Investing with Bitcoin

 

Bank Negara's Statement on Bitcoin

“The Bitcoin is not recognised as legal tender in Malaysia. The Central Bank does not regulate the operations of Bitcoin. The public is therefore advised to be cautious of the risks associated with the usage of such digital currency.”

Both Investors and Issuers registered on Ata Plus platform are advised to use Bitcoin as an investment instrument at their own risk.

Bitcoin is a new technology that often works differently to your prior experience. It therefore entails various risk that you should understand. Here are some of the risks involved with investing with Bitcoin.

Investor Risk Disclaimer

Investors registered on Ata Plus platform are advised to use Bitcoin as an investment instrument at their own risk.

Bitcoin Price Fluctuations

The investor accepts the risk using of bitcoin as a medium of investment, and accepts the spot exchange price at the time of investment request. The investor accepts the Bitcoin fluctuation risk throughout the 6-day cooling off period and until the fundraising period ends.

Acceptance of Bitcoin Spot Exchange Price

Equity value in exchange for Bitcoin will be locked in at the time of request, based on the Spot Exchange Price. Throughout the fundraising period, the value of Bitcoin may fluctuate. This fluctuation does not affect the amount of equity that the investor get in exchange for bitcoin as the value is already locked-in at the time of Investment Request.

Losing Private Keys

IF THE INVESTOR LOSE ACCESS TO HIS/HER ENCRYPTED PRIVATE KEYS AND THE INVESTOR HAS NOT SEPARATELY STORED A BACKUP OF HIS/HER WALLET AND CORRESPONDING PASSWORD, THE INVESTOR ACKNOWLEDGES AND AGREES THAT ANY BITCOIN HE/SHE HAS ASSOCIATED WITH THE TRANSACTION ACCOUNT (Multi-Signature Master Public Extended Key) WILL BECOME INACCESSIBLE.

Issuer Risk Disclaimer

Issuers registered on Ata Plus platform are advised to use Bitcoin as an investment instrument at their own risk.

Bitcoin Price Fluctuations

The Issuer accepts the risk using of bitcoin as a medium of investment, and accepts the spot exchange price at the time of investment request. The Issuer accepts the Bitcoin fluctuation risk throughout the 6-day cooling off period and until the fundraising period ends.

Acceptance of Bitcoin Spot Exchange Price

Equity value in exchange for Bitcoin will be locked in at the time of request, based on the Spot Exchange Price. Throughout the fundraising period, the value of Bitcoin may fluctuate. This fluctuation does not affect the amount of equity that the issuer must transfer in return for the spot exchange value of Bitcoin to Ringgit Malaysia, as  the value is already locked-in at the time of Investment Request.

Losing Private Keys

IF THE ISSUER LOSES ACCESS TO HIS/HER ENCRYPTED PRIVATE KEYS AND HAS NOT SEPARATELY STORED A BACKUP OF HIS/HER WALLET AND CORRESPONDING PASSWORD, THE ISSUER ACKNOWLEDGES AND AGREES THAT ANY BITCOIN THE ISSUER HAS ASSOCIATED WITH THE TRANSACTION ACCOUNT (Multi-Signature Master Public Extended Key) WILL BECOME INACCESSIBLE.

Ata Plus's Risk Disclaimer and Obligations

Bitcoin transactions sent from your e-wallet are irreversible. If you send Bitcoins to an incorrect address, or send the wrong amount of Bitcoins, you cannot get them back. Ata Plus cannot be held liable for executing a transaction if the instruction relates to an incorrect Bitcoin address.

Before investing with Bitcoin, please educate yourself about Bitcoin. Investing via Bitcoin entails risks and could result in a complete loss of your funds. Please ensure that you fully understand the risks involved and do not invest money that you cannot afford to lose.

All transaction requests on Bitcoin blockchain are irreversible. The authors of the software, employees and affiliates of ATA PLUS, copyright holders, and ATA PLUS Sdn Bhd cannot retrieve the Investor’s private keys or passwords if the Investor loses or forgets them and cannot guarantee transaction confirmation as they do not have control over the Bitcoin network.

Bitcoin Transfer Process

Ata Plus platform offers investor and issuer to complete the Bitcoin transfer process in a secure and transparent 2-of-3 multisignature (multisig) transaction process.

Ata Plus must gather all information in order to asses the investment and will arbitrate (judgment over transfer of funds) and provide a second signature to the part that it deems deserves it.

All the confirmed Bitcoin investments on the multi-sig Investment address shall only be released to the issuer upon ALL the following conditions are met as confirmed by Ata Plus :

  • The targeted amount sought to be raised has been reached. For crowdfunding of an open-ended SC registered fund, there would be only a low fundraising target amount set as the funding period can be continuous
  • There is no material and/or substantial and/or adverse change relating to the offer during the offer period
  • The cooling-off period of six (6) calendar days have expired
  • Upon fulfillment of any other conditions precedents (CPs)

In the event the issuer’s offer fail to reach its fundraising target by the end of the offer period, all the investor committed Bitcoin investment will be returned to investor’s defined return and/or end address.