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This Disclaimer section supplements the BITmarkets Terms and Conditions, and all other legal documents found in our platform at www.bitmarkets.com  and mobile application. References to defined terms refer to terms as defined in the BITmarkets Terms and Conditions. 

By using or accessing the platform and/or services, you agree that you have read, understood and accept these disclaimers in full. If you do not agree, understand or accept a part or whole of these disclaimers, we recommend you refrain from using or accessing our platform and/or services. 

• Disclaimer of Liability

The following disclaimers of liability are in addition and without prejudice to any exclusions of liability as outlined in the BITmarkets Terms and Conditions and other legal documents.

• Your trading account with us, the platform or website, and mobile application are not developed to meet individual needs. The use or access of the platform and/or services is provided on an "as is" and "as available" basis. This means you use or access them at your own risk, without any representation or warranty, whether express, implied, or statutory. We shall not be responsible for any consequences or losses you may incur from your use or access of these services.

• The market for digital assets is unpredictable, and past performance does not guarantee future results. Cryptocurrency trading is characterized by significant volatility and involves a high level of risk. As a User, it is your responsibility to manage your risk effectively and to implement strategies that will help limit your exposure to market fluctuations and potential losses. 

• You are solely responsible for assessing whether any investment, investment strategy, or related transaction is suitable for you, considering your financial condition, investment objectives, and risk tolerance. Bitmarkets does not provide investment, tax, financial, or legal advice in any form. Information available on our platform or application or through third-party sites should not be interpreted as advice of any kind. Any communication or information provided by Bitmarkets should not be construed as offering guidance or recommendations. Bitmarkets does not provide advisory services and does not act as your advisor concerning any aspect of your use of the platform and/or services. 

• The relationship between you and BITmarkets, as well as your activities to the platform and/or application, do not establish any fiduciary, advisory, agency, brokerage, or trustee duties on the part of BITmarkets. This remains true even if BITmarkets possesses superior knowledge of the market in general or of any specific order you may place. The role of BITmarkets is limited to providing the services as specified in the BITmarkets Terms and Conditions and other legal documents, and BITmarkets do not bear any additional duties or responsibilities beyond those explicitly defined.

• BITmarkets and its Affiliates do not grant any warranties or make any representations, whether express, implied, or otherwise, regarding the accessibility, quality, suitability, accuracy, adequacy, or completeness of the platform and/or services. They expressly disclaim any liability for errors, delays, or omissions, or for any actions taken in reliance on the platform and/or services.

• BITmarkets, its Affiliates, directors, officials and employees do not make or purport to make, and hereby disclaim, any representation, warranty or undertaking in any form whatsoever to any entity or person, including any representation, warranty or undertaking in relation to (i) the accuracy and completeness of any of the information set out on the platform, including but not limited to price data of the Digital Assets or Fiat Currencies; and (ii) the time taken to effect any transactions involving third parties outside of its control.

• In an effort to continue to provide Users with as complete and accurate information as possible, information may be changed or updated by the BITmarkets from time to time without notice, including without limitation, information regarding the policies, products and services. Thus, the User should verify all information before relying on it. All decisions based on information contained on the platform and/or application are the User's sole responsibility, and BITmarkets shall have no liability for such decisions.

• Links to third-party materials (including, without limitation, websites) may be provided for convenience but are not controlled by BITmarkets. The User acknowledges and agrees that BITmarkets shall not be responsible for any aspect of the information, content, or services contained in any third-party materials or on any third-party sites accessible or linked through the platform and/or application.

• The User is responsible for maintaining adequate security and control over any and all IDs, passwords, hints, personal identification numbers (PINs), API keys, or other codes used to access the Services. Any loss or compromise of this information and/or the User’s personal information may result in unauthorized access to the User’s Digital Assets stored on the platform and the potential loss or theft of any Digital Assets and/or funds. This includes any associated accounts, such as linked bank accounts and credit cards.

• The User is responsible for keeping their email address and contact number up to date in their user profile to ensure they receive any notifications or alerts from BITmarkets. BITmarkets assumes no responsibility for any loss a User may incur due to compromised account login credentials, provided such compromise is not due to fault of BITmarkets or its Affiliates, and/or failure to follow or act on any notifications or alerts sent by BITmarkets. In the event of a compromise of any Digital Assets stored on the platform, the User should contact BITmarkets immediately.

• BITmarkets shall not bear any liability for damage or interruptions caused by computer viruses, spyware, scareware, Trojan horses, worms, or other malware that may affect the User's computer or other equipment, or for any phishing, spoofing, or other attacks. The User should also be aware that SMS, SIM, and email services are vulnerable to spoofing, phishing attacks, SIM swapping, SIM jacking, and account hacking. Users should exercise caution when reviewing messages that appear to come from BITmarkets. If there is any uncertainty about the authenticity of any communication or notice, Users should always log into their account on the platform and/or application to review the transactions or determine any required actions.

• Risks

Trading in digital assets involves a range of risks. By using and/or accessing our platform and/or services, the User hereby acknowledges and accepts these risks as detailed in this Disclaimer section. These risks may include, but are not limited to, market volatility, regulatory changes, technological failures, and security breaches. For instance, the value of digital assets can fluctuate significantly due to market conditions, which might affect the overall value of the digital assets held on the platform. Changes in regulatory environments or legal frameworks could impact the operational stability and compliance of BITmarkets. Technological issues, such as system outages or software bugs, could disrupt the service or result in losses. Furthermore, security vulnerabilities or breaches could compromise the safety of the assets stored on the platform.

