevant Digital Assets network. If you initiate a Digital Assets Transaction by entering the recipient's email address or mobile phone number and the recipient does not have an existing Coinbase Account, we will invite the recipient to open a Coinbase Account. If the recipient does not open a Coinbase Account within 30 days, we will return the relevant Digital Assets to your Digital Asset Wallet. 

We may charge network fees (“miner fees”) to process a Digital Assets Transaction on your behalf. We will calculate the miner fees at our discretion, although we will always notify you of the miner fees at (or before) the time you authorise the Digital Assets Transaction. A full list of Coinbase Australia's miner fees can be found on our ‘Pricing and Fees Disclosures’ and ‘Trading Fees’ pages on the Site. Miner fees for each individual transaction will be disclosed to you at the time of purchase on the checkout page. When you or a third party sends Digital Assets to a Coinbase Digital Asset Wallet from an external wallet not hosted by Coinbase (an “Inbound Transfer“), the person initiating the transaction is solely responsible for executing the transaction properly, which may include, among other things, payment of miner fees in order for the transaction to be completed successfully and ensuring that the Digital Asset being sent is a Supported Digital Asset that conforms to the particular wallet address to which the Digital Asset is directed, including any additional address feature(s) for identifying a transaction recipient beyond a wallet address to the extent required by Coinbase or the Supported Digital Assets protocol to credit the Inbound Transfer to your Coinbase Account (e.g., a “Destination Tag/Memo”). Non-payment of miner fees may cause your transaction to remain in a pending state outside of Coinbase Australia’s control and we are not responsible for delays or loss incurred as a result of an error in the initiation of the transaction and have no obligation to assist in the remediation of such transactions.

Once submitted to a Digital Asset network, a Digital Asset Transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the Digital Asset network. A Digital Asset Transaction is not complete while it is in a pending state. Digital Assets associated with Digital Asset Transactions that are in a pending state will be designated accordingly and will not be included in your Digital Asset Wallet balance or be available to conduct Digital Asset Transactions until confirmed by the network.  

We may also refuse to process or cancel any pending Digital Asset Transaction as required by law, regulation or any court or other authority to which Coinbase is subject in any jurisdiction, for instance, if there is suspicion of money laundering, terrorist financing, fraud, or any other financial crime. 

5.10. Supported Digital Assets. Our Digital Asset Services are available only in connection with Supported Digital Assets.

Under no circumstances should you attempt to use your Digital Asset Wallet to store, send, request, or receive Digital Assets in any form that we do not support. We assume no responsibility or liability in connection with any attempt to use your Digital Asset Wallet for Digital Assets that we do not support or with regard to a Supported Digital Asset sent to an incompatible Digital Asset wallet address. If you send unsupported Digital Assets to a Coinbase Account or Supported Digital Assets to an incompatible Digital Asset wallet address, then you will lose those Digital Assets. You acknowledge and agree that Coinbase bears no responsibility and is not liable for any unsupported asset that is sent to a wallet associated with your Coinbase Account. For some lost Digital Assets, Coinbase may in its sole discretion offer you the option to attempt a recovery. We may charge fees to process the recovery attempt on your behalf. We will calculate all fees at our discretion, and notify you of the applicable fees at or before the time you authorize the recovery attempt. For more information, see our Pricing and Fees Disclosures page. The actual amount recovered may differ from the estimated recovery amount. Coinbase does not evaluate the authenticity, safety, or security of unsupported Digital Assets. You acknowledge and agree that Coinbase is not liable for any loss incurred during the recovery attempt or subsequent use of the recovered Digital Asset.

By initiating an Inbound Transfer, you attest that you are transacting in a Supported Digital Asset that conforms to the particular wallet address to which funds are directed. For example: 

• If you select an Ethereum wallet address to receive Digital Assets, you attest that you are initiating an Inbound Transfer of Ethereum alone, and not any other Digital Asset such as Bitcoin or Ethereum Classic.

• If you select a Bitcoin wallet address to receive Digital Assets, you attest that you are initiating an Inbound Transfer of Bitcoin alone, and not any other Digital Asset such as Bitcoin Cash or Ethereum.

If you have any questions about which Digital Assets we currently support, please visit https://help.coinbase.com.

5.11. Ending support of Digital Assets.  Coinbase may in its sole discretion terminate support for any Digital Asset.  Coinbase will to the extent required by applicable law provide you with the minimum period of advanced notice required by applicable law or a regulatory authority via email to the email address associated with your Coinbase Account to announce the end of such support.  If you do not sell or send such Digital Assets off the Coinbase Platform during this time, Coinbase reserves the right to withdraw such Digital Assets from your account and credit your Coinbase Account with the market value of a Supported Digital Assets or a fiat currency (which denomination will be selected in our reasonable discretion). 

5.12. USDC Wallets.  Where available, you may elect to buy USD Coin (“USDC”) from Coinbase, a Digital Asset issued by Circle Internet Financial Limited (“Circle”) and supported by Coinbase. You are the owner of the balance of your “USDC Wallet” (i.e. the Digital Asset Wallet provided to you by Coinbase Australia to hold USDC and through which Digital Asset Transactions in USDC can be carried out). Coinbase is not the issuer of USDC, does not hold reserves for USDC, and has no obligation to repurchase your USDC. You can redeem your USDC with Circle, and Coinbase may also elect to repurchase your USDC. You agree to be bound by the terms of the Circle USDC User Agreement (located at https://support.usdc.circle.com/hc/en-us/articles/360001233386-Circle-USDC-User-Agreement), which provides additional obligations, undertakings, and limitations with respect to USDC.

5.13. Recurring Digital Asset Transactions. If you initiate recurring Digital Asset Transactions (a “Recurring Transaction”), you authorise us to initiate recurring electronic payments in accordance with your selected Digital Asset Transaction and any corresponding payment accounts, such as direct debits from, or credits to, your linked bank account. This authorisation will remain in full force and effect until you change your Recurring Transaction settings at https://www.coinbase.com/recurring_payments, or until you provide us written notification at https://help.coinbase.com/en/contact-us. Your Recurring Transactions will occur in periodic instalments, based on your period selection (e.g., daily, weekly, monthly), until either you or Coinbase cancels the Recurring Transaction.  Recurring transactions scheduled for the 29th, 30th, or 31st day of a month will be processed the earlier of the date scheduled or on the last day of the applicable month. For example, recurring transactions scheduled for the 31st will be processed on the 30th in April, June, September, and November. Your recurring transaction will be executed within the 24-hour day on the transaction date. Transaction times may vary.

If you select a bank account as your payment method for a Recurring Transaction, and such transaction falls on a weekend or public holiday in the location in which the relevant bank is located, or after the relevant bank’s business hours, the credit or debit will be executed on the next business day, although the Digital Asset fees at the time of the regularly-scheduled transaction will apply. If your bank is unable to process any payment to Coinbase, we will notify you of cancellation of the transaction and may avail ourselves of remedies set forth in this Agreement to recover any amount owed to Coinbase. You agree to notify Coinbase in writing of any changes in your linked bank account information prior to a Recurring Transaction.  Coinbase may, at any time, suspend or delay recurring transactions without notice or terminate recurring transactions by providing notice to you. 

Coinbase may, at any time, terminate Future Transactions by providing notice to you.

5.14. Supplemental Protocols Excluded. Unless specifically announced on the Site, Supported Digital Assets excludes all other protocols and/or functionality which supplement or interact with the Supported Digital Asset. This exclusion includes but is not limited to: metacoins, colored coins, side chains, or other derivative, enhanced, or forked protocols, tokens, or coins or other functionality, such as staking, protocol governance, and/or any smart contract functionality, which may supplement or interact with a Supported Digital Asset (collectively, “Supplemental Protocols”). Do not use your Coinbase Account to attempt to receive, request, send, store, or engage in any other type of transaction or functionality involving any such Supplemental Protocols, as the Coinbase Platform is not configured to detect, secure, or process these transactions and functionalities. Any attempted transactions in such items will result in loss of the item. 

You acknowledge and agree that Supplemental Protocols are excluded from Supported Digital Assets and that Coinbase has no liability for any losses related to Supplemental Protocols.

5.15. Operation of Digital Asset Protocols. Coinbase does not own or control the underlying software protocols which govern the operation of Digital Assets. Generally, the underlying protocols are ‘open source’ and anyone can use, copy, modify, and distribute them. 

We assume no responsibility for the operation of the underlying protocols and we do not guarantee the functionality or security of network operations. You acknowledge and accept the risk that underlying software protocols relating to any Digital Asset you store in your Digital Asset Wallet may change.

In particular, the underlying protocols are likely to be subject to sudden changes in operating rules (including “forks”). Any such operating changes may materially affect the availability, value, functionality, and/or the name of the Digital Asset you store in your Digital Asset Wallet. Coinbase does not control the timing and features of these operating changes. It is your responsibility to make yourself aware of upcoming operating changes and you must carefully consider publicly available information and information that may be provided by Coinbase in determining whether to continue to transact in the affected Digital Asset using your Coinbase Account. In the event of any such operating change, Coinbase reserves the right to take such steps as may be necessary to protect the security and safety of assets held on the Coinbase Platform, including, without limitation, temporarily suspending operations for the involved Digital Asset(s), and other necessary steps; Coinbase will use its best efforts to provide you notice of its response to any material operating change; however, such changes are outside of Coinbase’s control and may occur without notice to Coinbase. Coinbase’s response to any material operating change is subject to its sole discretion and includes deciding not to support any new Digital Asset, fork, or other actions.

You acknowledge and accept the risks of operating changes to Digital Asset protocols and agree that Coinbase is not responsible for such operating changes and not liable for any loss of value you may experience as a result of such changes in operating rules. You acknowledge and accept that Coinbase has sole discretion to determine its response to any operating change and that we have no responsibility to assist you with unsupported Digital Assets or protocols.  You further acknowledge and accept that Coinbase has no responsibility to support new Digital Asset forks or operating changes for Digital Assets.

5.16. Digital Assets Storage & Transmission Delays. The Coinbase Group securely stores Digital Asset private keys, in a combination of online and offline storage. Our security protocols may delay the initiation or crediting of a Digital Assets Transaction.

