01
Introduction
Elite Watches Global accepts cryptocurrency as a payment method for purchases made through our platform. We accept over 240 digital currencies and tokens, offering flexibility for customers who hold digital assets.
However, cryptocurrency payments carry inherent risks that are materially different from traditional fiat payment methods. This Risk Disclosure document is intended to inform you of those risks so that you can make an informed decision before proceeding.
This document is not financial or investment advice. It is a disclosure of the operational and financial risks specific to making payments with cryptocurrency on our platform.
By proceeding with a cryptocurrency payment on our platform, you confirm that you have read, understood, and accepted the risks described in this disclosure.
02
Volatility Risk
Cryptocurrency markets are characterised by significant and rapid price volatility. The USD value of any cryptocurrency can fluctuate substantially within seconds.
- Invoice Rate Lock: When you initiate a cryptocurrency payment, we generate an invoice with the equivalent cryptocurrency amount calculated at the prevailing rate at that moment. This rate is locked for 30 minutes.
- Expired Invoices: If the invoice expires before your payment is completed and confirmed, a new invoice will be issued at the then-current exchange rate. This may result in a different cryptocurrency amount being required for the same USD purchase price.
- No Rate Guarantee Beyond 30 Minutes: We cannot and do not guarantee any exchange rate beyond the 30-minute invoice window.
We recommend initiating and completing your cryptocurrency payment promptly to avoid rate changes caused by invoice expiry.
03
Irreversibility
Cryptocurrency transactions on a blockchain are irreversible once confirmed. Unlike credit card or bank payments, there is no chargeback mechanism and no central authority capable of reversing a transaction.
Always verify the payment address and cryptocurrency amount carefully before sending. Sending cryptocurrency to an incorrect address, or sending the wrong asset or amount, may result in permanent, unrecoverable loss of funds.
- We are not liable for funds sent to an incorrect address provided by or misread by the customer.
- We are not liable for funds sent after an invoice has expired.
- Funds sent on an incorrect blockchain network (e.g., sending ERC-20 tokens to a BEP-20 address) may be permanently lost.
If you are uncertain about any aspect of the payment process, please contact us at contact@elitewatchesglobal.com before sending any cryptocurrency.
04
Network Fees
All blockchain transactions require payment of network fees (also known as "gas fees" or "miner fees") to be processed and confirmed by the relevant network. These fees are entirely outside our control and are not included in the invoice amount.
- Buyer Responsibility: You are solely responsible for ensuring that sufficient funds are available in your wallet to cover both the invoice amount and the network fee.
- Exact Invoice Amount: You must send the exact amount stated on the invoice. Under-payments — even by a fraction — may not trigger order confirmation. Network fees must be paid separately by your wallet.
- Fee Variability: Network fees can vary significantly based on network congestion, blockchain type, and transaction size. High-traffic periods may result in substantially elevated fees.
We recommend using wallets that allow you to set or preview network fees before broadcasting a transaction.
05
Confirmation Time
After a cryptocurrency payment is broadcast to the network, it must be confirmed by the blockchain before your order is considered paid. The number of confirmations required and the time to achieve them vary by cryptocurrency and network conditions.
Bitcoin (BTC)
Typically requires 2–6 confirmations. Average block time ~10 minutes per confirmation.
Ethereum (ETH)
Typically requires 12–30 confirmations. Block time ~12 seconds per block.
Stablecoins (USDT / USDC)
Confirmation times depend on the underlying network (Ethereum, Tron, BSC, etc.).
Other Coins
Confirmation requirements vary. Refer to the payment gateway for specific details per coin.
Your order will only be confirmed and dispatched once the required network confirmations are received. We are not liable for delays caused by network congestion or slow block times.
06
Refund Risk
In the event that a refund is due (in accordance with our Refund Policy), cryptocurrency refunds are subject to the following conditions and risks:
- Same Currency: Refunds are issued in the same cryptocurrency used for the original payment.
- Prevailing Rate: The refund amount is calculated at the prevailing market rate on the day of processing, not the rate at the time of your original payment.
