Previous | Five tips to help save money for holiday shopping Next | Preparing for a recession
December 05, 2023 / Ray Wills
Beware of cryptocurrency scams

Beware of cryptocurrency scams

Cryptocurrency, or crypto, is digital currency you get through an online exchange or at a cryptocurrency ATM. Bitcoin is the most well-known, but there are many others. Scammers prefer these because they aren’t well-regulated, they’re hard to trace, and payments usually can’t be reversed. They also are counting on what you don’t understand about it.

Scammers may call, pretending to be from a government agency, your bank, or a sweepstakes company, and say you need to pay a fine, taxes, or fees. Or maybe your online love interest needs you to send money for a medical procedure or other expense. They’ll direct you to your bank and the nearest cryptocurrency ATM andGraphic of a man chasing a giant coin on a hook. tell you exactly how to send the money to them. Sometimes, they’ll stay on the phone with you the entire time.

Beware of any text, email, or message on social media that tells you to pay for anything with Bitcoin – even if there is a guarantee that you’ll make money, win a prize, or have your money returned to you. This is all a scam. Every time.

Finally, if you want to buy crypto for yourself, take time to learn about how it works and use a reputable exchange service, not a cryptocurrency ATM that will charge you a fee of up to 20 percent.

Ray Wills is security officer at F&M Trust.

Recent Articles
Preparing for a recession
Preparing for a recession

Preparing for a recession

July 10, 2024 / Warren Hurt

The importance of renters’ insurance
The importance of renters’ insurance

The importance of renters’ insurance

July 03, 2024 / Laura Lowry

Teaching children how to budget
Teaching children how to budget

Teaching children how to budget

June 24, 2024 / Danielle Ritter

How to save money at the grocery store
How to save money at the grocery store

How to save money at the grocery store

June 19, 2024 / Lisa Hogue

Turning your hobby into a source of income
Turning your hobby into a source of income

Turning your hobby into a source of income

June 12, 2024 / Kia Treml

Is it time to sell your home?
Is it time to sell your home?

Is it time to sell your home?

June 05, 2024 / Katie Rittel

Seven tips to help you save for vacation
Seven tips to help you save for vacation

Seven tips to help you save for vacation

May 17, 2024 / Megan Witmer

Gig economy offers workers independence
Gig economy offers workers independence

Gig economy offers workers independence

May 14, 2024 / Shelby Yinger

Budgeting for home improvements
Budgeting for home improvements

Budgeting for home improvements

May 09, 2024 / Jenny Madden

Join our e-newsletter

Sign up for our e-newsletter to get new content each month.

NOTICE: YOU ARE LEAVING F&M TRUST!

You are now leaving the F&M Trust website. Links to third-party sites are provided for your convenience. Such sites are not within our control and may not follow the same privacy, security or accessibility standards as ours. F&M Trust neither endorses nor guarantees offerings of the third-party providers, nor is F&M Trust responsible for the security, content or availability of third-party sites, their partners or advertisers.