Risk Disclosure

This draft disclosure summarises the principal risks of using a digital asset exchange service. It is intended to help you decide whether the service is appropriate for you, and it does not replace independent advice.

KingXchange is not currently executing conversions, so no customer is exposed to these risks through us today. They will apply once the service opens.

Digital asset prices can move sharply and without warning. A rate quoted at one moment may not be available a few minutes later, and the value of an asset you receive can fall after the conversion completes.

USDT is issued by Tether, not by KingXchange. It is designed to track the value of one US dollar, but it is not a bank deposit and can trade below that intended value. The issuer's reserves, redemption arrangements and regulatory treatment are outside our control.

Digital assets are generally not covered by deposit protection or investor compensation schemes. In Nigeria, bank deposit insurance administered by the NDIC does not extend to digital assets; in the United Kingdom, the Financial Services Compensation Scheme does not apply; EU deposit guarantee schemes do not apply either.

If a digital asset loses value, there is no scheme that will reimburse you.

Once USDT is sent to a wallet address, the transfer cannot be reversed. A wrong or incompatible address, or a wallet you do not control, can result in permanent loss. Always check the address you provide before a transaction is confirmed.

Payments and digital asset settlement will be carried out by third-party providers. A provider may experience an outage, impose limits, delay settlement, or fail altogether. Your transaction depends on that provider performing.

Bank transfers can be delayed, returned or recalled, and name mismatches can cause a payment to be held. If a payment is not matched to the correct transaction reference, the conversion will not complete until it is resolved.

Never send funds to account details you have not received through the platform for a specific transaction.

The rules applying to digital assets are changing in Nigeria, the United Kingdom and the European Union, and may change in other countries. New requirements can affect whether a service can be offered, how quickly it operates, or the information you must provide.

KingXchange may have to suspend a service, restrict a corridor, or change its process to comply with those requirements.

A conversion depends on the rate being available at the moment it is executed. A quote may expire while you are paying. Platform outages, connectivity failures or compromised credentials can also prevent you from acting.

Nothing on this site is investment, legal, tax or accounting advice, and no communication from us should be treated as a recommendation to convert currency or hold any digital asset. Seek independent professional advice where appropriate.