WLD Payment Risks Disclosure
Last updated: December 2024
Important Warning
Cryptocurrency payments involve significant risks. Please read this entire document before using WLD on WorldFans.
1. Volatility Risk
WLD (Worldcoin) is a cryptocurrency whose value can fluctuate significantly. The value of WLD you receive or send today may be worth substantially more or less tomorrow. WorldFans does not control or guarantee the value of WLD.
2. Irreversible Transactions
All WLD transactions on WorldFans are processed on the Worldchain blockchain and are completely irreversible. Once you send WLD:
- It cannot be refunded
- It cannot be reversed
- It cannot be recovered if sent to the wrong address
- There are no chargebacks
Always verify transaction details before confirming.
3. Wallet Security
You are solely responsible for the security of your World App wallet. WorldFans:
- Does not have access to your private keys
- Cannot recover lost or stolen WLD
- Cannot access your wallet if you lose your credentials
Keep your recovery phrase secure and never share it with anyone.
4. Not Financial Advice
WorldFans is a social platform, not a financial institution. We do not:
- Provide investment advice
- Guarantee returns or earnings
- Act as a cryptocurrency exchange
- Hold custody of your assets
5. Regulatory Uncertainty
Cryptocurrency regulations vary by jurisdiction and are evolving. You are responsible for understanding and complying with the laws in your area regarding cryptocurrency usage.
6. Smart Contract Risk
WLD payments interact with smart contracts on Worldchain. While audited, smart contracts may contain bugs or vulnerabilities that could result in loss of funds.
7. Network Risks
Blockchain networks may experience:
- Congestion and delays
- High gas fees during peak times
- Temporary outages
- Protocol changes or forks
8. Tax Implications
Cryptocurrency transactions may be taxable in your jurisdiction. You are responsible for reporting and paying any applicable taxes. Consult a tax professional for guidance.
Acknowledgment
By using WLD payments on WorldFans, you acknowledge that you have read, understood, and accept all risks described in this document.
Only use WLD that you can afford to lose. Never invest more than you can afford.