Digital competence entails the healthy, safe, and responsible use of digital technologies to take engage in society, to learn, work and to interact with. However, the use of digital devices is not exempt of risks. The objectives of this study were to analyze the mediating effect of fear of missing out (FoMO) on phubbing and nomophobia, and to explore the perception of the use of Internet-connected devices among 522 Spanish university students, with an average age of 27.11 years. The 80.8% are women and 68.2% study degrees related with Educational Sciences. A mixed-methods approach was used, combining bivariate correlation with structural equation modelling (SEM), and qualitative content analysis. SEM analysis revealed that FoMO had a significant effect on nomophobia and phubbing. Qualitative content analysis underlined that the time spent, problematic use, and sense of dependence were the main concerns for participants. It is emphasized that the plethora of ICT opportunities exposes individuals to risk contexts, necessitating media education to mitigate psychological and social consequences stemming from Internet risks.