(BITOY) Risk Disclosure

This risk disclosure statement is intended to provide information about the risks associated with the use of the "Bitoy" trading platform and other services offered by our company. While this risk disclosure statement provides some important information, it does not cover all potential risks and other key factors. Before deciding to use or access the related services, you should assess them on your own and may seek advice from independent advisors, including financial and legal advisors, to obtain advice that you deem necessary or beneficial. Please note that your capital is at risk, so please carefully read the following information.

Digital Assets
The term "digital assets" does not specifically refer to any category under any national legal or regulatory framework. The value of digital assets may fluctuate, and there is a significant risk of capital loss when buying, selling, holding, or investing in digital assets. Each digital asset has its unique characteristics, and you should conduct research and fully understand the asset before trading it. It should be noted that (Bitoy) is not affiliated with the teams of digital asset projects listed on its platform.

Non-Investment Advice
Any (Bitoy) products related to digital assets, including the (Bitoy) website or app, (Bitoy) exchange, information in emails, or any other communication, are provided for general informational purposes only. Please be aware that (Bitoy) does not provide investment, tax, or legal advice. You have full responsibility to determine whether any investment, investment strategy, or related transaction is suitable for you based on your individual investment goals, financial situation, and risk tolerance. This information should not be construed as advice or solicitation to buy, sell, pledge, or hold any digital assets, or to open an account or engage in any specific trading strategy. Before engaging in digital asset trading, pledging, or holding, you should consult with your financial advisor, legal advisor, or tax professional to understand your specific circumstances and financial situation and carefully consider whether it is suitable for you.

No Insurance
Digital assets and (Bitoy) accounts are not covered by insurance against loss. They are not protected by any federal deposit insurance corporation or securities investor protection corporation in the United States or anywhere else in the world.
License-Related Disclosure
(It is currently unknown whether the new site holds any licenses or permits.)

