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Common cryptocurrency scams and how to avoid them enablePagination: false endIndex: Metro Manila (CNN Philippines) — Is cryptocurrency a scam? It isn't, but you should still be careful with fraudulent schemes that ride on its popularity. Cryptocurrency is a volatile enough investment as it is. Don't fall prey to these common cryptocurrency frauds. Scam No. 1: Fake cryptocurrencies A common scam is presenting a new cryptocurrency as an alternative to popular digital monetary currencies like Bitcoin. Fraudsters would lure victims into believing it's too late to cash in on Bitcoin, and they w...