Cryptocurrency Scams

Cryptocurrency Scams is one of the main topics of LetsplayFX. Let us find the best trading strategy to avoid cryptocurrency scams.


2 minute read

Cryptocurrency Scams

Fintechee provides cryptocurrency price on their website. has some cases.

How to identify the cryptocurrency scams? There are edges to distinguish them from traditional scams.

Traditional scams often ask for a clearance fee by providing you a BTC address when they convince you they will transfer funds via banks. It’s very easy to understand that they are scammers. Startups are lack funds, but they are not kids. Why do banks use BTC addresses? Banks have their payment gateway and fund transfer routine.

They even have no website , no reachable enterprise mail address. So if startups are not fools, it’s impossible to fall into traps like that.

VC scams are smarter and more ‘good-looking’.

Features of Cryptocurrency Scams:

  • Just started up recently. Almost no social and no community building well done.
  • Asks for a registration fee.
  • Provides a crypto wallet address for funds transfer.
  • What they do is just review your project and give you advice. The job’ that they do is no guarantee and warranty disclaimer.

The problem is why they ask startups for a registration fee? Startups need funds, not a charity and not investor s. They can’t afford the upfront fee and waste any money.

They are easy to identify as well if we have known the features I mentioned above.

But, please note, some cryptocurrency scams are not so easy to identify.

Because they have some famous organization’s domain and expand their business by using the official website of some formal blockchain platform.

Remember, you are raising funds, not distributing funds. Funds can’t be used twice. So, be careful! Set apart from any temptation.

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