General Risk Warning

Last revised: Aug 23rd 23 7:49:40 pm

A. How to interpret this Risk Warning

All terms used in this notice, which are defined in the Wagmix Terms of Use, have the same meaning and construction as in the Terms of Use.

B. Wagmix Services

This notice provides you with information about the risks associated with Wagmix Services. Each Wagmix Service has its distinct risks. This notice provides a general description of the risks when you use Wagmix Services.

This notice does not explain all of the risks or how such risks relate to your circumstances. It is important that you fully understand the risks involved before deciding to use Wagmix Services.

C. No Personal Advice

We do not provide personal advice about 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 Wagmix 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

Wagmix 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 Wagmix Services. We do not monitor whether your use of Wagmix 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 your risk appetite for 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 Wagmix Services. You are responsible for reporting and paying any taxes that may arise from transacting on Wagmix Services, and you acknowledge that Wagmix does not provide legal or tax advice relative to these transactions. If you have any doubts about your tax status or obligations when using Wagmix Services, or concerning the Digital Assets held to the credit of your Wagmix account, you may wish to seek independent advice.

You acknowledge that, when, where, and as required by applicable legislation, Wagmix 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, Wagmix shall withhold taxes related to your transactions, transfers, distributions, or payments. Applicable legislation could also prompt Wagmix to request 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 Wagmix, 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 are set out on our website. Wagmix may, at its discretion, update the fees & charges from time to time. Please be aware of all costs and charges that apply to you, as such costs and charges will affect the gains you generate from using Wagmix Services.

I. Availability Risk

We do not guarantee that Wagmix Services will be available at any particular time or that Wagmix 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 Wagmix 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. Any Wagmix 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 concerning the access to and use of the Platform and the Wagmix Services in each jurisdiction from which the Platform and the Wagmix Services are accessed by or on behalf of the User. Wagmix reserves the right to change, modify, or impose additional restrictions concerning the access to and use of the Platform and/or the Wagmix 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 Wagmix Services. You may be subject to the terms & conditions of these third parties, and Wagmix may not be responsible for any loss that these third parties may cause to you.

K. Security Risk

Wagmix can't eliminate all security risks. You are responsible for keeping your Wagmix Account password safe, and you may be responsible for all the transactions under your Wagmix 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 several intrinsic risks, including but not limited to:

  1. 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;
  2. transactions in Digital Assets being irreversible. Consequently, losses due to fraudulent or accidental transactions may not be recoverable;
  3. technological development leading to the obsolescence of a Digital Asset;
  4. delays causing a transaction not to be settled on the scheduled delivery date; and
  5. 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.