CRYPTO 101: What are the risks of investing in cryptocurrency?

Of course, with the excitement of any new financial venture comes potential risks for investors.

The Federal Trade Commission shared last year that 7,000 people had reported losses to fake cryptocurrency investments. The losses totaled more than $80 million. The report also noted that people between 20 and 30 have lost more money on investment scams than any other type of fraud.

The FTC cautioned cryptocurrency investors to be sure to research before investing, be wary of big promises or promotions, and said anyone who requests you pay by cryptocurrency, wire transfer, or gift card could be a scammer.

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