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.
UNI is the native token of the world’s largest decentralised exchange, Uniswap. An ERC-20 token built on top of the Ethereum network, UNI is a governance token, which means holders can vote on the funding of grants, partnerships, liquidity mining pools and other proposals.
A decentralised exchange is one where matching between buyers and sellers is entirely automated, facilitated by users who stake their tokens in trading pair ‘liquidity pools’. The deeper the liquidity pool, the better the prices available to potential buyers.
During the DeFi boom of mid-2020, Uniswap became the go-to platform for listing and trading DeFi tokens. While its success spawned numerous competitors on a number of different platforms, Uniswap remains the most widely used dedicated exchange with billions of dollars in Total Value Locked (TVL) – a measure of how much capital is locked into the protocol’s liquidity pools.
In September of 2020, Uniswap airdropped 400 UNI tokens to every Ethereum wallet that had ever transacted through Uniswap, with a unit price of US$3 per token. Tokens are also distributed to liquidity miners, as an incentive to stake tokens like ETH and USDT in liquidity pools.
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.
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