The former President, His Excellency John Dramani Mahama has denied ever endorsing any form of cryptocurrency.

In a Facebook post, the former President, who is currently the Flagbearer of the National Democratic Congress wondered if the claim was supposed to be a prank.

“Is that supposed to be an April Fool’s prank?”

He went on to deny ever dealing in the business or ever encouraging anyone to engage in cryptocurrency or bitcoin.

“I have never endorsed cryptocurrency and bitcoin trading. And I have not patronized or ever encouraged anyone to patronise it”.

H.E. John Dramani Mahama took the opportunity to advise his followers as well as the general public to disregard any claim of him endorsing any form of investment or cryptocurrency.

“Please disregard any endorsement attributed to me, John Dramani Mahama.”

Heres a screenshot of his post below>>>>

A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.

Cryptocurrency is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don’t have a central issuing or regulating authority, instead of using a decentralized system to record transactions and issue new units.

If companies or consumers move to a new cryptocurrency from you or stop using digital currencies entirely, it could lose value and become worthless. Cryptocurrency exchanges are vulnerable to cyber attacks, which could lead to an irreparable loss of your investment. Cryptocurrency can be vulnerable to scams.

What are the risks of Cryptocurrency?

The risks of trading cryptocurrencies are mainly related to their volatility. They are high-risk and speculative, and it is important that you understand the risks before you start trading.

They are volatile: unexpected changes in market sentiment can lead to sharp and sudden moves in price.

Price Change Risk. The price of cryptocurrency fluctuates constantly. …

Business Hours Risk.

Liquidity Risk.

Cryptocurrency Network Risk.

Risk of Losing the Private Key or Password of the External Wallet Services. …

System Risk.

Bankruptcy Risk.

In recent times, many fraudsters are fond of using the names of prominent people in society to lure unsuspecting people to invest in the business, which later ends up in huge sums of money lost.