With the rise of cryptocurrency and blockchain, scams have become more common. Everyone wants a piece of crypto and to benefit from the potential earnings it can make. The harsh truth about crypto is that it is one of the riskiest investments to make, and with more fraudulent activity surrounding crypto it is much easier to lose money than gain money from cryptocurrency.
The main problem with digital currency scams is that the money lost from them is extremely hard to get back. Often, some people can retrieve their money back through investment fraud lawyers, however for those early into their cryptocurrency investment strategy, they are most susceptible to being fooled by scammers.
Here are some common cryptocurrency scams and how to avoid them:
This is a classic scam where early investors are paid returns with the funds collected from later investors. They usually offer high returns with …