Privacy Policy
Last Updated: April 27, 2025
Introduction
ChainPal ("we," "our," or "us") respects your privacy and is committed to protecting your personal information. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our platform, website, applications, and services (collectively, the "Services").
Please read this Privacy Policy carefully. By accessing or using our Services, you acknowledge that you have read, understood, and agree to be bound by this Privacy Policy. If you do not agree with our policies and practices, please do not use our Services.
Table of Contents
Information We Collect
How We Use Your Information
Information Sharing and Disclosure
Data Security
Data Retention
Cookies and Tracking Technologies
Your Privacy Rights
International Data Transfers
Children's Privacy
Changes to This Privacy Policy
Contact Us
1. Information We Collect
We collect several types of information from and about users of our Services, including:
1.1 Personal Information
Registered Users
When you create an account with ChainPal, we collect:
Identity Information: Full name, username, date of birth, nationality, and other identifying information necessary for KYC (Know Your Customer) compliance.
Contact Information: Email address, phone number, and mailing address.
Account Information: Login credentials, password (encrypted), security questions, and authentication details.
Financial Information: Payment method details, banking information, credit card information (processed securely through our payment processors), cryptocurrency wallet addresses, and transaction history.
Verification Documents: Government-issued identification, proof of address, and other documentation required for identity verification and compliance with regulations.
Unregistered Users
Even if you do not register for an account, we collect:
Technical Data: IP address, device information, browser type and version, operating system, and other technology identifiers on the devices you use to access our Services.
Usage Data: Information about how you interact with our Services, including pages visited, features used, time spent, and referring/exit pages.
Location Data: General geographic location derived from your IP address or device settings.
1.2 Non-Personal Information
Aggregated Data: Statistical or demographic data that does not directly identify you.
Anonymous Usage Data: Information collected through cookies and similar tracking technologies about your use of our Services and other websites.
Market Analysis Data: Anonymized transaction patterns and trading behavior used for market trend analysis.
1.3 Information From Third Parties
We may collect information about you from third-party sources, including:
Business partners and service providers.
Identity verification and fraud prevention services.
Public databases and identity verification agencies.
Social media platforms, if you choose to link your accounts.
2. How We Use Your Information
We use the information we collect for various purposes, including:
2.1 Provide, Maintain, and Improve Our Services
Process transactions and execute orders.
Create and maintain your account.
Provide customer support and respond to inquiries.
Develop new products, services, and features.
Conduct research and analysis to improve user experience.
Personalize your experience and deliver content relevant to your interests.
2.2 Security and Compliance
Verify your identity and prevent fraud.
Detect and prevent security incidents.
Comply with legal obligations, including anti-money laundering (AML) and counter-terrorism financing (CTF) requirements.
Enforce our Terms of Service and other policies.
Protect the rights, property, and safety of ChainPal, our users, and others.
2.3 Communication
Send administrative messages, security alerts, and support notifications.
Provide updates about changes to our Services, policies, or terms.
Deliver marketing communications about products, services, and promotions (with your consent where required by law).
Respond to your comments, questions, and customer service requests.
2.4 Analytics and Marketing
Analyze usage patterns and trends to optimize our Services.
Measure the effectiveness of marketing campaigns.
Conduct market research and surveys.
Create anonymized and aggregated data sets for business insights.
3. Information Sharing and Disclosure
We may share your information in the following circumstances:
3.1 Service Providers
We share information with third-party vendors, consultants, and other service providers who need access to such information to perform services on our behalf, including:
Payment processors and financial institutions.
Cloud hosting and data storage providers.
Analytics and market research companies.
Customer support and communication platforms.
Identity verification and fraud prevention services.
All service providers are contractually obligated to use your information only for the purposes of providing services to us and in compliance with applicable privacy laws.
3.2 Legal Requirements
We may disclose your information if required to do so by law or in response to valid requests by public authorities (e.g., court orders, subpoenas, or government requests). This includes:
Complying with legal process or government requests.
Protecting our rights, property, and safety.
Detecting, preventing, or addressing fraud, security, or technical issues.
Preventing harm to the rights, property, or safety of our users or the public.
3.3 Business Transfers
If ChainPal is involved in a merger, acquisition, financing, reorganization, bankruptcy, or sale of company assets, your information may be transferred as part of that transaction. We will notify you via email and/or a prominent notice on our website of any change in ownership or uses of your personal information.
3.4 With Your Consent
We may share your information with third parties when you have given us your consent to do so.
3.5 Aggregated or De-identified Data
We may share aggregated or de-identified information that cannot reasonably be used to identify you.
4. Data Security
We implement appropriate technical and organizational security measures to protect your personal information from unauthorized access, disclosure, alteration, or destruction. These measures include:
Encryption: All sensitive data is encrypted both in transit and at rest using industry-standard encryption protocols.
Access Controls: Strict access controls limit who can access your information within our organization.
Multi-factor Authentication: Critical systems require multiple forms of authentication.
