This terms-of-use agreement (hereinafter the “Terms of Use”) is an agreement between you (hereinafter the “User”) and Stakeminers.com and applies to your use of the services provided by Stakeminers.com (hereinafter “Stakeminers.com”).
As used herein, “Stakeminers.com” refers to the website Stakeminers.com including but not limited to, its owners, directors, Members, employees or other related parties. Depending upon context, “Stakeminers.com” may also refer to the services, products, site, content, equipment or other materials provided by Stakeminers.com.
The Terms of Use is an important document, which the User must consider carefully when choosing whether to use the Services. Please read the Terms of Use carefully before agreeing to it. The Terms of Use also highlight certain risks of using the Services together with guidance on how to safely carry out online services via Stakeminers.com.
The User is solely responsible for understanding and complying with any and all laws, rules and regulations of his/her specific jurisdiction that may be applicable to the User in connection with the use of Stakeminers.com.
1.1. Account: means an account created by the User on the Stakeminers.com platform.
1.2. Bitcoin(s): refers to the Peer-to-Peer cryptocurrency (see bitcoin.org).
1.3. Block: means a record in the blockchain that contains and confirms financial transactions.
1.4. Buyer(s): means the User(s) who submits an offer to buy commodities or cryptocurrencies through the Service.
1.5. Mining contract: means providing a certain amount of staking potential for a certain period of time.
1.6. Platform: means an environment created by Stakeminers.com to execute orders of virtual commodities such as mining contracts. The Platform is not intended to provide any legal, tax, insurance or investment advice.
1.7. Price: means "price per commodity or cryptocurrency" for which we are selling staking contracts for virtual currency. The Price may be expressed virtual currencies such as Bitcoin.
1.8. Service(s): means the technological platform, functional rules and virtual currency transactions managed by Stakeminers.com to permit the Users to buy virtual commodities using virtual currencies.
1.9. Site: StakeMiners.com website at
StakeMiners.com.
1.10. Order or transaction: means an agreement between the User and the Stakeminers.com to exchange virtual currencies for staking contracts at a commonly agreed rate ("Purchase transaction").
1.11. Payout: means a scheduled payout of Users account balance by sending the amount of Bitcoins User has received in his Stakeminers.com account with staking contracts to Users Bitcoin address.
1.12. Transaction Amount or Transaction Price: means the total price paid by the User in respect to each Transaction performed via the Service.
1.13. User(s): means an individual person, who uses the Services and agreed to the Terms of Use and is a holder of an Account.
2.1. The Service allows all Users of the Platform to buy staking contracts using virtual currencies such as Bitcoin.
2.2. Depending on the Users country of residence, the User may not be able to use all the functions of the Site. It is the Users responsibility to follow those rules and laws in his/her country of residence and/or country from which the User accesses this Site.
2.3. The User acknowledges and agrees that, when completing Transactions, he is using an experimental virtual currency to purchase experimental virtual commodities and it may include risks of loss of capital as described in these Terms of Service.
2.4 The user understands this opportunity is not directed at persons located in the United States. Any person who wishes to use these services must first guarantee that they are not subject to any local requirements that prohibit or restrict access.
3.1. The User has the right to enter and use the Site and the Services, as long as he/she agrees to and actually complies with the Terms of Use. By using the Site, the User agrees to accept and comply with the terms and conditions stated herein.
3.2. The User undertakes to read the entire Terms of Use carefully before using the Site or any of the services provided by Stakeminers.com.
3.3. The User undertakes to comply with any and all applicable laws and regulations related to the Transactions.
3.4. The User undertakes to monitor all and any changes on his/her Account, including but not limited to the balance matters.
3.5. The User undertakes to immediately (i.e. right after the moment of discovery) inform Stakeminers.com about any unusual, suspicious, unclear or abnormal changes on his/her Account. In case of late informing or non-informing the User will be liable for the breach of the Terms of Use and Stakeminers.com will have the right to take any further steps accordingly, including but not limited to appeal to the relevant state authorities.
