Risk Disclosure Statement
1. High price volatility
The value of Digital Assets is entirely derived by market forces of supply and demand, and they are much more volatile than most of the traditional fiat currencies and commodities.
2. Legal Risk
The legality of Digital Assets, trading of them, buying of them or possession may not be clear and may vary under the laws of different jurisdictions throughout the world. This mean that the legality of engaging in Digital Assets transaction is not always clear. Whether and on what basis a Digital Asset may constitute property, an asset, or a right of any kind, might vary from one jurisdiction to another. You are responsible for knowing and understanding how the laws applicable to You or your property, rights or assets, limit, regulate, and tax the Digital Assets You use.
3. Limited Supervision
Most Virtual Assets markets are not regulated or supervised by any relevant authorities. There is no centralized authority or entity that can take measures to protect the value of a Digital Asset in a crisis or adjust its supply.
4. Irreversible transactions
Due to decentralized nature, transactions with Digital assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. BitSwapNow shall process only that Digital Assets which are transferred as a part of transaction made through the Website or API (or other tools, administered by BitSwapNow) to the address, indicated in the course of such transactions. BitSwapNow bear no responsibility for any accidental transaction, including but not limited to any transfer to the incorrect or inactive cryptocurrency wallet address, even if such an address have been used for previous User’s transactions. However, BitSwapNow upon the User’s request will make every possible efforts to support Users with tracking accidental transaction within six (6) month from the date of transaction made and will foster all efforts to return such Digital Assets to the owner if it is technically possible. All the claims being served upon the expiry of indicated period shall be disregarded. All the fees charged for return transactions shall be paid by the User.
5. The blockchains on which Digital Assets operate may temporarily or permanently fork
6. Dependence of Internet
There are risks associated with using an internet-based transaction execution software including, but not limited to, the failure of hardware and software. BitSwapNow maintains an independent and secure ledger of all transaction to minimize loss, and maintains contingency plans to minimize the possibility of system failure; however, BitSwapNow does not control signal power, reception, routing via the internet, configuration of Your equipment or the reliability of Your connection to the Internet. The result of any failure of the foregoing may be that Your transaction is either not executed according to Your instructions, or is not executed at all.
7. Unanticipated Risks
Digital Assets and blockchain technology are new technology. In addition to these risks, there are other risks associated with Your acquisition, storage, transfer and use of any Digital Asset, including those that we may not be able to anticipate. Such risks may further materialize as unanticipated variations or combinations of these risks.