The Crypto industry is just as susceptible to scams as any other finance industry.

There’s a lot of talk and even distain towards Crypto because people and governments see it as a hive of money laundering and scams to defraud people out of their money.

Whilst there’s no denying that scammers are rife in Crypto the same can also be said about literally any other financial system.

We’ve all had a call from someone claiming to have an offer so unbelievable that it could make us thousands, all we need to do is hand over our bank details and the money is ours. A text message from HMRC or IRS claiming to have a large rebate in store for us. Or even had our grandparents receive fraudulent emails shaking them of their retirement funds.

The only major difference between Crypto and regular banking systems is that the power is in the hands of the people. Any decision made with your money lies entirely on you. There will be no bank to reimburse the lost funds or no insurance to pay you out.

Crypto is very technological, it’s not about some shady guy stood in the car park convincing old people to part with their money. It’s 22 year old programmer looking for weak spots in coding or a cleverly crafted twitter campaign advertising the next big project only to be rugged in a matter of days.

The desire to defraud people out of their money has always been there and always will be there. It will just evolve as our finances do.

It’s up to us now to educate, protect and safeguard our own money. It’s a great thing to have onus over our own money but it does come with the final caveat of being responsible over it all entirely.

Be safe out there, double check everything you’re doing, question every move and do your research. Beyond that you’re the only one who can protect you.

Stay safe ????