3.6. The User agrees that, whenever the Transaction is made, the Platform sends and receives the digital currency sums and/or cryptocurrencies from the Users account in their name and on their behalf, through the IT system.
3.7. The User undertakes to notify Stakeminers.com immediately of any unauthorized use of his/her Account or password, or any other breach of security by contacting Stakeminers.com through our website. Any User who violates the mentioned rules may be terminated, and thereafter held liable for losses incurred by Stakeminers.com or any user of the Site.
3.8. The User undertakes not to use the Service to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, financing terrorist organizations, or malicious hacking.
3.9. The User is responsible for any and all damages caused and all liability actions brought against Stakeminers.com for infringement of third party rights or violation of applicable laws.
3.10. Nothing in the Terms of Use excludes or limits the liability of the User for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded.
3.11. Users are solely responsible for determining whether any contemplated Transaction is appropriate for them based on their personal goals, financial status, risk willingness, and local laws and regulations.
4.1. By creating an Account, the User expressly represents and warrants that he/she:
follows the rules and laws in his/her country of residence and/or country from which he /she accesses this Site and Services;
has accepted these Terms of Use;
has the right to accept these Terms of Use and participate in transactions involving cryptocurrencies and commodities.
4.2. The User represents and warrants that he/she will only use the Platform to perform Transactions in accordance with the conditions set forth in these Terms and that they are duly authorised and have the capacity to enter into the Transactions on the Platform.
4.3. The User represents and warrants that the digital currencies deposited to buy the stking contracts are actual digital currencies corresponding to actual assets in its coin wallet and coming from legal sources.
4.4. The User represents and warrants that he is the legitimate owner and is allowed to use all cryptocurrencies and commodities deposited on his/her Account and that the Transactions being carried out do not infringe the rights of any third party or applicable laws.
5.1. Stakeminers.com has the right to suspend Users Account and block all cryptocurrency and commodity sums contained therein, in case of non-fulfilment or unduly fulfilment of the Terms of Use by the User.
5.2. Stakeminers.com undertakes to provide Services with the utmost effort, due care and in accordance with these Terms of Use.
5.3. Stakeminers.coms responsibility shall be limited to using reasonable technical efforts to ensure the receipt of the cryptocurrency transferred.
When initiating cryptocurrency transactions to a user who is not the Stakeminers.com User, Stakeminers.com responsibility shall be further limited to ensuring the transfer of the necessary technical data to the cryptocurrency network.
5.4. Stakeminers.com is not responsible for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered is caused by a breach of the Terms of Use by Stakeminers.com.
5.5. Stakeminers.com is not responsible for any malfunction, breakdown, delay or interruption of the Internet connection, or any other issues with our service, website and platform uptime and smooth oeration.
5.6. In the case of fraud, Stakeminers.com undertakes to report all the necessary information, including names, addresses and all other requested information, to the relevant authorities dealing with fraud and breaches of the law. Users recognize that their account may be frozen at any time at the request of any competent authority investigating a fraud or any other illegal activity.
5.7. Nothing in these terms excludes or limits the responsibility of Stakeminers.com for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not be limited or excluded by law.
5.8. Stakeminers.com and this opportunity is not directed at persons located in the United States. Any person who wishes to use these services must first guarantee that they are not subject to any local requirements that prohibit or restrict access.
6.1. All materials on this Site are the property of Stakeminers.com or respective cryptocurrency coins, and are protected by copyright, trademark and other applicable laws, unless otherwise specified hereby.
6.2. The User may view, print and/or download a copy of the materials from the Site on any single computer solely for his/her personal, informational, non-commercial use, provided he/she keeps intact to all copyright and other proprietary notices.
6.3. The trademarks, service marks and logos of Stakeminers.com and others used on the Site (hereinafter the “Trademarks”) are the property of Stakeminers.com and its respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on this Site belong to Stakeminers.com. The Trademarks and other materials on the Site should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated. The use of any materials from the Site on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties.
