Crypto

The Adoption Headache: Five Categories Of Cryptocurrency Scams That Hinder Crypto Adoption

Published

1 year ago

November 28, 2022

The Adoption Headache: Five Categories Of Cryptocurrency Scams That Hinder Crypto Adoption

Illuminated by a laptop computer display a drained trying African-American lady is resting her elbow on a desk … [+] and her head on her hand whereas staring on the display

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The anatomy of a crypto rip-off is sweet to know. As they preserve evolving, the very best safety is to know what to anticipate with a purpose to make them simpler to level out. Listed below are 5 classes of crypto-related scams that lure traders.

Phishing Scams

These scams goal on-line cryptocurrency wallets. In a seemingly authentic electronic mail, there might be directions to substantiate one thing to do with id or a latest transaction. Some prompts come within the type of a pop-up mimicking the true pockets service supplier.

All phishing scams require a secondary login, which forces a consumer to re-enter their info. Their goal is the consumer’s non-public keys.

Phishing, E-Mail, Community Safety, Laptop Hacker

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Whereas it is likely to be simple to overlook to sign off of a cryptocurrency pockets, it is important to make sure that logins are safe. It is even higher so as to add two-factor authentication so as to add an additional layer of safety to the providers you employ. Moreover, except it is an energetic and ongoing transaction, chorus from sending funds.

Faux Influencer or Celeb Endorsements

In mid-2020, a number of high-profile Twitter accounts underwent a simultaneous hack. The group focused tens of millions of customers that may belief these accounts. A few of these accounts had been of Apple
AAPL
, Elon Musk, Wiz Khalifa, and Joe Biden. The message claimed that the individual or firm was “giving again to the neighborhood”. All that the “neighborhood” needed to do was ship Bitcoin
BTC
to a sure handle, and it will be doubled.

The time was restricted on such a suggestion. The assault went on to focus on extra accounts with a excessive following and indicated a number of addresses. Earlier than its scope could possibly be detected, the principle handle had already acquired 12.5 bitcoin or about $116,000 on the time.

Faux Information idea with grey phrases ‘reality’ in row and single daring phrase ‘pretend’ highlighted by black … [+] magnifying glass on blue background

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As a very good rule of thumb, observe the subjects your most well-liked influencer or celeb talks about. If you understand how they converse, or how they assess traits, you can establish when one thing is off their normal dialog. Higher but, if you already know their values, it is possible for you to to identify the rip-off, ought to their account be compromised.

Faux Web sites

On a pretend cryptocurrency funding web site, group, or utility, the platform usually mimics one thing substantial. The rip-off might use imagery, the same web site hyperlink, and even be as shut as potential to an impartial funding platform.

On such a web site, there are many testimonials and attribution to a sure individual. If the rip-off is on Telegram, for example, the individual will insist on how a lot revenue they’re making and provoke an unsuspecting investor to begin with as little as $50.

Bitcoin register a lure. Cryptocurrency is a lure for cash.

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The attract of a few of these pretend web sites is that they may reward the primary or second deposit that they promise to double in 24 hours. The short attract of excessive returns usually dupes traders to usher in extra capital, and earlier than they understand it, they cannot make a withdrawal.

The nightmare for traders turns into clear when all efforts to hint their recruiters go futile. At all times counter-check hyperlinks; if they’re suspicious, chorus from interacting additional with them.

Cloud Mining Scams

These scams closely promote passive revenue. They declare that traders could make all of the earnings with out all of the work. By design, they provide a rental mannequin for mining {hardware} in trade for the proposed income. Ordinarily, the deal makes it seem to be traders are going to place in minimal capital and make every day returns.

Nonetheless, the returns do not mirror till it is too late. This was the case with the notorious Bitclub community, the place traders had been invited to personal shares in mining tools. Whereas the community operated the mining tools, traders might sit again to observe the returns from their shares.

