Risk Policy

1. Introduction

This notice provides you with information about the risks associated with Mybitstore Services. Each Mybitstore Service has its own distinct risks. This notice provides a general description of the risks associated with using Mybitstore Services.

This notice does not explain all of the risks or how such risks relate to your personal circumstances. It is important that you fully understand the risks involved before making a decision to use Mybitstore Services. Key risk factors include high market volatility and price fluctuations, potential for total loss of investment, limited liquidity in certain markets, regulatory and legal uncertainties, and technology and security risks.

This risk disclosure does not explain all risks. Please ensure you fully understand the risks before using Mybitstore Services.

2. No Personal Advice

We do not provide personal advice in relation to our products or services. We sometimes provide factual information, information about transaction procedures and information about the potential risks. However, any decision to use our products or services is made by you.

No communication or information provided to you by Mybitstore is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. This includes but is not limited to investment advice, financial advice, trading advice, and personal recommendations. You are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance.

3. No Monitoring

Mybitstore is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities undertaken by you using Mybitstore Services.

We do not monitor whether your use of Mybitstore's Services is consistent with your financial goals and objectives. It is up to you to assess whether your financial resources are adequate for your financial activity with us, to determine your risk appetite in the products and services you use, to monitor your own trading activities and positions, and to make independent decisions about your investments.

4. No Tax, Regulatory or Legal Advice

The taxation of Digital Assets is uncertain, and you are responsible for determining what taxes you might be liable to, and how they apply, when transacting through the Mybitstore Services.

It is your responsibility to report and pay any taxes that may arise from transacting on the Mybitstore App, and you acknowledge that Mybitstore does not provide legal or tax advice relative to these transactions. If you have any doubts about your tax status or obligations when using Mybitstore Services, or with respect to the Digital Assets held to the credit of your Mybitstore account, you may wish to seek independent advice.

5. Reporting Requirements

You acknowledge that, when, where and as required by applicable legislation, Mybitstore shall report information regarding your transactions, transfers, distributions or payments to tax or other public authorities.

Applicable legislation could prompt Mybitstore to request additional tax information, legal status, certificates or documentation from you. Failure to respond within the defined timeframe may result in Mybitstore releasing information as required by public authorities. You are encouraged to seek professional and personal tax advice regarding the above and before making any digital asset transaction.

6. Market Risks

Digital Asset trading is subject to high market risk and price volatility. Changes in value may be significant and may occur rapidly and without warning. Volatility factors include market sentiment changes, regulatory announcements, technology developments, and economic events.

Past performance is not a reliable indicator of future performance. The value of an investment and any returns can go down as well as up, and you may not get back the amount you had invested. Specific risks include rapid price movements, potential total loss, no guaranteed returns, and the possibility of market manipulation.

7. Liquidity Risk

Digital Assets may have limited liquidity which may make it difficult or impossible for you to sell or exit a position when you wish to do so. This may occur at any time, including at times of rapid price movements.

Liquidity challenges include limited trading volume in certain assets, wide bid-ask spreads during volatile periods, difficulty exiting positions during market stress, and the potential for significant price impact on large orders.

8. Fees & Charges

Our fees and charges are set out on our website and the Mybitstore App. Mybitstore may, in its discretion, update the fees & charges from time to time.

Please be aware of all costs and charges that apply to you, because such costs and charges will affect the gains you generate from using Mybitstore Services.

9. Availability Risk

We do not guarantee that the Mybitstore Services will be available at any particular time or that Mybitstore Services will not be subject to unplanned service outages or network congestion. Service limitations may include unplanned outages, network congestion, maintenance periods, technical difficulties, and regulatory restrictions in certain jurisdictions.

It may not be possible for you to buy, sell, store, transfer, send or receive Digital Assets when you wish to do so. Mybitstore reserves the right to change, modify or impose additional restrictions with respect to the access to and use of the Platform and/or the Mybitstore Services from time to time in its sole discretion without notification.

10. Third Party Risk

Third parties, such as payment providers, custodians, banking and fintech partners and any other service providers of Mybitstore may be involved in the provision of Mybitstore Services. These include payment processors, banking partners, custody providers, technology service providers, and regulatory compliance partners.

You may be subject to the terms & conditions of these third parties, and Mybitstore may not be responsible for any loss that these third parties may cause to you.

11. Security Risk

It is not possible for Mybitstore to eliminate all security risks. You are responsible for keeping your Mybitstore Account password safe, and you may be responsible for all the transactions under your Mybitstore Account, whether you authorized them or not.

You should keep your account credentials secure, use strong and unique passwords, enable two-factor authentication, monitor your account regularly, and report suspicious activity immediately. Transactions in Digital Assets may be irreversible, and losses due to fraudulent or unauthorized transactions may not be recoverable.

12. Digital Asset Risks

Given the nature of Digital Assets and their underlying technologies, there are a number of intrinsic risks, including but not limited to faults, defects, hacks, exploits, errors, or protocol failures, technological development leading to obsolescence, delays causing transactions not to be settled on the scheduled delivery date, and the irreversible nature of transactions.

Additionally, Digital Assets are exposed to a range of potential attacks including distributed denial of service, Sybil attacks, phishing, social engineering, hacking, smurfing, malware, double spending, majority-mining attacks, misinformation campaigns, forks, and spoofing.

13. Monitoring Risks

Digital Asset markets are open 24 hours a day, 7 days a week. Rapid price changes may occur at any time, including outside of normal business hours. You are solely responsible for monitoring your positions and responding to market movements at all times.

14. Communication Risks

When you communicate with us via electronic communication, you should be aware that electronic communications can fail, can be delayed, may not be secure and/or may not reach the intended destination.

Risks include electronic communication failures, message delays, security vulnerabilities, and messages not reaching their intended destination.

15. Currency Risk

Currency exchange fluctuations will impact your gains and losses when trading between different currencies or digital assets. You should be aware of the exchange rate risk at all times and consider how currency movements may affect the value of your holdings and transactions.

16. Legal Risk

Changes in laws and regulations may materially affect the value of Digital Assets. This risk is unpredictable and may vary from market to market. Areas of regulatory uncertainty include the changing regulatory landscape, potential bans or restrictions, tax law changes, compliance requirements, and cross-border regulatory differences.

For questions about these risks or to seek clarification, please contact our support team at support@mybitstore.com. We strongly recommend seeking independent financial advice before making any investment decisions.