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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There are five main types of cryptocurrency wallets, namely desktop wallets, mobile wallets, online wallets, hardware wallets and paper wallets. You do not need a wallet if you are trading cryptocurrencies via a CFD account, only when you are buying them. Wallets are used to store, send and receive cryptocurrencies.
