10+ Cryptocurrency Fraud and Scams You Need to Pay Attention to

Cryptocurrency is not exactly a contraction that has just been born; The idea of ​​a decentralized digital resource was conceived in the late 1980s by David Chaum, the American cryptographer whose work sparked the information revolution that provoked Bitcoin, Blockchain, Altcoin and a whole new way of consider monetary transactions. .

But cryptocurrency fraud is one of the imminent dangers of this new digital opportunity. In this way, you can make sure that you do not fall into the trap.

The birth of Bitcoin
Ecash, the first form of cryptocurrency and Chaum's original idea, was launched in 1983 to replace paper money. Digicash, the company that regulates this new "non-physical" monetary activity, has raised more than $ 10 million in ten years.

The idea was good and the idea of ​​losing traditional money seduced the general public. And in 2009, a group called Satoshi Nakamoto launched Bitcoin, which was unanimously considered the first (and real) decentralized digital currency.

With the advent of a new era of digital currencies not dependent on banks, many Bitcoin alternatives have been launched. They are called Altcoin and more than 4,000 are currently used.

Live the dream, right? Well, it's not my intention to throw a black cloud over this new world, but whatever the money involved, there must be someone trying to make a bamboo goose.

Cryptocurrency fraud, a hot topic, has taken root and hundreds of thousands of people are being scammed every day. Not exactly the latest news, but the folds have become so complicated that it is increasingly difficult to distinguish the false from the legitimate.

That's why this handy little guide will explain the wonderful world of cryptographic scams and tell you how to avoid them. Let's start with an overview of the most (non) ordinary scams.
Cryptocurrency scams
In general, you should never accept cryptocurrency transactions with companies or startups that are not based on a blockchain. In simple terms, this means that all transaction data can be monitored and evaluated.

In addition, before you start a business or another, you may want to check their credentials - look for business-as-usual indicators such as compliance with the rules for the initial supply of parts and the liquidity of digital currencies .

It's at a glance. So we dive into the most common and the most unusual cryptocurrency scam. Have fun (or not) .