Online Investment Scams: How to Avoid a Scam on the Internet
Learn to avoid online investment scams.
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Learn to avoid online investment scams.
The BC Securities Commission is warning the public to look out for possible affinity frauds when using social networking websites that facilitate or advertise meetings related to investment products and seminars. Websites, like Meetup.com and Craigslist.org, allow people to create groups around investing strategies or advertise seminars for new investment products. “We are concerned scam […]
[…] using sophisticated tactics to try and rope investors into schemes. Investor Warning Videos: Crypto & Forex Schemes To help people better understand how to identify and avoid online crypto and forex website schemes, we’ve put together two videos featuring Chris Thompson, a BCSC investigator, who has direct knowledge of how these sites work. In […]
No matter how encouraging someone may be online, it’s important to check their qualifications and do a background check before investing.
Home > Search results for ‘Расстановки Расстановки семейные online Идущих на расстановки часто интересует:цена: читать: примеры:фразы.Записаться на расстановку skype:amt777′ Crypto assets are a type of digital asset. They use cryptography, peer-to-peer networking, and a public ledger to create new crypto offerings, and verify and secure transactions without a middleman or bank. Crypto assets often […]
Home > Search results for ‘Расстановки Расстановки семейные online Идущих на расстановки часто интересует:цена: читать: примеры:фразы.Записаться на расстановку skype:amt777′ What is a High-Yield Investment Program? HYIPs use websites to offer extremely high daily, weekly, or monthly rates of return. A HYIP website will have little information about the company’s location, management, or how it […]
Home > Search results for ‘Расстановки Расстановки семейные online Идущих на расстановки часто интересует:цена: читать: примеры:фразы.Записаться на расстановку skype:amt777′ Elder financial abuse is the most common form of elder abuse. It is defined as the unlawful or unauthorized use of an elderly person’s financial assets. It is also the act of pressuring an elder […]
[…] BCSC ng walang pinapanigan na impormasyon sa pamumuhunan sa pamamagitan ng website nito ng edukasyon sa namumuhunan, InvestRight.org. Nagbibigay ang website ng InvestRight.org sa mga namumuhunan ng mga online tool at impormasyon upang matulungan silang makagawa ng matalinong mga desisyon sa pamumuhunan at protektahan ang kanilang mga sarili laban sa hindi angkop o potensyal na […]
[…] interests and become better informed about investment products and services. The BCSC provides unbiased investing information through its investor education website, InvestRight.org. The InvestRight.org website provides investors with online tools and information to help them make wise investing decisions and protect themselves against unsuitable or potentially fraudulent investments. Saving and Investing Saving means putting money […]
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Cryptocurrencies and blockchain are the same thing.
Correct Answer: False
Blockchain is a type of digital ledger. A digital ledger records transaction information and then duplicates and distributes the information across the entire network of computer systems on that ledger. A cryptocurrency, on the other hand, is a digital asset that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
Regulators and law enforcement can’t trace cryptocurrency transactions.
Correct Answer: False
Cryptocurrency transactions can be traced. Though cryptocurrencies can be created, moved, and stored outside the purview of governments, regulators, and financial institutions, each transaction is recorded in a permanent fixed digital ledger. The ledger allows anyone who is plugged in to view the transaction history.
Cryptocurrencies are low-risk investments if you buy and hold.
Correct Answer: False
Many factors may make cryptocurrencies and crypto assets risky investments (e.g., cyberattacks and hacking, their speculative nature, liquidity, security, and volatility). Additionally, many crypto assets and online crypto trading platforms aren’t regulated in Canada. Securities regulators are working with operators of platforms to ensure they comply with applicable securities laws.
I can trade crypto assets through a registered dealer in Canada.
Correct Answer: True
You can trade crypto assets in Canada using registered cryptocurrency platforms. Cryptocurrency trading is legal in Canada, and you should note that profits are taxable as capital gains, or as income if you are classified as a day trader. You can check a platform’s registration by visiting the Canadian Securities Administrators’ website or by contacting a Canadian securities regulator to inquire.
Non-fungible Tokens (NFTs) are a crypto asset that people can collect and trade.
Correct Answer: True
An NFT is a digital asset that often represents real-world objects like art, music, and videos. NFTs are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptocurrencies. “Non-fungible” means that it’s unique and can’t be replaced with something else.
There is no difference between cryptocurrencies and crypto assets, these terms are interchangeable.
Correct Answer: False
The term “crypto assets” is generally used to reference a broad range of digital assets with a variety of properties and/or uses. The term “cryptocurrencies" refers to a specific type of crypto asset, which is generally designed to be used as a medium of exchange, similar to the way we use fiat currencies (a.k.a. government-issued money) to purchase goods and services.
Not all crypto assets are securities.
Correct Answer: True
Not all crypto assets are securities or are subject to securities laws. That said, the regulatory treatment of a particular crypto asset will depend on whether it is a security or derivative. Despite the fact that a crypto asset may not be classified as a security or derivative, the way they are bought, sold and/or traded can be subject to securities laws.
Bitcoin will retain its value and rise in price over time because there’s a limited supply.
Correct Answer: False
You could lose some or all of the money you used to purchase any crypto asset or cryptocurrency, including Bitcoin. Like many investments or financial assets, there is no guarantee that crypto assets or cryptocurrencies will retain their value or rise in price.
Cryptocurrencies can be used for payments.
Correct Answer: True
Some cryptocurrencies can be used for payments; however, it can be difficult, expensive, and/or slow. Their price volatility may also be a factor in an individual or business accepting cryptocurrency as a form of payment.
Crypto asset scams are among the most popular types of online investment scams.
Correct Answer: True
As the popularity and price of cryptocurrencies rise, so do the scams associated with these digital assets. The volatile, online, and often unregulated nature of crypto assets makes it easy for people to fall victim to fraud in a number of ways. For example, fraudsters use the anonymity of the internet to attempt to avoid detection by regulators or law enforcement.
Nice work. You have a good understanding of crypto assets! Crypto assets are a constantly evolving type of investment, so there is always more to know. Visit InvestRight.org to learn more about crypto assets, investment fraud, and other important investor education information with these resources:
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