There is deep quest among almost all people to earn online. Those with regular offline jobs work online for extra income. This follows the fact that inflation has hit so hard that most of the money we earn is not enough.
This happens to be one way people earn online. Digital currency is replacing fiat money in a very fast pace. Since online businesses often use the internet and so Cryptocurrency matches the online business very well. This is due to the fact that both need the internet. Cryptocurrency does not need the backup of any country nor any central bank.
Cryptocurrency needs exchange companies or sites to exchange from one coin to another. There are numerous coins offered online lead by Bitcoin. Other altcoins mushroom overnite making the market overflooded by these coins.
More exchanges have made fake exchanges to spring up. These are companies which are scammers and are out to fleece unsuspecting people of their hard-earned money.
Signs of scamming Exchanges
- They are mysterious. They hide information about the owners and wherebouts. They do not operate social media accounts.
- They do not respond to support questions. Often they ignore the customers.
- They pretend to offer rewards on competitions you never participated in.
- They ask deposits to allow you to withdraw.
- They have bots rather than humans who discuss in