Terms of Use

Welcome to Lucid Crypto Investment!

This is a User Agreement between you (also referred to herein as “User,” or “customer”) and Lucidinvestment, Inc. ("Lucidinvestment," “we,” “us,” and “our”). This User Agreement ("Agreement" or “User Agreement”) governs your use of the services provided by Lucid described below and such other services that may be offered by Lucid from time to time ("Lucid Services" or "Services"). By signing up to use a Lucid account or service through Lucidinvestment.io, Lucid’s API, or Lucid website (collectively the "Lucid Site"), or by obtaining, holding or using a wrapped token issued by Lucid, you agree that you have read, understand, and accept all of the terms and conditions contained in this Agreement including our Privacy Policy, Cookie Policy,.  You may have to agree to additional terms and conditions to use certain Additional Services (as defined below). Important Definitions: As used throughout this Agreement, the following terms have the following meanings. “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. "Supported Digital Asset" means only those particular Digital Assets listed as available to trade or custody in your portfolio (as defined below). Services and supported assets may vary by jurisdiction.  Amendment of these Terms: We may amend or modify this Agreement at any time by posting the revised agreement on the Lucid Site and/or providing a copy to you (a “Revised Agreement”). The Revised Agreement shall be effective as of the time it is posted but will not apply retroactively. Your continued use of the Services after the posting of a Revised Agreement constitutes your acceptance of such Revised Agreement. If you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your account (as defined below).  Dispute Resolution: PLEASE BE AWARE THAT SECTION 7 (CUSTOMER FEEDBACK, QUERIES, COMPLAINTS, AND DISPUTE RESOLUTION) AND APPENDIX 5 OF THIS AGREEMENT,CONTAIN PROVISIONS GOVERNING HOW TO RESOLVE DISPUTES BETWEEN YOU AND LUCID. AMONG OTHER THINGS, APPENDIX 5 INCLUDES AN AGREEMENT TO ARBITRATE WHICH REQUIRES, WITH LIMITED EXCEPTIONS, THAT ALL DISPUTES BETWEEN YOU AND US SHALL BE RESOLVED BY BINDING AND FINAL ARBITRATION USUALLY AN EXCHANGE OR OTC.  APPENDIX 5 ALSO CONTAINS A CLASS ACTION AND JURY TRIAL WAIVER.  PLEASE READ SECTION 7 AND APPENDIX 5 CAREFULLY. Fees may be assigned in commission for Investment Advice or Brokerage depending on user Investment plan: For the avoidance of doubt, Lucid is responsible for providing investment, tax, or financial advice, and you and your account manager are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. Lucid may provide educational information about Supported Digital Assets, as well as Digital Assets not supported by Lucid, 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. The information provided on the Lucid Site or any such third-party sites may constitute investment advice, financial advice, trading advice, or any other sort of advice. Lucid will be held responsible for the decisions you make to buy, sell, or hold Digital Assets based on the information provided by Lucid to meet the set targets for your portfolio.  Lucid brokers trades on your behalf unless otherwise specified on as wealth management agreement. All Lucid trades are executed automatically, based on the parameters of your order instructions and in accordance with posted trade execution procedures. Acknowledgement of Risk: 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. You should consult your financial account manager regarding your specific situation and financial condition and carefully consider whether trading or holding Digital Assets is suitable for you.   Lucid is registered with the U.S. Securities and Exchange Commission and offer securities services outside of the United States or to U.S. persons.  You acknowledge that Digital Assets are subject to protections or insurance provided by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation which is provided by Lucid. 1. Account Setup 1.1. Eligibility. To be eligible to use the Lucid Services, you must be at least 18 years old, and reside in the United States.  There are certain features which may or may not be available to you depending on your location and other criteria.  1.2. Registration of Lucid Account. You must register for a Lucid account to use the Lucid Services (a "Lucid Account"  or “your account”). You will need to complete certain verification procedures before you are permitted to use the Lucid Services. By registering or using a Lucid Account you agree and represent that you have created your Lucid Account and you will use your Lucid Account only for yourself, and not on behalf of any third party, unless you have obtained prior written approval from Lucid. Each customer may register only one Lucid account. You are fully responsible for all activity that occurs under your Lucid Account. We may, in our sole discretion, refuse to open a Lucid Account, suspend or terminate any Lucid Account, suspend or terminate the sending of Digital Assets from your account, or suspend or terminate the trading of Digital Assets in your account.  