Is Cryptocurrency a scam? Everything to know about cryptocurrency scams


To answer the question of whether cryptocurrency is a scam, we need to understand what cryptocurrency is. With the rising technologies and the people across the world touching new heights every day, the world also has to accommodate some changes to move forward as a collective body. This has promoted a lot of technological advances in this era. With technological advances, comes the human desire to keep up with it. Cryptocurrency is also known as virtual currency or digital currency which can be bought in exchange for cash and is used over the internet to purchase goods and services. However, due to the variety of advantages and disadvantages attached to cryptocurrencies, it has become a vital question whether cryptocurrency is a scam or not. Read on to know the answer to this question.

Is Cryptocurrency really a scam?

The answer to this question will be no. Cryptocurrency is not a scam, however, as every market has its own share of scams, this market does too. Due to the government not participating in the market and the semi-anonymity provided to the customers during transactions, various cyber criminals and scammers are using cryptocurrencies extensively in illegal activities. This has certainly created a bad impression of cryptocurrency in the minds of many. On this occasion, let us look at some of the common cryptocurrency scams that people often fall prey to.

Eerily similar websites

Scammers often adopt this trick of creating the exact copy of a legitimate website and make tiny changes that go unnoticeable. When a potential customer searches for the original website, the scammer tricks the innocent customer into mistaking the fake website as the real one. As the customer purchases and invests, the scammers put up the option of only crypto coins as they cannot be traced. This results in the poor customer getting scammed and with no option to retrieve their crypto coins back. If you have been through a similar situation, read till the end to get your money back only with All Scam Reports.

Imposter apps

Another way through which these scammers catch hold of innocent customers is by creating fake apps with similar names as of legitimate crypto companies and uploading these apps on the google play store and the app store for ios users. Through this tactic, the scammers get crucial information from the customers such as the password and id to their accounts. Even though these apps are removed as soon as the problem is detected, several people might have already fallen for the scam.

Fake Emails

Emails are yet another method to target innocent and unsuspecting customers. The scammers will pretend to be cryptocurrency companies and send emails to the customers offering fake ICOs. Beware of such scams! You must always cross-check and verify whether the mail is coming from the original company. Such emails are a way to steal some of the funds from the customers and as crypto coins are untraceable, the scammers get away with it.

If you have been scammed by a cryptocurrency scammer, do not worry. File a complaint with us and get instant solutions on how to get your money back.

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