Common Types of Scams In Cryptocurrency


The field of Cryptocurrency is full of all kind of people . At one side if there are helping people the at another side numbers of people are ready to do scam with newbies in this field . 


Usually new comers enters in this field and at that situation they need more help and that results into became a victim by a scammer net .

So here we will tell about those common mistakes and scams that people do by mistake or by blind trust at unknown person.

Mining, Investment & MLM websites

Never go with that person who suggest you to invest your money at mining or MLM like websites or any same type of website where 10% or 100% you can get profit per month . All types of such websites are only scam or money rotation websites to steal your money .

It may be possible that a person giving suggestion to you may owned that website , so keep yourself away from such people.

Buy bitcoin at low price

This is a very common mistake that people did . In the very starting when a newcomer enter in this Cryptocurrency world then he came across a confusion that , why the price of bitcoin and another coin is highly fluctuating in this way he think that every website or platform creating illusion , so that people can buy Cryptocurrency at any price . After getting in this type of situation we talk other people at social media . 

At social media only that person will spent his time with you , who is ready to scam . 

Usually such kind of people will spent time with you to explain Cryptocurrency and bitcoin related things at social media and starts to give offer for you to buy bitcoin or Cryptocurrency at very low price then the market price . But actually they make fool to the newbies .

There are two chances, at one side they can take your Money and then will block you at social media , OR they will send you demo coins at TestNet wallet that have look like real bitcoin wallet .

New coin Investment

Usually when ICOs enters in the Cryptocurrency world then people became ready to invest with the hype and news idea that the project will go very high .

Mostly newbies don’t try to do own research about the ICo project , they don’t try to go at ICO website and don’t think that they can scam us very easily .

So all the newcomers in This field of Cryptocurrency are suggested that don’t do blind investment in any project.

Market Hype & News

In the year 2015 it was very easy to do trading because analysis was much easy task . In that time news and hyped that comes in the market was real and according to that we were able to make investment in particular coin to get profit and almost prediction also follow the prediction 80-90% easily .

But in present time it is not easy task to make analysis of the market up and down because Many big players spreads fake news & hype and take advantage of panic sellers .

So before to go with any type of hype and news , first research yourself about that in better way.

Don’t believe at known & unknown 

It remains easy for the scammers to steal the trust of newbie by giving help . They helps you to create wallets and accounts related to bitcoin and another Cryptocurrency  . 

And when you will make deposit fund at wallet , they will make transfer to their own wallet easily because there are lots of chances that they steal your backup phrase or private key of your wallet.

Registering account at new website

Don’t resistor your new account blindly because hat website may be a scam website. There are lots of chances that the website will steal your data and then will try to hack your another accounts at another platform.

Actually, They create a micro paying scam website that doesn’t pay you at the end but if that will pay then maybe that website can win your trust and can do scam at another platform without knowing you.

There are numbered of scenarios where we are not able to find out exactly that whether a website at which we are registering our account is genuine or not, so in that situation we always create account with different passwords at different websites.

We hope everyone will remain safe in this field of cryptocurrency with such information. If you found this post helpful in any way then do share and follow us at social media platforms .

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