List Of Cryptocurrencies Scams To Avoid Before Investing
If you’re looking to invest in cryptocurrencies, you need to know the scams and what not to do. In this post, I’m going to show you a list of some red flags that will help keep your money safe and sound.
My Name is Robert and I’ve been investing in cryptos for over 5 years now. It’s important that before we dive into the meat of this video, we understand how it can be very confusing sometimes when trying to figure out which coins are good investments or just outright scams. So let me walk through all these different points with you so that by the end of this video, you’ll have an idea of how crypto trading works without getting scammed!
Investing in cryptocurrencies is a risky business.
It’s terrifying to think how many people have lost their life savings because of these scams-please don’t let it happen to you!
We’ve compiled a list of the most common cryptocurrency scams so that you can avoid them before investing in anything. You should never trust a shady-looking website with a .com address, and always make sure you do your research on any coin before you put your money into it. These are just some of the things we’ll be talking about in this blog post.
Hi, The Crypto Cell is an education organization that helps newcomers learn about cryptocurrency investing so they can invest and trade responsibly and safely with our expert advice on diversifying your portfolio, buying low, selling high, and avoiding scams.
1. Fake ICOs that are set up to steal your money
You can’t always be sure that an online cryptocurrency wallet is safe. A recent study found out that there are many fake ICOs in the crypto space which will take your money and run with it! For example, hackers managed to steal about $80 million dollars from users back in 2017 through one such phishing scam — “The Wolf of Wall Street” (2017). So if you’re looking into investing some funds make sure they come recommended by reputable sources or have a strong security system like two-factor authentication enabled so this doesn’t happen again…
2. Non-existent exchanges or wallets where you can buy cryptocurrencies
Cryptocurrencies are not yet established enough to have their own exchanges. If you want to buy some digital coins, your best bet is usually going through an existing one like Coinbase or Kraken which will allow beginners, as well as seasoned traders alike, access with the ease of use features that make navigating the market easier than ever before!
3. Websites that offer fake cryptocurrency giveaways in exchange for personal information, such as a phone number and email address
Websites that offer fake cryptocurrency giveaways in exchange for personal information, such as a phone number and email address are nothing new. They popped up all over social media earlier this year when more people than ever before began investing their money into cryptocurrencies like Bitcoin or Ethereum. Websites promising free coins often ask users to provide sensitive data including bank account numbers which can result in identity theft if submitted without care.
4. Stay away from any cryptocurrency that is not on a major exchange
Stay away from any cryptocurrency that does not have a major exchange such as Binance or Coinbase
The safest way to invest in cryptocurrencies is by purchasing them on an established platform. These exchanges offer insurance policies and security measures so your funds are protected against hacks, bots, malware attacks, etc., which may affect other platforms like Local Bitcoins where you buy gold with bitcoin.
5. Avoid cryptocurrencies with only whitepapers and no code
To be a successful cryptocurrency, you need to know that there are some things in this world that cannot be trusted. The first thing is the developers of your favorite coins and tokens — they might just disappear with all their money! Be sure not only do they have an idea but also code behind it so no one can steal away what belongs to yours or take advantage when something goes wrong (just ask anyone who invested in Bitcoin). So next time someone tries selling you on an Altcoin without any info available other than whitepapers, please remember this cryptocurrency scams list and make the right decision for yourself!
6. Be careful of shady exchanges or trading platforms
There are many exchanges and trading platforms out there that can be dangerous to your coins. Make sure you only trade on established websites with transparency into their system, otherwise it might end up being a losing battle for them in the long run!
7. Check the team behind the coin, their experience, and how transparent they are about their project
There’s no better way to invest in cryptocurrency than by checking out the team behind it. If you want a safe haven for your money that will be sure to have value 10 years from now, then coins with experienced teams are worth looking at!
Cryptocurrencies are in a state of constant flux, and new scams pop up constantly. It can be difficult to know what is real and what isn’t when it comes to this emerging technology. The best thing you can do for yourself before investing is read everything you can on the subject, research every coin thoroughly, and only invest in currencies that have been around for at least one year with a solid market cap — these will likely not disappear overnight like most cryptocurrencies. If all of this sounds intimidating and you want help enacting these principles, let us know. Our team of experts is ready and waiting to partner with you to create a stellar SEO or marketing plan that drives sales by considering how your customers think. Which cryptocurrency has captured your interest?
If you’re interested in learning more about how to invest in Bitcoin so it can be part of your diversified portfolio, then consider reading our free crypto investing ebook which will teach you everything from A to Z. You may also want to look into other cryptocurrencies such as Ethereum if you’re looking for something else worth investing in outside of Bitcoin. With all this information we hope that we have helped make your decision easier when it comes down
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