Please see Section 6 below for more information. 1.3. Consent to Access, Processing and Storage of Your Personal Data &Identity Verification. During registration for your Lucid Account, or at any other time deemed necessary by Lucid, you agree to provide us with the information we request for the purposes of identity verification, providing Lucid Services to you, and the detection of money laundering, terrorist financing, fraud, or any other financial crimes and permit us to keep a record of such information. The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, and information regarding your bank account (such as the name of the bank, the account type, routing number, and account number) and in some cases (where permitted by law). You consent to us accessing, processing and retaining any personal information you provide to us for the purpose of us providing Lucid Services to you. This consent is not related to, and does not affect, any rights or obligations we or you have in accordance with data protection laws, privacy laws and regulations. You can withdraw your consent at any time by closing your account with us. However, we may retain and continue to process your personal information if we reasonably believe it is necessary in order to comply with laws or regulations. In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic. You agree to keep us updated if any of the information you provide changes. You authorize us to make inquiries, 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 inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full. This is an identity check only and should have no adverse effect on your credit rating. 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 authorize your wireless carrier  to use or disclose  information about your account and your wireless device, if available, to Lucid or its service provider for as long as you have a Lucid Account, solely to help them identify you or your wireless device and to prevent fraud. See our Privacy Policy and Cookie Policy for more information on how we process your personal data and the rights you have in respect of this. 1.4. Access. The Lucid Services can be accessed directly using the Lucid Site. Access to Lucid Services may become degraded or unavailable during times of significant volatility or volume. This could result in significant support response time delays. Although we strive to provide you with excellent service, we do not represent that the Lucid Site or other Lucid Services will be available without interruption and we do not guarantee that any order will be executed, accepted, recorded, or remain open. Lucid shall not be liable for any losses resulting from or arising out of delays in processing transactions, inability to execute transactions, or lack of timely response from Lucid’s customer support. For example, if you are locked out of your Lucid Account, it is possible that the value or price of the Digital Assets in your account might go down before your access is restored. Lucid shall not be liable for any alleged losses that you suffer from a drop in Digital Asset values or prices. 2. Hosted Wallet and Custodial Services 2.1. Hosted Wallet Services. As part of your Lucid Account, Lucid will provide qualifying users: (i) hosted Digital Asset wallet(s), each of which is an account for holding Supported Digital Assets (“Digital Asset Wallet”), and (ii) a hosted US Dollars ("USD") wallet, which is an account for holding USD (a “USD Wallet“). You may also elect to use other products and services, such as the Lucid vault (“Lucid Vault”), or Lucid Wallet (an unhosted wallet service); additional rules associated with such product(s) and services(s) may apply. Unless otherwise noted, all references to Digital Asset Wallet include Lucid Vault. 2.2. Hosted Digital Asset Wallet. Your Digital Asset Wallet allows you to store, track, transfer, and manage your balances of Supported Digital Assets.We securely store Digital Asset private keys, which are used to process transactions, in a combination of online and offline storage. As a result of our security protocols, it may be necessary for us to retrieve private keys or related information from offline storage in order to facilitate Digital Asset Transfers (as defined below) in accordance with your instructions, and you acknowledge that this may delay the initiation or crediting of such Digital Asset Transfers.  