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January 24, 2019, 05:20:47 PM |
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Towards the end of last year until now, we have been seeing a rise in the number of cryptocurrency exchanges that keep flooding this space. They come with various promises of token burn and buy back programs. Some do start by conducting airdrop and launching a referral programs making a compulsory KYC to beat cheaters.
It's worth of note that not all keep to their promises, as they dump massively on the market after a little pump to encourage investors to buy more of their tokens. After much dumping of their native token, they launch a trade driven mining program for their customers, rewarding top traders with their native tokens as a sign of loyalty to the system. My major concern is that some of these exchanges do list just any type of scamming coins without a proper review of the project and team, which they will later delist for lack of volume and project development continuity. This is done after these scammers must have made away with huge BTC and ETH by dumping their coin. Some of these exchanges sometimes don's trend has become a source of serious concern because of the security threat to some investors in area of: Identity theft (selling KYC to the dark web), email and login password possibility hack(never use same password for two exchanges and always install 2FA. Download Authy from the store) and finally the danger of a staging an exist scam.
Let us be very careful how we deal with new exchanges that seems to have questionable team and agenda.
Thank you all.t have traceable CEO, investors just trade by faith"lols!
Thank you all.
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