Many European countries periodically inform their citizens about the risks of cryptocurrency investments. EU regulators are also urging people to stay away from Bitcoin and other digital currencies.
Recently, the EU Securities and Markets Authority released a report in which it noted that investors who buy cryptocurrencies are at high risk.
The digital asset market is not controlled by anyone. Accordingly, you need to avoid it so as not to become a victim of fraudsters or lose money as a result of increased volatility.
The press service of the German Federal Financial Supervision Authority (BaFin) on Friday issued a similar statement warning citizens against activity on the crypto market.
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The regulator stressed that everyone who buys BTC or another coin should be aware of the associated risks.
In Germany, the process of gradual legalization of the cryptosphere is already underway. However, there is still no regulatory framework that would provide full protection for crypto traders.
BaFin analysts stressed that losses from investments in digital currencies could be 100%. Therefore, every German should think before buying such tools.