Risk Disclosure

• Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy
• User Agreement
• Disclosure Statement
• Explicit Consent Declaration
• Privacy Policy
• Cookie Policy
• Personal Data Protection Policy
• Risk Disclosure

FINNOVA Risk Disclosure

1. This Risk Disclosure is prepared by FINNOVA to inform the User about the risks related to investments made in accordance with the services provided, including cryptocurrencies as investment products and risks that may arise during the investment. The User should recognize and understand all these risks before starting cryptocurrency trading and make decisions considering their own financial situation. Definitions used in this Risk Disclosure are specified below.
2. FINNOVA: Refers to FINNOVA Kripto Varlık Alım Satım Platformu Anonim Şirketi, located at Barbaros Mah. Begonya Sk. Alive Tower No:7/15 Ataşehir/İstanbul.
3. Platform: Refers to the crypto asset trading system managed by FINNOVA, including the website at https://finnova.com.tr/ and its subdomains, all internet pages and applications served through the website, APIs, and the mobile applications offered on Android and iOS platforms, with all legal rights belonging to FINNOVA Kripto Varlık Alım Satım Platformu A.Ş.
4. User(s): Real or legal persons and their representatives who register as members, accept the User Agreement, privacy notifications, and consent declarations of FINNOVA Kripto Varlık Alım Satım Platformu A.Ş., and use the services on the https://finnova.com.tr/ website and platform.
5. Cryptocurrency: Virtual assets created based on blockchain technology that are decentralized, without any control mechanism, have unique structures, transferable between digital wallets, carrying the same value simultaneously everywhere, with prices determined and fluctuating in markets formed by buyers and sellers, and having no physical form with cryptographic features.
6. Cryptocurrency Wallet: A computer file holding cryptocurrency addresses and keys. Cryptocurrencies are transferred through wallets. There are two types: cold wallets (offline) and hot wallets (online). Hot wallets are digital wallets connected to the internet; cold wallets are used offline.
7. The User acknowledges, declares, and undertakes that they have read, understood, and accepted all risks stated in this Risk Disclosure before using FINNOVA’s platform and services. This Risk Disclosure is prepared to inform Users about risks associated with investments in cryptocurrencies through FINNOVA’s services. Users must understand all risks and decide according to their financial status before trading cryptocurrencies.
8. Cryptocurrency markets are decentralized by nature due to blockchain technology. Cryptocurrencies are virtual representations of value and not physically produced. Transfers and transactions of cryptocurrencies are conducted virtually.
9. Analyses, videos, news, research, prices, opinions, and other informational content on FINNOVA’s Platform or social media accounts do not constitute investment advice. FINNOVA is not responsible for losses resulting from transactions based on any recommendations, forecasts, or external information.
10. FINNOVA does not guarantee or commit to executing “Limit Orders” or “Stop Orders” placed by Users on the Platform. There is a risk that order types may not limit the User's loss or profit as expected.
11. FINNOVA does not provide any price or profit guarantees for cryptocurrencies traded on the Platform. Users independently determine cryptocurrency prices based on their strategies and mutual offers.
12. Cryptocurrency markets have highly variable liquidity levels. Volume and liquidity vary per cryptocurrency. Cryptocurrencies with lower volume and liquidity may experience more frequent price fluctuations.
13. If unlawful or suspicious activity is detected on a User’s account, FINNOVA reserves the right to take all legal actions, freeze the account, delete it temporarily or permanently, or terminate the contract with the User. FINNOVA may indefinitely ban Users with unlawful activities from opening new accounts. Usage of cash fiat or cryptocurrencies in the account can be blocked as a precaution. Users cannot make transfers or transactions if such measures are imposed. Users must avoid illegal activities and suspicious transactions; otherwise, they accept the associated risks. FINNOVA cooperates with authorized authorities by sharing User information upon legal requests.
14. FINNOVA does not guarantee continuous listing or trading of any cryptocurrency. Due to their technical nature, such guarantees are impossible. FINNOVA may delist any cryptocurrency at its discretion without prior notice, apply price caps or floors, and implement measures such as closing market orders, mandatory limit orders, and maximum order limits.
