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Brooke Hopkins

29 September 2022 822 Read Crypto


How to Find the Next Big Crypto Initiative and Not Get Scammed?

Before investing in a crypto project, make sure you are aware of the common warning signs of scams. Crypto fraudsters usually invest in heavy marketing to attract as many people as possible and raise money quickly. While these offers can be lucrative, you should always pause and do additional research before you invest your money.


One of the main ways to make money with crypto is to participate in an initial coin offering, or ICO. These initiatives allow crypto companies to raise funds by promising customers a discount on a new crypto coin in return for sending them active cryptocurrencies. However, some ICOs have turned out to be fraudulent. In some cases, criminals have gone to great lengths to deceive investors, renting fake offices and producing high-end marketing materials. Another red flag is when a company offers a guaranteed return.

Social media

A common social media scam involves promoting cryptocurrency giveaways and promising to match or multiply any cryptocurrency you send. Such offers are often promoted by impersonating reputable businesses or celebrities. The messages can also be very convincing, creating a sense of legitimacy and urgency. If you want to take advantage of a cryptocurrency giveaway, you need to take steps to prevent being scammed.

One scam in particular involves live videos on YouTube. The scammers create videos using stolen content and embed a link to the "giveaway" in the video description. When a victim clicks on the link in the video, they are asked to send cryptocurrency to the scammer's account. The use of YouTube Live allows the scammers to avoid YouTube's content review process and avoid detection. It's also important to avoid suspicious channels with few videos.

Scam alerts

There are several ways to avoid becoming a victim of crypto scams. One of the best ways to protect yourself is to stay informed. Be wary of companies that guarantee money and big payouts. Remember that no one can guarantee that you will make money with crypto investments. Companies that make these claims are scams. Don't be fooled by celebrity endorsements or testimonials from happy investors.

Scammers will pose as a recruiter or a job seeker and offer a job in the crypto world. These scammers will send you unsolicited job offers that ask you to send a certain amount of cryptocurrency in order to start the job. Don't pay a cent of this money, as this is a scam. Scammers may also impersonate celebrities to gain access to your money. These scammers will use the names, images, and personal characteristics of popular celebrities to advertise their cryptocurrency scheme.