BTCX is a platform operated by Goobit AB and we are committed to providing secure and reliable crypto-asset services to our customers. It is therefore crucial that you, as a customer, understand the risks associated with the purchase and sale of crypto-assets. Although crypto-assets may share certain characteristics with other forms of investment, they also entail specific risks inherent to their nature and the transactions in which they are involved. Below is a summary of key information and certain principal risks related to Bitcoin and other types of crypto-assets. Please note that the following is not an exhaustive list of risks.
- We do not offer crypto-asset services to individuals under the age of 18.
- The market for crypto-assets is characterized by high volatility, meaning that prices may fluctuate rapidly and substantially. There is a risk that you may lose all or part of your investment. You are therefore advised to invest only funds that you can afford to lose.
- Crypto-assets must not be equated with monetary assets, either legally or practically, as their value is not guaranteed by any state or equivalent entity. In Sweden, crypto-assets have limited applicability as a means of payment and are generally regarded as assets rather than currency.
- You, as the customer, bear sole responsibility for remaining informed about tax regulations relevant to crypto-asset trading in your jurisdiction. While crypto-assets are a global phenomenon, there are jurisdictions in which they are prohibited. You are required to ensure compliance with local laws and any updates thereto.
- As BTCX services are internet-based, you should be aware of the general risks associated with internet usage. Technical failures such as network outages or hardware malfunctions may occur and could result in communication issues or other disruptions when accessing our services.
- Given the volatile nature of the crypto-asset market, and in combination with general internet-related risks and the time required to process and execute certain transactions, crypto-asset transactions may be subject to exchange rate risk. Accordingly, the exchange rate applicable at the time of transaction execution may differ from the rate calculated at the time of transaction initiation.
- Crypto-assets and blockchain transactions are inherently irreversible. Once a transaction has been recorded on the blockchain, it cannot be revoked or cancelled. If BTCX has carried out a transaction on the blockchain at a customer’s request, it therefore cannot be undone or recovered.
- A crypto-asset is a digital product that is deemed to be consumed immediately upon delivery. As such, there is no statutory right of withdrawal or return policy.
- You must never access or use BTCX services through, or at the instruction of, a third party. If BTCX enters into a collaboration with an external provider, this will be clearly communicated through our official channels. Any third party who contacts you without solicitation and claims to represent BTCX is not authorized and should be regarded as illegitimate.