It doesn’t take long to realize that the new digital money known as cryptocurrency carries danger. And we’re not talking about market volatility. Scams abound online, including bitcoin exchanges. Furthermore, be mindful of the risk of losing your crypto assets while investing in startups and exchange platforms.
Experts advise confirming that digital bitcoin businesses and startups are blockchain-powered. Thus, which means they maintain comprehensive transaction data.
And what if the company you plan to invest in is not an actual company at all?
After six recent fraud reports, Delta police are advising people considering investing in cryptocurrencies to be cautious.
Most of the complaints came in August, according to a Delta Police Department press release. Also, the six files submitted to police have a lot of similar characteristics, police added. Most of the time, the fraudsters met their victims online via dating sites or chat applications.
Delta police said:
“When victims tried to withdraw their ‘profits’ or investment, the money was either gone, or the victim was informed they needed to pay considerable additional fees to access their money.”
Take Your Time Before Proceeding
Police advise potential investors to look up the name of the Investment Company or website to check if anybody else faced a similar scam. Investors should also avoid online advice from strangers, police advised.
Delta police advise investors to consult the BC Securities Commission and Canadian Securities Administrators’ websites for reliable information.
Scammers often announce bogus ICOs to steal large sums of money. Thus, avoid becoming a victim by fake emails and websites. Although, take your time and study the subtleties.
Certain Internet users use unsecured computer devices to mine or steal bitcoin. Before investing in bitcoin, learn more about keeping secure and safeguarding yourself.