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What Types Of Cryptocurrency Scams Are There?

If you have fallen victim to a cryptocurrency scam, you’re not alone, and millions of people around the world have been taken advantage of by these swindlers. Furthermore, a total of 1.7 billion dollars was lost to cryptocurrency scams during 2018 in the US alone.

  • Stay away from any initial coin offering that guarantees that the cryptocurrency will take off.
  • Make sure that there is plenty of accurate information about the coin that’s being created, and if insufficient information is offered about the cryptocurrency, it may be a scam.
  • Be on the lookout for shady practices, including market manipulation and insider trading.
  • If you find that the bulk of investments in the altcoin are from a singular individual or organization, this is a major warning sign.

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