7.1. The Site is for the User’s personal and non-commercial use only. Stakeminers.com is vigilant in maintaining the security of the Site and the Service. By registering with Stakeminers.com, the User agrees to provide Stakeminers.com with current, accurate, and complete information about him/herself as prompted by the registration process, and to keep such information updated.
7.2. The User agrees that he/she will not use any Account other than his/her own, or access the Account of any other User at any time, or assist others in obtaining unauthorized access.
7.3. The User is responsible for maintaining the confidentiality of information on his Account, including, but not limited to his password, email, wallet addresses, wallet balances, and of all activity including transactions made through his Account. If there is suspicious activity related to the Users Account, Stakeminers.com may request additional information from the user, including authenticating documents, and freezing the account for the duration of the review time. The User is obligated to comply with these security requests, or accept termination of his Account.
7.4. The creation or use of Accounts without obtaining the prior express permission from Stakeminers.com will result in the immediate suspension of all respective Accounts, as well as all pending buy/sell orders. Any attempt to do so or to assist others, or the distribution of instructions, software or tools for that purpose, will result in termination of said Users Accounts. Termination is not the exclusive remedy for such a violation, and Stakeminers.com may decide to take further action against the User.
7.5 Your registered email is how StakeMiners.com has direct communication with you. You should always use an email where you have the ability to send and receive emails. Using disposable emails is not advised. This is an investment opportunity, and we need to have direct 2-way communication with you for certain aspects of your account like requesting investment withdraws, changing passwords, changing payout addresses, and other sensative account information. Not being able to send or receive emails could result in loss of your account.
8.1. Stakeminers.com may use mining hardware (That supplements the payouts) that incurs a service cost which may be charged (hereinafter the "Maintenance Cost").
8.2. Maintenance Cost includes: hosting, electricity and upkeep costs for maintaining computational equipment.
8.3. The Maintenance Cost is charged in Bitcoins in the way described at the FAQ ("Frequently Asked Questions") section of the website. Maintenance Cost is deducted from cloud based staking Members at the time of principal withdraw based on section 8.4 and section 25 of the ToS.
8.4. There is a 2% (0.02) fee charged to the amount being withdrawn.
8.5. At any time Stakeminers.com Reserves the right adjust withdraw penalties and their amounts at any time.
8.6. Mining with hardware can be stopped by Stakeminers.com if the amount of the Maintenance Cost exceeds rewards for each mined block or if the mining is economically inexpedient. The decision to renew hardware mining is made by Stakeminers.com, taking into account calculations of hardware mining effectiveness.
8.7. Stakeminers.com holds the right to change the Maintenance Cost amount, as well as the way of its charge off.
8.8 PAYOUT FEES: Payouts are not the same as principal withdraws, payouts are the earnings you are paid on your investment.
8.9 There are absolutely no fees associated with Payouts. You are not charged transaction fees, nor are you charged a fee for receiving a payout.
The price of each cryptocurrency and commodity is limited to 6 digits. There is no minimum contract that can be purchased. The minimum amount of Bitcoins that can be transacted within the Platform is 0.05000000, with the minimum payout being 0.00100000.
For all financial calculations, Stakeminers.com uses a rounding policy which rounds to the 8th digit after the separator.
10.1. The User shall be solely responsible for ensuring that any transfer of cryptocurrency to a Transferee shall be a valid and legal transaction not infringing any laws including money-laundering laws and regulations.
10.2. Stakeminers.com reserves the right to suspend or terminate your Stakeminers.com Account at any time if we reasonably believe to be required to do so by the law or in order to comply with recommendations issued by a relevant government authority or recognized body for the prevention of financial crime.
