WNY FEDERAL CREDIT UNION
How To Avoid Cryptocurrency Scams
Crypto fraudsters rely on people’s unfamiliarity with this new currency to steal their money. You can take a few simple steps to stay safe and keep your funds secure.
Don’t trust big claims about huge returns and do not accept “free” money or crypto. As ever, if it sounds too good to be true, it’s probably a scam. And remember, cryptocurrency accounts are not insured by the government. Funds at traditional Credit Unions or banks are insured by the FDIC up to $250,000 but crypto lacks that protection.
For more information, check out this article from the FTC.