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Risk Warning - Notice to UK Users  

Estimated reading time: 2 mins

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 crypto assets.

The crypto asset 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 here.

The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm. 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 crypto assets can be easily sold at any given time. The ability to sell a crypto asset 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 crypto assets at the time you want.

4.Cryptoasset investments can be complex

Investments in crypto assets 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, itprobably 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. Learn more here.

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.

How do I deposit money?

To send funds to your Tap banking account, please follow these steps:

• Open the Tap app and go to the "Cash" section.
• Press on the "EURO" or "GBP" according to the currency of your choice.

Add funds via banking transfer: 
Tap on "Add via Banking Transfer" That will reveal your banking account details.
If you decide to proceed via banking transfer, this will reveal your banking account details.

Take the details and use them in your personal banking app, online portal or in branch to send funds to your Tap Global account. The accounts are unique for each user, hence no other details are needed.
The funds has to come from an account in your name or else the transfer will be rejected. Please make sure that you enter your account name as it is displayed in your Tap account.

Add funds via debit card:
Tap on "add card" then enter your card details. Once you proceed, a 3D secure pop up will appear to confirm your card authenticity, confirm the verification.
Select your desired card amongst the list. Enter the amount you wish to deposit then press on "continue".

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