What are the common scams people should be aware of when using FTX for cryptocurrency trading?

1 answers

• Dec 28, 2021 · 3 years ago
  When using FTX for cryptocurrency trading, you should also be aware of pump and dump schemes. These schemes involve artificially inflating the price of a cryptocurrency through coordinated buying, and then selling it at a profit once the price has risen. Be cautious of sudden price spikes and do your own research before making any investment decisions. Lastly, be wary of social media scams. Scammers may create fake accounts or impersonate well-known individuals in the cryptocurrency industry, offering investment opportunities or giveaways. Always verify the authenticity of the account and never send money or cryptocurrency to someone you don't trust. Remember to stay vigilant and keep yourself informed about the latest scams in the cryptocurrency space. By being aware of these common scams, you can better protect yourself and your investments.
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