5.17. Third party Payments. We have no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase or receive from, or sell or transfer to, any third party (including other users of the Digital Asset Services). We are not responsible for ensuring that a third party you transact with will complete the transaction or is authorised to do so. If you experience a problem with any goods or services purchased from, or sold to, any third party using Digital Assets transferred using the Digital Asset Services, or if you have a dispute with such third party, you should resolve the dispute directly with that third party.

If you believe a third party has behaved in a fraudulent, misleading, or inappropriate manner, or if you cannot adequately resolve a dispute with a third party, you may notify Coinbase Support at: trust@coinbase.com so that we may consider what action to take, if any.

5.18. Coinbase Vaults. Coinbase does not support the use of multisig vaults. You may elect to use other services, such as the Coinbase Vault, which allow you to set withdrawal time-delays and create other conditions around the custody and transfer of your Supported Digital Assets. Additional rules associated with such product(s) and service(s) may apply.  For more information on Coinbase Vaults, please visit: https://help.coinbase.com/customer/en/portal/articles/2877996-vaults-faq?b_id=13521. 

5.19. Digital Assets Title. All Supported Digital Assets held in your Digital Asset Wallet are assets held by the Coinbase Group for your benefit on a custodial basis. Among other things, this means: 

(A) Title to Supported Digital Assets shall at all times remain with you and shall not transfer to any company in the Coinbase Group. As the owner of Supported Digital Assets in your Digital Asset Wallet, you shall bear all risk of loss of such Supported Digital Assets. No company within the Coinbase Group shall have any liability for fluctuations in the fiat currency value of Supported Digital Assets held in your Digital Asset Wallet. 

(B) None of the Supported Digital Assets in your Digital Asset Wallet are the property of, or shall or may be loaned to, Coinbase; Coinbase does not represent or treat assets in a user’s Digital Asset Wallet(s) as belonging to Coinbase. Coinbase may not grant a security interest in the Supported Digital Assets held in your Digital Asset Wallet. Except as required by a facially valid court order, or except as provided herein, Coinbase will not sell, transfer, loan, hypothecate, or otherwise alienate Digital Assets in your Digital Asset Wallet unless instructed by you or compelled by a court of competent jurisdiction to do so.

(C) You control the Supported Digital Assets held in your Digital Asset Wallet. At any time, subject to outages, downtime, protocol requirements, time to conduct blockchain operations to fulfill your request, and other applicable policies, you may withdraw your Supported Digital Assets by sending them to a different blockchain address controlled by you or a third party. 

(D) In order to more securely hold Supported Digital Assets, the Coinbase Group may use shared blockchain addresses, controlled by a member of the Coinbase Group, to hold Supported Digital Assets held on behalf of customers and/or held on behalf of Coinbase Australia. Customers’ Supported Digital Assets are segregated from the Coinbase Group’s (including Coinbase Australia’s) own Digital Assets or funds by way of separate ledger accounting entries for customer and Coinbase Group accounts. Notwithstanding the foregoing, the Coinbase Group shall not have any obligation to use different blockchain addresses to store Supported Digital Assets owned by you and Supported Digital Assets owned by other customers or by the Coinbase Group.

Coinbase is under no obligation to issue any replacement Digital Assets in the event that any Digital Asset, password or private key is lost, stolen, malfunctioning, destroyed or otherwise inaccessible.

6. TRANSACTIONS LIMITS

The use of all Coinbase Services is subject to a limit on the volume, stated in AUD, USD or other fiat currency or Digital Assets, you may transact or transfer in a given period (e.g. daily). Please see Appendix 2 (Verification Procedures and Limits) for further details. To view your limits, login to your Coinbase Account and visit https://www.coinbase.com/verifications. Your transaction limits may vary depending on your payment method, verification steps you have completed, and other factors. We reserve the right to change applicable limits as we deem necessary. If you wish to raise your limits beyond the posted amounts, you may submit a request at https://help.coinbase.com.

7. SUSPENSION, TERMINATION, AND CANCELLATION. 

7.1. Suspension, Termination and Cancellation. We may: refuse to complete, or place on hold, block, cancel, correct, clawback or reverse a transaction you have authorised (even after funds have been debited from your Coinbase Account) with immediate effect in our sole discretion, even after funds have been debited from your account(s), in response to a subpoena, court order, or other government order; or if we suspect the transaction may: involve money laundering, terrorist financing, fraud, or any other type of financial crime; be erroneous; or relate to a Prohibited Use or a Prohibited Business as set forth in the Prohibited Use Policy. In such instances, Coinbase will reverse the transaction and we are under no obligation to reinstate a purchase or sale order at the same price or on the same terms as the cancelled transaction.

We may also refuse to complete or block, cancel or reverse a transaction you have authorised where there is insufficient fiat in your Fiat Wallet and / or insufficient Digital Assets in your Digital Asset Wallet to cover the transaction and (where applicable) associated fees at the time that we receive notification of the transaction or if your credit or debit card or any other valid payment method linked to your Coinbase Account or Digital Asset Wallet is declined. Coinbase may suspend, restrict, or terminate your access to any or all of the Coinbase Services, and/or deactivate or cancel your Coinbase Account(s), with immediate effect for any reason at its sole discretion and is under no obligation to disclose the details of its decision to take such action with you. You acknowledge that Coinbase's decision to take certain actions, including limiting access to, suspending, or closing your account for any reason in our sole discretion, may be based on confidential criteria that are essential to Coinbase's risk management and security protocols. You agree that Coinbase is under no obligation to disclose the details of its risk management and security procedures to you.

7.2. On termination of this Agreement for any reason, you will be permitted to transfer Supported Digital Assets or funds associated with your hosted Digital Asset Wallet(s) and/or your Fiat Wallet for ninety (90) days after Account deactivation or cancellation unless such transfer is otherwise prohibited (i) under applicable law, including but not limited to applicable sanctions programs; or (ii) by a facially valid subpoena or court order. You are not permitted to use the Coinbase Services or your Coinbase Account for any other purposes during these periods and we may, at our discretion, limit the functionality of the Coinbase Platform or access to the Site for you accordingly. 

7.3. If we suspend or close your Coinbase Account or terminate your use of Coinbase Services for any reason, we reserve the right to require you to re-complete the procedures outlined at Section 3.3 (Identity Verification) before permitting you to transfer or withdraw Supported Digital Assets or fiat. You may cancel your Coinbase Account at any time by visiting: https://www.coinbase.com/settings/cancel. You will not be charged for cancelling your Coinbase Account, although you will be required to pay any outstanding amounts owed to us. You authorise us to cancel or suspend any pending transactions at the time of cancellation.

7.4. Coinbase may discontinue or change any product, service, or feature, in its sole discretion, at any time. You agree that we may transfer you to a product or service that is reasonably similar to the discontinued or changed product or service, to the extent such product or service exists. We will provide you with prior notice of material changes, discontinuation, or the transfer related to a product, service, or feature, to the extent required or applicable.

8. LIABILITY

8.1. Release of Coinbase. If you have a dispute with one or more users of the Coinbase Services (other than Coinbase), you agree that neither we nor our affiliates or service providers, nor any of our respective officers, directors, agents, joint venturers, employees and representatives, will be liable for any claims, demands or damages (actual and consequential, direct or indirect) of any kind or nature arising out of or in any way connected with such disputes. 

8.2. Indemnification. You agree to indemnify us, our affiliates and service providers, and each of our, or their, respective officers, directors, agents, employees and representatives, in respect of any costs (including legal fees and any fines, fees or penalties imposed by any regulatory authority) that have been reasonably incurred in connection with any claims, demands or damages arising out of or related to your breach and / or our enforcement of this Agreement (including without limitation your breach of our Prohibited Use Policyor your violation of any law, rule or regulation, or the rights of any third party.

8.3. Limitation of Liability.  Coinbase’s total aggregate liability to you for any individual claim or series of connected claims for losses, costs, liabilities or expenses which you may suffer arising out of, or in connection with, any breach by Coinbase of this Agreement shall be limited to a maximum aggregate value of the combined value of the Supported Digital Assets and fiat on deposit in your Fiat Wallet and your Digital Asset Wallet at the time of the relevant breach by Coinbase giving rise to your claim. Where we are considering a specific claim relating to a specific transaction this sum shall be further limited to the purchase / sale amount (as relevant) of the transaction in dispute.

8.4. Limitation of loss. In addition to the liability cap at Section 8.3 (Limitations of Liability) above, in no event shall we, our affiliates or service providers, or any of our or their respective officers, directors, agents, employees or representatives, be liable for any of the following types of loss or damage arising under or in connection with this Agreement or otherwise:

(A) any loss of profits or loss of expected revenue or gains, including any loss of anticipated trading profits and / or any actual or hypothetical trading losses, whether direct or indirect, even if we are advised of or knew or should have known of the possibility of the same; or any damages arising out of or relating to Digital Assets that are not Supported Digital Assets. This means, by way of example only (and without limiting the scope of the preceding sentence), that if you claim that we failed to process a Digital Asset Transaction properly, your damages are limited to no more than the lesser of the combined total value of the Supported Digital Assets and fiat at issue in the transaction, or the combined total value of the Supported Digital Assets and fiat on deposit in your Coinbase Account(s), and that you may not recover for any "loss" of anticipated trading profits or for any actual trading losses made as a result of the failure to buy or sell the Supported Digital Assets; 

(B) any loss of, or damage to, reputation or goodwill; any loss of business or opportunity, customers or contracts; any loss or waste of overheads, management or other staff time; or any other loss of revenue or actual or anticipated savings, whether direct or indirect, even if we are advised of or knew or should have known of the possibility of the same; 

(C) any loss of use of hardware, software or data and / or any corruption of data; as well as and including but not limited to any losses or damages arising out of or relating to any inaccuracy, defect or omission of Digital Asset price data; any error, delay or interruption in the transmission of such data; viruses or other malicious software obtained by accessing our websites, software, systems operated by us or on our behalf or any of the Coinbase Services or any website or services linked to our websites; glitches, bugs, errors, or inaccuracies of any kind in our websites, software, systems operated by us or on our behalf or any of the Coinbase Services; suspension or other action taken with respect to your Coinbase Account; and

(D) any loss or damage whatsoever which does not arise directly as a result of our breach of this Agreement (whether or not you are able to prove such loss or damage).

