Trading and financing trades in Cryptocurrencies entails certain risks. This risk disclosure statement cannot and does not disclose all risks and other aspects involved in holding, trading, or engaging in financing or financed transactions in Cryptocurrencies. Risks include, but are not limited to, the following:
Market Risk: The market for Cryptocurrencies is still new and uncertain. No one should have funds invested in Cryptocurrencies or speculate in Cryptocurrencies that she or he is not prepared to lose entirely. Whether the market for one or more Cryptocurrencies will move up or down, or whether a particular Cryptocurrency will lose all or substantially all of its value, is unknown. This applies both to traders that are going long and to traders that are shorting the market. Participants should be cautious about holding Cryptocurrencies.
Liquidity and Listing Risk: Markets for Cryptocurrencies have varying degrees of liquidity. Some are liquid while others may be thinner. Thin markets can amplify volatility. There is never a guarantee that there will be an active market for one to sell, buy, or trade Cryptocurrencies or products derived from or ancillary to them. Furthermore, any market for Cryptocurrencies may abruptly appear and vanish. GetEx makes no representations or warranties about whether a Cryptocurrency that may be traded on the Site may be traded on the Site any point in the future, if at all. Any Cryptocurrency is subject to delisting without notice or consent.
Legal Risk: The legal status of certain Cryptocurrencies may be uncertain. This can mean that the legality of holding or trading them is not always clear. Whether and how one or more Cryptocurrencies constitute property, or assets, or rights of any kind may also seems unclear. Participants are responsible for knowing and understanding how Cryptocurrencies will be addressed, regulated, and taxed under applicable law in the place of their sitting.
Exchange Risk (Counterparty Risk): Having Cryptocurrencies on deposit or with any third party in a custodial relationship has attendant risks. These risks include security breaches, risk of contractual breach, and risk of loss. Participants should be wary of allowing third parties to hold their property for any reason.
Trading Risk: In addition to liquidity risks, values in any Cryptocurrency marketplace are volatile and can shift quickly. Participants in any Cryptocurrencies market are warned that they should pay close attention to their position and holdings, and how they may be impacted by sudden and adverse shifts in trading and other market activities.
Risks Associated with Financing Activities: When you finance a purchase or sale of Cryptocurrencies on a peer-to-peer basis, you run the risk of losing your provided financing. Similarly, when you accept financing to enter a trading agreement, you accept the risk of not being able to repay that financing (e.g., if the market price of the Cryptocurrency you purchased with the financing falls). Participants should know all of the terms of any contracts they enter and how their trading strategies and other market and risk factors can affect their financing obligations.
Risk of software weaknesses: Participants understand and accept that involved software and technology and technical concepts and theories are still in an early development stage and unproven, and there is no warranty that the process for receiving, use and ownership of Cryptocurrencies will be uninterrupted or error-free and there is an inherent risk that the software, Cryptocurrencies and related technologies and theories could contain weaknesses, vulnerabilities or bugs causing, inter alia, the partial or complete: loss of Cryptocurrencies; inability to use Cryptocurrencies; and/or lack of usefulness of Cryptocurrencies.
Risk of loss of your credentials: Participants understand and accept that if Balance credentials are lost or stolen, the obtained Cryptocurrencies will be unrecoverable and permanently lost. A private key, or a combination of private keys, is necessary to control and dispose of Cryptocurrencies stored in Balance. Accordingly, loss of requisite private key(s) associated with the Balance will result in loss of such Cryptocurrencies. Moreover, any third party that gains access to such password(s), including by gaining access to login credentials of a hosted Balance service participants use, may be able to misappropriate your Cryptocurrencies. Any errors or malfunctions caused by or otherwise related to the Balance chosen by a participant to receive and store Cryptocurrencies, including participant’s own failure to properly maintain or use such Balance, may also result in the loss of Cryptocurrencies.
Risk associated with Cybercrime: The acquisition and management of Cryptocurrencies and Cryptocurrencies is inherently subject to the risk of cybercrime that is difficult to manage and mitigate. This may result in concerted attempts and even successful attempts to hack the Cryptocurrency Sale, SCS and the Sites and software used to manage contributions received in respect of Cryptocurrencies and other software or technology components and to defraud participants and GetEx. GetEx may be subject to unauthorized access, hacking and/or theft of some of Cryptocurrency and Cryptocurrency assets and it may not be possible to successfully insure against the same at a reasonable price or at all. GetEx is not required to insure the assets of the Cryptocurrency Exchange and does not intend to insure the same. Any unauthorized access or cybercrime may result in theft, loss, or inability to access accounts, affecting the ability to issue Cryptocurrencies, and GetEx bears no responsibility over such unlawful acts.