General Risk Disclosure for Crypto Assets
This Risk Disclosure is intended to provide information about the risks associated with Crypto Assets. Your transactions in Crypto Assets can lead to significant financial losses. As a result of your trading transactions in Crypto Assets, you can make a profit as well as a loss, you can lose all of your investments. Therefore, before you decide to execute your trades, you should understand and recognize all the risks in the market and make decisions taking into account your financial situation.
Market prices for Crypto Assets can fluctuate unpredictably in a very short period of time. Due to the content of Crypto Assets, you can make a profit as a result of your transactions as well as the risk of loss. Regarding Crypto Assets, there are risks of cyber-attacks, theft, various security breaches, restriction of access to the market, electronic or technological failures, termination of the network program, withdrawal of developers from the project, depreciation of crypto assets. Therefore, before deciding to trade, you should understand the risks you may face in the cryptocurrency market and make a decision taking into account your financial situation and limitations.
This Risk Notice aims to inform you about some general risks and may not cover all risks that may arise from the trading and transfer of Crypto Assets, Market Risk, Liquidity Risk, Legal Risk, Wallet Risks, special risks related to the Crypto Asset you will trade, risks arising from the application and services defined in the Usage Agreement. We recommend that you research and learn about the risks related to the Crypto Asset you will trade, review the “whitepaper” of the relevant Crypto Asset and then make transactions if you find it appropriate.
- Crypto Assets are produced, traded and transferred in a digital environment and are a digital representation of a value. Crypto Assets are not local currencies.
- Crypto Assets are subject to their own special risks, which differ from the risks traditionally associated with national currencies, commodities, securities or other financial instruments. Unlike national currencies, unlike national currencies, they are not issued into circulation by governments or official institutions/organizations; unlike securities, unlike securities, they are not issued by governments or official/private institutions/organizations; unlike commodities, they do not have an underlying asset unless otherwise declared; unlike commodities, they have no physical existence.
- Crypto Assets exist on a network, which is generally not legally regulated, decentralized (decentralized) and based on transactions between individuals in an anonymous order, and end-to-end encrypted with cryptographic methods to ensure its integrity.
- There is no liquidity guarantee in your Crypto Asset transactions. Depending on the type of the relevant Crypto Asset, the network on which the relevant Crypto Asset is traded or the market conditions on the platforms connected to Bytedex, the liquidity of the relevant Crypto Asset may increase or decrease or there may not be a liquid market where you can sell your Crypto Asset.
- There are risks such as the termination of the network where Crypto Assets are traded, withdrawal of developers from the project, withdrawal of approvers (nodes, etc.) from the network, depreciation of Crypto Assets, prohibition, imposition of measures, blocking of Crypto Assets and/or transactions made based on them by any state / official / administrative authorities or legal authorities.
- There is a possibility that your conditional orders such as “Limit Orders” or “Stop Orders” may not be executed according to the conditions that will occur in the market, and at the same time, these order types do not have the possibility or guarantee to limit/limit your losses.
- It should be known that in addition to the above-mentioned risks, Crypto Assets denominated in foreign currencies are subject to exchange rate risk, there may be loss of value due to exchange rate fluctuations, governments may restrict foreign capital and foreign currency movements and may impose additional and/or new taxes.
- Bytedex makes no representation or warranty that listed Crypto Assets will continue to be traded in the market at all times. Any listed Crypto Asset may be delisted or closed for trading by Bytedex at Bytedex’s sole discretion and without prior notice.
- Bytedex does not guarantee or warrant that the markets for any Crypto Asset will be active or liquid. Bytedex does not make any recommendations regarding the lawfulness of Crypto Assets for each individual user, it is Your obligation to know and understand the application of the law.
- Wallet service is not provided by Bytedex. Your Crypto Assets held with Bytedex may be held, commingled and returned in kind with the Crypto Assets of other users of the Bytedex platform and/or Bytedex’s own Crypto Assets.
- Bytedex does not make any commitment and guarantee that the Crypto Assets will be available uninterruptedly and at any time, that they are or will remain compatible with any system and hardware of the User or that they will work uninterruptedly.
- Bytedex has the right, at its sole discretion, at any time and for any period of time, to take and apply measures such as ceiling-floor price application, mandatory limit order application, closure of market orders, maximum order value limit, which may partially and/or completely prevent or prevent the market performance of the listed Crypto Asset.
- Bytedex does not provide wallet services and unless otherwise notified by Bytedex, if you wish to use the traded Crypto Assets for staking or bonding purposes, to benefit from the management or voting rights on the network, to take ownership of the Crypto Assets to be allocated/distributed as a result of distribution (airdrop, fork, etc.) or reward (retention, etc.) programs, you must withdraw the relevant Crypto Assets from your accounts with Bytedex to your own wallet address. Bytedex is authorized to participate in the decisions made in the network where the relevant Crypto Asset is traded for the Crypto Assets held in the accounts held at Bytedex, to exercise its voting rights, to benefit from the crypto assets to be allocated / distributed as a result of distribution or reward programs and / or to transfer or partially transfer the crypto assets to be allocated / distributed to the users, and Bytedex does not have any responsibility, guarantee, commitment or indemnity obligation due to the use of such authority. In this context, you are required to make all necessary attempts to protect all kinds of rights related to the Crypto Assets you have traded.
- Bytedex operates and manages the Crypto Asset trading platform on its affiliated platforms but is not a counterparty to any of your trade orders, unless otherwise stated, and therefore has no obligation to ensure that the Crypto Assets you trade will be traded at prices set by you or at prices internationally. The trading prices of Crypto Assets are realized independently and mutually negotiated among the Users according to their own needs and will, and Bytedex does not guarantee or commit to any price.
- Crypto Assets are subject to risks such as cyber-attacks, theft, various security breaches, restricting market access and preventing or preventing market performance, electronic or technological failures.
- Bytedex is only an intermediary for your Crypto Asset trading transactions and is not the issuer, operator, administrator or in any way the right holder of any Crypto Asset.
- There are risks associated with using an internet-based trading system, including, but not limited to, software and internet connection failure, and it is important that you are aware of this. Bytedex accepts no responsibility for any communication failures, interruptions, errors, failures or delays that you may encounter for whatever reason while using the Service or Services provided to you.
- Once your Crypto Asset transfer transactions have been executed, they are non-refundable and non-reversible. Therefore, it is Your obligation to check the correctness of the wallet address to which You will make the transfer.
- Before you start your transactions, you should be informed and agree on all commissions, other fees and charges that you will pay. If the fees and charges are not expressed in monetary terms, you should request a written explanation or statement from Bytedex with clear examples of how such fees and charges will be charged to you in monetary terms.
This Risk Information Form is an annex and an integral part of the Usage Agreement you have signed/approved with Bytedex.