10.3. It is strictly forbidden to use the Stakeminers.com Account for any illegal purposes, including but not limited to, fraud and money laundering. Stakeminers.com will report any suspicious activity to the relevant law enforcement agency. The User is prohibited from using his/her Stakeminers.com Account in an attempt to abuse, exploit or circumvent the usage restrictions imposed by a merchant on the services it provides.
10.4. It is the Users and not Stakeminers.com responsibility to ensure that the User only sends payments to or receives payments from persons or entities for the sale or supply of goods and services that the User may provide or receive in compliance with any applicable laws and regulations. The mere fact that a person or entity accepts payments through Stakeminers.com is not an indication of the legality of the supply or provision of their goods and services. If the User is in doubt of the legality of a supply or purchase, he/she should not continue with the payment.
11.1. The User must take all reasonable steps to keep his/her Stakeminers.com Account password safe all the time and never disclose it to anyone. Stakeminers.com personnel will never ask the User to provide his/her password to Stakeminers.com or to a third party. Any message the User receives or website that he/she visits that asks for the password, other than the Stakeminers.com Website or a Stakeminers.com payment gateway on a merchant website, should be reported to Stakeminers.com. If the User is in doubt whether a website is genuine, it is required to ensure the website is EV SSL compliant (Security Certificate Validation is shown in the address bar of the User’s web browser).
11.2. It is advisable to change the Users password regularly (at least every three (3) to six (6) months) in order to reduce the risk of a security breach in relation to the Stakeminers.com Account. Stakeminers.com also advises the User not to choose a password that is easily guessed from information someone might know or gather about the User or a password that has a meaning. The User must never allow anyone to access his/her Stakeminers.com Account or watch you accessing your Stakeminers.com Account.
11.3. If the User has any indication or suspicion of his/her Stakeminers.com Account, login details, password or other security feature being lost, stolen, misappropriated, used without authorization or otherwise compromised, the User is advised to change the password. The User must contact Customer Service without undue delay on becoming aware of any loss, theft, misappropriation or unauthorized use of the Users Stakeminers.com Account, login details, password or other security features. Any undue delay in notifying Stakeminers.com may not only affect the security of the Users Stakeminers.com Account, but may result in the User being liable for any losses as a result. If the User suspects that someone else accessed his/her Stakeminers.com Account, the User should also contact the police and report the incident.
11.4. Stakeminers.com may suspend the User’s Account or otherwise restrict its functionality on reasonable grounds relating to the security of the Stakeminers.com Account or any of its security features or if Stakeminers.com reasonably suspects that an unauthorized or fraudulent use of the User’s Stakeminers.com Account has occurred or that any of its security features have been compromised. Stakeminers.com will notify the User of any suspension or restriction and of the reasons for such suspension or restriction in advance or, where Stakeminers.com is unable to do so, immediately after the suspension or restriction has been imposed, unless notifying the User would be unlawful or compromise our reasonable security interests. Stakeminers.com will lift the suspension and/or the restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist.
11.5. The User must take reasonable care to ensure that his/her e-mail account(s) are secure and only accessed by the User, as his/her e-mail address may be used to reset passwords or to communicate with the User about the security of the Stakeminers.com Account. Stakeminers.com cannot be liable for the breach of an e-mail account resulting an unauthorized transaction to be executed with proper confirmation. In case any of the e-mail addresses registered with the User’s Stakeminers.com Accounts are compromised, the User should without undue delay after becoming aware of this contact Customer Service and also contact his/her e-mail service provider.
11.6. Irrespective of whether the User is using a public, a shared or his/her own computer to access the Stakeminers.com Account, the User must always ensure that his/her login details are not stored by the browser or cached or otherwise recorded. The User should never use any functionality that allows login details or passwords to be stored by the computer he/she is using.
11.7. Additional products or services the User uses may have additional security requirements and the User must familiarize with those as notified to him/her.
12.1. All services are provided without guarantees of any kind, either express or implied.
12.2. Stakeminers.com will strive to keep the Site up and running; however, all online services suffer from occasional disruptions and outages, and Stakeminers.com is not liable for any disruption or loss you may suffer as a result. Thus, Stakeminers.com does not provide any guarantees that access to the Site will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of information.