Ponzi scheme Enterprise pyramid community with traders group as victims in pretend firm revenue … [+] statistics Monetary fraud Unlawful funding rip-off Stealing cash from individuals idea vector illustration

getty

The fact was that it rapidly grew to become a Ponzi scheme. As an alternative of the community buying extra bitcoin mining tools, it by no means upheld its mannequin. Moreover, heavy promotion and elevated recruitment solely added to the community’s weight earlier than it collapsed to the detriment of unsuspecting traders.

Blackmail Scams

Whereas these scams depend on social engineering, they’re usually laborious to dismiss. A scammer can acquire any type of info out of your on-line profiles, and use it to rip-off others. In some circumstances, they could hijack a social profile, and demand a cryptocurrency fee to revive entry.

Another scammers declare to have grownup web sites or content material in opposition to somebody. They could proceed to spam the individual’s account, threatening to leak damaging info. Their requirement to the individual beneath risk is to ship their non-public keys or fee to an undisclosed account. Some scammers demand fee in Bitcoin or in Monero
XMR
, which is a non-public cryptocurrency.

Hacker attacking web

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If somebody you already know experiences such a rip-off, it is advisable to chorus from participating with the stated hacker. Moreover, it is important to vary passwords, regain account entry, if it is compromised, and use the precise channels to report such an assault.

Hindrances to Crypto Adoption

Undoubtedly, scams expose traders to the disagreeable facet of cryptocurrencies. Whereas Bitcoin will get a unfavorable status for what it did not do, realizing what’s dangerous would be the key to differentiating and due to this fact selecting out what’s good. Folks will nonetheless have mistrust towards Bitcoin and different cryptocurrencies whereas scams persist.

Cryptocurrencies, in and of themselves are instruments. What’s needful is separating the dangerous actors from the instruments, as on this case cryptocurrencies are used. The identical nefarious actors would use money, bank cards, or financial institution accounts to focus on traders’ funds.

As a greater understanding of scams involves mild, fewer traders should endure; maybe growing constructive adoption of cryptocurrencies.

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Crypto

Revealed: Countries with the Highest Cryptocurrency Ownership, 2024 – CEOWORLD magazine

Published

1 hour ago

May 11, 2024

Press Room

Revealed: Countries with the Highest Cryptocurrency Ownership, 2024 – CEOWORLD magazine

A recent report by CEOWORLD magazine has ranked countries based on their cryptocurrency ownership rates. The study found that the United Arab Emirates (UAE) has the highest percentage of its population who own crypto, with almost 30.39% of the UAE’s total population owning crypto. This is largely due to the country’s favorable regulations towards blockchain technology, and the use of cryptocurrency is legal. Vietnam ranks second-highest among countries with the highest cryptocurrency ownership, with almost 21.19% of the total population owning crypto. The rapid digitization of the economy in Vietnam is responsible for the surge in crypto ownership across the country.

It is worth noting that if we were to rank countries based on the number of people who own cryptocurrency, India would come in first place with 93 million crypto owners, followed by China with 59 million, and the US with 52 million crypto owners coming in third place.

