CRYPTOCURRENCY DISCLAIMER
CRYPTOCURRENCY DISCLAIMER
Please consider the following risk factors (many of which are specific and inherent to cryptographic tokens) before using any part of our website/platform and before purchasing and/or trading Property Central (PROP) cryptographic tokens or any other cryptographic token which we (or any third-party service provider accessed through our platform) may offer through our website/platform from time to time (“ tokens”). The value of the tokens as well as your ability to access and transfer the tokens could be materially and adversely affected if any of these risk factors materialise. As a result, when you purchase tokens you expose yourself to considerable risk and potential financial losses.
Please also note that this Risk Statement is not exhaustive. You should carry out further research (and seek professional advice) to carefully determine whether purchasing and/or trading tokens is suitable for your particular financial situation and risk tolerance.
We shall not be liable for any loss incurred by you resulting from your access to our platform or the purchase, transfer or use of tokens. Tokens are high-risk assets and you should never use funds to purchase tokens that you cannot afford to lose.
By purchasing, owning, and using PROP, you expressly acknowledge and assume the following risks:
1. Price Volatility
The price of tokens can be subject to dramatic fluctuations and high volatility due to the rapid shifts in offer and demand resulting from events such as but not limited to: (a) good or bad publicity, (b) changes in the financial technology industry, (c) technological advancement, (d) market trends, (e) general economic and/or political conditions, (f) degree of adoption, (g) degree of institutional support, (h) regulatory measures, (i) degree of government support, (l) market dynamics, (m) trading activities, (n) hacking, and (o) events affecting large service providers, including exchanges.
As a result of price volatility, your tokens may lose all value and become worthless. We shall not be responsible for any loss incurred by you as a result of the inherent price-volatility of tokens.
2. Risk of Losing Access to PROP Due to Loss of Private Key(s), Custodial Error or Purchaser Error
A private key, or a combination of private keys, is necessary to control and dispose of PROP stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing PROP will result in loss of such PROP. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate your PROP. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store PROP in, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your PROP. Additionally, your failure to follow precisely the procedures set forth in for buying and receiving Tokens, including, for instance, if you provide the wrong address for the receiving PROP, or provides an address that is not BEP20 compatible, may result in the loss of your Tokens.
3. Risks Associated with the Binance Smart Chain Protocol
Because PROP and the PROP platform are based on the Binance Smart Chain protocol, any malfunction, breakdown or abandonment of the Binance Smart Chain protocol may have a material adverse effect on the platform or PROP. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the PROP and the platform, including the utility of the PROP for obtaining services, by rendering ineffective the cryptographic consensus mechanism that underpins the Binance Smart Chain protocol.
4. Risk of Hacking and Security Weaknesses
Hackers or other malicious groups or organizations may attempt to interfere with the platform or PROP in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing. Furthermore, because the platform is based on open-source software, there is a risk that a third party or a member of the Company team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the platform, which could negatively affect the platform and PROP, including the utility of PROP for obtaining services.
5. Risks Associated with Markets for PROP
If secondary trading of Tokens is facilitated by third-party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to fraud or manipulation. Furthermore, to the extent that third-parties do ascribe an external exchange value to PROP (e.g., as denominated in a digital or fiat currency), such value may be extremely volatile.
6. Risk of Uninsured Losses
Unlike bank accounts or accounts at some other financial institutions, PROP are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by Company, to offer recourse to you.
7. Risks Associated with Uncertain Regulations and Enforcement Actions
The regulatory status of PROP and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to such technology and its applications. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications, including the platform and PROP. Regulatory actions could negatively impact the platform and PROP in various ways, including, for purposes of illustration only, through a determination that the purchase, sale and delivery of PROP constitute unlawful activity or that PROP is a regulated instrument that requires registration or licensing of those instruments or some or all of the parties involved in the purchase, sale and delivery thereof. The Company may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
8. Risks Arising from Taxation
The tax characterization of PROP is uncertain. You must seek your own tax advice in connection with purchasing PROP, which may result in adverse tax consequences to you, including withholding taxes, income taxes and tax reporting requirements.
9. Risk of Competing platforms
It is possible that alternative platforms could be established that utilize the same open-source code and protocol underlying the platform and attempt to facilitate services that are materially similar to the PROP services.
10. Risks Arising from Lack of Governance Rights
Because PROP confers no governance rights of any kind with respect to the PROP platform or the Company, all decisions involving the Company’s products or services within the platform or the Company itself will be made by the Company at its sole discretion. These decisions could adversely affect the platform and the utility of any PROP you own, including their utility for obtaining services.
11. Unanticipated Risks
Cryptographic tokens such as PROP are new and untested technology. In addition to the risks included above, there are other risks associated with your purchase, possession and use of PROP, including unanticipated risks. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in these terms.
THIS RISK STATEMENT IS NOT EXHAUSTIVE AND SHALL NOT BE TAKEN TO ENCOMPASS ALL RISKS INVOLVED IN THE PURCHASE, HOLDING, TRADING AND USE OF TOKENS. WE SHALL NOT BE RESPONSIBLE OR LIABLE FOR ANY LOSS SUFFERED BY YOU AS A RESULT OF UNANTICIPATED RISKS.
For further information regarding the PROP sale, please contact info@propertycentral.com