Cryptocurrency Scams

ehereumkang (25)in #cryptocurrency • 7 years ago

I just Wanted to put something together Warning People about some of these Crypto Scams, With everything Great and new in this world that is coming to Market Fast, There will also Be Scammers Taking advantage just as fast.

My son Started Mining Ethereum and Expanse at the Age of 13 (he is now 15) I have helped him scale and grow into having a Decent size Farm (80 Graphics Cards) and we are setting up 800 More in the next 2 months.

That being Said we have dumped a lot of time and Research into the Crypto world before he even started and over the past couple of years. Again this is just a quick what to look out for. And if it sounds to good to be true it probably is.
I am posting this after constant bombardment of my inbox on other social media channels for "recruit" to earn coin programs ect. As I stated Earlier My kid figured out how to mine...............you dont need a MLM Platform to Make Money with Crypto.

Check Out Exchanges-Poloniex, Coincap or one you love, compare a few and make sure the Coin is on each exchange
Go to the Companies Website, check out the Forums, if you see a community of Engineers and developers there working on things for the platform, thats a good sign.
Ensure the company is providing a "service" to the community aka Customers. This creates Value, if they are not validating tranactions, pooling together idle Computing power ect. they are not creating anything WORTH any value.
If you have to pay to Join a "group" that recruits and are paid for recruiting people its a MLM that is simply taking peoples money for recruiting and giving a TINY fraction of the coin they actually paid for. You are buying more coin than you are getting sent back the higher levels are keeping the coin.
I seen a video Matt Trainer is releasing his OWN coin backed by Gold, he states the OZ of gold he is in possession of, do the math its 2 billion $ in gold...........this man is a CHRONIC Scam artist Run the other way from anything his name is on.
Help other people, PLEASE lets make the honest community outshine the Crooks and Scammers ! We are onto a Shift in Wealth and some GREAT things can happen with the move away from Fiat Currency for everyone, don't let the Turds in the punch bowl ruin the dance.