8.5. Applicable law. The limitation of liability in this Section 8 (Liability) is subject to any obligations that we have under applicable law and regulation, including our obligation to exercise reasonable care and skill in our provision of the Coinbase Services, as well as any rights you may have under consumer protection laws against providers of goods and services (including the Australian Consumer Law set out in Schedule 2 of the Competition and Consumer Act 2010 (Cth) (“Consumer Law”). Nothing in this Agreement shall limit our liability resulting from our fraud or fraudulent misrepresentation, gross negligence, deliberate misconduct, for death or personal injury resulting from either our or our subcontractors’ negligence.

8.6. No Warranties. The Coinbase Services, Coinbase Platform and Site are provided on an "as is" and "as available" basis, with no further promises made by us around availability of the Coinbase Services. Specifically, we do not give any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement. We do not make any promises that access to the Site, any of the Coinbase Services, or any of the materials contained therein, will be continuous, uninterrupted, timely, or error-free.

Any materials, information, view, opinion, projection or estimate presented via the Site is made available by Coinbase for informational purposes only, and is subject to change without notice. You must make your own assessment of the relevance, timeliness, accuracy, adequacy, commercial value, completeness and reliability of the materials, information, view opinion, projection or estimate provided on the Site and/or the Site. Accordingly, no warranty whatsoever is given by Coinbase and no liability whatsoever is accepted by Coinbase for any loss arising whether directly or indirectly as a result of you acting on any materials, information, view, opinion, projection or estimate provided in or made available through the Site and/or the Site.

The Coinbase Services, Coinbase Platform and Site are not intended to provide specific investment, tax or legal advice or to make any recommendations about the suitability of any investments or products for any particular investor, nor do they constitute financial product advice or any offer, solicitation, recommendation or invitation to buy, sell or deal in any way with any Digital Asset or any financial product (as defined under the Corporations Act. You should seek your own independent financial, legal, regulatory, tax or other advice before using our Services. In the event that you choose not to seek advice from a relevant adviser, you should consider whether the Services are suitable for you.

We will make reasonable efforts to ensure that Digital Asset Transactions, requests for debits and credits involving Digital Asset Wallets, Fiat Wallets, bank accounts, debit (or, where available, credit) cards are processed in a timely manner but Coinbase makes no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control. We will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, debit  (or, where available, credit) cards, and cheque issuances are processed in a timely manner, but we make no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control.

Except for the express statements set forth in this Agreement, you hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or oral, with respect to your use and access of the Coinbase Services and Site. This Section 8.6 (No warranties) is subject to any obligations that are applicable to us under Consumer Law.

8.7. No Liability for Breach. We are not liable for any breach of the Agreement, including delays, failure in performance or interruption of service, where they arise directly or indirectly from abnormal and unforeseeable circumstances beyond our control, the consequences of which would have been unavoidable despite all effects to the contrary, nor are we liable where the breach is due to the application of mandatory legal rules.

8.8. Status of Digital Assets. In Australia, some Digital Assets may be considered securities or other regulated financial products. We do not support any Digital Assets which we become aware are regulated financial products in Australia and we will promptly cease supporting any Digital Assets which may trigger licensing or disclosure obligations for us. By using the Coinbase Services, you represent and warrant that any Digital Asset which you purchase, sell or otherwise deal with is not a financial product for the purposes of the Corporations Act and you disclaim all rights or remedies in relation to any licensing or disclosure obligations that may become applicable to us under the Corporations Act.

9. SITE AVAILABILITY AND ACCURACY  

9.1. Access & Availability. Access to Coinbase Services may become degraded or unavailable during times of significant volatility or volume. This could result in limitations on access to your Coinbase Account or the Coinbase Services, including the inability to initiate or complete transactions and may also lead to support response time delays. 

(A) Although we strive to provide you with excellent service, we do not guarantee that the Site or other Coinbase Services will be available without interruption and we do not guarantee that any order will be executed, accepted, recorded, or remain open or that your Coinbase Account will be accessible.

(B) Please note that our customer support response times may be delayed, including during times of significant volatility or volume, especially for non-trust and safety issues.

Subject to applicable Consumer Law, under no circumstances shall Coinbase be liable for any alleged damages from or arising out of service interruptions, delays in processing transactions, inability to execute transactions, or lack of timely response from Coinbase customer support.  For example, if you are locked out of your Coinbase Account, it is possible that the price of Digital Assets in your account might go down before your access is restored.  Coinbase shall not be liable for any alleged losses that you suffer from a drop in Digital Asset prices. 

9.2. Website Accuracy. Although we intend to provide accurate and timely information on the Site, the Site (including, without limitation, the Content (as defined below)) may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors.

In an effort to continue to provide you with as complete and accurate information as possible, information may, to the extent permitted by applicable law, be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the Site are your sole responsibility and we shall have no liability for such decisions. 

Links to third party materials (including without limitation any websites) may be provided as a convenience but are not controlled by us. You acknowledge and agree that we are not responsible for any aspect of the information, content, or services contained in any such third party materials accessible or linked to from the Site.

10. CUSTOMER FEEDBACK, QUERIES, COMPLAINTS, AND DISPUTE RESOLUTION

10.1. Contact Coinbase. If you have any feedback, questions, or complaints, contact us via our ‘Customer Support’ webpage at https://help.coinbase.com. 

10.2. Complaints. If you have a complaint with Coinbase, you agree to first contact our support team to attempt to resolve such complaint.  If we cannot resolve the dispute through our support team, you and we agree to use the complaints process set out in this Section 10.2.  You agree to use this process before commencing any action as set out in Section 10.4.  If you do not follow the procedures set out in this Section 10.2 before pursuing an action under Section 10.4, we shall have the right to ask the relevant court/authority to dismiss your action/application unless and until you complete the following steps.

In the event of a complaint which has not been resolved through your contact with Coinbase Customer Support, please use our complaint form to set out the cause of your complaint, how you would like us to resolve the complaint and any other information you believe to be relevant. The complaint form can be found on the Coinbase support pages, help.coinbase.com or can be requested from Coinbase Customer Support. We will acknowledge receipt of your complaint form after you submit it. The complaints process set out in this Section 10.2 is completed when Coinbase responds to your complaint or forty-five (45) Business Days after the date we receive your complaint, whichever occurs first.

Any offer of resolution made to you will only become binding on us if accepted by you. An offer of resolution will not constitute any admission by us of any wrongdoing or liability regarding the subject matter of the complaint. 

10.3. If we have not been able to resolve your complaint via the complaint process set out in Section 10.2 above, you may escalate your complaint via the dispute processes set out in Section 10.4 below as applicable to you.

10.4. You agree that you shall not commence any of the dispute processes set out in this Section 10.4 below in relation to the whole or part of your complaint until the complaint process set out in Section 10.2 has been completed, although nothing in Section 10.2 or in this Section 10.4 shall be construed as preventing either party from seeking conservatory or similar interim relief in any court of competent jurisdiction: Any complaints, claims, disagreements or disputes arising out of or in connection with this Agreement or relating in any way to your access to or use  of the Coinbase Services, the Coinbase Platform or the Site, any Communications you receive, any products sold or distributed through the Coinbase Services, the Coinbase Platform, the Site or this Agreement and prior versions of this Agreement, including claims and disputes that arose between us before the effective date of these terms, that cannot be resolved via the complaint process set out in Section 10.2 above, may be adjudicated by a court of competent jurisdiction located in New South Wales, Australia. You agree to submit to the non-exclusive jurisdiction of the courts of New South Wales.

11. DATA PROTECTION

11.1 Personal Data. You acknowledge that we may process personal data (including personal information, as defined in the Privacy Act 1988 (Cth) (“Privacy Act”)) in relation to you (if you are an individual), and personal data that you have provided (or in the future provide) to us in relation to your employees and other associated individuals (if you are not an individual), in connection with this Agreement, or the Coinbase Services. We will process this personal data in accordance with the Privacy Policy, which shall form part of this Agreement. Accordingly, you represent and warrant that:

(A) your disclosure to us of any personal data relating to individuals other than yourself was or will be made in accordance with all applicable data protection and data privacy laws (including the Privacy Act), and such data are accurate, up to date and relevant when disclosed; 

(B) before providing any such personal data to us, you acknowledge that you have read and understood our Privacy Policy, a copy of which is available here: Privacy Policy, and, in the case of personal data relating to an individual other than yourself, have (or will at the time of disclosure have) provided the individual with a copy of, or directed the individual towards a webpage containing that Privacy Policy (as amended from time to time); and 

(C) if from time to time we provide you with a replacement version of the Privacy Policy, you will promptly read that notice and provide updated copies of the Privacy Policy to, or re-direct towards a webpage containing the updated Privacy Policy, any individual whose personal data you have provided to us.

12. SECURITY

12.1. Password Security. In order to access Coinbase Services, you will be required to create or will be given security details, including a username and password. You are responsible for keeping the electronic device through which you access Coinbase Services safe and maintaining adequate security and control of any and all security details that you use to access the Coinbase Services. This includes taking all reasonable steps to avoid the loss, theft or misuse of such electronic device and ensuring that such electronic device is both encrypted and password protected. 

Any loss or compromise of your electronic device or your security details may result in unauthorised access to your Coinbase Account by third-parties and the loss or theft of any fiat, Digital Assets and/or funds held in your Coinbase Account and any associated accounts, including your linked bank account(s) and any credit/debit card(s). You must keep your security details safe at all times. For example, you should not write them down or otherwise make them visible to others.

You should never allow remote access or share your computer and/or computer screen with someone else when you are logged on to your Coinbase Account. Coinbase will never under any circumstances ask you for your passwords, or two-factor authentication codes or to screen share or otherwise seek to access your computer or account. You should not provide your details to any third party for the purposes of remotely accessing your account unless specifically authorised in accordance with Sections 3.2 and 4.10. Always log into your Coinbase Account through the Site to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.  

We assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of Coinbase. We further assume no responsibility for your failure to follow the requirements set out in this Section 12.1, or follow or act on any notices or alerts that we may send to you. 

