Risks Disclosure Statement

The legal status of Digital Assets may be uncertain, and owning Digital Assets may not always be legal or compliant with the laws. You are obliged to know the legal status of your Digital Assets, as well as how they are treated and taxed under applicable laws. According to the laws of the jurisdiction where you are located, it may become illegal to use or hold the Digital Assets. You should always independently investigate the legal consequences applicable to you due to buying, selling, holding, or disposing of the Digital Assets. Activities of Tidex may be subject to various laws and regulations in the countries where it operates or intends to operate. Tidex might be obliged to obtain different licences or other permissive documents in jurisdictions where it intends to operate its business, therefore, Tidex business in such jurisdictions can be subject to obtaining such licences or permissive documents, if so directed by applicable laws. There is also a risk that certain activities may be deemed in violation of any such law or regulation. Furthermore, regulatory actions, orders or inquiries may adversely affect us or the Services, or impair our ability to make them available. Additionally, changes in applicable laws or regulations or evolving interpretations of existing law could, in certain circumstances, result in increased compliance costs or capital expenditures, which could affect our ability to carry on the business and maintain the Services.

Trading Digital Assets is a highly speculative activity involving a high degree of risk for any person involved. The risk of loss in trading Digital Assets can be substantial. You should carefully consider whether such trading is suitable for you in light of your circumstances, objectives and financial resources. You represent that you are willing and able to assume these risks, accept and bear for your own account all possible losses that may arise from the transactions associated with the Digital Assets. Do not purchase Digital Assets unless you are prepared to lose the entire amount you contributed. There is no assurance that use of the Services will provide a positive return or profit, that significant losses will not be incurred, or that your objectives will be achieved.

There is no guarantee that there is or will be an active market to buy or sell the Digital Assets. In addition, markets for Digital Assets (in general) are highly volatile and, therefore, there is no assurance with respect to the price of the Digital Assets and the degree of liquidity regarding the Digital Assets. There may be no liquidity or market for the Digital Assets at all and it is possible that the Digital Assets will become useless or abandoned. There are also no warranties or guarantees as to whether certain Digital Assets will be listed on or supported by the Exchange, or that the market for any particular Digital Assets will appear or exist. Therefore, you are encouraged to constantly monitor changes in the market and prices of Digital Assets. Furthermore, any Digital Asset may be at any time delisted (removed) from the Exchange in our sole and absolute discretion, with or without a prior notice.

You should always be diligent when interacting with third parties regarding your Funds. Such third parties may include any other persons (counterparties to a transaction), including exchanges, custodians, wallet operators, service providers, fiat gateways, banks, payment service providers, etc. There is always a risk of losing Funds when interacting with third parties, including due to fraud, insolvency, breach of contract, trust, or security. The Tidex Parties shall not be responsible for any acts or omissions of any third party. You hereby acknowledge and accept that your transactions with the Funds may not be reversible. Once you send Funds to any third party, such third party will become the owner of such Funds and you will lose access to and control over such Funds.

It is not possible to eliminate all security risks. Accordingly, there is no assurance or warranty that there will be no theft of the Funds as a result of the attack, hacker attack, sophisticated cyber-attack, distributed denials of service, error, phishing attack, double-spent attack, flash-loan attack, weakness, vulnerability or defect of the underlying blockchain or any other software. Such events may include, for example, flaws in the logic of the software, flaws or errors in programming or source code leading to exploitation or abuse thereof. Any of the above may lead to partial or complete steal or loss of Funds.

The Services, as well as any other systems, may experience system failures, unplanned interruptions in its network or services, hardware or software defects, security breaches, or other causes that could adversely affect the Services or your access to the Services.

Although we make reasonable efforts to follow the high-security standards and ensure that the User’s Funds are securely stored and held, there is no assurance that the Funds, applicable blockchain networks and related software (including smart-contracts), or other software are secure or safe, or protected from phishing, malware, hacker, or other malicious attacks. Further, the above software, blockchain software and related products may contain weaknesses, bugs, flaws, vulnerabilities, viruses, or other defects which may have a material adverse effect on the Services or may lead to the loss of the Funds or access thereto, and owners may not be able to return or withdraw their Funds, or other losses and damages.

The Digital Assets operate on the underlying blockchain networks. As a result, any malfunction, breakdown, or abandonment of the respective blockchains may have a material adverse effect on the Digital Assets or respective transactions. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, etc., could present risks to the Digital Assets and related blockchain software by rendering ineffective the cryptographic consensus mechanism that underpins the blockchains. The smart-contract concept, the underlying software application and software platform (i.e., blockchains) are still in an early development stage and unproven. Although it is unlikely, a blockchain can be attacked which may result in downtime, consensus split, long reorganisation of the chain, 51% attack or other adverse outcomes each of which may lead to complete loss of Digital Assets.

The underlying logic of the software, blockchain networks, as well as smart-contracts may be flawed, defective, or impaired, which can result in the software operating incorrectly or not as expected, or transactions being executed in violation of logic which underpins such software, which can lead to partial or complete loss of the Funds used in a transaction or other adverse outcomes. The software that underlies Digital Assets is normally open-source software operated by third parties, which means that: (i) the operations, functionalities and development of such Digital Assets and their underlying networks are outside of the Tidex Parties’ control; and (ii) such software protocols may be subject to sudden, unexpected, controversial or other changes (forks), that might have a significant impact on the availability, usability, or value of a given Digital Asset.

You are responsible for keeping your User Account Credentials safe, because if any third party gains access to your User Account or learns of the Credentials may be able to manage and dispose of the Funds held or stored in your User Account. To minimise this risk, a User should guard against unauthorised access to their electronic devices and Credentials.

Use the Services carefully, as certain user interface elements or design decisions of the Services potentially can be confusing or mislead you, which may result in the execution of a different action or transaction than intended or desired, including choosing the wrong Digital Asset or Fiat Currency to be used in a transaction, wrong type of transaction, wrong blockchain network, card, or account.

We endeavour to keep the Tidex Information as accurate as possible, however, it may not be true, complete, timely, accurate, or sufficient, therefore any use of the Tidex Information is at your own discretion and risk, and you shall be solely responsible for any possible damages or losses arising from such use. You shall solely evaluate the Tidex Information.

Neither Digital Assets nor any Fiat Currencies held or stored in your User Account are protected as a deposit. Your User Account balance is not subject to any insurance, unless you specifically obtain third party private insurance with respect to it.

Neither Digital Assets nor any Fiat Currencies held or stored in your User Account are protected as a deposit. Your User Account balance is not subject to any insurance, unless you specifically obtain third party private insurance with respect to it.

In addition to the risks set forth herein, there are risks that we cannot anticipate. Further risks may materialise as unanticipated combinations or variations of the discussed risks or the emergence of new risks.