The Complete Guide to Cryptocurrency-Related Rug Pulls and How to Spot Them

Decentralized Finance, or DeFi, refers to Peer-to-peer (P2P) financial instruments created on top of a blockchain system (most DeFi coins use the Ethereum blockchain network) that don’t rely on central intermediaries (Banks and other financial facilitators). According to Coingecko, the DeFi space will be worth more than $100 billion in 2021. The influx of money combined with lack of legal governance, risk management, and compliance has made DeFi space a popular target for gamblers and fraudsters. The ‘Zero-sum game’ nature of these transactions means someone must lose money in order for someone else to profit. Often people get caught to rug pulls and end up funneling lot of money to small group of insider traders. In this article we examine how exit scams are performed, as well as how a vigilant investor may track and investigate such behavior in the crypto space.

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What is Cryptocurrency and How to Get Them as Someone Living Outside the USA

Blockchain, NFTs, and Cryptocurrencies are the hottest buzzwords in the internet space today. The value of Bitcoin has skyrocketed from about $1,000 per coin to more than $30,000 in a matter of few years. If you have been wondering what all the hype is around Cryptocurrency or looking for ways to make money from Cryptos, below is a beginner’s guide on investing in blockchain technology and everything you need to know about Cryptocurrencies as a beginner. Also, for our readers living outside the USA, we’ll provide you with a guide on purchasing cryptocurrency from anywhere in the world.

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