Risk and compliance consultant Adam Tracy provides compliance, legal, operations, and risk management services to companies, such as cryptocurrency firms. In addition to leading his Chicago-based consulting firm, Adam Tracy possesses over two decades of experience as a consultant, dealmaker, and attorney.
The cryptocurrency market has grown ever since Bitcoin was launched in 2009, with over 5,000 cryptocurrencies worldwide. However, the market's lack of regulations has led to several scams. One way to avoid scams is by tempering greed. Scammers are mostly successful with greedy people who want to get rich quickly. It's safer to invest money for trading cryptocurrencies through regulated and recognized exchanges and platforms.
If you want to invest in any new cryptocurrency or crypto mining, research the promoters and their history in other ventures. Avoid those who promise unsubstantiated or guaranteed returns, as it is a sure sign of scammers looking for prey. Never invest in a cryptocurrency just because it is rising fast as it may be a pump and dump scam. Conduct research on it and its uses as well as its promoters.
Check the spelling of your service providers' website and app as misspelled ones can be clones. Never use any contact medium for your service provider apart from the official channels. Never give out your password, private key, or seed phrase as your service provider will never ask for it since it is on their records.