2.3. Supported Digital Assets. Your Digital Asset Wallet is intended solely for proper use of Supported Digital Assets as designated on the Lucidinvestment Site. Under no circumstances should you attempt to use your Digital Asset Wallet to store, send, request, or receive any assets other than Supported Digital Assets. Lucid assumes no responsibility in connection with any attempt to use your Digital Asset Wallet with Digital Assets that we do not support. You acknowledge and agree that Lucid is not liable for any unsupported Digital Asset that is sent to a wallet associated with your Lucid Account. Lucid may in its sole discretion terminate support for any particular Digital Asset. If you do not sell or send such Digital Asset off platform before Lucid terminates its support for such Digital Asset, then Lucid may, in its discretion, remove such Digital Asset from your Digital Asset Wallet and credit your Digital Asset Wallet or USD Wallet the equivalent market value of a Supported Digital Asset or fiat currency minus transaction costs. If you have any questions about our current list of Supported Digital Assets, please visit https:// lucidinvestment.io 2.4. Supplemental Protocols Excluded. Unless otherwise specifically announced on the Lucid Site or as set forth in this Agreement, 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. Do not use your Lucid Account to attempt to receive, request, send, store, or engage in any other type of transaction or functionality involving any such protocol as the Lucid Site is not configured to detect, secure, or process these transactions and functionality. Any attempted transactions in such items will result in loss of the item. You acknowledge and agree that other than as set forth in this Agreement supplemental protocols are excluded from Supported Digital Assets and that Lucid has no liability for any losses related to supplemental protocols. 2.5. Fungibility of Certain Digital Assets.  You acknowledge and agree that Lucid may hold Supported Digital Assets in your Digital Asset Wallets in a variety of different ways, including across multiple blockchain protocols, such as layer two networks, alternative layer one networks, or side chains. In connection with its holding of Supported Digital Assets in your Digital Asset Wallets, Lucid may transfer such Digital Assets off of the primary blockchain protocol and hold such Digital Assets on shared blockchain addresses, controlled by Lucid, on alternative blockchain protocols in forms compatible with such protocols.  You agree that all forms of the same Digital Asset that are held and made available across multiple blockchain protocols may be treated as fungible and the equivalent of each other, without regard to (a) whether any form of such Digital Asset is wrapped or (b) the blockchain protocol on which any form of such  Digital Asset is stored. 2.6. Operation of Digital Asset Protocols. Lucid 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 do not guarantee the functionality or security of network operations. In particular, the underlying protocols may 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 Assets in your Digital Asset Wallet or other wallet. Lucid 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 Lucid in determining whether to continue to use a Lucid Account for the affected Digital Asset. In the event of any such operational change, Lucid reserves the right to take such steps as may be necessary to protect the security and safety of assets held on the Lucid Site, including without limitation, temporarily suspending operations for the involved Digital Asset(s); Lucid will endeavor to provide you notice of its response to any material operating change; however, such changes are outside of Lucid’s control and may occur without notice to Lucid. Lucid’s response to any operating change is subject to its sole discretion and may include 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 Lucid 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 Lucid has sole discretion to determine its response to any operating change and that we have no responsibility to assist you with unsupported currencies or protocols. You further acknowledge and accept that Lucid has no responsibility to support new Digital Asset forks or operating changes for Digital Assets. 2.7. Digital Asset Custody and Title. All Supported Digital Assets held in your Digital Asset Wallet are custodial assets held by Lucid for your benefit, as described in further detail below. 