Risk Notice
Light Bitcoin is a not backed or value guaranteed by any financial institution; when purchasing Light Bitcoins the customer assumes all risk the Light Bitcoins may become worthless in value. Customers should research and consider the risks before purchasing any Light Bitcoins. The company makes absolutely no guarantee about the future value of the Light Bitcoins purchased. Light Bitcoin "LTBC" is a digital distributed decentralised electronic cash system that aims to become sound global money with fast payments, privacy and larger block size. Light Bitcoin "LTBC" is a distributed, permissionless, decentralized, low gas fee cryptocurrency. Do your own Research and analyze before invest in LTBC
Severability
In the event any court shall declare any section or sections of this Agreement invalid or void, such declaration shall not invalidate the entire Agreement and all other paragraphs of the Agreement shall remain in full force and effect.
Customer input errors
It is the sole responsibility of the customer to check the accuracy of information entered and saved on the website. Account details displayed on the order summary webpage will be the final transfer destination. In the case that this information is incorrect, and funds are transferred to an unintended destination, the company shall not reimburse the customer and shall not transfer additional funds. As such customers must ensure the Light Bitcoin address and bank information they enter is completely correct.
Binding Agreement
The terms and provisions of this Agreement are binding upon Your heirs, successors, assigns, and other representatives. This Agreement may be executed in counterparts, each of which shall be considered to be an original, but both of which constitute the same Agreement.
Expired orders
If the company receives payment for an order that has already expired, the company reserves the right to recalculate the Light Bitcoin to USDT exchange rate at the time of processing the transfer to the customer. This may result in the customer receiving less or more Light Bitcoins than the original ordered amount.
Choice of Law
This Agreement, and its application and interpretation, shall be governed exclusively by the laws of the Dubai, United Arab Emirates, without regard to its conflict of law rules. You consent to the exclusive jurisdiction of the Dubai, United Arab Emirates, federal and state courts located in or near Dubai, United Arab Emirates, for any dispute arising under this Agreement.
Security
We have implemented security measures designed to secure your information from accidental loss and from unauthorized access, use, alteration or disclosure. However, we cannot guarantee that unauthorized persons will never gain access to your information, and you acknowledge that you provide your information at your own risk, except as otherwise provided by applicable law.
Risk Warning Disclosure Statement
Please read the following risk warnings carefully before using the Cryptocurrency Service.
This document provides you with information about the risks associated with using the Cryptocurrency Services and authorizing Cryptocurrency Transactions. The defined terms used in this document are the same as those set out in the Cryptocurrency Service Terms of Use. Due to high volatility may get potential losses; financial researchers and analyser considers investments in cryptoassets to be high risk.
What are the key risks?You could lose all the money you invest:
• The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
• The cryptoasset market is decentralised and largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime, and firm failure.
You should not expect to be protected if something goes wrong: • Cryptocurrency largely decentralised, Govt. or any financial institute or any Financial Services provider doesn’t protect this type of investment because it’s not a ‘specified investment’ under the Govt. regulatory regime – in other words, this type of investment isn’t recognised by any Govt.• The Financial Ombudsman Service will not be able to consider complaints related about that firm.
You may not be able to sell your investment when you want to: • There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
• Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
Cryptoasset investments can be complex:
• Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
• You should do your own research before investing. If something sounds too good to be true, it probably is.
Risks related to stablecoins or asset-backed tokens. When using our Cryptocurrency Service, you may be exposed to (purchase interest in or instruct us to buy) stablecoins or asset-backed tokens, as such may be part of our Supported Cryptocurrencies. Such crypto assets carry additional specific risks: • Issuers of stablecoins and/or asset-backed tokens use stabilisation mechanisms to maintain a constant value relative to an official fiat currency or to another asset, often another reserve asset (underlying asset), an algorithm to match supply and demand or a combination of both. These stabilisation mechanisms depend on the value of the underlying asset, the efficiency of the used algorithms and the transparency and auditability of the respective issuers. • You should not expect to be protected if the value of the stablecoins or the asset-backed tokens is not maintained by their respective issuers. • You may not be able to redeem your stablecoins or asset-backed tokens at par value to their referenced official fiat currency or referenced asset. Don’t put all your eggs in one basket: • Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well. • A good rule of thumb is not to invest more than 10% of your money in high-risk investments. Light Bitcoin Foundation believes that while virtual assets (or “assets”, “tokens”, or “cryptocurrencies”) carry revolutionary potential that will transform our traditional financial system, they also represent a still relatively novel innovation that leverages a rapidly evolving and dynamically changing technology. We believe that the novelty of virtual assets and the broader industry heightens our responsibility to ensure that consumers have access to tokens on our platform that are of high quality, have practical utility, and carry innovative long-term potential. Furthermore, regulators across multiple jurisdictions where Light Bitcoin Foundation is licensed or active have introduced formal requirements for Virtual Asset Service Providers (VASPs) to have well-documented systems, standards and processes for listing and keeping tokens on their platforms, including Dubai’s Virtual Assets Regulatory Authority. To ensure that it not only complies with relevant regulatory requirements but proactively contributes to consumer safety and protection by setting a higher standard for the industry in general, Light Bitcoin