As Money Has Evolved, So Too Have Scams!

by Darwin on November 10, 2016

Money has evolved in so many ways. Think about it, in the ancient Egyptian times, beer was considered to be a currency. In fact, it was the world’s first. Today, we have a complex global currency system that allows for saving, investing, and turning money into more money. However, as currencies have evolved, so too have scams. It’s important to understand this evolution to help you better understand scams and avoid them in the future. With that said, today, we’re going to talk about the evolution of scams, and how to avoid becoming the next victim.

The Evolution Of Scams

Some of the earliest scams were performed by magicians. We’ve all seen the scenario. The magician will show you a ball and 3 cups. After putting the ball under one cup, the magician shuffles the cups as you keep track. However, you can never seem to keep track of exactly where that ball is. This actually originated as a scam. Essentially, you would make a bet of some silver, gold, or even cattle that you could find the ball. Unfortunately, no one ever found the ball!

As the world of investing became popular, we started to see more financial scams popping up. We’ve all heard of the Ponzi scheme and others that followed. This hit hard before consumers had control over their own investments via the internet. However, with the invention of the internet came new scams.

When the internet came, scams become more and more interesting. We saw gifting scams, pyramid scams and more. Today, there are binary options scams, push button investing scams, and several other scams that take advantage of victims online.

The Bottom Line

The bottom line here is that for every hundred good apples, there always has been, and will always be, one or two bad apples.  As the world of money evolves, the world of scams will continue to evolve. However, there is something that you can do in order to stay ahead of the game and avoid being a victim. At the end of the day, there are great binary options brokers, there are great ways to make money online, and there are ways to protect yourself from anything but legitimacy.

Don’t Be The Next Victim

While there are scams all around us, you don’t have to be the next victim. There are a few things that you should keep in mind the next time you have the question, “Is this a scam?” in your mind.

  • If It Sounds To Good To Be True, It Probably Is – First and foremost, it’s important to remember the oldest rule in the book. That rule is simple. If it sounds too good to be true, it probably is. For example, if you have an email from someone saying that they have $1,000,000 for you, all you have to do is provide your bank account information and receive the transfer, stay away, that’s a scam!
  • Always Verify Claims – Sometimes, scams will mask themselves as real businesses. However, you should be able to easily verify claims by pulling up the business name in a simple Google Search. That search will tell you if the business is real, and what products they offer.
  • Check Online Reviews – Finally, before getting involved in anything that you’re not 100% sure about, check online reviews. Chances are that if others have had a positive experience, you will too. However, if others have had a negative experience, you’ll probably see the same. So, read the online reviews to see exactly how the company you’re thinking of working with treats its customers.

Final Thoughts

The reality is that there’s always going to be scams out there, and as technology and our monetary systems evolve, scams will evolve. However, they all tend to follow the same basic lines. So, by following the tips above, you can avoid being the next victim.

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