The value of investments and the return on investments may fluctuate significantly up and down and the entire amount invested may be lost.
Investments in early-stage projects involve a high level of risk, so it is necessary to properly understand their business model.
Crypto-assets within the scope of the CNMV Circular 1/2022 of 10 January on advertising of crypto-assets presented as investment objects are not covered by customer protection mechanisms such as the Deposit Guarantee Fund or the Investor Guarantee Fund.
Crypto-asset prices are formed in the absence of mechanisms to ensure their correct formation, such as those present in regulated securities markets.
Many cryptoassets may lack the liquidity to unwind an investment without significant losses, as their circulation to both retail and professional investors may be very limited.
Distributed log technologies are still at an early stage of maturity, with many of these networks having been created only recently, so they may not be sufficiently tested and there may be significant flaws in their operation and security.
The transaction log in networks based on distributed log technologies operates through consensus protocols that may be susceptible to attacks that attempt to modify the transaction log and, in the event of successful attacks, there would be no alternative log to back up the transactions and thus the balances corresponding to the public keys, and all crypto-assets could be lost.
The anonymity facilities that crypto-assets can provide make them a target for cybercriminals, since in the case of stealing credentials or private keys they can transfer the crypto-assets to addresses that make them difficult or impossible to retrieve.
The safekeeping of crypto-assets is a very important responsibility as they can be lost in their entirety in the event of theft or loss of the private keys.
BITCOINFORME, S.L. (hereinafter "Bit2Me"), with registered office at Calle Germán Bernacer, 69, 03203, Elche, Alicante, SPAIN and with tax identification number. B-54835301, registered in the Mercantile Register of Alicante, volume 3828, folio 110, Inscription 1 with Page A-143230, is the provider of the cryptoasset services available through the TU Wallet App, including the cryptocurrency exchange and electronic wallet custody service that allows the exchange of virtual currency for fiat currency (euros), the conversion and transfer between the different types of cryptocurrencies supported, the purchase and sale of cryptocurrencies, as well as other additional help and support services for the services and functionalities described.
Telefónica Innovación Digital S.L.U. (hereinafter "TID") is the owner of the TU Wallet application and the provider of the information society services available through the App, which give users access to the Bit2Me services indicated.
The acceptance of crypto-assets as a medium of exchange is still very limited and there is no legal obligation to accept them.
Bit2Me securely stores the private keys of TU Wallet users' digital wallets, which are the means by which cryptocurrency transactions are carried out.
Additional information about Bit2Me cryptoasset services in TU Wallet can be found at Terms and Conditions applicable to Bit2Me Services in the TU Wallet App.
You can also find more information about TID's information society services in the TU Wallet app at TU Wallet App Terms and Conditions.