Risk Disclaimer

Date:2019-07-10 00:00:00

The trading of goods and products, real or virtual, as well as crypto-currencies as well as the use of the Groshexchange Platform involves significant risk, and the User specifically agrees to assume the risks set out in this Disclaimer (“Risks”) as well as other risks not set out herein which are inherent to online trading and cryptocurrency speculation.

The User agrees to assume the following risks and acknowledges and agrees that Groshexchange SHALL NOT be responsible for or otherwise liable for any direct or indirect loss or damage of any kind whatsoever arising directly or indirectly from the occurrence in full or in part of any and all of the following Risk events:

Trading risk: 

There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market.

Price fluctuation risk: 

Cryptocurrency prices can and do fluctuate greatly on any given day and due to such price fluctuations, the User’s cryptographic assets may be subject to large swings in value and may even become worthless.

Risk in placing orders: 

An Order may be incomplete and incorrect, Limit Orders and Stop Orders may not be (and are not guaranteed) executable at the price or amount specified by the User. Orders may be cancelled at Groshexchange's discretion or for any other reason.

The User, Groshexchange or any third party (including a Financial or Payment Institution or hacker) may send crypto to the wrong wallet address during the funding or withdrawal of their Groshexchange account.

The User may inadvertently due to their own error or because of a system or human error place an Order for the wrong asset resulting in an unwanted Order.

The User may be prevented from sending an Order or email may not be received by Groshexchange or the Services, due to hardware, software or services issues (including, without limitation, Internet and other network connectivity issues).

The Transaction request or email to Groshexchange or the Services may be lost, intercepted or altered during transmission.

An Order may not place completely, or may be placed at the wrong price or may suffer an unexpected delay for any of a variety of reasons.

Unauthorized third parties may access or use their Groshexchange account and effect Transactions without their knowledge or authorization.

Groshexchange may refuse to act upon any instruction from a User or any person authorized by the User if Groshexchange reasonably believes that the transaction, pursuant to the instruction submitted, will be in violation of e.g. Market Rules, usual market practice, and/or applicable law, including, but not limited to, legislation on money laundering and insider trading.

Information risk 

There may be errors or omissions on the reporting module or otherwise delay, inaccuracy, error, interruption or omissions in providing market quotations or other information provided on the Site on which the User might rely in making an Order.

 Exchange risk 

There may be errors, acts or omissions by the Counterparty Exchange or the Counterparty Exchange system may suffer a partial or complete failure, including, without limitation, a cyber attack, such as phishing, pharming, etc, failure of hardware, software, human error, etc.

Financial or Payment Institution risk: 

Errors, acts or omissions of the Financial or Payment Institution, including delays in sending or receiving funds from the User’s account on Groshexchange to or from a Financial or Payment Institution.

Exceptional Market Conditions risk: 

Exceptional Market Conditions, Force Majeure Events and similar events can cause the booking of funds to be delayed.

Tax risk: 

Transactions the User completes using the Trading Platform may be subject to various taxes, such as VAT, sales tax or transfer taxes that are imposed and any profit or loss the User obtain therefrom.

Account/Password appropriation risk: 

Unauthorised access by third parties of the User’s login credentials to gain access to the User’s Groshexchange account, including through carelessness or forgetfulness of the User, or the third party obtaining control over another device or account used by the User in connection with any enhanced security measures enabled for its account.

Token risk: 

The features, functions, characteristics, operation, use and other properties of any Token (“Token Properties”) and the software, networks, protocols, systems, and other technology (including, if applicable, any blockchain) (“Underlying Technology”) used to administer, create, issue, transfer, cancel, use or transact in any Token may be complex, technical or difficult to understand or evaluate, and Groshexchange agrees no obligation to provide individual advice or information in respect of any Token, Token Properties or Underlying Technology.

Any Token and its Underlying Technology may be vulnerable to attacks on the security, integrity or operation of the Token or its Underlying Technology (“Attacks”), including Attacks using computing power sufficient to overwhelm the normal operation of a blockchain or other Underlying Technology.

Any Token, Token Properties or Underlying Technology may change or otherwise cease to operate as expected due to a change made to the Underlying Technology, a change made using features or functions built into the Underlying Technology or a change resulting from an Attack. These changes may include, without limitation, a “fork” or “rollback” of a Token or blockchain.

Any Token may be cancelled, lost or double spent, or otherwise lose all or most of their value, due to forks, rollbacks, Attacks, changes to Token Properties or failure of the Token to operate as intended..

Groshexchange may suspend or cease to support the transfer, storage or trading of any Token at any time at Groshexchange’s discretion. Other exchanges and service providers may do the same.

Groshexchange may suspend or reject Orders, suspend or cease support for Tokens, or suspend or terminate the User’s access to the Services to comply with applicable laws or regulations or an order from law enforcement or other governmental authority, for other reasons as specified in these Terms or otherwise at Groshexchange’s discretion.

The User may be unable to withdraw Tokens prior to Groshexchange ceasing to support transfer of any such Tokens, resulting in the loss of any such Tokens remaining in the User’s Groshexchange Account.

Any Token may decrease in value or lose all of its value due to various factors including discovery of wrongful conduct, market manipulation, changes to Token Properties or perceived value of Token Properties, Attacks, suspension or cessation of support for a Token by Groshexchange or other exchanges or service providers, and other factors outside the control of Groshexchange.

Any Token may decrease in value or lose all of its value due to legislative or regulatory activity, or other government.