Terms of Service

Last updated: June 8, 2026

1. Acceptance of Terms

Welcome to Herald Exchange ("Herald", "we", "us", or "our"). These Terms of Service ("Terms") govern your access to and use of the Herald Exchange website, mobile applications, APIs, and related services (collectively, the "Services"). By accessing or using the Services, you agree to be bound by these Terms and any policies incorporated herein by reference, including our Privacy Policy and Cookie Policy.

If you do not agree to any portion of these Terms, you must not access or use the Services. Your continued use of the Services after changes become effective constitutes acceptance of the revised Terms.

2. Eligibility

You must be at least 18 years of age (or the age of majority in your jurisdiction, whichever is greater) to register for and use the Services. By creating an account, you represent and warrant that:

You have full legal capacity to enter into a binding contract;
You are not a resident of, or located in, any jurisdiction where your use of the Services would violate local law or where Herald does not provide services;
You are not on any sanctions list maintained by the United Nations, the European Union, the United Kingdom, the United States Office of Foreign Assets Control (OFAC), or any other relevant authority;
You are not acting on behalf of a sanctioned person, entity, or government.

Herald may, at its sole discretion, refuse to provide Services to any person or in any jurisdiction.

3. Account Registration

To access most Services, you must register an account. You agree to provide accurate, current, and complete information during registration and to promptly update such information when it changes. You are responsible for:

Maintaining the confidentiality of your credentials and API keys;
Enabling multi-factor authentication (2FA) and safeguarding your recovery codes;
All activities that occur under your account, whether authorized or not;
Notifying Herald immediately of any unauthorized access, suspected compromise, or security breach.

Herald reserves the right to suspend, freeze, or close accounts that appear to be operated by unauthorized persons, bots, or which exhibit suspicious activity.

4. Identity Verification (KYC/AML)

To comply with applicable anti-money-laundering ("AML"), counter-terrorism financing ("CTF"), and know-your-customer ("KYC") regulations, you agree to provide identification documents and additional information upon request. These may include government-issued photo identification, proof of residence, source of funds declarations, and biometric data (such as a selfie or liveness check).

You authorize Herald and its authorized service providers to verify your information against public and private databases and to share that information with regulators, law enforcement, and financial institutions where legally required.

Access to certain features, higher trading tiers, or increased withdrawal limits may be conditioned on successful completion of enhanced due diligence. Herald may refuse, delay, or reverse transactions that cannot be sufficiently verified.

5. Services

Herald offers a platform for trading spot and derivative cryptocurrency products, depositing and withdrawing supported digital assets, and accessing market data and related tools. The specific Services available to you may vary depending on your jurisdiction, verification level, and account status.

Herald does not provide investment, legal, tax, or accounting advice. Nothing in the Services should be construed as a recommendation to buy, sell, or hold any digital asset. You are solely responsible for any decisions you make and for evaluating the merits and risks of any transaction before executing it.

Certain Services may be subject to additional product-specific terms, which will be made available to you prior to use. In case of conflict between these Terms and any product-specific terms, the product-specific terms will control with respect to that product. Herald may offer promotional rewards, referral programs, or trading competitions; participation is voluntary and subject to any posted rules. Bonuses and rewards may be clawed back if they are obtained through abuse, collusion, or other violations of these Terms.

Herald may add, modify, suspend, or discontinue any Service at any time, with or without notice. Supported assets, trading pairs, and order types may change. We may also introduce or adjust trading limits, order-size caps, circuit breakers, and other risk-management controls to protect the orderly operation of the Services.

5a. Deposits, Withdrawals & Custody

Digital assets deposited with Herald are held in custody by Herald or its approved custodians. Herald employs a combination of cold storage, multi-signature wallets, and segregated accounts where applicable. Nothing in these Terms should be interpreted as creating a bailment, trust, partnership, or fiduciary relationship, except as explicitly required by applicable law.

You are responsible for ensuring that deposit addresses, networks, and memo/tag fields (where applicable) are correct. Deposits sent using an unsupported asset, incorrect network, or invalid address may be unrecoverable. Herald will make reasonable efforts to recover misrouted deposits where feasible but cannot guarantee recovery and may charge a recovery fee.

6. Fees

You agree to pay all applicable fees for your use of the Services, including trading fees, deposit and withdrawal network fees, funding fees for leveraged products, and any other fees disclosed on our fee schedule. Fees may vary by product, volume tier, payment method, and jurisdiction.

Herald may revise fee schedules at any time. Material changes will be communicated through the Services or by email. Continued use of the Services after a fee change constitutes acceptance of the revised fees.

Network fees (e.g., on-chain miner or validator fees) are set by the underlying blockchain network and are not controlled by Herald. You are responsible for any taxes associated with your activity on the platform.

