As with any asset, the value of Digital Assets can increase or decrease and there is a substantial risk that you will lose money buying, selling, holding, or investing in cryptocurrencies. You should carefully consider whether trading or holding Digital Assets is suitable for you in light of your financial condition. Oodlebit is not registered with the U.S. Securities and Exchange Commission and does not offer securities services in the United States or to U.S. persons.
BY USING OR ACCESSING THE SITE OR ANY OODLEBIT SERVICES YOU ARE CHOOSING TO ENGAGE IN COMPLICATED FINANCIAL TRANSACTIONS THAT ARE EXTREMELY RISKY AND COULD RESULT IN FINANCIAL LOSS. YOU ACKNOWLEDGE THAT YOU ARE AWARE OF THE RISKS OF ENGAGING IN OR PERFORMING CRYTPOCURRENCY TRANSACTIONS USING THE SITE AND THE SERVICES, INCLUDING BUT NOT LIMITED TO THE FOLLOWING RISKS:
6.1. LEGAL RISKS - THE LEGALITY OF TRADING, HOLDING, BUYING, AND SELLING DIGITAL ASSETS MAY BE AMBIGUOUS, COMPLICATED AND IS ALWAYS SUBJECT TO CHANGE. USERS ARE RESPONSIBLE FOR UNDERSTANDING AND KNOWING HOW THEIR USE OF THE SITE AND THEIR TRANSACTIONS INVOLVING DIGITAL ASSETS WILL BE REGULATED, ADDRESSED, AND TAXED UNDER APPLICABLE LAW.
6.2. MARKET RISKS - DIGITAL ASSET MARKETS ARE STILL VERY NEW AND MOSTLY UNREGULATED. WHETHER A DIGITAL ASSET INCREASES OR DECREASES IN VALUE, OR LOSE ALL OF ITS VALUE, IS SPECULATIVE AND UNPREDICTABLE AND UNKNOWN TO OODLEBIT. USERS SHOULD BE PREPARED TO LOSE ALL OF THEIR INVESTMENT, AND YOU SHOULD NEVER INVEST IN DIGITAL ASSETS IF YOU CAN NOT AFFORD TO LOSE YOUR ENTIRE INVESTMENT.
6.3. HACKING, TECHNICAL DIFFICULTIES, BREACHES - ALTHOUGH OODLEBIT TRIES TO PROVIDE THE COMMERCIALLY REASONABLE SECURITY AND UP-TO-DATE SOFTWARE, USING A THIRD-PARTY SERVICE SUCH AS OODLEBIT WILL ALWAYS CARRY UNAVOIDABLE RISKS, WHICH MAY RESULT IN FINANCIAL LOSS, INCLUDING POTENTIALLY THE COMPLETE LOSS OF ALL YOUR DIGITAL ASSET HOLDINGS DUE HACKING, CONTRACTUAL BREACH, OR TECHNICAL DIFFICULTIES, AMONG OTHER REASONS. ALTHOUGH OODLEBIT WILL ALWAYS TRY TO RESOLVE SUCH ISSUES FOR USERS, WE CAN NOT AND DO NOT PROMISE OR GUARANTEE ANY SPECIFIC OUTCOME, THAT WE WILL BE ABLE TO RECOVER LOST FUNDS OR THAT WE WILL BE ABLE TO RESOLVE SUCH A SITUATION TO YOUR SATISFACTION, IF AT ALL. PARTICIPANTS SHOULD BE WARY OF PERMITTING THIRD-PARTY SERVICES SUCH AS OODLEBIT TO HOLD THEIR DIGITAL ASSETS.
6.4. MARKET LIQUIDITY – LIQUIDITY MAY VARY WIDELY AMONG DIGITAL ASSET MARKETS AND ON DIFFERENT DAYS. LIQUIDITY IN DIGITAL ASSETS IS A FUNCTION OF MANY VARIABLES AND MARKETS MAY BECOME WHOLLY OR PARTIALLY ILLIQUID RAPIDLY AND WITHOUT PRIOR NOTICE. CONSEQUENTLY, IN SOME MARKETS DIGITAL ASSETS ARE EASIER TO BUY, SELL, AND TRADE THAN OTHERS. OODLEBIT DOES NOT GUARANTEE THAT USERS MAY BUY, SELL, TRADE, OR PERFORM ACTIONS IN THE SUPPORTED DIGITAL ASSET MARKETS AVAILABLE ON THE SITE. DUE TO THE RAPIDLY CHANGING NATURE OF DIGITAL ASSETS, MARKETS MAY APPEAR OR DISAPPEAR WITHOUT PRIOR NOTICE. OODLEBIT MAKES NO WARRANTIES, GUARANTEES, OR REPRESENTATIONS THAT A DIGITAL ASSET MAY BE BOUGHT, SOLD OR TRADED ON ITS PLATFORM IN THE FUTURE. ANY AND ALL DIGITAL ASSETS ARE SUBJECT TO DELISTING ON THE OODLEBIT EXCHANGE WITHOUT NOTICE, AND OODLEBIT MAY SUSPEND SUPPORT OF TRADING, DEPOSITS, WITHDRAWALS, STORAGE, TRANSFER, AND OTHER FUNCTIONALITIES OF ANY DIGITAL ASSET AT ANY TIME WITHOUT NOTICE.
