Cryptocurrencies are unregulated in the UK. Cryptocurrency profits may be subject to Capital Gains Tax. The value of investments is variable and can go down as well as up.
Algorand is a protocol layer blockchain (similar to Ethereum) on which people can transact, launch smart contracts and build decentralised apps, including DeFi and NFT projects.
Launched in 2019, Algorand was designed as a Pure Proof-of-Stake platform with an emphasis on energy efficiency – it’s one of the only carbon neutral blockchains – and transaction speed: the network is capable of handling 46,000 transactions per second.
Algorand is the brainchild of Turing Award winner Silvio Micali, the inventor of a number of highly technical blockchain innovations such as zero knowledge proofs.
ALGO is the token that powers the network, used to pay transaction fees (currently 0.001 ALGO per transaction) and given out as staking rewards for holders who help secure the network.
CoinJar’s digital currency exchange services are operated 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).
Like all investments, cryptoassets carry risk. Due to the potential volatility of the cryptoasset markets, the value of your investments may fall significantly and lead to total loss. Cryptoassets are complex and are 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 Card is a prepaid Mastercard® issued by EML Money DAC pursuant to licence by Mastercard International Inc. The e-money associated with your card is issued by EML Money DAC, authorised by the Central Bank of Ireland under the European Union (Payment Services) Regulations 2018 (Ref C95957). We recommend you consider the CoinJar Card Terms and Conditions before making any decision to acquire the product. Mastercard the circles design are registered trademarks of Mastercard International Incorporated.
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