Aussies looking to invest in boom cryptocurrency Bitcoin are being warned to carefully check the credentials of their trading platform after a spike in scams was detected.

Consumer watchdog Scamwatch today issued a warning to investors that scammers are frequently attempting to persuade Australians to invest in Bitcoin using too-good-to-be-true marketing strategies and tips.

“Thinking of investing in Bitcoin? Beware of scammers that take advantage of this being unregulated!” Scamwatch tweeted.

An example of a trading platform – Trade Capital FXT – that appeared to be real but really was a front for scammers to fleece unsuspecting investors. (Scamwatch)

“They may contact you on apps like Telegram and offer to show you how to trade.”

Scamwatch provided an example of a trading platform – Trade Capital FXT – that appeared to be real but really was a front for scammers to fleece unsuspecting investors.

Recent data by the Australian Competition and…

Read more…

RELATED ARTICLESMORE FROM AUTHOR