Category Archives: Scam Prevention

Common Mistakes Altcoin Traders Make

No idea what I'm doing

Most people come into trading crypto currencies without any guidance and just jump in. BIG MISTAKE. This is why most fail, or at least continue to loose money hand over foot. You have to set guidelines for yourself to follow and stop being a sheep. Following the herd is going to get you nowhere other than lining the pockets of someone who thinks for themselves. Get ready for a long post because there are just too many mistakes made by beginners and even experienced traders each day.

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YOU need to take accountablility for YOURSELF

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Time for a bit of a crypto rant. More and more scams are appearing in altcoins that are released. With this more and more whining that exchanges and forums need to do something about this. It’s time for a reality check and if you’re one who thinks exchanges and or forums should police the new altcoins I’m going to warn you this may hurt a bit. So suck it up buttercup.

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Mining and Keeping your Portfolio in the Black Amid All the Scams

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Altcoin Bag Hold

One major loss of sleep for us altcoin traders is the fact that we might have just bought a big ‘ol bag of Scam. And we could all use a bit more and better sleep right? There are some tips that can help your stress levels and keep that stroke from creeping up on you while you hold your coins.

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Protecting yourself from getting scammed with Altcoins

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More and more scams are popping up in the altcoin world, it seems like today 1 in 10 are actually legit. The current trend with all these scams is causing the environment around altcoins to become toxic, this is not helping the future of altcoins making a place in accepted and widely used crypto currency. The best way to stop this from becoming worse and ending altcoins is to start protecting ourselves and trying not to support altcoins that put out a coin that can fully take advantage of you and your money. Now this isn’t 100%, scammers are smart and will try their best to get your money, so always remember the golden crypto rule:

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Scam Prevention in the Hands of the Community

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Current times in the Crypto World have been seeing an abundance of scams. Blame for these scams are being thrown around from blaming the exchanges who will put the coin up for trade to the devs that take advantage of people. As much as people don’t want to hear it though it boils down to the community needing to be responsible for themselves.

If the exchanges don’t put up the coins then people yell because they don’t have the latest thing, if they do and it turns out to be a scam they get blamed also.

The devs scamming you are baiting you by telling you what you want to hear, short POWs, high POSs, no IPOs or Premines and then turning around and either doing a ninja premine or changing the code after the POW ends.

We need to stop jumping on these coins and start having some standards for stability. Another great option has been presented on BitcoinTalk Forum, Premine Escrow – The Solution To Premine Dumping. This is a great chance for the community to start having altcoins with a future and┬ástop scammers.