What you need to know before investing in crypto

[kimjoo11]

A news from ABS-CBN, a Filipino Media and Entertainment Group.

MANILA - An investor who saw a 39,000-percent increase in his bitcoin investment warned on Monday that many cryptocurrency investment schemes right now are scams.

Emerson Fonseca, Philippine head of NEM Foundation, told ANC's Market Edge that since he started trading bitcoin 2 years ago, a lot of scams have cropped up because people don't understand cryptocurrencies.

What are your opinions?

[1713488835]

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[LigwagGanern]

A news from ABS-CBN, a Filipino Media and Entertainment Group.

MANILA - An investor who saw a 39,000-percent increase in his bitcoin investment warned on Monday that many cryptocurrency investment schemes right now are scams.

Emerson Fonseca, Philippine head of NEM Foundation, told ANC's Market Edge that since he started trading bitcoin 2 years ago, a lot of scams have cropped up because people don't understand cryptocurrencies.

What are your opinions?

If you want to invest in crypto you need to know, what is crypto and what type of crypto will you invest. There is so many crypto in the world and there is legit and scam digital currency. If you choose now what crypto you will invest, be sure that it is legit and many people know about that. So that if you have a question about your crypto, you can ask someone who know about that. Therefore you will be updated what happen to your crypto.

[dothebeats]

That's actually true seeing that the recent busts related to crypto investments are bosses of the NewG scams and other similar ponzi schemes. The people who fell victim in these scams are the ones who were lazy enough to blindly trust large sums of money on other people without doing background checks and checking sources. Most people nowadays are looking for quick and easy money, which, at most times lead them towards something that will take their money away instead of profiting. With the cryptomarket gaining a lot of attention due to the gains it offers, many scammers use the term in order to lure people who look for the same opportunity but don't know how to start.  If only people would take time to read before spending money on such, I don't think there would be people who'd fall for such tricks.

[cosmo1]

Learn the basics of cryptocurrency.They are many cryptocurrency first try to know which are all good cryptos.They are many scams so analyse the cryptocurrency is legit or not then analyse the rates of cryptocurrency for few days before investing.If you are okay with the analyse and after understanding cryptos then invest.

[bakujo0817]

Emerson Fonseca, Philippine head of NEM Foundation, told ANC's Market Edge that since he started trading bitcoin 2 years ago, a lot of scams have cropped up because people don't understand cryptocurrencies.

i agree with this many people only thinking that they can earn on bitcoin not even understand is bitcoin thats why many scammer taking advanstage on people that dont understand at all on crypto.

[Queen12]

Indeed, most people do not understand the cryptocurrency market.
Most ICO projects seem to be more of a scam, so I don't recommend any ICO.

[Jody.Drummer]

before going any further it must understand what is crypto tujaun and the reason is also how big its role in handling the investment hence need to anticipate that how safe if we do investment dibitcoin because so many mode of blind and wrong fraud then there must be deep understanding. before doing that and when we already understand it should do for the future, do not just look at the benefits offered but how we respond to what will happen

[GabrielBrandon]

you must nedd to know about the market and the coins very well.

[Marlo Stanfield]

A news from ABS-CBN, a Filipino Media and Entertainment Group.

MANILA - An investor who saw a 39,000-percent increase in his bitcoin investment warned on Monday that many cryptocurrency investment schemes right now are scams.

Emerson Fonseca, Philippine head of NEM Foundation, told ANC's Market Edge that since he started trading bitcoin 2 years ago, a lot of scams have cropped up because people don't understand cryptocurrencies.

What are your opinions?

Well it's definitely true. It's not really new information either. While it really depends on how you define 'scam' exactly, there have been countless altcoin related scamming going on for at least 5 years now. It's just now that it's exploded with this whole 'ICO' thing. But before that there have been all kinds of shady characters creating, pumping, and dumping altcoins. This forum has all that history written down and stored for the ages too. It's been a constant thing in this community.

[Kamote_1102]

if someone wants to invest in Bitcoin, he needs to take time and study first. everyone should understand all the advantages and disadvantages of investing in the crypto world. if you can, ask someone you know who already invested in Bitcoin. do not invest with a huge amount of money. invest a small amount. an amount that you are ready to lose in case that you have been scammed.

[Kotone]

A news from ABS-CBN, a Filipino Media and Entertainment Group.

MANILA - An investor who saw a 39,000-percent increase in his bitcoin investment warned on Monday that many cryptocurrency investment schemes right now are scams.

