From BITSA we want to be transparent and inform you about the risks of buying cryptocurrencies so that you can make an informed decision, being aware of the risks of this investment.
The offer of cryptoassets is regulated by Circular 1/2022, of January 10, of the National Securities Market Commission.
Therefore, if you decide to acquire any of the cryptocurrencies through us, we inform you that you must take into account the following risks:

High risk investment product

The value of the investments and the return obtained thereon may experience significant upward and downward fluctuations, and the entire amount invested may be lost.

Investments in early stage projects involve a high level of risk, so it is necessary to properly understand the project’s business model.

The cryptoassets offered in the crypto module are not covered by customer protection mechanisms such as the Deposit Guarantee Fund or the Investor Guarantee Fund.

Cryptoasset prices are formed in the absence of mechanisms that ensure their correct formation, such as those present in the regulated securities markets.

Many cryptoassets may lack the liquidity needed to unwind an investment without significant losses, as their circulation among both retail and professional investors can be very limited.

Risks inherent to the technology

Distributed log technologies are still at an early stage of maturity, with many of these networks having been created only recently, so they may not be sufficiently tested and there may be significant flaws in their operation and security.

The recording of transactions in networks based on distributed registry technologies works through consensus protocols that may be susceptible to attacks that attempt to modify this registry and, in the event that these attacks are successful, there would be no alternative registry to support these transactions and therefore the balances corresponding to the public keys, and all the cryptoassets could be lost.

The anonymity facilities that cryptoassets can provide make them a target for cybercriminals, since in the case of stealing credentials or private keys they can transfer the cryptoassets to addresses that make it difficult or impossible to recover them and therefore lose the investment.

The custody of the crypto-assets is a very important responsibility since they can be lost in their entirety in the event of theft or loss of the private keys.
The funds are held in a Pressbroker SL account with Payward Trading Ltd., c/o SHRM Trustees (BVI) Limited, Trinity Chambers, Ora et Labora Building, Road Town, Tortola, VG1110, British Virgin Islands.
You can view their terms of service at the following website. The Italian branch of Payward Europe Solutions, Ltd. is registered with the Organismo Agenti e Mediatori (“OAM”) under registration number PSV35.

Legal risks

The acceptance of cryptoassets as a medium of exchange is still very limited and there is no legal obligation to accept them.

When the service provider is not located in a European Union country, the resolution of any dispute could be costly and fall outside the scope of the Spanish authorities.
The service provider, Payward Europe Solutions, Ltd is located in Italy and covered by Italian and European regulations.

Crypto-assets and private keys are not available to investors.
Crypto-assets are stored in an account held by Pressbrokers S.L. Payward Trading Ltd.
The investor has economic ownership (he can participate in profit and loss, or buy, sell as he wishes).

If with all this information you have any doubts, you can obtain more information by contacting us at soporte@bitsacard.com.