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Review Zenit World's Risk Disclosure to understand the potential risks associated with cryptocurrency trading and investments.
This General Risk Disclosure (‘Disclosure’) governs how you may use the Zenit Platform (‘Platform’) and its functionalities including but not limited to the website, any of its content to conduct any activities (‘Services’).
This Disclosure applies between Zenit World (‘ZENIT’, ‘we’, ‘our’) and you, the person accessing or using the Services (User, you or your).
Please note that WE DO NOT PROVIDE ANY PERSONAL, FINANCIAL OR INVESTMENT ADVICE and this Risk Disclosure does not explain all of the risks or how such risks relate to your personal circumstances.
- 1.INHERENT RISKS
By accessing or using our platform, you are voluntarily choosing to engage in sophisticated and risky asset transactions. You are further acknowledging that you are aware of the inherent risks associated with using cryptographic and blockchain-based systems including, but not limited to, risks of financial loss, technology glitches and hacking. We work hard to provide extensive systems and security measures. Nonetheless, certain issues and risks are unavoidable, and if such issues or problems arise in connection with your use of our platform, including technical difficulties with depositing or trading virtual assets, it may take days, weeks, or months to resolve, and some issues may not be resolved at all.
- 2.MARKET RISKS
The markets for virtual assets are highly volatile due to factors including but not limited to, adoption, technology, security, and regulation. Virtual asset trading is subject to high market risk and price volatility. Changes in value may be significant and may occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and any returns can go down as well as up, and you may not get back the amount you had invested. Similarly, the cost and speed of transacting with cryptographic and blockchain-based systems are variable and may increase dramatically at any time.
- 3.VIRTUAL ASSETS RISKS
Virtual assets may incur a number of intrinsic risks, and are commonly associated with criminal activities, including, but not limited to; i. distributed denial of service; ii. sybil attacks; iii. phishing; iv. social engineering; v. hacking; vi. smurfing; vii. malware; viii. double spending; ix. majority-mining, consensus-based or other mining attacks; x. misinformation campaigns; xi. forks; and xii. Spoofing. Furthermore, virtual asset risks include cyber risks, such as hacking for ransom payments, layering, etc. Therefore, you may do your own homework and research before you invest what you can afford to lose, and you agree and acknowledge that ZENIT will not be responsible for any of such losses you may face.
The virtual assets may lose some or all of their value while they are supplied and you may suffer loss due to the fluctuation of prices of tokens in a trading pair or liquidity pool, and, especially in expert modes, experience significant price slippage and cost. You shall understand that anyone can create a token, including fake versions of existing tokens and tokens that falsely claim to represent projects, and acknowledge and accept the risk that you may mistakenly trade those or other tokens.
- 4.THIRD PARTY SERVICE PROVIDER RISK
ZENIT may utilize and rely on third party service providers in order to provide the platform and functionalities to you. You acknowledge that our platform may rely on the performance of these thor party service providers, which are not within ZENIT’s control. We are not responsible for any liability, loss or damage caused to you as a result of such third party service providers.
- 5.COPY TRADING RISK
ZENIT will not be responsible for any loss or damages occurring from Copy Trading, by participating in such activities and services, you acknowledge and agree that this is at your own risk, and you will not have control over the outcome of your investments. Whilst you have the discretion to choose your investment amount, you will not have the discretion or control over what the investment amount is used for with regards to trading. The market conditions and other external factors may result in ultimate or partial loss of your invested amount, which both ZENIT and the trader you choose to follow will not be liable for.
Additionally, you acknowledge that the trader you choose to copy is the choice of your own, and ZENIT makes no representations or warranties that such traders are fit for purpose or recommended.
Should you choose to access links indirectly that claim to be ZENIT and are not, you could become subject to being scammed, which we bear no responsibility for. It is your sole responsibility to verify your internet activity and use.
- 6.STAKING RISK
Staking is subject to a lockup period which means you acknowledge and are willing to not have access to your assets for a period of time, should you wish to withdraw your assets before the lockup period you may be subject to a withdrawal fee. There is also an inherent risk that your staked assets may not result in any returns, We do not guarantee the success or viability of any Staking efforts, nor do we assume responsibility for any losses, damages, or liabilities arising from such efforts
- 7.SMART CONTRACT RISK
Smart contracts are subject to attacks, hacking and other vulnerabilities which may impact the operation of ZENIT and your use of the services.
- 8.CURRENCY RISKS
Currency exchange fluctuations may affect your gains and losses in the platform. Rapid price changes may occur any time due to virtual asset markets being open daily. You acknowledge and agree that ZENIT has no control over such fluctuations.
- 9.NO PERSONAL ADVICE
We do not provide any kind of personal advice in relation to our products or services. You acknowledge and agree that any decision to use our products or services on our platform is solely made by you. You further acknowledge and agree that no communication or information provided by us is intended as, or shall be considered or interpreted as, investment advice, financial advice, trading advice, or any other sort of advice. You shall be solely responsible for any investments or transactions you make on our platform.