Emerson Fonseca, Philippine head of NEM Foundation, told ANC's Market Edge that since he started trading bitcoin 2 years ago, a lot of scams have cropped up because people don't understand cryptocurrencies.

What are your opinions?

Its important to be vigilant especially when it involves money. Not all that offers the glory of huge returns are true and sometimes these are just baits made from the to gues of schemers and scammers. What we need to establish is the fact that before making any decision we would have to study first and take a lot of information from a lot of respurces. We can ask people and that is the beauty of this forum as it is a community weher we can share such things

[jamisky]

Before you invest in cytocurrencies you have to do a full market survey there ar a long of scam coins out there you look at how popular the coin is how many people have actually invested in it to be on a safer side. And timing of purchase because the market is very volatile nowadays.

[komrobert]

Yeah, there are a lot of scams right now. They were and they will be while fraud in cryptocurrency world is not getting punished by the law.

[darkangel11]

Of course he's right. That is why we shouldn't invest in any schemes, just put our money into a cryptocurrency of our choice and only go after established cryptos, not some new forks and coins that promise incredible acceptance by mainstream companies. We've seen too much of that already.
They should stop scaring people off because an average reader will scan the headline and remember 2 words "cryptocurrency" and "scam".

[collision00]

That is in reality evident seeing that the ongoing busts identified with crypto ventures are managers of the NewG tricks and other comparable ponzi plans. The general population who fell casualty in these tricks are the ones who were sufficiently languid to indiscriminately put stock in vast totals of cash on other individuals without doing record verifications and checking sources. A great many people these days are searching for snappy and pain free income, which, at most circumstances lead them towards something that will take their cash away as opposed to benefitting. With the cryptomarket picking up a considerable measure of consideration because of the increases it offers, numerous tricksters utilize the term so as to draw individuals who search for a similar opportunity however don't know how to begin. On the off chance that exclusive individuals would set aside opportunity to peruse before burning through cash on such, I don't think there would be individuals who'd fall for such traps.

[Moiyah]

How disappointed that people may just bragged bitcoin's name just to scam innocent people. Little did these people know, that bitcoin is tradable to make a profit out of it, disregarding the networking scheme invitations. Emerson Fonseca did a good job for warning people not to just easily believe on those traps as we can see how far bitcoin's popularity is going, right now.

[Kakmakr]

A news from ABS-CBN, a Filipino Media and Entertainment Group.

MANILA - An investor who saw a 39,000-percent increase in his bitcoin investment warned on Monday that many cryptocurrency investment schemes right now are scams.

Emerson Fonseca, Philippine head of NEM Foundation, told ANC's Market Edge that since he started trading bitcoin 2 years ago, a lot of scams have cropped up because people don't understand cryptocurrencies.

What are your opinions?

You get Investment schemes where the name Bitcoin is used and then you get Bitcoin investment where people actually buy and sell bitcoins. There is a huge difference between the two, so you must make sure that you invest directly in Bitcoin, by buying and selling the bitcoins yourself and not through some fake investment scheme/scam.

I have seen many of these so-called Bitcoin Investment schemes that pop up, promising fixed profits < like 2% per day > and this must immediately raise the red flag. Do not let some unknown financial website, handle your Bitcoin investments, because they are not buying and selling bitcoins. <They are typical Ponzi schemes - Money from new investors are paying the interest of other investors, until the new investors dry up and then they disappear with all the invested money. >

If you want to invest in Bitcoin, buy the bitcoins or Alt coins on a reputable exchanges.  

[Herbert2020]

apart from a bad translation from Philippines to English, it is mentioning a good but obvious point. because bitcoin has a lot of potential it has been performing well and will continue to do so. this made a lot of scammers want to come in and earn a lot of it by scamming others. these scams are from spreading malware, to running scam services. and then with introduction of ICOs and how easy it is to scam people that way they switched there to continue ripping people off.

[sakahayang]

It is true, before we will invest to cryptocurrency we should first know the project that will be run. basic understanding of the cryptocurrency market into capital to invest. do not ever invest if we do not understand what is cryptocurrency.
with the news it, may reduce the scheme of fraud in investing.

[saaayyyeeel]

Those who are being scammed are those people that are greedy as well, they wanted an easy return and easy profits from their investments, if you are cautious and prudent, you cannot be scammed. Bitcoin itself is not a scam, it's the scheme that made by those thieves are the scam.