What should one know about Bitcoin trading to avoid the risk of getting scammed?

[charlotte04]

My classmates asked that question and the professor kept on talking about the probability of getting scammed but he's really against the whole crypto-currency movement so his opinion is biased.
So...here I am, asking for guidance...

It is so easy not to be scammed at all. You just have to avoid being dumb and don't get hype all the time from easy money schemes. Or even put all of your funds into a safe hardware or something.

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[Diced90]

My classmates asked that question and the professor kept on talking about the probability of getting scammed but he's really against the whole crypto-currency movement so his opinion is biased.
So...here I am, asking for guidance...

For one, scamming is not only common in crypto, its everywhere. If you are to apply this kind of logic, then you should never cross the road because there's a chance you could be killed. Its all about you acknowledging the risk and being careful. The internet has a lot of opportunities but these can also be misfortunate at the same time.

[CryptoPowerL]

Indeed, there are a lot of scammers among the cryptocurrency user community. This is due to the fact that this sphere of activity is not regulated by the state. In many countries, cryptocurrency is not officially a means of payment; therefore, it is impossible to punish fraudsters

[JealousCup]

For one, scamming is not only common in crypto, its everywhere. If you are to apply this kind of logic, then you should never cross the road because there's a chance you could be killed. Its all about you acknowledging the risk and being careful. The internet has a lot of opportunities but these can also be misfortunate at the same time.

I get it but with the price of bitcoin reaching new lows each and everyday, I don't even have to worry about scammers but rather about the risk of no returns on my investment. It's kind of disappointing, if we consider the lengths we went to in order to make cryptos an official mean of payment in so many countries.

[faceoff97]

People usually got scammed when they store funds in a closed source software or system. This made users have no control of their funds, closed source software like exchanges are prone to scam and risk of losing. Its always good to consider not to store funds on close source storage or Atleast transfer it immediately to you own hardware or opensource wallet. Electrum or Hodler wallet will do to secyre your funds.

[Renaldi blackspadeteam]

of course choosing the safe and legit crypto market, you can choose it at coinmarketcap.com
professors may not have experience about crypto, and labeling all crypto is fraud, this is a shameful act that I heard, I suggest to investigate before giving a stamp without sufficient knowledge

It's fine, I am already interested in Virie, but for a moment I was unsure because of how my professor was telling us that virtual currencies will disappear in two years.
Well, this is not what I am seeing, cryptos are now being accepted at an awful lot of places.

of course buddy, it seems I don't agree that virtual currency will disappear in the next two years, I think cryptocurrency and virtual money can be used together in the future, because paper money is quite troublesome but all of them have advantages and disadvantages

[omonuyak]

You cannot be scammed through trading but you can lose your investments through it.  Trading needs skills and intelligence how how to go about it and without skills and experience you cannot makes money from trading.  Many lose because they always takes trading as a gamble but the two are quite different.

[davinchi]

If it is scammed because of buying something from a shady place you can get scammed for risking it. Take an example of buying an iphone for example. If you want to buy an iphone and apple sells it for 999 dollars and you found online an ecommerce website that sells exact same thing for 800 dollars instead, you are risking 800 dollars for 200 dollar profit.

You have to ask yourself if the amount is worth risking for the profit, do you think 800 dollars is worth the 200 dollar profit ? Would you be upset over 800 dollars more than you would be happy about the profit of 200 dollars ?

Depending on the answer you can change the amounts and items places and put crypto related scam subjects you have instead and answer again. Do this method anytime there is a possibility of getting scammed and you will be fine.