For purposes of this Risk Disclosure, “us,” “we,” “our,” “Bithoven” or “Bithoven.com” refer to the website https://bithoven.com/ and related services. Risk Disclosure should be read in conjunction with Terms of Use provided at https://bithoven.com/terms_of_use. By using Bithoven.com, its products or services, you fully understand and agree to legally comply with this Risk Disclosure.

1. Statement

Cryptocurrency trading and investing in cryptocurrencies involve substantial risk of loss and is not suitable for all types of traders. Any change of exchange rate while using leverage may bring significant profit as well as losses. Margin trading is highly speculative and is only suitable for customers who understand and are willing to assume all economic, legal and/or other risks involved. You should carefully consider whether marginal trading is appropriate for you in light of your experience, objectives, financial resources and other relevant circumstances. Opening a trading account in order to speculate or assume risk of any sort on Bithoven.com through the Over‐the‐Counter (OTC) trading market provided by Digital Value Trading OÜ (hereinafter “Digital Value Trading”) means assumptions of the risks described below.

2. Leverage Risk

Should you decide to engage in using leverage, you understand that leverage will result in proportionately greater either gains or losses. You understand and acknowledge the real possibility that you can lose all your cryptocurrencies and be required to deposit additional funds to maintain or close your position. Before deciding to trade any leveraged products, you should carefully consider your investment objectives, trading experience and risk appetite. You are solely responsible for all your risks, financial resources that you use and for the chosen trading strategy. Finally, you are responsible for all the losses suffered in your account.

3. Volatility Risk

You acknowledge that market regulations and/or a significant imbalance of supply and demand, or a lack of liquidity, may result in the temporary inability to process the orders. This may result in you holding positions for longer than desired or having to liquidate due to insufficient margin, which may result in losses up to or in excess of deposits. You are solely responsible for monitoring your positions and are financially responsible for any losses generated by open positions.

4. Technical Risks

The operational system risks in online trading systems apply to every trade placed. These include disruptions to communications, IT systems, software or hardware errors or other events that delay, interrupt or otherwise effect our systems operation. Bithoven.com shall not be liable for any claims, losses, damages, costs or expenses caused, directly or indirectly, by any malfunction or failure of any transmission, communication system, computer facility or trading software, whether belonging to you or Bithoven.com. For the avoidance of doubt, you are aware that Bithoven.com may not be reachable by phone at all times and thus you can place your orders through online access to the trading platform. You are entirely responsible for any technical issues sustained on your side, namely failure of your hardware, software or internet connection, improper operation of your equipment or incorrect configuration settings.

5. Market Risks

You acknowledge that under abnormal cryptocurrency market conditions, Bithoven.com may be unable to execute your instructions and therefore the processing period during which your instructions and requests are executed may be extended.

6. Legal Risks

None of the trading services referred to on Bithoven.com are available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. You are responsible for knowing, understanding and confirming the legal status, inclusive of regulation and taxation, of investing in cryptocurrencies in your country at all times.

7. Communication

Bithoven.com bears no responsibility for any loss that arises as a result of:

  • Delayed or unreceived communication sent to you by Bithoven.com;
  • Any loss that arises as a result of encrypted information sent to you by Bithoven.com, that has been accessed via unauthorized means;
  • Any unreceived or unread internal messages sent to you through the trading platform;
  • Any loss as a result of authorized/unauthorized access to all information between Bithoven.com and you by third parties.

8. Accuracy of Information

The content on Bithoven.com is subject to change at any time without prior notice and is provided for the sole purpose of assisting cryptocurrency traders to make independent investment decisions. Bithoven.com has taken all reasonable measures to ensure the accuracy of the information available on the website, however, does not guarantee its accuracy and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website.

9. Fees

Before you start trading on Bithoven.com, you should obtain a clear explanation of all commissions, fees and/or other charges for which you will be liable. These charges will affect your net profit or increase your loss. All charged fees are available at https://bithoven.com/fees.

10. Force Majeure Event

Bithoven.com is not responsible for your losses sustained due to Force Majeure such as: acts of war, terrorist attacks, natural disasters, financial market trading stops, currency interventions, government decisions, instability on financial markets with rapid drops of liquidity and/or other significant changes of counteragents working process. In case of Force Majeure, you shall accept the risk of financial losses.

YOU HEREBY CONFIRM THAT YOU ARE INFORMED OF THE RISKS ASSOCIATED WITH TRADING ON BITHOVEN.COM ON LEVERAGED BASIS AND HAVE EXPRESSLY ACCEPTED THESE RISKS. YOU FURTHER CONFIRM THAT YOU SHALL REVIEW THE BITHOVEN.COM RISK DISCLOSURE STATEMENT EACH TIME IT IS AMENDED. YOU AGREE THAT IN EFFECTING ANY OPENING TRANSACTION IT IS DEEMED AND IMPLIED THAT YOU HAVE READ, UNDERSTOOD AND ACCEPTED BITHOVEN.COM REVISED RISK DISCLOSURE STATEMENT AS IN EFFECT AT THE TIME OF SUCH OPENING TRANSACTION.

THIS RISK DISCLOSURE STATEMENT CANNOT AND DOES NOT DISCLOSE ALL RISKS AND OTHER ASPECTS INVOLVED IN HOLDING, TRADING, OR ENGAGING IN FINANCING OR FINANCED TRANSACTIONS IN CRYPTOCURRENCIES. YOU UNDERSTAND AND ACKNOWLEDGE THE REAL POSSIBILITY THAT YOU COULD LOSE ALL YOUR INVESTED FUNDS AND BE REQUIRED TO DEPOSIT ADDITIONAL FUNDS TO MAINTAIN OR CLOSE YOUR POSITION. YOUR MARGIN POSITION CAN BE LIQUIDATED AT ANY TIME IF YOU DO NOT MAINTAIN THE REQUIREMENTS OF THAT MARGIN, AND YOU WOULD BE LIABLE FOR THE LOSSES.

YOU HAVE READ, UNDERSTOOD AND AGREE TO THE RISK DISCLOSURE STATEMENT AND THE TRADING POLICIES AND PROCEDURES SET OUT ABOVE.