Digital monetary schemes like cryptocurrency have their fair share of advantages, but you must learn to recognize the risks involved with transactions. It is not only the fact that markets are volatile. In fact, it has more to do with the sheer number of scams that you need to look out for. While investing in promising startups and exchange platforms like bitcoinx may seem like a great idea, it is best to prepare yourself for the slight chance of losing your investments as well.
Cryptocurrency experts believe that cryptocurrency should be blockchain-powered. This means that all transactional data should be tracked. Moreover, companies of all kinds should make their digital currency liquid and should keep their clients informed about ICO rules. You should be able to have a face behind the operations to add a personalized element to the transactions.
Here are some common cryptocurrency scams to look out for: