Blockchain & Crypto 101 - What Are Pyramid And Ponzi Schemes & How to Avoid Them｜Explained For Beginners

💡 Naturally, there is always some degree of risk involved with any investment. However, the risk is greatly increased in cases where the investor becomes unexpectedly involved in Ponzi or pyramid schemes, which are deemed illegal in many countries. Therefore, being able to identify these schemes and to understand how they work is of great importance. 📚 Read our articles to learn more about Pyramid and Ponzi Schemes and other scams Pyramid and Ponzi Schemes ▶️ https://bit.ly/3nFGOIi 8 Common Bitcoin Scams and How to Avoid Them ▶️ https://bit.ly/3nIRUfJ 5 Common Cryptocurrency Scams and How to Avoid Them ▶️ https://bit.ly/3tceeiZ How to Spot Scams in Decentralized Finance (DeFi) ▶️ https://bit.ly/2QaI6yS ⏱️ Timestamps The Commonality Between Pyramid And Ponzi Schemes 00:00 What is Ponzi scheme 00:31 What is pyramid scheme  01:33 Ponzi vs. Pyramid 02:09 How to Protect Yourself 02:52 Is Bitcoin a Pyramid Scheme 03:35 👨🏻‍🎓 Binance Academy - Blockchain and Crypto Explained Website: https://bit.ly/3v2CWDz Twitter: https://bit.ly/3uYHdI8 Facebook: https://bit.ly/3elaW7L YouTube: https://bit.ly/3jMTrBp #Security