Risk Disclosure
Please read before using the service. Bitcoin is a digital asset with no guaranteed value. Its price can rise or fall sharply and you can lose some or all of what you hold.
- Transactions are generally irreversible. A payment sent to the wrong person usually cannot be recovered. There are no chargebacks through Meritwave.
- The Lightning Network may fail to route a payment, channels may close, nodes may be offline, and network fees may apply. Funds in a channel can be at risk if a node or channel closes badly.
- Channels from your Client Node to our routing nodes are for paying merchants, not for receiving money. You must arrange your own inbound liquidity to receive.
- Client Node: we hold the keys to the Lightning node we host for you, so we are responsible for keeping them safe, as the Terms of Service say. That does not make payments risk-free: network failures, delays, channel closures and outages are not our responsibility. [COUNSEL: reconcile with the Terms, section 13.]
- If you hold your own keys (Autonomous Node) and lose them, no one can recover your funds, including us.
- Digital assets are not bank deposits and are not insured by the FDIC or any government. [COUNSEL: whether any insurance exists; if none, say so.]
- Digital assets are not legal tender in Illinois or the United States. Illinois has not endorsed any digital asset or reviewed this disclosure.
- Fees: our fees are shown before you confirm, with how they are calculated. [FEE DISCLOSURE FROM SETTINGS]
- Errors and unauthorized transfers: tell us at once at [email protected]. Your liability and our error-resolution process are [DESCRIBE - COUNSEL].
- Service history: the service may have been unavailable or limited at times. [DOWNTIME HISTORY - DEV TO SUPPLY].
- Laws and taxes on digital assets are changing. You are responsible for your own tax reporting.
By using the service you confirm you understand these risks. We do not give financial, investment, tax or legal advice.