Binance Academy
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5 Common Types of Cryptocurrency Scams and How to Avoid Them
Content
Introduction
Social media scam
Financial pyramids or Ponzi scheme
Fake mobile apps
Phishing
Fraud involving or imitating real famous personalities or projects
Conclusion
Introduction
In today's world, your cryptocurrency is an incredibly valuable asset for criminals because it is liquid, portable, and once a user makes a transaction, it is almost impossible to reverse. The result of such properties has been a new wave of scams (both in the form of long-standing classics and completely new scams unique to cryptocurrencies) that have swept the world of digital currencies.
Introduction
Social media scam
Financial pyramids or Ponzi scheme
Fake mobile apps
Phishing
Fraud involving or imitating real famous personalities or projects
Conclusion
Introduction
In today's world, your cryptocurrency is an incredibly valuable asset for criminals because it is liquid, portable, and once a user makes a transaction, it is almost impossible to reverse. The result of such properties has been a new wave of scams (both in the form of long-standing classics and completely new scams unique to cryptocurrencies) that have swept the world of digital currencies.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.