Effective Date: 01 January 2025
Version: 1.0
This Risk Disclosure Statement (“Disclosure”) outlines the material risks associated with using the services offered by Duzo, a platform operated by Zen Capital (Pty) Ltd, an authorised Financial Services Provider (FSP No. 54453).
By using Duzo, you acknowledge that you understand and accept the risks described below. This Disclosure is intended to help you make informed decisions but does not cover every possible risk. You are responsible for assessing whether Duzo’s services are suitable for your financial situation and risk appetite.
1.1 “Crypto” or “Cryptocurrency” means blockchain-based digital assets supported by Duzo.
1.2 “Fiat” means government-issued currency such as South African Rand (ZAR).
1.3 “Liquidity” means the ability to buy or sell assets without affecting the market price.
1.4 “Pooled Wallet” refers to a custody mechanism where multiple users’ crypto assets are stored collectively.
1.5 “Smart Contract” means blockchain-based code that executes automatically when certain conditions are met.
1.6 “You” or “User” means any person using the Duzo platform.
1.7 “We”, “Us”, or “Duzo” refers to Zen Capital (Pty) Ltd and the platform it operates.
2.1 Cryptocurrencies are highly volatile. Their prices may change rapidly and without warning.
2.2 Your crypto holdings may lose significant value in a short period.
2.3 Duzo does not guarantee future prices or returns. You acknowledge that trading or holding crypto involves a risk of loss.
3.1 The legal and regulatory status of cryptocurrencies is evolving in many jurisdictions.
3.2 Future regulations may impact your ability to use Duzo’s services or the legality of certain assets.
3.3 Duzo operates under South African law and may restrict or suspend services to comply with regulatory requirements.
4.1 Duzo relies on technology infrastructure that may be vulnerable to interruptions. Risks include:
4.2 While Duzo implements strong security measures, we cannot guarantee complete immunity from operational disruptions.
5.1 Crypto held with Duzo is stored in pooled wallets. You do not have access to private keys.
5.2 Duzo maintains industry-standard controls, including encryption and key management.
5.3 Despite these efforts, there is still a risk of theft, loss, or compromise due to unforeseen security failures.
6.1 Duzo relies on partner banks, payment processors, and liquidity providers to settle fiat transactions.
6.2 Delays, rejections, or service outages from these third parties may affect your ability to withdraw or convert funds.
6.3 Duzo cannot control or guarantee third-party performance.
7.1 Blockchain transactions are irreversible.
7.2 If you send funds to the wrong wallet address or network, Duzo cannot retrieve the funds.
7.3 You are solely responsible for verifying all recipient details and payment instructions before submission.
8.1 Some cryptocurrencies may experience low trading volume or thin order books.
8.2 This may result in price slippage during conversions or delay your ability to execute withdrawals.
8.3 Duzo may suspend certain conversions temporarily during market stress or illiquidity events.
9.1 Duzo may restrict or suspend your account access under the following conditions:
9.2 You may not be notified prior to restriction if such notification would violate FICA or other legal requirements.
10.1 You are responsible for understanding and complying with all tax obligations relating to your crypto activity.
10.2 Duzo does not provide tax advice. Please consult a qualified tax professional.
10.3 Tax liabilities may arise from trading, holding, converting, or withdrawing crypto.
11.1 Duzo provides its services on an “as-is” and “as-available” basis.
11.2 We do not warrant the future performance, value, or availability of any crypto asset.
11.3 By using our platform, you agree not to hold Duzo liable for any direct or indirect loss incurred.
Cryptocurrencies and crypto-related services carry substantial risk and may not be suitable for all users. By continuing to use the Duzo platform, you confirm that:
If you are uncertain about any risks, you should refrain from using Duzo’s services until you have obtained appropriate professional guidance.
