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XBBIT Risk Disclosure Statement And Disclaimer

Updated over a year ago

Applicants hailing from or holding citizenship in countries or regions listed on this page will be denied access to XBBIT Services due to Anti-Money Laundering (AML), Counter-Terrorist Financing (CFT), or other regulatory considerations. In the event of a change in your residency or nationality, prompt notification to XBBIT is mandatory, and any engagement with XBBIT website(s) or mobile app must cease, unless written permission is obtained from XBBIT.

By engaging in cryptocurrency investments or trading through XBBIT Services, you acknowledge the possibility of incurring a complete loss of your initial investment. Therefore, it is essential to refrain from trading or investing more than you can afford to lose. You are aware that cryptocurrency transactions and staking activities are characterized by significant risk and volatility. Before using XBBIT services for buying, selling, trading, holding, or staking blockchain-based assets, it is crucial to assess your suitability for such activities.

XBBIT's services are most suitable for individuals who have a comprehensive understanding of the associated risks and products. You must possess relevant knowledge, carefully consider the inherent risks, and seek independent advice. While this Risk Disclosure Statement and Disclaimer offer a brief overview of some risks, it does not cover every aspect of potential risks. It is your responsibility to conduct thorough research on the risks involved before proceeding.

Risk Disclosure

Before engaging in the purchase, sale, trade, or holding of cryptocurrency assets or utilizing any services on this platform, it is imperative that you have a full comprehension of the associated risks. These risks include, but are not limited to:

  • Market Risks: This encompasses market volatility, economic and political conditions, and market sentiment, which can all impact the value of crypto assets.

  • Liquidity and Trading Risks: Tokens may be delisted from the exchange, affecting their liquidity and tradability.

  • Legal and Regulatory Risks: There may be uncertain legal status or regulatory changes regarding crypto assets.

  • Third-Party Risks: The potential for third parties to breach contracts or fail to fulfill obligations.

  • Cybersecurity Risks: This includes crypto network congestion, cyber-attacks, and vulnerabilities in smart contracts.

  • Electronic Transaction Risks: These involve hardware or software issues, power outages, and internet disconnections that can affect electronic transactions.

Understanding and considering these risks is essential for making informed decisions when dealing with cryptocurrencies and related services. It is your responsibility to assess these risks and proceed with caution.

Assumption of Risk

You bear sole responsibility for conducting your own research and accepting all risks and obligations associated with using XBBIT's services. By continuing to utilize XBBIT's services, you affirm that you:

(a) Understand and accept the inherent risks associated with products or services accessible through the XBBIT Platform (including its mobile app).

(b) Acknowledge and accept the inherent risks linked to cryptographic and blockchain-based systems.

You also affirm that you have conducted thorough research on the usage and intricacies of blockchain-based digital assets, including the ERC-20 token standard on the Ethereum blockchain. You recognize that transaction costs and speeds on blockchain-based systems are subject to fluctuations and may significantly increase or decrease at any time.

In light of this, you further acknowledge and consent that XBBIT bears no responsibility for these variables or the risks associated with the products, services, or information it provides. Therefore, XBBIT cannot be held accountable for any resulting losses you may incur while accessing or utilizing the service. Consequently, you comprehend and agree to assume complete responsibility for all risks associated with accessing and using the service.

Limitation of Liability

In no circumstances shall XBBIT, its officers, directors, employees, contractors, agents, affiliates, or subsidiaries be held liable to you for any indirect, punitive, incidental, special, consequential, or exemplary damages. This includes, but is not limited to, damages for loss of profits, goodwill, use, data, or other intangible assets, arising from or related to any access or use of the service.

XBBIT shall not be responsible for any damage, loss, or injury resulting from unauthorized access, hacking, tampering, or other illicit use of the service or the information it contains. XBBIT also assumes no liability for any errors, mistakes, inaccuracies, interruptions, or cessation of function related to the service. Furthermore, XBBIT disclaims any responsibility for bugs, viruses, trojan horses, or similar harmful elements transmitted through the service. Additionally, XBBIT shall not be liable for defamatory, offensive, or illegal conduct by any third party.

Under no circumstances shall XBBIT be liable for any claims, liabilities, damages, losses, or costs, regardless of the legal basis of such liability, even if advised of the possibility of such liability. This limitation of liability shall apply to the fullest extent permitted by applicable law.

No Warranties

All services are provided on an "as is" and "as available" basis. To the fullest extent permitted by law, XBBIT disclaims all representations and warranties, whether express, implied, or statutory, including, but not limited to, warranties of merchantability and fitness for a particular purpose. Your access and use of the service are entirely at your own risk.

XBBIT does not guarantee continuous, uninterrupted, timely, or secure access to the service, nor does it ensure the accuracy, reliability, completeness, or currentness of the information contained in the service. The service may not be free from errors, defects, viruses, or other harmful elements. Any advice, information, or statement provided by XBBIT should not be considered a warranty concerning the service.

XBBIT does not endorse, guarantee, or assume responsibility for any advertisements, offers, or statements made by third parties or users regarding the service. You should exercise caution and discretion when interacting with third-party content or users on the platform.

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