Non-Custodial Wallet Terms
Last updated: June 2026
What self-custody means
Baysart is a non-custodial (self-custody) crypto wallet. This means that only you control your digital assets; Baysart MMC (the «provider» or «we») does not hold, manage, or control them on your behalf.
The app is software that you control. It provides the means to generate, store, and use your cryptographic keys and to interact with blockchain networks. The assets themselves remain on the blockchain, not inside the app.
By accepting these Terms you understand that exclusive control over your assets — and therefore primary responsibility for their security — rests with you.
- You control the keys, not us.
- The app is a tool to access your keys, not a custodian of your assets.
- On-chain transactions are signed on your device and authorised by you.
Keys stay on your device
Your 12-word BIP39 seed phrase and all private keys derived from it are generated on your device and encrypted with AES-256. Your seed phrase and your unencrypted private keys are never transmitted to the provider's servers.
All transaction signing is performed locally on your device. The provider never gains access to your unencrypted private keys.
The app may offer an optional, encrypted backup of your seed phrase. This backup can be decrypted only with your PIN; the provider cannot decrypt it and cannot access your seed phrase in cleartext.
- Seed phrase and keys are generated on your device and encrypted with AES-256.
- Keys are never transmitted to the provider.
- Signing happens locally on your device.
- The optional backup can be opened only with your PIN; the provider cannot decrypt it.
Loss of the seed phrase is irreversible
WARNING: If you lose your seed phrase (together with any backup and PIN), you permanently and IRREVERSIBLY lose access to your funds. This means permanent loss of funds.
The provider CANNOT recover, reset, or replace your seed phrase. We do not and cannot hold a copy of it, because it is never transmitted to us.
This is fundamentally different from traditional online services that can reset a password for a user who has forgotten it. In self-custody there is no such «password reset» mechanism. Storing your seed phrase and PIN securely is entirely your responsibility.
- Loss of seed + backup + PIN = permanent and irreversible loss of funds.
- The provider cannot recover a lost seed phrase.
- No «password reset» equivalent exists.
The provider has no control
Because the keys are self-custodied, the provider cannot move, freeze, reverse, or seize your assets. Only you, with your keys, can authorise a transaction.
Blockchain transactions are irreversible once broadcast to the network. We cannot cancel a broadcast transaction, reverse it, or retrieve funds that have been sent.
It is therefore your responsibility to carefully verify the recipient address, amount, network, and fees before confirming. Funds sent to the wrong address or on the wrong network may not be recoverable.
- The provider cannot move, freeze, reverse, or seize self-custodied assets.
- Broadcast blockchain transactions are irreversible.
- A wrong address or network can cause permanent loss of funds.
Recovery mechanisms
If you lose your device or your access to the app, balanced recovery options are available. You can restore your wallet from your 12-word seed phrase; any compatible BIP39 wallet holding the seed phrase will re-derive the same keys and balances.
If you enabled the optional encrypted backup, you can also recover by decrypting it with your PIN on a new device. This backup is opened only with your PIN.
These mechanisms have limits: if both the seed phrase and the PIN for the backup are lost, recovery is not possible. Recovery is possible only for someone who knows these access secrets; the provider does not hold these secrets and cannot perform recovery on your behalf. This reflects the recovery options available consistent with Article M25.2.5.4 of the forthcoming law.
- Restore from the 12-word seed phrase.
- Restore from the optional PIN-encrypted backup.
- Limit: if the seed and the PIN/backup are lost at the same time, recovery is not possible.
User security duties
Consistent with the principles of Article M22 of the forthcoming law, it is your duty to keep your keys and device secure. You must safeguard your seed phrase, your PIN, and your device.
You must store your seed phrase offline in a trusted place, never share it with anyone, and avoid keeping digital photos, screenshots, or cloud copies of it.
If you suspect that your device has been lost, stolen, or compromised, you must immediately move your funds to a new, secure wallet and enable the available protections (PIN, device lock, biometrics).
- Store the seed phrase offline and never share it with anyone.
- Protect your PIN and device; enable the available protections.
- In case of loss or compromise, act immediately and move funds to a secure wallet.
Supported assets
The app supports the following blockchain networks: Bitcoin, Polygon, and Solana. Supported assets include BTC, AZNS, USDC, and USDT.
Each asset exists on the network to which it belongs. Send funds only to a matching address on the correct network for that asset. Sending to the wrong network or an incompatible address may cause permanent loss of funds.
Always verify addresses carefully. Before transferring, confirm the full character-by-character match of the address and the correct network selection.
- Networks: Bitcoin, Polygon, Solana.
- Assets: BTC, AZNS, USDC, USDT.
- Verify the address and network before every transfer.
Software licence
The provider grants you a personal, non-exclusive, non-transferable, and revocable licence to use the app, solely in accordance with these Terms. This licence transfers no ownership rights in the software underlying the app.
The app is provided «as is» and «as available». The provider does not warrant that the service will be uninterrupted, error-free, or continuously available. Blockchain networks, infrastructure providers, and third-party service providers may affect availability for reasons beyond the provider's control.
The provider may release updates for security, compatibility, and functionality. You are advised to install updates promptly to protect the security of your assets and the correct operation of the app. Because only you control your seed phrase, updates or deleting the app do not affect your funds — they remain on the blockchain and become accessible again with the seed phrase.
- Personal, non-exclusive, non-transferable, and revocable licence.
- The app is provided «as is»; no warranty of uninterrupted service.
- Install updates promptly; deleting the app does not affect funds on the blockchain.
Regulatory note
The provider is currently in a pre-licensing stage and is preparing for authorisation under Azerbaijan's forthcoming crypto-asset-markets law. The provider is not yet a licensed crypto-asset service provider.
Self-custody (cold / self-custody) key handling sits largely outside the custody-service duties of that law, because the provider does not hold or control the user's keys or assets. These Terms do not constitute, and should not be assessed as, activity requiring a licence or authorisation.
This section is for information only and is not legal advice. These Terms may be updated as the regulatory framework evolves.
- Status: pre-licensing stage; not yet a licensed provider.
- Self-custody key handling sits largely outside the custody-service duties.