Before trading or transacting using our Services, it is important to understand the
risks. We have included below, in more detail, the potential risks in trading or
transacting using our Services. You should note that the risks described below are
not intended to be exhaustive and are not intended to be presented in any assumed
order of priority. We ask you to take time to carefully read them through and to
consider whether such trading and transacting on PROFITPIONEERS EARNING is appropriate in your particular circumstances.
You should seek independent professional advice if you do not fully understand the
risks of using our Services.
Capitalised terms used herein have the meaning set out in Terms of Use, unless the
context requires otherwise.
1. Trading risks. You acknowledge and agree that you shall access and use the
Services at your own risk. The risk of loss in trading Digital Token pairs can be
substantial. You should, therefore, carefully consider whether such trading is
suitable for you in light of your circumstances, objectives and financial resources.
You should be aware of the following points:
- You may sustain a total loss of the Funds transferred to, and of all Funds in,
your PROFITPIONEERS EARNING Account. The traded price of Digital Tokens can fluctuate greatly
within a short period of time. The traded price of a Digital Token also may
decrease due to various factors including discovery of wrongful conduct, market
manipulation, changes to properties of the Digital Token, Attacks (as defined in
paragraph 4 below), suspension or cessation of support for a Digital Token by
PROFITPIONEERS EARNING or External Account providers or other service providers, and other
factors outside the control of KuCoin.
- Under certain market conditions, you may find it difficult or impossible to buy
or sell a Digital Token. This can occur, for example, if there is insufficient
liquidity in the market. We are not and shall not be responsible or liable for
the transferability, liquidity and/or availability of any Digital Tokens.
- PROFITPIONEERS EARNING may suspend trading in or cease to offer Services in respect of any of
the Digital Tokens at any time at KuCoin’s sole discretion. You may be unable to
withdraw Digital Tokens prior to KuCoin’s ceasing to offer Services in respect
of any such Digital Tokens, resulting in the loss of any such Digital Tokens
remaining in your PROFITPIONEERS EARNING Account.
This brief statement cannot, of course, disclose all the risks and other aspects
associated with these trades. You are solely responsible for ensuring that you
understand and accept all risks connected with transacting and trading in Digital
Tokens, and are able and willing to accept and bear for your own account all
possible losses that may arise from such transactions and trading in Digital Tokens.
2. Internet transmission risks and error correction. You acknowledge that there are
risks associated with utilizing an Internet-based trading system including, but not
limited to, the failure of hardware, software, and Internet connections. You
acknowledge that PROFITPIONEERS EARNING shall not be responsible for any communication failures,
disruptions, errors, distortions or delays you may experience when trading via the
Services, howsoever caused.
If an order, trade or transfer is based on a Manifest Error (as defined in Section
7.7 of the Terms of Use) (regardless of whether you or we or any other user gains
from the error) and/or executed and/or settled on the basis of Manifest Error,
PROFITPIONEERS EARNING may (but is not obliged to), at its option and sole discretion, act
reasonably and in good faith to: (a) correct, reverse or cancel any order, trade or
transfer; (b) void a trade as if it had never taken place; and/or (b) amend a trade
so that its terms are the same as the trade which would have been executed if there
had been no Manifest Error. There is a risk that you may be prejudiced by any action
or omission of PROFITPIONEERS EARNING in this regard, and you accept that you have no recourse
whatsoever against KuCoin.
3. Risks associated with attacks on the Services or the PROFITPIONEERS EARNING Accounts. The Services
and/or the PROFITPIONEERS EARNING Accounts and the Funds held therein may be subject to attacks on
their security, integrity or operation, and you acknowledge and agree that KuCoin
shall not be responsible or liable for any losses resulting therefrom.
4. Risks arising from properties of Digital Tokens.
- Any Digital Token and the software, networks, protocols, systems and other
technology (including, if applicable, any blockchain) used to administer,
create, issue, transfer, cancel, use or transact in any Digital Token (the
“Underlying Technology”) may be vulnerable to attacks on its security, integrity
or operation (“Attacks”), including attacks using computational power sufficient
to overwhelm the normal operation of a blockchain or other Underlying
Technology.