12.3. Stakeminers.com will use reasonable endeavors to ensure that the User can normally access the Site in accordance with the Terms of Use. Stakeminers.com may suspend use of the Site for maintenance and will make reasonable efforts to give the User notice. The User acknowledges that this may not be possible in an emergency.
Stakeminers.com does not provide any investment or financial advice in connection with the Services contemplated by these Terms of Use. Stakeminers.com may provide information on the price, range, volatility of Digital Currency and events that have affected the price of digital currency, but it should not be considered as an investment advice and should not be construed as such. Any decision to buy or sell cryptocurrencies and commodities is the Users decision and Stakeminers.com will not be liable for any loss suffered.
Stakeminers.com business model, and our Service, consists of facilitating the buying, selling and trading of cryptocurrencies and commodities and their use to purchase goods in an unregulated, international open payment system.
15.1. The User undertakes to pay all his/her taxes and duties, which can be resulted from the use of Stakeminers.com Services and should be paid according the User’s state/country of residence regulations.
15.2. Stakeminers.com is not responsible for any violation made by the User due to his/her obligation to calculate and pay taxes and duties.
Email messages sent over the Internet are not secure and Stakeminers.com is not responsible for any damages incurred by the result of sending email messages over the Internet. We suggest sending email in encrypted formats.
These Terms of Use shall be governed by and construed in accordance with the laws of the Philippines, unless otherwise expressly provided. All disputes and controversies arising out of or in connection with this website and these Terms of Use shall be submitted to the Philippines Davao City. If any portion of these Terms of Use shall be deemed invalid, void, or for any reason unenforceable, such portion shall be deemed severable and shall not affect the validity and enforceability of any remaining portion.
IN NO EVENT SHALL STAKEMINERS.COM, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND ALL THIRD PARTY SERVICE PROVIDERS, BE LIABLE TO YOU OR ANY OTHER PERSON OR ENTITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES WHATSOEVER, INCLUDING ANY THAT MAY RESULT FROM (I) THE ACCURACY, COMPLETENESS, OR CONTENT OF THIS SITE, (II) THE ACCURACY, COMPLETENESS, OR CONTENT OF ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (III) THE SERVICES FOUND AT THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (IV) PERSONAL INJURY OR PROPERTY DAMAGE OF ANY NATURE WHATSOEVER, (V) THIRD-PARTY CONDUCT OF ANY NATURE WHATSOEVER, (VI) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SERVERS AND/OR ANY AND ALL CONTENT, PERSONAL INFORMATION, FINANCIAL INFORMATION OR OTHER INFORMATION AND DATA STORED THEREIN, (VII) ANY INTERRUPTION OR CESSATION OF SERVICES TO OR FROM THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (VIII) ANY VIRUSES, WORMS, BUGS, TROJAN HORSES, OR THE LIKE, WHICH MAY BE TRANSMITTED TO OR FROM THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (IX) ANY USER CONTENT OR CONTENT THAT IS DEFAMATORY, HARASSING, ABUSIVE, HARMFUL TO MINORS OR ANY PROTECTED CLASS, PORNOGRAPHIC, “X-RATED”, OBSCENE OR OTHERWISE OBJECTIONABLE, AND/ OR (X) ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF YOUR USE OF THIS SITE OR THE SERVICES FOUND AT THIS SITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL OR EQUITABLE THEORY, AND WHETHER OR NOT STAKEMINERS.COM IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN ADDITION, YOU SPECIFICALLY ACKNOWLEDGE AND AGREE THAT ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO THIS SITE OR THE SERVICES FOUND AT THIS SITE MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES, OTHERWISE SUCH CAUSE OF ACTION SHALL BE PERMANENTLY BARRED. IN ADDITION, YOU SPECIFICALLY ACKNOWLEDGE AND AGREE THAT IN NO EVENT SHALL STAKEMINERS.COM TOTAL AGGREGATE LIABILITY EXCEED THE TOTAL AMOUNT PAID BY YOU FOR THE PARTICULAR SERVICES THAT ARE THE SUBJECT OF THE CAUSE OF ACTION. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW, AND SHALL SURVIVE ANY TERMINATION OR EXPIRATION OF THIS AGREEMENT OR YOUR USE OF THIS SITE OR THE SERVICES FOUND AT THIS SITE.