Countries with the Highest Cryptocurrency Ownership, 2024

Rank	Country	Population	Ownership	Ownership Percentage
1	United Arab Emirates	9,516,871	2,892,107	30.39
2	Vietnam	98,858,950	20,945,706	21.19
3	United States	339,996,563	52,888,108	15.56
4	Iran	89,172,767	12,000,000	13.46
5	Philippines	117,337,368	15,761,549	13.43
6	Brazil	216,422,446	25,955,176	11.99
7	Saudi Arabia	36,947,025	4,201,789	11.37
8	Singapore	6,014,723	664,627	11.05
9	Ukraine	36,744,634	3,885,037	10.57
10	Venezuela	28,838,499	2,970,365	10.3
11	South Africa	60,414,495	6,041,450	10
12	El Salvador	6,364,943	636,494	10
13	Argentina	45,773,884	4,451,944	9.73
14	Thailand	71,801,279	6,902,630	9.61
15	Canada	38,781,291	2,714,177	7
16	Pakistan	240,485,658	15,879,216	6.6
17	India	1,428,627,663	93,537,015	6.55
18	Mexico	128,455,567	8,409,115	6.55
19	Russia	144,444,359	8,749,780	6.06
20	Nigeria	223,804,632	13,261,259	5.93
21	Germany	83,294,633	4,814,430	5.78
22	United Kingdom	67,736,802	3,888,092	5.74
23	Turkey	85,816,199	4,825,626	5.62
24	Kenya	55,100,586	2,796,738	5.08
25	Morocco	37,840,044	1,921,753	5.08
26	Colombia	52,085,168	2,582,764	4.96
27	France	64,756,584	3,056,511	4.72
28	Nepal	30,896,590	1,410,342	4.56
29	Indonesia	277,534,122	12,205,132	4.4
30	China	1,425,671,352	59,134,683	4.15
31	Japan	123,294,513	5,096,970	4.13
32	South Korea	51,784,059	2,120,185	4.09
33	Ecuador	18,190,484	695,148	3.82
34	Cambodia	16,944,826	582,232	3.44
35	Spain	47,519,628	1,452,158	3.06
36	Egypt	112,716,598	3,423,723	3.04
37	Belarus	9,498,238	285,325	3
38	Malaysia	34,308,525	1,011,146	2.95
39	Poland	41,026,067	1,200,394	2.93
40	Netherlands	17,618,299	489,182	2.78
41	Australia	26,439,111	726,241	2.75
42	Portugal	10,247,605	276,185	2.7
43	Peru	34,352,719	881,811	2.57
44	Bangladesh	172,954,319	4,318,791	2.5
45	Italy	58,870,762	1,469,892	2.5
46	Lebanon	5,353,930	132,845	2.48
47	Hong Kong	7,491,609	180,991	2.42
48	Tanzania	67,438,106	1,621,947	2.41
49	Georgia	3,728,282	89,055	2.39
50	Taiwan	23,923,276	567,594	2.37
51	Palestine	5,371,230	126,293	2.35
52	Honduras	10,593,798	241,679	2.28
53	Bulgaria	6,687,717	150,302	2.25
54	Algeria	45,606,480	1,022,874	2.24
55	Ghana	34,121,985	759,162	2.22
56	Seychelles	107,660	2,347	2.18
57	Chile	19,629,590	421,831	2.15
58	Dominican Republic	11,332,972	243,632	2.15
59	Moldova	3,435,931	72,498	2.11
60	Tunisia	12,458,223	257,623	2.07
61	Jamaica	2,825,544	58,011	2.05
62	Bolivia	12,388,571	252,801	2.04
63	Switzerland	8,796,669	177,525	2.02
64	Somalia	18,143,378	351,706	1.94
65	Czech Republic	10,495,295	200,955	1.91
66	Sri Lanka	21,893,579	416,339	1.9
67	Iraq	45,504,560	845,138	1.86
68	Mozambique	33,897,354	630,991	1.86
69	Ivory Coast	28,873,034	537,819	1.86
70	Serbia	7,149,077	131,775	1.84
