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How do I avoid crypto scams?

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Joined: 5 months ago
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How do I avoid crypto scams?

Cryptocurrency has gained a lot of popularity in recent years, and so many new investors are jumping into the crypto bandwagon. Sadly, the number of scams and fraud schemes have also increased as more money flows into crypto. Scammers are able to fool people, because there is a lack of knowledge about security against scams.


Here are some tips that will help you avoid crypto scams:


1) Beware of Links You Open

Scammers can send you phishing links - pages that look like the one you think you are visiting, but are actually fake. You should always re-read the link from your browser’s address bar to make sure you are on the real website and not a fake one. Plus, make sure there is “https” before the URL. If there is no “https” your personal data might be at risk.


2) Imposter Accounts

Scammers would mimic celebrities or other famous businessmen on social media platforms to ask for crypto from you. Verify whether the account is real or fake by checking their number of followers or by looking for a verified sign. Even if it is a real profile, you should not send any cryptocurrency if they promise you that your money would double in 24 hours. Because chances are that the account got hacked and a scammer could be making those posts to steal crypto from their followers.


3) Emails

Try not to share your emails publicly on the internet. Make a separate email, one which is not linked to any of your accounts on a crypto exchange or wallet. Use the other email for signing up for newsletters and other stuff on forums and elsewhere. However, if you have shared your email, then the only way to be safe from scammers is to avoid clicking any links that seem suspicious. Scammers can send you emails inviting you for the next token ICO that they would claim is going to the moon. Do not open these links if you haven’t heard about the project before. It is more likely a fraud if you haven’t seen the project before.


4)Giveaway Scams

Do not participate in a giveaway if the website or social media handle asks you to submit some tokens to verify your wallet. Once you send your tokens, you won’t get them back and find out that there was no giveaway in the first place. 


5)Investment Scam

If a project claims to give you insane amounts of returns for putting your crypto in their liquidity pool, the project is likely to be a fraud. Unrealistic profits promises should be a red flag and you should never put your money in such projects.