A. General Trading and Financial Risks
1. Trading Risk
You assume the risk of using the services provided by our company. There is no guarantee that using these services will result in positive returns or profits, or that there will be no significant losses, or that your objectives will be achieved. All contracts traded on the trading platform require the deposit and settlement of digital assets such as Bitcoin and Tether.
Contracts traded on the trading platform are considered derivative instrument contracts and may not be suitable for everyone. You can only provide funds from your own wallet and trade digital assets that you own and can afford to lose. You may incur losses of some or all of your funds. Additionally, using certain services may entail higher loss risks inherent in the contracts available for trading. Therefore, you should carefully consider whether you can bear the loss risks associated with using these services, particularly trading derivative instrument contracts.
The trading platform is designed to ensure that the maximum risk faced by any trading user's position on the platform does not exceed the actual amount of digital assets allocated to the relevant position (via fees, funds, margin, and/or premiums). Trading users will have a net position in any given contract randomly. If a position is forcibly liquidated, the digital asset margin allocated to that position will be lost, up to the entire balance of the trading user's account.
2. Index-Related Risks
Certain services and contracts on the trading platform depend on index prices, which are used for margin and/or settlement valuation purposes. If you need more information about the indices used in any contract type, please click here to view the relevant contract specifications and descriptions on this website. For detailed information on specific indices, including their composition, calculation methodologies, and potential safeguards, please refer to this and this. Please note that the calculation methods and publication methods of various indices make them not entirely consistent with the prices of underlying assets or a basket of assets reported publicly. Therefore, the value of indices and their performance may differ significantly from the prices of any (or a basket of) assets reported publicly. Additionally, changes to the components of the indices, calculation methods, or errors in index calculation resulting from changes in trading values and volumes on the specific third-party exchanges used for index calculation may affect contract profits, losses, margin, and settlement on the trading platform.
The composition, calculation methods, and safeguards of any index may change at any time, and our company has the sole discretion to make such changes without prior notice.
It should be noted that trading derivative instrument contracts is different from buying any (or a basket of) assets and does not involve ownership of any assets or their components. The returns on positions do not reflect the situation when trading users own (or short) any assets or a basket of assets.
The indices mentioned may be managed and calculated by our company or any third-party service provider. Index managers (including our company) have the right to add, remove, or replace components of an index at any time or make other changes to the calculation of the index value. Modifications to the components of an index may impact its value, as the performance of newly added components may differ from those being replaced. Our company also reserves the right to change, suspend, or terminate the calculation or dissemination of an index at any time without considering the interests of any users. Our company shall not be responsible for any direct or indirect losses resulting from changes in index methods.
Furthermore, because digital asset derivatives (including contracts) are relatively new, the impact of price fluctuations in underlying assets on them is uncertain.
3. Accuracy of Information
Our company has made every effort to ensure the accuracy of the information displayed by the services, but there is still a risk of incorrect, incomplete, or outdated information.
4. Price Volatility
Compared to other assets such as stocks, bonds, and other tradable instruments, the price of digital assets is difficult to predict and is subject to constant fluctuations. Before trading digital asset derivatives, you need to understand the nature of these derivatives and your risk tolerance. Any spreads or other fees associated with contracts may increase price volatility.
5. Liquidity Risk
Digital asset derivatives (including those traded on the trading platform) carry higher risks, lower liquidity, greater volatility, and are more susceptible to economic, political, market, industry, regulatory, and other changes compared to other types of contracts. The liquidity of the contract market depends on supply and demand as well as commercial and speculative interests in these contracts in the market. Due to the trading of contracts on a closed trading system, there are restricted trading volumes and liquidity risks.
A lack of liquidity in the contract market can result in order execution delays, and in some cases, orders may not be executed at all. This impact can be more significant, especially for large orders.
6. Deposits and Insurance Funds
You are responsible for ensuring that you use the correct address when making any deposits, withdrawals, or transfers, and that the address used is a valid address accepted by us for depositing the intended digital assets. Using the wrong address may result in the complete loss of the related digital assets.
Any digital assets transferred to your account or between accounts can only be used for margin or withdrawals after being credited to your account. According to our policies and procedures, digital assets will be credited to your account after a certain number of confirmations on the blockchain, but our company reserves the ultimate discretion to credit any digital assets to the account. The time interval between blockchain confirmations and account crediting may vary and is subject to various factors, including factors beyond our control. We do not provide any guarantees or warranties regarding the confirmation time frame for deposits or withdrawals or the deduction of network fees. In some cases, deposits, transfers, or withdrawals may not be confirmed promptly or may be delayed, such as in the following situations: network delays, high transaction volumes or technical issues affecting the network; insufficient network fees to ensure transactions are confirmed as expected (any network fees we may deduct or recommend for withdrawals do not guarantee processing times for any transactions); our system processing times may be affected by factors such as high traffic, technical issues, or other factors affecting processing times; we suspect your involvement in suspicious activities or violations of the terms of service. If a deposit is not credited to your account, and you cannot control the risk of positions or orders, you may be exposed to the risk of losses.
The underlying protocols of digital assets may change or cease to operate due to changes in their underlying technology, attacks, or other reasons. These changes may include but are not limited to "forks," "rollbacks," "airdrops," or "launches." Any such changes or failure to execute applicable protocols may affect the value of digital assets and/or positions, and may even result in complete losses. Unless our company decides otherwise, we will not support these changes or allocate or transfer any balance not credited to your account or transferred to you, as this may result in the complete loss of your assets. In such cases, you have no right to make claims or seek compensation.
7. Support for Trading Contracts
If at any time a contract is delisted or is no longer supported by the trading platform, related orders will be canceled.

B. Regulatory and Supervisory Risks
1. General Regulatory Risk
The regulatory environment for cryptocurrencies and other digital assets is constantly evolving. In general, the application and interpretation of existing laws and regulations are largely untested, and their manner of application remains uncertain. New laws and regulations applicable to blockchain technology, digital assets, and related service providers may be enacted in the future, and there is no guarantee that such changes will not have adverse effects on digital asset derivatives, general digital assets, or related services. The impact of such changes on the prices and liquidity of digital asset derivatives, general digital assets, or related services cannot be predicted.
Regulatory actions can negatively impact cryptocurrencies and other digital assets in various ways, including (for illustrative purposes only) by determining that digital assets or their derivatives, with retroactive or prospective effect, are regulated financial instruments that require registration or licensing in certain jurisdictions. Our company may be required to restrict the availability of certain contracts or prohibit users from trading on the trading platform based on their citizenship, residence, or location, provided that doing so is commercially unsustainable or prohibited by law. Such actions may have a significant impact on the prices and liquidity of contracts.
You understand that, before using the services, it is ultimately your responsibility to ensure compliance with all local regulations, directives, restrictions, and laws in your place of residence. We expressly state that we do not allow users from jurisdictions where the use of the services is prohibited (including, but not limited to, restricted jurisdictions) to use the services. We will not make offers or solicit individuals from restricted jurisdictions or other jurisdictions for the use of the services for specific purposes without the authorization of local law.