Foundation created a firm-wide Token Management Policy. The Virtual Assets Assessment Framework forms a crucial part of the aforementioned policy and Light Bitcoin Foundation’ token management system and processes. Light Bitcoin Foundation (“the Firm” or “Light Bitcoin Foundation”) is a regulated Virtual Asset Service Provider (“VASP”) based in the UAE and having its provisional operating permit from the Dubai Virtual Asset Regulatory Authority (“VARA) to carry the business of Virtual Assets or Broker-Dealer services in relations to virtual assets in and from Dubai. The laws and regulations administered by VARA and the Emirates Securities and Commodities Authority (ESCA) are binding on the Firm. This Risk Warning Disclosure Statement (“RWDS”) is published in accordance with the VARA Market Conduct Rulebook requirement to provide a detailed description of all material risks associated with virtual assets listed and traded on Light Bitcoin Foundation. The RDS applies to all investors registered on Light Bitcoin Foundation including Retail Investors and applies throughout a user’s relationship with Light Bitcoin Foundation. The RDS will be updated on a continuous basis and may be amended, modified or supplemented from time to time. Light Bitcoin Foundation may provide prior written notice of any update, amendment, modified, or supplementation to its users; although users must always be aware of the current version of the RDS (which will at all times, be the version published on the Light Bitcoin Foundation website only) before undertaking any buy, sell, or trade activity on the Light Bitcoin Foundation platform. Notwithstanding Light Bitcoin Foundation’ best efforts and intention, Light Bitcoin Foundation acknowledges that it may not fully identify and address all risks associated with investment in virtual assets under this RDS. General Risk Warning The use of internet or mobile-based systems for investment in virtual assets is susceptible to various risks, including but not limited to the failure of hardware, software and the reliability of the internet connection used to access the Light Bitcoin Foundation platform. Light Bitcoin Foundation’ investment platform and Broker-Dealer Services are intended for and should only be used by individuals and entities that have sufficient experience in and knowledge of virtual assets to be capable of evaluating relevant market data and information and the merits and risks of investment in virtual assets. It is the responsibility of every user, including Retail Investors, to consider whether buying, selling, and/or investment in virtual assets and/or its related products is suitable for them and whether they can afford to risk all of their capital investment. It is the responsibility of every user, including Retail Investors, to consider whether buying, selling, and/or investment in virtual assets and/or its related products is suitable for them and whether they can afford to risk all of their capital investment. There is material risks associated with transacting virtual assets. The use of Light Bitcoin Foundation’ website, investment platform and its Broker-Dealer Services is at the user’s own discretion and risk. Users are solely responsible for any resulting consequences of transacting virtual assets on Light Bitcoin Foundation. Users are advised to consult with their own legal and other professional advisors before committing to any transaction, signing any documents and/or entering into any legally binding arrangement in relation to any transaction in virtual assets or its related products on Light Bitcoin Foundation. Virtual Asset Risk Warning Investment in virtual assets carries a high degree of risk. It is possible for users transacting on Light Bitcoin Foundation to lose their partial capital or entire capital. Virtual assets prices tend to be extremely volatile, unpredictable and susceptible to irrational market forces. Virtual assets may lose their value in part or in whole due to extreme volatility. Virtual assets do not have legal tender status in the UAE and many other jurisdictions. They are not back by the UAE government or the government of many other countries. Virtual assets may not always be transferable and some transfers may be irreversible. Virtual assets have limited or, in some cases, no mechanism for the recovery of lost or stolen virtual assets. Virtual assets are transacted on new technologies such as distributed ledger technologies (“DLT”) and the blockchain and are therefore subject to the following risks: a) Anonymity (difficulty in identifying the sender and/or receiver); b) Inability to reverse accidental transaction. The market for virtual assets may experience periods of decreased liquidity or even periods of illiquidity. The nature of virtual assets may lead to an increased risk of fraud, scams, manipulation, financial crimes, theft including through hacks and other targeted schemes, cybercrimes or attacks which may not benefit from legal protection. Virtual assets may become worthless which may result in a user’s holding of the underlying virtual asset becoming worthless. Underlying protocols of virtual assets may become subject to sudden changes in operating rules (forks) and other events and transformations which may materially affect the value, function, description or characteristics of the virtual asset. The features, functions, characteristics, operations, use and other properties of a virtual asset and its underlying software, networks, protocols, systems and other technology, including any blockchain (if applicable) used to administer, create, issue, transfer, cancel, use or transact in a virtual asset may be complex, technical or difficult to understand or evaluate. Given the nature of virtual assets, any technological difficulties experienced by Light Bitcoin Foundation may prevent the access or use of users’ virtual assets. Changes in laws, regulations, government policies, etc. locally, regionally or internationally may adversely affect the use, transfer, exchange and value of virtual assets. Conflict of Interest Light Bitcoin Foundation does not have any actual or potential conflict of interest with users investment on its platform, including Retail Investors. Light Bitcoin Foundation does not execute transactions on its platform on a proprietary basis and takes no position on orderbooks where users’ transactions are executed. In this way, Light Bitcoin Foundation ensures that it does not hold conflicting positions against any of its users investment on its platform. Do your own research before invest in Light Bitcoin “LTBC”. Light Bitcoin “LTBC” is not a legal tender and is not backed by any government or any political institution or any financial institution or bank. Accounts and value balances are not subject to any government backed deposit insurance or any other government protections.