Crypto scams are on the rise: 5 ways to avoid them

Ever since its launch, controversy has not left Bitcoin’s site. It has fuelled hundreds of rags-to-riches stories, but at the same time, it has enabled scammers to earn millions from unsuspecting buyers and investors.

Bitcoin prices have been hovering around $9,000 for quite a few days making it a lucrative investment opportunity. The biggest challenge with the Bitcoin industry across the globe is regulation. There is still a long way for Bitcoin to become part of the common man’s general investment portfolio.

Ashish Agarwal, Founder at Bitbuddy (a Bitcoin marketplace startup) said, ” The governments themself have a lot of complexity in regulating Bitcoin but they can regulate the exchanges and other crypto service providers. As far as Bitcoin scams are concerned, one should always stay away from any type of lucrative schemes.