The highly speculative nature of cryptocurrencies makes them an ideal target for scammers, especially on social media. Here's how to protect yourself.
So if you’re reading the replies and see a giveaway or other get-rich-with-quick crypto promotion, it’s 99.9% sure to be a scam.One growing crypto scam on social media utilizes YouTube live videos. Researcherreported that in just one month YouTube Live giveaways defrauded $8.9 million out of investors.
As with the other social media scams, the best way to avoid this one is to do your research. Some ways to check if a YouTube channel is legitimate are:Does it have YouTube’s gray verificationHow long has the channel existed? Go to the About link in the channel’s profile and check the “stats” section to find out when the channel was created. If it’s a brand-new channel, beware.
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