71	Ethiopia	126,527,060	2,259,197	1.79
72	Belize	410,825	7,366	1.79
73	Costa Rica	5,212,173	92,614	1.78
74	Kazakhstan	19,606,633	341,971	1.74
75	Armenia	2,777,970	48,266	1.74
76	DR Congo	102,262,808	1,758,920	1.72
77	Kyrgyzstan	6,735,347	115,621	1.72
78	Cameroon	28,647,293	481,930	1.68
79	Romania	19,892,812	333,758	1.68
80	Bahamas	412,623	6,638	1.61
81	Sweden	10,612,086	170,092	1.6
82	Jordan	11,337,052	178,935	1.58
83	Estonia	1,322,765	20,564	1.55
84	Greece	10,341,277	157,757	1.53
85	Myanmar	54,577,997	806,426	1.48
86	Rwanda	14,094,683	208,229	1.48
87	Slovakia	5,795,199	85,537	1.48
88	Uzbekistan	35,163,944	512,332	1.46
89	Guatemala	18,092,026	263,422	1.46
90	Belgium	11,686,140	168,588	1.44
91	Mongolia	3,447,157	49,553	1.44
92	Zimbabwe	16,665,409	238,138	1.43
93	Finland	5,545,475	77,263	1.39
94	Laos	7,633,779	105,579	1.38
95	Barbados	281,995	3,856	1.37
96	Uruguay	3,423,108	46,251	1.35
97	Albania	2,832,439	38,109	1.35
98	Austria	8,958,960	120,181	1.34
99	Hungary	10,156,239	134,603	1.33
100	Panama	4,468,087	59,505	1.33
101	Senegal	17,763,163	230,279	1.3
102	Benin	13,712,828	178,470	1.3
103	Latvia	1,830,211	23,797	1.3
104	New Zealand	5,228,100	67,275	1.29
105	Mali	23,293,698	293,819	1.26
106	Croatia	4,008,617	50,520	1.26
107	Togo	9,053,799	113,348	1.25
108	Israel	9,174,520	113,814	1.24
109	Nicaragua	7,046,310	87,095	1.24
110	Paraguay	6,861,524	85,078	1.24
111	Mauritius	1,300,557	16,082	1.24
112	Lithuania	2,718,352	33,462	1.23
113	Cyprus	1,260,138	15,415	1.22
114	North Macedonia	2,085,679	25,111	1.2
115	Uganda	48,582,334	578,284	1.19
116	Denmark	5,910,913	70,605	1.19
117	Madagascar	30,325,732	356,559	1.18
118	Azerbaijan	10,412,651	121,397	1.17
119	Norway	5,474,360	63,735	1.16
120	Slovenia	2,119,675	24,498	1.16
121	Montenegro	626,485	7,239	1.16
122	Bosnia and Herzegovina	3,210,847	36,202	1.13
123	Ireland	5,056,935	56,166	1.11
124	Saint Lucia	180,251	2,002	1.11
125	Zambia	20,569,737	220,509	1.07
126	Trinidad and Tobago	1,534,937	16,467	1.07
127	Angola	36,684,202	381,696	1.04
128	Namibia	2,604,172	26,961	1.04
129	Botswana	2,675,352	27,457	1.03
130	Malta	535,064	5,504	1.03
131	Maldives	521,021	5,353	1.03
132	Luxembourg	654,768	6,484	0.99
133	Suriname	623,236	6,170	0.99
134	Fiji	936,375	9,082	0.97
135	Iceland	375,318	3,626	0.97
136	Burkina Faso	23,251,485	223,201	0.96
137	Haiti	11,724,763	111,385	0.95
138	Tajikistan	10,143,543	95,902	0.95
139	Republic of the Congo	6,106,869	58,015	0.95
140	Libya	6,888,388	64,863	0.94
141	Gabon	2,436,566	22,528	0.92
142	Bahrain	1,485,509	13,536	0.91
143	Afghanistan	42,239,854	381,110	0.9
144	Malawi	20,931,751	187,835	0.9
145	Qatar	2,716,391	24,557	0.9
146	Guyana	813,834	7,127	0.88
147	Brunei	452,524	3,892	0.86

