DATCP Urges Caution On Cryptocurrency

State officials say you should think long and hard before investing your money into a cryptocurrency. State Consumer Protection Director Michael Domke says that unlike traditional securities or investments, there is little or no way to help people who get scammed.

“It is something that if it isn’t done right, isn’t done with foresight and research, that the ability for departments like ours to help you and recover those funds that you were scammed out of is it difficult to impossible.”

If you do want to take the risks on investing, make sure to discuss things with a trusted financial advisor before taking that step.