1. Investors
  2. Ways to invest
  3. Cryptocurrencies
  4. 3 things to know once you’re using cryptocurrencies

3 things to know once you’re using cryptocurrencies

1. There’s no guarantee your currency will keep growing in value

Your cryptocurrency may have grown in value very quickly and it may continue to grow – but it may also drop in value very quickly, permanently. To reduce your risk, only invest money you can afford to lose.

2. You may not get your money back

Many investing in cryptocurrencies have been unable to withdraw their money. A number on a screen is no guarantee your money exists. Check you can get your money out before you invest more.

Store your login details securely. If you forget them or enter your details incorrectly, you may not be able to access to your money, permanently.

3. Your ‘coins’ may be stolen

All online transactions are at risk of cyber-crime. The cryptocurrency in your digital wallet can be stolen just like the money in your real wallet – with very little chance of it being returned. Cryptocurrency marketplaces and exchanges can also be at risk of cyber-attack. Don’t invest more than you can afford to lose.

Learn more about cryptocurrencies