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Crypto

Interesting Altcoins | May 2024 Cryptocurrency With Room To Grow | ChainBits

Published

8 hours ago

May 11, 2024

Press Room

Interesting Altcoins | May 2024 Cryptocurrency With Room To Grow | ChainBits

The bull run of 2024 has ignited excitement across numerous lesser-known coins. This article looks closely at some altcoins that show potential for growth. With the market’s direction aimed upwards, these selections could be the focus for investors aiming to expand their portfolios. The insights here are tailored to guide choices in a climate ripe for investment, steering attention towards coins that may not be household names but have promising futures.

BlastUP Token Projected to Soar 1000% By Year’s End

BlastUP has been getting a lot of attention lately thanks to its high potential to become a major force in the crypto industry. This pioneering launchpad on Blast has already attracted nearly 15,000 active users.

The ongoing presale of BlastUP is a huge success, with around $6 million raised so far. The BlastUP token is considered by crypto experts as a hidden crypto gem that can skyrocket 1000% by the end of this year.

>> Buy BlastUP Tokens <<

BlastUP helps crypto startups grow faster and earn more. As BlastUP forges ahead, it remains committed to creating a global hub for the Blast community. BlastUP is rapidly gaining traction for the benefit of all participants in this ecosystem.

BlastUP’s roadmap extends into 2026, promising the introduction of AI-driven tools and the Community Marketplace, further enriching the ecosystem’s capabilities.

The BlastUP token, a cornerstone of the platform, unlocks access to tiered IDO launches, staking rewards, and exclusive loyalty benefits.

>> Join BlastUP <<

Polkadot’s Market Sees Mixed Signals Amid Varied Performance

Polkadot’s market sentiment appears to be cautious with a mixture of positive and negative trends. Recently, Polkadot has seen modest gains in the short term, but this is contrasted by a decline over the last month. The medium-term perspective shows significant growth. The current trading pattern suggests investors are weighing their confidence in Polkadot’s underlying technology and its capacity for building a scalable, interconnected blockchain ecosystem against the broader market’s challenges. The sentiment is finely balanced, reflecting an air of uncertainty about the coin’s immediate direction.

Polygon Sees Mixed Signals Amid Varied Market Sentiments

Polygon is currently experiencing a tug of war between buyers and sellers, reflecting a state of uncertainty in the market. Recent price actions suggest cautious optimism as the coin has managed to hold its ground despite downward pressure. However, the overall decline over the past month indicates a lingering wariness among investors. The coin’s utility in scaling Ethereum transactions and supporting various decentralized applications gives it a strong foundation, which might attract long-term interest despite the current market hesitancy.

Osmosis Market Stabilizes Amidst Varied Performance

In recent times, the trading patterns of Osmosis have shown mixed signals to investors. While it appears to be steadying after a period of decline, buyers and sellers are finding common ground somewhat lower than previous highs. The market’s behavior suggests a balancing act between optimism and caution. With Osmosis’ unique position as a liquidity provider in the decentralized finance (DeFi) ecosystem, its ability to attract new liquidity could be a driving factor in its potential upward movement, should market sentiment shift favorably.

Ondo Shows Bullish Signs Amid Market Fluctuations

The Ondo token has been attracting attention with its recent performance. Despite variable market movements, the general sentiment around Ondo appears bullish as it consistently trades above key benchmarks. This positive trend is reinforced by steadily climbing short-term averages and interest from traders. The coin’s foundational traits, which emphasize secure and efficient transactions within its ecosystem, suggest that the uptrend might sustain if these characteristics resonate with the wider crypto community’s needs for reliable digital currencies.

Conclusion

Altcoins such as DOT, MATIC, OSMO, and ONDO have shown promise for growth in the current bull market. Despite this potential, in the short term, they exhibit less room for significant jumps in value. Instead, the standout with the most growth potential is BlastUP. This coin draws attention due to its innovative concept and the advantage of being part of the Blast ecosystem. Investors looking for promising opportunities might find BlastUP an intriguing project to consider. It stands out as the altcoin with the highest potential as of May 2024.

Site: https://blastup.io/

Twitter: https://twitter.com/Blastup_io

Discord: https://discord.gg/5Kc3nDhqVW

Telegram: https://t.me/blastup_io

Disclaimer: Chainbits is not the source of this content. This article is provided for educational purposes only. Users should exercise caution with investing/dealing with cryptocurrencies and do thorough research prior.

