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Learn how to protect yourself from some of the worst scams out there.
One reason why so many people invest in Bitcoin and other cryptocurrencies is the potential for out-of-this-world returns. Despite the risks, they’ve seen the headlines and want in on what could be a large payoff.
That is what helps make the crypto market a prime space for scammers looking for easy money. To help keep your investment safe, beware of the following Bitcoin scams.
1. Fake exchanges
In 2017, the South Korean government spotted one of the most well-known examples of a fake Bitcoin exchange. BitKRX named itself after the Korea Exchange, KRX, the largest trading platform in the country, and posed as a branch of the platform to lure investors in and take their money.
To avoid being a victim of this scam, beware of aggressive invitations to use an exchange, especially with promises of high returns or a guaranteed rate of return. No investment can offer that, least of all in the…
