54052.co.za Terms of Service

Effective Date: 26 July 2026

1. Who We Are

54052.co.za is owned and operated by Port 8333 (Pty) Ltd (Registration Number 2022/585477/07) ("Port 8333", "we", "our" or "us"), a company incorporated in the Republic of South Africa.

Port 8333 (Pty) Ltd is an authorised Financial Services Provider (FSP No. 54052) licensed by the Financial Sector Conduct Authority ("FSCA") under the Financial Advisory and Intermediary Services Act, 37 of 2002 ("FAIS Act") to render financial services in respect of crypto assets. Port 8333 (Pty) Ltd is also an accountable institution under the Financial Intelligence Centre Act, 38 of 2001 ("FICA").

Registered contact details:

These Terms of Service (the "Terms") govern your access to and use of 54052.co.za (the "Site"), our USSD service accessible by dialing *134*7714*54052#, our mobile and desktop applications (the "App"), and the other services, features, products and content offered by us (together, the "Services"). As used in these Terms, "you" means the person who registers for or uses the Services.

By registering for or using the Services, you agree to be bound by these Terms, our Privacy and Data Protection Policy, and any additional terms we notify to you. If you do not agree, you must not use the Services.

2. Nature of the Services

54052.co.za is a custodial Bitcoin wallet. This means:

  • Bitcoin held in your wallet is held in custody by us on your behalf. You retain a claim against us for the Bitcoin balance reflected in your account.
  • We are not a bank. Your Bitcoin balance is not a bank deposit, is not legal tender, and is not protected by any deposit insurance scheme (including the Corporation for Deposit Insurance).
  • Your Bitcoin balance does not earn interest.
  • The Services allow you to receive, hold, send and spend Bitcoin (including over the Lightning Network), and to purchase Bitcoin through supported channels such as vouchers and bank payments, via USSD, the App or the Site.

We do not provide financial advice. Nothing in the Services, the Site, or our communications constitutes advice as defined in the FAIS Act, or a recommendation or solicitation to buy or sell any crypto asset. Any decision to purchase, hold or dispose of Bitcoin is your own. If you are unsure whether crypto assets are appropriate for you, please consult an authorised financial adviser.

3. Risk Warning

Crypto assets are high-risk. Before using the Services you should understand and accept that:

  • The price of Bitcoin is volatile. The value of your Bitcoin can rise or fall significantly over short periods, and you may lose some or all of the value of the funds you use to purchase Bitcoin.
  • Bitcoin transactions are irreversible. Once a transaction is confirmed on the Bitcoin or Lightning network, it cannot be reversed, cancelled or recalled. Payments sent to an incorrect address, phone number or invoice may be permanently lost.
  • Crypto assets are not guaranteed by any government or central bank. Past performance is not an indication of future performance.
  • Technology risk. The Services depend on the Bitcoin network, the Lightning Network, mobile network operators and other third-party infrastructure that we do not control.
  • Regulatory risk. The legal and regulatory treatment of crypto assets may change and may affect the Services or the value or usability of your Bitcoin.

You should not commit funds to Bitcoin that you cannot afford to lose.

4. Eligibility

To use the Services you must:

  • be at least 18 years old and have full legal capacity to enter into a binding agreement;
  • register with a mobile phone number that you lawfully control;
  • not be located in, or a resident of, a jurisdiction where use of the Services would be unlawful; and
  • not be subject to any sanctions administered by the United Nations, the South African government, or any other applicable sanctions authority.

5. Your Account and Security

  • Your wallet is linked to your mobile phone number. When you first access the Services you will be required to create a PIN, which is used to secure your wallet and confirm transactions.
  • You are responsible for keeping your PIN, your device and your SIM card secure. Do not share your PIN with anyone. We will never ask you for your PIN other than through the Services' normal authentication prompts.
  • You must notify us immediately at info@54052.co.za if you suspect unauthorised access to your account, or if you lose control of your mobile number (for example through loss, theft or an unauthorised SIM swap).
  • Any transaction confirmed with your PIN is treated as authorised by you, unless the transaction results from our fraud, wilful misconduct or negligence.
  • You may only open an account for yourself and may not use the Services on behalf of another person, except as permitted by law.

6. Customer Due Diligence (FICA) and Lawful Use

As an accountable institution under FICA, we are required by law to:

  • establish and verify the identity of our clients, and where applicable the source of funds, before or during the course of providing the Services;
  • request additional information or documentation from you at any time, and suspend or restrict the Services until such information is provided and verified;
  • monitor transactions, keep records, and report certain transactions and suspicious or unusual activity to the Financial Intelligence Centre ("FIC") without notice to you; and
  • freeze, restrict or terminate accounts, and decline or reverse transactions, where required by law, court order, sanctions obligations or a directive of a competent authority.

You agree that you will not use the Services:

  1. for any unlawful purpose, including money laundering, terrorist financing, sanctions evasion, fraud, or the purchase or sale of illegal goods or services;
  2. to cause malicious harm to other computers or networks, or to interfere with, disrupt or place an unreasonable load on the Services;
  3. to infringe the rights of any third party; or
  4. in breach of any applicable law, including South African exchange control regulations that may apply to you.

We may suspend or terminate the Services for breach of this section as set out in section 12.

7. Transactions

  • You are solely responsible for verifying the recipient details of any transaction (phone number, Bitcoin address, Lightning invoice or lightning address) before confirming it. Confirmed transactions cannot be reversed by us.
  • We may set minimum or maximum transaction limits, and may adjust these where required by law or for risk-management purposes.
  • Purchases of Bitcoin are executed at the exchange rate displayed to you at the time of the transaction. Exchange rates include applicable fees and may differ from rates quoted elsewhere.
  • On-chain Bitcoin transactions may require network (miner) fees, and confirmation times depend on the Bitcoin network and are outside our control.

