Get Out Of Debt Guy Show

Today we need to have an honest discussion about the largest growing scam category. Once you finish learning about it in this podcast, you will have to help spread the word to friends, family, and people you know. Don’t let them become a victim. Although cryptocurrency has yet to become a mainstream payment method, reports to the Federal Trade Commission show it’s an alarmingly common method for scammers to get peoples’ money.  Since the start of 2021, more than 46,000 people have reported losing over $1 billion in crypto to scams – that’s about one out of every four dollars reported lost.  That’s more than any other payment method. The median individual reported loss? A whopping $2,600. Bitcoin was the most prevalent requested cryptocurrency by scammers. Seven out of ten requests were for Bitcoin, 10 percent were for Tether and 9% were Ether. As big as those numbers are, they still don’t give us a complete picture of the scam losses with crypto. The vast majority of frauds are never reported so if