Cryptocurrency, or crypto, is a digital form of currency. Everybody wants to invest in this booming market and make large profits. It has no central issuing authority, making crypto vulnerable to scams. Crypto uses a decentralised control mechanism, generally a blockchain, which publicly records transactions in digital form.

As of May 2021, there are over 10,000 cryptocurrencies in this world — Bitcoin being one of the most popular among them. The other coins are generally termed as Altcoins, meaning alternatives to Bitcoin. The list includes big names such as Litecoin, Peercoin, Namecoin and the famous Dogecoin, among thousands of others altcoins.

However, the crypto market continues to be an unknown territory for many and one must do a thorough research before investing in it, thereby avoiding chances of getting scammed. Lack of sufficient information, steep growth in the value of crypto and people’s eagerness to make a…

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