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Terms & Conditions

Please read these terms carefully before using HelloBob. They form a legal contract between you and HelloBob and explain what you can expect from us, and what we expect from you.

Effective date:

1. Agreement to these terms

These Terms & Conditions (the “Terms”) form a binding agreement between you (“you”) and HelloBob (“HelloBob”, “we”, “us”, or “our”). They govern your access to and use of the HelloBob mobile applications, this website at hellobob.app and any related services (together, the “Service”). By creating an account or otherwise using the Service, you confirm that you have read, understood and agreed to these Terms and to our Privacy Policy. If you do not agree, do not use the Service.

2. Eligibility

To use the Service you must:

  • be at least eighteen (18) years old;
  • be a resident of a country in which we offer the Service (currently Nigeria), and not a resident of any country, region or territory subject to comprehensive sanctions or export restrictions;
  • not appear on any sanctions list maintained by the United Nations, the United States (OFAC), the European Union, the United Kingdom or any other applicable jurisdiction;
  • have the legal capacity to enter into a binding contract under the laws of your country of residence;
  • provide accurate, current and complete information when creating your account, and keep that information up to date.

We may, at our sole discretion, refuse to open an account, suspend an account or close an account where we cannot satisfy ourselves that you meet these eligibility requirements.

3. Your account

To use most of the Service you must create an account, complete identity verification (KYC) and accept these Terms. You are responsible for:

  • keeping your login details, passwords, biometric credentials and device secure;
  • all activity that occurs under your account, whether or not authorised, except where caused by our gross negligence or wilful misconduct;
  • notifying us immediately at hello@hellobob.app if you suspect any unauthorised access, lost device or compromise of your account.

You may only have one personal account. You must not let any other person use your account, and you must not use anyone else’s account.

4. Identity verification (KYC) and ongoing due diligence

HelloBob is required by anti-money-laundering and counter-terrorist-financing laws to identify and verify its users and to monitor activity for unusual or suspicious patterns. By using the Service you authorise us to:

  • collect and verify your identity documents, biometric data, address and other information described in our Privacy Policy;
  • run sanctions, politically-exposed-person, adverse-media and blockchain-analytics screening on you and on transactions associated with your account;
  • request additional information or documents from you at any time, including the source of funds for any deposit or transaction, and to limit, suspend or terminate your account if you do not provide them within a reasonable period.

5. The Service

HelloBob lets eligible users:

  • buy supported cryptocurrencies with Nigerian Naira;
  • sell supported cryptocurrencies for Nigerian Naira and receive payout to a verified Nigerian bank account;
  • swap one supported cryptocurrency for another;
  • send supported cryptocurrencies to external wallet addresses on supported networks;
  • receive supported cryptocurrencies from external wallets;
  • view transaction history, balances and prices.

We may add, remove or modify supported cryptocurrencies, networks, features, limits and availability at any time. We do not provide investment, tax, accounting or legal advice. You are solely responsible for your investment decisions and for the tax consequences of your activity.

6. Custody of your assets

For supported cryptocurrencies, HelloBob (directly or through one or more third-party custodians) holds the relevant private keys on your behalf. While your balance is attributed to your account, the underlying assets may be held in pooled wallets along with assets of other users and of HelloBob. We use commercially reasonable measures to safeguard those assets, including a mix of cold and hot storage, multi-signature controls and access controls. You acknowledge that no custodial arrangement is risk-free.

Naira balances reflected in the app are held with one or more licensed banking or payment-services partners. They are not deposits with HelloBob and are not covered by any deposit-protection scheme that applies to banks.

7. Crypto transactions and network risks

You acknowledge that:

  • blockchain transactions are irreversible once confirmed by the network;
  • you are responsible for entering the correct destination address and selecting the correct network — sending to the wrong address or wrong network may result in permanent loss of funds, and we are unable to recover them;
  • network confirmation times, fees and availability are determined by the underlying blockchain and may change without notice;
  • a blockchain may suffer outages, congestion, forks, attacks (including 51% attacks), re-organisations, protocol changes or other events that affect transactions;
  • we are not responsible for losses caused by user error, network conditions or malfunctions of third-party wallets or services.

8. Naira deposits and payouts

Naira payouts are processed through licensed Nigerian banking and payment partners. Payout times depend on those partners and on the receiving bank, and may be delayed by compliance reviews or banking-system issues outside our control. We will display applicable payout limits, processing windows and any required information in the app before you confirm a transaction.

9. Fees and exchange rates

We charge fees for some transactions, including buy, sell, swap and external send transactions. Network fees are also charged by the underlying blockchain when you send crypto. The exchange rate shown for buy, sell and swap transactions includes our spread and may differ from rates quoted on third-party exchanges. The fees, spread and applicable network fee for a transaction will be displayed before you confirm it. Once you confirm a transaction it cannot be reversed.

10. Limits, holds and refusals

We may, without prior notice and at our sole discretion:

  • set or change minimum and maximum transaction or balance limits;
  • decline, delay, reverse, hold or freeze a transaction or balance for as long as necessary to comply with the law, our compliance policies or a request from a regulator, court or law enforcement;
  • require additional information from you, including evidence of source of funds or the identity of a counterparty;
  • recover funds credited to your account in error, including by debiting your account or your linked bank account.

11. Prohibited activities

You must not use the Service to:

  • break any law or regulation, including AML, CTF, sanctions, tax or securities laws;
  • fund or engage in money laundering, terrorist financing, fraud, market manipulation, insider dealing or any other financial crime;
  • buy or sell goods or services that are illegal, including weapons, controlled substances, child sexual abuse material, or any goods that infringe intellectual property rights;
  • operate, on behalf of someone else, an unlicensed money-transmission, payment or exchange business through your account;
  • attempt to defeat any of our security or compliance controls, including by submitting false documents or impersonating another person;
  • access the Service through automated means, scrape it, reverse engineer it, or use it in a way that could damage, disable or impair it;
  • use the Service in any country, region or territory subject to comprehensive sanctions, or for the benefit of any sanctioned person.

