Cryptocurrencies are an alternative to traditional money. Today, some outlets accept cryptocurrencies as a form of payment. However, they bear little resemblance to other asset classes because they are intangible and extremely volatile. They are mainly used by traders for speculating on rises and falls in value.
The Financial Conduct Authority (FCA) warns people about the risk of investing in cryptocurrencies, referencing price volatility, product complexity, charges and fees, marketing materials and consumer protection. 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