12.2. Authentication and Verification. In order to access Coinbase Services users are required to provide an email address and create a password. Coinbase offers two-factor authentication via a user’s mobile device (Short Message Service (“SMS”) or a supported Time-based One Time Password application. A verified phone number is required to enable two-factor authentication via SMS. Users are responsible for keeping electronic devices through which Coinbase Services are accessed safe and maintaining adequate security and control of any and all security details that are used to access the Coinbase Services. This includes taking all reasonable steps to avoid the loss, theft or misuse of said electronic devices and ensuring that said electronic devices are password protected. Any loss or compromise of personal electronic devices or security details may result in unauthorised access of a user’s Coinbase Account by third parties and the loss or theft of any fiat, Digital Assets and/or funds held in your Coinbase Account and the misuse of any associated accounts, including linked bank account(s) and any credit/debit card(s).

12.3. Security Breach. If you suspect that your Coinbase Account or any of your security details have been compromised or if you become aware of any fraud or attempted fraud or any other security incident (including a cyber-security attack) affecting you and / or Coinbase (collectively, a “Security Breach”), you must:

(A) notify Coinbase Support immediately by email free of charge at: trust@coinbase.com, or by calling us on: +1 (888) 908 7930 (international charges may apply); 

(B) provide accurate and up to date information throughout the duration of the Security Breach; and

(C) take any steps that we reasonably require to reduce or manage any Security Breach.

Prompt reporting of a Security Breach does not guarantee that Coinbase will reimburse you for any losses suffered or be liable to you for any losses suffered as a result of the Security Breach.

12.4. Safety and Security of Your Computer and Devices. Coinbase is not liable for any damage or interruptions caused by any computer viruses or other malicious code that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from us.

13. GENERAL

13.1. Your Compliance with Applicable Law. You must comply with all applicable laws, regulations, licensing requirements and third party rights (including, without limitation, data privacy laws, sanctions, and anti-money laundering and countering the financing of terrorism laws) in your use of the Coinbase Services, the Coinbase Platform and the Site.

13.2. Limited Licence.  All content included in or made available through the Coinbase Services, the Site or any related content materials and information such as text, graphics, logos, button icons, images, audio clips, digital downloads, data compilations, and software (“Content”) is the property of the Coinbase Group or its content providers and protected by United States and international copyright and intellectual property law.  We grant you a limited, non-exclusive, non-transferable licence, subject to the terms of this Agreement, to access and use the Coinbase Services, the Site, and Content solely for approved purposes as permitted by us from time to time. Any other use of the Coinbase Services, the Site or Content is expressly prohibited and all other right, title, and interest in the Site or Content is exclusively the property of Coinbase and its licensors.  You agree not to copy, transmit, distribute, sell, licence, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the Content, in whole or in part. 

"Coinbase.com", and the following non-exhaustive list, including COINBASE, COINBASE Logo, C Logo, COINBASE EXCHANGE, COINBASE PRO, ROSETTA, COSTA, SKEW, TOSHI, COINBASE ONE, and BISON TRAILS; and without limitation, any graphics, logos, button icons, and service names included in or made available through any Content, and all logos related to the Coinbase Services or displayed on the Site are trademarks or trade dress of Coinbase or its licensors in the United States and other countries. You may not copy, imitate or use them without our prior written consent for any purpose, including, without limitation, in connection with any product or service that is not authorised by Coinbase; any manner that is likely to cause confusion among customers; or a way that disparages or discredits Coinbase.

13.3. Export Controls & Sanctions. Your use of the Coinbase Services and the Site is subject to applicable law including but not limited to export restrictions, end-user restrictions, antiterrorism laws, and economic sanctions. By sending, receiving, buying, selling, trading or storing Digital Assets through the Site or Coinbase Services, you agree that you will comply with all applicable law. You are not permitted to acquire Digital Assets or use any of the Coinbase Services through the Site if doing so would, directly or indirectly, violate applicable law, which include but are not limited to those promulgated by the Australian Government Department of Foreign Affairs and Trade, the United Nations Security Council, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”, including but not limited to the Specially Designated Nationals (“SDN”) List and other non-SDN restricted or blocked parties lists), the European Union, the United Kingdom, and/or any other applicable national, regional, provincial, state, municipal or local laws and regulations (each as amended from time to time).

You further hereby represent, warrant and undertake to Coinbase that you are purchasing Digital Assets with funds which are from legitimate sources and which do not constitute the proceeds of criminal conduct, or realisable property, or the proceeds of money laundering or terrorism financing or property of terrorists for the purposes of the AML/CTF Act and which are not derived from or related to any unlawful activities. You further undertake not to use the Digital Assets to finance, engage in, or otherwise support any unlawful activities.

13.4. Relationship of the Parties. Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you or Coinbase, or authorise you to act as an agent of Coinbase.

13.5. Privacy of Others. If you receive information about another user through the Coinbase Services, you must keep the information confidential and only use it in connection with the Coinbase Services. You may not disclose or distribute a user’s information to a third party or use the information except as reasonably necessary to carry out a transaction and other functions reasonably incidental thereto such as support, reconciliation and accounting unless you receive the user’s express consent to do so. You may not send unsolicited communications to another user through the Coinbase Services.

13.6. Contact Information. You are responsible for keeping your contact details (including your email address and telephone number) up to date in your Coinbase Account profile in order to receive any notices or alerts that we may send to you (including notices or alerts of actual or suspected Security Breaches). Please see Appendix 2 for more detail in relation to how we will communicate with you. 

13.7. Taxes. The tax treatment of Digital Asset Transactions is uncertain, and it is your responsibility to determine what taxes, if any, arise from transactions using Coinbase Services under this Agreement. Users are solely responsible for reporting and paying any applicable taxes arising from transactions using Coinbase Services, and acknowledge that Coinbase does not provide investment, legal, or tax advice governing these transactions. You understand that Coinbase may report information with respect to your transactions, payments, transfers, or distributions made by or to you with respect to your activities using Coinbase Services to a tax or governmental authority to the extent such reporting is required by applicable law. Coinbase also shall withhold taxes applicable to your transactions or to payments or distributions made or deemed made to you to the extent such withholding is required by applicable law. From time to time, Coinbase shall ask you for tax documentation or certification of your taxpayer status as required by applicable law, and any failure by you to comply with this request in the time frame identified may result in withholding and/or remission of taxes to a tax authority as required by applicable law. You should conduct your own due diligence and consult your own tax advisors before making any decisions with respect to Digital Asset Transactions. 

13.8. Unclaimed Property. If we hold fiat or Supported Digital Assets on your behalf, and have no record of your use of the Coinbase Services for several years and are unable to contact you, applicable law may require us to deliver any such fiat or Supported Digital Assets to the authorities in certain jurisdictions. We reserve the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.

13.9. Death of Account Holder.  For security reasons, if we receive legal documentation confirming your death or other information leading us to believe you have died, we will freeze your Coinbase Account and during this time, no transactions may be completed until: (i) your designated executor / trustee has opened a new Coinbase Account or informed Coinbase about another, existing, Coinbase Account in their name, as further described below, and the entirety of your Coinbase Account has been transferred to such new account, or (ii) we have received proof in a form satisfactory to us that you have not died. If we have reason to believe you may have died but we do not have proof of your death in a form satisfactory to us, you authorise us to make inquiries, whether directly or through third parties, that we consider necessary to ascertain whether you have died. Upon receipt by us of proof satisfactory to us that you have died, in order to gain access to the contents your Coinbase Account, the executor / trustee you have designated in a valid will or similar testamentary document will be required to open a new Coinbase Account or inform Coinbase of another, existing Coinbase Account in their name to which the entirety of the funds in your Coinbase Account shall be transferred. If you have not designated an executor / trustee, then we reserve the right to (i) treat as your executor / trustee any person entitled to inherit your Coinbase Account, as determined by us upon receipt and review of the documentation we, in our sole discretion, deem necessary or appropriate, including (but not limited to) a will or similar document, or (ii) require an order designating an executor / trustee from a court having competent jurisdiction over your estate. In the event we determine, in our sole discretion, that there is uncertainty regarding the validity of the executor / trustee designation, we reserve the right to require an order resolving such issue from a court of competent jurisdiction before taking any action relating to your Coinbase Account.

13.10. Entire Agreement. This Agreement (including documents incorporated by reference herein) comprise the entire understanding and agreement between you and Coinbase as to the subject matter hereof, and it supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Agreement), and every nature between and among you and Coinbase.

13.11. Interpretation. Section headings in this Agreement are for convenience only and shall not govern the meaning or interpretation of any provision of this Agreement. 

13.12. Transfer and Assignment. This Agreement is personal to you and you cannot transfer or assign your rights, licenses, interests and/or obligations to anyone else. We reserve the right to assign our rights without restriction (except to the extent of any notice requirement under applicable law), including without limitation to any Coinbase affiliates or subsidiaries, or to any successor in interest of any business associated with the Coinbase Services.  In the event that Coinbase is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control. You reserve the right to terminate the agreement with immediate effect in the event we transfer and/or assign the Agreement.  Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.  

13.13. Security Interests. You must not create security over your fiat or Digital Assets unless you have obtained our prior approval in writing.

13.14. Invalidity. If any provision of this Agreement is determined to be invalid or unenforceable under any applicable law, this will not affect the validity of any other provision. If any provision is found unenforceable, the unenforceable provision will be severed, and the remaining provisions will be enforced.

13.15. Enforcement of Our Rights. We may not always strictly enforce our rights under this Agreement. If we do choose not to enforce our rights at any time, this is a temporary measure and we may enforce our rights strictly again at any time.

13.16. Language. This Agreement and any information or notifications that you or we are to provide should be in English. Any translation of this Agreement or other documents is provided for your convenience only and may not accurately represent the information in the original English. In the event of any inconsistency, the English language version of this Agreement or other documents shall prevail. 

13.17. Change of Control.  In the event that Coinbase is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you and our relationship with you (including this Agreement) as part of such merger, acquisition, sale, or other change of control.

13.18. Survival. All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including, without limitation, the Sections relating to suspension or termination, Coinbase Account cancellation, debts owed to Coinbase, general use of the Coinbase Platform or Site, disputes with Coinbase, and general provisions will continue to be binding and operate after the termination or expiration of this Agreement.

13.19. Governing Law. This Agreement and the relationship between us shall be governed by the laws of New South Wales, Australia.

