Terms for Cryptocurrency Services
Warning about the risks associated with participation in cryptocurrency trading.
Trading of goods, real or virtual, which include cryptocurrencies, involves a significant level of risk.
Prices of goods, regardless of their nature or substance, have no permanent nature and are subject to constant change. Price fluctuations directly affect the value of assets held by an individual over time. Any good - virtual or not - can both gain value and become worthless over time. The same principles apply to cryptocurrencies.
However, cryptocurrency trading carries yet another risk. Unlike most currencies, the value of which is somewhat moderated by the government or other legal entities, or stands in raw materials, cryptocurrency value is based on the development of technology and trust in the market and its participants. Cryptocurrencies neither have a centralized issuer, nor an institution in control of its turnover. The value of cryptocurrency units is determined solely by the free-market mechanisms of supply and demand in exchange services. Cryptocurrency does not constitute an autonomous service and does not satisfy any needs by itself. Its only function is the role of a means of payment or a medium of money value exchange, which the holder may exchange, transfer, store, and exchange in the future, thus generating profit or loss resulting from the exchange rate differences.
Due to the fundamentals of the cryptocurrency trading system’s functioning, it is vulnerable to fluctuations in the level of confidence of market participants, which directly affects the level of demand or supply. The level of confidence can be affected both by purely economic factors and non-economic, including technological ones.
Given the above, please thoughtfully decide whether the existing degree of risk involved in the cryptocurrency trading is acceptable for you.
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