Cryptocurrency scams have been prevailing in the market since the beginning of this blockchain technology. Be it stealing the coins or using them for illegal activities, Cryptocurrency scams have been under the spotlight many times. The major drawback is that people often confuse cryptocurrency to be a scam as a whole and do not invest in the market. Cryptocurrency is a great opportunity and with the right knowledge, you can too get it right. However, to save yourself from the brutal cryptocurrency scams, we bring to you some of the tips and tricks to avoid cryptocurrency scams.
How to avoid Cryptocurrency scams?
Fake Website check
While typing in the URL of a website or searching for a website on google, you must ensure that the URL is right or the website you are visiting is the original website. To ensure this, you can check for the https or the small lock displayed on the left side of the URL. If the lock is intact and green, it means that the website is legitimate and not a scam. If you spot tiny errors in the spellings or any grammatical errors in the passages published on the website, be sure that it is a scam.
Cryptocurrency scammers have a various tricks to scam you. One of them is creating mobile applications that look almost similar to original apps and uploading them on the app store and google play store. In such situations, you must check for reviews and the number of times a certain app has been downloaded. If it is a very famous app and this fact does not tally with the reviews and the number of times it has been downloaded, stay away from it as it can be a scam.
Fake social media posts
You might have come across one such post on social media with an irresistible offer such as a competition where you send in a bit of your crypto coin to get back double of the same. You must never trust such posts. Such posts are specifically created in bulk by scammers to lure innocent customers into the traps. The people who comment on such posts can also be fake.
If you are receiving unexpected emails from cryptocurrency companies offering you initial coin offerings at a lower rate than usual, beware! This might be a huge scam. In such situations, you must check and ensure that the email of the sender actually belongs to the company it claims is from. Apart from this, you must never tap on any link or download any documents attached with such unexpected emails.
If certain brokerage firms are asking you to deposit money through cryptocurrencies, beware! Scam brokerage firms often adopt this tactic of accepting money via cryptocurrencies due to the feature of crypto coins being untraceable. If it is a regulated brokerage firm, they will give their customers plenty of options for depositing and withdrawing money.
These are some of the ways through which you can avoid cryptocurrency scams. If you have been scammed, report it to All Scam Reports immediately and we will help you out.