18:09

Crypto

3 Cryptocurrency Trends: XRP's Potential Surge, BlockDAG Innovations, and Hedera's Achievements

Published

15 hours ago

May 11, 2024

Press Room

3 Cryptocurrency Trends: XRP's Potential Surge, BlockDAG Innovations, and Hedera's Achievements

The cryptocurrency landscape is currently experiencing fascinating changes as different digital currencies display distinct growth patterns. For example, XRP shows promise of an imminent surge, as indicated by technical markers like the monthly RSI, which suggests a pattern similar to historical rallies. In contrast, Hedera has recently celebrated a milestone of over 50 billion transactions, with its market performance suggesting strong investor interest.

Amid these developments, BlockDAG Network has gained considerable attention, particularly for its prominent exposure on YouTube. Lux Crypto’s thorough analysis sheds light on BlockDAG’s practical innovations, such as the cryptocurrency payment card, which forecasts significant growth and makes it a significant topic in crypto discussions.

Will XRP Ascend? Analysis from Bitcoin Expert Miky Bull

Bitcoin expert Miky Bull anticipates a substantial rise for XRP, pointing to a breakout signalled by the monthly Relative Strength Index (RSI). His analysis highlights a symmetrical triangle pattern in XRP’s monthly chart, ongoing since its peak in 2021. Miky Bull also notes a similar pattern from 2014 to 2017, which preceded a major surge. He underscores the recent testing of the triangle’s boundaries and increased acquisition of XRP by major investors as indicators of a potential breakout.

While Miky Bull refrains from precise price forecasts, other analysts predict XRP could reach between $13 and $200. However, the wider market remains wary due to ongoing regulatory challenges impacting cryptocurrencies.

Lux Crypto’s Optimistic Outlook on BlockDAG: Predictions and Insights for 2025

BlockDAG is swiftly emerging as a prominent blockchain player, with strategic support from notable influencers like Lux Crypto. As a leading Layer 1 blockchain network, BlockDAG has attracted substantial attention and investment, raising over $24.6 million from presale events and an additional $2.4 million from miner sales. Lux Crypto has played a crucial role in promoting BlockDAG’s benefits, particularly through his detailed YouTube analyses, exploring its unique capabilities and its potential to revolutionize daily cryptocurrency transactions.

Moreover, BlockDAG’s introduction of the crypto payment card marks a significant innovation, facilitating easy management and transaction of digital and fiat currencies within the BlockDAG ecosystem. Lux Crypto recently emphasized the card’s utility in connecting traditional financial systems with the cryptocurrency world, enhancing transaction accessibility globally.

Lux Crypto also projects that BlockDAG’s value could reach between $40 and $50 by the end of 2025, sparking further interest. His endorsement highlights the financial benefits of investing in BlockDAG during its presale phases and supports its scalability and mining enhancements. This excitement is echoed in the community, with many anticipating considerable returns and a strategic $2 million giveaway to boost BlockDAG’s market presence.

Hedera’s Bullish Market Signals After Surpassing 50 Billion Transactions

In contrast, Hedera (HBAR) has recently exceeded 50 billion mainnet transactions, indicating its rising popularity and usage, as noted in a recent network tweet. This achievement coincided with an 8.08% increase in HBAR’s value over the past day to $0.1187, following its breakout from a horizontal trading pattern.

The cryptocurrency’s technical indicators are also promising, with a daily RSI of 57.59, suggesting strong buying interest and potential for further growth. Additionally, HBAR’s current price surpasses its 200-day moving average of $0.08615, often seen as a bullish market indicator.

Concluding Thoughts

As the cryptocurrency sector evolves, the differences between various digital currencies become increasingly clear, each establishing its niche in the market. XRP and Hedera stand out with their impressive technical achievements and transaction volumes.

However, BlockDAG’s distinctive strategy uniquely positions it within the community, especially its visibility on platforms like YouTube. Lux Crypto’s engaging and detailed presentations clarify BlockDAG’s technology and emphasize its significance and potential for real-world applications. As the industry progresses, BlockDAG’s blend of innovative technology and practical usability sets an inspiring standard for future developments.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.