6.5. ATTACKS - CERTAIN DIGITAL ASSETS AND THEIR TECHNOLOGIES MAY BE VULNERABLE TO ATTACKS ON THE INTEGRITY, SOFTWARE, NETWORKS, PROTOCOLS, SYSTEMS, BLOCKCHAIN, OPERATIONS, AND OTHER TECHNOLOGIES, INCLUDING BUT NOT LIMITED TO USING RESOURCES TO OVERWHELM A DIGITAL ASSET’S TECHNOLOGY TO CEASE ITS OPERATION, CHANGE ITS UNDERLYING PROPERTIES, OR FORK OR ROLL BACK THE BLOCKCHAIN LEDGER, WHICH COULD RESULT IN A PARTIAL OR TOTAL LOSS OF YOUR DIGITAL ASSET AND OR ACCOUNT VALUE.
6.6. FORKS, SPLITS, AND TOKENS - OODLEBIT RESERVES THE RIGHT TO NOT SUPPORT FORKS, CHAIN SPLITS, TOKENS, AND OTHER RELATED SIDE CHAINS THAT MIGHT RESULT FROM AN UNINTENTIONAL, OR INTENTIONAL ENHANCEMENT, FORK, OR DERIVATIVE EVEN IF ITS FROM A DIGITAL ASSET THAT OODLEBIT SUPPORTS.
6.7. SUSPENSION OF TRANSFER - IF OODLEBIT SUSPENDS TRANSFER SUPPORT FOR ANY DIGITAL ASSET YOU MAY BE UNABLE TO WITHDRAW THE REMAINING DIGITAL ASSET BALANCE IN YOUR ACCOUNT. WE WILL TYPICALLY SEND OUT NOTICES IN SUCH CIRCUMSTANCES BUT IN CERTAIN SITUATIONS WE MAY CEASE THE TRANSFER OF DIGITAL ASSETS IMMEDIATELY WITHOUT PRIOR NOTICE.
6.8. ACCOUNT TERMINATION - OODLEBIT MAY TERMINATE ACCESS TO THE SITE OR ITS SERVICES TO COMPLY WITH APPLICABLE LAWS, REGULATIONS, OR ORDERS FROM THE PROPER AUTHORITIES. ALL ACTIVE OR PENDING TRANSACTIONS WILL BE TERMINATED, ANY REMAINING DIGITAL ASSET BALANCES MAY BE FROZEN INDEFINITELY AND OTHER ACTIONS MAY BE TAKEN BY OODLEBIT IN ITS SOLE DISCRETION IN ORDER TO COMPLY WITH ORDERS FROM THE PROPER AUTHORIES OR APPLICABLE LAW.
6.9. DIGITAL ASSET VALUE LOSS - ALL CRYPTOCURRENCIES ARE SUBJECT TO MAJOR AND RAPID FLUCTUATIONS IN VALUE, AND YOU COULD LOSE ALL OR PART OF YOUR INVESTMENT, DUE TO THE APPLICATION OF LAW, NEW OR ADDITIONAL REGULATIONS OR CHANGES IN THE APPLICATION OF EXISTING LAWS OR REGULATIONS, OR GOVERNMENT INTERVENTION.
6.10. TRANSFER LOSS - DIGITAL ASSETS MAY BE LOST IF THEY ARE SENT TO THE WRONG DIGITAL ASSET ADDRESS, WHICH MAY OCCUR BY SENDING DIGITAL ASSETS TO AN ADDRESS THAT CONTAINS AN ERROR, AN IMPROPERLY FORMATTED ADDRESS, AN ADDRESS THAT YOU DO NOT CONTROL, OR TO AN ADDRESS THAT IS FOR A DIFFERENT DIGITAL ASSET FROM THE DIGITAL ASSET YOU SEEK TO TRANSFER (each, an “Improper Address”). OODLEBIT WILL NOT BE ABLE TO RETRIEVE YOUR DIGITAL ASSET ONCE YOU HAVE TRANSFERRED IT FROM THE OODLEBIT PLATFORM.
