You also won't be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. This means it's unlikely you'd get your money back if the firm goes out of business."
I fully expect never to see my money again if any crypto services decides to run with it. That's why you shouldn't bring yourself in that situation in the first place. There's a reason to use some centralized exchanges, but there's are many better alternatives to this "freewallet".