Is cryptocurrency safe?

It’s important to know that:

  • Cryptocurrency can be volatile, meaning its value can rise and fall — sometimes quickly. This means it may not be suitable for all investors. 
  • Blockchain technology, which is becoming increasingly popular, is designed to offer unparalleled security in protecting the integrity of cryptocurrency information. However, it is not immune to hacking.
  • There are no government safety nets. Cryptocurrency is not issued by a central entity like a government or a corporation. So holding cryptocurrency is different than holding a traditional bank deposit or a security (like stocks and bonds):
    • Crypto assets are not insured by the FDIC (Federal Deposit Insurance Corporation), which insures bank deposits up to $250,000 per person in the unlikely event of a bank failure. 
    • Crypto assets are not secured by SIPC (Securities Investor Protection Corporation), which insures securities and cash in an investment account up to $500,000 in the unlikely event of a brokerage failure. 

 

 

 

 

*Cryptocurrency transaction and custody services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC. When you enable MoneyLion Crypto, you must also agree to the Zero Hash LLC and Zero Hash Liquidity LLC terms and conditions and enable your Zero Hash account. Cryptocurrency balances are not covered by FDIC or SIPC insurance.

MoneyLion is a financial technology company, not a bank. RoarMoney℠ demand deposit account provided by, and MoneyLion Debit Mastercard® issued by, MetaBank®, National Association, Member FDIC. RoarMoney is a service mark of MoneyLion. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International. Funds are FDIC insured, subject to applicable limitations and restrictions, when we receive the funds deposited to your account.

The cryptocurrency assets in your Zero Hash account are not held at MoneyLion or MetaBank. MetaBank and MoneyLion are not responsible for the cryptocurrency assets held in any Zero Hash account. Neither MoneyLion, nor MetaBank, is involved in the purchase, sale, exchange of fiat funds for cryptocurrency, or custody of the cryptocurrencies.

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