A crypto currency is binary data that acts as a medium of exchange and increases the strength of crypto currency value. Crypto currency is responsible for creating the additional value of a coin through the regular trading way. Investors own specific valued crypto currencies for trading purposes. It is a form of digital money.
The legal status of crypto currency varies from country to country. Bitcoin is the most famous crypto currency that maximum investors want to hold. Bitconnect was an open-source crypto currency that had a high-yield investment program. bitconnect interest rate fluctuates with the volatility of crypto currency. Carlos bitconnect is one of the biggest crypto currency scams in the world.
Important Crypto Scams
Many investment portals claim to provide a massive return on crypto currency investment to their investors. If the website has no lock icon and no ‘https’ in the website address, try to avoid the website. If you click the attacker link, there may be a chance of taking away your previous crypto currency investment without your knowledge.
Many fake mobile apps can create lots of crypto currency scams. If investors download any fake mobile app, there may be a chance of losing previous crypto currency interests. Try to avoid the crypto currency offers that come through the social media pages. You may receive some emails from a fake crypto currency company. Investigate the email authenticity before investing in crypto currency.
Bitconnect The Famous Crypto Currency Scam
Bitconnect is all time famous crypto currency scam. The estimated value of this scam is $4 billion that involves multi-level marketing and a Ponzi scheme. The crypto currency trading companies failed to provide a minimum return from crypto currency trading. The second project of this investing company also faced a similar scam to their previous project.
Due to the scam of bitconnect, the value of the crypto currency coin fluctuated below $1 from the previous high of $500. In 2018, bitconnect announced to shut down its crypto currency trading platform due to non-funding. American jurisdiction charged criminal case against bitconnect trading platform. Carlos bitconnect is an all-time famous crypto currency fraud in the world.
One Coin Another Crypto Currency Scam
BBC missing crypto queen podcast series is the biggest crypto currency scam of all time. It is a giant Ponzi scheme of crypto currency investment. This bitcoin scam has an estimated value of $25 billion. In 2017, the legal authority shut down the scam. The legal authority arrested the leader of this investing platform. As per the recent report, it has been found that one coin did not deal with the crypto currency.
What Is A Quadriga Crypto Currency Scam?
It was one of Canada’s famous trusted crypto currency platforms, but later on, the legal authority disclosed its fraud activities. The leaders of the fake crypto currency trading platform deal with multiple fraud activities regarding crypto trading. The founder of this fake trading platform used $250 million of its users’ crypto.
Many fake crypto currency trading platforms are still operating in the market that can automatically decrease your crypto currency value from its higher value. It is essential to choose the best crypto currency platform for your investment safety.