Risk warning

This page explains the risks of buying, selling, holding and sending crypto-assets on Pitiklini. It is general information, not advice on what to do with your money. The short version is at the bottom of every page; here is the full one.

The essentials

Trading crypto-assets involves risk. Their price can go up or down quickly. You could lose some or all of your money. You may not find a buyer when you want to sell. Crypto-assets are not covered by the Spanish Deposit Guarantee Fund of Credit Institutions (FGD) or by the Spanish investor compensation scheme (FOGAIN).

• Nobody advises you or checks whether this suits you. Neither Pitiklini nor the service provider assesses whether crypto-assets are suitable for you.
• Past performance does not tell you what will happen. A price that has gone up will not necessarily keep going up.
• Do not put in money you cannot afford to lose, or borrowed money.
• The crypto-asset services are provided to you by the service provider, not by Pitiklini, as explained below.

The European supervisory authorities (EBA, EIOPA and ESMA) suggest asking yourself three questions before buying crypto-assets: whether you know their risks, whether the provider is authorised in the European Union and whether your devices and keys are secure. Their joint warning of October 2025 and their factsheet contain the official text. This summary was prepared using material from those authorities, which do not endorse it.

Who does what and who to complain to

• Pitiklini (PITIKLINI SOLUTION SL) provides the technology (the website and the app), manages your account, hosts and moderates the P2P ads, and supports users. It is not a crypto-asset service provider: it is not authorised to provide those services and is not supervised by the CNMV for that activity.
• Check it yourself. Before using a crypto-asset service, see whether its provider is on the CNMV register or the ESMA MiCA register.
• To complain about the crypto-asset services, use the complaints page; about Pitiklini, write to soporte@pitiklini.com.

What protects you and what does not

• There is no guarantee scheme. If something goes wrong, no scheme gives you back what you lose in crypto-assets: neither the Deposit Guarantee Fund nor the investor compensation scheme.
• There is no advice. Nobody recommends what to buy or checks whether a trade suits you. The decisions are yours.
• What the law requires of an authorised provider (the EU MiCA Regulation): to inform you clearly, handle your complaints, keep its customers' crypto-assets separate from its own and protect them. That protection depends on the provider being authorised: check it as explained above.
• Your money in euros is held by the provider or the payment institution it works with. Whether it is covered by any guarantee scheme depends on how it is held: ask the provider before leaving euros on the platform.

The price can fall a lot, and fast

• Crypto-asset prices change a lot, sometimes within minutes, and can fall to almost zero.
• There is no official price: each platform has its own, and crypto-asset markets do not have all the safeguards of a securities market.
• Be wary of promises of profits, of anyone pressing you to decide quickly and of promotion by influencers who may be paid for it.
• Some crypto-assets are complex: if you do not understand how one works, do not buy it.

You may not be able to sell when you want

• Liquidity. For a coin or pair with little activity, there may be nobody willing to buy or sell at the price you want, or for your whole amount.
• The gap between buying and selling. If you sell straight after buying, you get back less than you paid, on top of the fees.
• A market order executes at whatever price there is at that moment, which may be worse than the last one you saw; a limit order may never execute, and a stop-limit order may not execute if the price moves fast.

Stablecoins

• What they are. Crypto-assets that try to keep a stable value. E-money tokens are pegged to a single official currency, such as the euro, and can only be issued by credit or e-money institutions; they give you the right to have the issuer redeem them at face value. Asset-referenced tokens are pegged to several assets or currencies.
• They pay no interest: the law forbids the provider from paying you interest for holding them.
• They can lose their peg if the issuer has problems or what backs them fails.
• USDT (Tether) is not authorised as an e-money token in the European Union. ESMA asks providers to only allow it to be sold or withdrawn. The website does not offer it.

Your crypto-assets are held by a third party

• You do not hold their keys. Your crypto-assets are held by the service provider. It is convenient, but you depend on it: if it had technical, security or financial problems, you could take a long time to recover them or not recover all of them.
• Your Pitiklini balance is kept in the platform's records, and what the provider holds is checked against them regularly.
• What happens on the blockchain does not depend on the provider. A failure of the network itself, a fork (when a chain splits in two) or a bug in its software can affect your crypto-assets without anyone being liable for it.