- 10.NO MONITORING
ZENIT does not act as your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities undertaken by you in our platform. No monitoring is done in order to find out that your use of our services is consistent with your financial goals and objectives. You shall be responsible to assess whether your financial resources are adequate for your financial activity to carry out any transactions or use our services on our platform.
- 11.AVAILABILITY RISK
We do not guarantee that our services will be available at any particular time or that our services will not be subject to unplanned service outages or network congestion. It may not be possible for you to buy, sell, store, transfer, send or receive virtual assets when you wish to do so.
- 12.SECURITY RISK
ZENIT will never under any circumstances ask you for Username, IDs, Passwords, any authentication codes, and we assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of ZENIT and/or failure or act on any Risk Disclosure s or alerts that we may send you. You are responsible for keeping your ZENIT account password safe, and you may be responsible for all the transactions under your ZENIT account whether you authorized them or not.
Further, investing in virtual assets is highly risky and you may consult a qualified professional before making any financial decisions. In addition, you shall be aware that transactions in virtual assets may be irreversible, and losses due to fraudulent or unauthorized transactions may not be recoverable.
- 13.SYSTEMATIC RISK
Emerging market currencies are more exposed to systematic risks. You acknowledge that this may mean your investment amount could be locked up and the trader you may not be able to exit your positions.
- 14.LIQUIDITY RISK
Virtual assets may have limited liquidity due to rapid price movements and which may make it difficult or impossible for you to sell or exit a position when you wish to do so.
- 15.THIRD PARTY RISK
Please note that you may be subject to the terms & conditions of these third parties such as; payment providers, custodians, and/or banking partners. In such circumstances, ZENIT may not be responsible for any loss that incurs by these third parties.
- 16.COMMUNICATION RISKS
You acknowledge and agree that any communication made between you and us via electronic communication method, may fail, can be delayed, may not be secure and/or may not reach the intended destination. In no event shall ZENIT be liable for any inaccuracy, error, delay or omission, failure in performances or interruption of services of any transmission or delivery of information caused directly or indirectly beyond its reasonable control.
- 17.TRANSACTION RISKS
Access to ZENIT services may become degraded or unavailable during times of significant volatility or volume. This could result in the inability to buy or sell for periods of time and may also lead to support response time delays. ZENIT shall not be liable for any losses resulting from or arising out of transaction delays. Transactions in virtual assets being irreversible. Consequently, losses due to fraudulent or accidental transactions may not be recoverable;
- 18.FEES & CHARGES
ZENIT reserves the right to adjust its pricing, fees & charges from time to time. Please be aware of all costs and charges that apply in order to avoid unnecessary losses.
- 19.NO TAX, REGULATORY OR LEGAL ADVICE
The taxation of virtual assets transactions is uncertain, and you shall be responsible to comply with the tax laws and regulations. In certain jurisdictions profits in virtual assets trading are taxable as capital gains, therefore, you shall be responsible in regard to tax pronouncements and you are encouraged to seek any independent legal advice and/or professional and personal tax advice. In certain circumstances, ZENIT shall withhold taxes applicable to your transaction or payments made or deemed made to you to the extent such withholding is required by applicable law.
- 20.MARKET MANIPULATING RISK
You acknowledge and agree that you shall not take, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in any market manipulation including pump and dumps scheme, front-running, wash trading, spoofing and layering, stop hunting, churning, quote stuffing, false trading, insider dealing, price rigging, any deceptive activity and etc,. In any circumstances if ZENIT identifies and/or suspects that you have engaged in Crypto market manipulation including pump and dumps scheme, front-running, wash trading, spoofing and layering, stop hunting, churning, quote stuffing, false trading, insider dealing, price rigging, any deceptive activity and etc, the ZENIT reserves the sole discretion to freeze, suspend and/terminate your transactions/account in the ZENIT platform. In the event that you get to know or have reason to believe that you have engaged with above mentioned activities, you must immediately contact ZENIT.
- 21.MONEY LAUNDERING RISK
You acknowledge and agree that you shall not directly or indirectly involve yourself in activities such as money laundering, terrorist financing, child abuse and/or being a sanctioned person or an entity. In any circumstances, if we reasonably identify or suspect that you are involved and dealing with money laundering, terrorist financing, child abuse, and/or; we reasonably identity or suspect that you are a sanctioned individual or entity, we shall suspend, freeze, restrict, cancel, deactivate and/or terminate your ZENIT account on sole discretion.
- 22.LEGAL RISK
You acknowledge and agree that certain regulation of virtual assets in some jurisdictions remains in an unsettled state and the nature of virtual assets may lead to an increased risk of cyber-attack or fraud. You are aware that the changes in the virtual assets laws and regulations are unforeseeable and it may materially affect the value of the virtual asset you hold in our platform.