12. Risks

You acknowledge that crypto-asset activity carries significant risk, including:

  • Volatility: the value of crypto assets can change dramatically and you may lose all or a substantial part of the funds you put in.
  • Regulatory risk: crypto-asset regulation is evolving in Nigeria and globally. Future rules may restrict or prohibit some uses of the Service.
  • Operational risk: the Service relies on the internet, mobile networks, cloud providers, blockchains and partners. Outages and incidents may affect availability and timing.
  • Counterparty risk: custodians, exchanges, liquidity providers, banks and payment partners may default, suffer cyber incidents or freeze funds.
  • No deposit insurance: crypto and Naira balances on the Service are not deposits with HelloBob and are not covered by any deposit-protection or investor-compensation scheme.

You should only use funds you can afford to lose.

13. Intellectual property

HelloBob, the HelloBob name and logo, the apps, the website, and all related content (other than user content and third-party content) are owned by us or our licensors and are protected by intellectual property laws. We grant you a limited, personal, non-exclusive, non-transferable, revocable licence to use the Service for its intended purpose. You must not copy, modify, distribute, sell, lease or create derivative works from any part of the Service without our prior written consent.

14. Your content

Some parts of the Service let you submit content, for example messages or media you send to our in-app chat or support channels. You retain ownership of your content. By submitting content you grant HelloBob a worldwide, royalty-free, sublicensable licence to host, store, transmit and use it solely for the purposes of operating, securing and improving the Service and complying with the law.

15. Suspension and termination

We may suspend, restrict or terminate your access to all or part of the Service and close your account at any time if we reasonably believe that:

  • you have breached these Terms;
  • your use of the Service exposes us, our partners or other users to legal, regulatory, security or reputational risk;
  • we are required to do so by law, by a regulator, by a court or by a banking partner;
  • continuing the relationship would be commercially unreasonable.

Where we are legally allowed to do so, we will tell you the reason. Following termination, we will return any remaining balance to you, subject to applicable law, any holds or freezes lawfully placed on the account, and successful identity verification.

You may close your account at any time by contacting us at hello@hellobob.app, after withdrawing all balances and completing any pending transactions.

16. Disclaimers

To the maximum extent permitted by law, the Service is provided on an “as is” and “as available” basis. We do not warrant that the Service will be uninterrupted, error-free, secure or free of harmful components, that prices or information will be accurate at all times, or that the Service will meet your requirements. We disclaim all implied warranties, including merchantability, fitness for a particular purpose, title and non-infringement, to the maximum extent permitted by law.

17. Limitation of liability

To the maximum extent permitted by law, HelloBob, its directors, officers, employees, agents, affiliates and licensors shall not be liable for any indirect, incidental, special, consequential, exemplary or punitive damages, loss of profits, loss of revenue, loss of business, loss of opportunity, loss of goodwill or loss of data arising out of or related to your use of, or inability to use, the Service.

Without limiting the foregoing, our aggregate liability to you for all claims arising out of or related to the Service in any twelve (12) month period shall not exceed the greater of (a) the fees you paid to us during that period, or (b) ten thousand Nigerian Naira (₦10,000).

Nothing in these Terms excludes or limits liability that cannot be excluded or limited under applicable law, including liability for fraud or for death or personal injury caused by negligence.

18. Indemnity

You agree to indemnify and hold HelloBob and its directors, officers, employees, agents, affiliates and licensors harmless from any claim, demand, loss, damage, liability, cost or expense (including reasonable legal fees) arising out of or related to (a) your breach of these Terms or any law, (b) your use of the Service, (c) any content you submit, or (d) any infringement of the rights of another person caused by your activity on the Service.

19. Changes to the Service or these Terms

We may change the Service or these Terms at any time. Where the changes are material, we will tell you in-app or by email at least seven (7) days before they take effect, unless we need to act sooner to comply with the law or to address a security risk. Your continued use of the Service after the new effective date means you accept the updated Terms. If you do not accept them, you must stop using the Service and may close your account.

20. Governing law and dispute resolution

These Terms are governed by the laws of the Federal Republic of Nigeria. Any dispute arising out of or related to these Terms or the Service shall first be discussed in good faith between you and HelloBob. If it is not resolved within thirty (30) days, the dispute shall be referred to and finally resolved by arbitration in Lagos under the Arbitration and Mediation Act 2023 (or its replacement) by a single arbitrator appointed by agreement between the parties or, failing agreement, by the President of the Chartered Institute of Arbitrators (Nigeria Branch). The seat of arbitration shall be Lagos and the language shall be English. Nothing in this section prevents either party from seeking urgent injunctive or other equitable relief from a court of competent jurisdiction.

21. General

  • Entire agreement: these Terms and our Privacy Policy form the entire agreement between you and us regarding the Service and replace any earlier understanding on the same subject.
  • No waiver: our failure to enforce a right does not waive that right.
  • Severability: if any provision is held unenforceable, the rest of these Terms remains in effect.
  • Assignment: you may not assign or transfer your rights or obligations under these Terms without our prior written consent. We may assign these Terms at any time without notice.
  • Notices: we may give you notices in-app, by push notification, by email or via the website. You may give us notices at the contact details below.
  • Force majeure: we are not liable for delays or failures caused by events beyond our reasonable control, including outages of public blockchains, banking systems, telecommunications networks or cloud providers, regulatory action, or natural disasters.

22. Contact us

Questions about these Terms or the Service should be sent to hello@hellobob.app.