A lot of people are interested in making money from cryptocurrency, but the industry is still relatively new and risky. If you’re new to cryptocurrency, you might be wondering what kinds of scams you should watch out for—and how to avoid them. We’ve put together this list of 4 common scams that we think you should know about as you navigate the crypto world.
Pump and Dump Schemes
The first rule of the Pump and Dump club is: DO NOT TALK ABOUT PUMP AND DUMP CLUB. Okay, that’s not true. You don’t have to talk about P&D schemes, but you should be aware of them. When it comes to crypto scams, they are some of the most common types out there.
Crypto is a relatively new asset class with few regulations and lots of excitement around its potential as an investment vehicle. This combination can make for ripe conditions for scammers. That being said, if you know how to spot a P&D scheme, you’ll be miles ahead of anyone who doesn’t even know what it is (a little crypto humor there).
So what…
