This video is a brief overview of some of the common things that you will see with crypto scams, using stablefund.app as an example. These are common to many investment products which advertise high returns, promise passive income and do even pay out briefly before crashing.
00:00 - Intro + What is a Ponzi Scheme
01:09 - Red Flag - No User Support
01:49 - Red Flag - Guaranteed Returns
02:15 - Red Flag - Technobable or Magic Source of Returns
02:38 - Red Flag - Fake Media Coverage
03:02 - Red Flag - Nonsense or Basic Language, Poor Spelling
03:24 - Red Flag - Ambigious or missing owners, founders or staff
04:22 - Red Flag - No Business or Technical Information + Cult Behavior
05:09 - Red Flag - No working backups + Ambigious Custody
07:19 - Red Flag - Smart Contracts with Owner + Transparent Ponzi
11:46 - Conclusion
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If you are new to Crypto, my suggestion is that you start with buying ~$150 worth of Bitcoin, Ethereum, Litecoin @ Coinbase and get familiar with storing it, moving it around, etc.
For Trading, just start with Binance:
By sticking with large, reputable exchanges for your first purchase (Coinbase) and first trade (Binance) you can avoid getting scammed right at the start by purchasing a non-existing coin off a scammy exchange. (You would be surprised how many people fall into this trap)
Don't have a hardware wallet?
Be safe and buy them direct from the manufacturer. (Not just through some random on eBay, Amazon, etc)
Get a Ledger: you are just starting out, I would just recommend a Ledger Nano S)
If this was helpful, feel free to send me a tip:
BTC: 37hiiSB1Poj6Shs8WawPS2HjT2jzHkFSQi
BCH: qr9qenlgjh0xlyz802h70ul69rpdj8z6qyuh7m79ah
LTC: MRWnUcsyofisVp5GvX7nxMog5caneycKZ6
ETH: 0xCe41d43349E1c8C53E02631650E236d94A899a95
VTC: vtc1qxauv20r2ux2vttrjmm9eylshl508q04uju936n
ZEN: znUihTHfwm5UJS1ywo911mdNEzd9WY9vBP7
#bitcoin #btc #ethereum #eth #cryptocurrency #crypto #ledger #trezor #security
Recommended Reading >> bit.ly/32kRpzw
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