APPENDICES

Appendix 1: VERIFICATION PROCEDURES AND LIMITS

Coinbase uses multi-level systems and procedures to collect and verify information about you in order to protect Coinbase and the community from fraudulent users, and to keep appropriate records of Coinbase's customers. Your access to one or more Coinbase Services or the Coinbase Platform, and limits imposed on your use of Coinbase Services (including but not limited to daily or weekly conversion limits, deposit, withdrawal and trading limits for Coinbase Pro and/or Advanced Trading, instant buy limits, Digital Asset Wallet transfer limits, and limits on transactions from a linked payment method), and any changes to such limits from time to time,  may be based on the identifying information and/or proof of identity you provide to Coinbase. 

Coinbase may require you to provide or verify additional information, or to wait some amount of time after completion of a transaction, before permitting you to use any Coinbase Services and/or before permitting you to engage in transactions beyond certain volume limits. You may determine the volume limits associated with your level of identity verification by visiting your account's ‘Limits’ page on the Site. 

You may submit a request at https://help.coinbase.com to request larger limits. Coinbase will require you to submit to Enhanced Due Diligence. Additional fees and costs may apply, and Coinbase does not guarantee that we will raise your limits.

Appendix 2: COMMUNICATIONS

1. Electronic Delivery of Communications. You agree and consent to receive electronically all communications, agreements, documents, notices and disclosures (collectively, "Communications") that we provide in connection with your Coinbase Account and your use of Coinbase Services. Communications include:

(A) terms of use and policies you agree to (e.g. the Agreement and Privacy Policy), including updates to these agreements or policies; 

(B) account details, history, transaction receipts, confirmations, and any other account or transaction information; 

(C) legal, regulatory, and tax disclosures or statements we may be required to make available to you; and

(D) responses to claims or customer support inquiries filed in connection with your Coinbase Account.

Unless otherwise specified in this Agreement, we will provide these Communications to you by posting them on the Site, emailing them to you at the primary email address listed in your Coinbase Account, communicating to you via instant chat, and/or through other electronic communication such as text message or mobile push notification, and you agree that such Communications will constitute sufficient notice of the subject matter therein.

2. How to Withdraw Your Consent. You may withdraw your consent to receive Communications electronically by contacting us at: https://help.coinbase.com. If you fail to provide or if you withdraw your consent to receive Communications in the specified manner, Coinbase reserves the right to immediately close your Coinbase Account or charge you additional fees for paper copies of the Communications.

3. Updating your Information. It is your responsibility to provide us with a true, accurate and complete email address and your contact information, and to keep such information up to date. You understand and agree that if Coinbase sends you an electronic Communication but you do not receive it because your primary email address you have provided is incorrect, out-of-date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Coinbase will be deemed to have provided the Communication to you.

You may update your information by logging into your Coinbase Account and visiting settings or by contacting our support team at: https://help.coinbase.com.

Appendix 3: ADDITIONAL SERVICES

1. Staking Rewards Services

1.1. General. Some Supported Digital Assets that you hold with Coinbase Australia may, as part of the underlying operation of the protocol of the Supported Digital Asset, “reward” participants with additional Digital Assets when they contribute to the network.  Please visit our staking information page for further details on how staking rewards work. Staking rewards services are not available for Supported Digital Assets held on Coinbase Pro. By using these staking rewards services you accept the terms for such services as set out in this Section 1 to this Appendix 3.

1.2. Staking Rewards Service is Optional and Does Not Affect Ownership. Staking rewards services may be made available to you by default for some or all of your Supported Digital Assets where staking functionality is available from Coinbase Australia. YOU ARE NOT REQUIRED TO STAKE WITH COINBASE AUSTRALIA AND YOU CAN REQUEST TO UNSTAKE AT ANY TIME. FOR MORE INFORMATION VISIT THE HELP CENTRE. If you choose to stake, Coinbase will perform blockchain operations involving your digital assets as described below. This instruction to stake your digital assets does not affect the ownership of your digital assets in any way. For the avoidance of doubt, the provisions for Digital Asset Custody and Title described in Section 5.19(C) above apply whether or not a digital asset is staked.

Beginning 17:00 UTC on March 22, 2023, staking services will not be enabled by default for any new digital asset balances you purchase on or transfer to Coinbase. Your existing staking balances held as of March 22, 2023 will remain staked until you instruct us to unstake them as described in Section 1.5 below.

1.3. The Service; Rewards; Commission; Limitations. If you stake Supported Digital Assets, you may earn rewards granted by the relevant Supported Digital Asset network. Coinbase Australia’s role in relation to staking rewards services is limited to providing you with access to such networks on a direct pass-through basis and, in some circumstances, providing administration services related to you accessing such networks. In all circumstances, you will be taken to be dealing with the relevant Supported Digital Asset network directly on your own behalf. Coinbase Australia does not provide any services on behalf of any Supported Digital Asset network to you and has no control over the operation of such networks or any rewards which may accrue to you. Depending on the protocol, there may be a delay before your assets are eligible to participate in the transaction validation process and earn rewards. If the Supported Digital Asset network distributes any rewards in unstaked form, Coinbase Australia will use commercially reasonable efforts to restake those rewards. You may request to unstake your accrued rewards at any time as described in Section 1.5 below. Rewards will be credited to your account by taking into account the amount of your principal and previously accrued rewards that remain staked with Coinbase. Coinbase Australia may display performance data associated with rewards accruing to you, however Coinbase Australia is not responsible for any such performance or rewards (including the accuracy of any data). Coinbase Australia may take a fee or commission from you for providing the access service, which may be deducted from rewards that accrue to you. The current commission for each staking asset can be found in the Help Centre. Coinbase Australia may change these published commissions at any time, including after your assets have been staked. Coinbase may also offer lower commissions for certain assets on a promotional basis, and these promotional commissions may differ among Coinbase users. You will be notified if you receive a promotional commission offer.

1.4. Slashing. Some Digital Assets networks subject staked assets to “slashing” if the transaction validator representing those assets incorrectly validates a transaction. Coinbase will use commercially reasonable efforts to prevent any staked assets from slashing; however, in the event they are, unless otherwise provided in this Agreement, Coinbase will promptly replace your assets at no additional cost.

Effective 17:00 UTC on March 29, 2023, Coinbase will use commercially reasonable efforts to prevent any staked assets from slashing; however, in the event they are, Coinbase will replace your assets so long as such penalties are not a result of: (i) protocol-level failures caused by bugs, maintenance, upgrades, or general failure; (ii) your acts or omissions; (iii) acts or omissions of any third party service provider; (iv) an event qualifying under Section 8.7 of the User Agreement; (v) acts by a hacker or other malicious actor; or (vi) any other events outside of Coinbase’s reasonable control.

1.5. Protocol Lockups and Unstaking. Some Digital Asset networks require that a certain amount of staked assets be locked (restricted from sale or transfer) for a certain period of time while staking. In some cases, withdrawal of staked assets may be delayed as a result of protocol unstaking periods or network conditions.

Beginning 17:00 UTC on March 29, 2023, you will need to request for your staked assets to be unstaked before they can be sold or transferred. When you request to unstake, Coinbase will take blockchain operations on your behalf to wind-down your assets’ participation in the validation process of the relevant protocol. These blockchain operations may take up to 48 hours to complete, in addition to any applicable protocol unstaking period. Depending on the protocol, you may or may not receive staking rewards during the unstaking process. Expected unstaking periods are estimates only. We will notify you when the unstaking process is complete.

1.6. No Guarantee of Rewards. Your rewards (if any) will be determined by the protocols of the applicable Supported Digital Asset network, not Coinbase Australia.  In some circumstances, Supported Digital Asset networks may provide you with rewards by you holding Supported Digital Assets, even if you do not stake them.  You have no right to a reward until it is received by Coinbase Australia. Rewards will be distributed to your account promptly after they are received by Coinbase Australia.

Unless otherwise specified, the “staking rewards rate” disclosed by Coinbase for a particular Supported Digital Asset is an annualized historical rate based on the staking rewards generated by Coinbase in providing staking services to Coinbase customers for that Supported Digital Asset, minus our commission. This rate is an estimate and may change over time. COINBASE AUSTRALIA DOES NOT GUARANTEE THAT YOU WILL RECEIVE STAKING REWARDS, ANY SPECIFIC STAKING REWARD, OR ANY STAKING RETURN OVER TIME.

1.7. Governance and Voting. For certain Digital Assets, the underlying protocols offer stakers the ability to vote on matters related to the governance of protocol-level issues. Coinbase may or may not support voting for such assets, and may cease supporting voting at any time in its discretion. Coinbase will comply with your instruction to vote your Supported Digital Assets to the extent Coinbase or its affiliate supports voting for such Supported Digital Assets in your jurisdiction. In certain cases, Coinbase may vote on your behalf where Coinbase or the applicable protocol does not support delegated voting; in those instances, Coinbase will vote with the protocol’s recommendation.

1.8. Tax. The tax treatment of certain Digital Asset Transactions is uncertain, and it is your responsibility to determine what taxes, if any, arise from these transactions. Users are solely responsible for reporting and paying any applicable taxes arising from staking and all related transactions, and acknowledge that Coinbase Australia does not provide investment, legal, or tax advice to you in connection with such elections to participate. You should conduct your own due diligence and consult your advisors before making any decision including whether to participate in staking rewards and related transactions. 

1.9. Ethereum Staking.  Supplemental to the terms outlined above, the following terms apply to staking your ETH through the Coinbase Australia staking services. In the event of a conflict between the terms contained in this section and anything else in this Agreement, the terms in this section will govern:

   1. Eligibility. Users who wish to stake ETH through Coinbase Australia must meet certain requirements, as set forth here.  These requirements are subject to change.

   2. Lockup Period. If you choose to stake your ETH, your ETH will be pledged for staking and will become locked on the Ethereum protocol until Phase 1.5 of the Ethereum network upgrade is completed.  Coinbase Australia has no control over the duration of or end date for the lockup period, which will ultimately be determined by the success of the update to the Ethereum network.  Unlike other staking services provided through Coinbase Australia, you will be unable to “Opt Out” of ETH staking once you’ve staked your assets.  Coinbase Australia will not refund or replace any ETH you wish to unstake.  Unless otherwise stated on the Coinbase Australia interface or provided below, you will not be able to trade, transfer or otherwise access your staked ETH during the lockup period.  

    3. No Guarantee of Success of Network Upgrade.  Coinbase Australia makes no guarantees that the upgrade to the Ethereum network will be successful, and you understand that if the network upgrade ultimately fails, you may lose all, or a portion of, your staked ETH.  Coinbase Australia will not be responsible for any ETH lost due to a network upgrade failure.  

