Steemit Crypto Academy Contest Season 6 Week 5 -Common Crypto Scams And How To Avoid Them

Introduction

We are so delighted in welcoming y'all to this week's Steemit Engagement Challenge and we are already into week5. We still have up to week-06 to remain together in the Academy just like last season. So we hope you will share more of your knowledge about the crypto ecosystem with the audience, thereby educating one another.

Common Crypto Scams And How To Avoid Them

We are in the world where when ever money is concern, scam will be the order of the day because of the human nature of money minded as there are some humans who will always try to do anything humanly possible to extort money from innocent people

Same thing goes with crypto and crypto scam is increasing day by day because there are hundreds of crypto scams outside now such as Rug pull, Phishing, Ponzi schemes, Fake cryptocurrency exchanges and so many other scams which people use in extorting money from people. We should know that cryptocurrency uses but blockchain for verification. So it doesn't run through financial institutions and so it will always be difficult to recover from any crypto scam.

What is Expected in the Contest?

• Explain Your Understanding Of Crypto Scam

• Explain The various Types of crypto Scam

• How Can We Do In Other To Spot This Types Of Crypto Scams.

• Have You Ever Be Scammed Before? Or Have A Person That You Know Ever Be Scammed? Explain To Us The Incident.

• How Can One Protect Himself From Crypto Scam

Contest Guidelines

• Post your articles in the Steemit Crypto Academy community. The participation time is between Monday, December 19th, 2022, 00:00 UTC to Sunday, December 25th, 2022, 23:59 UTC.

• The article should be at a minimum of 500 words. You can write more. Your article must be free of any form of plagiarism.

• Your article title should be Steemit Crypto Academy Contest / S6W5 - Common Crypto Scams And How To Avoid Them . Add the tag #cryptoacademy-s6w5 and other relevant tags.

• Participants must be appropriately following #club5050 or #club75 or #club100.

• Participants must be verified and active users on the platform.

• The community moderators would be leaving quality assessments on your articles and probable upvotes.

• In addition, your article must get at least 10 upvotes and 5 valid comments to count as valid in the contest, so ensure you interact with other users' entries. Do not be involved in vote-buying.

Rewards

• SC01 would be checking on the entire 7 participating communities and upvoting outstanding content. Upvote is not guaranteed for all articles. Kindly take note.

• At the end of the week, we would nominate top 3 users that had performed well in the contest and they would be eligible for votes from SC01/SC02.

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Important Notice: The nomination of the top 3 users in our community is not based on good grades alone, it includes their general engagements (quality and quantity of their interactions with other users' articles) to measure the overall performance. Also note that generally, you can only make one post per day in the Steemit Engagement Challenge.

Conclusion

It's a pleasure continuing with you all in week 5 of the engagement challenge at the crypto academy. We believe that y'all will share to us on this contest topic and we will get to learn alot from one another as this is a vital topic because of how millions of people out there have been victims in crypto scam cases. So we hope everyone will have good information to say about this topic.

Please always remember to stay original and give in-depth analysis to all the required contest questions so as to gain maximum scores.

Good luck and merry Christmas 🎄 in advance to y'all