Disclosure / Risk Warning / Risk Disclosure
DISCLOSURE
For our digital asset brokerage services, we have connected with the following sourced digital asset exchanges namely:
BN KZ Technologies Limited, which is an entity incorporated in Kazakhstan and regulated by The Astana Financial Services Authority (AFSA) with license number of AFSA-G-LA-2022-0009. Our selection criteria was primarily based on the “Duty of Best Execution” principle. The website of this sourced digital asset exchange is https://www.binance.com/en-KZ;
Binance FZE is a free zone establishment, registered with the Dubai World Trade Centre (registration number 1693) and regulated by the Dubai Digital Assets Regulatory Authority. Our selection Criteria was primarily based on the “Duty of Best Execution” principle. The website of this sourced digital asset exchange is https://www.binance.com/en-AE; and
Nest Exchange Limited (formerly known as Nest Services Limited), a recognized investment exchange by the Financial Services Regulatory Authority (registered number 32533), located in Abu Dhabi, United Arab Emirates. Our selection Criteria was primarily based on the “Duty of Best Execution” principle. The website of this sourced digital asset exchange is https://www.binance.com/en.
Although we, together with BN KZ Technologies Limited, Binance FZE, and Nest Exchange Limited (formerly known as Nest Services Limited) are affiliates under the Binance group, we assure you that: (1) we, BN KZ Technologies Limited, Binance FZE, and Nest Exchange Limited (formerly known as Nest Services Limited) are independently owned, with no cross-shareholding or equity participation among the entities; and (2) our directors and management team are separate from those of BN KZ Technologies Limited, Binance FZE, and Nest Exchange Limited (formerly known as Nest Services Limited), with no reporting or supervisory relationships between them.
We will be keeping your digital asset with the offshore custodian, i.e.
(i) Ceffu SG Pte. Ltd., which is an entity incorporated and legally operating in Singapore under the Payment Services Act, their website is https://www.ceffu.com; and
(ii) Nest Clearing and Custody Limited, which is an ADGM Recognized Body pursuant to the Financial Services and Markets Regulators 2015 (registration order number 0070), their website is https://www.binance.com/en.
RISK WARNING
Please read and understand before accept applying our services:
Investment in cryptocurrency is highly risky; you should study and understand cryptocurrency risks thoroughly because you may lose your entire investment.
The value of digital asset is not guaranteed by any institution, and it cannot be legally used for debt payment.
The price of digital asset is highly volatile, and it can be reduced lower than the purchasing price. Therefore, when you agree to trade digital asset, you should accept the risk incurred from the change of digital asset price, which may result in a loss for you.
The issuance and offering of cryptocurrency is not regulated by the laws of Thailand, and its price is highly volatile without any fundamentals. Investors may lose the entire investment.
We cannot guarantee any risk in relation to the digital asset price changing nor other reasons beyond our control. Therefore, you should study the information about your investment in digital asset before investing.
You may check our financial status from our financial statement which we disclose on our website. In addition, you should consider other factors, such as our service quality or our complaint management before deciding to use our services.
We are not a financial institution pursuant to the Deposit Protection laws, and any deposit of fiat or digital asset with us is not protected by the Deposit Protection laws. Hence, in the case where there is any damage to your asset being kept with us, you may not be able to fully retrieve such asset from us immediately.
You may manage the risk in relation to digital asset safekeeping by keeping them with us only the amounts necessary for your usage, and you may keep the rest in your personal digital asset wallet. Before transacting, you should study how to use each type of the digital asset wallets, as well as how to keep or store the private key and passport etc.
RISK DISCLOSURE
How to interpret this Risk Disclosure
All capitalised terms used in this Risk Disclosure that are defined in the Terms and Conditions for Binance TH by Gulf Binance Platform (“Terms”), have the same meaning and construction as in the Terms.
Acknowledgement of Risk
By accessing or using the Binance TH Services, you acknowledge that you have read, understood, and accepted this Risk Disclosure.
1. GENERAL RISKS
Binance TH Services
In line with our commitments to compliance and user protection, this Risk Disclosure provides you with information about some of the key risks associated with Binance TH Services. Each Binance TH Service has its own distinct risks. This Risk Disclosure provides a general description of some of the risks that may arise when you use Binance TH Services.
This Risk Disclosure is not exhaustive and does not cover or explain all of the risks or how such risks relate to your personal circumstances. It is important that you fully understand the risks involved before making a decision to use Binance TH Services and you should also read the relevant terms applicable to the specific Binance TH Service. By using the Binance TH Services and entering into any Transactions, you agree that you have made your own independent decision to do so and assume all of the related risks, regardless of whether they are covered in this Risk Disclosure.
