Risk Disclosure Statement
Thank you for visiting https://www.fopay.io/ (“Site”). The Site is owned and operated by “FOINS BLOCKCHAIN” LIMITED LIABILITY COMPANY, duly incorporated and existing under the laws of Ukraine, identification code of the legal entity: 42019553, with the registered office at: Ukraine 01601, City of Kyiv, Pecherskyy District, Mechnykova Street, Building 2, Letter A, and its affiliates, (together “FoPay”, “we”, “our”, or “us”).
Please kindly note that holding, trading, or engaging in financing or financed transactions in Digital Tokens entails high risks for User. This Risk Disclosure Statement could not and is not disclosing or describing all potential risks and other aspects involved in holding, trading on third-party platforms, or engaging in financing or financed transactions in Digital Tokens.
Description of risks
Nonetheless, some of the potential risks applicable to or arising out of holding, trading, or engaging in financing or financed transactions in Digital Tokens include, but are not limited to the following:
1.1. The market for Digital Tokens is new, uncertain and in most jurisdictions, ether not regulated at all, or poorly regulated. Thus, please note that no one should have any funds invested in Digital Tokens or speculate with or on markets of Digital Tokens, if they are not prepared to lose such invested funds. It is truly unknow yet whether the market for one or several Digital Tokens will grow or drop, or whether a particular Digital Token will lose all or substantial part of its value. This information applies to any User of the Site; thus, Users shall be cautious about holding, trading on third-party platforms, or engaging in financing or financed transactions in Digital Tokens.
- Liquidity and Listing Risk
2.1. Please kindly note that markets for Digital Tokens have varying degrees of liquidity. Some are quite liquid while others may be thinner. Such markets can potentially amplify volatility. There are no guarantees that there will be a proper market for User to sell, buy, or trade Digital Tokens or products derived from or ancillary to sell, buy, or trade Digital Tokens. Furthermore, any market for tokens may abruptly appear and vanish. FoPay makes no representations or warranties about whether a Digital Token that may be held by User on Digital Tokens Wallet of the Site may be peer-to-peer exchanged on the Site at any point in the future, if at all. We kindly inform you that any Digital Token is subject to freze and/or block deactivation without notice or consent.
- Legal Risk
3.1. The legal tender and/or legal statues of some Digital Tokens may be or could be uncertain. Which means that the lawfulness of holding, trading, or engaging in financing or financed transactions in Digital Tokens is not and may not be always certain and clear. Therefore, Users of the Site shall be solely responsible for knowing and understanding how Digital Tokens regulated under applicable Law.
- Counterparty Risk
4.1. Having Digital Tokens on deposit or controlled and managed by any third party contains risks. Such risks contain including but not limited the risk of contractual breach, risk of loss etc. Thus, Users should be cautious and suspicious regarding letting third-parties hold their Digital Tokens.
- Risks associated with funding activities
5.1. If you fund or by any means financially support, purchase or sell Digital Tokens on a peer-to-peer basis, you face high risk of losing such invested funds. Likewise, if you accept funding or any alike financial support provided to you by third parties under, including but not limited to, a trading contract, you bear high risk of not being able to pay back and/or settle up such financial support, due to unexpected raise of market price of the Digital Token you purchased with the provided funds. The Users shall know all of the terms and conditions of any agreement they execute and how their trading strategies and other market and risk factors can affect their set up of obligations.