If you think the crypto world doesn’t have its scammers, you will wake up one morning only to find out how ignorance has sent you into the terrible seasons of life. Scammers just like technology improve with their strategies and tricks; they grow in equipment and knowledge to ensure they can penetrate any system and rip you off your goodwill.
Without forgetting record in case you are not aware, $14 billion worth of crypto was stolen in 2021, a record released by blockchain data firm Chainalysis
Here are the common cryptocurrency Investments scams you should know about:
1. Getting involved with fake apps:
Getting the right app is important for an investor. Beware of downloading any app you come across on the google play store or Apple App store. Ensure you think and verify any app before inputting your credentials. Though the play store and Apple App store are common to remove any apps that are found to have an inch of unwanted details or signals, most times scammers have gotten through some people before the apps are taken down away from people’s sight.
You would be surprised that over 10,000 have submitted their credentials on a fake app. aside from crypto apps; you also must have fallen prey to one fake app or the other while trying to find the perfect one. Read More Here
I would suggest you ask people and check reviews before downloading any app.
2. Celebrity Endorsement that is fake:
You shouldn’t fall for a new trend because a celebrity is involved, crypto scammers can also pay a celebrity to help get things done, they can go the extra mile of getting good website interphase, good influencers with creative video ads, nice sales pitches just to get you aroused by the sumptuous features. Before jumping on any deal, take your time to verify, good deals will last longer. Time is the revealer of truth. Give things time before jumping on any offer, regardless of who is marketing it or not. You snooze, you lose.
3. Juicy offers:
There are many fake accounts with scammers posing themselves as crypto loads or gurus in investing or giants of the market space. Ensure you don’t get too vulnerable to these social accounts. These accounts can be spam. Have you gotten random messages from random people that staying there is a lifetime deal you should jump on? Any investments deal that requires you to drop your credentials, or comes to you from a random social media account should be vetted before you get into it.
Stop chasing free money!!!!
Stop chasing this one-of-a-time opportunity!!!
You are quick to get scammed if you do this. I’ll suggest you deal with people you know about.
Protective Measures against Cryptocurrency Scams
1. Never share your wallet details:
Trust no one, including me, give me a knuckle if I request your wallet details. When you get your crypto account ready, you will get private keys for your wallet that is personal, for you alone to access. Ensure you keep it safe, maybe in a closed room with multiple codes to convince whoever wants to steal it or any way you deem fit, just ensure the details are kept safe.
2. Don’t be too in a haste:
Assuming you are not so sure of a crypto app and you haven’t done any deals on it before and you plan on running a big capital into it, I will suggest you get only a small amount you can endure losing to test the legitimacy of the app or the firm. Don’t go all out if you don’t want to be scammed.
3. Celebrity or not, ensure you take your time:
Regardless of who is used on the banner for the advert, ensure you do a thorough research of the firm, its lifespan, its reviews, and previous customers. This is your money, which cares how long it takes to verify advert legitimacy before jumping into it.
If you fall, victim, what should you do?
In case you made a payment using your debit or credit card, you can have your card blocked by reaching out to your bank customer service to get it done Asap.
In case it is a fraud from social media, ensure you have it reported, tag it a scam, and post it around so others don’t fall victim.
Conclusion
This is your hard-earned funds; don’t let anyone strip you of it. Ensure you are careful with what ads you click, which app you submit your credentials too, to who you make your payments to, and to what sources you get your information from