We will be talking about popular scam methods and how to recognize the and also protect ourselves. In the world of internet scam is all over it. Thousands of people get scammed on internet every. Let’s see how we can recognize a scam.
Types of Crypto scams
Malware Downloads
Some websites promise to give free coins to user if they download and app which is obviously a malware app, while some asks to fill fake bitcoin survey. All of this is nothing but an attempt to issue malware to your device. Be alert when meeting such websites or URL.
Bitcoin Phishing Impersonators
Phishing is basically getting a user to enter their personal info on a malicious site. Phishing websites ask to enter private key, once they key is phished, it gives scammers access to your wallet address- leaving your bitcoin assets vulnerable.
Bitcoin Flipping Scams
This type of scams ask a user to pay a start-up fee in exchange for money or to double their investment, However, their end of the bargain is never held up and you end up losing bitcoin immediately.
Bitcoin Pyramid Schemes
This scam is a low initial investment that is multiplied by signing up other members. When a large group of members joins up the scheme, the scammers walk away with investment and the pyramid collapse.
How to protect yourself?
Do not trust anyone that claims to provide you with bitcoins overnight.
Avoid URLs that advertise Bitcoin offers on social media.
Be over-cautions when dealing with social media accounts of legitimate Bitcoin brokers or platforms.
Do not engage in financial transactions via direct message on social websites.
Do not leak out anything that cause you a loss later on, Such as private key.
Hope this article will be helpful for you. If you like this article give it an up-vote. Sponsor some $ . Write you feedback in comment section.
Scammers everywhere 🙆