SEC Warns Investors of Risks Involved in Virtual Currency

The United States Security and Exchange Commission (SEC) has recently alerted investors to the risk in trading and using virtual currencies like Bitcoin.

The SEC released “Investments involving Bitcoin present unique risks” which states that governments and banks have no association with these virtual currencies and will not be covered by FDIC insurance resulting in unrecoverable losses.

The fraud risk is another issue specifically with Bitcoin investment schemes since the currency is so new that fraudsters do not yet fully understand the product and will be led by the "get rich quick" success stories.

The SEC recommends that investors thoroughly research virtual currencies and their markets prior to investing.
  • Images

    Cat50

      Superstar Member
    • female
    • offline

     spin time

    • 4099
      thanks given
    • 2443
      thanks received
    I have heard a little about Bitcoins but i am still not sure what the purpose of them is. Something new all the time.
  • Index

    ethereal

      Sr. Member
    • offline
    • 534
      thanks given
    • 138
      thanks received
    I've seen on Reddit and around the internet that some people believe that investing in Bitcoins (holding onto them) is a legitimate way to guarantee a fund for retirement. Some people seem to think that Bitcoins have an intrinsic value, which will definitely rise on the whole over time. This is not true and it is the nature of these things to fluctuate, and probably to collapse completely eventually...

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search
Search Results
39012170