Please be aware of and acknowledge the following risks before using Indiya Coin. INC shall not beliable for any loss or damage arising from or in connection with any of the following risks.
Risk about Financial Value of INC itself
- INC is not issued as securities, financial instruments, or any other investment products under the Financial Instruments and Exchange Law, nor is it a cryptocurrency under the Payment Services Act, but a currency issued as one of the Payment Instruments for Own Business.
- Therefore, it is not guaranteed that it can be used for any purposes we haven’t specified, and it cannot be used for settlement between users.
- Further more, since INC is issued in accordance with the smart chain standard, it is possible to dispose of INC on certain external services that accept the smart chain standard, but we do not recommend or guarantee this.
- INC users are required to use external services under their own authority and responsibility.
Risk of Losing INC due to the Loss of Private Key
- Private key itself or a combination of private keys is required for the disposal of the users’ INC, and the management of the private key shall be under their own authority and responsibility.
- The loss of the private key associated with the wallet where the user’s INC is stored means the loss of the INC itself.
- Besides, loss of INC may be caused by phishing attacks, malware attacks, DoS attacks, consensus-based attacks, or other various types of attacks.
Risk associated with Smart Chain Protocol
- INC is based on Smart Chain protocol, any protocol malfunctions may cause serious effect to INC, and there might be some possibilities that INC cannot be used temporarily in such cases.
- Additionally, it requires transaction fees (gas fees) to use INC and transfer money on the Smart Chain network, but the fees might sky rocket because of the cause we are not related to, like the congestion of Smart Chain network.
Risk of Change in Laws and Regulations, Risk of Taxation
- INC is subject to future changes in laws, ordinances, guidelines, and other regulation or taxation systems related to INC. In addition, users shall make decisions as regards the necessity of filing tax returns and other taxation related INC under their own authority and responsibility.
Relationships between Users
- Any transactions, communications, disputes, etc., that arise between users and other users or third parties
in connection with our website shall be handled and resolved under the users’ own responsibility, and we
shall not be responsible for such matters.