You won’t have the same level of disclosure of important information. Lack of regulation of crypto assets also limits your protection. Some CTPs claim to be registered businesses, but this isn’t the same as being registered with a securities regulator. Lack of regulation and protectionĪny person or company that trades or advises in securities or derivatives must register with a provincial or territorial securities regulator.Ī crypto asset trading platform (CTP), depending on how it operates, may be subject to securities regulation. When you exchange your crypto assets for traditional currency, they may be worth much less than when you bought them. These changes in value are hard to predict. Crypto assets are unstable and high-riskĬrypto assets, including stablecoins, are risky investments because their value may rise and fall suddenly and significantly. Learn more about crypto scams from Competition Bureau Canada. In some types of scams, fraudsters may demand that you make payments by using crypto ATMs. Fraudsters use Internet ads, social media or websites telling you to buy crypto assets and promising high returns. More and more scams focus on crypto assets. They can steal your keys and gain access to your wallets and your crypto assets. Someone may hack into the technology or platforms used for crypto assets, like online wallet companies or crypto exchanges. You may be a victim of hacking, fraud and scams Using crypto assets comes with many risks. Exchange fees and rates may vary from one crypto ATM to another. You may pay a transaction fee for using a crypto ATM. There’s no connection to your financial institution or the Interac network.
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