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How To Spot A Cryptocurrency Scam In 4 Steps

Cryptocurrency scams are getting more and more popular by the day, thee people behind the scams are also getting smarter about it, making the scams more believable than ever before.

This article focuses on some of the ways you can spot a Cryptocurrency scam in just 4 ways.

1. Promise life changing returns.

Cryptocurrency is not a miracle, if a platform offers unrealistic returns, this is a red flag. The returns from Cryptocurrency investments are set by the market at the time, these returns are not fixed and vary from time to time.

Unrealistic returns are the biggest red flag, individuals who are good at trading usually have basic knowledge on market analysis and how markets work.

2. Aggressive marketing.

The results of a good trading platform will show on its one, there is absolutely no need for aggressive marketing in order to advertise the platform.

Some Cryptocurrency platforms use celebrities in order to lure people to join the platform. In order to ensure the platform is safe and reliable, individuals are urged to carry out reasonable research.

3. Anonymous messages.

A legit Cryptocurrency platform or company will not contact you unless if you sign up to their platform. In the event that you begin receiving anonymous messages from a platform you did not sign up to, it is probably a scam.

Anonymous emails are also a red flag, these companies get your contact details thought phising, which is a way companies collect individuals details in order to contact them and try to sell services or market to them

4. Trust your gut.

If you question the legitimacy of a site, it probably means that something is off. It is important to trust your gut if you feel like something is off with a site, this will save you a lot of trouble.

Source : https://www.google.com/url?q=https://finance.yahoo.com/news/top-5-tips-spot-cryptocurrency-131320409.html&sa=U&ved=2ahUKEwjOgenkg8P4AhUF2aQKHYN7CWgQFnoECAwQAg&usg=AOvVaw1rb1vjeSdwAbYij284MPXe

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Cryptocurrency

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