7. Prohibited Activities

You agree that you will not, and will not attempt to:

Use the Services for any unlawful purpose, including fraud, money laundering, terrorist financing, tax evasion, or sanctions evasion;
Engage in market manipulation, including spoofing, layering, wash trading, pump and dump schemes, front-running, or insider trading;
Access the Services using automated means (bots, scrapers, crawlers) except through officially documented APIs and within published rate limits;
Interfere with, disrupt, or attempt to gain unauthorized access to the Services, or probe, scan, or test the vulnerability of any system or network;
Use the Services on behalf of a third party without Herald's written consent;
Impersonate any person or entity, or misrepresent your affiliation with any person or entity;
Reverse-engineer, decompile, or disassemble any aspect of the Services, except to the extent permitted by applicable law;
Violate any applicable law, regulation, or these Terms.

8. Risk Disclosure

Trading digital assets involves substantial risk. By using the Services, you acknowledge and accept the following risks:

8.1 Volatility

Cryptocurrency prices are highly volatile and can change rapidly. Past performance is not indicative of future results. You may lose some or all of your funds.

8.2 Leverage Risk

Leveraged and margin products magnify both gains and losses. Adverse price movements can trigger liquidation of your position, resulting in the total loss of your posted collateral and, in some cases, losses exceeding your initial deposit. Do not trade with leverage unless you fully understand the mechanics and can afford to lose your entire investment.

8.3 Irreversibility of Transactions

Blockchain transactions are generally irreversible once confirmed. If you send assets to the wrong address, use an incorrect network, or lose access to your private keys, Herald cannot reverse the transaction or recover the assets. Always verify addresses, memos, and networks carefully before initiating a withdrawal.

8.4 Technology and Operational Risk

The Services depend on internet connectivity, blockchain networks, and third-party infrastructure. Outages, forks, protocol changes, smart-contract bugs, or cybersecurity incidents may disrupt the Services or result in loss.

8.5 Regulatory Risk

The legal and regulatory landscape for digital assets is evolving. New laws or regulations could restrict or prohibit certain activities, reduce the utility of particular assets, or materially impact the Services.

9. Intellectual Property

All content, software, trademarks, logos, and materials available through the Services are owned by Herald or its licensors and are protected by intellectual property laws. Except for the limited license granted to you to use the Services in accordance with these Terms, no rights are transferred to you.

You may not copy, modify, distribute, publicly display, publicly perform, or create derivative works based on any part of the Services without Herald's prior written consent. Any feedback you provide may be used by Herald without obligation to you.

10. Termination

You may close your account at any time by following the account-closure procedure within the Services, subject to completion of any pending transactions and verification steps.

Herald may suspend or terminate your access to the Services at any time, with or without cause or notice, including if we believe (in our sole discretion) that you have violated these Terms, applicable law, or that continued access poses a legal, regulatory, or security risk. Upon termination, certain provisions of these Terms will survive, including those relating to intellectual property, disclaimers, limitation of liability, indemnification, and dispute resolution.

11. Disclaimers

THE SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. TO THE FULLEST EXTENT PERMITTED BY LAW, HERALD DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE.

Herald does not warrant that the Services will be uninterrupted, error-free, secure, or that defects will be corrected. Herald is not responsible for the conduct of third parties, including issuers of digital assets or operators of blockchain networks.

12. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY LAW, HERALD AND ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, INCLUDING LOSS OF PROFITS, GOODWILL, DATA, OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR RELATING TO YOUR USE OF THE SERVICES.

In no event shall the aggregate liability of Herald to you for all claims arising out of or relating to these Terms or the Services exceed the greater of (a) the total fees paid by you to Herald in the twelve (12) months preceding the event giving rise to the claim, or (b) one hundred U.S. dollars (USD 100).

13. Indemnification

You agree to defend, indemnify, and hold harmless Herald and its affiliates, officers, directors, employees, and agents from and against any and all claims, damages, liabilities, losses, costs, and expenses (including reasonable legal fees) arising out of or related to: (a) your access to or use of the Services; (b) your violation of these Terms; (c) your violation of any third-party right, including intellectual-property or privacy rights; or (d) any content or data you submit to the Services.

14. Governing Law

These Terms are governed by the laws of the jurisdiction in which Herald is incorporated, without regard to conflict-of-laws principles. The United Nations Convention on Contracts for the International Sale of Goods does not apply.

Any dispute arising out of or relating to these Terms or the Services shall be resolved through binding arbitration, except that either party may seek injunctive relief in a court of competent jurisdiction to protect intellectual-property rights. You waive any right to participate in a class action or class arbitration to the extent permitted by law.

15. Changes to Terms

Herald may revise these Terms at any time by posting an updated version on the Services and updating the "Last updated" date above. Material changes will be communicated through the Services or by email to the address associated with your account. Your continued use of the Services after a change becomes effective constitutes your acceptance of the revised Terms. If you do not agree with the changes, you must stop using the Services and may close your account.

16. Contact

If you have questions about these Terms or the Services, please contact us:

Email: [email protected]
Support: /support