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El Dorado informs the User of the following risks associated with the use of Virtual Assets:
a) High volatility and risk: Virtual Assets are highly volatile instruments. Their value may fluctuate sharply and unpredictably, potentially resulting in significant or total losses in short periods of time. The User must act with extreme caution when operating with these types of assets.
b) Lack of specific financial regulation: In many jurisdictions, Virtual Assets are not regulated as traditional financial instruments nor supervised by regulatory authorities. Unless they fall within specific legal definitions, they have not been reviewed or approved by official financial entities and may lack guarantees or legal protections similar to regulated products.
c) Not legal tender: In most countries where El Dorado’s service operates, Virtual Assets are not legal tender and are not backed by state authorities; their acceptance depends on agreement between the parties. Users should be aware that these assets are not protected or guaranteed by any government.
d) Irreversibility of transactions: Operations involving Virtual Assets are technically irreversible once confirmed by the corresponding network. Therefore, losses resulting from mistakes, accidental operations, or fraudulent activities may be definitive and irrecoverable. Please carefully read the provisions related to this topic in these Terms and Conditions.
e) Value based on market trust: Some Virtual Assets aim to maintain a stable value through reserves or backing mechanisms. However, their value still depends on market confidence in the issuer and its ability to maintain such parity. This confidence may be affected by external factors, potentially resulting in losses if the asset loses its reference value. Users must act with caution when dealing with these types of instruments.
f) Limited acceptance: Certain Virtual Assets may only be accepted on specific platforms or by particular Virtual Asset Service Providers, which limits their use or exchange in certain contexts.
g) Impact of future regulation: Legislative or regulatory changes may restrict, limit, or adversely affect the use, trading, holding, or value of Virtual Assets.
h) Transaction recording: A transaction involving Virtual Assets is only considered finalized when it is registered and confirmed on the corresponding network. The moment the User initiates a transaction may differ from the moment it is actually confirmed and executed.
i) Exposure to fraud and cyberattacks: The digital nature of Virtual Assets makes them susceptible to fraud, hacking, data theft, and other cybersecurity incidents that may compromise the User’s assets or information.
j) Technological dependency: Any technical failure, update, or disruption in El Dorado’s systems or those of third-party service providers may affect the User’s access to or availability of their Virtual Assets.
k) Loss of private keys: Virtual Assets can only be managed through private keys. In case of loss, theft, or misplacement of such keys, the User must follow the platform’s recovery process, which includes: 1) Having full access to the email registered on the account. 2) Receiving a verification code at the registered email address. 3) Changing the access password once the previous steps have been completed.
l) Risks associated with blockchain networks: The networks on which Virtual Assets are based may experience technical failures, congestion, forks, or cyberattacks that affect transaction processing or validation.
By registering on the Platform, the User acknowledges and agrees that El Dorado will not be liable for any loss, damage, or harm arising from the materialization of the risks associated with the use of Virtual Assets, except in cases of willful misconduct or gross negligence. Accordingly, the User waives any claims against El Dorado for such events, as registration on the platform implies acceptance of these terms.
Last modification: June 30, 2025
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