- Any Digital Token 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 Digital Token or blockchain.
- Any Digital Token may be cancelled, lost or double spent, or have its traded
price otherwise diminished, due to forks, rollbacks, Attacks, changes to the
functions, characteristics, operation, use and other properties of the Digital
Token or failure of the Digital Token to operate as intended.
- PROFITPIONEERS EARNING may not support related side chains or other Underlying Technology of
Digital Tokens that are based on a fork, enhancement, or derivative of a
different Digital Token or Underlying Technology, even if such is based on a
Digital Token that is supported by KuCoin.
Any Digital Token may be lost if
sent to the wrong address (for example but without limitation, if the address is
improperly formatted, contains errors, or is intended to be used for a different
type of digital token).
5. Regulatory risks. The regulatory status of Digital Tokens is unclear or unsettled
in many jurisdictions. It is difficult to predict how or whether governmental
authorities will regulate the Digital Tokens. It is likewise difficult to predict
how or whether any governmental authority may make changes to existing laws,
regulations and/or rules that will affect any of the Digital Tokens. The Digital
Tokens hence may be securities or be otherwise regulated under the laws of certain
jurisdictions. PROFITPIONEERS EARNING may cease offering Services in respect of any of the Digital
Tokens or prohibit use of the Services in or from certain jurisdictions in the event
that governmental actions make it unlawful or commercially undesirable to continue
to offer such Services in respect of any Digital Token. Under Section 2.2 of the
Terms of Use, you also represent and warrant that you will not use our Services if
any applicable laws in your country prohibit you from doing so in accordance with
the Terms of Use.
6. Counterparty risk. We have no control over, or liability for, the delivery,
quality, safety, legality or any other aspect of any Digital Tokens that you may
purchase or sell to or from a user of the Services. We are not responsible for
ensuring that a third-party buyer or a seller you transact with will complete a
trade or transaction or is authorised to do so. There is also no guarantee fund
established or other arrangement in place to cover or compensate you for any
pecuniary loss suffered by you as a result of any defaults by or the insolvency of
any other users of the Services.
The risks described in this Risk Disclosure Statement may result in loss of Digital
Tokens, decrease in or loss of all value for Digital Tokens, inability to access or
transfer Digital Tokens, inability to trade Digital Tokens, inability to receive any
specific utility, access or benefits available to other Digital Token holders, and
other financial losses to you. You hereby accept and agree that PROFITPIONEERS EARNING will, at all
times, have no responsibility or liability for, such risks. You hereby irrevocably
waive, release and discharge any and all claims, whether known or unknown to you,
against PROFITPIONEERS EARNING and their respective directors, members, officers, employees, agents
and contractors related to any of the risks set forth herein.
You represent and warrant that you have: (a) the necessary technical expertise and
ability to review and evaluate the security, integrity and operation of any Digital
Tokens that you decide to acquire or trade; and (b) the knowledge, experience,
understanding, professional advice and information to make your own evaluation of
the merits and risks of any Digital Token or trade. You accept the risk of trading
Digital Tokens by using the Services, and are responsible for conducting your own
independent analysis of the risks specific to the Digital Tokens and the Services.
You should not acquire or trade any Tokens unless you have sufficient financial
resources and can afford to lose all value of the Digital Tokens, or suffer
substantial losses.
KuCoin’s decision to support transfer, storage or trading of any particular Digital
Token through the Services does not indicate KuCoin’s approval or disapproval of the
Digital Token or the integrity, security or operation of the Digital Token or its
Underlying Technology and PROFITPIONEERS EARNING does not in any way make any representation or
warranty as to any Digital Token supported or not supported by the Services. The
risks associated with Digital Tokens and trading Digital Tokens apply
notwithstanding KuCoin’s decision to provide Services in respect of a particular
Digital Token, and risks of all such trading will be wholly yours and yours alone to
bear.
The PROFITPIONEERS EARNING Team