Cryptocurrency is a digital money which simply means there is no physical coin or bill. A lot of investors are already investing big in Crypto such as Bitcoin, Ethereum, Litecoin, Cardano, Polkadot, Dogecoin etc.
To make it big in Cryptocurrency investment, you need to have good experience else, you will end up loosing your money. Bitcoin is the future, investing in it now is the wisest thing to do now especially during this current rise.
Someone who is new into Bitcoin and other Cryptocurrencies need proper guidelines especially from a professional trader in order not loose his / her startup. You need to mindful when you invest because there are fake Cryptocurrency traders who target newbies.
In this article, we will discuss the most common Cryptocurrency scams you should know and how to avoid or report them.
I will also highlight some of the reliable and trusted Crypto platforms you can Buy, Save, Send or Trade different types of Cryptocurrencies.
In addition, those who lives in a region / country will require VPN to access or use some of the platforms.
The purpose of this post is to notify you about Bitcoin and other Crypto currency frauds / scams.
Top 3 Cryptocurrency Scams 2021
1. Cloned / Imposter Website: You may be following good tips from someone with good experience in trading and still end up loosing your money. There are a lot of fake and unlicensed website and platform you need to be aware of.
Some are designed to look exactly like a brand with a good reputation or like other common platforms such as Coinbase, Binance, Blockchain etc. While making your choice, you need to take some time to review before you buy any crypto or invest with any platform.
2. Fake Apps: Scammers also target their victims through fake Apps available on Playstore and Appstore. But the good thing is that those apps doesn’t last long because they get blocked once Google Play Store or App Store dictate them.
I recommend you always visit the official Google Playstore and Appstore when downloading important apps. This is because most apps available on other websites may are not genuine. While this is a greater risk for Android users, every investor should be aware of the possibility. Furthermore, there obvious misspelling in the copy or even the name of the app.
4. Scamming Emails: Sometimes they target their potential victims by sending bad emails and links. Even if it looks like an email you received from a real Cryptocurrency company, take care before investing your digital currency. Email marketing is often used by Companies to advertise their products. But you should ask yourself these questions. Is the email the exact same and are logo and branding identical? Can you also verify if the email address is legitimately connected to the real company?.
Furthermore, we will show you how to dictate fake Bitcoin and other Cryptocurrency scammers. You won’t loose your money after reading this.
How to Identify Cryptocurrency and ICO Scams
Below are trending platforms scammers are presently using.
- Facebook groups
- Telegram Channels
- WhatsApp Groups
- YouTube Comment section
- Comment section of all many social media platforms
- Someone pretending to a be a professional broker, trader, investor etc.
How to Invest?
You can register with supported Cryptocurrency company in your country. Some platforms allow you to buy, sell, trade, save and swap your digital currency (coin).
We hope this detailed post is helpful to you.
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