This document does not disclose all possible risks. Users should carefully assess their own financial circumstances, investment objectives, risk tolerance, and seek independent professional advice before using any Service offered by Sole Technologies.
By using our Services, you acknowledge that you understand and accept the risks described herein.
1. GENERAL RISK WARNING
Crypto-assets, digital assets, payment services, and blockchain technologies involve significant risks.
You should not engage in transactions unless you fully understand the nature of the transaction and the extent of your potential exposure to loss.
You may lose some or all of the value of your assets.
Past performance does not guarantee future results.
2. MARKET RISK
The value of crypto-assets may fluctuate significantly over short periods of time.
Prices may rise or fall rapidly due to:
Market sentiment;
Liquidity conditions;
Regulatory announcements;
Technological developments;
Macroeconomic events;
Market manipulation;
Geopolitical events.
Users may experience substantial losses.
3. VOLATILITY RISK
Crypto-assets are highly volatile.
Price movements may exceed those typically experienced in traditional financial markets.
Extreme volatility may result in:
Significant gains;
Significant losses;
Liquidations;
Execution delays;
Inability to exit positions.
4. LIQUIDITY RISK
Certain crypto-assets may have limited liquidity.
Insufficient liquidity may result in:
Difficulty buying or selling assets;
Significant price slippage;
Inability to execute transactions;
Increased spreads.
Under stressed market conditions, liquidity may disappear entirely.
5. REGULATORY RISK
The regulatory treatment of crypto-assets remains subject to change.
Future legislative, regulatory, judicial, or governmental actions may:
Restrict services;
Prohibit activities;
Impose additional compliance obligations;
Affect asset value;
Impact market access.
Changes in laws or regulations may adversely affect your ability to use the Services.
6. TECHNOLOGY RISK
Blockchain technology is evolving and may contain vulnerabilities.
Risks include:
Software defects;
Coding errors;
Protocol failures;
Smart contract vulnerabilities;
Forks;
Network instability.
Technological failures may lead to:
Loss of access;
Delays;
Asset loss;
Unexpected outcomes.
7. CYBERSECURITY RISK
Digital assets and payment systems are exposed to cybersecurity risks.
Examples include:
Hacking;
Malware;
Phishing attacks;
Credential theft;
Insider threats;
Denial-of-service attacks.
Despite security measures, no system can be considered completely secure.
Cyber incidents may result in loss of assets or personal information.
8. PRIVATE KEY RISK
Control of crypto-assets depends upon secure management of cryptographic credentials.
Loss, theft, compromise, or unauthorized disclosure of:
Private keys;
Seed phrases;
Authentication credentials;
may result in permanent loss of assets.
Users are solely responsible for protecting their credentials.
9. IRREVERSIBILITY OF TRANSACTIONS
Blockchain transactions are generally irreversible.
Once a transaction has been confirmed on a blockchain network:
It may not be reversed;
It may not be cancelled;
Assets may not be recoverable.
Incorrect wallet addresses may result in permanent loss.
10. THIRD-PARTY RISK
Sole Technologies may utilize third-party providers including:
Banks;
Custodians;
Payment processors;
Liquidity providers;
Technology vendors;
Identity verification providers.
The failure or insolvency of third parties may adversely affect Services.
Sole Technologies cannot guarantee the performance of third-party providers.
11. CUSTODY RISK
Where custody services are offered, customer assets may be exposed to:
Operational failures;
Cybersecurity incidents;
Human error;
Third-party failures.
While Sole Technologies implements safeguarding procedures, loss cannot be entirely eliminated.
12. COUNTERPARTY RISK
Transactions involving counterparties may expose users to:
Default risk;
Insolvency risk;
Settlement risk;
Fraud risk.
Counterparties may fail to fulfill obligations.
13. PAYMENT SERVICES RISK
Payment transactions may be delayed, rejected, reversed, or blocked due to:
Compliance reviews;
Banking restrictions;
Sanctions screening;
Fraud prevention measures;
Technical failures.
Settlement times are estimates only and are not guaranteed.
14. OPERATIONAL RISK
Operational risks include:
Human error;
Internal process failures;
System outages;
Business disruptions;
Communication failures.
Such events may negatively affect service availability.
15. FORCE MAJEURE RISK
Extraordinary events beyond Sole Technologies' control may impact Services.
Examples include:
Natural disasters;
War;
Civil unrest;
Pandemics;
Government actions;
Utility failures;
Internet disruptions.
Services may become unavailable during such events.
16. SANCTIONS AND COMPLIANCE RISK
Transactions and customer relationships are subject to ongoing compliance reviews.
Assets or transactions may be:
Delayed;
Suspended;
Rejected;
Frozen;
where required by applicable laws or internal policies.
Sole Technologies may be legally prohibited from providing further information in certain cases.
17. TAX RISK
Users are solely responsible for:
Understanding tax consequences;
Maintaining records;
Filing tax returns;
Paying taxes.
Tax treatment of crypto-assets varies between jurisdictions and may change.
Independent tax advice should be obtained where appropriate.
18. LEGAL RISK
The legal characterization of crypto-assets may differ between jurisdictions.
Users may be subject to:
Additional licensing requirements;
Restrictions;
Reporting obligations.
You are responsible for ensuring compliance with local laws.
19. BUSINESS CONTINUITY RISK
Although Sole Technologies maintains business continuity arrangements, uninterrupted access cannot be guaranteed.
Temporary disruptions may occur.
20. NO GUARANTEE OF PROFITS
Sole Technologies does not guarantee:
Profitability;
Asset appreciation;
Positive investment outcomes.
All investment and transaction decisions remain solely the responsibility of the user.
21. ACKNOWLEDGEMENT OF RISKS
By using the Services, you acknowledge that:
You have carefully read this Risk Disclosure;
You understand the risks involved;
You accept these risks voluntarily;
You are capable of bearing potential losses.
22. CONTACT
For questions relating to this Risk Disclosure, please contact:
Sole Technologies Ltd.
Email: [email protected]
Website: https://www.sole-pay.com
Address:
25 Angel Kanchev Street, Sofia 1000, Republic of Bulgaria