Cryptocurrency risk warning

Everything I publish here and in my videos is educational and opinion content. It is not financial, tax or legal advice, nor a personalized recommendation to buy, sell or hold any crypto-asset. To recommend something to you I would need to know your situation, your goals and your risk tolerance, and I don't.

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This is NOT financial advice. It's my personal analysis. Always do your own research.

My opinions are personal and reflect what I thought on the day I recorded each video. The market changes, and an opinion from six months ago may not hold today. This website does not provide investment services or manage anyone's money.

Crypto-assets are highly volatile: their price can fall or rise sharply in a short time, even overnight, and there is no guaranteed minimum price. EU law itself requires white papers to warn that a crypto-asset may lose its value in part or in full, may not always be transferable and may not be liquid (Article 6(5) of the MiCA Regulation).

European supervisors put it bluntly in their joint warning of October 2025: “You may lose a lot, or even all, of the money invested.” In plain terms: only invest money you could lose entirely without it changing your life. If a 50% drop would keep you up at night or force you to sell, the amount is too big.

Regulation (EU) 2023/1114, known as MiCA, has applied in full since December 30, 2024, and it is the framework that applies to you if you live in Spain or elsewhere in the EU. In Spain, the transitional period ended on July 1, 2026: since then, according to the CNMV, only crypto-asset service providers authorized by the CNMV or by another EU authority may operate.

A nuance many people miss: MiCA's protections apply to the entity authorized in the EU, not to other companies in the same group. A platform can operate under the same brand through several companies and countries, so check your contract to see which entity is providing the service. There's more context in the guide on exchanges and MiCA. And watch out for the halo effect: in July 2025, ESMA warned that a platform's MiCA licence can create false reassurance about other products it offers that MiCA doesn't regulate, and asked for all its marketing to state clearly what is regulated and what isn't (ESMA statement).

Futures, perpetual contracts and CFDs on cryptocurrencies multiply gains, but they also multiply losses. With 10x leverage, a move of around 10% against you is enough to wipe out your entire margin, and liquidation usually comes sooner because of fees and the maintenance margin.

The regulators' data is clear. When ESMA restricted CFDs for retail clients in 2018, national regulators' analyses showed that between 74% and 89% of retail accounts lost money on CFDs in general, with average losses per client of between €1,600 and €29,000. Among other measures, it capped leverage on cryptocurrency CFDs at 2:1 (ESMA press release).

What's more, MiCA does not regulate derivatives, which are financial instruments subject to MiFID II, as the CNMV points out. And ESMA warns that services from firms outside the EU come with even fewer safeguards, a higher risk of fraud and very little room for redress. If you're interested in trading, start with the guide on risk management.

Just because something has gone up doesn't mean it will keep going up. Past performance is no guarantee of future returns, and in crypto, previous cycles are a weak guide.

Some of my videos, especially the technical analysis ones, set out scenarios or price targets. They are hypotheses based on a chart at a specific moment, not promises or recommendations, and they may not play out. If a video gets you excited, check its date and see what happened next.

This website contains affiliate links. Right now they are for three companies: the OKX exchange and the official Ledger and Trezor stores. If you open an account or buy through them, I may earn a commission at no extra cost to you. Pages that include them say so at the top with an “Advertising” label, and every offer box carries its own notice. The details are in the legal notice.

Having a commission involved is exactly why I also tell you the downsides. OKX operates in the EU through OKX Europe Ltd, authorized under MiCA by Malta's financial regulator, but in 2025 it was sanctioned in the United States and in Malta. Ledger and Trezor have had customer data leaks (never seed phrases), and in October 2026 tampered Ledger devices sold by a reseller in Southeast Asia were discovered: that's why I only link to their official stores. And I don't link to platforms without a MiCA licence, such as Binance or Bitget, which since July 1, 2026 may not provide services to residents of Spain.

Descriptions of videos I published up to August 2026 may still include a Bitget referral link. Bitget has no MiCA licence: if you live in Spain, don't use it. And a platform being mentioned in a video doesn't mean it's right for you: always check that it is authorized and read its terms before opening an account.

1. 01

   Look up the authorization

   Check the CNMV register of crypto-asset service providers and ESMA's interim MiCA register, which lists authorized providers across the EU.

2. 02

   Check the warnings

   Search for the name in the CNMV warnings about unauthorized firms, the so-called chiringuitos financieros (boiler rooms).

3. 03

   See who signs your contract

   The brand isn't enough: check that the company providing the service is the one listed as authorized.

4. 04

   Read the white paper

   It contains the mandatory information and warnings about the crypto-asset. Keep in mind that no authority approves it, and responsibility for its content lies with whoever publishes it.

5. 05

   Protect your keys

   If you hold your crypto yourself, nobody can recover it for you if you lose your seed phrase. If you leave it on a platform, you depend on that platform. The guide on hot vs cold wallets helps you decide. The security section covers the rest: wallets, seed phrases and scams.

Wherever there are promises of quick money, there are scammers. The CNMV sums up the red flags in its ten tips to avoid financial boiler rooms:

• Calls, emails or messages you didn't ask for.
• Pressure to invest right now, psychological pressure included.
• High returns with no risk.
• Sign-up bonuses or schemes where you have to recruit other people.
• Contacts who exploit personal trust or a community.
• Use of the CNMV's name or logo: the CNMV will never invite you to invest.

Also be wary of any profile that uses my name or image to ask you for money, passwords or your seed phrase. My official channels are the ones linked from this website, and no legitimate person will ever ask for your seed phrase.

If it has already happened to you, don't keep paying to “recover” the money. Report it to the police (in Spain, the Policía Nacional or the Guardia Civil) and notify the CNMV. The guide on crypto scams walks you through the steps in more detail.

From my channel (in Spanish): mistakes, scams and failures worth knowing about

12:34

7 errores que ARRUINAN a los principiantes en cripto (evítalos antes de perder dinero)

Jul 21, 2026 · 45 views

6:32

Las 3 Peores Criptomonedas de 2026 | No Inviertas Aquí

Sep 6, 2026 · 639 views

7:15

¿Qué ha pasado con Coldcard? ¿Tú dinero está en peligro?

Aug 5, 2026 · 79 views

• Be clear about your goals and your financial situation.
• Understand how what you're buying works. If you can't explain it, don't buy it.
• Make sure you can bear the total loss of what you invest.
• Check the provider's authorization and read the white paper.
• Protect your private keys and your devices.
• Factor in taxes: the guide to crypto taxes in Spain explains them.
• If in doubt, contact the CNMV or an authorized adviser.

For the details of this website's owner, see the legal notice.