There’s no doubt that the world of cryptocurrency is growing remarkably fast. And it’s no surprise that scamsters will lock unto this endless opportunity like a heat-seeking missile. Even one of the most widely known cryptocurrencies, Bitcoin, is no exception to this threat.
However, with the cryptocurrency market growing very rapidly, have it in mind that scamsters are becoming more sophisticated than Ponzi schemes. And before you invest in any of them, try to explore the following unconventional red flags that indicate a cryptocurrency is a scam.
- 1. The cryptocurrency has no local exchange, only internal exchange
- 2. The cryptocurrency always appreciates in value
- 3. No solid background information about the cryptocurrency
- 4. When a cryptocurrency promises a significantly huge and consistent return.
- 5. The cryptocurrency does not satisfy the fundamental characteristics
- 6. They depend strongly on referrals and commission
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