Discover the possibilities of CRYPTO BOT's tailored solutions and its legalities
Risk Disclosure Statement
Last updated: 01-01-2021
This policy (the “Risk Disclosure Statement”) forms part of, and utilizes certain terms that are defined in the User Agreement and User is accepting and consenting to the risks described in this policy by accepting the User Agreement and using the Services. Using the Services involves significant risks. User should not use the Services unless User understands the associated risks. User should not use Funds for the Services that User is not prepared to lose entirely as there is an inherent risk that losses will occur as a result of using the Services. This Risk Disclosure Statement discusses some of the principal risks of the Services, but it does not and cannot disclose all risks and other (risk related) aspects involved in using the Services. User confirms to have had the opportunity to ask questions and receive answers from CRYPTO BOT concerning the risks related to the Services prior to using the Services. Please read the following carefully to understand the principal risks related to the Services.
Risks and other uncertainties associated with the Services include, but are not limited to, the following:
- The legal classification of (certain) Digital Assets may not be clear and may vary under the laws of different jurisdictions throughout the world. Whether and on what basis a Digital Asset may constitute ‘property’, an ‘asset’ or a ‘right of any kind’ and might vary from jurisdiction to another. This can mean that the legality of the Services to Digital Assets in a specific jurisdiction may be uncertain. User is aware of this legal risk and is responsible for knowing and understanding how Digital Assets and the Services to these Digital assets will be addressed, regulated and taxed under the law as applicable to User.
- Unlike most currencies or assets, which are backed by governments or other legal entities, or by other commodities such as gold or silver, Digital Assets are a unique type of asset, backed by technology and trust. Whether the future market price for a Digital Asset will move up or down is a speculation and unknowable and Digital Assets may even become worthless. There is no central bank or other third party that can take corrective measures to protect the value of a Digital Asset. User is aware of this market risk and should be cautious about Digital Assets.
- CRYPTO BOT does not offer securities services, is not registered under the financial supervision or securities laws of any jurisdiction and the provision of the Services has not been and will not be registered under the financial supervision or securities laws of any jurisdiction or otherwise approved by financial or securities regulators in any jurisdiction.
- Markets for Digital Assets have varying degrees of liquidity. Some are quite liquid while others may be ‘illiquid’, which means there can be a scarcity of Users who are willing to trade at any one time. Thinly traded or illiquid markets have potential increased risk of loss because they can experience high volatility of prices and in such markets market participants may find it impossible to liquidate market positions except at very unfavourable prices. There is no guarantee that the markets for any Digital Asset allow you to establish or liquidate positions at favourable prices or will be even active and liquid when desired.
User should carefully assess whether User’s financial situation and tolerance for risk is suitable for using the Services.