Terms of Use

The Backpack Wallet terms of use are the contract you accept when you install the wallet and start using it. They set out who can use Backpack, who's responsible when something goes wrong, what fees apply to swaps and how disputes get handled. Most people tick the box without reading a line.

That's risky with a crypto wallet, because the terms decide what help you can expect if you lose access or get scammed. Below is a plain English walkthrough of the main points, based on the terms posted on backpack.app. It's a summary, not legal advice, so read the full document before relying on any detail.

Who Can Use Backpack Wallet?

The terms say you must be at least 18 and able to form a binding contract. You also confirm that you aren't on any sanctions or restricted parties list, including those kept by the UN, the US and the EU.

You also confirm you aren't located in a country under a US embargo. And you confirm you're allowed to use the service under the laws that apply to you. In short, if local rules block you, the terms put that responsibility on you, not on Backpack.

Your Keys, Your Responsibility

This is the clause that matters most. The terms make you fully responsible for your wallet password, your recovery phrase, your private keys and any other access details. 200ms Labs states it cannot and will not restore or recover them for you.

The terms also say you should keep these details private and contact Backpack right away if you think someone else has access. If you lose funds because you didn't protect your credentials, the terms say Backpack isn't liable. Write your phrase down offline and keep it out of screenshots and cloud notes. Never share it with anyone claiming to be support.

What the Backpack Wallet Terms of Use Say About Fees

The 2023 terms state a flat 0.85% fee on swaps made through the wallet. They also say Backpack can change its fees at any time, so that figure may not be what you pay today.

You may pay third party and network fees on top. The terms note that fee estimates shown before a transaction can differ from what you're actually charged. The safest habit is to check the fee breakdown on the swap screen every time instead of relying on any number you read online, including this one.

Third Party Apps, NFTs and Asset Risks

Backpack lets you use apps built by its affiliates and by outside developers. The terms treat these as separate services with their own rules. You take on the risks of using them, including delays, being unable to reach your funds or losing them, and Backpack makes no promises about how they work.

The same goes for tokens and NFTs. The wallet may show signals that suggest something is verified. Even so, the terms say 200ms Labs doesn't vouch for the identity, legitimacy or authenticity of any asset. Checking that a token or collection is real is your job.