1. Promises of guaranteed returns
"Guaranteed 1% daily profit!" ✅
Fraudulent projects like Bitconnect exploit the desire for quick profits.
Why do people get scammed?
- Lack of understanding of cryptocurrency volatility
- The temptation of easy profits, especially for beginners
🛠️ Specific solutions
1. Self-education: There are no guaranteed returns in a volatile market.
2. Ask the question: What is the economic model behind it?
3. Use CoinMarketCap to verify projects.
2. Low security of trading platforms
Mt. Gox, QuadrigaCX... platforms that caused users to lose millions of dollars.
For what?
Blind trust in centralized platforms.
- Little knowledge of secure storage solutions.
🛠️ Specific solutions
1. Use private wallets: Ledger, Trezor, etc.
2. Diversify your storage: Never invest everything on a single platform.
3. Demand platform transparency (audits, insured funds).
3. Projects without technical proof (VikaCoin)
Projects like OneCoin don't even have a real blockchain!
Why do people believe it?
- Complex technical jargon.
- Aggressive and emotional marketing.
🛠️ Specific solutions
1. Request technical proof: whitepapers, verifiable blockchain.
2. Read expert opinions (Reddit, cryptocurrency forums).
3. Analyze blockchain activity through BscScan or Polygonscan.
4. Multi-level marketing
PlusToken, BitClub Network... modern Ponzi schemes promise bonuses for each new member recruited.
Why does it work?
- The temptation of easy commissions.
- The illusion of a basic product.
🛠️ Specific solutions
1. Analyze the business model: If income relies entirely on new members, run away.
2. Ask the right questions: Does this product have a real use?
3. Beware of incentives for collective recruitment.
5. Lack of control over investments
Many people entrust their cryptocurrency without knowing if they really own it.
For what?
- The difference between custodial wallets (platform controls keys) and non-custodial wallets (you control) is often misunderstood.
🛠️ Specific solutions
1. Use non-custodial wallets: Metamask, hardware wallets.
2. Verify decentralization: reliable DeFi = open blockchain.
3. Learn to keep your private keys safe.
📈 Checklist to avoid scams
Before investing:
- Is there a product available or an active community?
- Is the founder identifiable and trustworthy?
- Is there an independent security audit?
- Is the model viable without new investors?
- Are well-known experts talking about this?
🚀 If you want to protect your investment, keep these valuable tips in mind and continuously educate yourself about the crypto ecosystem.
❤️ Finished!
I hope you like it.
