11. RISK DISCLOSURES
The following list of risks associated with Digital Assets and the Services is not exhaustive.
ID.DEX provides an execution-only service and does not advise on the merits of any particular transactions, trading risk or their tax consequences, and ID.DEX does not provide any other financial, investment or legal advice in connection with the Services. To the extent that we or our representatives do provide trading recommendations, market commentary, or any other information, the act of doing so is incidental to your relationship with us and such information may not be considered as investment or financial advice and should not be construed as such. Any decision to buy or sell Digital Assets is the User’s decision and ID.DEX will not be liable for any loss suffered.
You accept the risk of trading Digital Assets. In entering into any transaction on ID.DEX, you represent that you have been, are, and will be solely responsible for making your own independent appraisal and investigations into the risks of the transaction and the underlying Digital Asset. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any transaction or any underlying Digital Asset.
Digital Assets and transfers
Trading Digital Assets can be extremely risky. Each Digital Asset has unique features that make it more or less likely to fluctuate in value. In addition, factors beyond ID.DEX’s control may affect market liquidity for a particular Digital Asset, such as regulatory activity, market manipulation, or unexplainable price volatility. Blockchain networks may go offline as a result of bugs, Forks (defined below), or a number of other unforeseeable reasons. As a general matter, we advise Users with limited trading experience and low risk tolerance not to engage in active trading. Speculating on the value of Digital Assets is high risk and Users should never trade more than they can afford to lose.
Understanding Digital Assets requires advanced technical knowledge. Digital Assets are often described in exceedingly technical language that requires a comprehensive understanding of applied cryptography and computer science in order to appreciate inherent risks. Listing of a Digital Asset on ID.DEX does not indicate approval or disapproval of the underlying technology regarding any Digital Asset and should not be used as a substitute for your own understanding of the risks specific to each Digital Asset. We give you no warranty as to the suitability of the Digital Asset traded under this Agreement and assume no fiduciary duty in our relations with you.
Users accept all consequences of sending Digital Assets to an address off our platform. Digital Asset transactions may not be reversible. Once you send Digital Assets to an address, you accept the risk that you may lose access to your Digital Assets indefinitely. For example, an address may have been entered incorrectly and the true owner of the address may never be discovered, or an address may belong to an entity that will not return your Digital Assets, or an address belongs to an entity that may return your Digital Assets but first requires action on your part, such as verification of your identity.
Supply and value of Digital Assets
The ability for you to purchase Digital Assets using ID.DEX is contingent on there being a counterparty willing to sell the same Digital Asset, which is outside of ID.DEX’s control. ID.DEX makes no promises as to the timing or availability of the ability to purchase Digital Assets via the platform.
The value of Digital Assets may be derived from the continued willingness of market participants to exchange Digital Assets for Digital Assets, which may result in the potential for permanent and total loss of value of a particular Digital Asset should the market for that Digital Asset disappear.
You acknowledge and agree that Digital Assets and/or ID.DEX features available in one jurisdiction may not be available for trading or to access, as applicable, in another.
Software protocols and operational challenges
The software protocols that underlie Digital Assets are typically open source projects, which means that (i) the development and control of such Digital Assets is outside of ID.DEX’s control and (ii) such software protocols are subject to sudden and dramatic changes that might have a significant impact on the availability, usability or value of a given Digital Asset.
You are aware of and accept the risk of operational challenges. ID.DEX may experience sophisticated cyber attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Services. You understand that the Services may experience operational issues that lead to delays. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold ID.DEX accountable for any related losses.
You are responsible for complying with applicable law. You agree that ID.DEX is not responsible for determining whether or which laws may apply to your transactions, including tax law. You are solely responsible for reporting and paying any taxes arising from your use of the Services.
Legislative and regulatory changes
Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of Digital Assets.
No deposit protection
Digital Assets held in your Account are not subject to deposit insurance protection, including without limitation, where your Country of Residence is (i) the United States, Federal Deposit Insurance Corporation insurance or Securities Investor Protection Corporation protections; or (ii) outside of the United States, any equivalent scheme.