Usage Policy

Purpose & Limitations

Elecsafe hardware wallets are purpose-built devices designed exclusively for the secure storage and management of cryptocurrency and NFT private keys. Our devices operate under strict functional limitations to ensure regulatory compliance and security focus.

Primary Functions

• Private Key Storage: Secure generation, storage, and management of cryptocurrency private keys using tamper-resistant hardware security modules
• Transaction Signing: Cryptographic signing of blockchain transactions without exposing private keys to connected devices
• Seed Phrase Management: Generation and secure backup of BIP39/BIP44 compatible recovery phrases
• Multi-Currency Support: Storage of private keys for multiple cryptocurrency protocols and blockchain networks
• Authentication Services: Secure authentication for compatible wallet software and applications

Explicit Functional Limitations

To maintain regulatory compliance and security focus, Elecsafe hardware wallets explicitly do NOT provide:

• Trading Services: No buying, selling, or exchange of cryptocurrencies or digital assets
• Brokerage Functions: No investment advice, portfolio management, or financial planning services
• Exchange Integration: No direct integration with cryptocurrency exchanges or trading platforms
• Payment Processing: No merchant payment processing or point-of-sale functionality
• Custodial Services: No third-party key management or asset custody services
• Financial Services: No lending, borrowing, staking, or yield generation services
• Market Data: No real-time pricing, market analysis, or investment recommendations

Security Architecture and Requirements

Elecsafe hardware wallets implement comprehensive security measures designed to protect private keys against various attack vectors while maintaining usability and regulatory compliance.

Isolated Secure Element Architecture

• Hardware Security Module: Common Criteria EAL5+ certified secure element chip provides tamper-resistant key storage and cryptographic operations
• Air-Gap Design: No permanent internet connection or wireless communication capabilities to prevent remote attacks
• Secure Boot Process: Cryptographically verified firmware loading prevents unauthorized code execution
• Side-Channel Protection: Advanced countermeasures against power analysis, timing attacks, and electromagnetic interference
• Physical Tamper Detection: Hardware-level detection and response to physical intrusion attempts

Authentication and Access Control

• PIN Protection: User-defined PIN code (4-8 digits) required for device access with automatic lockout after failed attempts
• Passphrase Support: Optional BIP39 passphrase (25th word) for additional security layer and plausible deniability
• Secure Display: Built-in screen for transaction verification and secure PIN entry without host device exposure
• Physical Confirmation: Manual button press required for all critical operations including transaction signing
• Session Management: Automatic device lock after inactivity periods to prevent unauthorized access

Backup and Recovery System

• Seed Phrase Generation: Hardware-based true random number generation for entropy in seed phrase creation
• BIP39 Compatibility: Standard 12, 18, or 24-word mnemonic phrases for universal wallet compatibility
• Offline Backup: Seed phrase generation and backup performed entirely offline without network exposure
• Recovery Verification: Built-in seed phrase verification to ensure accurate backup before first use
• Multiple Backup Options: Support for paper backup, metal storage, and secure digital backup methods

Open Source Firmware Requirements

• Transparent Code: Complete firmware source code available for public review and verification
• Independent Audits: Regular security audits by third-party cybersecurity firms and academic institutions
• Community Verification: Open development process allowing community contribution and security review
• Reproducible Builds: Deterministic build process enabling users to verify firmware authenticity
• Update Verification: Cryptographically signed firmware updates with user verification before installation

Legal Requirements and Regulatory Compliance

Elecsafe hardware wallets are designed to comply with international regulations while minimizing regulatory burden on users. However, users must understand and comply with applicable laws in their jurisdiction.

