Sponsored by CoinJar

Dear MoneyMagpie Reader, 

Bitcoin’s price hit a new all-time high of £85,335 on 18/12/2024. While it has been up and down since then, and there is potential for significant price drops, now, we know what you're thinking: "Crypto? Is it hard?"

Our partners at crypto exchange CoinJar are here to make buying and selling cryptocurrencies user-friendly.

Download the CoinJar app and you're off to the races. 

Then sign up, verify your ID, and you're ready to buy and sell crypto in 24 hours! 

There’s no need for a fancy crypto wallet. Your newly-acquired cryptocurrency can be kept in your CoinJar account. 

To buy crypto, you can transfer funds from your bank account or use other payment methods to buy crypto. You can also sell crypto, then cash out into your bank account. 

But with CoinJar, you can dip your toes into the exciting world of digital currency in baby steps. The app is very user-friendly and you can start with £20.

You don’t need to buy a whole Bitcoin, for example, you can buy part of a Bitcoin. And there are 70 other cryptocurrencies on the exchange that you could buy and sell as well. Now might be an interesting time to start stacking some cyber squids. 

As large corporate companies and even countries have started to buy Bitcoin. 

Crypto, of course, is a bit like British weather – it can change quickly. Make sure you only invest what you can afford to lose. And if you're ever unsure about anything, the local CoinJar customer support team can help.

Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service.

We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.

CoinJar’s digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).

Standard Risk Statement

The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies. The article is provided for general information and educational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results.

UK residents are required (in accordance with local legislation) to complete an appropriateness assessment to show they understand the risks associated with what crypto/investment they are about to buy and enabling CoinJar to categorize them as an investor. New customers are also required under local regulations to wait 24-hours as a “cooling off” period (from account creation), before their account is active (i.e. to deposit, trade, withdraw etc.).

Cryptocurrency is currently not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments. You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you’re unlikely to have recourse to the Financial Services Compensation Scheme (FSCS)  or the  Financial Ombudsman Service (FOS) if something goes wrong.

Remember: Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more: www.coinjar.com/uk/risk-summary.

If you use a credit card to buy cryptocurrency, you would be putting borrowed money at a risk of loss. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.