3 Ways to Avoid Crypto Scams

[Suba]

The increasing popularity of cryptocurrencies is often exploited by fraudsters, both online and offline, Ponzi schemes have entered corporate offices, bitcoin investments that provide fantastic profits. Here are some tips to be able to avoid crypto investment scams.
1. Initially Paying
Crypto investment scams initially pay using a bonus scheme, and a referral system. so that it will attract people's attention to invest. be wary of promises of great profit. So basically never invest in something you have never been with or understand, investigate if the company is legal.
2. Never Share Passwords!
Many scams direct users to provide Bitcoin addresses to addresses directed by fraudsters, such as Coinbase, and scammers will ask for personal information such as Onte time passwords, because there is really no site that can verify your login on Coinbase.
3. Guarantee
In general, fraudsters always promise that your cryptocurrency is guaranteed to be safe and high profits. Withdrawals can be made at any time, but once you make a crypto deposit it will be difficult to withdraw.

 

[minenovo]

I've been scammed in the past because I was both ignorant and naive. This is very good advice to help people avoid being that position, which I know from personal experience is awful.

 

[Mika]

The only way to avoid crypto investment scams is to never invest on any platform where you are required to deposit crypto so that you can receive compounding profits. Never invest on any platform where you have to invest crypto and are offered a fixed return. Never be greedy believing that you can actually double your crypto in 30 days. Instead of using an investment platform, you can use your crypto to earn profits from centralized exchanges. For instance, if you have cryptos and if you use Binance, you can use staking or yield farming to earn profits. Since Binance is a legit platform, you will receive guaranteed profits. For instance, if you have shib tokens, you can stake stake shib on Binance and you will receive 10 percent APY for the locking period of 120 days. If you are using Coinbase, you can stake ETH 2.0 and earn 5 percent yearly interest. Exodus also offers to stake. YOu can stake ADA and a couple of other currencies on Exodus. These platforms are better than investment plans because your principal return is guaranteed, staking rewards are also guaranteed. I don't see a need to use a platform like Hyperfund and the likes.

 

[maidnagi]

Scamming emails are a major reason why traders fall for scams in the crypto market. Traders need to be careful while reacting to an email even if it looks like it has come from a legitimate source.

 

[Abigael]

Cryptocurrency scams have been on a high increase for sure. There are so many scammers out there who would want to exploit people's interest in cryptocurrencies. These scammers understand that people yearn for fast and easy income and so that is exactly what they will promise you. And there are so many people who will fall for them.

There are so many cryptocurrency investment sites that operate as ponzi schemes. That is, they will pay only the first few investors and run away with the rest of the money. Most people don't realize this at first but after a few times of being scammed, you learn that that is just how they operate.

It is important that you keep off sites whose promises look too good to be true. Sites that promise to double or triple your income are just so suspicious. You should ask yourself where they will get such a high amount to triple everyone's money and that just tells you how unrealistic the promise is.

Then do your best to really research about a site or investment method before you invest your money in them. If you are keen to read people's reviews about cryptocurrencies, you will know that they are mostly scams and so you will steer clear from them.

 

[blockrat]

Even in the gamefi environment, scams are prevalent when IDOs and NFTs are being sold. To be safe, we should always check to see if the information we're getting is coming from a reputable source and not a clone of another site.

 

[saoussen5765]

I just want to add some types of crypto scams that I often encounter, including don't click on links in emails, possible phishing, don't trust double Bitcoin sites, avoid crypto investments with promises of big profits, especially on social media.

 

[Suba]

Thanks @saoussen5765, you have completed my thread. Many crypto users are trapped by phishing, so basically don't believe in making big profits easily.

 

[brives887]

thx for the advice , very helpful. i am so worry to in crypto