Last updated: 16.10.2024
1. General Provisions
Buycoin Sp. z o.o. provides services for the purchase and sale of cryptocurrency for fiat funds, as well as the exchange of one cryptocurrency for another (hereinafter referred to as “Services”). The use of Buycoin Sp. z o.o. services (hereinafter referred to as “Buycoin”) is carried out solely at your own risk. We remind you that investing and trading in cryptocurrencies involve a high level of risk. The value of crypto assets can change rapidly, and the client may incur significant financial losses. Before using our Services, please carefully assess your financial situation and the level of risk you are willing to accept. Buycoin does not control the volatility of the cryptocurrency market, and all decisions to buy or sell crypto assets are made by you independently after thorough analysis and risk assessment.
2. Disclaimer of Liability for Sent Crypto Assets and Transactions
After sending crypto assets to the details specified by you in the application, the responsibility for the further legal fate of these assets lies entirely with you. Buycoin is not responsible for:
- Incorrectly specified details for sending;
- Loss of access to the wallet or means of managing crypto assets after their sending;
- Losses arising from the use of fraudulent or risky services, such as scam projects, trading platforms, forex, or gambling sites;
- Use of third-party services that may be fraudulent, unreliable, or under sanctions;
- Losses caused by sending crypto assets to third parties, carried out by the user’s decision. The Buycoin service prohibits sending crypto assets to third parties and is not responsible for the consequences of such actions.
The client confirms that they are aware of the risks associated with using such services and assumes full responsibility for the consequences of their actions. Buycoin does not verify the reliability of third-party services and is not responsible for the consequences of your decisions to use cryptocurrency after its receipt.
3. Risks Associated with the Use of Digital Assets
The client acknowledges the following risks associated with the use of crypto assets, electronic money, or other digital assets:
- High Level of Volatility: The price and liquidity of cryptocurrencies and other digital assets are subject to significant fluctuations and can change rapidly. This can lead to financial losses, especially if assets are bought or sold over a short period.
- Lack of Protection: In most countries, digital assets like cryptocurrencies are not legal tender, are not backed by any state, and are not covered by insurance schemes or investor protection programs. In case of asset loss (e.g., due to hacker attacks), Buycoin will not be able to return these funds. Some exceptions may exist in certain jurisdictions; however, overall risks remain high.
- Legislative Changes: Legislative changes at the national, regional, or international levels can negatively affect the use and value of crypto assets. Buycoin is not responsible for the impact of such changes on your investments.
- Irreversibility of Transactions: Operations with cryptocurrencies are irreversible, so losses associated with fraud or accidental transactions are not subject to reimbursement.
- Risk of Loss of Value: The value of crypto assets may be completely lost if the market for these assets disappears, which can lead to a total loss of investments.
- Technical Risks: In case of failures or technical problems that prevent access to your wallet, Buycoin is not responsible for possible losses.
- Hacking and Theft: Your cryptocurrency assets may be stolen or lost due to hacking or information security breaches.
4. Client’s Rights and Responsibilities
By using the Website and Services of Buycoin or companies affiliated with Buycoin, the client confirms that:
- The client fully understands all the risks associated with cryptocurrencies and digital assets, including the risk of complete loss of investments or delays in receiving profits.
- The client waives any claims against Buycoin in case of loss of funds, including due to the decision to use third-party services or payment platforms.
- Buycoin is not responsible for the consequences of the client’s use of the Services, including all possible risks and losses associated with operations for sending, exchanging, or receiving cryptocurrencies.
- The client agrees to comply with all applicable laws and regulations, including the tax legislation of their country of residence.
5. Limitation of Liability
Buycoin is not responsible for any damages, losses, or expenses that arise in connection with:
- The fulfillment or non-fulfillment of our obligations to provide services due to technical problems or other obstacles beyond our control;
- Delays or interruptions in the operation of the network through which operations with crypto assets are carried out;
- Fraudulent or other illegal actions of third parties.
The client agrees that Buycoin is not responsible for any losses caused as a result of the use of cryptocurrency after sending to the details specified by the client, as well as as a result of using unreliable or fraudulent services.
6. Policy Updates
Buycoin reserves the right to make changes to this Risk Warning at any time. Changes take effect from the moment they are published on the Website. Clients are obliged to periodically review this Policy to familiarize themselves with the current version.
7. Acceptance of Terms
By using the Buycoin’s Website and Services, the client confirms that he/she has read this Risk Warning, understands, and agrees with its terms. In case of disagreement with any points of this Warning, the client is prohibited from using Buycoin’s Services.
8. Applicable Law and Jurisdiction
This Risk Warning is governed and interpreted under the laws of Poland. Any disputes arising in connection with the use of our Services are subject to the exclusive jurisdiction of the courts of Poland.