General Risk Warning
A. How to interpret this Risk Warning All terms used in this notice, which are defined in the ZFIR Terms of Use (referred to as the "Terms of Use"), have the same meaning and construction as in the Terms of Use.
B. ZFIR Services This notice provides you with information about the risks associated with ZFIR Services. Each ZFIR Service has its own distinct risks. This notice provides a general description of the risks when you use ZFIR Services.
This notice does not explain all of the risks or how such risks relate to your personal circumstances. It is important that you fully understand the risks involved before making a decision to use ZFIR Services.
C. No Personal Advice We do not provide personal advice in relation to our products or services. We sometimes provide factual information, information about transaction procedures, and information about the potential risks. However, any decision to use our products or services is made by you. No communication or information provided to you by ZFIR is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. You are solely responsible for determining whether any investment, investment strategy, or related transaction is appropriate for you according to your personal investment objectives, financial circumstances, and risk tolerance.
D. No Monitoring ZFIR is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities undertaken by you using ZFIR Services. We do not monitor whether your use of ZFIR Services is consistent with your financial goals and objectives. It is up to you to assess whether your financial resources are adequate for your financial activity with us and to your risk appetite in the products and services you use.
E. No Tax, Regulatory, or Legal Advice The taxation of Digital Assets is uncertain, and you are responsible for determining what taxes you might be liable to and how they apply when transacting through ZFIR Services. It is your responsibility to report and pay any taxes that may arise from transacting on ZFIR Services, and you acknowledge that ZFIR does not provide legal or tax advice relative to these transactions. If you have any doubts about your tax status or obligations when using ZFIR Services or with respect to the Digital Assets held to the credit of your ZFIR account, you may wish to seek independent advice.
You acknowledge that, when, where, and as required by applicable legislation, ZFIR shall report information regarding your transactions, transfers, distributions, or payments to tax or other public authorities. Similarly, when, where, and as required by applicable law, ZFIR shall withhold taxes related to your transactions, transfers, distributions, or payments. Applicable legislation could also prompt ZFIR to request you for additional tax information, status, certificates, or documentation. You acknowledge that failure to answer these requests within the timeframe defined may result in withholding taxes by ZFIR, to be remitted to tax authorities as defined by relevant law. You are encouraged to seek professional and personal tax advice regarding the above and before making any digital asset transaction.
F. Market Risks Digital Asset trading is subject to high market risk and price volatility. Changes in value may be significant and may occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and any returns can go down as well as up, and you may not get back the amount you had invested.
G. Liquidity Risk Digital Assets may have limited liquidity which may make it difficult or impossible for you to sell or exit a position when you wish to do so. This may occur at any time, including at times of rapid price movements.
H. Fees & Charges Our fees and charges are set out here. ZFIR may, in its discretion, update the fees & charges from time to time. Please be aware of all costs and charges that apply to you because such costs and charges will affect the gains you generate from using ZFIR Services.
I. Availability Risk We do not guarantee that ZFIR Services will be available at any particular time or that ZFIR Services will not be subject to unplanned service outages or network congestion. It may not be possible for you to buy, sell, store, transfer, send, or receive Digital Assets when you wish to do so.
There are legal requirements in various countries that may restrict the products and services that ZFIR can lawfully provide. Accordingly, some products and services and/or certain functionality within the Platform may not be available or may be restricted in certain jurisdictions or regions or to certain Users, and any ZFIR campaigns, user competitions, or other promotions will not be open to (and are not targeted at or intended for) Users to whom restrictions apply. Users are responsible for informing themselves about and observing any restrictions and/or requirements imposed with respect to the access to and use of the Platform and ZFIR Services in each jurisdiction from which the Platform and ZFIR Services are accessed by or on behalf of the User. ZFIR reserves the right to change, modify, or impose additional restrictions with respect to the access to and use of the Platform and/or ZFIR Services from time to time in its sole discretion without notification.
J. Third Party Risk Third parties, such as payment providers, custodians, and banking partners may be involved in the provision of ZFIR Services. You may be subject to the terms & conditions of these third parties, and ZFIR may not be responsible for any loss that these third parties may cause to you.
K. Security Risk It is not possible for ZFIR to eliminate all security risks. You are responsible for keeping your ZFIR Account password safe, and you may be responsible for all transactions under your ZFIR Account, whether you authorized them or not. Transactions in Digital Assets may be irreversible, and losses due to fraudulent or unauthorized transactions may not be recoverable.
L. Risks related to Digital Assets Given the nature of Digital Assets and their underlying technologies, there are a number of intrinsic risks, including but not limited to:
- Faults, defects, hacks, exploits, errors, protocol failures, or unforeseen circumstances occurring in respect of a Digital Asset or the technologies or economic systems on which the Digital Asset relies.
- Transactions in Digital Assets being irreversible. Consequently, losses due to fraudulent or accidental transactions may not be recoverable.
- Technological development leading to the obsolescence of a Digital Asset.
- Delays causing transactions not to be settled on the scheduled delivery date.
- Attacks on the protocol or technologies on which a Digital Asset depends, including, but not limited to: i. distributed denial of service; ii. sybil attacks; iii. phishing; iv. social engineering; v. hacking; vi. smurfing; vii. malware; viii. double spending; ix. majority-mining, consensus-based or other mining attacks; x. misinformation campaigns; xi. forks; and xii. spoofing.
M. Monitoring Risks Digital Asset markets are open 24 hours a day, 7 days a week. Rapid price changes may occur at any time, including outside of normal business hours.
N. Communication Risks When you communicate with us via electronic communication, you should be aware that electronic communications can fail, can be delayed, may not be secure and/or may not reach the intended destination.
O. Currency Currency exchange fluctuations will impact your gains and losses.
P. Legal Risk Changes in laws and regulations may materially affect the value of Digital Assets. This risk is unpredictable and may vary from market to market.