Release date: 18.08.2022
Cleverlee provides the Users with the possibility to use the Services described in the Terms of Cleverlee. This Risk disclaimer provides the User with information about the risks associated with using the Services provided by Cleverlee through the Website.
The User uses the Website and the Services at their own risk. The User must carefully consider whether the risks set out in this disclaimer, as well as all other applicable risks, are acceptable to the User prior to using the Website or the Services. Cleverlee encourages the User to seek professional advice (legal, taxation, financial, technical or otherwise) regarding the User’s particular situation before using the Services. If any of the risks are unacceptable to the User, the User should not use the Services.
General risks
To date, the Website has specific functionality and utility. However, the Website may undergo significant changes over time. Various features of the Website and/or the Services, including its terms and conditions, fees, structure, purpose, algorithm, source codes, infrastructure design and other technical specifications and parameters, may be updated and changed frequently without notice. Cleverlee may encounter difficulties during development, including financial, resourcing and technical difficulties. Particular features of the Services may never be realised.
Further, while using the Website and/or Services, system errors may occur. Cryptocurrencies, Websites and Services rely heavily on the internet. However, the public nature of the internet means that either part of the internet, or the entire internet, may be unreliable or unavailable at any given time. Further, interruption, delay, corruption or loss of data, or the loss of confidentiality in the transmission of data, may occur when transmitting data via the internet.
The User acknowledges that there are risks associated with utilizing a trading system over the internet including, but not limited to, the failure of hardware, software, and internet connections, the risk of malicious software introduction, the risk of third parties may obtaining unauthorized access to information and/or assets (including the User’s Cryptocurrencies) stored on the User’s behalf, cyber-attack, the Cryptocurrency network failure (such as blockchain), computer viruses, communication failures, disruptions, errors, distortions or delays the User may experience when using the Services, howsoever caused, spyware, scareware, Trojan horses, worms or other malware that may affect the User’s computer or other equipment, or any phishing, spoofing or other attacks.
Cryptocurrencies risks
Since Cryptocurrency markets are decentralized and not regulated to the degree of investment services then customers using the Services will not fully benefit from the protections available to Users receiving regulated investment services under the so-called MiFID regime. This also means that there is no central bank that can take corrective measures to protect the value of Cryptocurrencies in a crisis or issue more Cryptocurrencies.
The cryptocurrency market is determined only by supply and demand and is often highly unpredictable and volatile. The price of Cryptocurrencies is usually not transparent and highly speculative and susceptible to market manipulation. In the worst-case scenario, the product could be rendered worthless. Past performance is not an indication of future performance. The value of investments of the Users in Cryptocurrencies can go down as well as up. Changes in foreign exchange rates can also cause a decrease or increase in the value of the investments of the User in Cryptocurrencies. Other risk factors affecting the value of an investment or return on investment include, but are not limited to, political, economic, credit and market risks.
Cryptocurrencies are prone to be misused for illegal activities due to the pseudonymity or even anonymity of transactions and investors would be adversely affected if law enforcement agencies investigate any alleged illicit activities (incl. money laundering and terrorist financing). Therefore, Cryptocurrencies should be seen as an asset class subject to extremely high risks and the User should never invest money that the User cannot afford to lose. The User should be satisfied that the Services are suitable for the User in the light of the User’s circumstances and financial position. The User should not invest in Cryptocurrencies and/or use the Services unless the User has the necessary knowledge and expertise, and understands its characteristics and exposure to risk. In addition, the use of the Services can never be considered a safe investment but rather only an investment with a high risk of loss inherently associated with it. The risk of loss in trading Cryptocurrencies can be substantial. The User should be aware that the User may sustain a total loss of the deposited funds.
Blockchain risks
Blockchain is an independent public or private peer-to-peer network and is not controlled in any way or manner by Cleverlee. Cleverlee does not own or control the underlying software protocols which govern the operation of Cryptocurrencies available for trading on the Website. In general, the underlying protocols are open source, and anyone can use, copy, modify, and distribute them.
The User will be bound and subject to any changes and/or amendments in the blockchain system and subject to any applicable law which may apply to the blockchain. Cleverlee shall not be responsible for any failure and/or mistake and/or error and/or breach which shall occur in blockchain or in any other networks in which the Cryptocurrencies are being issued and/or traded. Cleverlee is not responsible for the operation of the underlying protocols and makes no guarantee of their functionality, security, or availability.
No Offer, Recommendation or Solicitation
None of the information contained on the Website constitutes a recommendation, solicitation or offer by Cleverlee to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service. The information and materials on this Website are provided for information purposes only. Certain information contained herein (including financial information) has been obtained from published and nonpublished sources. Such information has not been independently verified by Cleverlee, and Cleverlee does not assume responsibility for the accuracy of such information.
