June 23, 2021
Scam/Fraud

Beware who you give your savings to when trading cryptocurrency

CAPE TOWN – WITH THE Bitcoin and other cryptocurrency prices smashing through all-time highs this year, and the fact that the market is unregulated, it is little wonder that a growing number of scammers are seeking to take advantage of naive investors.

The Bitcoin price went well over $60 000 (about R840 000) in both February 2021 and April 2021 due to events that included Tesla announcing it had acquired $1.5 billion of digital coin, while the listing of the US’s biggest crypto exchange, Coinbase, also fuelled crypto prices.

Crypto currency prices have, however, been volatile of late, after speculation about US government regulation sent…

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