A. BiKing Service
This notice provides you with information about the risks related to BiKing services. Each BiKing service has its own unique risks. This notice provides a general description of the risks when you use the BiKing service.
This notice does not explain all risks or how such risks relate to your individual circumstances. Before deciding to use our services, please be sure to fully understand the risks involved.
B. No personal advice
We do not provide personal advice regarding our products or services. From time to time we provide factual information, information about trading procedures and information about potential risks. However, any decision to use our products or services is yours. Any communication or information provided to you by BiKing should not be considered or construed as investment advice, financial advice, trading advice or any other type of advice. You are solely responsible for determining whether any investment, investment strategy or related transaction is suitable for you based on your personal investment objectives, financial situation and risk tolerance.
C. No monitoring
BiKing is not your broker, intermediary, agent or consultant, and BiKing does not have any fiduciary relationship or obligation with you regarding any transactions or other decisions or activities you conduct using the BiKing service. We will not monitor whether your use of the BiKing Services meets your financial goals. You should make your own assessment as to whether your financial resources are sufficient to meet your financial activities with us and your risk appetite for the products and services you use.
D. No Tax, Regulatory, or Legal Advice Provided
Taxes on digital assets are uncertain, and it is your responsibility to determine what taxes you may be required to pay when conducting transactions through the BiKing Service and how they apply. You are responsible for reporting and paying any taxes that may arise from transactions on the BiKing Service, and you acknowledge that BiKing does not provide legal or tax advice related to these transactions. If you have any questions about your tax status or obligations when using the BiKing service, or have any questions about the digital assets held in your BiKing account, you may wish to seek independent advice.
You acknowledge that BiKing shall report information about your transactions, transfers, distributions or payments to tax or other public authorities when and where required by applicable law. Likewise, BiKing shall withhold taxes related to your transactions, transfers, distributions or payments when and where required by applicable law. Applicable legislation may also cause BiKing to require you to provide additional tax information, status, certificates or documents. You acknowledge that failure to respond to these requests within the prescribed time may result in BiKing withholding withholding taxes and remitting them to the tax authorities required by relevant law. We encourage you to seek professional and personal tax advice regarding the above before engaging in any digital asset transactions.
E. Market risk
Digital asset trading faces higher market risks and price fluctuations. Changes in value can be material and can occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of investments and any returns can fall as well as rise and you may not get back the amount invested.
F. Liquidity risk
Digital assets may have limited liquidity, which may make it difficult or impossible for you to sell or exit your position if you wish to do so. This can happen at any time, including when prices move rapidly.
G. Fees and Charges
Our fees and charges are listed here. BiKing may update fees and charges from time to time at its sole discretion. Please be aware of all costs and fees that apply to you, as such costs and fees will affect the benefits you receive from using the BiKing Services.
H. Availability risk
We do not guarantee that the BiKing Service will be available at any particular time, or that the BiKing Service will not experience unexpected service interruptions or network congestion. You may not be able to buy, sell, store, transfer, send or receive digital assets when you wish.
Legal requirements in various countries may limit the products and services that BiKing can legally provide. Therefore, certain products and services and/or certain features within the Platform may not be available or restricted in certain jurisdictions or regions or to certain users, and any BiKing activities, user contests or other promotions will not be available. To (and not directed to or intended for) users to whom the restrictions apply. Users are responsible for informing themselves of and complying with any restrictions and/or requirements imposed on access to and use of the Platform and BiKing Services by or on behalf of Users in each jurisdiction from which they access the Platform and BiKing Services. user. BiKing reserves the right to make changes.
I. Third Party Risk
Third parties such as payment providers, custodians and banking partners may be involved in the provision of BiKing services. You may be subject to the terms and conditions of these third parties, and BiKing may not be responsible for any losses that these third parties may cause you.
J. Security risks
BiKing cannot eliminate all security risks. You are responsible for ensuring the security of your Binwang account password, and you may be responsible for all transactions under your Binwang account, whether or not you authorize these transactions. Digital asset transactions may be irreversible, and losses due to fraud or unauthorized transactions may be irreversible.
K. Risks Related to Digital Assets
Given the nature of digital assets and their underlying technology, there are many inherent risks, including but not limited to:
Failures, defects, hacks, exploits, errors, protocol failures or unforeseen circumstances of digital assets or the technical or economic systems on which digital assets rely;
Digital asset transactions are irreversible. Accordingly, losses due to fraudulent or accidental transactions may be irrecoverable;
Technological developments render digital assets obsolete;
The delay caused the transaction to fail to settle on the scheduled settlement date; and
Attacks on protocols or technologies on which digital assets rely, including but not limited to: i. Distributed denial of service; 2. Witch attack; 3. Phishing; 4. Social engineering; v. Hacker attacks; 6. Smurfs; 7. Malware; 8. Double spending; IX. Majority mining, consensus-based or other mining attacks; X. misinformation campaigns; xi. forks; and xii. cheat.
L. Monitoring risks
The digital asset market is open 24 hours a day, 7 days a week. Prices may change rapidly at any time, including outside normal business hours.
M. Communicate Risks
When you communicate with us via electronic communications, you should be aware that electronic communications may fail, may be delayed, may not be secure and/or may not reach their intended destination.
Currency exchange fluctuations can affect your gains and losses.
O. Legal risks
Changes in laws and regulations may have a significant impact on the value of digital assets. This risk is unpredictable and may vary by market.