Device Regulatory Status

• No KYC/AML Requirements: The hardware device itself is not subject to Know Your Customer or Anti-Money Laundering regulations as it provides no financial services
• Consumer Electronics Classification: Devices are classified as consumer electronics and security hardware, not financial instruments
• Export Control Compliance: Devices comply with international export control regulations for cryptographic hardware
• CE/FCC Certification: Hardware meets electromagnetic compatibility and safety standards for consumer electronics
• Data Protection Compliance: Manufacturing and support processes comply with GDPR and international privacy regulations

User Legal Responsibilities

• Local Law Compliance: Users must ensure their use of cryptocurrency hardware wallets complies with all applicable laws in their jurisdiction
• Import/Export Regulations: Users are responsible for complying with import and export regulations for cryptographic devices when traveling or shipping internationally
• Tax Obligations: Users must comply with all tax reporting and payment obligations related to cryptocurrency holdings and transactions
• Regulatory Changes: Users must stay informed about changing regulations that may affect cryptocurrency use in their jurisdiction
• Prohibited Jurisdictions: Users in jurisdictions where cryptocurrency use is prohibited must not use our devices for illegal activities

Import and Export Considerations

• Cryptographic Hardware: Devices may be subject to import/export controls as cryptographic hardware in some jurisdictions
• Documentation Requirements: Users may need to declare devices when crossing international borders
• Licensing Requirements: Some jurisdictions may require licenses for importing or using cryptographic devices
• Restricted Countries: We do not ship to countries under international sanctions or with specific cryptocurrency prohibitions
• User Verification: Users are responsible for verifying legal requirements before ordering or using devices internationally

Risk Disclosure and Liability Limitations

Users must understand the inherent risks associated with cryptocurrency storage and the limitations of manufacturer liability. Elecsafe provides security hardware but cannot eliminate all risks associated with cryptocurrency ownership.

Seed Phrase and Key Recovery Risks

• Permanent Loss Risk: Loss, theft, or destruction of the seed phrase results in permanent and irreversible loss of all stored cryptocurrency assets
• No Recovery Services: Elecsafe cannot and does not provide seed phrase recovery, private key restoration, or asset recovery services
• User Sole Responsibility: Users are solely responsible for secure backup, storage, and protection of their seed phrases and recovery information
• Multiple Backup Recommendation: Users should create multiple secure backups of seed phrases stored in different physical locations
• Inheritance Planning: Users should consider secure methods for transferring access to heirs or beneficiaries

Market Value and Investment Risks

• No Market Liability: Elecsafe is not responsible for cryptocurrency market value fluctuations, investment losses, or portfolio performance
• Volatility Risk: Cryptocurrency values can fluctuate dramatically and may result in significant financial losses
• Total Loss Possibility: Cryptocurrencies may become worthless due to market conditions, regulatory changes, or technical failures
• No Investment Advice: Elecsafe provides no investment advice, recommendations, or guidance regarding cryptocurrency investments
• User Investment Decisions: All investment decisions and their consequences are solely the responsibility of the user

Technical and Operational Risks

• Hardware Failure: While rare, hardware failures may occur and could potentially affect device functionality
• Firmware Risks: Firmware updates, while security-focused, may introduce new bugs or compatibility issues
• User Error: Incorrect device usage, configuration errors, or operational mistakes may result in asset loss
• Compatibility Changes: Future changes to cryptocurrency protocols may affect device compatibility
• Third-Party Software: Issues with third-party wallet software may affect device functionality or user experience

Liability Limitations

• Maximum Liability: Our total liability is limited to the purchase price of the hardware device
• No Consequential Damages: We are not liable for indirect, incidental, or consequential damages including lost profits or assets
• Security Limitations: While we implement advanced security measures, no system is completely immune to all possible attacks
• User Responsibility: Users assume all risks associated with cryptocurrency ownership and storage
• Force Majeure: We are not liable for failures due to circumstances beyond our reasonable control

Setup, Verification, and Support Requirements

Proper device setup and ongoing maintenance are critical for security and functionality. Users must follow established procedures and utilize available support resources.

