Information on the risks of investing in crypto assets
At Bitnovo we want to be transparent and inform you of the risks of buying cryptocurrencies so that you can make a properly informed decision, being aware of the risks of this investment. Therefore, if you decide to acquire any of the cryptocurrencies through us, we inform you that you must take into account the following risks:
High risk investment product
1. The value of the investments and the return obtained from them may experience significant upward and downward variations, and the entire amount invested may be lost.
2. Investments in early-stage projects involve a high level of risk, so it is necessary to properly understand their business model.
3. The crypto assets we offer are not covered by customer protection mechanisms such as the Deposit Guarantee Fund or the Investor Guarantee Fund.
4. The prices of crypto assets are constituted in the absence of mechanisms that ensure their correct formation, such as those present in regulated securities markets.
5. Many crypto assets may lack the liquidity to undo an investment without significant loss, as their circulation among investors, both retail and professional, may be very limited.
6. Distributed registry technologies are still in an early stage of maturity, many of these networks having been created recently, so they may not be sufficiently tested and there may be significant flaws in their operation and security.
7. The registry of transactions in networks based on distributed registry technologies works through consensus protocols that may be susceptible to attacks that attempt to modify said registry and, in the event of these attacks being successful, there would be no alternative registry to support said transactions. transactions nor therefore to the balances corresponding to the public keys, being able to lose all the crypto assets.
8. The anonymity facilities that cryptoactives can provide make them a target for cybercriminals, since in the case of stealing credentials or private keys they can transfer the cryptoactives to addresses that make their recovery difficult or impossible.
9 . The custody of the cryptoactives supposes a very relevant responsibility since they can be lost in their entirety in the event of theft or loss of the private keys.
BITNOVO does not carry out the custody of the advertised cryptoactives, being the only its custody the user.
10. The acceptance of crypto assets as a means of exchange is still very limited and there is no legal obligation to accept them.
11. When the service provider is not located in a country of the European Union, the resolution of any conflict could be costly and fall outside the scope of the Spanish authorities. BITNOVO is located in Valencia (Spain) covered by Spanish and European regulations. BITNOVO is registered in the Bank of Spain's Registry of virtual currency exchange service providers for fiduciary currency with code number D687, in accordance with the provisions of the Second Additional Provision of Law 10/2010, of April 28, prevention of money laundering and financing of terrorism.
12. From Bitnovo, as you can see we are not custodians of your wallet, being your only responsible for your wallet, much less do we know your security seed. The user of the wallet has all the rights over it, being able to buy or sell as they wish, obtaining losses and/or profits.
If with all this information you have doubts, you can obtain more information in the FAQS on our website or contact us directly through firstname.lastname@example.org PRESSBROKERS SL