8. Fees

  • We charge a 1% transaction fee on spends from your wallet. Fees are displayed or made available to you before you confirm a transaction.
  • The current fee schedule is available on the Site and through our support channels. We will notify you in advance of any fee changes.
  • Your mobile network operator may charge you for USSD sessions, data or SMS used to access the Services. These charges are levied by your operator, not by us, and are your responsibility.

9. Taxes

You are solely responsible for determining and paying any taxes that apply to your purchase, sale, receipt or disposal of Bitcoin, including any obligations you may have to the South African Revenue Service. We do not provide tax advice.

10. Service Availability

We aim to make the Services available at all times, but we do not guarantee uninterrupted or error-free operation. The Services depend on third parties — including mobile network operators, USSD gateway providers, banking partners and the Bitcoin and Lightning networks — whose availability we do not control. We may suspend the Services temporarily for maintenance, upgrades or security reasons, and will restore availability as soon as reasonably possible.

11. Limitation of Liability

Nothing in these Terms excludes or limits our liability for fraud, wilful misconduct or gross negligence, or any other liability that cannot lawfully be excluded or limited under South African law, including the Consumer Protection Act, 68 of 2008, where it applies.

Subject to the above:

  • the Services are provided "as is" and "as available", and we make no warranty that they will meet your requirements or be uninterrupted or error-free;
  • we are not liable for losses caused by events beyond our reasonable control, including failures of mobile networks, banking systems, the Bitcoin or Lightning networks, power or telecommunications infrastructure, or acts of government;
  • we are not liable for losses arising from your failure to keep your PIN, device or SIM card secure, or from transactions you confirmed with incorrect recipient details; and
  • to the extent permitted by law, our total aggregate liability to you arising out of or in connection with the Services is limited to the value of the fees you paid to us in respect of the transaction(s) giving rise to the claim, or, where no fee was paid, the balance held in your wallet at the time the claim arose.

We are not liable for any change in the market value of Bitcoin.

12. Suspension and Termination

  • By you: You may stop using the Services and close your account at any time by withdrawing your balance and contacting us at info@54052.co.za.
  • By us: We may suspend or terminate your access to the Services, with reasonable notice where practicable, if you materially breach these Terms, if required by law or a competent authority, or if we reasonably suspect fraud, unlawful activity or a security compromise. Where the law requires us to act without notice (for example under FICA or sanctions legislation), we will do so.
  • On termination, and subject to applicable law (including any freezing or reporting obligations), you will be given a reasonable opportunity to withdraw the Bitcoin balance held in your wallet. Fees already incurred are not refundable.

13. Deceased Estates

If an account holder dies, the balance held in their wallet forms part of their deceased estate. We will release the balance to the executor of the estate on receipt of satisfactory proof of death, letters of executorship and such verification as we or the law require.

14. Complaints

We are committed to treating our customers fairly and resolving complaints promptly.

Step 1 — Contact us. Send your complaint to info@54052.co.za with your phone number and a description of the issue. We will acknowledge your complaint, investigate it, and respond to you with an outcome. A copy of our complaints management framework is available on request.

Step 2 — The FAIS Ombud. If your complaint relates to a financial service we rendered and you are not satisfied with our response, or we have not resolved it within 6 (six) weeks, you may refer it to the Ombud for Financial Services Providers (FAIS Ombud), free of charge:

  • Website: www.faisombud.co.za
  • Email: info@faisombud.co.za
  • Telephone: 012 762 5000 / Sharecall 086 066 3274
  • Physical address: 125 Dallas Avenue, Menlyn Central, Waterkloof Glen, Pretoria, 0010
  • Postal address: P.O. Box 41, Menlyn Park, 0063

You may also contact the Financial Sector Conduct Authority (FSCA): www.fsca.co.za, telephone 0800 20 3722 (0800 20 FSCA).

15. Privacy

We process your personal information in accordance with the Protection of Personal Information Act, 4 of 2013 ("POPIA") and our Privacy and Data Protection Policy, which forms part of these Terms.

16. Intellectual Property

The Site, the App, the Services and all related content, trademarks and software are owned by or licensed to Port 8333 (Pty) Ltd. You are granted a limited, non-exclusive, non-transferable licence to use the Services for their intended purpose. You may not copy, modify, reverse-engineer or distribute any part of the Services except as permitted by law.

17. Changes to these Terms

We may amend these Terms from time to time. We will notify you of material changes — through the Services, by SMS, or by notice on the Site — before they take effect, and the effective date at the top of this document will be updated. If you do not agree to the amended Terms, you must stop using the Services and may withdraw your balance and close your account. Your continued use of the Services after the effective date constitutes acceptance of the amended Terms.

18. General

  • Governing law: These Terms are governed by the laws of the Republic of South Africa, and you consent to the jurisdiction of the South African courts. Nothing in these Terms deprives you of any right you may have to refer a complaint to the FAIS Ombud or any other statutory ombud or regulator.
  • Severability: If any provision of these Terms is found to be unlawful or unenforceable, that provision will be severed and the remaining provisions will continue in full force.
  • No waiver: Our failure to enforce any provision of these Terms is not a waiver of that provision.
  • Entire agreement: These Terms, together with the Privacy and Data Protection Policy and any product-specific terms we notify to you, constitute the entire agreement between you and us regarding the Services.
  • Contact: Questions about these Terms may be sent to info@54052.co.za.