How to Avoid Bitcoin Scams



How to Avoid Bitcoin Scams

Although the familiarity with the new digital monetary mechanisms known as cryptocurrency. We’re not discussing the volatility of the market. Scams are everywhere online, and cryptocurrency exchanges are parts. Consider your investment in different startups and exchange platforms, be aware of the possibilities of scams against your cryptocurrency Investments.

Whenever you look a detailed view into digital cryptocurrency companies and startups, experts usually recommend that you should have to realize that you are blockchain-powered, which means they track transaction data. Investigate that they have feasible business plans which solve problems. If the startup you are investigating lacks some of these points, think through your decision making the policy more carefully. Here consider the Top 05 Scams and ways to avoid becoming a victim, listed by assignments experts because you join the exciting future of cryptocurrency.

Phishing

The first scam on the crypto is one that you may well be familiar with already, as it’s also been widely used to target customers from major banks are known as phishing. This email backlink to a site that looks almost identical to the exchange or wallet you usually use but is actually a scam site.

Once you enter your account details, the scammers have everything they need to log in to your real account and steal your funds.

How to avoid phishing scams:

  • Always double-check URLs to make confirmation that you’re visiting the genuine website.
  • Don’t click on suspicious links that are emailed to your mailing address.
  • Never disclose your private key.
  • Fake exchanges and wallets.
  • Keep an eye out for fake Bitcoin exchanges. They might communicate like a reputable exchange, but they’re extremely a front to separate consumers from their hard-earned cash.

How to avoid fake exchange wallet scams

  • Stick with well-known and popular exchanges.
  • Deep research any exchange or wallet before creating an account.
  • Don’t let yourself be pressured into depositing funds or providing any personal information.
  • Don’t just randomly pick a wallet from any App store.

Old-School Scams

Crypto might be based on new technology, but there are still plenty of scammers using old tricks with unaware consumers.

How to avoid old-school scams:

  • Use your common sense.
  • Don’t trust unsolicited emails or phone calls.

Bitcoin Blackmail Scams

Similar to how scammers will sometimes pretend to represent the tax office in the hope of criticizers victims out of money, they’ll also pretend to be hackers with some kind of incriminating evidence.

How to avoid Bitcoin blackmail scams

  • Search online to see scams.
  • Don’t believe the scammers.
  • Consider using VPNs to browse more privately.

Impersonation giveaway scams

The scam that’s common to many large sites and social media platforms is a celebrity impersonation giveaway scam.

How to avoid impersonation giveaway scams

  • Assume that anytime a celebrity is offering to give away free cryptocurrency on social media, it’s a scam.
  • Double check the user name of the suspected scam account, and compare that to the accounts real username of the celebrities.
  • Check the provided cryptocurrency address using a block-chain explorer.

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