Common Crypto Scams and how to avoid them
Introduction
We live in a world in which the second take of your mind on a particular subject or you play illiteracy, you are taken advantage of totally without mercy.
Cryptocurrencies being one of the newest digital currencies which it’s first currency came around 2009 has been one of the most used tools to scam the public. Experts in this field, take into advantage the knowledge they have grab from studying the markets to scam many individual since more than 70% of the world’s population still don’t understand everything about crypto currencies and some thinking the idea is a scam as well.
I will then use this opportunity to point out some related crypto scams and how we can avoid them especially as beginners in this race.
Common Crypto Scams
One of the easiest ways scammers target individuals is showing them crypto investments platforms with high yield profits. We see most of this platforms we are introduced to give 100%, 50%, and 25% returns every 24hours. Some go as far as giving 25% return to referrals bonus. This platforms often work for 1 to 5 days in such a way that the platform must have increased due to number of referrals.
I will show some example of this platforms which are :
And many others. These platforms mentioned above act as investments platforms giving up to 100% returns but they actually worked for 1 to 3 days and went away with most of the deposits of the clients. The deposit was taken as trons, doge, bitcoin, Ethereum and many others
Another great way we get scammed in the world of crypto is through the creation of phishing links. This is a common practice in most platforms with the Steemit platform inclusive. On thé Steemit platform, we mostly see this phishing links telling us to claim free 50 Steem, 100 Steem, 500steem etc. And when you follow the link they try to get access to your private keys which it’s used further to empty your account.
Another example of crypto scams is the loader up scam. This scam involves calling individuals acting like customer care for a particular platform then ask your personal credentials seeking to help you in a particular way.
Normally, most platforms will tell We will never text or call you first This means that you should be careful once you receive a call posing a problem to you and proposing a solution seeking your keys to help you.
One of the most famous types of crypto scams now are the extortion scams. This type of scams seeks the involve to pay some certain amount of crypto to a wallet which most often are decentralized wallets because it can not be tract else they will release some informations about you.
Ways to avoid this crypto scams
Never share your private keys or phrase with anyone and make sure you back them up offline as well.
It is advisable not to share personal informations such as passwords and logins with people who call you pretending to be customer care services.
Also, an interesting security to avoid being phished is to use two factor authentication when deposit and withdrawing from various platforms such as exchanges and wallets.
Report cases of scams and other criminal acts to the customers care platform to banned them so they won’t continue with their acts.
Conclusion
In this said scenarios we find our self in, it is particularly important to be careful and seek more knowledge before engaging . The highest cause of scams victims is because most people have a lot ego for money and want to make a lot of money in a short while without hardwork and they also don’t want to study deep. In this regards I advice y’all to study hard.
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Noticias
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