Understand how cryptocurrency scams work?

[ethereumhunter]

Cryptocurrency scam will have so many models that can scam people easily if they can not be careful. The easy thing that you should pay attention to is when you read about the offers that promise to give you a big profit in the short term because that is not impossible, although that can be possible if you have more info or data about that. But mostly, if they give offers like that, you should stay away from them and don't even try to ask or join them. There will be many other ways that the scammers will use to scam people, so be careful.

[celot]

I have seen many scammer try to get much profit from cryptocurrency and I think looks very easy how to make investor scam with investing in cryptocurrency, I know many investor still interested with ICO project and make big news with your ICO project list on bigger exchange like Binance, Bittrex and Houbi, almost investor will trust with your ideas and you should listed you coin above on bigger exchange then when many investor buy coin during ICO and after trading you can sell all your assets and make price dump, this the way what did by many scammer of ICO and coin project, its not give guarantee although coin listed on Binance like happen with Sushi coin when developer sold more than 50% coin supply price from $5 become 0.8$, very bad impact for investor.

[pelumi20]

An intriguing idea, however shockingly there are various methods of scam and we can see the quantity of scammers that we find in the market. Numerous projects with a solid team and essentials of development and abruptly the developers vanish with all investment from investors. Be that as it may, information and strong examination are the ideal reason for not falling into scams

[plvbob0070]

Needless to say, they can’t permanently remain in using a specific approach in deceiving investors. As the different fraud techniques become familiar in the public, which implies that they have to look for alternative ways to continue their scheme. In such a way, people won’t suspect anything. Regardless, we have to be vigilant as they make innovative changes with their techniques and understand that scams can happen in different ways.

[Kupid002]

I see many people offering the same scheme mostly in province where Bitcoin is not so popular and not known they explain about Bitcoin and how the price increase that way . And then offering investment to earn bitcoin or other coins that they say that can be a Bitcoin someday in their explanations. The most victim they had is those people who doesn't even know what Bitcoin is and no knowledge how it's actually works.

[orengitu]

Most of the Bounty hunters understand how crypto currency works. In order not to scammed by people you will have remove any traces of greed and understand the principles of life saying Rome is not build in a day. To understand scam project there must be research carried out, most of real cryptocurrency comes with both investing and hard work.
Note that: there's no free money anyway.

[Silberman]

unrealistic profit from any site link will indicate as a scam my friend
so, you don't need to be worry, if you drop your money in good and solid altcoins project now,
and always do your own research before invest in any cryptocurrency project
regards

Another very obvious tell that a site or a coin is a scam is that they promise guaranteed returns on your investment, while no one can do anything like that, those that have traded for years or even decades despite having success in the markets will tell you that they cannot guarantee profits of any kind, after all if the market is not moving how are they going to generate profits in that case? Honest traders and investors will display their previous success but will always put a disclaimer somewhere on their website that past results do not guarantee future performance.

[Wapfika]

Scammers are skilled and bright Person and just happen that they choose to use their ability in Wrong manner in which scamming .

Those Big time scammers are well organized and i believe same groups are running around this market and just Continue Creating different approach to Victimized crypto investors.

What we need to do is understand their ways and make sure that you are familiar so you won't get Hooked by them.

Hopefully it's not a modus made often by scammers, as long as there are people who keeps thinking that crypto is an easy money, many will be tempted to join in like projects and ruin every investment plan they have jsut to be able to join  always be careful since price were volatile and market is too decentralized we don't have no  one to blame when things went wrong but it's only us,every scammers have their on way and style so we must have our own measures to not be a victim.

[coin-investor]

Another popular scam technique is called an "initial coin offering (ICO).

It's still a popular way to scam people, there are new projects coming out using ICO, but not all projects that does this are scammers right away, you have to figure out if they really are, some of them are copying other project's whitepaper and some employ fake profiles and fake credentials and they are lying about on their roadmap.

[Yatsan]

There are different ways on how cryptocurrency scams work and those evolve as time goes by for the fact that scammers are getting wiser to think of other possible ways on how they will execute their scheme which is the aim or main goal is of course to obviously scam people which is more specifically targeting newbies or inexperienced people that still do not have any prior knowledge on how cryptocurrency do work. Scams can be commonly executed through projects, site promotions and even strange emails and personal messages offering you to invest into such crypto to give you a big bunch of profit in return which is obviously impossible. It is better to make yourself aware and be knowledgeable enough to determine those common and obvious schemes to avoid getting caught in a scam and ended up being victimized by those scammers in crypto world.

[Rengga Jati]

The basic things that scam works are commonly like giving incertain information about the project, but they offer very promising reward and also projects. That seems to be unrealistic. Moreover, the uncleanness of the project development, whitepaper, and also team will also make the project seems suspicious.
And what happens here is that there are many people deceived o this high reward to get.
Sometimes, investors are confused about deciding which is a scam and which is a legit project. And if you choose the one with unrealistic project, rewards, and also promise, it may be closed to the scam projects. Additionally, it is also about scams done in many more media like social media Youtube, Telegram, and also other media. They look like the same, giving very high opportunity to earn much money with easy ways, depositing first, and others.

