You can lose money. Cryptoassets and cryptoasset-derived income are largely unregulated in the UK. There is no Financial Services Compensation Scheme (FSCS) cover. There is no Financial Ombudsman Service (FOS) route. If we go offline, lose your funds, or get hacked, no compensation scheme will refund you.
Summary
Mining cryptocurrency through our pool, holding GCC, and using the wallet software we publish all carry meaningful risk. The most important risks are listed below, in plain English. None of this is legal or financial advice.
No UK regulator
Cryptoassets are not regulated by the Financial Conduct Authority (FCA) in the United Kingdom. We are not authorised or supervised by the FCA, the Bank of England, the PRA, or any other regulator. Our financial promotions (advertisements, this website, social media) are self-certified against the FCA's restricted-mass-market investment rules and are aimed at users who are willing to take risk.
If something goes wrong with the pool, the coin, the wallet, or any service we run, you cannot complain to the Financial Ombudsman Service and the FSCS will not refund you.
Price volatility
Cryptoasset prices move sharply and unpredictably. A 30–50% drawdown in a single day is normal for many coins. Any earnings you accumulate through mining or hold in your wallet can fall in pound-sterling terms before you have a chance to sell, swap, or spend them.
Past returns — your own or anyone else's, on our pool or elsewhere — are not a guide to what comes next.
Mining-specific risk
- Hardware and electricity costs can exceed the value of what you mine. UK domestic electricity is among the most expensive in Europe; verify your tariff before scaling up.
- Network difficulty rises over time on most coins, reducing your hashrate's share of the block reward.
- Coin price can fall faster than difficulty falls, leaving you mining at a sustained loss.
- Algorithm changes (forks) can stop your hardware being competitive overnight (KawHash, KawPow, and Etchash have all had this happen at least once).
- Pool risk: if our pool goes offline, your miners contribute nothing during the outage. We aim for >99.9% uptime but cannot promise it.
Self-custody risk
Our wallet and our pool are self-custodial by default. Payouts go directly to addresses you supply. That means:
- If you lose your seed phrase, your funds are gone. There is no password reset, no support route, no recovery process. We have no copy.
- If somebody else gets your seed phrase, they can take your funds. We cannot freeze or reverse a transaction.
- If you send to the wrong address, we cannot get it back.
Read our seed-phrase storage field guide and our 2FA docs before you put real money on the line.
Tax
In the United Kingdom, mining rewards are treated as taxable income at the point of receipt, and any disposal of cryptoassets is a Capital Gains Tax event. HMRC's guidance is in their Cryptoassets Manual; the rules change. You are responsible for your own tax compliance. We provide CSV exports to help, but we do not provide tax advice. If your activity is material, speak to an accountant who understands cryptoassets.
No financial advice
Nothing we publish — on this site, on the blog, on our YouTube channel, on social media, in private correspondence, or anywhere else — constitutes investment advice, a recommendation to buy or sell any cryptoasset, or any other regulated advice. Examples, sample portfolios, and calculator outputs are illustrative and not personalised.
Changes to this notice
We may update this notice when the law changes or when we add a new product. The current effective date is shown at the top of this page. If you have questions, email steven@getcrypto.co.in.