What happens if I choose the wrong currency?

Selecting the wrong currency when initiating a transaction can lead to issues.

Sending the wrong currency can lead to complications, such as conversion fees and unfavourable exchange rates, which might reduce the value of your assets.

Plus, if you send any assets, including tokens, that are not compatible with the recipient’s platform, there is a risk of permanent loss.

Different platforms and wallets are designed to handle specific types of cryptocurrencies, and sending incompatible assets can lead to them being unrecoverable.

Cryptoassets are high-risk and may not be right for everyone. The value of your crypto can go up or down at any time and may even fall to zero. You should only invest if you fully understand the risks and if it suits your financial situation. Funds used for crypto transactions are not safeguarded and are not covered by the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service.

Cryptoasset services are provided by Synterra Innovations Ltd., registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to offer virtual currency services (registration no. C100000635). You can verify the company’s registration here via the official register. Synterra Innovations Ltd. is not permitted to carry out virtual asset activities in the European Union and United Kingdom. These services are not offered by, affiliated with, or endorsed by Altery LTD, which is authorised and regulated by the Financial Conduct Authority (FCA) in the UK.

Read the full Risk Disclosure of Synterra Innovations Ltd. for more details.