Cryptocurrency scams! How big is the issue and how to avoid it.

Cryptocurrency scams are something we’re all aware about, but the increase in the last couple of years is alarming!

Crypto has several features that are attractive to scammers, which may help to explain why the reported losses in 2021 were nearly sixty times what they were in 2018. There’s no bank or other centralized authority to flag suspicious transactions and attempt to stop fraud before it happens.

Obviously the more people join this market and since it seems new coins are popping out left and right at such a fast rate now, we need to educate each other and talk about this major issue.

Here is a few things to keep in mind and even share with family/friends that are invested or thinking of investing in cryptocurrencies:

•Investment opportunities with higher than normal returns •Unsolicited telephone, email or social media investment offers •Displays of urgency so you don't miss out suspicious messages from a trusted source, like a bank or family member •Cryptocurrency investments that are not registered with national securities regulators

Clearly a lack of regulations plus the dream to 10x 50x 100x is making more people be less vigilant and jump into something without to much knowledge or not a verified source/business.

What do you do to stay safe and what do you think can be done to fix this issue?