Scams

NASAA is an American organization that deals with global investor protection. Recently, the organization revealed that crypto investment is among the top five investors’ threat in 2020. This report got collected through a survey of the state and provincial securities regulators within the US, Canada, and Mexico. These American organisation relied on investors’ complaints, current investigation, and regulatory trends to predict the leading investor threats in 2020. The other top areas of concern are promissory notes, real estate investments, Ponzi…

The word scam is often applied to dubious startups and Initial Coin Offerings (ICOs)/Initial Exchange Offering (IEOs) within the cryptocurrency community. When the project lacks practical usefulness and the business idea behind it is suspicious, such projects are often referred to as scams. Compared with other ways of stealing money, the main feature of a Bitcoin scam is that it usually takes advantage of people's trust and negligence. Currently, the cryptocurrency market is not regulated enough to protect people from…

For a much-maligned product, cryptocurrency has grown to hold its own. As of January 2021, CoinMarketCap estimated around 20000 cryptos in circulation. Their proliferation is affording users options in both payments and investments. Whereas this growth is welcome, it has its fair share of risks. Chief among them is the rise of scam projects. The number of coins on offer is taxing to pick the authentic projects from the dubious ones.  Luckily, there are telltale signs that help separate the…