The Website is not intended to provide investment advice to nor carry on any other investment services and activities (as defined in the European Union’s Markets in Financial Instruments Directive 2004/39/EC (“MiFID”)).
Forward-looking statements
All statements contained in this Website, any statements made in press releases or other publicly available venues and oral statements that may be made by Cleverlee or its representatives (as the case may be) that are not statements of historical facts constitute "forward-looking statements." All statements regarding Cleverlee’s financial position, business strategies, plans and prospects (incl. revenue and profitability) and the prospects of the industry in which Cleverlee is in, constitute as forward-looking statements.
Some of these statements may be identified by forward-looking terminology such as "aim," "target," "anticipate," "believe," "may," "estimate," "expect," "if," "intend," "may," "plan," "possible," "likely," "project," "should," "would," "will," or similar or synonymous terms.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual future results, performance or achievements of Cleverlee to be materially different from any future results, performance or achievements expected, expressed or implied by such forward-looking statements. Nothing contained in the Website is or may be relied upon as a promise, representation or undertaking as to this the future performance or policies of Cleverlee. Cleverlee disclaims any responsibility to update any of those forward-looking statements, even if new information becomes available or other events occur in the future.
Last update: 18.09.2024
Risk disclaimer
Cleverlee provides the Users with the possibility to use the Services described in the Terms of Cleverlee. This Risk disclaimer provides the User with information about the risks associated with using the Services provided by Cleverlee through the Website.
The User uses the Website and the Services at their own risk. The User must carefully consider whether the risks set out in this disclaimer, as well as all other applicable risks, are acceptable to the User prior to using the Website or the Services. Cleverlee encourages the User to seek professional advice (legal, taxation, financial, technical or otherwise) regarding the User’s particular situation before using the Services. If any of the risks are unacceptable to the User, the User should not use the Services.
General risks
To date, the Website has specific functionality and utility. However, the Website may undergo significant changes over time. Various features of the Website and/or the Services, including its terms and conditions, fees, structure, purpose, algorithm, source codes, infrastructure design and other technical specifications and parameters, may be updated and changed frequently without notice. Cleverlee may encounter difficulties during development, including financial, resourcing and technical difficulties. Particular features of the Services may never be realised.
Further, while using the Website and/or Services, system errors may occur. Cryptocurrencies, Websites and Services rely heavily on the internet. However, the public nature of the internet means that either part of the internet, or the entire internet, may be unreliable or unavailable at any given time. Further, interruption, delay, corruption or loss of data, or the loss of confidentiality in the transmission of data, may occur when transmitting data via the internet.
The User acknowledges that there are risks associated with utilizing a trading system over the internet including, but not limited to, the failure of hardware, software, and internet connections, the risk of malicious software introduction, the risk of third parties may obtaining unauthorized access to information and/or assets (including the User’s Cryptocurrencies) stored on the User’s behalf, cyber-attack, the Cryptocurrency network failure (such as blockchain), computer viruses, communication failures, disruptions, errors, distortions or delays the User may experience when using the Services, howsoever caused, spyware, scareware, Trojan horses, worms or other malware that may affect the User’s computer or other equipment, or any phishing, spoofing or other attacks.
Cryptocurrencies risks
Since Cryptocurrency markets are decentralized and not regulated to the degree of investment services then customers using the Services will not fully benefit from the protections available to Users receiving regulated investment services under the so-called MiFID regime. This also means that there is no central bank that can take corrective measures to protect the value of Cryptocurrencies in a crisis or issue more Cryptocurrencies.
The cryptocurrency market is determined only by supply and demand and is often highly unpredictable and volatile. The price of Cryptocurrencies is usually not transparent and highly speculative and susceptible to market manipulation. In the worst-case scenario, the product could be rendered worthless. Past performance is not an indication of future performance. The value of investments of the Users in Cryptocurrencies can go down as well as up. Changes in foreign exchange rates can also cause a decrease or increase in the value of the investments of the User in Cryptocurrencies. Other risk factors affecting the value of an investment or return on investment include, but are not limited to, political, economic, credit and market risks.
Cryptocurrencies are prone to be misused for illegal activities due to the pseudonymity or even anonymity of transactions and investors would be adversely affected if law enforcement agencies investigate any alleged illicit activities (incl. money laundering and terrorist financing). Therefore, Cryptocurrencies should be seen as an asset class subject to extremely high risks and the User should never invest money that the User cannot afford to lose. The User should be satisfied that the Services are suitable for the User in the light of the User’s circumstances and financial position. The User should not invest in Cryptocurrencies and/or use the Services unless the User has the necessary knowledge and expertise, and understands its characteristics and exposure to risk. In addition, the use of the Services can never be considered a safe investment but rather only an investment with a high risk of loss inherently associated with it. The risk of loss in trading Cryptocurrencies can be substantial. The User should be aware that the User may sustain a total loss of the deposited funds.
