Crypto-assets are high-risk. Their value can fall to zero, transfers cannot be reversed and, with a self-custody wallet, nobody can restore access if you lose your recovery phrase. Only use money you can afford to lose.
1. Why you are reading this
This page summarises the main risks of using Starpay. It is not a complete list. If you are unsure whether crypto-assets are right for you, get independent financial advice.
2. Prices can move sharply
The value of Bitcoin, Ether, BNB, POL, TRX and other crypto-assets can rise or fall quickly and unpredictably, including to zero. Past performance is not a guide to the future.
3. Stablecoins are not risk-free
USDT aims to keep a value of one US dollar, but it may lose that value. Its issuer can freeze tokens at particular addresses, and regulatory action against the issuer could affect whether USDT can be used or redeemed. USDT on one network is not interchangeable with USDT on another.
4. Self-custody means sole responsibility
- If you lose your recovery phrase and your device, your crypto-assets are lost permanently. Starpay cannot recover them.
- Anyone with your recovery phrase can take your crypto-assets.
- Malware, phishing websites and impersonators may try to trick you into revealing your phrase or approving a transfer. Starpay will never ask for your phrase.
5. Transfers are final
Blockchain transactions cannot be cancelled or reversed. Sending to a wrong address, or on a network the recipient does not support, usually means the funds are lost.
6. Network and technology risk
Blockchains can be congested, slow or expensive, and fees can change between quote and confirmation. Networks can suffer outages, software bugs, attacks or forks. Third-party services such as swap providers can fail, and swap prices can move before your order completes.
7. Card risks
Converting USDT to your card balance happens at the rate shown at the time, which may differ from other markets. Your card balance is not a bank deposit and is not covered by any government deposit insurance scheme. If the issuer or a partner fails, access to your balance could be delayed or lost.
8. Regulatory risk
Laws on crypto-assets are changing in many countries. A change in law could restrict or end parts of the Services where you live, or change how they are taxed. Crypto-assets may not be covered by investor or deposit protection schemes in your country.
9. Tax
You are responsible for any tax due on your crypto-assets and card spending. Spending or swapping crypto-assets may be a taxable event where you live.