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Trading Coin Introduction
Risk Warning & Compliance Disclosures
This Risk and Compliance Disclosure should be read in conjunction with the Terms of Use, KYC& AML Policy, and Privacy Policy. The trading of goods and products, real or virtual, as well as cryptocurrencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency - virtual or not - may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market. Cryptocurrency trading also has special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, cryptocurrency is a unique kind of "fiat" currency, backed by technology and trust. There is no central bank that can take corrective measure to protect the value of Bitcoins in a crisis or issue more currency. Instead, cryptocurrency is an as-yet autonomous and largely unregulated worldwide system of currency firms and individuals. Traders put their trust in a digital, decentralized and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.
Cryptocurrency trading is probably susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in cryptocurrency because of unexpected changes imposed by the software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling. There may be additional risks that we have not foreseen or identified in our Terms of Use. You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Bitcoins. Your top-up and withdraw in fiat will be processed via qualified 3rd party dealers, not our bank. Bitforex is an entity incorporated in Republic of Seychelles, which has certain benefits. However, we cannot and do not want customers in jurisdictions that have banned activities involving cryptocurrencies, required costly cross-jurisdictional regulations, or on international sanction lists. We simply don’t want to run afoul with various country’s regulations. While we may not welcome costly regulations, we respect regulations and comply with applicable regulations. As good corporate citizens, we may be asked for information from law enforcement authorities and will assist if permissible by law. What this means is that our platform only welcomes law abiding customers. We welcome the opportunity to earn your business, in return we require that you act legally and properly on our platform.