The recent uprising in the scam accusation in cryptocurrency has drawn my possible attention toward investors (Newbie); who are most vulnerable. Many conviction based on this has gone viral and have come up with an idea that looks pretty good for investors (Newbie) to look out for before they take any decision toward their investment in any project or scheme in this industry. Cautioning cryptocurrency investors (Newbie) of potential scammers around the industry, who claims that their scheme is “risk-free”, “absolutely safe” and “guaranteed profit” are hallmarks of a fraud.
Ensure to watch-out for these phrase from those scammers and when detected never invest in such project or scheme, they are all Ponzi Scheme.
Kindly add your opinion.
Scamming and frauding has been around before the era of blockchain and Bitcoin but we are seeing another level of it now especially since people now see Bitcoin and cryptocurrencies' investment as a new window of making money fast. It is true that people take advantage of this in 2017 to become rich by investing blindly into some projects that get a pump in 2017 and some of them got huge returned on investments. The scammers used this opportunity to bring out fakes projects and since they have marketing agents that help them in promotions on social media, some of them were able to gather a lot of funds from the public and runway with such funds. Thank you, op for this point you have risen and I will advise newbies to be careful.