C. Network Risks
1. Risks Related to Network Security
Malicious individuals, groups, or organizations may attempt to disrupt the trading platform in various ways, which could negatively impact the operation of the trading platform, the availability of related services, and the value of contracts traded on the trading platform. This includes but is not limited to malicious software attacks, denial of service attacks, coordinated attacks, account takeovers, and the submission of fraudulent transactions (including fraud).
As the use of technology becomes increasingly widespread to fulfill necessary business functions, reliance on computer systems also increases. Digital assets and related services are susceptible to operational and information security risks. In general, network incidents can originate from deliberate attacks or accidental events. Network attacks include, but are not limited to, unauthorized access to digital systems for the purpose of misappropriating assets or sensitive information, data destruction, or causing operational disruptions. Network attacks may also occur without the need for unauthorized access, such as denial of service attacks on infrastructure. Network security failures or vulnerabilities of third-party service providers (including, but not limited to, software providers, cloud service providers, index providers, administrators, and transfer agents) may negatively impact digital assets and related services.
You are responsible for ensuring that (i) your access credentials (including your email, username, and password) are secure and kept confidential, and for accessing or using any two-factor authentication hardware, software, or passwords, and (ii) the security and integrity of any systems (hardware and software) or services you use to access the services.
2. Risks Related to Platform Downtime and IT Maintenance
This platform may periodically or irregularly undergo maintenance. This could result in platform downtime, making it inaccessible, which may lead to delays or cancellations of unprocessed orders and the impracticality of submitting new orders or modifying existing ones during maintenance or downtime.

D. Risks Related to Leveraged Trading
Leverage allows trading a certain contract size with relatively low margin. This means that even slight price fluctuations can result in significant profits if the fluctuations are in your favor. However, if the fluctuations are unfavorable, it can also lead to losses exceeding the allocated margin.
Under certain market conditions, especially considering the high volatility and liquidity risks in the digital asset derivatives market, you may find it difficult or nearly impossible to close positions at prices better than the liquidation price. For example, insufficient market liquidity or technical issues may prevent effective risk management. Placing stop-loss orders or similar types of orders cannot guarantee limiting losses to the expected amount since these order types do not provide any guarantees, and market conditions may prevent the execution of such orders. The use of leverage has both advantages and disadvantages and may result in substantial losses and gains.
You are responsible for all trading risks in your account. This platform is not responsible for any losses or damages incurred due to your use of the trading platform or lack of understanding of the digital asset market. We will not accept any orders that may expose your total risk beyond the risk limits set by you or us.
This company does not assess whether the risk limits you set are appropriate or whether the risk limits set by us are suitable because these risk limits depend on your specific circumstances. You must assess your own risk level. Customizable risk limits are a tool to help you better manage overall risk preferences. For detailed instructions on how to set risk limits, please refer to this webpage.
You must ensure that you can always monitor your account. This company is not responsible for monitoring any orders, positions, or other aspects of your account.

E. Access Risks
Using mobile and/or web-based trading technology comes with a range of inherent risks, including but not limited to the following: price delays, connection issues (including mobile network connections), and more. Prices displayed on the trading platform represent executable prices and may not necessarily reflect the final execution price or the executable price of orders.
The trading platform uses public communication network circuits to transmit information. We are not responsible for any quote delays or trading failures caused by network transmission issues, restrictions, or other issues that we cannot directly control. These issues include but are not limited to mobile signal strength, network latency, and other issues that may arise with internet service providers, phone service providers, or other service providers. Additionally, please note that mobile applications may not support certain features on the trading platform.
The mobile application of this platform may require users to download and install available applications or updates for their device's operating system. Failure to download updates in a timely manner may result in users being unable to access certain parts of the services (including trading functionality) until the updates are successfully downloaded and installed. Using the mobile application of this platform on devices with customized or non-standard operating software, or installing other software on such devices, may result in performance issues and security risks.

BITOY Team

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