How to avoid getting scammed in cryptocurrency

How do you avoid getting scammed in cryptocurrency? Scammers are omnipresent, taking advantage of people’s ignorance and misinformation, thanks to the increasing demand for crypto assets.

A lot of investors are losing money on daily basis with no one to cry to especially beginners. If you are interested in learning How to avoid getting scammed in cryptocurrency

Then you are right welcome.

The cryptocurrency market is booming, with a large number of new coins being introduced into the market every day.

While this has increased the popularity of cryptocurrency among investors, it also means that there are more opportunities for scammers to take advantage of unsuspecting people who are new to this space.

Here is what to know to avoid getting scammed in cryptocurrency

How to avoid getting scammed in cryptocurrency

One of the very first steps to take to avoid getting scammed in cryptocurrency is to TRUST No Stranger.

1. Do not trust any stranger

Hey, if you must last in the crypto space without getting done dirty by these scammers, you must never trust any stranger, especially one who message you first on different social platforms without you asking for their help.

Yeah, they appear friendly and sound like they are coming to make life easier for you, RED FLAG.

Run!

With so much fraud out there, when it comes to investing, people will often tell you that trust is not an issue.

The only problem is that they are wrong and it is a HUGE issue. So you have to trust No one.

2. Limit how you engage Strangers in the crypto space

This is one of the easiest ways to avoid getting scammed in cryptocurrency, Unfortunately, there are plenty of scammers out there for people to fall for. Even though you can easily spot them if you know what to look for, most people don’t.

They go on to engage them, engagement opens space for a scam.

You know you only get scammed when you engage them right? So, limit how you engage strangers online so you don’t open space for scammers.

Since it’s hard to differentiate between the good and the bad, it’s best to assume anyone can be bad and wait for the good to show itself.

If you want to be successful in this space, you have to always be on your toes.

3. Avoid joining any group/channel that comes your way unless you know/trust their objective

If you want to avoid getting scammed in cryptocurrency, do not join any stranger group/channel you are not aware of their mission.

It’s quite common that some strangers intentionally create a group or a channel to scam some people. Here is an example of a scammer group.

Scammers will pretend to be your friend and for you to gain their trust, they may invite you into a private chatroom, but their intentions are not good.

They will try to get you involved in their scheme and push you to buy the wrong coins or tokens.

4. Be aware of strange Emails

Say you were contacted via email by someone you don’t know. They need your help because they are stuck in a foreign country and need you to send them money, but it’s urgent and you’ll get it back, plus some extra profit. Sound familiar? If it does, then you were almost scammed by a classic scammer.

The fraudsters may claim to be a refugee, a missionary or an orphan. They will tell you that their parents are dead and their uncle has died too, do not listen.

They understand what sympathy can make one do, they want to strike on it, you will be amazed. Do not fall for that, they are mostly scammers.

5. Do not send your asset to someone to DOUBLE for you. Not possible!

Scammers appear in different forms, that is proven, you will be greedy to fall for some form of scam.

The easiest to detect are the ones that promise to DOUBLE assets, NEVER transfer your assets to anyone, company or website on the claim that they will DOUBLE it for you in whatever time frame.

Such don’t exist in cryptocurrency.

6. Never give anyone your password or pin

Dear Friend, if you want to maintain your presence in the crypto space, you have to listen carefully.

If you want to avoid getting scammed in cryptocurrency easily, Never give your password/pin or seed codes to ANYONE.

As a cryptocurrency user, you should be very careful about the safety of your funds. You never know who is going to try to get access to your account.

Research shows that 40% of crypto investors have already fallen prey to scammers who successfully stole their coins by deceiving them into giving up their login details.

Don’t wait to be a victim before you learn. Lock your devices and never share the passcode.

This is the most important rule of all. If you give someone access to your crypto password, you have given them the ability to steal all of your coins.

Even if you trust the person completely, even if they work for one of the exchanges, there’s no guarantee that this person won’t be hacked in some way or otherwise compromise your password.

If anyone gives you their crypto password, it means that they are a thief and you should report them to the authorities immediately.

Also, Read.

Crypto Vs Shares, Which is a Better Investment Option

How does cryptocurrency trading work

10 Frequently Asked Questions About Cryptocurrencies

5 things to Know before Starting Crypto Trading

5 Common Misconceptions People Have About Cryptocurrencies

How to Make Smart Trades and Minimize Losses in Crypto trading

How to know if a Cryptocurrency is Viable [6 Proven ways]

5 Pitfalls every New Crypto Trader Should Avoid

How to Find New Cryptocurrency Projects that will be Viable

How To Identify Fake Cryptocurrency Using Coingecko

Wrapping How to avoid getting scammed in cryptocurrency

The best way to secure your cryptocurrency and avoid getting scammed is to never allow anyone accesses to your crypto password or pin.

Scammers come in different forms, some scammers can pose as buyers of your products or other services.

They will send you a message asking if you have any products to sell, and if so, they want to make the purchase right away in Bitcoin.

The scammer will then ask you to send them the coins first. This is a big red flag. Never send a coin to someone who asks you for it first.

People are not going to be eager to buy your goods or services with Bitcoin if you don’t have a reputation for selling any goods at all.

You should also be watchful of other forms of cryptocurrency scams like people claiming to be creators of different coins.

Avoid joining any group/channel that comes your way unless you know/trust their objective, or you have interacted with the admins of such groups or channels through other means before joining them.

Limit how you engage Strangers in the crypto space, if you don’t allow them close, they are unlikely to scam you.

Scammers need your attention to scam you, starve them of attention. We hope for the best for you.

Good luck!

 

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