The Federal Trade Commission provides the following advice on its website on how to avoid crypto rip-offs. Much of it matches up with other sources.
No one should ask you to pay for something in advance with cryptocurrency. Cryptocurrency payments do not come with legal protections, like debit cads and credit cards. If something goes wrong — meaning you don’t get what is promised — you are probably out of luck.
Before buying something with crypto, research the seller’s reputation. For instance, a search of Ryan “Brody” Crawford’s Miami-Dade court online record would show lawsuits over sizable bum checks written on a defunct account.
Only scammers will guarantee profits or big returns.
Never mix online dating and investment advice. If you meet someone on a dating site or app and they want to show you how to invest in crypto or ask you to send them crypto, run.
Other pitfalls
A so-called “investment manager” contacts you out of the blue. They promise to grow your money — but only...
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