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UK FAQs & Message for our UK resident customers, as of October 2023
UK FAQs & Message for our UK resident customers, as of October 2023

FAQs about platform updates for UK customers

Updated over a week ago

Is YouHodler regulated in the UK?

YouHodler is a regulated entity in Switzerland and the EU, and is not an FCA regulated entity, nor does it have a UK based company. YouHodler is therefore NOT a UK regulated company. However, it is important to us that we comply with all laws that apply to us.

Therefore, in compliance with the updated Financial Services Promotions Regime, which applies to all Crypto Services Providers with a customer base in the UK, as of 8 October 2023 YouHodler will be making some changes in how it interacts with UK residents.

What products are available?

Fortunately, as an EU/CHE regulated entity we are still able to offer UK residents the majority of our trading services and products. Services which are still enabled include:

  • Fiat deposits and withdrawals in USD, EUR, CHF & GBP

  • Web3 Wallet with 53 tokens supported on 15 Blockchains, including the top 20 tokens

  • Security protocols for increasing account security, including options for 2FA and 3FA

  • In wallet integration with Ledger Live

  • Conversions Crypto-Crypto with Real Time execution and more than 60 trading pairs

  • Conversions Crypto-Fiat and Fiat-Crypto (see fees, commissions and limits here,)

  • Crypto-Backed Lending with LTV up to 90% (see available plans, including ltv and fees. Please note that the most accurate and up-to-date conditions are always listed in the individual application for each loan.)

  • MultiHodl with Rollover fees clearly disclosed at opening according to market conditions, no opening or closing fees, and no Profit-share fees.

  • Instant communication with our customer Service agents in-app, 24/7

    However, we are limiting and restricting other features not mentioned in the list above in compliance with the new laws and guidelines.

What happens if a UK Resident, see a promotion which does not apply from non-uk channels?

For full transparency, specific communications will be made available to customers in the UK when attempts are made to interact with a promotion which, under the new regime, cannot be applied to them since we want to make sure that our UK customers do not feel misled by content that cannot apply to them. As a general guidance: Rewards programs, loyalty programs, refer-a-friend promotions, prize-draws and giveaways will not apply to UK customers.

What products are not available?

The Products which will no longer be available to UK retail users, in line with the regulations, which are targeted at consumer protection, include:

  • Referral bonuses

  • Signup discounts

  • Miner

  • Loyalty Program/Rewards

  • Yield Account

Why will UK customers receive less communications? Can I still get support?

While UK customers will be receiving less promotions and communications from us, YouHodler wants to make sure that you know that our Customer Support will always be there to support you in-app or on our website with any technical issues or complaints. We will also be building UK targeted FAQs and communications, tailored to the Products, services and needs of UK customers in compliance with the Financial Services Promotions Regime.

YouHodler is regulated in the EU (Italy) and Switzerland, and does not have a regulated UK entity. YouHodler is NOT regulated by the FCA, and protections offered under UK law do not apply. YouHodler promotions are not targeted at UK investors, and bonuses or loyalty programs like the rewards programme or sign-up offers will not be available to residents of the UK. Do not invest with YouHodler unless you’re prepared to lose all your money invested. Crypto Currency is considered as a high‑risk investment and you are unlikely to be protected if something goes wrong. Take 2min to learn more about risks.

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