RISK DISCLAIMER
This disclaimer, together with our Terms of Business, Privacy Policy and any other documents referred to in those documents, is given by UAB BullkEx, and sets out the risks to an Account Holder associated with using the Services.
All defined terms are as defined in the BullkEx’s Terms of Business.
THE RISKS DESCRIBED BELOW ARE NOT NOR ARE THEY INTENDED TO BE A COMPREHENSIVE OR EXHAUSTIVE LIST OFRISK FACTORS. YOU REMAIN RESPONSIBLE FOR TAKING CARE TO UNDERSTAND THE TECHNOLOGICAL, ECONOMIC ANDLEGAL NATURE OF VIRTUAL CURRENCIES AND FOR CAREFULLY MANAGING YOUR EXPOSURE IN ACCORDANCE WITH THATUNDERSTANDING AND YOUR RISK APPETITE FOR INNOVATIVE, VOLATILE AND SPECULATIVE NEW TECHNOLOGIES ANDVIRTUAL CURRENCIES.
By becoming an Account Holder and/or using the Services you expressly acknowledge, accept and assume the following risks and agree that BullkEx shall not beresponsible for or otherwise liable for any direct or indirect loss or damage of any kind whatsoever arising directly or indirectly from the occurrence infull or in part of any of the following risk events:
| Account security risk | Unauthorised access by third parties of your login credentials to gain access to yourAccount, including through carelessness or forgetfulness by the Account Holder, orthe third-party obtaining control over another device or account used by you in connection with any enhanced security measures enabled for your Account. |
| Investment Risks | Investment in cryptocurrency involves significant risks and it is possible that youmay lose a substantial proportion or all of its investment in cryptocurrency. Thevalue of cryptocurrency may fall as well as rise. Performance of cryptocurrency issubject to various factors. You should carefully consider whether you can afford tobear the risks of investing in cryptocurrency.
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| Risk of software weaknesses | Because the Services are based on Blockchains, any malfunction, breakdown orabandonment of any Blockchain may have a material adverse effect on theServices. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the Services, by renderingineffective the cryptographic consensus mechanism that underpins Blockchains. |
| Regulatory risk | Blockchain technology allows new forms of interaction and it is possible that certainjurisdictions will apply existing regulations on, or introduce new regulationsaddressing, blockchain technology based applications, which may be contrary tothe current setup of the smart contract system and which may, inter alia, resultin substantial modifications to the Services, including its termination. |
| Risks associated with uncertainregulations and enforcementactions | We may cease operations in a jurisdiction in the event that regulatory actions, orchanges to law or regulation, make it illegal to operate in such jurisdiction, orcommercially undesirable to obtain the necessary regulatory approval(s) to operatein such jurisdiction. This may result in you losing access to your Account and mayfurther result in the loss of any Virtual Currency stored or held on your Account. . |
| Risks arising from taxation | The tax characterization of cryptocurrency is uncertain. You must seek your owntax advice in connection with acquisition, storage, transfer and use of anycryptocurrency, which may result in adverse tax consequences to you, including,without limitation, withholding taxes, transfer taxes, value added taxes, income taxesand similar taxes, levies, duties or other charges and tax reporting requirements |
| Risk of dissolution of the
Company or network |
It is possible that, due to any number of reasons, including, but not limited to, thenegative adoption of the Services, the failure of commercial relationships, orintellectual property ownership challenges, the Services may no longer be viable tooperate and we may dissolve which may result in any cryptocurrency stored or heldon your Account becoming irrecoverable and/or permanently lost. |
| Unanticipated Risks | Cryptocurrency and blockchain technology are a new and untested technology. Inaddition to these risks, there are other risks associated with your acquisition,storage, transfer and use of any cryptocurrency via your A, including those thatwe may not be able to anticipate. Such risks may further materialize as unanticipated variations or combinations of these risks. |
| Volatility Risk | The price of Bitcoin and other cryptocurrencies are very highly volatile. It iscommon for prices to increase or decrease by over 100% in a single day. Althoughthis could result in profits, this could also result in huge losses. You should carefullyconsider whether you can afford to bear the risks of investing in cryptocurrency. |