Just as the crypto industry is expanding and getting local adoption from individuals, co-operations, organisations and few countries the same rate at which we have crypto enthusiast increasing in number which i see so worrisome and also a call for major concern.
Reason been that as more people get involved in the crypto business the more scammers are likely to increase their technique and the more scammers get recruited.
To avoid walking on scammers path, requires to be well informed of every new technique they can ever deploy against their potential victim.
To stay off scammers path users must:
- Avoid phishing links.
- Make sure to pay attention to the spelling of the website, as well as their URL as this can reveal whether it is a phishing site or not.
- Never invest in a project without a well structured community
- Pay close attention to the engagement within the community for suspicious activities
- Ensure you assets are off CEX
- Be more smart and less greedy
- Don’t jump into a project/coin only based on the hype from advertisers (especially twitter)
- Avoid any “too good to be true” investment
- Avoid send me 1$ and I’ll send back 2$ scams, no matter how reputable is the account calling for that
- Protect your coins (keep your coins on your wallet, use hardware wallet where possible, never give out wallet’s seed, keep backup seed offline)
- Don’t be greedy and/or illiterate.
- Be sure to feed yourself with necessary knowledge, if you want to invest.
- Knowledge from experience is good but you can also take legitimate one from other people.
- Not everything that is being offered to you is true. Do not be deceived.
- Be careful who you are trusting.
- Always be skeptical !!!
- Enable Two-factor authentication for all your accounts.
- Using of firewalls.
- Installing an up to date anti virus software.
- Use strong passwords and yet easily accessible ones for your convenience.
- Stay away from malicious links or attachments you come across on the web.
- Make sure your private keys are well stored and in hard wallet
- Make sure your passwords are not vulnerable online to attacks i.e don’t store passwords online or any website
- Whenever a stranger message you first for a business or an investment, it is a Red flag.
- Someone who doesn’t know you would want you to make big money, another Red flag.
- Whenever they introduce a” business opportunity” to you and then hasten you in order make you take a hasty decision it’s not genuine, they are trying their best to make you take a fast decision without telling your loved ones and friends who will discourage you.
- It is safer to assume anyone you don’t know, communicating with you is a scammer until it is proven otherwise.
- Read the whitepaper and research well of the company where you are going to invest because many scams are done by this method.
- Check whether it is genuine or fake.
- Scammers are constantly upgrading their scam methods and anyone can be the next target.
- Loss doesn’t just happen due to an internal or intentional mistake, and when it does happen everyone has a similar sense of remorse and risks that are absolute consequences.
- You’ll be fooled many times by those scammers that have maintained a well structured fake community.
- They can hire those PRs and people talking inside their community to make it look like they’re a legit community.
- As for their workers, they’ll just tell that they need engagement but the purpose of it, they’re not talking about it because that’s what the main purpose it.
- And that’s to make it look genuine that they have real people inside the community. But in reality, it’s all fake people that they’ve hired just to make discussions all over their place.
- It’s safe to say as well that it’s not just the crypto industry that is not safe for newbies, everything that talks about money is not safe for everyone.
- Crypto is the latest thing and in the last 5 years it become so successful that scammers make this as their paradise as there are a lot of naive investors in the market.
- Do your investigations, and don’t listen to influencers and believe them.
- Think that this is your hard earn money so you need to be careful where you are going to invest it.
- Don’t be Greedy.
- Don’t jump on it like a hungry cow.
- Don’t trust the sweet words they offer you. Most of them are too good to be true but they will always sound inviting to invest with.
- Make a wall to not fully support them unless they have proven themselves worthy of that kind of respect.
- Always be in doubt. That will be the shield that will protect you from being scammed.
- Must simply assume that our coins are never really safe despite our best efforts, so it is important to always be on alert and protect our coins to the best of our ability.
- Improve the security of your coins by an important margin by buying a hardware wallet, since they are very secure devices and they are relatively cheap, instead of risking storing our coins in our computers or at an exchange.
- Always good to know how to make technical and fundamental analysis so that you can get specific information what is the situation of the projects you want to invest
- Many projects are delivering a good testament, but they always ended into a scam , so we need to be smart enough and have a lot of preparation before investing or trading
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