It is important for the Users to consider and assess these risks and the underlying consequences thereof and to only engage in our services with an understanding of the potential risks and consequences. Should any of these risks materialize into actual events, it could have a material and adverse effect on BITmarkets' ability to provide its services as intended. In such scenarios, the user may experience a partial or total loss of the value of the digital assets they have stored on our platform.

• Market Risk

The risks associated with trading or holding digital assets can be significant and substantial. Given the nature of this market, the volatility and unpredictability can lead to substantial financial losses. The Users must exercise caution and evaluate their financial condition, investment goals, and risk tolerance before engaging with our services. 

BITmarkets and its Affiliates explicitly disclaim any responsibility or liability for losses incurred by the User as a result of using our services. The user assumes full responsibility for any financial outcomes related to their use of the platform. It is essential that Users are aware of and accept these risks prior to utilizing our services, and seek professional financial advice if necessary.

• Liquidity and Listing Risk

Digital assets are not issued or regulated by any central bank, national authority, supra-national organization, or quasi-national body. Unlike traditional currencies or financial instruments, digital assets are not backed by physical assets, tangible goods, or any form of credit. The value of digital assets is primarily determined by market consensus among participants, and their trading is driven by supply and demand dynamics within the market. There is no obligation for any entity to guarantee the liquidity or market price of digital assets traded through our platform. As a result, the market for these assets can be highly volatile and unpredictable.

Further, digital asset markets can appear and disappear rapidly, affecting their liquidity and trading opportunities. Users should be aware that the market conditions for digital assets can change rapidly, and there is no assurance of continuous liquidity or stable market prices for any assets traded on our platform.

BITmarkets and its Affiliates do not assume responsibility for the circulation or trading of any digital assets on our platform. We do not make any representations or warranties regarding the future market prices of digital assets traded through our platform. Furthermore, we do not guarantee that any digital asset will remain available for trading on our platform at any future date. Digital assets may be subject to delisting at our discretion, without prior notice to or consent from the User. The decision to delist any digital asset can be made based on various factors, including but not limited to market conditions, regulatory changes, or strategic considerations. Users should be aware that such changes can occur without warning, and BITmarkets and its Affiliates will not be held liable for any consequences resulting from these actions.

• Trading risk

The values within the cryptocurrency marketplaces are highly volatile and can fluctuate rapidly. The volatility of digital asset market means that prices can shift dramatically over short periods, which may lead to unexpected gains or losses. Users are advised to closely monitor their assets and positions, as these can be significantly affected by sudden and adverse changes in the trading activity and other market conditions. Being aware of these fluctuations can help mitigate potential negative impacts on the investments of the User and ensure more informed decision making in case of rapid market movements. Users need to stay informed and updated on market developments to manage their potential risk exposure. 

BITmarkets and its affiliates are not equipped to predict or detect occurrences of various security threats, including but not limited to hacks, cyber-attacks, and mining attacks. BITmarkets may not be able to foresee or identify distributed denial-of-service attacks, system errors, vulnerabilities, or defects in our platform, the digital assets stored on our platform, or any underlying technology that BITmarkets, its Affiliates, or the platform depend upon. 

The ability of BITmarkets to respond to and manage multiple service incidents occurring simultaneously or in quick succession may be limited by available resources. Users should be aware that despite our efforts to maintain security and operational integrity, unforeseen security threats and technical issues can arise, and we may not always be able to address them in a timely or effective manner.

While BITmarkets and its Affiliates implement measures to protect against malicious attacks on our platform, application and infrastructure, which are essential for maintaining the platform and delivering our services, we cannot guarantee complete protection from future cyber-attacks. Despite our efforts, there is no assurance that our security measures will be fully effective or that they will prevent all forms of cyber threats.

BITmarkets makes no guarantees or representations regarding the usability, stability, or security of the interface or the digital assets stored on our platform. Users should be aware that although we are committed to implementing robust security protocols, unforeseen vulnerabilities or technical issues may still arise, and we cannot guarantee the effectiveness of our protective measures.

• Legal Risks

The User may face legal and/or tax implications as a result of trading digital assets on the platform. The legal and regulatory status of cryptocurrencies and cryptographic assets remains uncertain and varies across different jurisdictions. There is a risk that digital assets could be classified as securities, assets, currency or subject to other regulatory classifications in certain jurisdictions, either currently or in the future. Such classifications could have significant legal and tax consequences for the Users, including compliance requirements, reporting obligations, and potential liabilities.

The regulatory environment governing digital assets is currently uncertain and subject to changes. Future regulations, policies, or legal developments could impact BITmarkets' ability to provide its services, as well as the value of digital assets. Changes in regulations or the introduction of new policies could affect how digital assets are treated under the law, potentially leading to alterations in market conditions or compliance requirements. Such changes may also influence the operational aspects of BITmarkets and its services, including possible adjustments to our platform or procedures to comply with new legal or regulatory standards. BITmarkets cannot predict or control these changes and does not assume responsibility for any impacts resulting from alterations in the regulatory framework.

BITmarkets recommend Users to seek professional legal and/or tax advice to understand and manage the implications of trading digital assets in their respective jurisdiction. BITmarkets does not assume any responsibility for legal and/or tax outcomes resulting from the use of its services.

Inquiries from You

If the information provided is not sufficient to address your inquiry, or if you discovered that there was an unauthorized use or access of your account with us, or in case of changes to your personal or contact information, you may send an email through [email protected] or contact us at +44 20 4579 5923. We will not be held responsible in the event that you do not receive correspondence or notice from us due to the changes in your contact information.

If your inquiry involves specifics or technicalities, we recommend you seek independent professional advice.

Last updated: August 2024