And How To Avoid Them
Five (5)Cryptocurrency Scams to Watch Out For and How to Avoid Them. With this article am going to give you simple steps you must read to overcom scamers online particularly on Crypto space
It doesn’t take long once you get involved in the new digital monetary systems known as cryptocurrency to realize that these transactions are risky. And we’re not talking about the market’s volatility. Scams abound on the internet, and bitcoin exchanges are no exception. Be aware of the risks of losing your bitcoin investments when you consider investing in various firms and exchange platforms.
Experts advise that while researching digital bitcoin companies and startups, make sure they’re blockchain-powered, which implies they monitor thorough transaction data. Check to see if they have credible business plans that address real-world issues. Companies should define their digital currency liquidity and initial coin offering (ICO) standards. Real individuals should be present.
1- Imposter Websites
You may be following a solid tip from someone with a lot of expertise but still become a victim by accidently visiting a fake website. There’s a surprising number of websites that have been set up to resemble original, valid startup companies. If there isn’t a small lock icon indicating security near the URL bar and no “https” in the site address think twice.
Even if the site looks identical to the one you think you’re visiting, you may find yourself directed to another platform for payment. For example, you click on a link that looks like a legitimate site, but attackers have created a fake URL with a zero in it instead of a letter ‘o’. That platform, of course, isn’t taking you to the cryptocurrency investment that you’ve already researched. To avoid this, carefully type the exact URL into your browser. Double check it, too.
2- Fake Mobile Apps
Another common way scammers trick cryptocurrency investors is through fake apps available for download through Google Play and the Apple App Store. Although stakeholders can often quickly find these fake apps and get them removed, that doesn’t mean the apps aren’t impacting many bottom lines. Thousands of people have already downloaded fake cryptocurrency apps, reports Bitcoin News.
While this is a greater risk for Android users, every investor should be aware of the possibility. Are there obvious misspellings in the copy or even the name of the app? Does the branding look inauthentic with strange coloring or an incorrect logo? Take note and reconsider downloading.
3- Inappropriate Tweets and Other Social Media Posts
You can’t be sure you’re not following impostor accounts if you follow celebrities and CEOs on social media. The same is true in the cryptocurrency world, where malicious, impersonating bots abound. Don’t believe offers from Twitter or Facebook, especially if the outcome appears to be unattainable. Fake accounts can be found all over the internet.
If you provide someone on these networks even a modest bit of your cryptocurrency, you’re unlikely to get it back. Don’t assume that just because others are responding to the offer, they aren’t bots. You must exercise extreme caution.
4- Email Scamming or phishing
Even if it appears to be an email from a respectable cryptocurrency organization, proceed with caution before investing your digital money. Is the email exactly the same, as well as the logo and branding? Are you able to confirm that the email address belongs to the company? One of the reasons it’s crucial to choose a company with real people working for it is the opportunity to check on this. Ask someone who works there if you have any doubts about an email. Also, never go to a website by clicking on a link in an email.
Scammers frequently launch fraudulent ICOs, or initial coin offerings, in order to steal large sums of money. Do not be fooled by these phony email and website offers.
5. Telegram scammed, sometimes cryptocurrency scammers use telegram as their another way to scam people, here they will pretend to use telegram for giving updates by posting into their channel and ultimately attract more customers to scam at the end of the day. Normally they run presales basing on their project and those people who will get attracted one a few minutes they could fall into victims.
So be very careful wheather they use other methods of attraction you should be very keen to fall into the hands of scammers, and never buy Crypto currency that you have not satisfied with the research or avoid sending money particularly to crypto currency wallet address of the person whom you don’t know just by being attempted with any of the services.
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