THE value of cryptocurrency EOS has gone up by almost 50% in the past 24 hours to hit £9.41 ($13.31).

But what is EOS and why is the price going up? We explain all you need to know.

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We explain all you need to know about cryptocurrency token EOSCredit: Getty

Before we get to that, a word of warning: buying cryptocurrencies, like any investment, is a risky business and making money is never guaranteed.

You should make sure you know the risks of investing in cryptocurrencies and that you can afford to lose any money you put in.

Cryptocurrencies are highly volatile, so the value of your investments can go down as well as up in the blink of an eye.

As always, never invest in something you don’t understand.

5 risks of crypto investments

THE Financial Conduct Authority (FCA) has warned people about the risks of investing in cryptocurrencies.

  • Consumer protection: Some investments…

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