15. Using a system, connection, and hardware compatible with FINNOVA’s system is necessary for proper operation of User transactions. FINNOVA does not guarantee that any system or hardware used by the User is always compatible with its technical system. Ensuring technical compatibility is the User’s responsibility.
16. Cryptocurrency wallets are vulnerable to cyberattacks depending on their technical structure and security status. Any cyberattack may lead to theft or loss of cryptocurrencies held by the User. FINNOVA is not responsible for losses resulting from cyberattacks due to User error.
17. Cryptocurrency transfers are irreversible and cannot be annulled due to the technical nature of blockchain technology. The User is solely responsible for instructions regarding transfers and must verify transaction accuracy beforehand. Incorrect transfers due to wrong input are the User's responsibility. FINNOVA cannot intervene in blockchain transfers.
18. FINNOVA carefully reviews listed cryptocurrencies but their lack of regulatory oversight limits auditability. Users must assess risks, review the cryptocurrency's “Whitepaper,” and trade according to their discretion.
19. FINNOVA does not permit airdrop, fork, staking, lock-up, distribution processes, or voting rights associated with projects on its Platform. Only trading operations are allowed. Users accept these terms.
20. Users are solely responsible for all taxes arising from cryptocurrency trading, including withholding, reporting, and collection.
21. Risks include loss of value, regulatory restrictions, bans, network termination, negative publicity, withdrawal of network validators or developers, all of which pose risks to cryptocurrencies and their values.
22. Users acknowledge risks related to exchange rate fluctuations, potential regulatory sanctions on currency movements, and new taxes on currency transactions when trading stablecoins or currency-crypto pairs.
23. Users are responsible for securing their accounts, protecting passwords and access credentials, and should not share such information. Users should regularly check for security issues with their account access.
24. Users must research and fully understand blockchain and cryptocurrency risks before trading. Users should have sufficient resources and financial knowledge. Monitoring and understanding owned cryptocurrencies is crucial. Professional advice is recommended if in doubt.
25. Cryptocurrency prices are determined by supply and demand and can change rapidly. Users should be aware of sudden adverse changes in their holdings and market activities.
26. Users acknowledge risks from software, hardware, system, or internet connection errors, risks of third-party storage, cyberattacks on blockchain networks, malware, communication failures, performance issues, and other risks inherent to online trading systems.
27. If a cryptocurrency is delisted or becomes untradable, any related trade instructions are immediately canceled. Users acknowledge possible delays or invalidation of instructions due to system errors.
28. Cryptocurrencies in Turkey lack specific regulatory frameworks. Users trading cryptocurrencies are not covered by protections applicable to regulated investment services. Users are responsible for understanding legal frameworks, taxation, and regulation.
29. All cryptocurrency investments carry high volatility and risk and may not be suitable for all investors. Users must be aware of potential losses as well as gains.
30. Cryptocurrencies differ from fiat as they are not issued by any central bank or official entity, have no physical assets backing them, and have unique structures.
31. Cryptocurrencies are more volatile compared to traditional financial instruments, with significant value fluctuations in short periods.
32. Regulatory recognition does not imply that cryptocurrencies are accepted as secure financial instruments.
33. Transfers of cryptocurrencies are irreversible due to technology; incorrect transactions cannot be reversed or funds recovered.
34. Cryptocurrencies carry specific risks and may result in gains or losses.
35. No guarantees or commitments are made regarding prices on FINNOVA’s Platform.
36. Cryptocurrencies are stored digitally and are vulnerable to cyberattacks, technical failures, and other risks.
37. Cryptocurrencies are not subject to investor compensation under Capital Markets Law Article 82.
38. FINNOVA does not guarantee continuous availability of its Platform.
39. The risks described in this Risk Disclosure may not cover all possible risks related to trading, legal risks, liquidity risks, wallet risks, market risks, and application-related risks. It does not cover personal risk factors. Users acknowledge this and agree to trade accordingly. This text provides general information on risks related to cryptocurrency investments.
40. This Risk Disclosure is an annex and integral part of the FINNOVA User Agreement and Terms of Use. Users accept this text when registering. Reading and understanding this Risk Disclosure is accepted with User Agreement approval