6.11. TECHNICAL DIFFICULTIES - OODLEBIT MAY EXPERIENCE UNSCHEDULED MAINTENANCE, DOWNTIME, OR TECHNICAL DIFFICULTIES THAT MAY PREVENT YOU FROM ACCESSING YOUR USER ACCOUNT, SENDING A TRANSACTION, RECEIVING YOUR SUPPORT REQUEST, OR OTHER ACTIONS, AND COULD RESULT IN THE LOSS OF DIGITAL ASSETS OR PENDING TRANSACTIONS ON THE OODLEBIT EXCHANGE DUE TO, BUT NOT LIMITED TO: DENIAL OF SERVICE ATTACKS, HARDWARE, SOFTWARE, OR SERVICE PROBLEMS AND INTERNET CONNECTIVITY ISSUES.
6.12. ACCOUNT THEFT - YOUR ACCOUNT MAY BE COMPROMISED BY A THIRD-PARTY AND RESULT IN THE THEFT OF YOUR IDENTITY OR YOUR DIGITAL ASSETS. WE RECOMMEND UTILIZING ALL OF THE SECURITY OPTIONS AVAILABLE TO YOU ON THE OODLEBIT EXCHANGE.
6.13. ACCOUNT ACCESS - To access the OODLEBIT SITE, you must have the necessary equipment (such as a smartphone or laptop) and the associated telecommunication service subscriptions to access the Internet. YOUR INABILITY TO ACCESS THE SITE without interruption MAY CAUSE YOU TO BE UNABLE TO execute OR COMPLETE A TRADE OR A TRANSFER OF DIGITAL ASSETS OR OTHERWISE TO UTILIZE SERVICES.
6.14. Insurance - You acknowledge that Digital assets are not subject to protections or insurance provided by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation.
6.15. BETA Site - Please note that this is a beta version of the site, the oodlebit platform and the oodlebit exchange, which are
still undergoing final testing before its official release. The
site, the oodlebit platform, the oodlebit exchange and the underlying code, software and all content are provided on an
“as is” and “as available” basis. a user uses the site, the oodlebit platform and the oodlebit exchange at the user’s own risk.
THE RISKS DESCRIBED IN THIS SECTION 6 MAY RESULT IN FINANCIAL LOSS TO YOU, THE COMPLETE LOSS OF YOUR DIGITAL ASSETS, TOTAL LOSS OF VALUE OR DECREASE IN VALUE FOR YOUR DIGITAL ASSETS, THE INABILITY TO ACCESS, TRANSFER, OR TRADE YOUR DIGITAL ASSETS, AND POTENTIALLY CIVIL OR CRIMINAL LIABILITY IF YOU ACCESS OR USE THE SITE OR THE SERVICES IN VIOLATION OF APPLICABLE LAW. BY AGREEING TO THE TOS YOU AGREE TO INDEMNIFY, DEFEND AND HOLD HARMLESS OODLEBIT FROM ALL DAMAGES, COSTS AND LIABILITY ARISING FROM OR RELATED TO YOUR USE OF THE SITE OR THE SERVICES, AND YOU ACKNOWLEDGE THAT OODLEBIT IS NOT RESPONSIBLE FOR THE AFOREMENTIONED RISKS OR OTHERWISE IN CONNECTION WITH YOUR USE OF THE SITE OR THE SERVICES, YOU VOLUNTARILY ASSUME AND ACCEPT SUCH RISKS IN DECIDING TO ENGAGE IN USING AND PERFORMING DIGITAL ASSET TRANSACTIONS ON THE OODLEBIT EXCHANGE. YOU HEREBY IRREVOCABLY WAIVE, RELEASE, AND DISCHARGE ANY AND ALL CLAIMS, WHETHER KNOWN OR UNKNOWN TO YOU, AND WHETHER ARISING IN CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE AGAINST OODLEBIT AND ITS RESPECTIVE AFFILIATES, ASSOCIATES, MEMBERS, SHAREHOLDERS, OFFICERS, DIRECTORS, EMPLOYEES, CONTRACTORS, AGENTS, AND REPRESENTATIVES.
BY USING OODLEBIT’S SITE OR SERVICES YOU ACKNOWLEDGE THAT YOU POSSESS THE NECESSARY EXPERTISE AND ABILITY TO DO DUE DILIGENCE ON THE INTEGRITY AND OPERATION OF ANY DIGITAL ASSET YOU ACQUIRE OR TRADE. YOU ACCEPT THE FULL RESPONSIBILITY AND RISKS ASSOCIATED WITH INVESTING, TRADING, BUYING, SELLING, HOLDING, AND TRANSFERRING DIGITAL ASSETS WHILE USING OUR SITE AND OUR SERVICES. YOU SHOULD NOT INVEST IN, TRADE, ACQUIRE OR EXCHANGE ANY DIGITAL ASSET UNLESS YOU CAN AFFORD TO LOSE THE COMPLETE VALUE OF THE DIGITAL ASSET.