The User agrees to protect, defend, indemnify and hold harmless Stakeminers.com and its officers, directors, employees, agents, and third party service providers from and against any and all claims, demands, costs, expenses, losses, liabilities and damages of every kind and nature (including, without limitation, reasonable attorneys’ fees) imposed upon or incurred by Stakeminers.com directly or indirectly arising from (1) the User’s use of and access to this Site or the Services found at this Site; (2) the User’s violation of any provision of the Terms of Use or the policies or agreements which are incorporated herein; and/or (3) the User’s violation of any third-party right, including without limitation any intellectual property or other proprietary right. The indemnification obligations under this section shall survive any termination or expiration of the Terms of Use or the User’s use of this Site or the Services found on this Site.
Stakeminers.com reserves the right to change, add or remove portions of these Terms, at any time, in an exercise of its sole discretion. You will be notified of any changes in advance through your StakeMiners Account. Upon such notification, it is your responsibility to review the amended Terms. Your continued use of the Site following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all current and subsequent transactions by you will be subject to the amended Terms.
If Stakeminers.com is unable to perform the Services outlined in the Terms of Use due to factors beyond its control including but not limited to an event of Force Majeure, change of law or change in sanctions policy StakeMiners.com will not have any responsibility to the User with respect to the Services provided hereunder and for a time period coincident with the event.
This Site and the Services found at this Site may contain links to third-party websites that are not owned or controlled by Stakeminers.com. Stakeminers.com assumes no responsibility for the content, terms and conditions, privacy policies, or practices of any third-party websites. In addition, Stakeminers.com does not censor or edit the content of any third-party websites. By using this Site or the Services found at this Site, you expressly release Stakeminers.com from any and all liability arising from your use of any third-party website. Accordingly, Stakeminers.com encourages you to be aware when you leave this Site or the Services found at this Site and to review the terms and conditions, privacy policies, and other governing documents of each other website that you may visit.
Privacy Policy is a part of our terms of use. Please see it here:
Privacy Policy
This policy establishes the minimum deposit in bitcoin (BTC) or altcoins which StakeMiners will accept from clients. The minimums can be changed at any time to ensure each deposit gains stake weight in the stake pool.
DEPOSIT MINIMUM
The deposit minimum for any altcoin or Bitcoin is 0.05000000 BTC.
A member may request a principal withdrawal by submitting an email from the email account registered with Stakeminers. Withdrawal requests must be received by Friday, 12 noon Eastern Standard Time (EST)/midnight Philippines time.
If more than one withdrawal is requested, the withdrawals will be paid out to full in the order they are received. The order will be established by the date on your email requesting the withdrawal. This may result in your waiting more than one month to receive your full principal.
WILL MY WITHDRAWAL REQUEST EFFECT MY EARNINGS?
Yes, once you file your withdrawal request your account will be locked and you will not accrue earnings.
However, any earnings credited to you, up until the day of your withdrawal request, will be available for payment as usual on the next Monday payout.
There is a 2% (0.02) fee charged to the amount being withdrawn. The fee will be deducted from each payout of principal made. The withdrawal fee is only charged on the principal, not earnings.
IS THERE A FEE ON EARNING PAYMENTS?
No, there is no fee charged to the weekly earnings payments.
WHY IS THERE A PRINCIPAL WITHDRAWAL FEE?
The 2% fee is directed to operating costs. The fee is placed with other internal funds to cover business operating costs. By doing this we generate enough operating funds so that we do not have deduct such costs from your earnings.