2.7.1. Ownership. Title to Supported Digital Assets shall at all times remain with you and shall not transfer to Lucid. All interests in Digital Assets we hold for Digital Asset Wallets are held for customers, are not property of Lucid, and are not subject to claims of Lucid’s creditors. As owner of the Supported Digital Assets in your Digital Asset Wallet, you shall bear all risk of loss of such Supported Digital Assets. Lucid shall have no liability for Supported Digital Asset fluctuations or loss. None of the Supported Digital Assets in your Digital Asset Wallet are the property of, or shall or may be loaned to, Lucid; Lucid does not represent or treat assets in User’s Digital Assets as belonging to Lucid. Lucid may not grant a security interest in the Supported Digital Assets held in your Digital Asset Wallet. Except as required by law, or except as provided herein, Lucid will not sell, transfer, loan, hypothecate, or otherwise alienate Supported Digital Assets in your Digital Asset Wallet unless instructed by you. 2.7.2 Application of the Uniform Commercial Code. All Supported Digital Assets credited to the Digital Asset Wallet will be treated as “financial assets” under Division 8 of the California Uniform Commercial Code (“Division 8”). Lucid is a “securities intermediary” as used in Division 8 with respect to Supported Digital Assets, and your Digital Asset Wallet is a “securities account” as used in Division 8. As stated in Division 8, “the characterization of a person, business, or transaction for purposes of this division does not determine the characterization of the person, business, or transaction for purposes of any other law, regulation, or rule,” including the United States Commodity Exchange Act and any federal, state, or foreign securities law or regulation. Lucid will comply with your instructions with respect to your Supported Digital Assets, subject to the terms of this User Agreement.  2.7.3. Control and Customer Instructions. You control the 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 instructing Lucid to debit the applicable Supported Digital Asset from your Digital Asset Wallet and transfer the Digital Assets to a different blockchain address. As long as you continue to hold Supported Digital Assets with Lucid, Lucid shall retain control over electronic private keys associated with blockchain addresses operated by Lucid, including the blockchain addresses used to hold the Supported Digital Assets credited to your Digital Asset Wallet. 2.7.4. Omnibus Accounts. In order to more securely and effectively custody assets, Lucid may use shared blockchain addresses, controlled by Lucid, to hold Supported Digital Assets for Digital Asset Wallets on behalf of customers and/or held on behalf of Lucid. Although we maintain separate ledgers for users’ Lucid Accounts and Lucid accounts held by Lucid for its own benefit, Lucid shall have no obligation to create a segregated blockchain address for your Supported Digital Assets.   2.7.5. 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. Lucid may or may not support voting for such assets, and may cease supporting voting at any time in its discretion. Lucid will comply with your instruction to vote your Supported Digital Assets to the extent Lucid or its affiliate supports voting for such Supported Digital Assets. In certain cases, Lucid may vote on your behalf where Lucid or the applicable protocol does not support delegated voting; in those instances, Lucid will vote with the protocol’s recommendation. 2.8. USD Wallet. Your USD Wallet allows you to hold and transfer USD with your Lucid Account as described in Section 3 below. To the extent your USD is held as crypto, the balance of your USD Wallet is maintained in pooled custodial accounts at one or more banks insured by the FDIC.  Our custodial accounts have been established in a manner to make available pass-through FDIC insurance available up to the per-depositor coverage limit then in place (currently $2,000,000 per individual).  Availability of pass-through FDIC insurance is contingent upon Lucid having correct information about you as a customer, maintaining accurate records, and on determination by the FDIC as receiver, at the time of a receivership of a bank holding a custodial account.  The current list of the insured depository institutions at which Lucid may deposit customer funds is located here. Lucid is not an FDIC-insured bank. Lucid may also invest funds in liquid investments, which may include but are not limited to U.S. treasuries, in accordance with state money transmitter laws. Lucid owns the interest or other earnings on these investments. Lucid will not misappropriate use of customer funds for its operating expenses or any other corporate purposes. 