Disclosure
Last updated: June 2024
Risk Disclosure
SafeBank provides this disclosure to help you understand the risks associated with using our services and investing in cryptocurrency assets. By using SafeBank, you acknowledge that you have read, understood, and accept these risks.
Cryptocurrency Risks
- Market Volatility: The cryptocurrency market is highly volatile. The value of cryptocurrencies, including stablecoins like USDC, can fluctuate significantly over short periods, potentially resulting in substantial losses.
- Liquidity Risk: Cryptocurrency markets may experience periods of decreased liquidity, which could make it difficult to buy or sell assets at desired prices or times.
- Technical Vulnerabilities: Cryptocurrencies rely on complex technology that may contain bugs, vulnerabilities, or other technical issues that could result in the loss of assets.
- Regulatory Uncertainty: The regulatory landscape for cryptocurrencies is evolving and varies by jurisdiction. Changes in laws or regulations could adversely affect the value of your assets or our ability to provide services.
- Tax Implications: Cryptocurrency transactions may have tax consequences. You are responsible for determining any tax obligations related to your activities on SafeBank.
Service-Specific Risks
- Yield Generation: The generation of yield on your assets involves risks, including smart contract risks, counterparty risks, and the risk that the strategies used may not perform as expected.
- Stablecoin Risks: Even assets like USDC that are designed to maintain a stable value may experience depegging or other failures that could result in loss of value.
- Smart Contract Risks: The smart contracts used by SafeBank or our partners could contain vulnerabilities that may result in the loss of funds.
- Protocol Risks: The DeFi protocols used to generate yield may have design flaws, governance issues, or other risks that could affect your assets.
NOT FDIC INSURED: Cryptocurrency assets held on SafeBank are not protected by FDIC insurance or any similar insurance or protection. Your crypto assets may lose value.
No Investment Advice
SafeBank does not provide investment, tax, legal, or accounting advice. The information provided through our services is for informational purposes only and should not be construed as financial or investment advice. You should consult with qualified professionals regarding your specific circumstances.
Third-Party Services
SafeBank may integrate with or rely on third-party services, including DeFi protocols, blockchain networks, and custody solutions. We do not control these third parties, and their failure could impact your experience with SafeBank and potentially result in the loss of assets.
Risk Management
While SafeBank implements security measures to protect your assets, no system is completely secure. We recommend that you:
- Only use funds that you can afford to lose
- Diversify your investments across different assets and platforms
- Maintain secure access to your wallet and private keys
- Stay informed about the cryptocurrencies you hold and the services you use
Changes to This Disclosure
We may update this disclosure from time to time to reflect changes in our services or the evolving risks in the cryptocurrency landscape. We will notify you of material changes by updating the date at the top of this disclosure.
Contact Us
If you have any questions about this Disclosure, please contact us at:
SafeBank Inc.
2430 Vanderbilt Beach Rd. 108-529
Naples, FL 34109
support@safebankclub.com