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Local Restrictions

You may be visiting us from an IP address that is not located in Lithuania. Registering and visiting our homepage may contain information about financial services and products that could be viewed by regulatory authorities in other countries as a targeted offer of banking and financial services.

By entering, you confirm that you have read and understood the legal notice regarding local restrictions and that you are visiting the Lithuania-based website on your own initiative and are not in any way influenced by Wickie or from UAB GreatIdee.

Cryptocurrency services are supported by Wickie. Wickie is a trading name of UAB GreatIdee, a company registered in Lithuania. Registered address Gedimino ave. 44A – 201, Vilnius, 01110, Lithuania. Company code. 306146627.

UAB GreatIdee is registered in the Register of Legal Entities of Lithuania for the provision of cryptocurrency services.

Wickie’s cryptocurrency services are controlled by the Lithuanian FCIS.

risk statement

By using the Services via the Platform you may be exposed to certain risks which are explained in this Risk Statement (hereinafter - the "Statement"). The Statement is directly related to the Terms of Service (hereinafter - the "Agreement") of "GreatIdee" UAB, a virtual currency exchange and depository virtual currency wallet service provider, supervised by the Financial Crime Investigation Service of Lithuania, incorporated under the laws of Lithuania (referenced herein as “us”, “our” or “we”). This Statement and other related documents form an integral part of the Agreement, together constituting one document, which is legally binding to you. Please read this document carefully.

1. This Statement offers information regarding the risks associated with our Services, which may be provided either by us or our partners. It shall be noted that these Services involve a significant degree of risk and may not be suitable for every individual, whether they are a legal entity or a natural person.

2. This Statement is aimed to provide general information regarding the risks associated with the Services and the use of them. However, it is not intended to provide an exhaustive disclosure of all the risks associated with using the Services and there may be additional risk factors that are not disclosed in this Statement because they are either unknown or considered insignificant at the time of publication. Additionally, this information does not address how these risks may relate to the personal circumstances, financial status, or risk tolerance of an individual. It should not be construed as a definitive evaluation of the risks associated with the Services, therefore, the decision to use our Services should not be made solely on the basis of the following risk factors.

