SEC Advises Caution When Using Bitcoin And Other Crypto

Public investments come in various forms such as currencies, and investment but Bitcoin has been the biggest in modern times providing users with an alternative medium of making investments. While the cryptocurrencies may have much benefit, the SEC has announced its warnings on Bitcoin swisscoin and similar digital coins.

SEC

“The public should also be aware that any investment opportunities promoted by these persons, companies or entities are likely to be of a risky nature with a high risk of loss of money, while others may be outright fraudulent pyramid schemes,” the regulator noted.

In the wake of various operations involving MMM, warnings from the Central bank were compounded by the SEC, which has also advised against these operations. As many Bitcoin and crypto companies remain fairly unregulated, Bitcoin deposits may not be protected by governmental schemes. The MMM scheme has been explored on BTC.NG which may help you determine the security of these.

To conclude the SEC warning should be heeded by those looking to invest with cryptocurrencies. Due to their nature they may be much more risky when dealing with as refunds etc are not possible as currently these schemes are unregulated and will remain so till the official recognition of the digital currency. The commission also did explain how cryptocurrencies may be beneficial to have in portfolios but, due to its relative obscurity users will remain unprotected by legal regulations and legal procedures.

You too can obtain Bitcoin via the NairaEX exchange and have Bitcoin delivered within a matter of hours. The exchange incorporates web security to ensure funds are safely delivered to you.

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Written By

Hi I'm Aleppo Allesadero a experienced bitcoin user and educator. Having worked for over a year in the bitcoin journalism ive seen bitcoin grow from strength to strength asserting its power against fiat currency. Hopefully you too can learn about this exciting new prospect which may help transform the way we see finance and economy on a daily basis.

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