How To Beat The Crypto Scammers

According to Tether’s website, the last audit was on September 15, and it showed a reserve of $443 million versus 420 million tether tokens.

However, we know the amount of tethers on crypto exchanges has ballooned to 2.2 billion since then. There’s a lot to be accounted for here.

What’s more concerning is the accounting firm that conducted that audit recently. It just cut ties with Tether. (This is never a good sign. It indicates the firm could have uncovered something it doesn’t like.)

If the tether isn’t pegged to a matching number of dollars, the company would be able to print ceaseless amounts of tokens, making them become essentially worthless.

We’ll continue to hear more about tether as the Commodity Futures Trading Commission investigates it. But this is one crypto asset to be wary of.

Watch Out for Crypto Scammers

Ultimately, it comes down to doing your research and relying on trusted sources, exchanges and experts.

For example, Coinbase, Kraken, Bittrex, and Cryptopia are somewhat trusted exchanges.

Be cautious when considering involving yourself with an ICO. These are where the “pump and dump” schemes can happen. Of course, there are promising ICOs out there, but to find them, you have to keep your ear to the ground. I’ll continue to keep you updated on them here.

I know there’s a lot of information out there, and it can be difficult to sift through it all.

That’s why I’m excited to work with Banyan Hill on an upcoming crypto service. There continues to be huge gains to be made in this market if you follow a disciplined, mindful plan. And that’s exactly what I use in my crypto trading system.

In fact, I already have a great trade on my radar, so be on the lookout for more news on this.

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