Usage Policy

Comprehensive guidelines for the proper use of Electrimum hardware wallets, including compliance requirements, security protocols, and user responsibilities.

Last updated: September 2024

1. Purpose & Limitations

Electrimum hardware wallets are designed exclusively for the secure offline storage of cryptocurrency and NFT private keys. Our devices serve a single, focused purpose: providing cold storage solutions for digital asset custody.

What Our Devices Do:

  • Store private keys offline in secure hardware
  • Generate and manage cryptocurrency addresses
  • Sign transactions without exposing private keys
  • Support multiple cryptocurrency networks and tokens
  • Provide secure backup and recovery mechanisms
  • Enable multi-signature transaction workflows
  • Maintain air-gapped operation for maximum security
  • Offer hardware-based transaction verification

What Our Devices Do NOT Do:

  • Provide buying, selling, or trading services
  • Offer exchange functionality or market access
  • Include built-in wallet services or custodial features
  • Connect to trading platforms or exchanges directly
  • Provide investment advice or market analysis
  • Offer price tracking or portfolio management
  • Include DeFi protocol integrations
  • Provide lending, staking, or yield services
  • Offer automated trading or algorithmic features
  • Include social trading or copy trading functions

Important: Electrimum devices are hardware-only solutions. All trading, exchange, and financial services must be accessed through separate, third-party platforms that you choose and control independently.

2. Security Architecture

Our security model is built on multiple layers of protection designed to safeguard your private keys against both physical and digital threats.

Secure Element Technology

  • Isolated secure-element chip with tamper-resistant design
  • Hardware-based key generation using true random number generators
  • Cryptographic operations performed entirely within secure hardware
  • Protection against side-channel attacks and fault injection
  • Secure boot process with verified firmware signatures
  • Hardware-enforced access controls and authentication
  • Physical tamper detection and response mechanisms
  • Electromagnetic interference shielding

Network Isolation

  • No permanent internet connection or wireless capabilities
  • Air-gapped operation prevents remote attacks
  • USB communication limited to transaction signing only
  • No data storage of transaction history or personal information
  • Offline key generation and storage
  • Isolated transaction verification process
  • No cloud connectivity or remote management features

Authentication Layers

  • PIN protection with anti-brute-force mechanisms
  • Optional passphrase for additional security layer
  • Seed phrase backup for recovery purposes
  • Biometric authentication on Pro models
  • Multi-factor authentication for enterprise models
  • Time-based access controls and session management
  • Hardware-based authentication tokens

Open Source & Auditing

  • Open-source firmware available for community review
  • Independent security audits by recognized firms
  • Reproducible builds for firmware verification
  • Public vulnerability disclosure program
  • Regular penetration testing and security assessments
  • Community-driven security research and improvements
  • Transparent development process and code reviews

3. Legal Requirements & Compliance

While Electrimum hardware wallets themselves are not subject to KYC/AML requirements as they are hardware devices, users must understand and comply with all applicable laws and regulations.

Device Classification

  • Hardware wallets are classified as consumer electronics, not financial services
  • No KYC/AML requirements apply to the device purchase or ownership
  • Devices do not constitute financial instruments or investment products
  • No regulatory licensing required for device operation
  • Consumer electronics regulations and safety standards apply
  • Export/import controls may apply in certain jurisdictions
  • Encryption technology export restrictions may be relevant

User Compliance Responsibilities

  • Comply with local cryptocurrency laws and regulations
  • Understand tax obligations for cryptocurrency holdings
  • Follow import/export rules for cryptographic devices
  • Adhere to anti-money laundering requirements when using exchanges
  • Report cryptocurrency holdings as required by local law
  • Comply with sanctions and restricted party lists
  • Follow know-your-customer requirements of service providers
  • Understand legal implications of cross-border transactions
  • Maintain proper records for tax and compliance purposes

Jurisdictional Considerations

  • Laws vary significantly between countries and regions
  • Some jurisdictions may restrict or prohibit cryptocurrency use
  • Import duties and taxes may apply to device purchases
  • Professional advice recommended for complex situations
  • Regular monitoring of changing regulatory landscape required
  • Compliance with local data protection and privacy laws

Disclaimer: This information is for general guidance only and does not constitute legal advice. Users are responsible for understanding and complying with all applicable laws in their jurisdiction.

4. Risks & Liability

Using cryptocurrency hardware wallets involves inherent risks that users must understand and accept. Electrimum provides hardware devices but cannot control market conditions or user actions.

