SwitchBIT Risk Warning
SWITCHBIT OÜ: SWITCHBIT.EE – Risk Warning (“Risk Warning”)
Company Reg. No.14632927
Virtual Currency Exchange Service: No: FVT000029
Document last updated 18th January 2021
Cryptocurrencies trading (involving bitcoin, ethereum, etc.) is always accompanied by high risks. The market of cryptocurrencies represents new and unstudied economic reality without any guarantees of its growth. At the present time, cryptocurrencies are limitedly used in commercial trade, but speculators use them rather widely which results is one of the reasons for high volatility and can negatively affect investments into cryptocurrencies. In order to participate in cryptocurrencies trading, it is necessary to adequately evaluate the benefits and risks of investments and fully understand that one of the probable cases of such activity can be a complete loss of investments. None of the materials published on this website should be considered as the proposal of selling or buying cryptocurrency from SWITCHBIT.ee.
Users are advised to read the Legal Agreements section carefully.
Digital assets such as Bitcoin, Litecoin and other tokens or cryptocurrencies are special digital goods. Digital assets trading is highly risky and therefore not suitable for the vast majority of people. So, any participation of digital assets investment is at your own risk. You need to understand and acknowledge that investment in digital assets may result in partial or total loss of your investment due to the fact that they are traded throughout the day without limits on the increase or decrease in price, and market makers or global government policies may cause major fluctuations in prices. Unpredictability factors such as technology flaws or the project team dismissed etc. may cause partial or total loss of your investment. SWITCHBIT only provides a platform for digital assets enthusiasts to freely exchange their
digital goods. SWITCHBIT doesn't own or verify the source or value of the digital assets traded on SWITCHBIT platform. SWITCHBIT is not accountable for any legal responsibility of reviewing, auditing, guarantee or compensation for any loss.
So please read below important reminders:
1. Be wary of false claim or propaganda, don't listen to any claim that the price of digital assets will rise. Digital assets price is extremely volatile and might even become worthless.
2. Be wary of any promise of price or return any projects claimed during any situation. There is no relevant law to guarantee those sorts of promises. SWITCHBIT doesn't endorse or guarantee any of the token or cryptocurrencies traded on SWITCHBIT platform.
3. Refuse all pyramid marketing or multilevel marketing organizations. It is illegal to participate in those organizations or their projects. SWITCHBIT doesn't compensate for any loss related to those. SWITCHBIT will also cooperate with relevant law enforcement agencies on all investigations and evidence collection.
4. According to Estonia & EU 《Anti-Money Laundering / Countering the Financing of Terrorism and Targeted Financial Sanctions》, it is strictly forbidden to use SWITCHBIT platform for illegal activities such as money laundering and other criminal activities.
5. The physical property corresponding to the virtual goods such as digital currency or digital credits and the rights enjoyed by the holders may be unsuccessful to realize due to bankruptcy of related parties such as the issuer or due to other business risks such as closure or illegal crimes.
6. All the users registered on SWITCHBIT shall make sure the authenticity and accuracy of all the identity information and the legitimacy of the source of the digital assets. SWITCHBIT is not responsible for any consequences or problems caused by false information provided by users.
7. Digital asset transactions may be suspended or prohibited at any time due to the enactment or modification of national laws, regulations and regulatory documents. SWITCHBIT is not responsible for any losses caused by those. Users invest at own risks.
8. Be wary of the risk and you are advised to decide the amount of your investment on the basis of your loss-bearing capacity. Don't invest in anything digital assets you don't understand. Due to related policies and regulations, SWITCHBIT does not accept citizens from countries acknowledged as restricted, to register and use the platform.