Founded in 2018, Pyhash started out as a digital asset management institution providing after market support and treasury management solutions to token issuers, institutions, investors, and mining operations in the blockchain ecosystem.
Pyhash Aftermarket Support Program supports the growth of a project by supporting the creation of a healthy marketplace. Our trading strategy and decisions are fundamentally based on achieving a healthy and robust marketplace. This program is not a service to provide token price appreciation. Our trading strategies may run counter to the token price and may in fact depreciate the value of the token. Further, you may lose some or all of your Capital Deposit. There is no guarantee that your Capital Deposit will grow or that you will realize a profit. Trading of cryptocurrencies comes with a high degree of risk. The cryptocurrency market is incredibly volatile and certain cryptocurrencies have experienced daily price volatility of more than 20%. Rapid and substantial price movements in a cryptocurrency may result in significant losses. The lack of centralized pricing sources also pose challenges to the market. This may inhibit our ability to exit a position or avoid significant losses, in particular, in periods of stress.
Additionally, the cryptocurrency market is subject to a high degree of cybersecurity risk. Risk of cyberattacks, hacking and theft are common on exchanges and in hot wallets. Further, there is a risk that the publicly distributed ledger on which your cryptocurrency transacts is itself the subject of an attack which could result in a substantial, immediate and irreversible loss of such cryptocurrency. Even a minor cybersecurity event in a cryptocurrency could substantially depreciate the price of a cryptocurrency.
Cryptocurrency balances are generally maintained as an address on the blockchain and are accessed through private keys, which may be held by a market participant or custodian. Although cryptocurrency transactions are typically publicly available on a distributed ledger, the public address does not identify the controller, owner or holder of the private key. Unlike bank and brokerage accounts, cryptocurrency exchanges and custodians that hold cryptocurrencies do not always identify the owner. The opaque underlying spot market poses asset verification challenges for market participants, regulators and auditors and gives rise to an increased risk of manipulation and fraud, including the potential for Ponzi schemes, bucket shops, pump and dump schemes and wash trading. Further, the exchanges on which we transact are relatively new and largely unregulated in many jurisdictions. The unregulated nature of the exchanges give rise to an increased risk of manipulation and fraud and there is no guarantee that the exchange will be able to safeguard your investment from such manipulation and fraud.
The lack of regulatory oversight for cryptocurrency exchanges creates a risk that cryptocurrency exchanges may not hold sufficient funds to satisfy obligations and that such deficiency may be easily identified or discovered. Additionally, many cryptocurrency exchanges have experienced significant outages, downtime and transaction processing delays and may have a higher level of operational risk than regulated securities and futures exchanges. Further, cryptocurrency exchanges typically retain exclusive control of private keys. Vulnerabilities to liquidity, operational or technology failures in the cryptocurrency exchanges cannot be understated. The lack of regulation, the threat of cybersecurity attacks and technology risks (further described below) of the exchanges we transact on may result in the loss of some or all of your Capital Deposit.
The relatively new and rapidly evolving technology underlying cryptocurrencies introduces unique risks. For example, a unique private key is required to access, use or transfer a cryptocurrency a distributed ledger. The loss, theft or destruction of such a private key may result in an irreversible loss. The ability to participate in forks could also have implications for the market. An exchange may or may not allow participation in such fork which could adversely impact an investor.
Given the risks associated with cryptocurrency, you should be aware that you may lose some or all of your Capital Deposit.