3. The following risks shall be considered when using our Services:

  • 3.1. Digital Currencies risks. Digital currencies are backed by technology and trust. Digital currencies are decentralized and unregulated. They neither have a centralized issuer, nor an institution in control of its supply, value or turnover. They are generally not legal tender and are not backed by governments. The circulation and trading of digital currencies on the market depends on the consensus on its value between the relevant market participants. Digital currencies are primarily used by speculators and are used relatively less on retail and commercial markets;
  • 3.2. Market Fluctuation Risk. We cannot and do not guarantee the value of digital currencies or digital assets. You acknowledge and agree that the value of digital currencies or digital assets is highly volatile and that buying, selling, and holding digital currencies or digital assets involves a high risk. In addition, the digital currencies or digital assets network being used is solely responsible for verifying and confirming proposed transactions that you submit via the Services, and we cannot confirm, cancel, or reverse digital currencies-to-digital currencies transactions. However, we are responsible for confirmation of digital assets network's completion of a transaction. A digital currencies network is operated by a decentralised network of independent third parties of which we have no influence over. Once a transaction request is submitted to digital currencies network via the Services, thisnetwork will automatically complete or reject the request and you will not be able to cancel or modify transaction request in progress. You acknowledge and agree we are not responsible for any errors or omissions that you make in connection with any digital currencies’ transaction initiated via the Services. The Services help you submit your digital currencies transaction request for confirmation to the digital currencies network. You acknowledge and agree that the transaction requests you submit via the Services may not be completed, or may be substantially delayed by the digital currencies network. When you complete a transaction request via the Services, you authorise us to submit your transaction request to the digital currencies network in accordance with the instructions you provide via the Services;
  • 3.3. Internet and Digital Currency Protocol Risk. There are inherent defects in electronic distribution and data transmission over the internet which may result in delays, omissions, transmission blackouts, interruptions, breaches of security, corruption, unavailability of access in connection with the Services. We do not own or control the underlying software protocols which govern the operation of digital assets / digital currencies supported on the Platform. Generally, the underlying protocols are ‘open source’ and anyone can use, copy, modify, and distribute them. We are not able to guarantee the functionality or security of network operations. You acknowledge and accept the risk that underlying software protocols relating to any digital currency you receive by generating request may change. Any malfunction, failure, mistake, error, breach, breakdown, forking, abandonment, unintended function, unexpected functioning of or attack on any blockchain or protocol used may cause Services to malfunction or function in an unexpected or unintended manner and may have a material adverse effect on your receiving payment in digital currencies;
  • 3.4. IT Security Risk. The Services and digital currencies rely on blockchain technologies and protocols that are subject to cybersecurity risks, including the risk of cyber-attacks, malicious software, and other computer viruses that may have destructive features, such as computer worms, Trojan horses, or spyware;
  • 3.5. Payment Rejection Risk. There is a risk that digital assets related payment may be rejected due to non-compliance with AML regulations and / or our compliance requirements. Accordingly, such digital assets related payment would be sent back to initial payer by deducting all transaction fees. Notably, the fees, applicable to reversible transaction, may substantially differ from the fees, applicable for incoming payment;
  • 3.6. Price and Liquidity Risk. The market for digital assets (i.e., digital currencies etc.) has varying degrees of liquidity and a history of extreme volatility in terms of both price and liquidity. There is never a guarantee that the market will be liquid. We do not guarantee any market liquidity or value for any digital currency in the future;
  • 3.7. Safety and Fraud Risk. Digital assets and digital currencies, including, but not limited to, services associated with them, are prone to being misused for illegal activities by bad actors due to the anonymity of transactions and you would be adversely affected if law enforcement agencies investigate any alleged illicit activities. You understand and accept that hackers or other groups or organizations may attempt to steal your digital assets or otherwise attack, interrupt or cease our business or usage of your digital assets;
  • 3.8. Third Party / Counterparty Risk. Some of the Services may be provided via third parties. There is a risk that relations with third parties and other partners may break which could result in disruption in the Services continuity. Moreover, such third parties may lose your funds or digital currencies, may become insolvent, may suffer security or contractual breaches and may not provide any legal protection in regards to your funds or digital currencies. We shall not be liable to any extent for the inaction, damages or other losses that you may incur due to reasons related to the third parties;
  • 3.9. Legal and Regulatory Risk. Digital assets as well as digital currencies are unregulated and cannot be considered as official government backed currency or asset. The legal status of digital assets and digital currencies is uncertain and undefined, and is subject of change under different jurisdictions. Certain jurisdictions, including, but not limited to, your and our jurisdiction, may apply existing regulations on or introduce new regulations addressing digital assets or digital currencies and/or the Services, which may result in substantial modifications of the Services, including potential loss of your digital assets or digital currencies and their value. Furthermore, such jurisdictions may make it illegal to operate in such jurisdiction and/or use digital assets and / or digital currencies or make it commercially undesirable to obtain the necessary regulatory approvals to operate in such jurisdictions;
  • 3.10. Market Risk. The market of digital assets is decentralized, unregulated, new, unconfirmedand uncertain. The market is determined by demand and supply only. It will not necessarily expand or evolve. Moreover, it may abruptly cease to exist. Therefore, there is never a guarantee that there will be an active market for you to sell, buy, trade or perform other transactions with digital assets. The market information relating to the past performance of Virtual Currency transactions is not necessarily a guide to its performance in the future;
  • 3.11. Business Continuity Risk. You acknowledge that our Services, as developed, may not meet your expectations. It is possible that the Services or your digital assets will cease to be used by a large number of subjects (either natural or legal) and that there will be limited public interest in the creation and development of additional functionalities. The Internet industry is comprised of a number of participants and is subject to rapid change and competition we face from other organisations, some of which may have greater resources, whether financial, technical or marketing. Increased competition could result in under-utilisation of employees, reduced operating margins and loss of market share. You acknowledge that the Services or any part of the Services may never be fully developed, completed or released to meet your individual expectations;
  • 3.12. Other Risks. There may be other risk factors (other than those mentioned above) independent of us that may have a negative impact on the overall provision of Service.

4. It shall be noted the above list does not identify risks additionally associated with the usage of a third party’s websites / platforms or services. Therefore, it is your responsibility to carefully familiarize with such before starting to use any of services, content or products of a third party.

5. As part of your assessment of the suitability of the Services, you acknowledge and agree to conduct your own research and carefully evaluate each of the risk factors outlined in this Statement, as well as all other information provided in the Agreement, including any related documents. By using the Services, you confirm that you fully comprehend and assume all potential risks that may directly or indirectly result from your use of the Services.