Are Cryptocurrencies a Scam?

 Are cryptocurrencies a scam? This is the question that is bothering a lot of people, especially now that bitcoin and other cryptos have taken such a great space in the mainstream media. What are cryptocurrencies? How do you trade with it? Who are the people making huge profits? Which are the best cryptocurrencies to invest in?

What is cryptocurrency?

Cryptocurrency.

This word means a ton of different things to a lot of different people.

To most, it’s a thing on the internet that some people “supposedly” used to make money, through a series of activities that are beyond comprehension.

 other people, it’s a chance to change their lives and become rich.and then, there are those who have lost huge investments, and those who have become filthy rich in a short span of time by mining and trading with cryptocurrencies.What they all have in common is the fact that they know about crypto. What differs them from one another are the levels of knowledge on the su webject and the levels of action they took.


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Are cryptocurrencies a scam?

Absolutely not. And there is proof everywhere:

Billionaire, and owner of Tesla, Elon Musk, purchased a staggering $1.5 billion worth of bitcoins in Q4 of last year.

El Salvador has adopted Bitcoin as their national currency in September of this year.

If these 2 facts are not proof enough to anyone that crypto is a very real thing that is destined to make even more impact in the world, then I’d have to say that that person is not realistic.

If the financial move by a globally known billionaire (who is not exactly famous for stupid investments), and a country that has based its financial future on a cryptocurrency is not proof enough that crypto is indeed very real, and here to stay, then I don’t know what could be.

Just take into consideration all the people who have become millionaires in a relatively short amount of time thanks to these virtual currencies.

So, no, cryptocurrencies are not a big scam.

Having said that, there are ways that people get scammed and taken advantage of in the realm of virtual money.

1 – Fake websites as cryptocurrency scams

It is surprising how many websites have been created to blend in with legitimate and original startup companies. If there is no padlock symbol in the URL field, which indicates that the connection is secure, and the site address does not begin with “https”, think carefully.

Even if the site looks identical to what you think you are visiting, you may be directed to another platform for payment. It can happen, for example, that you click on a link that looks like a legitimate site, while the attackers have created a fake URL with a zero instead of an ‘o’. This platform, of course, will not allow you to make that cryptocurrency investment you have already documented on. To avoid these problems, type the precise URL into your browser. Also, check a second time.

2 – Fake mobile apps as cryptocurrencies scam

Another common way scammers deceive cryptocurrency investors are fake apps, available for download on Google Play and the Apple App Store. While stakeholders are often able to locate and remove these apps, that doesn’t mean the apps have no impact on the budget. Thousands of people have already downloaded fake cryptocurrency apps, Bitcoin News reported.

Although the risk is greater for Android users, every investor must be aware of this possibility. Are there obvious spelling errors in the copy or even in the app name? Does the trademark appear to be counterfeit, with strange colors or a wrong logo? Take this into account and think carefully if you still want to download it.

3 – E-mail scam as cryptocurrency scam

Even if an email you received looks identical to the one you received in the past from a legitimate cryptocurrency company, be careful before investing. Are the email, logo, and trademark the same? Can you verify that the email address belongs to the company? To do this, it is important to choose a company where real people work. If you have concerns about an email, ask someone who works for that company. And never click on a link in a post that directs you to a site.

Scammers often announce fake ICOs, or initial coin offers, in order to steal sizable funds. Don’t be fooled by these fake emails and offers on websites. Take the time to go through all the details.Tese are the most common 3 methods scammers use to trick people, but there are other ways as well. The point is: be careful.

How can I learn to trade with cryptocurrencies?

Only by knowing what you are doing (having knowledge) will you be able to successfully trade on the crypto market. There are updates you must follow, predictions you should be able to make…

But, the average person doesn’t know what crypto really is, or blockchain, or crypto wallet, let alone know how to make an educated guess on the movements in the crypto market.

That’s why I say: If you don’t know a thing about cryptocurrency – copy someone who does.

You are surely thinking: “Is there such a person who is willing to share his knowledge and help me make money with cryptocurrency?”

Lucky for all of us who don’t understand a damn thing about crypto, the answer is yes!

Your next questions might be: “Is this a legit operation? Is there a track record of him being successful?”

The answers are again: Yes!

“Who is this person? How do I get in touch with him?”

I thought you’d never ask!