Definitions

In addition to the terms defined elsewhere in this Policy, the terms listed below shall have the meaning ascribed to each of them:

“Applications”: artefacts consisting of Software and Content that Users use on their devices and that enable Users to use the Services on certain configurations of certain devices.

“User Area“: is the environment where the User may consult the Resources functional to the provision of the Services. This User Area is accessible exclusively by the User using the Access Codes.

“Access Codes” or “Credentials”: the username and password that are assigned to the User when the User joins the Registration Service and that are managed by Young Platform or, if the User uses Third Party Access Codes, by the third party that provides them.

“Fees and Prices“: shall mean the fees due to Young Platform for the services provided through the platform charged to the User, in the form of commissions determined on the terms and in the manner set out in the document, which forms an integral and substantive part of these Terms and Conditions, available in the relevant “Fees and Prices” section of the Website at: youngplatform.com/en/legal/fees .

“Cryptocurrencies” or “Tokens”: means “Virtual Currencies” as defined in Art. 3(18) of Directive (EU) 2015/849, as amended by Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 i.e. the digital representation of value, not issued by a central bank or a public authority, not necessarily linked to a legal tender, not having the legal status of currency or money, but nevertheless used as a medium of exchange for the purchase of goods and services and transferred, stored and traded electronically, relying on blockchain technology. The Cryptocurrencies that can be purchased, sold or converted on the platform are exclusively those supported by the platform and communicated to the User by Young Platform in a dedicated section of the Site (which is constantly updated with the inclusion of new Cryptocurrencies and the deletion of those no longer traded) available at: youngplatform.com/en/legal/fees .

“Authorised Distributor(s)“: identifies the entities authorised to distribute all or part of the Services provided by Young Platform. Some of the features related to the Services accessible through an Authorised Distributor may be limited and/or not made available. The list of Authorised Distributors is available at the following link: https://youngplatform.com/en/legal/authorised-distributors/. Only Distributors on the list are validly authorised by Young Platform. 

“Order” means the instruction entered into the platform, by the User, relating to dispositive transactions for the purchase, sale or exchange of Fiat Currencies or Cryptocurrencies.

“Wallet”: means the wallet present in the Young Platform Application and belonging to each registered User, as it is associated with his/her User Area. Such Wallet is necessary for the use of the Services and specifically for the custody of Cryptocurrencies.

“Privacy Policy“: privacy policy that the User approves before using the Services involving the processing of his/her personal data.

“Registration“: is the registration process that the User must carry out in order to access the Services and the User Area. This process is analytically described in the General Terms and Conditions – Young Platform Exchange, to which express reference is made and which can be consulted at the following link https://youngplatform.com/en/legal/terms-conditions-young-platform/#4.

“Services”: shall mean the services provided remotely to the User by Young Platform, i.e. usable through the platform, consisting in the execution of buy or sell orders given by the User and relating to cryptocurrencies or legal tender currencies, in the manner indicated on the Exchange.

“Sites”: shall mean the Company-owned site located at youngplatform.com and all related sub-domains, including Academy, basic platform and Pro platform, regardless.

“Tools”: identifies specific services that the User may access only after having previously signed the appropriate terms and conditions. Failure to use and/or accept the terms and conditions of each tool does not affect the possibility of using the basic services. 

“User(s)“: refers cumulatively and indifferently to: (i) all individuals who navigate on the Sites and/or who in any case navigate on the Platforms, regardless of whether they are registered or not; and also (ii) any natural person and/or legal entity, registered on the Young Platform Application, who uses the Services via the Platforms. It is understood that as far as natural persons are concerned, the latter must be not less than 18 years of age in order to register on the Platforms and/or use the Services.

“FIAT currencies“: currencies that are legal tender and have the legal status of currency, i.e. inconvertible paper money, generally accepted as a means of payment because it is declared legal tender by the issuing state, regardless of its intrinsic value.

“YNG” or “Young Token“: a utility token issued by the Company on the terms provided for and indicated by it within the appropriate sections available on the Platforms.

“Young Platform” or “Company” or “Young”: shall mean Young Platform S.p.A., with registered office in Via Francesco Cigna n.96/17, Turin (TO), postcode 10155 P. IVA. 11931440017, in the person of its legal representative pro tempore.

Subject

This Policy sets out in a general manner the risks that are associated with the use of the Services and Tools offered by Young Platform and the use of the related Applications (the “Risks“).