Blockchain risks
Blockchain is an independent public or private peer-to-peer network and is not controlled in any way or manner by Cleverlee. Cleverlee does not own or control the underlying software protocols which govern the operation of Cryptocurrencies available for trading on the Website. In general, the underlying protocols are open source, and anyone can use, copy, modify, and distribute them.
The User will be bound and subject to any changes and/or amendments in the blockchain system and subject to any applicable law which may apply to the blockchain. Cleverlee shall not be responsible for any failure and/or mistake and/or error and/or breach which shall occur in blockchain or in any other networks in which the Cryptocurrencies are being issued and/or traded. Cleverlee is not responsible for the operation of the underlying protocols and makes no guarantee of their functionality, security, or availability.
No Offer, Recommendation or Solicitation
None of the information contained on the Website constitutes a recommendation, solicitation or offer by Cleverlee to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service. The information and materials on this Website are provided for information purposes only. Certain information contained herein (including financial information) has been obtained from published and nonpublished sources. Such information has not been independently verified by Cleverlee, and Cleverlee does not assume responsibility for the accuracy of such information.
The Website is not intended to provide investment advice to nor carry on any other investment services and activities (as defined in the European Union’s Markets in Financial Instruments Directive 2004/39/EC (“MiFID”)).
Forward-looking statements
All statements contained in this Website, any statements made in press releases or other publicly available venues and oral statements that may be made by Cleverlee or its representatives (as the case may be) that are not statements of historical facts constitute "forward-looking statements." All statements regarding Cleverlee’s financial position, business strategies, plans and prospects (incl. revenue and profitability) and the prospects of the industry in which Cleverlee is in, constitute as forward-looking statements.
Some of these statements may be identified by forward-looking terminology such as "aim," "target," "anticipate," "believe," "may," "estimate," "expect," "if," "intend," "may," "plan," "possible," "likely," "project," "should," "would," "will," or similar or synonymous terms.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual future results, performance or achievements of Cleverlee to be materially different from any future results, performance or achievements expected, expressed or implied by such forward-looking statements. Nothing contained in the Website is or may be relied upon as a promise, representation or undertaking as to this the future performance or policies of Cleverlee. Cleverlee disclaims any responsibility to update any of those forward-looking statements, even if new information becomes available or other events occur in the future.
Let's Get in Touch
support@cleverlee.io
Support 24/7
+370 (648) 50 931
Lithuanian Office
Monday-Friday
10:00-18:00 CET Time
10:00-18:00 CET Time
UAB Cleverlee
Registry Code 305935751,
Vilnius, Eišiškių Sodų 18-oji st. 11, LT-02194
Vilnius, Eišiškių Sodų 18-oji st. 11, LT-02194
Cleverlee website and Cleverlee mobile apps are owned by the company incorporated in Lithuania with company number 305935751, registered office at Eisiskiu Sodu 18-oji st. 11, Vilnius, Lithuania which is regulated by the laws of that country.
Cleverlee is not a bank. Your Cleverlee Visa prepaid card is issued by Wallester AS a Payment Service Provider, authorized by the Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority), and an official Visa Principal Member. Registration code: 11812882. Cleverlee UAB is the Card Programme Manager.
Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by Cleverlee. Rates for Cleverlee products are subject to change.
Risk Disclaimer: Virtual currencies are highly volatile and novel instruments which are traded on virtual currency exchanges with full, minimal or no-at-all regulatory supervision. Investing in virtual currencies is highly risky, and you can rapidly lose your entire invested capital. Before buying virtual currencies, you should consider whether you understand how the market in virtual currencies works and whether you can afford to take the high risk of losing your money.
Cleverlee is not a bank. Your Cleverlee Visa prepaid card is issued by Wallester AS a Payment Service Provider, authorized by the Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority), and an official Visa Principal Member. Registration code: 11812882. Cleverlee UAB is the Card Programme Manager.
Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by Cleverlee. Rates for Cleverlee products are subject to change.
Risk Disclaimer: Virtual currencies are highly volatile and novel instruments which are traded on virtual currency exchanges with full, minimal or no-at-all regulatory supervision. Investing in virtual currencies is highly risky, and you can rapidly lose your entire invested capital. Before buying virtual currencies, you should consider whether you understand how the market in virtual currencies works and whether you can afford to take the high risk of losing your money.
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