Cryptocurrencies and Scams: How Financial Education Can Make a Difference
Cryptocurrencies were born as a tool to improve the economy worldwide, eliminating intermediaries, reducing time, and erasing geographical barriers. Unfortunately, as in many other activities in society, there are people or groups that find in them the possibility of deceiving and making a profit at the expense of others. In the case of cryptocurrencies, there are several cases of scams suffered by less informed and inexperienced investors.
The best way to be sure not to fall for a scam is to have all the information necessary to recognize it. This can be achieved through web3 financial education, in which the fundamental concepts to understand cryptocurrencies are acquired. Questions like what they are, how they are used, how to differentiate a serious project from one that is not, how to invest, and many others are the key questions to ask.
There are many initiatives and courses for those starting out in the crypto world or those who want to know more to do so. One of the most recognized is the Introductory Course to Cryptocurrencies carried out by the NGO Bitcoin Argentina in conjunction with the cryptocurrency exchange BingX.
These courses help to understand the current monetary scenario and the main characteristics of Bitcoin, Ethereum, and other cryptocurrencies. In addition, it allows participants to obtain the essential knowledge and skills for the safekeeping and regular use of cryptocurrencies while presenting the potential of decentralized technological innovations that will transform the future of finance.
Pyramid schemes and people’s illusion of making a lot of money in a short time through cryptocurrencies have given rise to high-profile cases in Argentina, such as Generation Zoe a few years ago or the scam of hundreds of residents of San Pedro earlier this year. In both cases, people’s lack of education led them to invest in projects for which they didn’t have the necessary information while understanding the associated risks.
The NGO has been working for more than 11 years in disseminating and promoting Bitcoin, cryptocurrencies, and Blockchain through education, training, and social projects. Its mission is to bring to individuals, productive sectors, and decision-makers the opportunities offered by decentralized, transparent, traceable, secure, and consensual technologies. Its commitment also lies in preventing scams and supporting those who have already been affected. It has an Initial Legal Guidance Clinic for victims of scams and works to empower the community with the necessary tools to identify and avoid fraud. By promoting these types of courses together, we protect our ecosystem and work to create a safer and more transparent environment.
Ultimately, cryptocurrency and web3 finance education is vital to building investor confidence and security in the crypto world. By acquiring basic knowledge about these assets, users can identify serious projects and legitimate opportunities more clearly, avoiding falling for false promises or scams. Only through training and access to verified information will new users be able to navigate the crypto space safely, making the most of its benefits while protecting themselves from unnecessary risks.
About BingX
Founded in 2018, BingX is one of the leading cryptocurrency exchanges with over 10 million users worldwide. BingX offers a wide variety of products and services including spot, derivatives, copy trading, and asset management, all tailored to the evolving needs of our users, from beginners to professionals. BingX is committed to providing a trusted platform that empowers users through innovative tools and features to elevate their trading game to the next level.
In 2024, BingX became a proud principal partner of Chelsea FC, marking its debut in the world of sports.
For press inquiries, please contact media@bingx.com
For more information, please visit www.bingx.com/en-us/
About NGO Bitcoin Argentina
The Civil Association for the Development of Decentralized Ecosystems -DECODES- (NGO Bitcoin Argentina), since 2013, promotes and disseminates the opportunities offered by decentralized, transparent, traceable, secure and consensual technologies, offering training instances and generating public and political incidence. The vision of ONG Bitcoin Argentina is to be the Argentine reference and most reliable organization in matters related to the crypto world and decentralized technologies. Its focus is on defending users and promoting healthy development of the crypto ecosystem.
