Once you start using the new digital monetary mechanisms known as cryptocurrencies, you realize that such transactions and transactions involve risk. We're not talking about the unpredictability of markets right now. The internet is fertile ground for scams, and cryptocurrency exchanges are no exception. When considering options for investing in various startups and currency exchange platforms, be on the lookout so as not to lose your investment in cryptocurrency.
When considering options for investing in startups and companies related to cryptocurrencies, experts recommend checking that they use blockchain technology, which ensures data tracking of all transactions. Also, make sure they have a solid business plan that provides solutions to real-world problems. Companies are required to provide data on the liquidity and IPO rules for their cryptocurrency. Real people should be behind the company. If the startup you are considering does not meet any of these criteria, then critically reconsider your decision.
These are some of the common types of cryptocurrency scams and ways to protect yourself from them.
Fake websites
Even if you follow the recommendations of an experienced person, you can fall for the scammers' trick by going to a fake website. There are a surprisingly many carbon-copy websites out there that are actually legitimate start-up sites. If, when displaying a website in the address bar of the browser, there is no lock icon and "https" is not displayed in the site address, then this should alert you.
Even if the site looks no different from the original, you may be redirected to a different platform for the payment transaction. For example, you might click on a link that looks like it leads to a legitimate website, but it turns out to be a fraudulent URL in which cybercriminals have replaced the letter with a zero. This platform, of course, will not lead you to the site of the investment that you have chosen for yourself. To avoid this danger, double-check the URLs carefully, or rather type them yourself by hand.
Fake mobile apps
Another common trick that cryptocurrency investors often fall for is fake apps hosted on Google Play and the Apple App Store. While such applications are usually quickly recognized and removed, some users may fall prey to them. Thousands of users make this mistake and download fake cryptocurrency applications.
The described risk is higher for users of the Android platform, but any investor is not insured against it. Look out for obvious typos, incl. in the application name. Be on the lookout if your brand name uses fake colors or the wrong logo. Please double-check the application and download it again from a trusted source.
Be careful with social media
If you follow celebrities or famous businessmen on social media, keep in mind that such profiles can be clones created by scammers. The same applies to cryptocurrencies - there are often malicious bots that pretend to be someone else. Do not accept offers of cryptocurrencies that you receive on social networks - there is a high probability of getting into fake accounts.
If on these platforms someone asks you to share even a small amount of cryptocurrency, do not believe it - most likely you will never get it back. If other users are responding to messages, this does not mean anything - they may also be bots. You have to be extremely careful.
Email phishing
Even if the email you received looks exactly like the one you received from a legitimate cryptocurrency company, think twice about whether the investment is worth making. Are the letters exactly the same, are the logo and brand image identical? Is the postal address legitimate, is it official? To test all this, you need real people to work in the company. If you have any doubts about the letter, contact someone who works for this company. And never follow the link in the message to get to the site.
Fraudsters often announce fake initial coin offerings - in this way, they can steal a significant amount of money from users. Be careful with the offers you receive in the mail and see on websites; study all the details carefully.
Unfortunately, there are many cases where some internet users exploit insecure computing systems to mine or steal cryptocurrencies. Before you start investing in cryptocurrencies, learn more about security and how to protect yourself in this new market.
oh some or fake