Below is a non-exhaustive list of the primary risk factors that the Company considers to be significant in relation to the token's trading and/or use. These risk considerations should be taken into consideration alongside all other information provided in the Whitepaper and participants are recommended to check with their professional advisers (including their financial, accounting, legal, tax, or technical advisers or experts).
A wallet is required for the acquisition, storage, and disposal of Firepin Tokens. The participant acknowledges that he is responsible for establishing the Wallet with a third-party provider to retain Firepin Tokens and for taking acceptable security measures to protect the wallet. As a result, if the requisite private key(s) associated with the Wallet holding Firepin Tokens are lost, the Firepin Tokens and any other cryptocurrencies and/or tokens will be lost as well. Additionally, any third party that has access to such private key(s), including through the Participant's Wallet's login credentials, may be able to misappropriate the Participant's Firepin Token. Any errors or malfunctions caused by or relating to the Wallet used by the Participant to receive and hold Firepin Tokens, including the Participant's own failure to properly maintain or use such Wallet, or caused by the Participant's choice of third party provider for the Wallet, may also result in the loss of Firepin Tokens.
Denial of service attacks, Sybil attacks, spoofing, smurfing, virus attacks and any other similar events that could have an influence on Firepin Tokens and the services the Company may offer from time to time may be attempted by hackers or groups of hackers.
There is a possibility that the Smart Contract, the Website, or the Firepin Tokens may have inadvertent flaws or vulnerabilities in the source code, preventing users from using or losing Firepin Tokens. Updates and modifications may have unwanted or unforeseen consequences for Firepin Tokens.
Exchanges may be subject to unclear governmental control, and the Company makes no representations or warranties about exchange service providers. Users, including the participant, may be subject to fraud and failure in connection with those exchanges. There is no guarantee that an active secondary market for Firepin Tokens will develop or continue to develop.
Unlike bank accounts or accounts with financial organisations, Firepin Tokens are not covered unless the participant buys private insurance particularly for that purpose. There is no public insurer for the loss of Firepin Tokens.
There are threats connected with the use of Firepin Tokens, including the failure of hardware, software, and Internet connections, as well as other technologies on which Firepin Tokens rely. These failures may cause communication breakdowns, mistakes, distortions, or delays when utilising Firepin Tokens or the Website.
The quotation of the Firepin Token can fluctuate presenting a challenge to model and estimate the future market behaviour even for seasoned cryptocurrency traders. Native cryptocurrencies associated with the internal working of the networks to which the Firepin Token is deployed are also subject to fluctuations that directly and indirectly could impact the token’s value in the market. The Participant must comprehensively acknowledge price fluctuation risks of the cryptocurrency market and that still cryptocurrencies are traditionally subject to these significant price fluctuations that are beyond the control of the Company and driven mostly by exterior or market forces. The Participant also recognises their Firepin Token value can go down as well as up and they could lose some or all of their investment.
The Participant acknowledges and accepts the inherent risks connected with Firepin Tokens, including, but not limited to, risks associated with money laundering, fraud, exploitation for criminal purposes and any other unanticipated dangers. If any of the risks described in the terms are unacceptable to the Participant and the Participant is unable to comprehend them, the Participant should refrain from acquiring, holding, or using Firepin Tokens.