Trading digital assets carry huge financial risks, that anyone must be prepared for.
Entering the market should be a decision that you make with full information so you can effectively assess its underlying risks. The unpredictable price movements of digital assets known in the cryptocurrency market should be one of the top considerations when establishing market positions. But beyond that, there are also other risks that you will be exposed which you should be made aware of.
Therefore, trading digital tokens should be a well-understood financial decision. You must not make this choice without taking into account all the risks that you expose yourself into. The purpose of this Risk Disclosure Document is to explain the primary risks that come with trading, holding, or leveraging digital assets. Do note, however, that this list might not be able to fully dissect every other possible risk that exists when dealing with these assets.
Furthermore, this Statement is in fulfilment of the Terms of Service enacted and agreed upon by users of the platform.
The primary risks of holding, trading, and leveraging digital assets include, but are not limited to:
It is important to know that due to volatility of the cryptocurrency markets, users may lose fiat value of cryptocurrency. However losses are not solely due to market volatility. Losses can occur because of market reaction due to the action of de listing of particular assets from well-known exchanges, blockchain hacks, influencer social media and news media activity. The platform will not be held responsible for such losses. Please do your own research prior to buying/selling cryptocurrency.
There are a lot of factors that may affect the value of a cryptocurrency. This is what creates volatility in the market, which Chaingeangel.io should not be held responsible for. The movement of the prices in any particular cryptocurrency that you purchase, store, or transfer, should be contemplated before conducting any transaction. In such cases of financial loss due to huge cryptocurrency price changes, the responsibility should not be held against the exchange as it is your responsibility to assess the risks of entering market positions.
It must be understood that the categorization of digital assets in several jurisdictions can be different. There are situations when a new legislation passed can affect how digital assets are recognized, which subsequently affects how they are regulated. The responsibility is left upon the user to know and assess how these particular regulations, as well as other legally-binding decisions made by a governing body, may potentially impact their holdings. In the instances where a new local policy is enacted, resulting in potential losses or unexpected changes in the taxation of your asset, the platform bears no responsibility as well.
Most digital asset projects are open source, decentralized and unregulated. Therefore, they aren’t supervised by any central authority. Furthermore, the economic models for most of these digital assets cannot be influenced by any other party. This makes it unlikely, even for the platform developers or Changeangel.io, to make emergency interventions in case a crisis occurs or when there is an isolated instance when cryptocurrency supplies have to be adjusted.
Understand that the irreversibility of transactions should be a risk factor as well. Once a transaction is broadcasted to the chain, or simply, when an order of purchase, selling or transfer is made and fulfilled, they cannot be reversed anymore. This is the nature of blockchain, where no central authority can intervene with any transaction as they occur on-chain. The responsibility to ensure that transactions are correct rests on the users, and the platform will not be liable for a user’s error in inputting cryptocurrency wallet addresses or any other detail pertaining to digital asset transactions. Please check and double-check addresses before sending. If in doubt, don't use the platform or ask questions.
Transactions made on-chain require internet connection in order to interact with the blockchain. This means that it must be the responsibility of the user to ensure that their hardware, software, and access to the internet are reliable in times that a transaction needs to be made. Failure of transaction executions which may result in losses, due to hardware, software, or internet connection failure, should not be held against Changeangel.io.
Blockchain Fork Risks
Since most blockchain projects are, for the most part, maintained by their own communities and network participants, there is a risk for these networks to undergo a massive modification. This can come in the form of a fork, which heavily affects the holdings of a blockchain network’s particular users. In such cases where the asset you hold becomes ‘split,’ Changeangel.io should not be held responsible. However, the platform can still initiate efforts to recover split assets as soon as six (6) months from the date that a blockchain fork occurs.
Unforeseeable events involving your position and the state of the cryptocurrency market may happen at any given time, as is true with any nascent market. This can also expand to massive changes on the platform, as well as the fundamentals of blockchain technology, which can significantly impact your holdings. These are potential risks that Changeangel.io may not be able to predict and inform you in time. Yet they could affect your cryptocurrency purchase, storage, usage, or transfer.
Malware or your system hacks.
You have to make sure that your own system is free of Malware and other risks. This includes using appropriate browsers to access the platform. Changeangel.io will not be responsible for your failures in ensuring your own safety.
There are internet browsers that record crypto addresses and autofil forms with previously used addresses by you or address that are forwarded by malware. It is your responsibility to secure your systems before using changeangel.io. Failure to do this may result in loss of your funds. Changeangel.io will not be held responsible for such events.
Humans make mistakes. One of those mistakes is sending crypto to wrong address. Changeangel will not be held responsible for you sending crypto to wrong address. You are your own keeper of funds and thus should secure and take appropriate measures to ensure you send the funds to the correct address.
Changeangel does not have an obligation to report any Transaction history to any tax authorities in any Jurisdiction. However, based on your own jurisdiction, you may have that responsibility. We provide a downloadable Transaction history for you to make the appropriate calculations. Changeangel is not responsible for your tax reporting.
Value in Bitcoin and Transactions
Our exchange rates are based on the value of bitcoin. This means that the rates we show are based on bitcoin sats and not fiat values. The rates are displayed as estimates only, due to the volatility of markets that may happen during the time taken in sending and exchanging. Sooner you send your crypto to exchange, lower the risk of price movements against you.
Your own wallet issues.
Changeangel will not be responsible for your own wallet issues. This includes sending and receiving. Updating and keeping your wallet safe is your responsibility.
Accidentally sending to previously used addresses
If by mistake you send crypto to a previously shown address, instead of the address shown to you by changeangel, during a current transaction, the chances are that you may lose your funds. All older addresses are redundant and is not accessible.