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.
Released in 2017, Chainlink was one of the first and remains the most important blockchain “oracle”.
Oracles were invented to overcome a basic issue with smart contracts: how do you verify that a condition has been met if that condition is dependent on data from the real world? e.g. the price of Bitcoin on a certain date.
Chainlink creates an incentive system for ‘oracles’ to provide accurate and up-to-date information that smart contract operators can draw on when creating triggers for their transactions. As they provide more and more correct data, oracles gain ‘reputation’ and are rewarded in the form of LINK tokens.
LINK tokens can be staked to help verify transactions on the network and are also used by smart contract developers to pay for the services of the network’s oracles.
Chainlink is an ERC-20 token built and operating on the Ethereum 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).
Cryptoassets carry high 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. 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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