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A crypto scam involves trickery to steal your cryptocurrency. Scammers often promise high returns on investments. They might also claim to have a foolproof trading strategy. These promises are too good to be true. They use various tactics to deceive people. They might impersonate a trusted entity or individual. They may also create fake initial coin offerings (ICO's). These are fundraising methods where new cryptocurrencies are sold to investors. Another common tactic is a Ponzi scheme. Here, returns to older investors are paid using funds from new investors. Scammers can also use phishing tactics. They send fake emails or texts to trick you into giving them your personal information. Remember, if it sounds too good to be true, it probably is. Always do your own research before investing in cryptocurrency.