- No USD Equivalence Guarantee: Due to market volatility, the USD value of your refund may be higher or lower than the amount you originally paid. Elite Watches Global accepts no liability for any difference in USD value between the original payment and the refund.
Example: If you paid 0.01 BTC when Bitcoin was trading at USD 60,000 (USD 600 equivalent) and Bitcoin has since dropped to USD 50,000, your refund of 0.01 BTC would be worth USD 500. The USD difference is a market risk borne by the customer, not Elite Watches Global.
07
Regulatory Risk
The regulatory status of cryptocurrency varies significantly across different countries and jurisdictions. Laws and regulations governing the purchase, sale, use, and taxation of digital assets are evolving rapidly and differ by location.
- Buyer Compliance: You are solely responsible for ensuring that your use of cryptocurrency to make purchases complies with all applicable laws, regulations, and tax obligations in your country of residence.
- Tax Obligations: In many jurisdictions, using cryptocurrency to purchase goods may constitute a taxable event. You should consult a qualified tax advisor regarding your obligations.
- Import and Exchange Controls: Some countries impose restrictions on the use of cryptocurrency or on cross-border payments. It is your responsibility to comply with such regulations.
- No Regulatory Guidance: Elite Watches Global does not provide legal or regulatory advice and accepts no liability for regulatory consequences arising from your use of cryptocurrency for payment.
08
No Financial Advice
Elite Watches Global does not provide financial, investment, or cryptocurrency advice of any kind.
Nothing on this website, in our communications, or in this disclosure constitutes investment advice, financial planning guidance, or a recommendation to acquire, hold, or dispose of any cryptocurrency.
The acceptance of cryptocurrency as a payment method is provided solely as a convenience to customers who already hold digital assets. We are a watch trading business, not a financial services provider.
If you require guidance on cryptocurrency investing or financial planning, please consult a regulated financial advisor in your jurisdiction.
09
Security
The security of your cryptocurrency wallet and funds is your sole responsibility. Please observe the following important security principles when making a cryptocurrency payment:
- Protect Your Wallet: Keep your private keys and seed phrases strictly confidential. Store them offline in a secure location. Never share them with anyone.
- We Will Never Ask for Your Private Keys or Seed Phrases: Elite Watches Global will never, under any circumstances, request your private key, recovery phrase, wallet password, or any equivalent credential. Any communication claiming to be from us that requests such information is fraudulent.
- Verify Payment Addresses: Always copy and double-check the full payment address from our invoice. Do not manually type addresses. Beware of clipboard hijacking malware that replaces copied addresses.
- Phishing Awareness: Verify you are on the legitimate Elite Watches Global website before initiating any payment. Our domain is elitewatchesglobal.com.
- Secure Device: Only initiate cryptocurrency payments from a device that is secure, updated, and free from malware.
10
KYC / AML
We comply with applicable KYC and AML regulations. High-value transactions may require identity verification.
Elite Watches Global takes its anti-money laundering and know-your-customer obligations seriously. When processing cryptocurrency payments, particularly for high-value items:
- We reserve the right to request identity verification before confirming an order.
- We may require proof of source of funds for transactions that meet applicable AML thresholds.
- We may decline or cancel any order where there is reasonable suspicion of fraud, money laundering, sanctions risk, or where required information is not provided.
- Orders cancelled due to KYC/AML non-compliance may be subject to refund processing timelines and applicable conditions.
All identity verification data is handled in accordance with our Privacy Policy.
11
Acceptance
By Proceeding, You Accept These Risks
By proceeding with a cryptocurrency payment on the Elite Watches Global platform, you confirm that you have read and understood this Risk Disclosure in full, that you are aware of and accept the risks described herein, and that you are making your payment voluntarily and with full knowledge of the limitations and risks involved.
If you have any questions or concerns before proceeding, please contact us at contact@elitewatchesglobal.com. We are happy to assist with any pre-payment enquiries.
12
Contact
For any questions regarding cryptocurrency payments or this Risk Disclosure, please contact us:
- Business Name: Elite Watches Global
- Owner: Chauhan Bhavesh
- Registered: India
- Email: contact@elitewatchesglobal.com
- Website: elitewatchesglobal.com
We aim to respond to all enquiries within 2 business days.