A scamcoin is a type of cryptocurrency that is created with the sole purpose of making its developers rich quick.

What Is a Scamcoin?

A scamcoin is a fake cryptocurrency that was created to make money for the creator while stealing money from people who supported and invested in the coin. These coins are often created with little or no actual value, and their developers often disappear with the money that people have invested in them.

Scamcoins are cryptocurrencies that are created with the intention of stealing people’s money. They often have properties that make them similar to existing cryptocurrencies, such as being clones or being pre-mined.

The existence of scamcoins is one of the main reasons why many current cryptocurrencies have the potential to become worthless. In other words, when someone creates an illegitimate cryptocurrency in order to steal money from people, they have, in essence, created a scamcoin.