Seed Phrase & Recovery Risks

  • Loss of seed phrase results in permanent loss of access to assets
  • Electrimum cannot recover, restore, or reset lost seed phrases
  • No backup or recovery service available from manufacturer
  • Seed phrase security is entirely user responsibility
  • Physical damage to seed phrase backup renders recovery impossible
  • Sharing seed phrase with others creates security vulnerabilities
  • Digital storage of seed phrases increases risk of theft
  • Inheritance planning required for asset recovery by heirs

Market & Financial Risks

  • Cryptocurrency values are highly volatile and unpredictable
  • Market downturns can result in significant asset value loss
  • Electrimum is not responsible for market performance or asset values
  • No guarantee of asset appreciation or investment returns
  • Regulatory changes may affect asset accessibility or value
  • Network forks or protocol changes may impact asset compatibility
  • Liquidity risks may prevent asset conversion when needed
  • Exchange failures or hacks may affect asset accessibility

Technical & Operational Risks

  • Hardware failure may require device replacement and recovery
  • Firmware updates may introduce new bugs or compatibility issues
  • User error in transaction signing may result in asset loss
  • Incompatible software may prevent device operation
  • Network congestion may delay transaction processing
  • Third-party wallet software may contain vulnerabilities
  • Phishing attacks may target device users

Manufacturer Liability Limitations

  • Electrimum liability limited to device replacement value
  • No liability for cryptocurrency market performance
  • No responsibility for user errors or misuse
  • No liability for third-party software or service failures
  • No guarantee of compatibility with future protocols
  • Limited warranty covers hardware defects only
  • No liability for regulatory or legal changes
  • Force majeure events may affect service availability

Important: Cryptocurrency investments carry significant risk. Only invest what you can afford to lose, and consider seeking professional financial advice.

5. Setup & Support Guidelines

Proper setup and ongoing maintenance are crucial for the security and functionality of your Electrimum hardware wallet.

Initial Setup Process

  • Verify device authenticity using provided verification tools
  • Check packaging integrity and tamper-evident seals
  • Generate seed phrase offline in secure environment
  • Create multiple physical backups of seed phrase
  • Set strong PIN with no personal significance
  • Configure optional passphrase for additional security
  • Test recovery process before storing significant assets
  • Verify all supported networks and tokens
  • Install and configure compatible wallet software
  • Perform test transactions with small amounts

Ongoing Maintenance

  • Install firmware updates promptly for security patches
  • Regularly verify seed phrase backup integrity
  • Monitor supported network updates and changes
  • Keep wallet software updated to latest versions
  • Periodically test device functionality and recovery
  • Review and update security practices regularly
  • Monitor for security advisories and announcements
  • Maintain secure storage for device and backups

Network Compatibility

  • Bitcoin (BTC) and Bitcoin-based networks
  • Ethereum (ETH) and ERC-20 tokens
  • Major altcoins and alternative networks
  • Layer 2 solutions and scaling networks
  • NFT standards and marketplaces
  • DeFi protocols and decentralized applications
  • Cross-chain bridges and interoperability solutions
  • Emerging protocols subject to compatibility testing

Support Channels

  • Technical documentation and user guides
  • Email support for device-related issues
  • Phone support for enterprise customers
  • Community forums and knowledge base
  • Video tutorials and setup guides
  • Developer resources and API documentation
  • Security advisory notifications
  • Warranty and repair services

Support Limitations: We provide technical support for device functionality but cannot assist with cryptocurrency trading, tax advice, or legal compliance matters.

6. Advertising & Marketing Compliance

All Electrimum advertising and marketing materials comply with strict guidelines to ensure accurate representation of our products and services.

Permitted Advertising Content

  • Hardware wallet key storage functionality
  • Security features and technical specifications
  • Offline storage and air-gapped operation
  • Multi-currency and token support capabilities
  • Hardware durability and build quality
  • User interface and ease of use features
  • Backup and recovery mechanisms
  • Compatibility with third-party wallet software
  • Enterprise features and institutional support
  • Warranty and customer support services

Prohibited Advertising Content

  • Any mention of trading, buying, or selling services
  • Exchange functionality or market access features
  • Investment advice or financial recommendations
  • Profit guarantees or return on investment claims
  • Price predictions or market analysis
  • Lending, staking, or yield generation services
  • DeFi protocol integrations or automated features
  • Social trading or copy trading capabilities
  • Portfolio management or asset allocation tools
  • Custodial services or asset management

Required Disclosures

  • Hardware-only functionality clearly stated
  • No trading or exchange services disclaimer
  • User responsibility for compliance with local laws
  • Risk warnings about cryptocurrency volatility
  • Seed phrase security and recovery limitations
  • Manufacturer liability limitations
  • Third-party software dependency disclosures
  • Warranty terms and coverage limitations
  • Geographic restrictions and availability

Platform-Specific Requirements

  • Google Ads compliance with cryptocurrency policies
  • Facebook/Meta advertising restrictions adherence
  • Social media platform community guidelines
  • Search engine optimization ethical practices
  • Email marketing consent and unsubscribe options
  • Influencer partnership disclosure requirements
  • Content marketing accuracy and fact-checking

Compliance Commitment: All marketing materials undergo legal review to ensure accuracy and compliance with applicable advertising regulations and platform policies.

Questions About Usage Policy

If you have questions about this Usage Policy or need clarification on compliance requirements, please contact us:

Email: compliance@electrimum.co.uk

Phone: +44 7429 305 816

Address: 205 Lydgate Lane, Sheffield S10 5FQ, United Kingdom

We will respond to compliance inquiries within 48 hours during business days.