Crypto Trading Scams

I mean like the spam emails you get or the very suspicious commercials you see on...suspicious sites. I know basically nothing at all about crypto or...trading scams in general, but just out of curiosity...what exactly do these people do? Is it just a pyramid scheme type of thing?

Comments (8)

Apr 22, 2020

Check out OneCoin to get a peak at how the scam works.

    • 1
Apr 22, 2020

Oo interesting, I'll check it out.

Debt is like the wind...always by my side.

Jul 31, 2020

I guess one of the most popular scams is creating fake crypto wallet websites/apps. Fake wallets usually have a name very similar to trusted wallets such as Coinbase and even have a very similar logo. So a newbie thinks that he/she installs the official wallet app that everyone recommends. Some scam wallets can also be in Apple and Android app stores under the disguise of real walletsActually I'm super suspicious about being scammed so I opened a bank account with a hot wallet option. It is called balckcatcard. it's not like a crypto bank account but a normal euro bank account with a hot crypto wallet linked to it. So for me this seems much trustworthy as the wallet is tied to a bank card and the bank card has good protection

Jul 31, 2020

Crypto scams are definitely not REPE

...but is it REPE?

    • 1
Jul 31, 2020

I mean isn't it arguable that Crypto is a scam overall? Discuss. (Sorry, I'll end my SNL coffeetawlk impression now)

Jul 31, 2020

I wouldn't say it's a scam any more than a casino game. Some people, especially early investors, manage to make money and sometimes lots of it. Most don't.

Jul 31, 2020
NYCBoyAbroad:

I wouldn't say it's a scam any more than a casino game. Some people, especially early investors, manage to make money and sometimes lots of it. Most don't.

I mean, aren't most casino games scams? The goal is to payout ~90% net of expenses and wages. That way you keep people coming back, but with enough volume you never get hurt by a single loss.

  • Prospect in IB - Restr
Aug 1, 2020
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