Legal aspects

To transfer tokens from the Tokiphy Wallet to a user's custom wallet on the Tokiphy Platform, only ERC721 and ERC1155 NFT standards can be used. This is because they are not considered crypto assets. However, if a user wants to use the Tokiphy Wallet for crypto asset-specific tokens, they will need to sign an additional agreement and complete a KYC (know-your-customer) procedure with a full identification process due to German regulations. This may also apply if there are any future changes to the regulations regarding NFT token standards and their legal qualifications.

If you receive tokens in the Tokiphy Wallet that are not ERC721 or ERC1155, the Tokiphy Platform will automatically block any attempts to transfer those tokens from the default wallet to a custom wallet.

After exporting a wallet, user-specific wallet imports of the wallet's private keys (such as on Metamask) are not subject to these limitations as we do not technically manage these wallet interactions.

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