{"id":4648,"date":"2023-09-27T18:07:44","date_gmt":"2023-09-27T18:07:44","guid":{"rendered":"https:\/\/bittrexglobal.com\/?page_id=4648"},"modified":"2023-10-19T16:21:17","modified_gmt":"2023-10-19T16:21:17","slug":"risk-summary","status":"publish","type":"page","link":"https:\/\/bittrexglobal.com\/legal\/risk-summary\/","title":{"rendered":"Risk Summary for Users in the United Kingdom"},"content":{"rendered":"\n
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Risk Summary for Users in the United Kingdom<\/h1>\n <\/div>\n <\/div>\n <\/div>\n\n<\/section>\n
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Latest Update: <\/strong>October 2023<\/p>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n\n

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Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.<\/p>\n

What are the key risks?<\/u><\/strong><\/p>\n

You could lose all the money you invest<\/strong><\/p>\n

The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.<\/p>\n

The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.<\/p>\n

You should not expect to be protected if something goes wrong<\/strong><\/p>\n

The Financial Services Compensation Scheme (FSCS) doesn\u2019t protect this type of investment because it\u2019s not a \u2018specified investment\u2019 under the UK regulatory regime \u2013 in other words, this type of investment isn\u2019t recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker here<\/a>.<\/p>\n

The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm. Learn more about FOS protection here<\/a>.<\/p>\n

You may not be able to sell your investment when you want to<\/strong><\/p>\n

There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.<\/p>\n

Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.<\/p>\n

Cryptoasset investments can be complex<\/strong><\/p>\n

Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.<\/p>\n

You should do your own research before investing. If something sounds too good to be true, it probably is.<\/p>\n

Don\u2019t put all your eggs in one basket<\/strong><\/p>\n

Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.<\/p>\n

A good rule of thumb is not to invest more than 10% of your money in high-risk investments<\/a>.<\/p>\n

If you are interested in learning more about how to protect yourself, visit the FCA\u2019s website at https:\/\/www.fca.org.uk\/investsmart<\/a>. For further information about cryptoassets, \u00a0see https:\/\/www.fca.org.uk\/investsmart\/crypto-basics<\/a><\/p>\n

Asset categories<\/h1>\n

Remember, not all crypto-assets are alike. Before investing, you should ensure you understand the specific risks involved. Below we have listed some of the main categories of crypto-assets available on Bittrex Global.<\/p>\n

Bear in mind that there isn\u2019t currently an industry standard way of grouping digital assets, with new developments and innovations in the cryptocurrency space emerging regularly, and some crypto-assets falling into more than one category. You should use the following categories as guides to help you differentiate among the more common cryptocurrencies; for each category we have included a link to further information that you might find useful as a starting point for your research.<\/p>\n

Utility Tokens<\/strong>
\nThese grant access to specific features or services within a blockchain ecosystem. More info \u00bb<\/a><\/p>\n

Stablecoins<\/strong>
\nThese are cryptocurrencies designed to maintain a stable value by pegging them to a reserve of assets, such as fiat currency or commodities. More info \u00bb<\/a><\/p>\n

Altcoins<\/strong>
\nThese are cryptocurrencies other than Bitcoin. More info \u00bb<\/a><\/p>\n

DeFi Tokens<\/strong>
\nThese are tokens associated with decentralized finance (DeFi) platforms. They often have utility within the DeFi ecosystem, providing functions like governance or collateral. More info \u00bb<\/a><\/p>\n

Wrapped Tokens<\/strong>
\nThese are tokens issued on one blockchain (e.g., Ethereum) to represent assets from another blockchain (e.g., Bitcoin). More info \u00bb<\/a><\/p>\n

Governance Tokens<\/strong>
\nThese tokens grant holders the right to participate in decision-making processes within a blockchain project. They are often used for protocol upgrades and changes. More info \u00bb<\/a><\/p>\n

Cross-Chain Tokens<\/strong>
\nTokens designed to facilitate interoperability between different blockchain networks, allowing assets to move between them. More info \u00bb<\/a><\/p>\n <\/div>\n <\/div>\n

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