Stay Safe from Crypto Scams

The crypto market is growing and since things are related to the monetary and funds like many other sectors this place has also got some scammers around. The scam is never a good experience for anyone and I hope no scams are happening in this market but unfortunately truth is completely different. Many hackers and scammers are trying to cheat people and steal their hard-earned money through their tactics. We need to safeguard our funds from the hackers as well as from the scammers.

Manny's cameras try to reach out to us through Telegram or many other platforms sharing some lucrative schemes. They often offer something which is not practical like 10% or 20% returns in a day. Please don't believe in such scams and you know that offering this many returns in a day is not possible and it is an alarm that something is not right.

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The other situation where more people are getting scammed is P2P. It's called peer-to-peer where two individuals can transact for buy or sell transactions directly or through some exchange. This service is very useful but the problem is you dont know what other people have decided to do with you. Sometimes even after a successful transaction, the bank accounts are reported to cyber sells. For example, if you perform a transaction through peer-to-peer on any exchange and you sell some of your crypto. You get fiat currency in return but the buyer who has paid you reports the case to the government or cyber cell that returns in the bank account freeze.

This type of scam is happening a lot in India and it will not be a surprise if the same situation is applicable in other countries. So what should be done in this case is the biggest question? The answer is that we should not deal with anyone who is not verified and preferably if you are using the exchange for peer-to-peer transactions then do not deal with someone offering a higher amount. It is recommended to deal with merchants because in most of the cases exchange keeps some security deposit from those merchants and you can rely on them. Exchnage like Binance has created a nice infrastructure but still, some cheaters are there.

In simple words, I can say that when something is offering you a better price than the market then it is a red flag and it can be enough form of peer-to-peer as well as through Telegram or tutor. Never go for something that is not realistic because it can turn out to be a situation when you lose your money or maybe you have to deal with some problematic situation. It's our crypto and it's our money so it is our responsibility to keep it safe and avoid interacting with anyone or any protocol which is not reliable at all.

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