Staking Risk Acknowledgement

Prior to staking your crypto assets, you acknowledge that:

  • you agree to be subject to an addendum to the terms and conditions of use of Bitbuy’s platform;
  • (i) staked Polkadot tokens (DOT) generally begin to start earning rewards after one era; (ii) staked DOT may only be withdrawn after a 28-day unbonding period; and (iii) an era is approximately 24 hours long;
  • given the volatility of crypto assets, the value of your staked DOT when you sell or withdraw it, and the value of any rewards you earn through staking, may be significantly less than their current value;  
  • (i) Bitbuy’s custodian, BitGo, will be entitled to a fee in respect of rewards earned on your staked DOT and may pay a portion of that fee to any third-party service provider it selects to act as validator; (ii) any remaining portion of the rewards (the “Net Rewards”) will be delivered to one of Bitbuy’s custodial wallets with BitGo; (iii) Bitbuy will be entitled to a fee of 30% in respect of the Net Rewards (the “Bitbuy Service Fee”); and (iv) after the Bitbuy Service Fee has been paid, your account will be credited with any remaining portion of the rewards, and, subject to any unbonding or lock-up period, you will be able to hold, sell or withdraw your rewards;
  • there is no guarantee that you will receive any rewards on staked DOT;  
  • past rewards are not indicative of expected future rewards;
  • the rewards you are entitled to may be changed at the discretion of Bitbuy;
  • you may lose all or a portion of your staked DOT if the validator does not perform as required by the network; and
  • additional risks can be found in the Risk Statement and the crypto asset statement for DOT, including the names and other information regarding the validators and information regarding lock-up periods and rewards.