Crypto experts warn investors about 8 signs of potential scam coins
From Nasdaq
February 05, 2025 09:00 AM:
Investing in cryptocurrency can lead to big profits or fall victim to scams. Educate yourself on scam signs, such as irreversible payments and new coins with unknown intentions. Stick to established cryptocurrencies with high market caps. Keep up with crypto news to stay informed and avoid potential risks.
Be cautious of large “pre-mine values” and massive trade volumes in coins, as they could indicate potential scams. Avoid falling for deceptive schemes like “pig butchering,” where scammers pose as crypto experts to lure victims into investing. Be wary of promises that seem too good to be true and always research before investing.
If someone insists on switching messaging platforms or makes unrealistic promises, it’s likely a scam. Avoid investing with strangers online and be skeptical of high-return promises. Invest in coins with utility and purpose to avoid potential crashes. Stay vigilant and do your research to protect yourself from crypto scams.
Read more at Nasdaq: Crypto Experts: 8 Warning Signs a Crypto Coin Is a Scam