    4. Ethereum Staking Rewards.  Any rewards earned while staking your ETH through Coinbase Australia will, unless otherwise stated, remain locked onchain until Phase 1.5 of the Ethereum network upgrade is completed.  ETH staking rewards reflected in your account prior to the completion of Phase 1.5 of the Ethereum network upgrade are an estimate based on a combination of reward rates and the period of time for which you’ve staked your ETH (minus any Coinbase Australia fees).  Rewards will be reflected in your account, but may not actually be accessible until the end of the lockup period.  Unless otherwise stated, you will not be able to trade, transfer, or otherwise access your ETH staking rewards during the lockup period.  

    5. Slashing Penalties. Staking ETH means your staked assets can be subject to “slashing” by the Ethereum network if the transaction validator representing those assets incorrectly validates a transaction. Coinbase will use commercially reasonable efforts to protect against slashing incidents: however, in the event of slashing, Coinbase will replace your assets so long as such penalties are not a result of: (i) protocol-level failures caused by bugs, maintenance, upgrades, or general failure; (ii) your acts or omissions; (iii) acts or omissions of any third party service provider; (iv) an event qualifying under Section 8.7 of the User Agreement; (v) acts by a hacker or other malicious actor; or (vi) any other events outside of Coinbase’s reasonable control.

    6. Wrapping. In some jurisdictions, you may choose to obtain the ability to sell, send, spend, or otherwise use your staked ETH prior to the completion of Phase 1.5 of the Ethereum network upgrade by selecting, at your sole discretion, to wrap into a token that represents the ETH that you have staked plus associated rewards. This service is not available everywhere, and additional eligibility requirements may apply. By electing to wrap your staked ETH plus any associated rewards balance into the Coinbase Wrapped Staked ETH known as “cbETH” you understand and agree that:

      (a) Once wrapped, you cannot redeem your staked ETH or claim any associated rewards except as described in Section 1.9, paragraph 7 below;

      (b) cbETH held in your Coinbase Australia Digital Asset Wallet represents ownership of ETH staked with Coinbase Australia in accordance with this section (including any associated rewards and minus any Coinbase Australia fees and slashing penalties). By wrapping staked ETH as cbETH, you remain entitled to all of the economic value, risk, and rewards of the staked ETH.  

      (c) Selling or otherwise transferring cbETH automatically transfers ownership of the staked ETH and the right to redeem described in Section 1.9, paragraph 7 below, and entitles the recipient to the attendant economic value, risk, and rewards of the staked ETH, subject to the terms of this Agreement. For avoidance of doubt, receiving cbETH does not by itself create a contractual relationship with Coinbase Australia, and in all cases the right to redeem cbETH is subject to the terms set forth in Section 1.9, paragraph 7.

      (d) Staked ETH and associated rewards that have been wrapped as cbETH is held by the Coinbase Group on behalf of holders of cbETH, and ownership of these assets shall not transfer to any entity in the Coinbase Group. Sections 5.19(A), 5.19(B) and 5.19(D) of this Agreement shall apply to staked ETH and associated rewards held on behalf of cbETH holders to the same extent as staked ETH held by the Coinbase Group on behalf of Coinbase customers.

      (e) cbETH is an ERC-20 token and may be compatible with protocols or other software or technology provided by third parties.

      (f) The staked ETH and rewards held by the Coinbase Group on behalf of cbETH holders are subject to the risk of slashing as a result of validator or network failures.

   In addition, you understand, agree and accept the following risks associated with electing to wrap into cbETH:

      (g) Neither Coinbase Australia nor any other entity of the Coinbase Group guarantee the value of your staked ETH principal or associated rewards. 

      (h) Neither Coinbase Australia nor any other entity of the Coinbase Group is responsible for any decrease in the value of your staked ETH principal or associated rewards.

      (i) The price of cbETH could diverge from the price of ETH or staked ETH because of market fluctuations, which may be affected by the actions or inactions of market makers or other market participants who receive loans or other incentives to purchase cbETH.

      (j) Neither Coinbase Australia nor any other entity of the Coinbase Group guarantees that wrapping staked ETH will result in a successful exchange or sale of cbETH. Neither Coinbase Australia nor any other entity of the Coinbase Group will backstop or otherwise intervene to guarantee cbETH liquidity.

      (k) Neither Coinbase Australia nor any other entity of the Coinbase Group guarantees the security or functionality of any third-party protocol, software or technology intended to be compatible with cbETH. Neither Coinbase Australia nor any other entity of the Coinbase Group is responsible for any losses of cbETH due to the failure of third-party protocol, software or technology.

      (l) As with the protocols for other Digital Currencies, neither Coinbase Australia nor any other entity of the Coinbase Group owns or controls the underlying Ethereum protocol which governs the operation of cbETH.  Accordingly, cbETH is subject to Section 5.15 of this User Agreement, like other Digital Currencies.

      (m) As with other Digital Currencies, cbETH could be impacted by one or more regulatory actions, which could impede or limit the services we can provide with respect to cbETH.

    7. Unwrapping/Redemption

      (a) If you hold cbETH in your Coinbase Australia Digital Asset Wallet and satisfy eligibility requirements, you may instruct Coinbase Australia to “unwrap” cbETH held in your Coinbase Australia Digital Asset Wallet, thereby redeeming your cbETH for staked ETH plus any associated rewards and minus any Coinbase Australia fees and slashing penalties. Staked ETH and any associated rewards will remain locked until Phase 1.5 of the Ethereum network upgrade is complete, as described in Section 1.9, paragraphs 2-4 above.

      (b) To unwrap cbETH, you will need to be a customer of either Coinbase Australia or another member of the Coinbase Group with an active Coinbase Account and be eligible to stake ETH as described in Section 1.9, paragraph 1 above. Additional geographic restrictions may apply, and eligibility is subject to change.

      (c) Requests to unwrap cbETH may not be processed immediately.

2. Advanced Trading

2.1. General. Coinbase offers, and eligible users may access, an order book for various Supported Digital Assets and fiat currency trading pairs (each an “Order Book”) on the Coinbase Site (“Advanced Trading”). See your Coinbase Account to see what Order Books are available within Advanced Trading. Coinbase does not offer Advanced Trading to customers in all jurisdictions. By accessing Advanced Trading or the Coinbase API for Advanced Trading, you accept and agree to be bound by the Trading Rules.

(A) Trading Fees. By placing an order on Advanced Trading, you agree to pay all applicable fees and authorise Coinbase to automatically deduct fees directly from your account. Trading Fees are set forth in the Trading Rules and are available at https://www.coinbase.com/legal/trading_rules.

(B) Deposit and Withdrawal Fees. Coinbase may charge a fee on certain fiat currency deposit or withdrawal methods (e.g. bank transfer). DEPOSITS AND WITHDRAWALS MAY BE SUBJECT TO LIMITS.

(C) Trading Account Use. You may not sell, lease, furnish, or otherwise permit or provide access to your trading account to any other entity or to any individual that is not your employee or agent. You accept full responsibility for your employees' or agents' use of Advanced Trading, whether such use is directly through Coinbase or by other means, such as those facilitated through API keys, and/or applications which you may authorise. You understand and agree that you are responsible for any and all orders, trades, and other instructions entered into Advanced Trading including identifiers, permissions, passwords, and security codes associated with your Coinbase Account.

(D) Suspension and Cancellation. In the event that your Coinbase Account is suspended or terminated, we will immediately cancel all open orders associated with your Coinbase Account, block all withdrawals and bar the placing of further orders until resolution or account cancellation.  In the event that your Coinbase Account is suspended or terminated, we will immediately cancel all open orders associated with your Coinbase Account, block all withdrawals and bar the placing of further orders until resolution or account cancellation.

3. Coinbase Pro

3.1. General. Eligible users may establish an account at: https://pro.coinbase.com (a “Coinbase Pro Account”), an order book exchange platform for Supported Digital Assets. The provisions of this Section 3 of this Appendix 3 (Coinbase Pro Services) apply to your use of such Coinbase Pro Account in addition to the other applicable provisions of this Agreement, including without limitation the releases, indemnities, disclaimers, limitations of liability, prohibited use, dispute resolution, and cancellation policies set forth above. Coinbase does not offer Coinbase Pro to customers in all jurisdictions.

(A) Order Books. Coinbase Pro offers an order book for various Supported Digital Assets and central bank issued currency trading pairs (each an “Order Book”). Refer to your Coinbase Pro Account to determine which Order Books are available to you.

(B) Coinbase Pro Account. Your Coinbase Pro Account consists of the following:

(1) a dedicated Digital Asset Wallet for each Supported Digital Asset offered on Coinbase Pro;

(2) a dedicated Fiat Wallet enabling you to store fiat; and

(3) associated user tools, accessible at: https://pro.coinbase.com and through the Coinbase API.

You understand and agree that you are responsible for any and all orders, trades, and other instructions entered into Coinbase Pro including identifiers, permissions, passwords, and security codes associated with your Coinbase Pro Account.

(C) Deposits. You may fund your Coinbase Pro Account by depositing Supported Digital Assets and/or fiat from your basic Coinbase Account, bank account or an external Digital Asset address into your Coinbase Pro Account.  The Supported Digital Asset and fiat deposited in your Coinbase Pro Account can be used only to buy and sell Supported Digital Assets using Coinbase Pro.

(D) Withdrawals. You may withdraw Supported Digital Assets from your Coinbase Pro Account by transfer to your basic Coinbase Account or to an external Digital Asset address. You may withdraw central bank issued currency from your Coinbase Pro Account to your Coinbase Account or directly to your bank account.

ALL DEPOSITS AND WITHDRAWALS MAY BE SUBJECT TO LIMITS. ALL LIMITS WILL BE DISPLAYED IN YOUR COINBASE PRO ACCOUNT.

(E) Deposit and Withdrawal Fees. Coinbase may also charge a fee on certain central bank issued currency deposit or withdrawal methods (e.g. bank transfer). All such fees will be clearly displayed in your Coinbase Pro Account.

3.2. Trading Rules and Trading Fees

(A) Trading Rules. By accessing Coinbase Pro through: https://pro.coinbase.com or the Coinbase API, you accept and agree to be bound by the trading rules set out at https://www.coinbase.com/legal/trading_rules (the “Trading Rules”).

