What you need to know to protect your money and your heart!
For years, people have been looking to get rich quick. And it seems like scam artists have always been there ready to answer the call. And now with cryptocurrency, it’s even harder to trace.
What is cryptocurrency anyway?
Let’s try to break this down. A cryptocurrency, aka crypto-currency, or crypto is:
- A digital form of currency
- It’s a digital data string that converts to money.
- The money is instant and practically untraceable.
- It’s designed to work as an exchange of funds through a computer network.
- Not monitored by any central authority, such as a bank or the government.
- There are more than 17,000 different types on the market
Can you see why it’s attracting scammers in a big way?!
Inside track on a real-life scam story and red flags you can’t afford to ignore!
When a single man went on the dating app Tinder to find companionship, he was swindled through a sophisticated crypto investment scheme. He started communicating with a female who quickly advanced her interest in him and convinced the man to leave Tinder. Instead, they started talking through instant text messages. The conversation quickly turned to money and she persuaded him to invest his money with a legitimate crypto site. Eventually, she encouraged him to move his money from the legitimate site to a different website (where she provided the link). Many months later, he realized that the profits he thought he was making – weren’t real.
Sadly, this scam is becoming more common. You might see earnings, and even be able to withdraw money at some point. But when you want to withdraw the entire balance – and can’t – that’s when people are realizing that they’ve been a victim of a scam.
If someone asks you to make a crypto deposit at an ATM, don’t do it. No reputable company is going to ask you to make a deposit using just crypto. They will always have other options for submitting payment.
If you think it will never happen to you, you’re wrong! It can absolutely happen to anyone.