Making Your First Cryptocurrency Purchase with IG
| Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more about the risk involved. [Approved by Archax 16/05/2025] |
Important: We are aware of an issue where iOS users may be unable to view the individual crypto assets in their portfolio. This is a known display issue only — client assets remain secure and unaffected. A resolution has been submitted to the App Store and will be deployed once approved. Please check for updates and install the latest version of the app to resolve the issue once available. |
What should I know before buying cryptocurrencies?
How do I set up my account?
To start investing in cryptocurrencies with IG, new clients need to complete an online application, submit identity documents, and verify their identity with a selfie. Existing clients can simply add a crypto account through your My IG Dashboard.
All clints must complete a cryptocurrency knowledge assessment. After verification, you will observe a mandatory 24-hour cooldown period before you can start investing.
After successful IG Crypto account verification, you can login and start investing available digital assets on the IG iOS/Android mobile apps, the IG Invest app, or the web platform.
What risks should I understand?
- Volatility: Prices can change by double-digit percentages within hours
- Security: Digital assets are vulnerable to hacking and scams
- Regulatory uncertainty: Rules vary globally and continue to evolve
- Technical complexity: Blockchain technology has a learning curve
- Market risks: Many crypto projects won't survive long-term
Responsible participation requires ongoing education, careful risk management, and investing only what you can afford to lose.
For comprehensive insights and detailed analysis on cryptocurrency risks and regulatory frameworks, click here. |
Am I protected when investing in cryptocurrencies?
- The Financial Services Compensation Scheme (FSCS) doesn't protect crypto investments
- Financial Ombudsman Service (FOS) protection doesn't cover poor investment performance
- FOS may consider complaints against FCA-regulated firms
If you are interested in learning more about how to protect yourself, visit the FCA's website. |
Can I sell my crypto whenever I want?
While you can theoretically sell cryptocurrency whenever you want, few factors can make it practically difficult in certain situations.
For instance, cryptocurrency markets face several liquidity-related challenges, including high volatility and technological constraints that can discourage market participants, reducing market depth and liquidity. During periods of extreme price movement, liquidity can evaporate quickly.
For popular cryptocurrencies like Bitcoin and Ethereum on major exchanges, liquidity issues are less common but still possible during extreme market conditions.
Network congestion, high gas fees (especially on Ethereum), or blockchain outages can delay or prevent transactions from being processed in a timely manner. Regulatory changes can also impact your ability to sell.
How do I place a trade?
How do I start investing?
After successful IG Crypto account verification, you can login and start investing in available digital assets on the IG iOS/Android mobile apps, the IG Invest app, or the web platform.
What order types can I use?
When you are ready to invest, you can choose between market order or limit order that allows you to target a specific price point for your transaction.
Order Type | Best Used When |
Market Order | You want immediate execution regardless of small price fluctuations |
Limit Order | You want to target a specific price point |
How do I confirm my transaction?
Before finalising your purchase, carefully review all transaction details, including the asset being purchased, quantity, price, and any applicable fees. Only proceed when you're confident all details are correct.
What happens after my purchase?
How do I view my holdings?
Once your digital asset purchase is complete, you can access your crypto portfolio through the My IG Dashboard. This provides an overview of all your cryptocurrency holdings. The platform enables real-time tracking of price movements and overall asset performance.
How do I manage my positions?
Initially, your purchased assets can be held indefinitely in your wallet or can be sold back to fiat currency when desired.
Important: Cryptocurrency assets may lose all value if market participants stop exchanging them. |
What technical considerations should I understand?
- Public ledger: Transactions are recorded on a public ledger and determine when a transaction is complete
- Decentralised ownership: Ownership links cryptocurrency to unique addresses defined by public cryptographic keys
- Private key security: Anyone with your private keys can transfer your assets
- Irreversible transactions: Transfers cannot be cancelled or reversed
- Limited platform visibility: When purchasing goods with crypto, the platform cannot control delivery or quality
- Limited recovery options: Fraudulent or accidental transactions may not be recoverable
- Protocol vulnerabilities: Blockchain protocols may contain undiscovered bugs
- Network congestion: High volumes can lead to delays and increased fees
Remember to take your time understanding these concepts before making your first purchase.
Cryptocurrency investing carries significant risks that must be carefully weighed against potential returns.
Before making your first purchase, it's essential to understand both the process and the associated risks. |
