RE: Steemit Crypto Academy Contest / S6W5 - Common Crypto Scams And How To Avoid Them
M> earlier investors and creating a never-ending cycle of fraudulent payments.
That's so true . The 4 spot signs are adorable.
The price of the coin may not rise or may even drop significantly.
Yes that holds true even for genuine ICOs .
that as the pyramid gets larger, it becomes harder to find new members and eventually collapses, leaving the people at the bottom with nothing.
That's a new concept for me and thanks for enlightening is.
creation and use of fake and illegal wallets to extort crypto coins from users.
Good luck
That's correct as far software wallets are concerned. Wallet scams are even seen with hardware wallets as well. In hardware wallet scam devices carrying malware are created to implant viruses into the investors devices like computers etc that are otherwise used to access crypto exchange and wallets and funds are extorted thereby. These wallets blende normal standard devices . So to avoid such scams one must always go for standard device .
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Curated by : @steemdoctor1
You have made very valuable remarks here dear friend. Truely, even some genuine ICOs experience cases of price decrease and drop. Most cases or crypto scams are hard to spot given the fact that they are very similar to legit platforms. Nevertheless, we just need to make proper research before venturing into any crypto project.
Thanks for your wonderful time and support here, I really appreciate boss❤️:-)