This notice provides you with information about the risks associated with services accessible on the application: https://www.trakx.io. Each TRAKX service has its own distinct risks. This notice provides a general description of the risks when you use TRAKX services.
THIS NOTICE DOES NOT EXPLAIN ALL OF THE RISKS OR HOW SUCH RISKS RELATE TO YOUR PERSONAL CIRCUMSTANCES. IT IS IMPORTANT THAT YOU FULLY UNDERSTAND THE RISKS INVOLVED BEFORE MAKING A DECISION TO USE TRAKX SERVICES.
Digital asset trading is subject to high market risk and price volatility. Changes in value may be significant and may occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and any returns can go down as well as up, and you may not get back the amount you had invested.
Digital assets may have limited liquidity which may make it difficult or impossible for you to sell or exit a position when you wish to do so. This may occur at any time, including at times of rapid price movements.
The User is also reminded of TRAKX Staking risks, such as liquidity risk that may occur due to restriction on transferability of the digital assets staked, the risk of loss relating to staking - that may occur due to penalties on validators who negligently validate transactions due to inadvertent errors, technological problems and/or hacking, also known as - slashing - which may occur through downtime or double signing on the network, leading to Proof of Stake (PoS) blockchain validator failing to properly fulfil its obligations and leading to the potential loss of both validator and Users staked digital assets or rewards.
We do not guarantee that the TRAKX services will be available at any particular time or that TRAKX services will not be subject to unplanned service outages or network congestion. It may not be possible
for you to buy, sell, store, transfer, send or receive digital assets when you wish to do so.
We do not provide personal advice in relation to our products or services. We sometimes provide factual information, information about transaction procedures and information about the potential risks. However, any decision to use our products or services is made by you. No communication or information provided to you by TRAKX is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. You are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance.
TRAKX is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation
to you in connection with any trades or other decisions or activities undertaken by you using TRAKX services. We do not monitor whether your use of TRAKX services is consistent with your financial goals
and objectives. It is up to you to assess whether your financial resources are adequate for your financial activity with us, and to your risk appetite in the products and services you use.
The taxation of digital assets is uncertain, and you are responsible for determining what taxes you might be liable to, and how they apply, when transacting through the TRAKX services. It is your responsibility to report and pay any taxes that may arise from transacting on the TRAKX services, and you acknowledge that TRAKX does not provide legal or tax advice relative to these transactions. If you have any doubts about your tax status or obligations when using TRAKX services, or with respect to the digital assets held to the credit of your TRAKX account, you may wish to seek independent advice.
You acknowledge that, when, where and as required by applicable legislation, TRAKX shall report information regarding your transactions, transfers, distributions or payments to tax or other public authorities. Similarly, when, where and as required by applicable law, TRAKX shall withhold taxes related to your transactions, transfers, distributions or payments. Applicable legislation could also prompt TRAKX to request you for additional tax information, status, certificates or documentation. You acknowledge that failure to answer these requests within the timeframe defined, may result in
withholding taxes by TRAKX, to be remitted to tax authorities as defined by relevant law. You are encouraged to seek professional and personal tax advice regarding the above and before making any
digital asset transaction.
Our fees and charges are set out here (https://www.trakx.io/fees). TRAKX may, in its discretion, update the fees & charges from time to time. Please be aware of all costs and charges that apply to you, because such costs and charges will affect the gains you generate from using TRAKX services.
Third parties, such as payment providers, custodians, and banking partners may be involved in the provision of TRAKX services. You may be subject to the terms & conditions of these third parties, and TRAKX may not be responsible for any loss that these third parties may cause to you.
It is not possible for TRAKX to eliminate all security risks. You are responsible for keeping your account password safe, and you may be responsible for all the transactions under your account, whether you
authorised them or not. Transactions in digital assets may be irreversible, and losses due to fraudulent or unauthorised transactions may not be recoverable.
Given the nature of digital assets and their underlying technologies, there are a number of intrinsic risks, including but not limited to:
a) faults, defects, hacks, exploits, errors, protocol failures or unforeseen circumstances occurring in respect of a digital asset or the technologies or economic systems on which the digital asset rely;
limited to: i. distributed denial of service; ii. sybil attacks; iii. phishing; iv. social engineering; v.
hacking; vi. smurfing; vii. malware; viii. double spending; ix. majority-mining, consensus-based
or other mining attacks; x. misinformation campaigns; xi. forks; and xii. spoofing.
Digital asset markets are open 24 hours a day, 7 days a week. Rapid price changes may occur at any time, including outside of normal business hours.
When you communicate with us via electronic communication, you should be aware that electronic communications can fail, can be delayed, may not be secure and/or may not reach the intended destination.
Currency exchange fluctuations will impact your gains and losses.
Changes in laws and regulations may materially affect the value of digital assets. This risk is unpredictable and may vary from market to market.