Hi fellow Steemians!
I bring a bad news, but one that certainly needs addressing.
Last year, Australians lost at least $2.1 million to cryptocurrency-based scams, including paying ransoms in virtual coins or being lured to invest in fake ICOs.
The figure is $800,000 more than first expected.
While this story is about Australia, everyone around the world trading and investing cryptocurrency should always be vigilant when doing it so you won't be a victim of the scams.
Keep in mind, the figures may be inflated due to the sudden surge in popularity of cryptocurrency late last year.
Nonetheless, this is why I say while people should be given the freedom to trade and invest crypto, there needs to be regulations that protect consumers from such scams.
For all of you out there, my suggestions to not get scammed are as follows:
- Always do your research before jumping on an ICO.
- If unsure, invest in well-known coins.
- Never keep your eggs in one basket.
- Don't save your password online. Keep it separately on another computer / paper / etc.
- If possible, try and use a separate computer for trading / investing. You may be targeted with ransomware and could not only lose your investment, but all your other files and data as well.
Do you have any other suggestions? Please share so everyone can stay safer out there.
Source: IT News
Image source: Ethereum World News
