Dealing with cryptocurrencies, in general, entails specific risks. This risk disclosure statement cannot and does not disclose all risks and other aspects involved in engaging in financing or financed transactions in cryptocurrencies. Risks include, but are not limited to, the following:
- Market Risk
The market for cryptocurrencies is still new and uncertain. No-one should have funds invested in cryptocurrencies or speculate in cryptocurrencies that he or she is not prepared to lose entirely. Whether the market for one or more cryptocurrencies will move up or down, or whether a cryptocurrency will lose all or substantially all its value, is unknown and this applies to all users. Users should be cautious about holding cryptocurrencies.
- Liquidity Risk
Markets for cryptocurrencies have varying degrees of liquidity. Some are quite liquid while others may be thinner. Thin markets can amplify volatility. There is never a guarantee that there will be an active market for one to buy and sell cryptocurrencies derived from them. SenexPay makes no representations or warranties about whether a cryptocurrency or fiat may remain traded on the Site at any point in the future, if at all. While SenexPay remains a bitcoin-based platform, any new cryptocurrency (in the future) is subject to delisting without notice or consent.
- Legal Risk
The legal status of most cryptocurrencies may be uncertain, and this can mean that the legality of holding or transacting with them is not always clear. Whether and how a cryptocurrency constitute property, or assets, or rights of any kind may also seem unclear. Users are responsible for knowing and understanding how cryptocurrencies will become addressed, regulated, and taxed under applicable law.
- Transaction Risk
In addition to liquidity risks, values in any cryptocurrency marketplace are volatile and can shift quickly. Users in any cryptocurrency market are at this moment warned that they should pay close attention to their positions, and how they may become impacted by sudden and adverse shifts in market prices and activities. SenexPay possesses absolutely no control over price volatility and therefore takes no responsibility in such instance.
- Risks Associated with Financing Activities
When you finance a purchase or sale of cryptocurrency on a peer-to-peer basis, you run the risk of losing your provided financing. Similarly, when you accept funding to enter a transaction agreement, you also take the chance of not being able to repay that financing (e.g., if the market price of the cryptocurrency you purchased with the funding falls). Participants should know all the terms of any transaction they enter and how other market and risk factors can affect their financing obligations.
- Risks Associated with Third-Party Wallets