Binance Turkey Membership Agreement Risk Notification Form
This form was served to the User before the User became a member of the Platform and was also sent to the User's registered e-mail account.
1. Cryptocurrency Risk
Since Cryptocurrencies markets are decentralized and non-regulated in Turkey, our services as such term is defined in the ToU are unregulated services which are not governed by specific Turkey regulatory framework. Therefore, when Users are using our services, they will not benefit from the protections available to clients receiving regulated investment services. Users are responsible for knowing and understanding how Cryptocurrency will be addressed, regulated, and taxed under their applicable law.
2. Trading Risk
All these investment products carry a high degree of risk and are not suitable for many investors. This Form provides you with information about the risks associated with these products, but it cannot explain all of the risks nor how such risks relate to your personal circumstances. If you are in doubt you should seek professional advice. It is important that you fully understand the risks involved before deciding to trade with Binance Turkey and that you have adequate financial resources to bear such risks and that you monitor your crypto assets carefully.
Values in any Cryptocurrency marketplace are volatile and can shift quickly. Users are warned that they should pay close attention to their position and holdings, and how they may be impacted by sudden and adverse shifts in trading and other market activities. Cryptocurrency markets are determined by demand and supply.
3. Liquidity Risk
Markets for Cryptocurrency have varying degrees of liquidity. Some are quite liquid while others may be thinner. Thin markets can amplify volatility. Binance Turkey makes no representations or warranties about whether a Cryptocurrency that may be traded on the Platform. If at any time any of the Cryptocurrencies that forms the subject of your order is delisted and/or we no longer support the trading in such Cryptocurrencies for any reason, then the applicable order will be immediately closed.
The user must protect the password and/or other information that he/she uses to access his/her User Account in a secure manner. Otherwise, he/she may suffer irreparable damages. The User should further ensure he/she is able to monitor positions on your User Account at all times, as each User is solely responsible for security of his/her User Account. Binance Turkey is not responsible for monitoring positions on any User Account.
5. Exchange and Transmission Risk
The User is responsible for the transfers of Cryptocurrencies exchanged on the Site to their electronic wallets. He/she is also responsible for taking security measures related to these wallets. In case of a transfer of a Cryptocurrency to a different Cryptocurrency wallet but belonging to other User, Binance Turkey shall not be held responsible and all responsibility shall be borne by the User who carried out incorrect transfer. Again, the user is responsible for the incorrect transfers due to the incorrect entry of the information that must be entered during the transfer according to the technical specifications of Cryptocurrencies.
The operation instructions given by the User cannot be cancelled or rescinded after they have been executed. All responsibility arising from the fulfillment of the instructions given by the User regarding the services subject to the instructions shall be held by the User.
6. Internet Risk
While trading on our Site and/or Apps, system errors might occur. User should be aware of the risks that may result from any system failure which could mean that his/her order may be delayed or fail.
User acknowledges that there are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connections, the risk of malicious software introduction, the risk that third parties may obtain unauthorized access to information and/or digital assets stored on your behalf, cyber-attack, the Cryptocurrency network failure, computer viruses, communication failures, disruptions, errors, distortions or delays a User may experience when trading via the services, howsoever caused, spyware, scareware, Trojan horses, worms or other malware that may aﬀect your computer or other equipment, or any phishing, spooﬁng or other attack.
7. Third Parties’ Risk
Binance Turkey may cooperate with third parties providing fiat/crypto currency services. If any such Third Party loses any money, fails or goes out of business, there is no speciﬁc legal protection that covers you for losses arising from any funds you may have held with such Third Party, even when such party is registered with a national authority. Depending on the structure and security of the digital wallet, some may be vulnerable to hacks, resulting in the theft of virtual currency or loss of customer assets. Binance Turkey will not be responsible in the event of losses caused by those third parties.
User shall bear the sole responsibility to determine if the trading of Cryptocurrency or the potential appreciation or depreciation in the value of Cryptocurrency over time has tax implications for such User in his/her applicable jurisdiction. Users are solely responsible for withholding, collecting, reporting, paying, and/or remitting any and all taxes to the appropriate tax authorities in such jurisdiction(s).
Our fees and commissions are set out on our Platform Please be aware of all costs and charges that apply to you. Cryptocurrency transfers cannot be refunded, therefore the fees to be paid by the User to Binance Turkey for transactions cannot be refunded.
Any opinions, news, research, analyses, prices, or other information contained on the Platform are provided as general market commentary, and do not constitute investment advice. Binance Turkey shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information provided.
The User shall accept, declare and undertake that he / she has read, understood and accepted all these risks before using the Platform and the services.