Scammers are a dastardly, low down bunch. Preying on the gullible, extorting the vulnerable, and hoodwinking the hoodwinkable with their promise of free bitcoin if you send a little first and daily interest on your Bitconnect loan. It's an indisputable fact that if the cryptocurrency space were cleansed of scammers, the web would be a better place. It's also a fact that if you've been scammed of cryptocurrency, it's probably your fault.
Who You Gonna Call?
The biggest cause of crypto scams isn't shady operators from impoverished countries. It isn't Russian hackers with leet phishing skills and it isn't conniving con artists pawning spammy links. No, the biggest cause of cryptocurrency scams is greed. And not their greed – yours. If you lost money in Bitconnect or Davorcoin or to an email phishing scam or to "Vitalik Buterin" promising you free ETH on Twitter, you're not the victim – you're the culprit.
If people didn't keep taking the bait, scammers wouldn't keep scamming. If no one bought into Bitconnect, Bitconnect couldn't have exited with millions of dollars. If you want to get rich off crypto, put some money into three major cryptocurrencies you believe in, store them on a hardware wallet and forget about it for five years. Come 2023, you could be rich, you could be poor or you could be somewhere in between but one thing you won't be is scammed.
Unfortunately, many crypto investors seem to have adopted the 50 Cent mantra of "Get rich or die tryin'". When the shit hits the fan, instead of recognizing their foolishness and wising up, they lash out, blaming anyone and everyone. It's Twitter's fault for permitting lookalike accounts. It's regulators' fault for not cracking down on these chancers. It's ICOs fault for allowing scammers in their channel. It's the media's fault for causing FUD, forcing Bitconnect to withdraw their stellar lending service. No, it's your fault. No one else's. Yours.