Another Scam Dies. Here’s Why This Is Bullish News
- A highly unregulated market creates room for foul players to enter the crypto space.
- Investors are lured by high APY’s, disregarding red flags for projects.
- Signs of cryptocurrency scams mean investors will have to enhance their due diligence.
- Trading cartoonish tokens with unattainable financial promises is a form of trade gambling.
Crypto in 2021 is not dissimilar to 2017. ICO as a crowdfunder has contributed to the extension of the range of developments in crypto projects. In 2017 only 1,300 coins were registered on CoinMarketCap. In 2021, the market is less forgiving, as novice investors are more susceptible to the increased number of marketing schemes, drawn in by the promise of huge financial gains. As a result, fresh investors are prone to falling victim to crypto scams, hindering the market from developing positively in the long term.
Another Crypto Bites…