Cryptocurrency Scams
If it's too good to be true, it's not
Crypto-currencies are experiencing an unprecedented craze lately. But what are cryptocurrencies, really? They are digital currencies, entirely virtual, that come in the form of cryptographic (encrypted) codes. These codes change over the course of the transactions made with the currency in question. We call this the "blockchain".
Initially used as a means of payment or exchange, crypto-currencies have subsequently become tools for financial speculation. And who says "speculation", says possibility to earn money, but also to lose some.
This becomes problematic when some people take advantage of the virtuality and technological advantages that cryptocurrencies offer (ease of creating a new cryptocurrency, anonymity, etc.) for scamming purposes or to cover up drug trafficking, terrorist activities or other criminal activities.
So be especially careful not to get fleeced by these scammers!
How do scammers do it?
Scammers often use virtual currencies. They promise you big winnings to lure you in and disappear with your money. Often, they look so credible that it's easy for them to trick you. So always check who you're dealing with before you invest in cryptocurrencies.
What types of scams are there?
Cryptocurrency scams can come in many forms. Scammers try to trick their victims in multiple ways. Be extremely careful when paying online with cryptocurrencies, if you are doing sports betting, investing on trading platforms with cryptocurrencies. For more information on these different types of scams, please visit our FAQ section.
Tips to protect yourself
1. Do Your Research
It can be hard to ignore advice from billionaires and influencers online, but you should do your own research before investing when it comes to your money. Don't take any information online at face value. If an investment sounds too good to be true, it's probably a scam.
Get 500$ Voucher https://cutt.ly/mKPeWOZ
2. Don't Trust Everyone
Treat anyone who contacts you directly to ask for payments in cryptocurrency or offers you an investment opportunity regarding crypto with extreme caution. Don't trust emails even if they appear to be from government officials, public figures—anyone who asks you to pay for anything using cryptocurrency.
3. Secure Your Crypto Wallet
You probably have stories about people who lost at least a few Bitcoins due to losing control of their virtual wallets. If you do own cryptocurrencies, never share your private key or seed phrase with anyone. Instead, we recommend storing that information somewhere offline.
4. Use Multi-Factor Authentication
Use multi-factor authentication on your crypto wallet to try to keep the bad guys out. It's not a sure-fire solution, as we learned after the Coinbase hack, but it gives you a fighting chance against many attackers.
5. Check That URL
Keep an eye on the URL for the websites you visit related to crypto. Many phishing scammers copy the URL of legitimate sites and swap out letters or numbers. You also want to ensure the site is secure, so look for the little lock symbol next to the URL.
Remember to turn on your antivirus software. The best AV we've tested looks out for phishing scams on your behalf and also blocks malicious URLs.
6. Reject Fee Offers
You may see crypto offers that require an up-front fee. Reject them all, and especially avoid "offers" involving a fee to be paid in cryptocurrency. Many of the investment opportunities in the crypto realm are scams. Before investing anything, you need to check the company's website to find out how they protect their customers and look for reviews from other investors.
Comments
Post a Comment
Thank you for reaching out.
we will answer as soon as possible.