[tbct_mt2]

Quoted for future reference (if needed).
Archived.

Your post is very similar to this article https://theconversation.com/how-cryptocurrency-scams-work-114706
Next time don't just paraphrase some article without citing the source.

Paraphrase or text spining and did not leave a source link. Plagiarsim. Honestly when I saw OP, I searched and found plagiarism (same article as you found), then I scroll down a few posts and saw your plagiarism report.

[TIPS] to avoid plagiarism
About scam methods, I have
Collection of comprehensive guides on identify and avoid scam projects

[rhomelmabini]

Another popular scam technique is called an "initial coin offering (ICO)." A potentially legitimate investment opportunity, ICOs are essentially a way for startup cryptocurrency companies to raise money from future users: In return for sending active cryptocurrencies like bitcoin and ethereum, customers are promised a discount on new cryptocoin.

Having an ICO doesn't make the coin/token a scam, most big market cap coins/tokens have ICO on their end but look where they are right now. IMO, the most successful one is Ethereum https://icodrops.com/ethereum/ and that's almost x2000 gains to those hodlers of ETH this time around. But we can say that almost 90% of those that conducting an ICO will turn out to be a scam.

[Johnyz]

Another popular scam technique is called an "initial coin offering (ICO)." A potentially legitimate investment opportunity, ICOs are essentially a way for startup cryptocurrency companies to raise money from future users: In return for sending active cryptocurrencies like bitcoin and ethereum, customers are promised a discount on new cryptocoin.

Having an ICO doesn't make the coin/token a scam, most big market cap coins/tokens have ICO on their end but look where they are right now. IMO, the most successful one is Ethereum https://icodrops.com/ethereum/ and that's almost x2000 gains to those hodlers of ETH this time around. But we can say that almost 90% of those that conducting an ICO will turn out to be a scam.

Not all ICO but you can easily say if the project is scam under the ICO program and this is why scammers are also trying to do a project under IEO and DeFi because this is the new trend now. We have to understand how the scammer works and take our necessary precaution before investing into a project, if you are doubt with the project you can easily ask here if the project is legit or not, don't rush things to invest on new project whether its ICO, IEO, DEFI you have to analyze it.

[rhomelmabini]

Not all ICO but you can easily say if the project is scam under the ICO program and this is why scammers are also trying to do a project under IEO and DeFi because this is the new trend now. We have to understand how the scammer works and take our necessary precaution before investing into a project,

ICO programs or their whitepapers aren't mean to say they're legit some of the time even those strong projects and has strongest way to success almost end up pulling the rug, same as this DeFi and IEO. What I want to emphasize is most of the projects do tend to fail it's on the investors end to be responsible on where they put their hard-earned monies.

if you are doubt with the project you can easily ask here if the project is legit or not, don't rush things to invest on new project whether its ICO, IEO, DEFI you have to analyze it.

It's not that this forum could provide you of all the answers to all of your questions since not all crypto projects are in here but yeah we have an extensive helpful members here that might give us an idea of a certain project. My advice is always DYOR, responsible investing and always take the risks.

[pedrillo0]

Yes, criminals are also online now.

They wear attractive masks to lure people in and steal their bitcoins.

It's unfair, but it's the best way to learn. I too have lost thousands of dollars.

PlusToken, OneCoin among others are the biggest scams in the crypto world.

I share with you is a good article: https://es.beincrypto.com/conoce-6-cripto-estafas-mas-grandes-historia-hasta-2020/

[swiftbits]

This is such a great summary. These are most of the things I experience throughout my first 2 years in crypto. It's a great share for anyone willing to start, just for them to avoid the usual bad scenario, but there's always a catch for the innovation, new ideas come, as well the scams/fraud trying to catch-up.

Just do the research first, or experience it first hand and get the lessons learned.

[bittick]

Scammers are skilled and bright Person and just happen that they choose to use their ability in Wrong manner in which scamming .

Those Big time scammers are well organized and i believe same groups are running around this market and just Continue Creating different approach to Victimized crypto investors.

What we need to do is understand their ways and make sure that you are familiar so you won't get Hooked by them.

Most of scammers aren't that bright. It's those hackers who stole for example from smart contract by exploiting that have bright mind or high intelligence but most of scammers usually just luring innocent peolpe using the most basic social engineering into tricking all those people.
Trust me, if these so called scammers were really bright then they don't go around scamming people but instead make something and make money out of it but nah. Their only skill is to scam people and just that.

[West0813]

Not all ico project that are release are scam. There are still some good projects. But people need to study the project very well. And made some research. So that we must not victimize by scammers.

[Helpme_please]

Not all ico project that are release are scam. There are still some good projects. But people need to study the project very well. And made some research. So that we must not victimize by scammers.

research is the key for us, we should not be lazy to analize any project that occur in market recently. maybe some of them will provide high opportunity for us , but maybe they could lie to us and take our money. in any market we will face two condition , and could not avoid it.