Crypto warning: THREE things experts want you to be aware of about cryptocurrency
The Financial Conduct Authority (FCA) published research this month which found 2.3 million people have crypto assets in the UK, a sharp rise from 1.9 million people last year.Express.co.ukspoke to cryptocurrency experts about some of the major risks involved with investing in cryptocurrency.
Crypto scams
As the cryptocurrency market has expanded, many people have fallen victim to crypto scams.
Cryptocurrency expert Erica Stanford, lecturer in cryptocurrency at Warwick Business School, crypto network founder and author of Crypto Wars: Faked Deaths, Missing Billions and Industry Disruption?, toldExpress.co.uk: “The most spoken about is the risk of falling victim to one of the many scams affecting the crypto space.
“Sadly, as with any emerging technology – but it’s far more extreme in the space of digital money, where gains can be high – many opportunists have taken advantage of the hype and there are many scams out there, often vast and very sophisticated.
“These scams use clever marketing, often multi-level-marketing, and stop at nothing to target their victims. One has to be alert.”
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