(B) Trading Fees. By placing an order on Coinbase Pro, you agree to pay all applicable fees and you authorise Coinbase to automatically deduct fees directly from your Coinbase Pro Account. Trading fees are set forth in the Trading Rules and at: https://pro.coinbase.com/fees.

(C) Coinbase Pro Account Use. By using a Coinbase Pro Account you agree and represent that you will use Coinbase Pro only for yourself as the account owner, and not on behalf of any third party, unless you have obtained prior approval from Coinbase. You may not sell, lease, furnish or otherwise permit or provide access to your Coinbase Pro Account to any other entity or to any individual that is not your employee or agent. You accept full responsibility for your employees' or agents' use of Coinbase Pro, whether such use is directly through Coinbase Pro website or by other means, such as those facilitated through API keys, and/or applications which you may authorise. You understand and agree that you are responsible for any and all orders, trades, and other instructions entered into Coinbase Pro including identifiers, permissions, passwords, and security codes associated with your Coinbase Pro Account.

(D) Suspension and Cancellation. We may suspend your Coinbase Pro Account or your access to any one or more Order Books in accordance with the suspension and termination provisions set out in this Agreement.

Suspension or termination of your Coinbase Pro Account shall not affect the payment of fees or other amounts you owe to Coinbase. In the event that your Coinbase Account is suspended or terminated, we will immediately cancel all open orders associated with your Coinbase Pro Account, block all withdrawals and bar the placing of further orders until resolution or we cancel your Coinbase Account.

(E) No Warranty. We do not represent that Coinbase Pro and/or its constituent Coinbase Pro Accounts, APIs, and related services, will be available without interruption. Although we will strive to provide you with continuous operations, we do not guarantee continuous access or that there will be no delays, failures, errors, omissions or loss of transmitted information, nor do we guarantee that any order will be executed, accepted, recorded, or remain open. Coinbase reserves the right to cancel any open trades and/or suspend Coinbase Pro activity in accordance with the Trading Rules.

(F) No Investment Advice or Brokerage. For the avoidance of doubt, Coinbase does not provide investment, tax, or legal advice, nor does Coinbase broker trades on your behalf. All trades are executed automatically, based on the parameters of your order instructions and in accordance with posted trade execution procedures, and you are solely responsible for determining whether any transaction is appropriate for you based on your personal objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. Coinbase may provide educational information about Supported Digital Assets, as well as Digital Assets not supported by Coinbase, in order to assist users in learning more about such Digital Assets. Information may include, but is not limited to, blog posts, articles, links to third party content, news feeds, tutorials, and videos. Coinbase will not be held responsible for the decisions you make to buy, sell, or hold Digital Assets based on the information provided by Coinbase.

(G) Debts. In the event that there are outstanding amounts owed to us hereunder, including in your (standard) Coinbase Account, Coinbase reserves the right to debit your Coinbase Pro Account accordingly and/or to withhold amounts from funds you may transfer from your Coinbase Pro Account to your Coinbase Account.

4. Dapp Wallet, DEXs, and Decentralised Applications

4.1. Dapp Wallet. You may elect to use our dapp wallet (“Dapp Wallet”).  Our Dapp Wallet  allows you to access a digital asset browser and link to decentralised exchanges (“DEXs”) and other decentralised applications (together, “Dapp(s)”). The Dapp Wallet enables users to (i) store Digital Assets; (ii) access a digital asset browser and link to Dapps; (iii) view addresses and information that are part of Digital Asset networks and broadcast transactions; (iv) participate in retail DEX trades and associated DEX activity, and (iv) additional functionality as we may add from time to time.

4.1.1. Ownership and Control. You own and control Digital Assets held in your Dapp Wallet. As the owner of Digital Assets in your Dapp Wallet, you shall bear all risk of loss of such Digital Assets. Coinbase shall have no liability for Digital Asset fluctuations or loss associated with your use of a Dapp Wallet.  At any time, subject to outages, downtime, and other applicable policies, you may withdraw your Digital Assets by sending it to a different blockchain address.

4.1.2. Third Party Services and Environments. The Services and Coinbase Site may provide access to or link to third-party services, such as DEXs, and/or Dapps (“Third Party Services”). The Services enable you to access DEXs and/or Dapps via a Dapp browser or through a Dapp Wallet by navigating away from the Coinbase Site to the Dapp or DEX, by enabling a native frontend software link within the Coinbase Site, or by purchasing assets in the DEX environment through a Dapp Wallet. When accessing Third Party Services, you understand that you are at no time transferring your assets to us. We provide access to Third Party Services only as a convenience, do not have control over their content, do not warrant or endorse, and are not responsible for the availability or legitimacy of, the content, products, assets, or services on or accessible from those Third Party Services (including any related websites, resources or links displayed therein). Third-party Services, such as Dapps and DEXs, may provide access to assets which have high risks of illiquidity, devaluation, lockup, or loss.

4.1.3. Fees. You may incur charges from third parties for use of Third Party Services. For example, you may be charged fees via a DEX or Dapp that you may access via the Coinbase Site. Third party fees are not charged by Coinbase and are not paid to Coinbase.  Any Coinbase Fee charged will be designated as such, and presented before you submit your transaction.

4.1.4. Supported Assets. To view the Digital Assets currently supported by the Dapp Wallet, visit https://help.coinbase.com/en/dapps/using-my-dapp-wallet(“Dapp Supported Assets”). Your Dapp Wallet is intended solely for proper use of Dapp Supported Assets. Under no circumstances should you attempt to use your Dapp Wallet to store, send, request, or receive any assets other than Dapp Supported Assets. Coinbase assumes no responsibility in connection with any attempt to use your Dapp Wallet with Digital Assets that we do not support. You acknowledge and agree that Coinbase is not liable for any unsupported Digital Asset that is sent to a wallet address associated with your Dapp Wallet.  Coinbase may in its sole discretion terminate support for any particular Digital Asset.  Services and supported assets may vary by jurisdiction.

4.2. Digital Asset Transfers

4.2.1. In General. Your Dapp Wallet enables you to send Dapp Supported Assets to, and request, receive, and store Dapp Supported Assets from, third parties. Your transfer of Dapp Supported Assets between your other Digital Asset wallets (including wallets off the Coinbase Site) and to and from third parties is a “Dapp Wallet Asset Transfer”. We recommend customers send a small amount of Dapp Supported Assets as a test before sending a significant amount of Dapp Supported Assets.

4.2.2. Pending Transactions. Once a Dapp Wallet Asset Transfer is submitted to a Digital Asset network, the transaction will be unconfirmed and remain in a pending state for a period of time sufficient to allow confirmation of the transaction by the Digital Asset network. A Dapp Wallet Asset Transfer is not complete while it is in a pending state. Pending Dapp Wallet Asset Transfers that are initiated from a Dapp Wallet will reflect a pending transaction status and are not available to you for use in the Dapp Wallet or otherwise while the transaction is pending.

4.2.3. Dapp Wallet Inbound Transfers. When you or a third party sends Digital Assets to a Dapp Wallet from an external wallet (“Dapp Wallet Inbound Transfers”), the person initiating the transaction is solely responsible for executing the transaction properly, which includes ensuring that the Digital Asset being sent is a Dapp Supported Asset that conforms to the particular wallet address to which funds are directed, including any required Destination Tag/Memo. By initiating a Dapp Wallet Inbound Transfer, you attest that you are transacting in a Dapp Supported Asset that conforms to the particular wallet address to which funds are directed.

Coinbase incurs no obligation whatsoever with regard to unsupported Digital Assets sent to a Dapp Wallet or with regard to Dapp Supported Assets sent to an incompatible Digital Asset wallet address and/or unsupported network or blockchain. All such erroneously transmitted Digital Assets will be lost. Coinbase may from time to time determine types of Digital Assets that will be supported or cease to be supported. You acknowledge and agree that you may be required to pay network or miner’s fees in order for a Dapp Wallet Inbound Transfer transaction to be successful. Insufficient network fees may cause a Dapp Wallet Inbound Transfer to remain in a pending state outside of Coinbase’s control, and we are not responsible for delays or loss incurred as a result of an error in the initiation of the transaction and have no obligation to assist in the remediation of such transactions.

4.2.4. Dapp Wallet Outbound Transfers. When you send Digital Assets from your Dapp Wallet to an external wallet (“Dapp Wallet Outbound Transfers”), such transfers are executed at your instruction. You should verify all transaction information prior to submitting instructions. Coinbase shall bear no liability or responsibility in the event you enter an incorrect blockchain destination address, incorrect Destination Tag/Memo, or if you send your Digital Assets to an incompatible wallet. We do not guarantee the identity or value received by a recipient of a Dapp Wallet Outbound Transfer. Dapp Asset Transfers cannot be reversed once they have been broadcast to the relevant Digital Asset network, although they may be in a pending state, and designated accordingly, while the transaction is processed by network operators. Coinbase does not control the Digital Asset network and makes no guarantees that a Dapp Transfer will be confirmed by the network. We may cancel or refuse to process any pending Dapp Wallet Outbound Transfers as required by law or any court or other authority to which Coinbase is subject in any jurisdiction. Additionally, we may require you to wait some amount of time after completion of a transaction before permitting you to use further Coinbase Services and/or before permitting you to engage in transactions beyond certain volume limits.

4.3. Limitation of Liability. WE MAKE NO WARRANTIES OR REPRESENTATIONS, EXPRESS OR IMPLIED, ABOUT LINKED THIRD PARTY SERVICES, THE THIRD PARTIES THEY ARE OWNED AND OPERATED BY, THE INFORMATION CONTAINED ON THEM, ASSETS AVAILABLE THROUGH THEM, OR THE SUITABILITY, PRIVACY, OR SECURITY OF THEIR PRODUCTS OR SERVICES. YOU ACKNOWLEDGE SOLE RESPONSIBILITY FOR AND ASSUME ALL RISK ARISING FROM YOUR USE OF THIRD-PARTY SERVICES, THIRD-PARTY WEBSITES, APPLICATIONS, OR RESOURCES, INCLUDING RISK OF LOSS FOR ASSETS TRADED THROUGH SUCH THIRD-PARTY SERVICES. IN NO EVENT WILL COINBASE BE LIABLE FOR ANY DAMAGES ARISING OUT OF OR RELATING TO THIRD PARTY SERVICES. THIS SECTION OPERATES IN ADDITION TO ANY LIMITATION OF LIABILITY EXPRESSED ELSEWHERE IN THIS USER AGREEMENT.

