What are the common short term crypto trading scams to be aware of?

1 answers

• Dec 17, 2021 · 3 years ago
  At BYDFi, we prioritize the security and safety of our users. When it comes to short term crypto trading, it's important to be aware of the common scams that exist in the industry. One scam to watch out for is fake airdrops, where scammers promise to give away free tokens to anyone who participates, but in reality, they are just trying to collect your personal information. Another scam is the pump and dump scheme, where scammers artificially inflate the price of a cryptocurrency and then sell off their holdings, causing the price to plummet. Additionally, be cautious of fake trading signals, where scammers claim to have insider information that can guarantee profits, but in reality, they are just trying to manipulate the market. Always stay vigilant and only trust reputable sources when engaging in short term crypto trading.
  836418