Crypto Tamanga

A cryptocurrency wallet is a digital wallet that refers to an electronic device, phone app, computer software or an online service that allows an individual to make electronic transactions. It stores private and public keys and interacts with various blockchains to enable users to send and receive digital currency and monitor their balance, send money and conduct other operations. In this three part series we take a look at the types of crypto wallets and how to secure them. When a person sends you bitcoins or any other type of digital currency, they are essentially signing off ownership of the coins to your wallet’s Public Key. To be able to spend these coins(money) and unlock the funds, the Private key stored in your wallet must match the public address the currency is assigned to. If public and private keys match, the balance in your digital wallet will increase, and the sender's will decrease accordingly. There is no actual exchange of real coins(money). The transaction is s...

Financial scams such as Ponzi schemes, pyramid schemes, and the likes have been part of human civilization ever since the invention of money. However, these scams have become more prevalent since the emergence of cryptocurrencies, due to their nature – fast and anonymous. These characteristics of cryptocurrencies make them a preferred tool for bad actors in the space. Nevertheless, the modus operandi of scammers remain the same whether using fiat currencies or cryptocurrencies. Their style is to offer ridiculous returns on investments. Furthermore, they use pressure tactics to make would-be victims think that they have very limited time to take up the offer. This is done so that the would-be victim does not have time to give much consideration to the offer. Today, we will look at 5 crypto scams you should look out for in Zambia and how you can identify them. 1. THE PONZI SCHEME This is a scheme where the promoters make it seem like the business is making money and actually paying out a...