The rising of Cryptoscams.

Several Cryptocurrencies continues to creep up everyday and from everywhere.

The only problem now is that we may not know how legit most of them are.

Don't get me wrong, I am a huge fan of Cryptocurrencies because I know most of their benefits. I have even invested in some. But this does not annull the fact that some of them are Cryptoscams and i advice everyone around the world to invest wisely.

Initial Coin Offering (ICO)

When Cryptocurrencies are about to launch into the market, they start by offering ICO. This is an avenue where the masses have the opportunity to invest into the currency when the value is low and with the hopes that the value to skyrocket someday. This is good but the only problem is that if the value of the coin ever increase, most of the first investors, sell it off and run away. Then leaving the coin helpless.
Also the programmers of the coin many times, sell off the high volume of coin in their possession as soon as the value increases a little, they make the bulk of the money, run off to start another Cryptoscam

Advice: simply put Invest Wisely

Tips on where and how to invest

1. Run away from ICOs that make outrageous and unrealistic promises.

2. Check up the social media following. For instance, an ICO that needs 20 million dollars to scale and has a social media following after 2 months may not scale

3. Do all the necessary background check before investing

4. *Check up forums for free ICOs such as faucet and referrals (check up my last post before this for more info on that).

I would bring you more updates on Cryptocurrencies

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