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 mins to learn more.
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
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.
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.
2. You should not expect to be protected if something goes wrong
The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
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.
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.
4. Cryptoasset investments can be complex
Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
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.
A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
Days before he reentered the White House, Donald Trump launched his own official memecoin, $TRUMP, which broke records when it shot up more than 10,000% in a day with the price peaking over $70 and currently with a market cap over $10 billion (around £8.2 billion). Here’s how you can buy the official Trump (Trump) coin here in the UK.
While it initially launched on the Solana network, it can now also be purchased on a range of regular cryptocurrency exchanges including Kraken and eToro.
Trump is available on a number of popular crypto exchanges that operate in the UK. Here’s a step-by-step guide on how to do it:
Find an exchange. While TRUMP launched on the Solana network, it can now be traded via regular crypto exchanges. You can see which exchanges let you trade TRUMP below.
Create an account. Once you’ve picked an exchange, you’ll need to sign up for an account using your personal details and ID document.
Add a payment method. After your account is verified, you’ll need to set up a payment method. Many exchanges let you deposit Australian dollars directly using bank transfer or buy directly using a debit or credit card.
Purchase your TRUMP. Depending on which platform you choose, you’ll now be able to buy TRUMP via either an instant purchase or buy order. Simply search the exchange for Trump, select how much you want to buy and your payment method and confirm the transaction.
Where to buy TRUMP
You can compare crypto exchanges that let you trade TRUMP below based on supported payment methods and fees:
To make comparing even easier we came up with the Finder Score. Fees, features and asset-support across the most popular platforms are all weighted and scaled to produce a score out of 10. The higher the score the better the exchange – simple.
What about buying TRUMP via a decentralised exchange?
If you have a Solana wallet, you can also buy TRUMP directly via a decentralised exchange (DEX) like Raydium or Orca.
DEXs let you instantly swap one crypto for another without having to go through a regular exchange.
What is TRUMP?
Trump is the official memecoin launched by US president Donald Trump. It was announced via Trump’s social media accounts and started trading on the Solana network.
Within hours it had reached a market capitalisation of billions of dollars, with more than US$10 billion of trading volume.
If you’ve more crypto experience then you may want to look at using decentralised exchanges (DEXs), the easiest way to buy the Trump memecoin this way may be via a Solana DEX like Meteora or Raydium.
This will require you to have a Solana wallet set up, as well as SOL or USDC tokens which you then use to purchase TRUMP.
What do I need to buy TRUMP?
If you want to buy TRUMP via a regular crypto exchange, you’ll need the following:
A crypto trading account. You’ll need to sign up for a trading account with a crypto exchange.
An ID document. You’ll need this to verify your account and begin trading.
A payment method. You can generally buy crypto using either a bank transfer or directly using a debit or credit card, depending on which exchange you use.
If you want to buy TRUMP via a DEX you’ll need the following:
A personal Solana wallet. You’ll need a software or hardware wallet that supports trading on the Solana network, such as Phantom.
SOL or USDC tokens. You’ll also need SOL or USDC in order to purchase TRUMP. You can buy these tokens via a regular crypto exchange.
Is Trump safe to invest in?
TRUMP was officially launched via Donald Trump’s social media accounts
However, like most memecoins, TRUMP doesn’t necessarily have any intrinsic value. While it has broken records in terms of price appreciation, it is also likely to be prone to extreme rises and falls.
In fact, after rising more than 10,000% in its first day, it then crashed from around US$75 to around US$35 within minutes.
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
Tom Stelzer is a writer for Finder specialising in personal finance, including loans and credit, as well as small business and business loans. He has previously worked as a freelance writer covering entertainment, culture and football for publications like FourFourTwo and Man of Many. He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney. See full bio
This guide provides step-by-step instructions on how to buy Arbitrum, lists some exchanges where you can get it and provides daily price data on (ARB).
Learn how to buy Litecoin in the UK with our simple step-by-step guide and tips on what to know before you get started.
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