This document outlines the key risks associated with using Bleap’s platform and holding crypto assets. Whilst we strive to provide a secure and user-friendly platform, it is crucial that you understand and acknowledge these inherent risks before engaging with cryptocurrencies.
The value of crypto assets can be highly volatile, meaning the value of your investment may fall, and you could lose some or all of the money you have invested. If you are considering purchasing or trading crypto assets, you must first understand that these risks exist. Before proceeding, you should carefully consider whether you are financially and temperamentally prepared to accept these risks, as well as any others that may arise. We strongly recommend conducting independent research, and suggest limiting your participation to crypto assets that are compliant with MiCA standards.
Please take the time to review this information thoroughly before finalising any transaction, so that you are fully aware of the potential risks involved.
The crypto-asset market is a rapidly evolving space, characterised by a high degree of uncertainty and volatility. Please be aware that there is a substantial risk of losing some or all of your money when trading or holding these assets. The value of any crypto-asset is influenced by a wide range of factors, including, but not limited to:
As with any asset, the value of Digital Assets can fluctuate, and there is a substantial risk of financial loss when buying, selling, trading, holding, or investing in Digital Assets, such as cryptocurrencies. You should thoroughly consider whether engaging in such activities is suitable for you. The value of Digital Assets can be influenced by market participants' willingness to exchange them for Fiat currencies or other Digital Assets. If this willingness diminishes for any reason, it could lead to a permanent and complete loss of value for a particular Digital Asset. The price of Digital Assets can be highly volatile and unpredictable, resulting in significant losses over a short time.
Many crypto-asset issuers are not authorised under the Markets in Crypto-Assets Regulation (MiCA). Consequently, these assets present a higher degree of risk and volatility and do not benefit from the same investor protection rules that apply to regulated investments.Please be aware that not all assets currently available on the Bleap platform are issued by MiCA-authorised entities. In the absence of such authorisation, there is a greater risk of:
Given these factors, you should understand the significantly higher risks involved when transacting in crypto-assets that do not meet regulatory standards. We strongly recommend that you conduct thorough independent research and consider limiting your trading activity to assets issued by entities that are duly authorised under MiCA.
Your access to crypto-assets is secured by private keys, encrypted by a private password for which you hold sole responsibility. Please be aware that if you lose your private password to unencrypt your private key, your assets will be permanently and irretrievably lost. There is no central authority or third party, including Bleap, that can recover them for you under any circumstances.
Whilst our platform has security procedures in place, if you forget your Bleap account password and are unable to complete the recovery process, you may also be permanently locked out of your account and lose access to your funds.
You should be aware of the significant risks associated with concentrating your capital. Placing all your funds into a single crypto-asset, or a small selection of assets, exposes you to a heightened risk of substantial financial loss. A negative performance in that single asset could result in the total loss of your investment. Furthermore, given the inherent volatility of the crypto-asset market, you must acknowledge the risk of losing your entire investment.
You are solely responsible for assessing your own financial situation and risk tolerance. You should only commit funds that you are prepared and can afford to lose in their entirety without impacting your financial security.
Liquidity refers to the ease with which an asset can be converted into cash without significantly affecting its market price. The crypto-asset market, however, can be illiquid at times, particularly for newer or less-traded assets. This is because there may be fewer active buyers and sellers compared to more established financial markets.
As a result, you face the following risks:
The blockchain networks that crypto assets run on can sometimes become congested with a high volume of transactions. When this happens, it can take longer for your transactions to be confirmed, and you may need to pay higher transaction fees to have your transactions prioritized. This can lead to delays in executing trades or transferring funds.
You should be aware that the crypto-asset market is exposed to a significant risk of fraud and malicious activity. It is crucial that you remain vigilant and recognise the common types of scams, which include, but are not limited to:
Beyond these external threats, the fundamental nature of blockchain technology introduces a critical risk: all transactions are final and irreversible. Once a trade has been placed, it cannot be cancelled or recalled under any circumstances. Similarly, once an order has been sent to a cryptocurrency wallet, it is irrevocable and cannot be retrieved. All orders are considered final and non-refundable once they are initiated.
Bleap utilises blockchain networks and online payment systems to settle trades but does not operate these settlement platforms. Therefore, Bleap is not liable for errors or delays in the functioning of these third-party systems.
By using our services, you acknowledge and agree that all cryptocurrency purchases, sales, and exchanges are ultimate and binding. Upon the successful delivery of cryptocurrency to your wallet or fiat funds to your selected bank account, Bleap’s obligations are fully met, and no further claims may be asserted against us.
Please be aware that you are solely responsible for safeguarding your private password and must exercise extreme caution to prevent fraud, user error, or the loss of it. Bleap will not assume any responsibility for issuing refunds, even in cases of fraud, errors, or private key loss. It is therefore essential that you exercise the utmost caution and personal responsibility when engaging in any cryptocurrency transaction.
Whilst the underlying blockchain technology is generally secure, the digital nature of crypto-assets exposes them to various cybersecurity threats. You must be aware of the following risks:
It is your sole responsibility to take robust security measures to protect your accounts and devices. Failure to do so could result in the partial or total loss of your funds.
Engaging in staking or interacting with Decentralised Finance (DeFi) protocols through any platform, including Bleap, introduces a unique and complex set of risks beyond standard trading.
The tax treatment of crypto-assets is a complex and evolving area of law that varies significantly between jurisdictions. It is crucial that you understand your personal responsibilities in this regard.
