Risk Disclosure Statement
This Risk Disclosure Statement (“Statement”) provides the user (“User”, “you”, “your”, “them”) with information about the risks associated with trading in cryptocurrencies and services provided by Resfinex Exchange. (“Resfinex”, “our”, “we”, “us”). This Statement is not intended to disclose or discuss all of the risks associated with cryptocurrency trading, holding or other significant aspects of transactions entered into through Resfinex trading platform, but only outlines the general nature of risks. Users should carefully consider whether cryptocurrency trading is appropriate for them in light of their experiences, objectives, financial resources and other relevant circumstances.
All Users and prospective Users are strongly advised to read and understand this Statement before opening an account and executing trades on the Resfinex exchange platform. By opening an account with Resfinex, the User is deemed to have evaluated and confirmed that they understand and accept the risks involved.
Trading in cryptocurrencies has certain risks and this Statement does not disclose all of the risks associated. Users of Resfinex’s services should consider the following risks, in no particular order, prior to engaging in cryptocurrency trading which include, but are not limited to:
Trade Risks: Cryptocurrencies are complex and risky investments based on the highly speculative natures and the uncertainty of the market. The value of cryptocurrencies is entirely derived by market forces, such as supply and demand, and as such the value is volatile.
Cryptocurrency trading come with a high risk of losing all of the invested capital. Users should not invest funds to trading cryptocurrencies that you are not prepared to lose entirely. This type of trading may not be appropriate for someone with limited resources and limited investment or trading experience and low risk tolerance.
Listing Risks: Cryptocurrencies value and market are highly volatile and widely fluctuate. Any cryptocurrency can be listed or delisted at any time and without notice or consent. Cryptocurrency markets are very unpredictable and can move up or down as a whole and/or any particular currency can move independently and can lose all or substantial value of the funds originally invested. Resfinex is not responsible for the availability, transferability or liquidity of any cryptocurrency.
Regulatory Risks: Cryptocurrency is an evolving market segment with fewer regulations than traditional investments. Regulations are unsettled or unclear in many jurisdictions and any changes in laws and regulations may materially impact the cryptocurrency market. Users are responsible for knowing how cryptocurrencies are regulated and controlled under the applicable laws in their own jurisdiction.
Platform Risks: Cryptocurrencies trading on the Resfinex is entirely digital, and as such face cybersecurity and system failure risks. Users should be aware that failure, malfunctions or disruptions of any transmission, communication system, computer facility or trading software may occur, this may result in an order being delayed or failure to complete an order. Trading online does not reduce risk associated with cryptocurrency trading. You acknowledge that Resfinex is not liable for any loses resulting therefrom.
Default/Counterparty Risk: Resfinex administers and operates the trading platform for cryptocurrency. Resfinex is not a counterparty to the trade or transaction of cryptocurrency traded on the Website and is not responsible for a third-party buyer or seller failing to honor their financial obligations. We are not responsible for losses suffer to you as a result of any defaults of by insolvency of other Users.
When trading in cryptocurrencies and similar products, Users must ensure they fully understand any risks involved and seek independent advice if necessary, taking into consideration investment objectives, level of experience and risk tolerance. Users should not risk more than the User is prepared to lose.
Information provided on the Website is for informational purposes only and is not, nor intended to be investment advice or trading recommendations. Such information is not, and should not be considered as an offer to buy or sell, or solicitation of an offer to buy or sell any cryptocurrencies. The User’s decision as to whether such transaction is appropriate for them, is the User’s independent decision. Resfinex is not acting as an advisor or serving as a fiduciary to the User. Users are responsible for managing their own tax affairs and seeking independent professional advice.
Should a price quoting error occur, Resfinex is not liable for any resulting errors in account balances and reserves the right to make necessary corrections or adjustments to the relevant account. Any dispute arising from such price quoting errors will be resolved based on the fair market value, as determined by Resfinex in its sole discretion and acting in good faith, of the relevant market at the time such an error occurred. In cases where the prevailing market represents prices different from the prices we have posted on our platform, Resfinex will attempt, on a best efforts basis, to execute orders on or close to the prevailing market prices. This may or may not adversely affect the User’s realized and unrealized gains and losses.
Resfinex does not make any representations or warranties regarding any cryptocurrency traded on the Website. The risks associated with cryptocurrency and trading cryptocurrency apply notwithstanding Resfinex trading platform, and the risks associated with the use and trading cryptocurrencies are the Users and the Users alone.