Connect with us

Bussiness

‘My son is buying crypto by giving money to trader he met on Instagram’

Published

on

‘My son is buying crypto by giving money to trader he met on Instagram’

Your Questions Answered

Cryptocurrency investment is high risk. Stock photo: Getty

Gráinne Griffin, director of communications at the ­competition and Consumer ­Protection Commission

Q My son recently started his first job and says he is now “investing” in cryptocurrency. He’s been talking to a crypto trader who contacted him on Instagram and has paid €250 into an account. He thought this money was his to start trading with. As it turned out, the €250 was just a joining fee to get into a Telegram group, and he needs to deposit more money into this account to actually start trading. The trader recommended adding between €250 to €500 to his account to start with. I’m very sceptical. Is there a way to check if this trader is legitimate?

Continue Reading