Hello dear Professor @yohan2on, I am with you with my first assignment submission in Crypto Academy. I have prepared a homework post on cryptocurrency scams and how to avoid them.
I'm pretty excited as this is my first assignment submission.

Entrance

• What is Cryptocurrency scam?

• In what ways is Cryptocurrency fraudulent?

• How can we take action against crypto money scams?

• To what extent has the cryptocurrency scam affected the cryptocurrency market?

• What will be the positive and negative aspects of the regulations to be made in the field of crypto money?

I will answer your questions based on the information I have learned.

What is Cryptocurrency Fraud and What Actions Can Be Taken?

Fraud, which exists in all areas of life, unfortunately also exists in the crypto currency area.

While people invest with the dream of getting rich, they may lose their savings because of these fraudsters.

In different ways, malicious people have set up fraud traps.

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You should always be vigilant against fraudulent g-activities that may occur in this market.

You can consider investing in newly established stock markets and companies. In this case, you are likely to lose all your winnings. Before doing this, you should do a very good field research. You should never invest all your savings without doing this.

First of all, when you decide to invest in a stock market, you can check whether this stock market and company have the following criteria.

• This exchange or company must have blockchain support. Be sure to check this out.
  What I mean is that it should confirm that it is tracking detailed transaction data.

• Companies should have a solid plan to solve problems and should have informed about them.

• Companies must have established ICO and digital currency liquidity rules.

• Companies must be established by real persons.

Even a little research can prevent you from getting upset later.

Types of Cryptocurrency Scams Measures to beTaken

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1. Fake Websites

You may be following people who are experts in Cryptocurrencies. You may have plans to invest with the advice of these people. Even if the expert has guided you correctly, you can become a victim by visiting a fake website.

Please be careful if the websites you visit do not have a small lock icon next to the URL bar indicating that they are safe and the address does not contain https.
You may be visiting a fake website that a scammer has set up to steal your assets.

The fake website may look the same as the one you're considering, but when it's time to pay, it will redirect you to a different platform.

My advice to you on this subject would be to write the URL correctly and check it at least twice before investing.

2. Fake Mobile Apps

As with website visits, we must be very careful when downloading mobile applications.

Another method used by scammers is to prepare fake mobile applications.

Although Google play and Apple App Store find and remove these fake applications, unfortunately, madness continues.

There are some issues that investors should pay attention to in this regard.

Please pay attention to the following criteria when downloading applications. If there is at least one of these criteria, you may be downloading a fake application.

• There will be obvious errors in the text and name of the application.

• The brand logo is in a different color, tone or not original than it should be.

3. Untrusted Tweets and Other Social Media Updates

Never trust offers from social media apps.

We know that it is quite easy to open a fake account.

4. Fraud Emails

You may receive an email very similar to the email you get at a trusted cryptocurrency company.
You should even check the e-mails you receive.

• E-mail address
• logo
• Brand

Please check if these three features are the same with the cryptocurrency company you trust.

You should also check if the email address is legitimately associated with the company.

If you encounter any suspicious situation, contact the company employees before investing.

Finally, never click on the link in the message to go to the company site.

Unfortunately, there are many ways that scammers can use.

Of course, various measures are being taken in this regard.

But do not forget that you must be careful for yourself, too. You should not be hasty and always be careful.

What are the points we should pay attention to, apart from fraudulent activities, while investing in crypto money?

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Learn About Exchanges

When you decide to invest, you should first research about the stock markets.
I would also recommend that you examine whether the following criteria exist in the exchanges that pass your reliability tests.

• What are the commission fees?
• Which cryptocurrencies does it include?
• What are the exchange possibilities?
• How the withdrawal and investment transactions are carried out.

Plan What You Will Do at High Volatility

Keep in mind that the exchange rate in cryptocurrencies is highly volatile.
You can see sudden ups and downs.

You may have sold a cryptocurrency that had a sudden drop. Don't let this situation make you panic. With panic, you can sell all the assets you have. In this case, you may experience a great loss.

You should not panic and consider making long-term investments.

Diversify Your Investment.

Diversifying your investment will also minimize the possibility of losing your money at once.

Get a Trusted Digital Wallet

One of the most important precautions you should take is to have a reliable digital wallet.
Otherwise, even if you make profitable investments in reliable exchanges, the possibility of losing your earnings will still exist.
Your digital wallet should be an offline data wallet.
These wallets are more secure than online crypto wallets.

Everything we mentioned in this post has been prepared for you to learn about cryptocurrency fraud and to be informed about the precautions you can take.
In short, our article contains tips to protect against cryptocurrency fraud.

To What extent Has Cryptocurrency Fraud Impacted the Crypto Space?

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The existence of scammers has had a very negative impact on the Cryptocurrency world.
The victimization of people by scammers has caused new investors to form negative prejudices against cryptocurrencies.

In addition, the measures taken by governments against these frauds caused users to move away from crypto money, which reduced the trading volume of exchanges.

I would like to give you an example with a fraud story.

Emerging as the Crypto Queen in 2016, Dr. A woman named Ruja Lgnatova claimed to have created a currency that rivals Bitcoin. And scammed a lot of people. Thousands of people from dozens of countries have invested in the company of the Crypto Queen with dreams of getting rich. The Crypto queen, who collected billions of euros in a short time like a year, disappeared in 2017.
He left thousands of victims behind.

This, of course, caused many investors to move away from the cryptocurrency market.

Will Regulations In Crypto Add Value To The Crypto Space?

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There will be positive and negative aspects of the regulations to be made in the field of crypto money.

Negatives

Currently, many countries do not tax cryptocurrencies. A future tax regulation will be a negative situation for users. (In addition, it will be a new source of income for countries.)

I want to give an example from my country. Turkey is one of the countries that use crypto money the most. Its daily trading volume is said to exceed one billion dollars.
With a regulation to be made, it is possible for investors to withdraw in case of taxation on crypto assets.
This will cause the transaction volume to shrink.

Positive Aspects

With the arrangements to be made, fraudulent activities can be prevented.
With the decrease in fraud, more investors will turn to this area.

In addition, if the regulations are made in a positive way for the users, it can be ensured that more investors participate in this market.

I want to give an example from my country.

Currently, it is forbidden to shop with crypto money in my country. If this ban is lifted with a future regulation on this subject, more people will meet with crypto money. The trading volume will increase in response to the demand of the stock markets.

Solution proposal

Crypto scams are, of course, a pretty negative situation for the crypto market. It causes people who hear negative stories to hesitate to enter this market.

We talked about the measures that individuals can take against fraud. However, the stock market and companies should also take the necessary precautions, as the negativities that these people will experience will be a bad advertisement in the market.
It should take serious measures against fraudsters, establish quality teams and follow up fraudulent activities.

The grievances experienced affect the prestige of companies as well as individuals.

*It was an excellent package from which I learned a lot. *

Info: Professor @yohan2on

Thank you in advance for viewing my post.

I hope it was a good post.

thanks