Cryptocurrency SCAMS & Some Useful TIPS to Avoid Them
Once you begin dealing with cryptocurrency, you are attracted to its risky transactions. You can find scams everywhere online, even on cryptocurrency exchanges.
Cryptocurrency scams are a form of investment fraud that involves criminals taking advantage of people looking to invest in the new world of digital currencies.
Revenue from crypto scams spike 81% to a near-record $7.7 billion in 2021, A report says.
How to avoid common cryptocurrency Scams?
1. Misleading Ads If doing something online in wallets or Apps, focus on transactions rather Ads hovering beside.
2. Checking Crypto Wallets If doing any transactions online, always try to copy/paste or revalidate the Crypto wallet address before proceeding transactions.
3. Validate URLs Always double-check the URLs provided or clicking for any transaction or asking any Crypto account related details.
4. Go through Reviews Always Check the Reviews related to any App that you are selecting for Trading Cryptos and check low reviews to see user experience.
5. Try with Small Transactions Always Try to have small transactions for test purpose before having the required long transactions. Validate it and move forward.
6. Any Fee not attached? IF there is no fee attached with using or accessing any app, most probably it is suspicious. because trusted services always charges some broker fee.
7. Operating System (OS) Update Always to have the latest Phone/Desktop OS update and latest update installed for App using for Crypto Trading .
To read How to Prevent and report Cryptocurrency Scams