ZYKZ is a trading name of Jigzo, a regulated financial services provider. All regulated services offered under the ZYKZ brand are provided by Jigzo. This Cryptocurrency Risks summary applies to all customers using ZYKZ's digital asset services.
This summary is designed to provide you with a clear and balanced overview of the inherent risks associated with cryptoasset transactions. Its purpose is to ensure that you understand the potential for financial loss, the nature of the market, and the complexities of these assets before transacting. This document does not constitute financial or investment advice.
This summary applies to all corporate customers who use ZYKZ's services to engage with digital assets, including onramp and offramp transactions involving Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC). It is not exhaustive and should be read alongside ZYKZ's Terms of Service.
The value of most cryptoassets is highly volatile, meaning their prices can drop as quickly as they rise. Customers should be prepared for the possibility of significant loss in the value of their digital assets between the time of instruction and the time of settlement.
While ZYKZ adheres to regulatory requirements in the jurisdictions it operates, the broader cryptoasset market remains largely unregulated. Risks include, but are not limited to, cyber-attacks, financial crime, and the failure of third-party service providers.
Blockchain transactions, once executed, cannot be reversed. Customers are solely responsible for the accuracy of all wallet addresses provided. ZYKZ cannot recover funds sent to an incorrect address.
Digital asset transactions are not covered by compensation schemes such as the Financial Services Compensation Scheme (FSCS) in the United Kingdom. Customers should not assume any form of deposit protection applies to digital assets.
While complaints against regulated firms may be handled by relevant dispute resolution bodies, losses related to digital asset market movements are not covered by such mechanisms.
There is no guarantee that Customers will be able to execute transactions at a desired price or time. Liquidity depends on market conditions, including supply and demand at the time of execution. Technology outages, cyber-attacks, or operational issues may also delay the processing or settlement of transactions.
Digital asset transactions can be complex. ZYKZ encourages all Customers to conduct thorough research before transacting and to ensure they fully understand the assets and networks involved. Not all cryptoassets carry the same risks, and Customers should review the specific characteristics of each asset before use.
ZYKZ does not hold or custody digital assets on behalf of Customers. All digital assets are settled directly to the Customer's pre-configured wallet address. Customers are responsible for the security and management of their own wallets.
This summary serves as a general overview of risks and does not constitute financial or investment advice. Customers are responsible for making informed decisions and should consult professional advisers where necessary. For further information about cryptoassets and how to protect yourself, visit the Financial Conduct Authority (FCA) website at fca.org.uk or the European Securities and Markets Authority (ESMA) website at esma.europa.eu.