Device Authenticity Verification

• Packaging Inspection: Verify tamper-evident packaging seals and security features before opening
• Serial Number Verification: Check device serial number against manufacturer database for authenticity
• Firmware Verification: Verify firmware signatures and checksums during initial setup
• Authorized Retailers: Purchase only from authorized distributors and official channels
• Security Hologram: Inspect and verify security hologram or tamper-evident features on device

Initial Setup Requirements

• Offline Generation: Generate seed phrase offline in a secure environment without network connectivity
• Secure Backup Creation: Create multiple secure backups of seed phrase before storing any assets
• PIN Configuration: Set strong PIN code and optional passphrase for device access
• Firmware Update: Install latest firmware version before first use for optimal security
• Test Recovery: Perform test recovery process to verify backup accuracy before storing significant assets

Network and Compatibility Verification

• Supported Networks: Verify that desired cryptocurrency networks are supported by device firmware
• Wallet Software: Ensure compatibility with preferred third-party wallet software applications
• Operating System: Confirm device compatibility with user's operating system (Windows, macOS, Linux, mobile)
• Connection Methods: Verify available connection methods (USB, Bluetooth) match user requirements
• Update Channels: Subscribe to official update notifications for firmware and compatibility information

Ongoing Maintenance Requirements

• Regular Updates: Install firmware updates promptly to maintain security and compatibility
• Backup Verification: Periodically verify backup integrity and accessibility
• Security Monitoring: Stay informed about security advisories and best practice updates
• Physical Security: Maintain secure storage and handling of device when not in use
• Documentation Review: Regularly review updated documentation and user guides

Available Support Channels

• Technical Documentation: Comprehensive user guides, API documentation, and troubleshooting resources
• Email Support: Technical support via contact@elecsafe.is for device-related issues
• Phone Support: Direct phone support at +354 639 5274 for urgent technical matters
• Community Resources: User forums, community guides, and peer support networks
• Security Advisories: Official security notifications and vulnerability disclosures

Advertising and Marketing Compliance

All advertising and marketing materials for Elecsafe hardware wallets comply with strict regulatory requirements, particularly Google Ads policies and financial services advertising regulations.

Permitted Advertising Content

• Key Storage Functionality: Advertisements may promote secure private key storage and management capabilities
• Security Features: Marketing may highlight security architecture, encryption, and tamper-resistance features
• Hardware Specifications: Technical specifications, compatibility, and device features may be advertised
• Regulatory Compliance: Compliance features and regulatory alignment may be promoted
• User Control: Self-custody and user sovereignty aspects may be emphasized in marketing

Prohibited Advertising Content

• Trading Services: No mention of buying, selling, trading, or exchange services in any advertising
• Investment Advice: No investment recommendations, profit promises, or financial advice in marketing materials
• Market Predictions: No cryptocurrency price predictions or market analysis in advertisements
• Guaranteed Returns: No promises of profits, returns, or investment performance
• Financial Services: No promotion of lending, borrowing, or other financial services

Required Legal Disclosures

• Limitation Disclosure: All advertisements must clearly state that devices provide storage only, not trading services
• Risk Warnings: Marketing must include appropriate risk warnings about cryptocurrency ownership
• Liability Limitations: Clear disclosure that manufacturer is not responsible for market value or asset loss
• User Responsibility: Advertisements must emphasize user responsibility for legal compliance and security
• Regulatory Compliance: Marketing must include disclaimers about regulatory requirements and user obligations

Platform-Specific Requirements

• Google Ads Compliance: All Google advertising strictly adheres to cryptocurrency advertising policies
• Social Media Guidelines: Social media marketing follows platform-specific cryptocurrency promotion rules
• Content Marketing: Educational content clearly distinguishes between information and promotion
• Influencer Guidelines: Any influencer partnerships include proper disclosure and compliance requirements
• International Variations: Marketing adapts to local advertising regulations in different jurisdictions

Contact Information and Support

For questions about this Usage Policy, compliance requirements, or technical support, please contact us:

We will respond to compliance and technical inquiries within 48 hours during business days. For urgent security matters, please indicate "URGENT SECURITY MATTER" in your subject line.