Guide to avoiding ponzi projects on Bitcoin
It is necessary to avoid ponzi projects in the cryptocurrency sector and to be conscious about it.. As it is known, the Ponzi scheme is a fraud method in which investors are paid with their own money or money from subsequent investors.
Ponzi scheme in the Cryptocurrency Industry
There are two types of crimes we hear the most in the crypto industry; the first is direct cyber attacks with an open threat, and the other is ponzi systems, in which we are involved without realizing it.. Scammers have also entered the crypto industry with ponzi projects. The most important reason for this is that crypto owners do not have full control of the sector and do not know how the crypto system works. It cost the industry millions of dollars by connecting them online.
Please See: Bitcoin news, agenda and breaking news
So what’s the solution? Quite simply, more awareness !!!
Here are some important information every investor should keep in mind to avoid ponzi schemes in the cryptocurrency industry and not fall into this trap:
Check the Company’s Social Media Accounts and the Team
When you receive an investment offer from an unknown source, the first thing to do is to log into the twitter account of such sources.. The opening date of the Twitter account, the number of followers, the replies to the followers and comments may be important information for the reliability of this offer.. Scammers often use new accounts. Even if the number of followers is high, it is absolutely necessary to have other team members of the company or CEO, COO, CTO, etc.. check their admins – If you find suspicious names, avoid these accounts and block such accounts wherever possible.
Check the Crypto Forums, ask questions and search for the latest news
There are online forum sites where users of the cryptocurrency industry can get unbiased information about the companies, crypto projects and tokens they follow.. It’s a good idea to look at these forums when you get offers that may seem outlandish to you.. In these online forums, you can check the latest news about companies or individuals approaching you.. It is possible that fraudulent companies or individuals have made such offers to other users as well as to you.
Company name contact via Telegram
Most scammers try to reach you by the names of big companies like Ethereum or Tron or even very common companies like Google or Amazon. These situations make it mandatory to check every attractive offer that asks you to pay. However, when we look at traditional companies, you can reach their customer service team by phone or email.. But in crypto companies, it’s much simpler.. Every well-known crypto company has a telegram group for its users.. You can verify the projects that come to you by contacting the manager or other representatives.
Read Crypto News Every Day (At least the Headlines!)
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If you don’t want to be deceived, the best solution is to keep up to date with the latest developments in the crypto world.. You can do this by following trusted crypto news portals or reading projects that interest you and keeping a close eye on upcoming events, plans and competitions.. Knowing the current state of the crypto industry will not only protect you against Ponzi schemes, but will also give you a better understanding of the crypto market.
How Cryptocurrencies Work, Join Programs and Attend Workshops Learn
The most effective way not to be deceived or scammed is to be an expert in that field.. Of course this is not an easy process, but how crypto works, mining, exchanging, wallet, etc.. If you spend a few months learning the basics of crypto, you’ll be a hard hit for scammers!. Many companies offer basic training on how cryptocurrencies work and how the process behind them works. If you are serious enough to learn about this industry, you can also attend a crash course on crypto trading or workshops organized by crypto enthusiasts and experts.
According to a recent study, most crypto enthusiasts offer free world trips, free laptops, computers, phones, etc.. deceived by promises. Therefore, the most important thing that every crypto enthusiast should know is that nothing in the world, especially things in the financial market, can be free.
The precautions mentioned above are a guide for you to avoid ponzi projects in the cryptocurrency industry.
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