Bitcoin, Crypto currency, Blockchain

Binance advertising presents a risk for new investors

e62711fa1d6b9ac74169c6b01301ee5f - Binance advertising presents a risk for new investors

Currently Binance, the largest crypto exchange in the world, organized a series of promotions and giveaways.

One could assume that the company is offering a great opportunity for new crypto users, to collect some of the free crypto-currencies. In reality, these promotions are, however, a very real threat to the crypto-currency community.

This is because for every legitimate Promotion, thousands of scammers are on the move, posing as a stock market personnel, or crypto-celebrities.

Check the answers to one of the promotional Tweets of Binance and you will see many Twitter users see the similar promotional offer of gifts, with the difference that the user will need to send a small amount of Cryptocurrency to the address of the swindler.

Most experienced crypto can filter out enthusiasts such scams easily, for the newcomers in the industry, however, it may be a little difficult. Some prominent figures, including Ethereums developer Vitalik Buterin, have gone so far as to provide your Online name with a warning.

The add-on in his Twitter name is a good way for new investors from the unscrupulous fraudsters. Binance, however, complicated the issue as a whole.

By Offering legitimate freebies and promotions signals Binance new investors that this is a normal behavior in crypto. It is an action that should be legitimized more scammers than real developers immediately stopped.

The stock market is trying to combat the proliferation of fraudsters, by warns users with a pinned Tweet:

This is better than no warning, the ongoing promotional gifts in the market however, nevertheless, in the long term, a negative effect.

In order to protect your customers really should stop the advertising promotions on Twitter, and a clear dividing line between the actions of legitimate Online Accounts and impersonators.

Thus, the introduction of crypto currencies to a well-established and feasible financial solution, we must ensure that we protect new investors and security awareness promote.

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