Regular Security Audits: We conduct periodic assessments of our security measures.
Employee Training: Staff are trained on privacy and security best practices.
Incident Response Plan: Procedures are in place to address any potential data breaches promptly.
Despite our efforts, no method of transmission over the Internet or electronic storage is 100% secure. We cannot guarantee absolute security but are committed to protecting your personal information.
4.1 Data Breach Notification
In the event of a data breach that compromises your personal information, we will:
Notify affected users promptly in accordance with applicable laws.
Provide information about the breach and steps you can take to protect yourself.
Work with law enforcement and regulatory authorities as required.
Take immediate steps to contain and remediate the breach.
5. Data Retention
We retain your personal information for as long as necessary to fulfill the purposes outlined in this Privacy Policy, unless a longer retention period is required or permitted by law. The criteria used to determine our retention periods include:
The length of time we have an ongoing relationship with you.
Legal obligations to retain data for certain periods.
Regulatory requirements applicable to financial services.
Statute of limitations for potential legal claims.
5.1 Account Closure
When you close your account, we will:
Delete or anonymize your personal information within 90 days, except as noted below.
Retain certain information as required by law or for legitimate business purposes, such as:
Records necessary for financial reporting and auditing.
Information required for AML compliance (typically 5-7 years).
Data necessary to resolve disputes or enforce our agreements.
You can request deletion of your data as described in the Your Privacy Rights section.
6. Cookies and Tracking Technologies
We use cookies, web beacons, pixels, and similar tracking technologies to collect information about your browsing activities and to distinguish you from other users of our Services.
6.1 Types of Cookies We Use
Essential Cookies: Necessary for the operation of our Services, enabling core functionality.
Analytical/Performance Cookies: Allow us to recognize and count visitors and analyze how users navigate our Services.
Functionality Cookies: Enable us to personalize content and remember your preferences.
Targeting Cookies: Record your visits to our website, the pages you visit, and the links you follow to deliver relevant advertisements.
6.2 Your Cookie Choices
Most web browsers allow you to control cookies through browser settings. You can:
Block cookies by activating settings on your browser that refuse all or some cookies.
Delete cookies after each browsing session.
Configure your browser to notify you when websites set or access cookies.
Please note that if you disable or refuse cookies, some parts of our Services may become inaccessible or not function properly.
6.3 Do Not Track
Some browsers have "Do Not Track" features that send a signal to websites you visit. Our Services do not currently respond to "Do Not Track" signals.
7. Your Privacy Rights
Depending on your location, you may have certain rights regarding your personal information. These may include:
7.1 Access and Portability
The right to request access to your personal information.
The right to receive your personal information in a structured, commonly used, and machine-readable format.
7.2 Correction and Deletion
The right to correct inaccurate or incomplete personal information.
The right to request deletion of your personal information in certain circumstances.
7.3 Restriction and Objection
The right to restrict processing of your personal information.
The right to object to processing of your personal information.
7.4 Consent Withdrawal
The right to withdraw consent at any time where we rely on consent to process your personal information.
7.5 Complaint
The right to lodge a complaint with a supervisory authority.
7.6 How to Exercise Your Rights
To exercise any of these rights, please contact us using the information provided in the Contact Us section. We will respond to your request within 30 days or as required by applicable law.
We may need to verify your identity before fulfilling your request. In some cases, we may deny your request if permitted by law, in which case we will explain the reason for denial.
8. International Data Transfers
ChainPal operates globally, which means your information may be transferred to, stored, and processed in countries other than the one in which you reside. These countries may have data protection laws that differ from those in your country.
When we transfer personal information across borders, we take appropriate safeguards to ensure your information receives adequate protection, including:
Standard Contractual Clauses (SCCs) approved by the European Commission.
Data Processing Agreements with our service providers.
Adherence to frameworks like the EU-US Data Privacy Framework where applicable.
By using our Services, you consent to the transfer of your information to countries outside your country of residence, including the United States, which may have different data protection rules.
9. Children's Privacy
Our Services are not intended for individuals under the age of 18 (or the applicable age of majority in your jurisdiction). We do not knowingly collect personal information from children. If you become aware that a child has provided us with personal information without appropriate parental consent, please contact us, and we will take steps to delete such information.
10. Changes to This Privacy Policy
We may update this Privacy Policy from time to time to reflect changes in our practices or for other operational, legal, or regulatory reasons. When we make material changes to this Privacy Policy, we will:
Post the updated policy on our website with a "Last Updated" date.
Notify you via email and/or through a notice on our website before the changes become effective.
Obtain your consent to the changes when required by applicable law.
We encourage you to review this Privacy Policy periodically to stay informed about our information practices.
11. Contact Us
If you have questions, concerns, or requests regarding this Privacy Policy or our privacy practices, please contact our Data Protection Officer:
Email: privacy@chainpal.com Postal Address: Akure, Nigeria Data Protection Officer: Michael Jimoh
By using ChainPal Services, you acknowledge that you have read and understood this Privacy Policy.
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