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.
Badger DAO (decentralised autonomous organisation) was launched in December 2020 with the aim of integrating Bitcoin more effectively with the DeFi economy.
While DeFi platforms already offer a Bitcoin equivalent known as Wrapped BTC (WBTC, available on CoinJar), the system usually requires centralised custodians to hold the users BTC while they engage with the DeFi ecosystem.
BadgerDAO overcame this by creating an entirely decentralised BTC equivalent known as DIGG. DIGG uses an algorithm to maintain its peg to BTC, much like the way the stablecoin DAI maintains its peg to the US dollar. DIGG tokens can be deposited with BadgerDAO’s own vaults, which then deploy it across a variety of DeFi protocols in a similar way to YFI.
BADGER is the governance token of BadgerDAO. It allows holders to vote on changes to the BadgerDAO protocol and fee structures, and BADGER tokens are paid to developers and users of the platform.
Like Bitcoin, only 21 million BADGER tokens will ever exist.
CoinJar’s Digital Currency and Exchange Services are operated by CoinJar UK Limited, a private limited company registered in England and Wales (company number 8905988). CoinJar UK Limited is registered in the UK 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.
Mastercard® is a registered trademark, and the two circle design is a registered trademark of Mastercard International Incorporated. The CoinJar Card Prepaid Mastercard is 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).
This material is general information only and does not consider your objectives, financial situation or needs and you should consider if CoinJar Card is right for you. We recommend you consider the CoinJar Card Terms and Conditions before making any decision to acquire the product.
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