The above description is not exhaustive, but reflects the most common cases and modes of Risk. Therefore, before accessing and using the Young Platform Services and/or Tools, you are advised to inform yourself about the extent of the Risks related to your specific position in light of your circumstances and financial resources, possibly consulting a financial, legal or tax advisor.

Warnings and features of Young Platform 

Young Platform is not registered as a financial, legal, investment or tax advisor, nor as an intermediary, broker or agent. 

Therefore Young Platform in offering its Services and Tools:

• does not establish any fiduciary relationship with Users;
• does not carry out any control activities aimed at verifying that the use of its Services and/or Tools by Users is consistent with the latter’s financial condition or objectives;
• does not provide any financial, investment, or trading advice. In fact, information and communications that Young Platform disseminates through its Sites and/or other communication channels are not to be considered as such.

In accordance with the Terms and Conditions available on the Site at the following link https://youngplatform.com/en/legal/, all transactions, unless otherwise provided for, are executed automatically on the basis of the instructions and parameters indicated by the User. These instructions and parameters will determine whether a transaction will be successfully completed or not, making the User solely responsible for any losses. 

Therefore, each User is advised to consult a financial, legal or tax advisor and to carry out all the necessary checks concerning his/her financial situation before placing any Order via the Young Platform Applications.

Taxation

As Young Platform is not registered as a legal or tax advisor, it is under no obligation to indicate to which taxes, in connection with the use of the Services and/or Tools offered, Users are subject (who remain solely responsible for the determination and payment of such taxes), nor to provide legal or tax advice in this respect.

The User is informed that, where expressly required by law, Young Platform in the manner provided for by applicable national and supranational legislation: 

• may communicate all information relating to the operations carried out by the User to the competent authorities (in particular the regulatory and tax authorities);
• may withhold the relevant taxes;
• may request additional documentation (such as, but not limited to, certificates and tax information), which the User shall deliver within the prescribed time limit, failing which Young Platform shall withhold taxes to be paid to the tax authorities in accordance with the relevant law.

Trading Risks

You acknowledge and agree that you access and use the Services at your own risk. 

The risk of loss in the trading of Cryptocurrencies (including Young Tokens) and/or FIAT Currencies can be substantial. You should therefore carefully consider whether such trading is suitable for your position, in light of your circumstances and financial resources, possibly consulting a financial, legal or tax advisor. 

The User must also be aware of the following points:

• it is possible to suffer a total loss of availability on one’s Wallet.

Therefore, Users are invited to always monitor their Wallet;

• under certain market conditions, it may be difficult or impossible to execute an Order. This may occur, for example, when there is insufficient liquidity (“Liquidity Risk“) in the market or in the order book (“Order book“) of the platform, a situation that may occur at any time even during periods of high volatility.

Furthermore, the User is reminded that depending on the market, there is a minimum limit for the purchase and sale of cryptocurrencies (“Minimum Order“) which can be found at the following link https://exchange.youngplatform.com/fees, which the User must comply with in order to successfully complete the Order;

• the placement of contingent Orders, such as “Stop-loss” or “Stop-limit” Orders (defined in detail at the following link https://support.youngplatform.com/hc/en-us/sections/360005550599) will not necessarily limit the User’s losses to the expected amounts according to the exchange rate indicated by the User as a parameter in the Order, as market conditions may make it impossible to execute the Order;
• All cryptocurrency transactions involve risk, and a ‘Market’ position cannot be less risky than a ‘Long’ or ‘Short’ position.

In general, there are risks that are related to the nature of cryptocurrencies and the technologies underlying them, such as:

• obsolescence; 
• delays in finalising and completing an operation, also due to connection and system problems; 
• unforeseen circumstances, failures, flaws, exploits, protocol errors, or attacks on the protocol and technologies on which a Cryptocurrency depends (including but not limited to: sybil attacks, social engineering, distributed denial of service, phishing, hacking, malware, smurfing, double-spending, majority-mining, consensus-based or other mining attacks, disinformation campaigns, forking and spoofing).
• The cryptocurrency market is characterised by high risk and price volatility. This implies possible significant price changes that can occur at any time, abruptly and unpredictably, even on the basis of past performance (“Market Risks and Volatility“). Such price fluctuations can have a strong impact on the results of Users’ transactions in terms of loss and gain.