No Personal Advice
We do not provide personal advice in relation to Binance TH Services. We sometimes provide factual information, information about transaction procedures and information about the potential risks. However, any decision to use Binance TH Services is made by you. No communication or information provided to you by Binance TH is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. You are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance.
No Monitoring
Other than those duties or obligations stipulated in the applicable Law, Binance TH is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities undertaken by you using Binance TH Services. We do not monitor whether your use of Binance TH Services is consistent with your financial goals and objectives. It is up to you to assess whether any activity that you engage in through the Binance TH Services is appropriate given your financial position and risk appetite.
No Tax, Regulatory or Legal Advice
You have sole responsibility for determining what taxes you might be liable to, how and when they apply, and meeting such tax obligations, when transacting through the Binance TH Services. It is your responsibility to report and pay any taxes that may arise from entering into a Transaction by using the Binance TH Services, and you acknowledge that Binance TH does not provide legal or tax advice in relation to these transactions. If you have any doubts about your tax status or obligations when using Binance TH Services, or with respect to the Digital Assets held to the credit of your Binance TH account, you are encouraged to seek independent advice.
Market Risks
An investment in Digital Assets carries significant risk. The value of an investment and any returns can go up or down, and you may lose all or part of your investment and not get back the amount you had invested. If you are new to Digital Assets, consider investing only a small amount. Only invest what you can afford to lose. It is important to do your own research to understand the risks of investing in Digital Assets.
Digital Asset trading is speculative, prices are volatile and market movements are difficult to predict. Supply and demand for Digital Assets can change rapidly without warning and can be affected by a variety of factors which may not be predictable, including regulation, general economic trends and developments in the Digital Asset ecosystem, and there is no assurance that any person or merchant that accepts a Digital Asset as a form of payment today will continue to do so in the future. All investments in Digital Assets carry the risk of loss.
Past performance is not an indicator of future performance. Binance TH does not in any way guarantee or provide any assurance about the performance or market price of Digital Assets or products available through the Binance TH Services.
The Digital Asset industry is subject to systemic and systematic risk. Systemic and systematic risks are both threats to the Digital Asset markets and economy, but the cause of these risks and the approaches for managing them are different. Systemic risk is the risk that a company or industry-level risk could trigger a major collapse. Systematic risk is the risk inherent to the entire market, which can be economic, sociopolitical, technological, or natural in origin. These risks can affect the prices of Digital Assets.
Blockchain technology is a relatively new technology that is evolving rapidly and is likely to be subject to continued technological development. The future development and growth of the Digital Asset industry is subject to a variety of factors that are difficult to predict and evaluate. Similarly, the sustainability of Digital Asset networks may also be affected by a range of different factors. All such factors may impact the value of a Digital Asset.
Negative perceptions about Digital Assets may reduce the confidence of investors in the industry and result in greater volatility of the prices in Digital Assets, including possibly a significant depreciation in value. Any events that trigger negative publicity in respect of Digital Asset markets may therefore have an adverse impact on the value of any investment in Digital Assets.
Valuations of Digital Assets may rely on one or more third-party price feeds, indices, or internal models, which may not reflect fair value and may be subject to manipulation, latency, or divergence across markets. In illiquid or stressed market conditions, valuations may become unreliable or volatile.
Counterparty Risk
You may be exposed to counterparty risk in various circumstances when using Binance TH Services. This may include, without limitation, if a market maker or liquidity provider faces issues which could result in slippage or an inability to execute trades; failures by or disputes with payment processors which may delay deposit and withdrawal transactions.
In such other exceptional circumstances, your holdings and your ability to transact or deal with your holdings, may be adversely affected which may result in a range of outcomes including, without limitation, transactions not completing as expected, trading costs being irrecoverable, loss of profits, inability to acquire or dispose of assets at the desired time or price.
Liquidity Risk
Digital Asset prices on the secondary market are driven by supply and demand and may be highly volatile. Digital Assets may have limited liquidity which may make it difficult or impossible for you to sell or exit a position when you wish to do so. This may occur at any time, including at times of rapid price movements.
Fees & Charges
Binance TH may, in its discretion, update the fees & charges from time to time. Please be aware of all fees and charges that apply to you, because such fees and charges will affect the returns you generate from using Binance TH Services.
Availability Risk
While we aim to deliver a seamless user experience, we cannot guarantee that the Binance TH Services will be available at any particular time or that Binance TH Services will not be subject to unplanned service outages or network congestion. It may not be possible for you to buy, sell, transfer, send or receive Digital Assets when you wish to do so.
Third Party Risk
Third parties, such as payment providers, custodians, and banking partners may be involved in the provision of Binance TH Services. You may be subject to the terms & conditions of these third parties. Unless expressly provided otherwise or as required by applicable Law, Binance TH will not be responsible for any loss that may be incurred by you as a result of or arising from the services provided by such third parties.
