Investment Caution List
The BCSC publishes a list of unregistered and unqualified investments being offered in British Columbia.
The BCSC publishes a list of unregistered and unqualified investments being offered in British Columbia.
Home > Search results for ‘ What is an Investment Account?’ > Page 3 What is an Offshore Investment Scheme? These schemes come in many forms, but one common characteristic runs through them all: the promoters want you to send money out of the country. Once a fraud artist has moved the money offshore, they may move it two or […]
Kick off your investor journey by learning basic investing terms and topics. These videos can help you understand differences between saving and investing, how common investment accounts work, what it means to be a passive versus an active investor, and more.
Investing is a way people try to earn more than the interest a savings account provides by purchasing investments.
You have options when it comes to how you manage your investments. You can use a registered individual investment advisor, a robo-advisor, or look after your investments yourself through self-directed investing. Learn about each option below to decide which one might be right for you.
Home > Search results for ‘ What is an Investment Account?’ > Page 3 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 have one or more of the following properties: A medium of […]
A First Home Savings Account allows you to save for a down payment without paying tax on your account contributions or on your investment earnings.
We can help you focus your complaint, sort out which regulator to file it with, and understand what to expect.
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.
InvestRight is brought to you by the BC Securities Commission
The BC Securities Commission (BCSC) strives to make the investment markets benefit the public – enabling people to achieve their financial goals, enterprises to grow, and British Columbia to thrive.
Through smart rules, diligent oversight, strong enforcement, and reliable guidance, we act as guardians of the province’s investment marketplace, striving to make BC a place where people can invest with confidence and companies can flourish.
BC Securities Commission
701 West Georgia Street
P.O. Box 10142, Pacific Centre
Vancouver, BC V7Y 1L2
BCSC Contact Centre: 604-899-6854
Toll Free: 1-800-373-6393
Email: [email protected]
Connect with us
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:
Good job. You understand the basics of crypto assets! Because crypto assets are an ever-changing type of investment, there is always more to know. Check out InvestRight’s crypto asset resources to learn more about these digital investments:
Taking this quiz is a good start in assessing your knowledge. There is much to learn about crypto assets. This quiz is only an introduction to the basics. To find out more about crypto assets, check out some of the following resources:
Help others improve their knowledge of crypto assets.
Share BCSC InvestRight's Crypto QuizLearn about concepts such as diversifying your investment portfolio, investment fees, working with an advisor, and investing trends.
Get to know the fraud warning signs and learn how fraudsters target people with investment scams.
Sign up to receive emails and updates from BCSC InvestRight. We share valuable and timely information about a variety of investment-related topics.