How Crypto Could Help You Find Love – Motley Fool

Paying with Bitcoin may get you a second date.

Key points

• According to a survey, mentioning crypto on your dating profile can increase your chances of getting a date.
• However, talking about investment activity on social media can attract the attention of online criminals.

If you’re looking for love this year, talking about crypto could increase your chances of success. According to a recent survey of about 2,000 people by crypto broker eToro, a third of Americans would be more likely to go on a date with someone who mentioned cryptocurrency in their dating profile. In fact, more than 40% of men and 25% of women said a mention of crypto would increase their interest in a potential date.

For the love of crypto

Crypto can help on the date itself too. Almost three-quarters of respondents said they’d consider a second date with a person who paid the bill in Bitcoin (BTC). The survey also reported that paying in Bitcoin was of more interest to men than women.

eToro, which prides itself on its social trading products, also pointed out that 68% of people might date someone they met on a financial platform. eToro offers copy trading, a social news feed, and an open profile function where traders can share information about themselves.

Love is all around us — but so is cyber crime

Owning crypto — or talking about it — may well make you more attractive date-wise. But before you post online about your investing habits, be aware that this could also attract scammers. The North American Securities Administrators Association identified crypto scams and fraud as the biggest threat investors face right now.

As a crypto investor, there are several ways to protect your assets. These include using a secure cryptocurrency exchange, maintaining strong passwords, and turning on additional safeguards such as two-factor authentication. But our activities on social media can present additional risks. Here are some ways to protect yourself against them.

Don’t post about your investment successes

Advertising the amount of crypto you own on social media could be a beacon for hackers. Be vigilant about the personal information you share, and who you share it with. The less attractive you are to a prospective hacker, the less likely they are to try to steal your money. So don’t get so caught up in trying to seduce a potential date that you inadvertently attract the wrong type of attention.

Be aware of phishing scams

Phishing is where criminals pose as legitimate companies or organizations to try to trick you into sharing private information. For example, a phisher might email or call you pretending to be your crypto exchange or bank. They’ll use information gleaned from your dating profile, Facebook, or Instagram account to appear more legitimate. They might then ask you for your password or security information. Don’t trust any unsolicited contacts, even from organizations you invest with — no company should contact you out of the blue and ask for your password.

Social media posts can also trick you out of your cash by convincing you to invest in scam coins. You might see celebrities or influencers hyping a crypto, without disclosing why they are doing so. The celebrity in question may be paid for these promotions, or someone could be imitating them to deceive their fans.

It isn’t always a celebrity — sometimes a community of people create hype around a particular project. One common scam is called a “pump and dump” scheme, where promoters use false information to push up the price. The tricksters then sell their crypto when the price is high, leaving investors with tokens that are almost worthless.

Another scam is a rug pull, in which developers abandon a project and make off with investor funds. For example, last year over $3 million was stolen in a rug pull by the creators of a Squid Game (SQUID) token that had nothing to do with the popular Netflix series.

Crypto can’t buy you love

Cryptocurrency is one of many ways in which our lives are increasingly digital. We bank online, we socialize online, we find love online, and due to the pandemic, many people work online too. The trouble is that online criminals are ready to take advantage of all the personal information we share.

Talking about crypto investments on a dating app may make for a great conversation starter — but exercise caution. Just as waving your money around in a busy night club might mean you get robbed, so waving your money around online might put your assets at risk.