Security Risk
The nature of Digital Assets exposes them to an increased risk of cyberattack. While Binance TH uses all reasonable efforts to safeguard Digital Assets and protect the Binance TH Platform from cyberattack, it is not possible for any platform to eliminate security risks entirely. Cyber security breaches of Binance TH’s third-party service providers may also give rise to security risks. There can be no guarantee that systems in place to mitigate cybersecurity threats will always be effective to prevent improper access to the Binance TH Platform and Digital Assets.
You are responsible for keeping your Binance TH Account information safe, and you shall be responsible for all the Transactions under your Binance TH Account, whether you authorised them or not. Transactions in Digital Assets may be irreversible, and losses whether due to theft, system failure, or fraudulent or unauthorised transactions may not be recoverable. Digital Asset holdings are not protected under any deposit guarantee scheme or investor compensation regime.
Asset Specific Risks
Binance TH may display additional risk warnings to users in respect of specific Digital Assets on the Binance TH Platform. The absence of any additional risk warnings in respect of a Digital Asset should not be considered or construed as an opinion, recommendation, judgement or forecast in relation to the relevant Digital Asset and no reliance should be placed on such absence.
Communication Risks
When you communicate with us via electronic communication, you should be aware that electronic communications can fail, can be delayed, may not be secure and/or may not reach the intended destination.
Currency
We currently do not provide any fiat currency other than Thai Baht, however, if we do in the future, currency exchange fluctuations may impact your gains and losses.
Technology and System Risk
The use of Digital Asset services involves reliance on information technology systems, including trading platforms, APIs, and supporting infrastructure. Risks include, but are not limited to:
System delays, interruptions, or outages
Network congestion
Software bugs or errors
Cybersecurity incidents
Such events may result in delayed, failed, or cancelled transactions.
Opportunity Loss Risk
You acknowledge that delays, partial execution, or non-execution of Orders may result in missed trading opportunities or loss of potential profit. Such opportunity losses may occur due to market movements, system limitations or other factors.
2. RISKS RELATED TO DIGITAL ASSETS
Given the nature of Digital Assets and their underlying technologies, there are a number of intrinsic risks, including but not limited to:
a. faults, defects, hacks, exploits, errors, protocol failures or unforeseen circumstances occurring in respect of a Digital Asset or the technologies or economic systems on which the Digital Asset rely, which may prevent the use or access of a Digital Asset;
b. transactions in Digital Assets being irreversible. Consequently, losses due to fraudulent, unauthorised or accidental transactions may not be recoverable;
c. technological developments leading to the obsolescence of a Digital Asset;
d. network delays causing transactions to not be settled on the scheduled delivery date;
e. attacks on the protocol or technologies on which a Digital Asset depends;
f. a hard fork may occur if Digital Asset developers suggest changes to a particular Digital Asset software and the updated software is not compatible with the original software and a sufficient number (but not necessarily a majority) of users and minors elect not to migrate to the updated software. This would result in two versions of Digital Asset networks running in parallel and a split of the blockchain underlying the Digital Asset network, which could impact the demand of the Digital Asset and adversely impact the price of the Digital Asset;
g. certain addresses on the blockchain networks hold a significant amount of the currently outstanding asset on that network. If one of these addresses were to exit their positions, this may result in volatility that could adversely affect the price of that asset;
h. If anyone gains control of over 51% of the computing power (hash rate) used by a blockchain network, they could use their majority share to double spend their Digital Assets. Whilst the risk of this occurring for networks with wider adoption is remote, if such a “51% attack” were to be successful, this would significantly erode trust in public blockchain networks (like Bitcoin and Ethereum) to store value and serve as a means of exchange, which may significantly decrease the value of Digital Assets;
i. Digital Assets are subject to the risk of fraud or cyber attacks;
j. Digital Assets purchased and held in an account with Binance TH are not covered by any external investor compensation, customer asset protection, deposit protection, insurance or other similar schemes; and
k. new risks may arise from investing in new types of Digital Assets or market participants’ engagement in more complex transaction strategies. Digital Assets and the Digital Asset market is subject to speculative interest, rapid price swings and uncertainty.
l. Transactions in Digital Assets rely on new and evolving technologies, including distributed ledger technologies (DLT), which may involve risks such as exposure of personal or commercial information, irreversibility, invalidation, accidental or erroneous transactions, and uncertainties in recording and settlement.
Monitoring Risks
Digital Asset markets are open 24 hours a day, 7 days a week. Rapid price changes may occur at any time, including outside of normal business hours.
Legal and Regulatory Risks
Regulatory changes or actions by the SEC or other applicable regulators could restrict or otherwise adversely affect the use, transfer, exchange, or value of Digital Assets. Changes in laws and regulations may materially affect the value of Digital Assets. This risk is unpredictable and may vary from market to market.