This notice provides you with key information about Colossos' Website and Services and about the risks associated with cryptocurrencies. Each Colossos' service has its own distinct risks, and this notice provides a general description of the risks when using Colossos' services.
Electronic Money Services
Electronic Money Services are provided by an Electronic Money Institution authorised by a Central Bank of the European Union for the issuance of electronic money and payment Services. Colossos Payments UAB is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and the full value safeguarded in line with the Financial Supervision Act - for more information please see this link. Electronic money is not covered by any Financial Services Compensation Scheme, but 100% of the funds are safely safeguarded with regulated financial institutions.
Cryptocurrency Services are provided by Colossos Digital Assets UAB, registered by the State Enterprise Centre of Registers of the Republic of Lithuania as a provider of virtual currency exchange and virtual currency wallet provider. Colossos Digital Assets UAB is a company legally registered and operating under the legal acts of the Republic of Lithuania, company code 306163726, headquartered at Upės g. 21-1, LT-08128 Vilnius, Lithuania. It's important to note that Colossos Digital Assets UAB's cryptocurrency services are controlled by the Lithuanian FCIS (Financial Crime Investigation Service), but they are not regulated by the Bank of Lithuania. In addition, cryptocurrencies are not covered by any protection scheme.
No Financial Advice
The information provided on this website is for general information purposes only and should not be construed as financial advice, investment recommendations, or any form of solicitation or offer to buy or sell cryptocurrencies. We do not provide investment advice, and any investment decisions you make are solely your own responsibility. It is important to conduct your own research, seek independent financial advice, and carefully consider your own financial situation and risk tolerance before making any investment decisions.
We strive to provide a secure and reliable platform for both traditional fiat currencies and cryptocurrencies. However, it's essential to understand the specific risks associated with the use of Colossos' services. The list of risks presented below is not exhaustive.
Cryptocurrencies can experience substantial price fluctuations and high volatility. The value of your cryptocurrency holdings may change rapidly, and there is no guarantee that past performance will be indicative of future performance. It is important to note that all investments carry a risk of capital loss, which could be total. Cryptocurrency markets operate 24/7, and significant price fluctuations can occur at any time without warning. Therefore, you should carefully consider these risks before engaging in cryptocurrency investments.
While we strive to provide a reliable platform, there is no guarantee that services will be exempt from service interruptions, system failures, or technical issues that could impact the availability of our services. These disruptions could temporarily hinder your ability to access and manage your cryptocurrencies. While we take proactive measures to minimize such risks, it is important to acknowledge that unforeseen events or circumstances beyond our control may occur.
We do not actively monitor or evaluate whether your use of our services aligns with your specific financial goals and objectives. It is your responsibility to assess whether your financial resources are sufficient for the activities conducted on our platform and to consider your risk appetite when engaging with the services we offer. We encourage you to carefully evaluate your own financial situation and make informed decisions based on your own analysis and risk tolerance.
No Tax Advice
The taxation of cryptocurrencies is subject to uncertainty and can vary significantly depending on jurisdictions. It is your sole responsibility to ensure compliance with all applicable tax laws and regulations. We do not provide tax advice, and any information or content on our platform should not be construed as such. In case of any concerns, you should seek independent professional advice from a qualified tax expert.
The provision of our services may involve the participation of Third-Party service providers. By engaging with our services, you may be subject to the terms and conditions of these third parties, and we may not be responsible for any loss that these parties may cause to you.
We strive to provide secure services, but it is not possible to eliminate all risks. It is your responsibility to safeguard your password, and you may be responsible for all the transactions under your account. Transactions involving cryptocurrencies are typically irreversible, and any losses resulting from fraudulent or unauthorized transactions may not be recoverable. In addition, inherent security risks in cryptocurrencies and their underlying technology include the potential for hacks, scams, theft, and vulnerabilities in the blockchain network that may expose users to financial losses or unauthorized access to their digital assets.
Effective communication is vital when engaging with our services; however, it is important to recognize that there are inherent risks associated with communication channels. While we strive to ensure the security and reliability of our communication systems, we cannot guarantee the confidentiality or uninterrupted availability of all communication methods. It is possible for communications to be subject to interception, unauthorized access, or disruptions due to technical issues, network failures, or other unforeseen circumstances. Additionally, there is a risk of phishing attempts or other fraudulent activities carried out through various communication channels, such as email, social media, or messaging platforms. We advise you to exercise caution when sharing sensitive information and to verify the authenticity of any communication claiming to be from our us.
The regulatory environment governing cryptocurrencies is constantly evolving and can undergo rapid changes. These changes in laws and regulations have the potential to impact the value and use of cryptocurrencies. It is important to note that this risk is unpredictable and can vary across jurisdictions. It is your responsibility to stay informed about the laws and regulations applicable to your specific circumstances and ensure compliance accordingly.