Crypto Risk Disclosure

Accepting or holding cryptocurrency carries risks that are different from cards or bank transfers. Please read this page before you use Cryptomo. It is general information only, not financial, legal or tax advice, and it does not take your circumstances into account.

1. Crypto is not money in the bank

• Cryptocurrencies are not legal tender in Australia and are not issued or guaranteed by any government or the Reserve Bank of Australia.
• Balances held with Cryptomo are not bank deposits and are not protected by the Australian Government's Financial Claims Scheme. They do not earn interest.

2. Prices can move quickly

• Cryptocurrency prices can rise or fall sharply within minutes. We lock the exchange rate only for the invoice lifetime shown at checkout.
• A balance is kept in the coin you received, so its value in Australian dollars keeps changing until you withdraw and convert it elsewhere.
• Stablecoins such as USDT and USDC aim to track the US dollar but can lose that link. Their issuers can freeze tokens at particular addresses.

3. Payments cannot be reversed

• A blockchain payment cannot be cancelled or charged back once it is sent.
• Coins sent to a wrong address, on the wrong network, in the wrong coin or without a required memo or tag may be lost permanently.
• Refunds can only be made by sending a new payment, which costs a network fee.

4. Blockchain networks can have problems

Networks can become congested or expensive, stop for a while, split into two versions ("forks") or have bugs in smart contracts. Payments may be delayed or need more confirmations, and in rare cases a confirmed payment can be reversed by the network.

5. Custody risk (balance mode)

In balance mode the coins behind your balance are kept in wallets we control. Although we protect them, a security breach, operational error or our business failing could delay or reduce what you get back. Withdraw regularly and do not keep more in your balance than you need. In own-wallet mode payments go straight to your wallets, so this risk does not apply, but you alone are responsible for your private keys: if you lose them, nobody can recover the funds.

6. Laws can change

Laws about crypto in Australia and other countries are changing. New rules may require us to change, limit or stop parts of the service, collect more information from you, or may affect your own business.

7. Tax

The Australian Taxation Office treats cryptocurrency as property, not foreign currency. If your business receives crypto for goods or services, the Australian dollar value at the time you receive it is generally part of your ordinary income, and later disposals can have capital gains tax consequences. GST can apply to your sales in the usual way. Keep records of every payment and talk to a registered tax agent.

8. Scams

• We will never ask for your password, two-factor codes, private keys or seed phrase, and we will never ask you to send crypto to "unlock" or "verify" an account.
• Check that you are on https://cryptomo.net before signing in.
• Be careful with anyone promising guaranteed returns. Learn more at Moneysmart (moneysmart.gov.au) and report scams to Scamwatch (scamwatch.gov.au).

9. Questions

Email uniquehunter98@gmail.com.