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US consumer agency warns of several Bitcoin risks

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US consumer agency warns of several Bitcoin risks

Comment:Users beware subject to hackers and scammers investing in Bitcoin


By Grant Gross
August 11, 2014 02:52 PM ET

IDG News Service - Bitcoin and other virtual currencies can expose users to a number of risks, including hackers and scammers trying to take advantage of hype surrounding the technology, a U.S. consumer protection agency warned Monday.

Bitcoin and other popular virtual currencies such as XPR and Dogecoin offer fewer consumer protections than traditional banks or credit card providers, the U.S. Consumer Financial Protection Bureau (CFPB) said in a consumer advisory. The six-page document appears to be aimed largely at new users of virtual currencies, and it includes an explanation of virtual currencies and an advisory on how to buy them.


ComputerWorld/ Full Article Here/

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