Risk warning
Crypto-assets involve significant risk. Please read this warning before you use, hold, buy, sell, transfer or receive crypto-assets through Coinsonnet, and before you enter into any agreement with us.
Crypto-assets can be risky and your protection, if any, may be limited.
European Banking Authority, EIOPA and ESMA, Warning on crypto-assets, 6 October 2025.
Article 81(9) of Regulation (EU) 2023/1114 (MiCA) requires crypto-asset service providers to warn clients and prospective clients of the following. We treat all five as material information and disclose them for every crypto-asset service we intend to offer — not only for portfolio management or advice.
Crypto-asset prices can rise and fall sharply and without warning, including over very short periods. Sudden price fluctuations may occur at any time, including while a payment, conversion or transfer is being processed.
You may lose part of, or all of, the value you hold or transfer. Losses can also arise from operational events such as sending funds to a wrong address, or from the permanent and irreversible loss of access if private keys are lost.
Crypto-asset markets may experience liquidity constraints, which could limit your ability to sell or convert a crypto-asset at the price or at the time you want. Liquidity can disappear quickly, and some crypto-assets may become impossible to sell.
Crypto-assets are not covered by the investor compensation schemes established under Directive 97/9/EC. If we were unable to return your crypto-assets, no compensation scheme for investors would reimburse you.
Crypto-assets are not deposits and are not covered by the deposit guarantee schemes established under Directive 2014/49/EU. Holding a crypto-asset balance is not the same as holding money in a bank account.
Coinsonnet is a trading name of Spectro Finance AS (under the transformation), a company to be established in Tallinn, Estonia. Crypto-assets are not financial instruments for the purposes of the investor protection provided by the Estonian Guarantee Fund Act (Tagatisfondi seadus), and they are not deposits for the purposes of the deposit guarantee provided by that Act. Neither the investor protection sectoral fund nor the deposit guarantee sectoral fund of the Estonian Guarantee Fund (Tagatisfond) covers crypto-assets held with us. This is a material difference from traditional financial instruments and bank deposits.
Some crypto-assets and related products are aggressively promoted using information that is confusing, incomplete, inaccurate or deliberately misleading — especially on social media, where influencers may be paid to promote a crypto-asset.
Fake crypto-asset schemes, hacks and scams are widespread. Fraudsters use phishing, social engineering and malicious links, promise unrealistic returns, and falsely claim to be authorised or regulated. We will never ask you for your private keys, passwords or recovery phrases.
The features and risks of crypto-assets, and of products with a crypto-asset underlying, can be difficult to understand. Do not buy or use a crypto-asset if you are unsure how its value is determined or what risks it carries.
Losing the private keys to crypto-assets results in permanent and irreversible loss of access and ownership. Crypto-asset transfers generally cannot be reversed, cancelled or recalled once they have been broadcast to a network.
Distributed ledgers may fork, congest, halt or fail, and network fees can rise sharply. The legal and tax treatment of crypto-assets differs between countries and may change, including in ways that affect your ability to use or dispose of a crypto-asset.
Crypto-assets may not be suitable for all persons as a form of investment, payment or exchange. Only use amounts you can afford to lose, and consider whether the risks are worth taking given your own objectives and financial circumstances.
The European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority have published a joint warning to consumers about crypto-assets. We encourage you to read it in full before using any crypto-asset service.
Coinsonnet is pre-launch and is not yet providing crypto-asset services. Applications for authorisation as a crypto-asset service provider (CASP) under MiCA and as a payment institution (PI) have been submitted to the Estonian Financial Supervision and Resolution Authority (Finantsinspektsioon) and are under assessment. Until authorisation is granted, no MiCA protections apply to services from us, because we will not provide those services. You can verify whether any provider is authorised in the EU using the ESMA register.
So that this warning is not easy to miss, it is presented in the following places: