Crypto scams: do you want to avoid them? There are five red flags here.

“I don’t trust cryptocurrencies; it’s a scam.” Investors often say this when they talk about cryptocurrencies. They suggest that the crypto space, which is still young and developing, is generally not trustworthy.

Investors tend to let their guard down when prices rise. We saw it last year during the full market euphoria. It was about FOMO, or Fear of Missing Out.

On the other hand, the level of mistrust tends to rise when cryptocurrency prices fall, which they have been doing since January.

The cryptocurrency price craze last November reinforced the idea that the crypto sphere was all about bitcoin. But the industry is much more than bitcoin and other digital currencies like ether, dogecoin, tether, and shiba inu.

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