Notice to users in the UK

The FCA has expanded the scope of the nancial promotions regime to enhance protections for UK users investing in crypto. Due to the potential for losses, the UK nancial regulator, the Financial Conduct Authority (FCA), considers crypto investments to be high risk.

1. What key risks should I consider?

Before investing any funds in crypto, please consider the following risks carefully:
1. Losing your whole investment

• As a whole, the crypto market is extremely volatile, and the values of cryptocurrencies can swing wildly up and down. Be prepared to lose your entire investment.
• The crypto market is mostly unregulated, so there are multiple risks of loss, hacks, cyber-attacks, scams, fraud, or company insolvency.

2. Limited protection

• The Financial Services Compensation Scheme (FSCS) doesn't cover crypto investments. If you lose money in crypto, it's lost forever. Check the FSCS investment protection checker for more info: FSCS Investment protection checker.
• The Financial Ombudsman Service (FOS) won't bail you out for poor investment performance. However, they might help if it's an FCA-regulated rm issue. Learn more For consumers about FOS protection here: For consumers.

3. Difficulty of selling crypto demand issues.

4. Crypto's financial and technical complexity

• Crypto investments can be confusing. Do your own research before investing in any project.
• Not all cryptocurrencies are the same, and some are riskier than others. It's essential to understand the specific risks of each cryptocurrency before investing.
• If something sounds too good to be true, it probably is.

2. Tips to stay safe

1. Diversify your investments:

• Don't put all your money into one type of investment. Diversify your investments to reduce risk.
• As a general rule, steer clear of putting more than 10% of your funds into high-risk ventures.

2. If you invest in crypto, ensure you follow security best practices.

3. Visit the FCA's website for more tips on investing: InvestSmart.

• For more on investing in cryptocurrencies, visit the FCA's article: Crypto: The basics.

3. How do the UK regulations affect NOW Wallet customers?

You can still send, receive, and store crypto with NOW Wallet. For quick help, please email [email protected] with questions.