The Most Common Cryptocurrency Scams!

Cryptocurrency Scams

When you start getting involved in the digital monitoring mechanism, which is new to the whole world of cryptocurrencies, it is not going to take a long time for you to recognise that it is not free of risks and cryptocurrency scams.

When you make transactions, you expose yourself to the digital world, and this is the place where you are most prone to the threats of getting your money stolen.

We are certainly not talking about the cryptocurrency market’s volatility, but other factors are. When it comes to crypto scams, they are available everywhere on the internet, and cryptocurrencies are not free of them.

Therefore, it is essential to notice that when you consider investing in different cryptocurrency start-ups and exchange platforms, you should also be well aware of the possibilities of losing your crypto investments.

When you are looking for a digital cryptocurrency company or any other start-ups, most experts recommend that you check if they are blocked in power. It means that the company should be taking all the transaction data on their own.

You must check if the business company has a solid plan to solve some real-time life problems for the people. The company should also specify the digital liquidity and the rules for the ICO. It is also essential to check if a natural person is behind their name. If there are no staff members included and available for your conversations, know that the company is fake, and this is just a scam.

If the start-up you are investigating does not have any of the abovementioned characteristics, you need to think thoroughly about your decision.

There are many cryptocurrency scams that every crypto investor might have come across once in their lifetime. If you know them, it will be easier for you to avoid them in your cryptocurrency journey.

If you want to join a bright future line in the cryptocurrency space, make sure you know the cryptocurrency scams totally to prevent yourself from them.

Imposter websites

It is a possibility that you might be following strict rules and regulations for avoiding any scam with your crypto coins but still, you can accidentally become a victim of a fake website. There is nothing to be surprised about if you visit the wrong website while visiting the one you want to invest in.

Some of the fake websites do have the exact resemblance to the original ones, and these are the ones that are more capable of scamming you on your Crypto coins. If there is no lock icon on the left side of your URL bar, you need to think before visiting the website. Also, if there is no HTTPS before the URL you visit, it may not be a legit website.

When you visit such an impostor website, it always seems the right one. However, sometimes, the imposters do create identical visiting addresses as well. Make sure to read down the address carefully before clicking on the go button on your web browser. They might add a number or replace the zero with an O, which can be a problem for you. For more information visit the Bitcoin Code platform

Fake apps

Another fundamental trick for scammers these days is developing a fake website on google play and the app store. Most of the time, the user detects the fake website and get them removed from the platform, but it does not mean that everyone can do so.

Thousands of people get scammed through the fake cryptocurrency applications available on global platforms, and therefore, you need to be very well aware of it. These are the tricks that target more android users, but as an investor, you should be aware all the time. It can be a miss-spelling in the application’s name, and sometimes, the colour and integration of Mumbai might look slightly different.

Bad tweets

Following your favourite celebs and business icons on social media platforms is common these days. So, there is a zero per cent possibility of not following an impostor account. Yes, these impostor accounts are also available on social media platforms, which applies to cryptocurrencies.

Rampant impersonating boards can lure you into fake things and steal your cryptocurrencies within seconds. Therefore, it is essential to ensure that you do not fall for any offer that provides impossible results. Fake accounts are everywhere. If the social media platform asks you to give away one percentage of your cryptocurrency, do not fall for it.

Scamming emails

Sometimes, cryptocurrency investors also get scammed through fake emails. Therefore, double-check the email whenever you receive an email requesting you to invest in a cryptocurrency company. You need to check essential features are identical branding and the logo. Also, do not forget to check if the email address is strictly the same and legit as provided by the company on its website.

Cryptocurrency scams article and permission to published here provided by Jean Nichols. Originally written for Supply Chain Game Changer and published on January 28, 2022.