In order to reduce the rapid in and out movement of funds, which causes large swings to earnings, Stakeminers is implementing a 90 day lock-in period for deposits.
When you make a deposit those funds can not be withdrawn for 90 days. As all deposits are date stamped Stakeminers knows how long funds have been on deposit. Therefore, for Members with multiple deposits, each individual deposit is subject to the 90 day lock-in policy.
Stakeminers can provide you with a listing of your deposits dates and time in the staking pool on request.
WHAT IS THE INTENTION OF THIS POLICY?
There are three objectives to this policy:
- First, to reduce the churn rate to the staking pool. This will ensure the staking pool and earnings continue to grow.
- Second, it reduces the work associated with constantly restructuring coin wallets with every major withdrawal.
- Third, to encourage deposits from Members who are interested in a longer term investment product.
This policy establishes the criteria for Stakeminers to accept Proof of Stake (PoS) altcoins for deposit or for principal repayment.
In order to provide clients with deposit options Stakeminers will accept for deposit those PoS altcoins which are included in the stake pool. Please see our website for the current list of PoS altcoins we stake.
Altcoin(s) - for the purpose of this policy, means the PoS coins which Stakeminers holds in a staking wallet.
ALTCOIN DEPOSITS
Altcoin deposits will be accepted with the following conditions:
1. Altcoin principal deposits are locked in for 90 days;
2. Altcoin principal deposits will be credited to your account at a value of the average for that altcoin for the past 30 days. Price data will be provided by CoinMarketCap (www.coinmarketcap.com).
3. Stakeminers reserves the right to adjust the altcoin time period for average value, where in our
opinion price manipulation may have occurred.
4. If Stakeminers determines, after the fact, that in our opinion, price manipulation has occurred we
reserve the right to cancel your deposit and refund to you, at the value provided to us, of your deposit.
At that time we will also close your account and refund to you any earnings and principal you have on
deposit with us as per our Principal Withdraw Policy.
ALTCOIN PRINCIPAL REPAYMENTS
Altcoin principal repayments will be made with the following conditions:
1. Altcoin principal payments are subject to a 2% withdrawal fee;
2. Altcoin principal payments have exceeded the principal 90 day lock in period;
ALTCOIN DEPOSIT PROCESS
If you wish to make an altcoin principal deposit please take the following steps:
1. Email us at: payments (at) stakeminers.com;
- Subject line: (name of altcoin) altcoin deposit
- Email information: amount of altcoin deposit, account name, and account email address.
2. Stakeminers will then email you a confirmation which will include an altcoin deposit address;
3. Deposit your altcoins to the address provided;
4. Stakeminers will email you to confirm receipt,and value, of the altcoin deposit.
ALTCOIN PRINCIPAL WITHDRAW PROCESS
The altcoin principal withdrawal process will operate the same as the current principal withdrawal process except:
1. You will need to provide an altcoin address to receive your altcoins.
2. Principal request cutoff is 1200 h (noon) Eastern Standard Time (EST) on Thursday;
3. Principal payments are made on Mondays;
4. Principal Altcoin Withdraws may be subject to their respective maturity phases of the Altcoin being withdrawn. This is due to the structuring of each wallet to give us daily stakes. We can not pull coins out of already structured blocks.
5. As per the Principal Withdraw Policy, principle withdraws of altcoins will only be made from altcoins in excess of our payout needs. If your principal withdraw is larger than the number of excess altcoins we have, your principal will be repayed over time each Monday until the pricipal is repaid in full.
6. Stakeminers, may at its discretion, sell altcoins to make a principal repayment, where such a sale of altcoins would not impair the stake pool earnings.
7. Stakeminers will send you an email confirming your withdrawal.
If you have any questions relating to these Terms of Use, your rights and obligations arising from these Terms and/or your use of the Site and the Service, your Account, or any other matter, please
contact us through our website.