Buying and selling with other people (P2P)

• The other party is a person you do not know. Pitiklini is not a party to the sale.
• You make the euro payment yourselves, directly, outside the platform: neither Pitiklini nor the provider receives or guarantees it.
• A payment you receive can be clawed back. The payer can ask their bank to refund a transaction they say they did not authorise, up to thirteen months later, and the bank refunds it straight away (Spanish Royal Decree-law 19/2018, Articles 43 and 45). If you release the crypto and the payment is then reversed, you can lose both.
• Only release when you see the money in your account, never because of a receipt, a screenshot or a message, which can be faked.
• Only accept payment from the person in the trade. A payment from someone else's account may come from a scam, and the bank could return it to whoever made it.
• Only talk through the trade's chat and do not continue the conversation elsewhere: if there is a dispute, the chat is what can be reviewed.
• Disputes are resolved by Pitiklini's team with what both parties provide, as explained in the Terms and conditions. While a dispute lasts, the crypto stays set aside.

Depositing and withdrawing

• A blockchain transfer cannot be undone. If you get the address, the network or the tag (memo) wrong, you can lose what you send.
• Use the right network. The same coin can exist on several networks; if you send it on one the platform does not support, you can lose it. Check the network before each deposit and each withdrawal.
• Transfers take time: they depend on the network's confirmations, and longer if it is congested. The network fee is paid by the platform and is already included in the withdrawal fee under Fees.
• Some withdrawals are reviewed before they go out, to protect you from fraud, and the law requires the provider to ask you for details of the destination. If you send more than €1,000 to a wallet of your own that is not held with any provider, it may ask you to prove it is yours (Regulation (EU) 2023/1113).

Faults, pauses and maintenance

• The platform may stop for maintenance, a technical fault or security reasons. Meanwhile, you may not be able to trade, deposit or withdraw.
• Open orders and P2P trades follow their rules: see the Terms and conditions.
• Under Status you can see whether something is not working and since when.

Cyberattacks, impersonation and scams

• People may try to trick you by pretending to be Pitiklini or the provider, by email, phone, messages or social media. We will never ask for your password, your codes, or for you to send crypto or money to "verify" or "unlock" your account.
• Beware of anyone promising to recover money you lost to a scam in return for an upfront payment: it is usually a second scam.
• Protect your account: a password you do not use anywhere else, two-step verification and the anti-phishing code, which appears in our emails so you can recognise them. More advice under Security.
• If you think you have been scammed, change your password, write to us at soporte@pitiklini.com, report it to the police and, if you need help, call 017, the free cybersecurity helpline of INCIBE, the Spanish national cybersecurity institute.

If a crypto-asset stops being available

A coin may stop being offered, for example if it no longer complies with the law, its issuer disappears, a security flaw is discovered or it loses liquidity. If that happens, we will tell you in good time, and you will normally be able to withdraw it to a wallet of your own or sell it before the date. It will not be converted to euros without your agreement.

Changes in the law, the provider or the platform

• The rules on crypto-assets are still changing, in Spain and in the European Union, and a change may affect what can be offered or how.
• The service provider could change. We will tell you in advance, and the Terms and conditions explain when you can leave free of charge.
• Some products are shown as "Coming soon": they are not available.

Taxes

This is general information: it is not tax advice, and it depends on your situation. Ask an adviser or the Spanish Tax Agency (in Spanish).

• For income tax in Spain, what you gain or lose when you sell a crypto-asset is a capital gain or loss, and swapping one crypto-asset for another also counts as a sale.
• You may have to declare them for wealth tax, depending on their value and your region.
• Form 721 is for crypto-assets held for you by a provider outside Spain, above €50,000.
• Providers must report their customers' transactions to the tax authorities, under the EU tax cooperation rules (Directive (EU) 2023/2226, known as DAC8), which Spain is incorporating into its law.
• The Basque Country and Navarre have their own rules.

Where to find out more

• The European authorities' joint warning and factsheet.
• The CNMV page on crypto-asset regulation.
• The CNMV and ESMA registers.
• Each coin's profile under Markets, with a link to its technical document.
• The Terms and conditions, the Conflicts of interest policy and the Fees.