When you read that title, you pretty much understand what this article will talk about. If there are pump and dump schemes in the stock market, there are 10X the amount of schemes in the cryptocurrencies space. The penny cryptos are so easy to manipulate and the amount of dollars is so high and volatile, that makes it for an easy target for manipulation.

Back when Bitcoin cash started going up in value (while killing bitcoin core) a lot of people were suggesting that there was a pump and there would be a dump. So people aren’t exactly ignorant of reality. Now, in that case, it proved that in fact it was serious investors that believed Bitcoin cash had a better future than bitcoin core. But that’s a discussion for some other time.

You have probably read the news about Centra being sued massively for making deceptive statements and selling an unregistered security. Don’t know which ICO this is? Oh…it’s the one boxer Floyd Mayweather was promoting like crazy. Yea…they are in BIG trouble. But the Centra ICO is not the only one to be facing legal issues. There have been a ton of scam startups, that have ripped off people of millions and millions of dollars. Unfortunately, there are a few companies, that give the rest of the cryptocurrency community a bad name. It’s really sad…

My advice to people evaluating startups and ICOs is: check and see what’s the current business model. Most ICOs do not have a proven business model or even product, and that makes it tough to evaluate it. It’s essentially a gamble. Although I do not tell you to not put money in vision – stage only ICOs, what I am saying is, look at a handful of companies that already have a proven business model and existing clientele. Those are definitely safer bets…

I don’t typically endorse certain ICOs, but I feel like I need to bring more people to the light of Rentberry. If you thought bitcoin or ethereum are the only cryptos to change the industry and the world, think twice. Rentberry is the leading (and only) platform for long term home rentals. Basically, it incorporates all bureaucracy of renting a place, in just one place: saving on legal fees, time and even making you money if you decide to invest in people’s rental security deposits. Do your research: https://rentberry.cryptonomos.com/