2.9. Lucid Vault. You may elect to hold Supported Digital Assets in Lucid Vault. Lucid Vault allows you to create conditions around transfer of your Supported Digital Assets, which may include adding third-parties to approve withdrawals (“Approvers”). For the avoidance of doubt, title to Supported Digital Assets in the Lucid Vault shall at all times remain with you, and Approvers shall have no ownership interest in such Supported Digital Assets. 2.10. USDC Wallets. You may elect to buy USD Coin (“USDC”) from Lucid, a Digital Asset issued by Circle Internet Financial (“Circle”) and supported by Lucid. You are the owner of the balance of your USDC Wallet. Lucid is not the issuer of USDC, does not hold reserves for USDC, and has no obligation to repurchase your USDC for USD. You can redeem your USDC with Circle, and Lucid may also elect to repurchase your USDC in exchange for USD. 3. Payment Services, Purchase & Sale Transactions, and Credit Transactions 3.1. USD Funds. You can load funds into your USD Wallet from a valid bank account via ACH transfer or wire transfer. Your USD balance is in a pending state and will not be credited to your USD Wallet until after the bank transfer has cleared, usually within five (5) business days. We may debit your linked bank account as soon as you initiate payment. The name on your linked bank account and your wire transfer must match the name verified on your Lucid Account. 3.2. Transactions on the Lucid Site. When you buy or sell Supported Digital Assets on the Lucid Site (which, for clarity, does not include transactions with Third Party Services (as defined below)), you are not buying Supported Digital Assets from Lucid or selling Supported Digital Assets to Lucid. Lucid acts as the agent, transacting on your behalf, to facilitate that purchase or sale between you and other Lucid customers. You can purchase Supported Digital Assets on the Lucid Site using: (i) funds in your USD Wallet; (ii) Supported Digital Assets held in certain Digital Asset Wallets, as permitted by Lucid; (iii) a valid bank account in the name that matches the name on your Lucid Account; (iv) a debit or credit card that matches the name on your Lucid Account; (v) Google Pay; (vi) Apple Pay; (vii) PayPal; or (viii) a Lucid gift card (each a "Valid Payment Method"). Your purchase must follow the relevant instructions on the Lucid Site. Lucid reserves the right to cancel any transaction not confirmed by you within five (5) seconds after Lucid quotes a transaction price. A purchase of Supported Digital Assets using a Valid Payment Method generally will initiate on the business day we receive your instructions. Purchased Supported Digital Assets will usually be deposited in your Digital Asset Wallet instantly and can be exchanged for other Digital Assets. You will be able to sell or send Purchased Digital Assets as soon as funds have settled to Lucid, which in the case of a bank account or credit or debit card usually takes up to five (5) business days. You can sell Supported Digital Assets and instruct Lucid to deposit funds into your Lucid USD Wallet or, where supported, a Digital Asset Wallet. Supported Digital Asset purchases and sales on the Lucid Site are collectively referred to herein as “Digital Asset Transactions”. If Lucid cannot complete your Digital Asset Transaction for any reason (such as price movement, market latency, inability to find a counterparty for your transaction, or order size), Lucid will reject the order and notify you of such rejection. You will not be charged for a rejected transaction. 3.3. Fees. In general, Lucid makes money when you purchase or sell Supported Digital Assets on the Lucid Site. A description of the way fees are calculated can be found on our Pricing and Fees Disclosures Page. By using Lucid Services you agree to pay all fees and, if applicable based on the service, a spread. While Lucid reserves the right to adjust its pricing and fees and any applicable waivers at any time, we may provide at least 30 days’ prior notice of certain changes to our pricing schedule, or terms, conditions and policies to users in some states where required by applicable law. We will also notify you of the final price of each transaction, inclusive of pricing and fees, when you authorize the transaction and in each receipt we issue to you. We may charge network fees (miner fees) to process a Digital Asset Transaction on your behalf. We will calculate the network fee at our discretion, and notify you of the network fee at or before the time you authorize the Digital Asset Transaction. Bank fees charged to Lucid are netted out of transfers to or from Lucid. You are responsible for paying any additional fees charged by your financial service provider. We will not process a transfer if associated bank fees exceed the value of the transfer. You may be required to deposit additional USD to cover bank fees if you desire to complete such a transfer.