If a situation of high volatility arises, the ‘Accumulation Plan’ service should be discontinued. 

In any case, the User is invited to always monitor the market, which is constantly open 24 (twenty-four) hours a day, 7 (seven) days a week;

• Young Platform does not guarantee that its Services and Tools will always be available and never subject to unplanned interruptions or blockages due to network congestion. 

Therefore, it may not always be possible to conclude an Order when desired (‘Availability Risk‘).

The same applies to electronic communication with Young Platform, which may not always be successful, may be delayed, may not be secure or may never reach its destination (‘Communication Risks‘);

• In providing its Services and Tools, Young Platform may involve third parties (such as but not limited to: partners, including banking partners, payment providers or custodians), whose specific terms and conditions may apply to the User. Therefore, the User is kindly requested to inquire about this by making the appropriate checks, knowing that Young Platform is not liable for any losses suffered by the User due to the aforementioned third parties (“Third Party Risks“);
• As the Applications, Sites, Tools and Services offered by Young Platform involve delicate operations, with the use of the User’s personal and financial data, the Company is committed to ensure the highest degree of security of the same, not only from a technological point of view, but also from a legal point of view with the correct application of its Privacy Policy (in line with the national and supranational regulations – GDPR – in force). However, it is impossible for Young Platform to guarantee a Service completely free of risks, including those concerning security (“Security Risks“). 

The User is, therefore, obliged to maintain the secrecy and security of his Access Codes and Credentials, for which he/she is responsible. In fact, the User will be responsible for all operations carried out on his/her User Area and Wallet, regardless of whether he/she has personally authorised them or not. 

Since cryptocurrency transactions are executed automatically and are in fact irreversible, losses resulting from fraudulent transactions or transactions not personally authorised by the user may no longer be recoverable.

Therefore, Users are invited to always monitor their Wallet;

• As cryptocurrencies are a constantly evolving sector, this also implies continuous regulation of the same, and thus as many legislative changes that can have a strong impact, even unpredictable and uneven depending on the reference market, on the value of cryptocurrencies (‘Legal Risk‘).

Therefore, the User is always invited to monitor each relevant market.

• in no way shall Young Platform be liable to the User for any loss and/or other damages, except in cases of fraud. In any case, should Young Platform be held liable, such liability shall not exceed the value of the FIAT Currencies or Cryptocurrencies deposited by the User on his/her Wallet, so that any damage suffered by the User is limited to a value not exceeding the value corresponding to the amount of the deposits on the Wallet, and therefore net of the transactions executed. 

Fees and Prices

The Users, through the Applications and the Sites, may proceed with the purchase of the Services and Tools offered by Young Platform, proceeding directly to the payment of the same at the time of the Order through the methods indicated, accepted and published within the Applications and the Sites.

Young Platform is unquestionably entitled to set or vary, unilaterally and at its sole discretion, the Fees and Prices by posting them in the relevant section on the Applications and Sites. The User acknowledges that the Fees and Prices may be determined by Young Platform either as a fixed amount or as a percentage in relation to the amount of the individual Order or transaction executed. 

The type and extent of the Fees and Prices, unless access is made through Authorised Distributors (in which case the Fees and Prices will be available on the appropriate channels of the Authorised Distributors), are set out in the document available at the following link: 

https://exchange.youngplatform.com/fees

It is understood that Fees and Prices may be subject to customisations (which can always be consulted on the information channels of the Authorised Distributor of reference) if access is made through Authorised Distributors.

Communications

Communications to Young Platform should be sent to the following address: [email protected]. 

It is understood that in the event that the User logs in through Authorised Distributors, this process may change and, in such a case, information on the Support modalities will always be available on the appropriate channels of the Authorised Distributor.

Communications to the User are made to the e-mail address provided by the User to Young Platform during the Registration process. 

Young reserves the right in all cases to send communications to the User by other means. 

Young may change the contact details at which it intends to receive communications relating to the Policy at any time, after notifying the User. 

You may in turn change the email address at which you receive communications from Young Platform by following the procedures set out on the Applications and Sites. 

Changes to the Policy

This Policy may be amended and/or updated at any time. 

If Young Platform intends to change and/or update this policy, it agrees to notify Users of such changes. It is understood that any changes may not apply and/or apply differently when access is made through Authorised Distributors.

This Policy was published on 30 March 2023. Any updates will be published on this page.