Tips to Spot and Avoid Cryptocurrency Scams, cryptocurrency scams, scams, fraud, crime, online security, cybersecurity

4 Tips to Spot and Avoid Cryptocurrency Scams

Last Updated on January 5, 2022

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How to Spot and Avoid Cryptocurrency Scams

Guest Post By: Patrick Watt

The world has become digital, and we have no option but to move our finances into the digital age. Cryptocurrency is one of the main ways that international businesses can operate and thrive. On the other hand, if people misuse financial resources and extortion is involved, it will lead to embarrassment and anguish. In this article, we will tell you some of the ways that you can use to identify a cryptocurrency scam reliably. If you use them wisely, you will save yourself a lot of distress.

1. Training Programs

Cryptocurrency scams can cause depression. Therefore, preventing them should be your priority. Knowledge is power, and educating yourself on the best practices of your cryptocurrency venture should be the top priority. Various training programs will assist you in this endeavour. A training program like The Plan by Dan Hollings is among the beneficial schemes. The program includes vital information about how you can invest in cryptocurrency. Therefore, the resources will help you in pointing out fake scams.

2. A Phony Website

A fake website has various red flags that you can identify even before you open a link. Most fake websites aim to copy familiar platforms so that they can be confused with them.

However, you can identify an authentic website by checking if they have HTTPS in the URL bar. In addition, the bar should also indicate a small padlock sign that shows security. If it does not have them, then you should not think of opening.

Hackers have now upgraded to the extent that they can redirect your clients to a phony page even after clicking on the genuine one. For instance, hackers might alter a link and change some figures on an additional link.

The redirection will contain the phishing page that will ask for money or additional information that hackers use to con you. To prevent this from happening, make sure that you have typed the exact cryptocurrency page that you desire to invest in or research.

3. Phony Mobile Apps

Most mobile apps are available through the Apple App Store and Google Play. Therefore, scammers have also found a way of enlisting their apps in those stores to be more credible. However, the platforms identify them and remove them. Before this, there are chances that some people might have unknowingly downloaded them already.

Some ways to identify them are by checking for minor details. These include the spellings, the branding, and the information provided about them. There should also be real entrepreneurs behind the formation of the apps and websites. Never compromise the safety of your cryptocurrency venture. If you spot these fake red flags, discontinue from reading the information or downloading the app.

4. Scam Emails

Most people have received spam emails. Additionally, the information might be scanty and sound fake. Credible emails must come from genuine sources. However, verification of the email will provide you with information about the company or individual.

Conclusion

With these few points, you can be sure that no one can dupe you into investing in fabricated cryptocurrency ventures. Also, remember to research before you invest in any financial project.

Image provided by Patrick Watt.


About the Author

Patrick Watt

patrick watt, How to Spot and Avoid Cryptocurrency Scams

Patrick Watt is a content writer, writing in several areas, primarily in business growth, value creation, M&A, and finance. Other interests also include content marketing and self-development.

Say hi to Patrick on Twitter @patrickwattpat.


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