The activities of scammers within the cryptocurrency industry is on the increase. It is suggested that the increased popularity of Bitcoin and other altcoins such as Ripple, Ethereum and Litecoin may have stirred up some genuine curiosity in the faculties of newbies and other hopefuls around the crypto ecosystem. It is this growing curiosity that is milked by con artists who take advantage of the ignorance of their victims.
Knowledge is everything
When it comes to disruptive technology, knowledge isn’t just power, knowledge is everything.
The right knowledge about any given innovation will always offer genuine and sustainable benefits. On the contrary, a distorted idea of any given technology will not only be misleading, but it remains a metaphorical time bomb that will eventually explode when the time comes.
“In as much as Blockchain and the Distributed Ledger Technology (DLT) offers a huge platform for various kinds of innovations and investments, the promise of unrealistic returns on investment is a common characteristic that cuts across almost all cryptocurrency scams.”