Cryptocurrencies have been the talk of town since past couple of years with its share of both good and bad. Crypto market has recently been introduced in the global financial markets, and with its immense risk factor, it has proved to make many people a lot of money. But the risk and the good always comes with a price, crypto market has since beginning faced a lot of scams.
Many huge crypto investors have also been fooled by these scams which shows the expertise of the scammers and how difficult it is avoid it in financial market.
There are many scams and frauds associated with cryptocurrency that have been highlighted a lot recently. The cryptocurrency scams are basically when scammers trick the individuals to provide them with the cryptocurrency transactions and in return they steal their personal information as well as crypto account information stealing both money and personal information from the user.
Let’s look at 8 of the most common crypto currency scam so that you can avoid them if you ever cross by it:
In order to avoid such apps, one must download only the authentic and renowned apps for dealing in cryptocurrency and not give in to schemes like double coins or other similar rewards.
This situation can be avoided by ensuring you do not give your password to anyone on social media no matter how lucrative their scheme is. Also, you can download call recording app on your iPhone to ensure that all of your calls are recorded which you can later use in case of any crypto related cybercrime as evidence. There are many call recording apps available, the best phone call recorder iPhone offers is iCall. The app iCall offers free trial and later you can use it for nominal subscription fee over the year. The call recorder app will help you in keeping track of any scam calls, as you can later review your calls to find out if anyone has made fake calls to you.
The scheme can be avoided only by making informed and wise crypto investment decisions. It is essential to do complete homework before investing in any currency.
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Ensure you do through research before investing in any coin especially if it’s a new one.
Like other social media scams, one must do proper research before trusting any online entity. On YouTube, only the verified accounts with grey badge should be trusted. One must also check the content posted by that particular channel and if that channel is recent or is there since a long time. Any sort of hasty decision in crypto can cause you a lot of money.
This can be avoided by researching on every investment transaction and by ensuring that you do not fall into any trap of getting large sums of money.
This can be avoided by looking at the worth of that particular crypto coin in which you are investing and also read reviews regarding the individual or company offering such scheme.
Avoid such scams by not trusting anyone online easily and make sure to do background check before providing anyone with your personal details as well as crypto rewards.
There are many crypto scams available online which can be avoided with the help of thorough research online. You should also report such cybercrimes to authorities to ensure that scammers are captured, and phone recording through iCall, and email evidences can of great help in such cases.
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