Ways to Avoid Crypto Currency Scam Happening Right Now
When the emerging of the cryptocurrency has got importance in the market the scammers of the cryptocurrency also have taken the advantages and the possibilities of this offer. As the cryptocurrency market is found to be uncontrolled one the scammers are deceiving the investors intentionally. Therefore the users have to be aware of this scammers.Ethereumworldnews.com is providing the information about the scam and read more about Ethereum Code to understand the ways to avoid the cryptocurrency scams.
1) Twitter frauds
It is one of the recent tricks by the scammers to the users. The scammers will be producing the fake account giving assurance of returns in the multiples. Users will be easily attacked here. These are done by keeping the fake account with the profile picture and giving rewards by the fraudsters and after some days you will not get anything back. Many people have fallen into this strategy of the scammers and so don’t believe in a person who promises the large returns.
2) Market manipulation
In the case of the protection of the people, the regulation plays an important role. By this, the cryptocurrency scammers can be prevented n the market and the regular investors can be relaxed. Regulation in the market will help the investors to identify the manipulation which is taking place commonly.
3) Fake purchase and selling of walls
If the users are trading by using the chart analysis means they will not get affected by the buying and selling of walls. When you look at the depth of the chart you can easily identify the wall. On one side of the wall it will be high and mostly it is found to be 2-5 times larger. The cell walls are used to inhibit the price and this is a trick to make the investor to sell. So they can purchase the coin in the low cost.
4) Pump and dumps
Pump and dumps are one of the strategies to increase the value of the coin where the investors got fooled by dumping it on them. About 500% of the gain in the industry is due to this strategy. There are some free dump and dump groups are available to join and to buy the coin by the low cost.
5) Top advice
Beware of the coins if the price is increased rapidly. If you analyze the trading volume you can easily identify whether the coin is from the pump and dumps group. When the trading volume is lower than the other coin then there will be a scam which will be high.