cryptocurrency and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain technology</strong></strong></a>, new scams directed at attempts to trick people out of their crypto assets have been developed.</p>\n<p>There are numerous types of scams that can be done to steal people&rsquo;s crypto coins, including blackmail, falsified <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/">initial coin offerings (ICOs)</strong></a>, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-phishing/">phishing, and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-ponzi-scheme/">Ponzi schemes</strong></strong></a>, to name a few.</p>\n<p>A common strategy is to open a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">wallet to fund an initial coin offering. 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These may refer to cryptocurrencies being funded via <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/">initial coin offerings (ICOs)</strong></a> when the developers have no intention of delivering the final product to the investors and perform a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-rug-pull/">rug pull</strong></strong></a> instead.</p>\n<p>In many cases, scamcoins are pre-mined to artificially inflate their value or are clones of other legitimate crypto tokens. They hold no real value of their own and <strong>temporarily exist</strong> solely with malicious intent.</p>\n<p>Scamcoins can have a strong negative impact on the reputation of cryptocurrencies as a whole, particularly among crypto skeptics and no-coiners who believe crypto is a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-ponzi-scheme/">Ponzi scheme</strong></strong></a> or an illegitimate financial system.</p>","level":"easy","meta_title":"What is Scamcoin? Definition & Meaning | Crypto Wiki","meta_description":"Scamcoin meaning: Scamcoin - a fake cryptocurrency created as a way for developers to obtain money.","meta_keywords":null,"language":"en","created_at":"2022-03-29T06:34:37.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-scamcoin"},"prevSection":{"id":685,"original_id":null,"author_id":41,"translator_id":null,"title":"What is S&P 500 (Standard and Poor's 500)?","slug":"what-is-sandp-500-standard-and-poors-500","section":"S","keyword":"S&P 500 (Standard and Poor's 500)","status":"published","definition":"a stock market index representing the performance of the top 500 companies in the US.","content":"<p>The <strong>S&amp;P 500 (Standard and Poor&rsquo;s 500)</strong> is one of the best internationally recognized stock market indexes. It is used to observe and measure the performance of the top 500 biggest firms in the US by market capitalization.</p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-market-capitalization-market-cap-mcap/">Market capitalization</strong></a>, or market cap, refers to <strong>the value of the combined stock shares of a corporation</strong>. The market cap of a company can be calculated by multiplying the stock price with the overall number of shares issued by the company. The S&amp;P 500 keeps track of the stock market index by analyzing the risks and returns made by the featured companies.</p>\n<p>The value of a company is calculated when its market cap is divided by the overall market capitalization. The <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-large-cap/">large-cap stocks</strong></a> of the companies featured on the S&amp;P 500 are valued at around $9.8 billion, making it a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-benchmark/">benchmark for the stock market index data.&nbsp;</p>\n<p>The S&amp;P 500 index is float-adjusted, meaning that only the shares available to investors are used to calculate the market capitalization, and any shares owned by governments or other organizations are excluded.</p>\n<p>The value is directly affected by any <strong>fluctuation</strong> in the share prices. However, the companies at the bottom of the ladder do not hold the same weight on the overall value as the top-rated organizations.&nbsp;</p>\n<p>The S&amp;P 500 is considered <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-volatility/">volatile due to the <strong>frequent fluctuations in prices</strong>. Therefore it may be difficult for those with less market experience to employ the index for market predictions. However, financial experts can use prior data trends to create prospective outlooks of the interest and return rates in the markets.</p>\n<p>Companies that aim to be featured in the S&amp;P 500 index must meet certain criteria:</p>\n<ul>\n<li>The company must be registered for public trading in the US;</li>\n<li>The market cap must be valued at at least $9.8 billion;</li>\n<li>The public float must consist of at least 10% of all outstanding shares;</li>\n<li>The company must show good income performance in the most recent quarter;</li>\n<li>The company must prove it <strong>has achieved positive earnings in the past four quarters</strong>;</li>\n<li>The company must demonstrate the payability of any short-term debts.</li>\n</ul>\n<p>All companies listed in the S&amp;P 500 must maintain operations on public markets. The companies are obligated to publicly share their quarterly and annual performance data.</p>\n<p>Furthermore, they must be tax-compliant, <strong>transparent</strong>, and provide the stockholders with complete financial clarity. The S&amp;P 500 companies must file with the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-securities-and-exchange-commission-sec/">Securities and Exchange Commission (SEC)</strong></a> regularly.</p>\n<p>The S&amp;P 500 index features some of the best-known global brands. At the time of writing, the largest companies featured on the index by weight are Apple, <strong>Microsoft</strong>, Amazon, Alphabet (Google), and Tesla. However, the index is not limited to the Big Tech companies and also features other industries, such as healthcare, entertainment, and oil &amp; gas.</p>\n<p>Traders should purchase <strong>exchange-traded funds</strong> if they wish to invest in the S&amp;P 500 index. Some of the most popular index funds used to track the S&amp;P 500 performance are the Fidelity 500 Index Fund (FXAIX) and Vanguard 500 Index Investor Shares (VFINX).</p>","level":"medium","meta_title":"What is S&P 500 (Standard and Poor's 500)? Definition & Meaning | Crypto Wiki","meta_description":"S&P 500 (Standard and Poor's 500) meaning: S&P 500 (Standard and Poor's 500) - a stock market index representing the performance of the top 500 companies in the US.","meta_keywords":null,"language":"en","created_at":"2022-03-29T06:29:08.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-sandp-500-standard-and-poors-500"},"currentChapter":"S","currentSection":"what-is-scam","chapterTitle":"S","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-scam","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Crypto Terms: Letter S

What is Scam?

Scam MEANING:
Scam - a scheme that is meant to deceive the victim and cheat them out of their physical or digital assets.
Easy
1 minute

Let's find out Scam meaning, definition in crypto, what is Scam, and all other detailed facts.

A scam is a malicious scheme that’s designed to deceive its victims. Scammers typically aim to gain access to or cheat the victims out of information, physical, or digital assets.

With the rise of cryptocurrency and blockchain technology, new scams directed at attempts to trick people out of their crypto assets have been developed.

There are numerous types of scams that can be done to steal people’s crypto coins, including blackmail, falsified initial coin offerings (ICOs), phishing, and Ponzi schemes, to name a few.

A common strategy is to open a wallet to fund an initial coin offering. Once the date of the release comes, the project is deleted, and the scammers run away with the investors’ money.

Phishing attempts include building websites that look legitimate but steal the users’ information. Scammers that use phishing may attempt to steal hot wallet addresses or bank details to transfer the funds to their own accounts.

Recently there has been an increase in scams related to non-fungible tokens (NFTs). Some “creators” may upload an NFT online or promise an NFT collection only for it to end up as a rug pull.