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Coindirect - Risk/Legal

Risk Statement

You should be aware that the risk of loss in trading or holding Digital Currencies can be substantial. The value of Digital Currencies can go up or down, and can become valueless, and there can be a substantial risk that you lose money buying, selling, holding, or investing in digital currencies. Digital Currency Services are not currently regulated by the Financial Conduct Authority or any other regulator in the UK or South Africa. You should carefully consider whether trading or holding Digital Currencies is suitable for you in light of your financial condition.

How to keep your account safe:

Coindirect follows strict internal security practices aimed at keeping your cryptocurrency safe. It is however, important that you also take certain precautions to ensure that you are the only person with access to your account. If someone gains access to your account, your cryptocurrency may be at risk

Some of the most common methods that scammers may use to gain access to and perform unauthorised transactions on your account are explained below:

Account takeovers: Coindirect relies on your email address and phone number for communication with you. If someone gains unauthorised control over these, they could potentially gain access to your account. Please make sure to have strong passwords set on your email address.

Phishing: This is when you are tricked into revealing personal information, such as usernames, passwords or other sensitive information.

Phishing can take many forms, for example:

  1. Phishing emails: You may receive an email that appears to be from Coindirect but was actually sent by a scammer, asking you for information or leading you to a fraudulent website.
  2. Phishing websites: These websites are set up to look like Coindirect’s website, but everything entered there (like your username and password) gets recorded in order for scammers to access your actual Coindriect account.

Coindirect will never call, email or SMS/instant message you and ask you for your password. If anyone contacts you claiming to be from Coindirect and asks for this information, you should end communication and get in touch with us by contacting support.

Malware: This is an advanced method where scammers gain access to your devices through sophisticated software programs that allow them to take control of your computer, steal your passwords or other sensitive information.

Identity theft: This is when someone obtains access to your personal information and pretends to be you in order to, for example, open an account in your name and/or transact on your account. Identity theft may occur when your identification document, passport or other information is stolen (either physically, through phishing or by other forms of social engineering). There is also a risk of identity theft taking place when your device is stolen.

Measures you should take;

  1. Strong password security: Use a unique, strong password with at least 8 characters ( which should be a mixture of letters numbers and symbols ), and never share it or reuse it on other websites. Password managers make it easy to generate and store strong passwords.
  2. Enable two-factor authentication (2FA): This is an added level of security that requires a unique code every time you log in to an account. The code is generated by your device, which is required in addition to your username and password.
  3. Protect your email account: Keep your email account secure to ensure that nobody can access your Coindirect account through your email account. Most email providers support 2FA.
  4. Don’t share sensitive information: Coindirect employees will never ask you for your password, 2FA code, one time pins (OTPs) or ask you to authorise transactions.
  5. Check the URL: Before signing into Coindirect or clicking an advert, ensure that you are on
  6. Lock your account: If you suspect your account has been compromised, lock it immediately and then contact support.

If your account has been compromised:

If you believe your account has been compromised, please let us know by submitting a ticket to us as soon as possible.

Coindirect cannot be held responsible for a loss of funds where you have fallen victim to one of these attacks, as set out in our Terms of use, but we will do everything we can to assist you.