Avoid Cryptocurrency scams, before losing money

Investment in digital currencies or cryptocurrency is very popular nowadays. This is one of the best ways to earn money by securing it. The main obstacle that comes with this process is scams. As cryptocurrency is a digital currency so the scam is very common because hackers can easily get your all details and take all your money within a few seconds.

The second cause can be a lack of knowledge because sometimes we are not aware of these facts or scam news. So, to avoid this you should do lots of research before investing your money.

Now before looking out the ways to avoid these scams, let’s know what type of scams are happening nowadays in cryptocurrency.

Scams in Cryptocurrency

  • Fake websites and applications – This is the most common scam which is growing day by day in cryptocurrency. It is not easy to find the difference between real and fake websites or applications for non-tech people. These websites seem very real and genuine. These websites and applications try to convince people for more investment and when they try to withdraw their money, it shows some type of error. So, it can give you a loss of money within a second.
  • Scams on Social Media Platform – social media is another way that is very much popular for promotion and advertisement. Now, scammers have targeted this platform to take out money from people. They hack accounts of victims’ friends and send a direct message to them for investment. They also use images, videos to gain the trust of victims and take all the credentials and details of their cryptocurrency account.
  • Fake Endorsements of Celebrities – You have seen many advertisements which feature many celebrities so it is because of trust bond. When people see their favourite actor or actress promoting an investment platform then they easily get convinced. Scammers make a fake endorsement of them and take money from their fans.
  • Phishing- You must have heard about phishing which includes text messages, emails to get clicks on suspicious links. By doing so, you can provide your credentials to them with your consent. These messages are well designed to attract customers like free investment, zero charges and many more so people easily click on these links and get scammed.

Ways to avoid cryptocurrency scams-

  • Proper research can help you to avoid these scams completely. Do not start your investment with half knowledge because it is going to lose your all money.
  • Do not trust any call because it can be a scammer who is trying to take out all of your money. So, whenever you receive a call like this, try to report it or do your research before making any final decision.
  • Check for security and privacy statements on a particular platform before investing your money.
  • When you receive an email or text message of free investment or zero charges, try to avoid it completely because it is a scam. Do not click on any suspicious link which is received in your mailbox or text message.
  • Be aware of those stocks which have huge differences in their price. Only scammers can do this, so it is not any luck or offer for you.

Which is best Ethereum or Bitcoin?

Investment in digital currencies or cryptocurrency is very popular nowadays. This is one of the best ways to earn money by securing it. The main obstacle that comes with this process is scams. As cryptocurrency is a digital currency so the scam is very common because hackers can easily get your all details and take all your money within a few seconds.

How to start investing in Bitcoin without purchasing it

Investment in digital currencies or cryptocurrency is very popular nowadays. This is one of the best ways to earn money by securing it. The main obstacle that comes with this process is scams. As cryptocurrency is a digital currency so the scam is very common because hackers can easily get your all details and take all your money within a few seconds.