Although there are many advantages to cryptocurrencies, aswe’ve discussed in our previous blog posts, we at Voltcoins believe that youshould not ignore the negative aspects of the industry as well. We are stronglycommitted to operating transparently, since that’s the only true way toestablish a long-term relationship with our customers.
Today we analyze one of the recent scandals involving BitBoyCrypto and its public face Ben Armstrong. After discussing the ins and outs, wehope to emphasize the advantages of working with a safe crypto exchange.
BitBoy Crypto and Ben Armstrong
For those who don’t already know, BitBoy Crypto is a popularinfluencer brand with over 3.3 million followers. Recently, BJ InvestmentHoldings, the parent company that controls the brand, cut ties with its publicface – Ben Armstrong.
The reason behind the decision deals with issues aroundsubstance abuse and financial damage to employees. This isn’t the first timethe crypto influencer takes the spotlight for all the wrong reasons. He wasinvolved in a class-action lawsuit, allegedly promoting the now-bankrupt cryptoexchange FTX without proper discretion.
Armstrong also used the brand’s X (formerly Twitter)account, which has 1 million followers, to insult several popular figures suchas the ECB’s President and SEC’s Chair. We as a safe crypto exchange believethat this kind of behavior should not be tolerated, especially when it comes todealing with assets such as crypto. That is why we always operate transparentlyand ensure that no ulterior financial motives become part of our modus operandiand affect our services.
The crypto industry – still a wildwest?
This brings us to the point - You must carefully choose theopinions you are exposed to, especially with so many self-proclaimed cryptoinfluencers out there today. You should always check the hidden motives of thepeople you follow online.
Unfortunately, the broad cryptocurrency space is stillmaturing, and it might take a while for it to cleanse itself of all the fakeand promoted content. In the meantime, a good way to protect your crypto is byworking only with licensed/regulated crypto brands.
Voltcoins is a safe crypto exchange, since we are fullylicensed to provide such services. This means that authorities oversee how wehandle our exchange platform, and this is just another means we take to shieldourselves from foreign influence.
Advantages of working with a safecrypto exchange
It would be fair to assume that shady influencers willcontinue to operate in this space, so you need to know how to avoid them. Whenit comes to actually buying and selling crypto, as we’ve said many timesbefore, the only way to truly protect your funds is by working with a safecrypto exchange.
At the end of the day, it is up to you to make sure that youreceive reliable information regarding crypto and valuations. The rule of thumbis that if it sounds too good or exaggerated to be real, it probably isn’t.
We at Voltcoins will continue to do all in our power to staytransparent and safe, and we hope this blog post has helped you understand thetrue dangers of the fake information that is out there.