1.Cloud multiplier scams

Fraudsters sometimes contact victims by email or text with an “investment opportunity”. They promise to give investors double or triple the amount they have put into bitcoin if they send their cryptocurrency to a particular digital wallet.

REMEMBER: Offers of free money should always be viewed with great scepticism

2.Pump and dump

Criminals can easily inflate or deflate the price of very small or unknown cryptocurrencies, sometimes sending the value of these currencies skyrocketing.

Sometimes criminals will own a lot of a particular cryptocurrency (through pre-mining much of it before it is available to the general public).

When unwitting traders rush in to try and grab a piece of the action, the criminals wait for the price to increase before selling all their coins and causing the price to crash.

They can pump up the price by promoting it on social media, before selling it at the higher price.

3.Malicious wallet software

The best crypto tips will tell you to stick with big name crypto wallets, such as Ledger, Trezor, Exodus or MetaMask.

Dodgy or unknown wallets that you find on Google Play or the App Store can steal your crypto funds with dodgy code.

4.Fake coins
With so many cryptocurrencies on the market, it can be difficult to tell what’s real and what’s not.

When you invest in fake coins, criminals can steal your identity and often your hard-earned money.

Don’t take anyone else’s word for it and use as many sources as possible to do your own research on coins before you buy them. Trade your Bitcoin, USDT and other coins on a well known and trusted Platforms like Yellowcard, Binance, Coinbase etc.

Beware!

Thank you for this piece of information. I have also been enjoying trading BTC on yellow Card because of the mouth watering rates

What a useful piece of information ! That's why I am always careful when it comes Crypto trading platform. I think Yellow Card and Binance are cool and still the best so far

Choosing the right platforms to trade is so important so tht one will be insulated from these scams

We have to be very careful too, these scammers are always going the extra length to swindle unsuspecting people

Always trade your Bitcoin, USDT and other coins on a well known and trusted Platforms like Yellowcard, Binance, Coinbase etc.

This point is very important.

Interesting read, I use both Coinbase and Yellowcard and it's been a pleasant experience so far.

Thanks for this information. This is why I prefer Binance and Yellow Card App. They're so reliable.

Since I even found out about Yellow Card and their fast transactions, I just got stuck with them .

Ezlynn:
Interesting read, I use both Coinbase and Yellowcard and it's been a pleasant experience so far.