What are the red flags to look out for when investing in bitcoin to avoid scams?

3 answers

• Dec 19, 2021 · 3 years ago
  One red flag to watch out for when investing in bitcoin is promises of guaranteed high returns. If someone is guaranteeing you a certain percentage of profit, it's likely too good to be true. Remember, investing in bitcoin is inherently risky and no one can guarantee specific returns. Be cautious of anyone making such promises and do thorough research before investing your money.
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• Dec 19, 2021 · 3 years ago
  Another warning sign is unsolicited investment opportunities. If you receive unsolicited emails, messages, or phone calls promoting a bitcoin investment opportunity, it's best to be skeptical. Legitimate investment opportunities are usually not aggressively marketed in this way. Always be cautious of unsolicited offers and verify the legitimacy of the investment opportunity before proceeding.
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• Dec 19, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I would advise investors to be wary of new and unknown exchanges. While there are many reputable exchanges out there, it's important to do your due diligence and research the exchange before depositing your funds. Look for reviews, check their security measures, and ensure they have a good track record. By doing so, you can minimize the risk of falling victim to a scam.
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