5. USDC Rewards

USDC IS NOT LEGAL TENDER. USDC IS A SUPPORTED DIGITAL ASSET AND COINBASE HAS NO RIGHT TO USE ANY USDC IN YOUR COINBASE ACCOUNT. COINBASE IS NOT A DEPOSITORY INSTITUTION, AND YOUR USDC WALLET IS NOT A DEPOSIT ACCOUNT.

5.1. Eligibility. If you are eligible, you can earn rewards for holding USDC in your Coinbase Account. So long as you hold at least $1 of USDC in your Coinbase Account, you will automatically earn amounts of USDC as described below in the “Calculation” section (“USDC Rewards”). If at any time you do not hold at least $1 of USDC in your Coinbase Account, your enrollment in USDC Rewards will be paused until such time that you do hold at least $1 of USDC in your Coinbase Account. During such period you will retain all USDC Rewards previously accrued but not yet distributed. Such accrued rewards will be distributed as described below in the “Calculation” section. If at any time you are deemed ineligible, your enrollment in USDC Rewards will be similarly paused. You can opt-out of, or back into, USDC Rewards at any time by following the instructions here. If you opt-out of USDC Rewards or close your Coinbase Account, you will forfeit the rewards you have accrued (that are not yet distributed for the current calendar month) up to that time. USDC held on Coinbase Pro is not eligible for USDC Rewards.

5.2. Calculation. Rewards are earned on a daily basis in the form of USDC at the then current USDC Rewards Rate. Our current USDC Rewards Rate can be found here. Our current USDC Rewards Annual Percentage Yield, which includes the effect of monthly compounding, can be found here and here. Rewards earned in a particular month are airdropped into your Coinbase USDC Wallet within five (5) business days after the start of the next calendar month. USDC Rewards distributed to you are rounded-down to the nearest sixth decimal place. We use the Daily Balance Method to determine the rewards you earn for a particular day, using your average balance of USDC on that specific day as that day’s balance. The rate used to determine rewards earned for a particular day is the then current USDC Rewards Rate divided by 365.

5.3. Changes. We reserve the right to change the USDC Rewards Rate Annual Percentage Yield at any time by notification here and here and by other reasonable means of notice (including e-mail). Unless otherwise stated in the notice, no change will be effective until the first day of the calendar month after such notice is made. We reserve the right to add, change, or delete any provision of these terms and to terminate the USDC rewards program, or your participation in the program, at any time upon notice made in the same manner.

5.4. Definitions.

“USDC Rewards Rate” means the annual rate of rewards earned on a USDC Wallet, which does not reflect compounding. The current USDC Rewards Rate can be found here.

“USDC Rewards Annual Percentage Yield” or “APY” means the percentage rate reflecting the total amount of USDC Rewards earned, based on the then current USDC Rewards Rate and end of month compounding for a 365-day period. The current USDC Rewards Annual Percentage Yield can be found here and here.

“Daily Balance Method” means the application of the daily periodic rate (derived from the APY) to the calendar day average of USDC held in your USDC Wallet each day.

6. Coinbase Verifications

“Coinbase verifications” is a service that leverages the Ethereum Attestation Service to enable the issuance of Coinbase-verified, onchain attestations against predefined schemas relating to individual Coinbase customers (each, a “Coinbase Attestation”).  These onchain attestations may be used by eligible Coinbase customers to help establish identity and reputation when interacting with certain decentralized applications onchain.  A Coinbase Attestation issued to you will be stored onchain, and therefore will be public and viewable by anyone. If you do not wish to share this personal information with others by making it publicly available onchain, do not use the Coinbase verifications service.  Once a Coinbase Attestation has been issued to you, a record of the attestation may persist in the Ethereum Attestation Service even if you revoke the Coinbase Attestation through your Coinbase account.

6.1. Eligibility.  In order to use the Coinbase verifications service, you must (a) have a registered Coinbase account, (b) have successfully completed identity verification on your account, and (c) be in good standing and eligible to transact on the Coinbase platform. We reserve the right to not offer the Coinbase verifications service to you at our discretion.  Not in limitation of the foregoing, we may refuse to offer the Coinbase verifications service to you if the information you provided to create a Coinbase account (as described in the “Issuance” section below) is incomplete, inaccurate, or incorrect, or if you violate these terms, violate applicable law, or engage in behavior that harms our Services (for example, by engaging in fraudulent activity or attempting to circumvent our User Agreement or policies). We may also refuse to offer the Coinbase verifications service to you if your Coinbase account is subject to any type of limitation or review.

6.2. Issuance.  By using the “Coinbase verifications” service and having a Coinbase Attestation issued, you acknowledge that Coinbase may use some or all of the personal information you provide to us, including the information you provided when you opened your Coinbase account and information we collect in accordance with our Privacy Policy from your usage of any Services, to issue one or more Coinbase Attestations.

If you choose to have a Coinbase Attestation issued to you, you acknowledge that personal information or information derived from your personal information will be stored onchain, and therefore will be public and viewable by anyone.

You agree that all the information you provide Coinbase in order to have a Coinbase Attestation issued on your behalf is complete, accurate and correct. A Coinbase Attestation relies on the completeness, accuracy and correctness of information provided by you, which you are ultimately responsible for.  A Coinbase Attestation is a representation of the underlying information about you and/or your Coinbase account as of a specific point of time, and does not necessarily reflect any subsequent changes to such information.  Coinbase will assume for all intents and purposes that you own and control the private keys associated with the self-hosted wallet that you specify for receipt of any Coinbase Attestation that we issue to you, including for purposes of any tax reporting obligations that Coinbase may become subject to as a result of any reward or other value that is distributed to such self-hosted wallet in connection with such Coinbase Attestation.  By using the Coinbase verifications service, you further agree that you will not transfer the Coinbase Attestation to any third party. 

A Coinbase Attestation may also be based on data supplied to Coinbase by third parties, including government agencies, third party suppliers of identity verification services and others. Those third parties may change or may, due to change in laws or other reasons, change their policies or services. Therefore, we may be required to amend the provision and scope of any Coinbase Attestation and the corresponding schema, and may do so at any time at our discretion without notice.

6.3. Use.  Certain decentralized applications (each, a “Dapp”) may provide you with access to their applications because you are a holder of one or more Coinbase Attestations. If you do not wish to share any of the personal information that may be contained in a Coinbase Attestation, then do not use the Coinbase verifications service. We reserve the right to modify the scope of any Coinbase Attestation and the corresponding schema at any time without notice.

Unless otherwise specified, Coinbase does not have any affiliation with any Dapp that you may gain access to by virtue of holding one or more Coinbase Attestations, and your use of any such Dapp will be subject to terms and conditions that are between you and the Dapp.  Third-party service providers may offer certain products or services that leverage one or more Coinbase Attestations, for example, a “badge” or “checkmark” generated in reliance on a Coinbase Attestation. Your use of such third party products or services may be subject to your acceptance of, and compliance with, separate terms and conditions with such third parties, to which Coinbase is not a party. You acknowledge that Coinbase has no responsibility for the products or services provided by third parties.

Coinbase Attestations are non-transferrable and for your personal use only. You may not impersonate another user or entity in order to obtain a Coinbase Attestation. Purchasing, selling, lending, or renting a Coinbase Attestation is strictly prohibited.  If you transfer the private keys associated with the self-hosted wallet to which a Coinbase Attestation has been issued to a third party, we reserve the right to revoke such Coinbase Attestation and take such other action with respect to your Coinbase Account as we deem appropriate and/or necessary in our sole discretion.

Any Coinbase Attestation that is issued to you is provided for informational purposes only and unless otherwise expressly specified by Coinbase, is not intended to be relied upon for any legal, compliance or contractual purpose.  You acknowledge and agree that any such reliance by you will be at your own risk, and Coinbase disclaims any and all liability to you or any other third party that may result from such reliance.

Any Coinbase Attestation represents the status of your Coinbase account as of the time of issuance, and subsequent changes to the status of your Coinbase account that result in such attestation no longer being true may not be reflected immediately in the Ethereum Attestation Service.  Therefore, Coinbase does not represent, warrant or guarantee that the information contained in any attestation or represented thereby is complete, accurate, or correct.  Additionally, you should be aware that the specific processes that Coinbase uses to verify the identities of its customers may differ by jurisdiction. 

6.4. Invalidation.  We reserve the right to revoke a Coinbase Attestation that we have issued to you at our discretion, without notice. We may revoke a Coinbase Attestation if the information that was originally used to issue it is or becomes incomplete, inaccurate, or incorrect, or if you violate these terms, violate applicable law, or engage in behavior that harms our Services (for example, by engaging in fraudulent activity or attempting to circumvent our User Agreement or policies). We may also revoke a Coinbase Attestation that we have issued to you if your Coinbase account is subject to a limitation or review, or if we are required to do so in order to comply with a legal requirement or court order.

If you choose to use third party products or services that use or rely upon one or more Coinbase Attestations, like a “badge” or “checkmark”, access to such products or services may be disabled without notice. 

6.5. Limitation of Liability.  This section operates in addition to any limitation of liability or warranties expressed elsewhere in this User Agreement. 

Coinbase is not liable for any loss, including, for example, a loss of property, profits, revenues, business opportunities, goodwill, or anticipated savings made in reliance on the Coinbase verifications service or any Coinbase Attestation issued thereunder. We are also not liable for indirect or consequential losses, nor are we liable for punitive damages. This limitation of liability extends to our officers, directors, agents, joint venturers, employees, and representatives.

To the extent allowed by law, the Coinbase verifications service and any Coinbase Attestation issued thereunder are provided “as is.”  No promises should be implied (including the implied warranties of merchantability, fitness for a particular purpose, and non-infringement). For example, we don’t make any warranties about the content or features of a Coinbase Attestation, including its accuracy, reliability, availability, or ability to meet your needs. Coinbase does not represent, warrant or guarantee that the information used to issue a Coinbase Attestation is complete, accurate or correct and, accordingly, we do not represent or warrant or guarantee that a Coinbase Attestation is complete, accurate or correct.