Crypto Card Compare

Crypto risk summary

FCA Risk warning Don't invest unless you're prepared to lose all the money you invest. Crypto is a high-risk investment and you are unlikely to be protected if something goes wrong.

Estimated reading time: 2 minutes

You could lose all the money you invest

Cryptoassets are highly volatile. The value of crypto tokens can fall sharply, and you may lose all of the money you put in. Past performance does not predict future returns.

This applies equally to cryptoassets you receive as cashback or rewards on a crypto card. If you receive cashback in a token like CRO, BNB, GNO, or PLU, the value of that token can fall before you spend or convert it. Your real return may be significantly lower than the headline cashback rate suggests.

You are unlikely to get your money back if something goes wrong

Most crypto products are not regulated in the UK in the same way that banks and traditional financial products are. The Financial Services Compensation Scheme (FSCS) does not protect cryptoasset investments. The Financial Ombudsman Service may not be able to help you if you have a complaint.

Some crypto card issuers in the UK hold an FCA registration as an electronic money institution (EMI). This regulates the e-money side of the product, providing safeguarding of fiat balances. It does not regulate the cryptoasset cashback or staking elements of the product. Always check what specific protections apply.

You may not be able to sell or convert when you want to

Some crypto card cashback is paid in tokens that have low trading volume or limited liquidity. You may face delays, costs, or unfavourable rates when converting tokens to fiat. Cards that require staking lock your capital for a fixed period, you cannot withdraw early without losing the cashback tier you staked for.

Crypto products are complex

Crypto cards combine several different financial products: a payment card (regulated as e-money), a cryptoasset (largely unregulated), a cashback or rewards programme (with terms that change), and in some cases a staking arrangement (with token price risk). Understanding all these elements together takes time. Don't apply for a product you don't fully understand.

Don't put all your eggs in one basket

If you choose to spend on a crypto card or hold cryptoasset cashback, only commit money you can afford to lose entirely. The Financial Conduct Authority recommends holding no more than 10% of your investable assets in cryptoassets.

This site is not financial advice

Crypto Card Compare is an editorial publication. Our content describes how crypto cards work and compares their features, but it is not personal financial advice and does not take into account your individual circumstances. We are not authorised by the FCA to give regulated financial advice. If you need help deciding whether a crypto card is right for you, speak to a qualified financial adviser.