If you are engaged in dealing with the new digital monetary mechanisms which are considered as cryptocurrencies then you may have already realized the involvement of risk in these exchange transactions.
Now when we acknowledge the risk factor here then it doesn’t only incorporate the volatility of the cryptocurrency market but risk of scams are also advised to be recognized. As we can witness scams and cyber crimes on every online platform, digital currencies are no exception here.
So, if you are considering investing in different cryptocurrencies exchange platforms and new startups as well then we would definitely advise you to be attentive of all the possibilities which may cause losing your cryptocurrency investments unintentionally.
Here let’s take a look at the most common cryptocurrency scams and ways to protect yourself from becoming a victim of these cyber crimes when you join the exciting future of cryptocurrencies:
Yes, you heard this right. You can actually be trapped with a scamming email that may exactly look like an email which you could receive from a legitimate cryptocurrency company. So, before making an investment in this digital currency, you really need to make sure that the offer is genuine one.
Here you need to critically evaluate whether the email you received is completely identical to the original one or not. And also check are the branding and logos same? Moreover, the email address is also required to be verified that it is connected to the legitimate company or not. So, your ability to check and verify the details will absolutely help you in protecting yourself from these kinds of cryptocurrency scams. Apart from that, it becomes really important for you to choose a company that works with real investors so that you can have a protection cover against these types of scamming frauds.
Further, if in any case you find some doubts about the email you received then don’t ever hesitate to ask someone who really works there. Furthermore, don’t ever try to tap on the link on the message you received in that email after the creation of the doubt. Because these cyber criminals usually issue fake ICOs (Initial Coin Offerings) on different email accounts with the intention of stealing substantial funds.
So, don’t ever get easily attracted to these kinds of fake emails and website offers as well. And to prevent yourself from the crypto frauds and scams, make sure you are investing enough time to look over all the details. Sadly, these kinds of cyber criminals have found so many ways where they can easily exploit the internet users with insecure computing systems for stealing digital currencies very easily.
The only way to keep yourself protected and safe from these fraudulent activities is to learn more about the emerging cryptocurrency market trends as much as you can before you start investing in cryptocurrency.
Popular Social Media Updates and Wrong Tweets:
Here you might be following the popular business executives and famous celebrities as well on different social media platforms. But are you sure that you are not following any of the impostor accounts? Certainly, you are not.
The same scenario can be applied in the case of digital currencies where you are randomly going to interact with the impersonating bots and malicious content as well even without knowing the fact that they are not true.
So here we would like to recommend that don't easily make yourself rely on the offers that come from Facebook or Twitter particularly on those which appear impossible to you. On various social media channels, fake accounts can be seen everywhere. This certainly defines if there is someone asking you to give them even a small portion of your digital assets then you must strictly deny the offer because you are never going to get your cryptocurrencies back. Here if you are seeing that other people are replying to some fake tweet or wrong social media update then it absolutely doesn't prove that they are not bots. So, you really need to be extra careful here.
False Mobile Applications: The next trick which the cyber criminals are using frequently for scamming the cryptocurrency investors is by creating fake mobile applications that are easily available for downloading for the users via Apple App Store and Google Play Store as well. However in this case, usually the stakeholders easily get to know about the false mobile apps so they figure it out well and just get them removed.
But still the scammers have already impacted many bottom lines because by then so many people have already downloaded the fake cryptocurrency mobile application on their devices. Although here the risk is absolutely greater for Android mobile users, we are recommending every type of investor to be aware of these kinds of possibilities.
Here we have provided you with the most common cyber cryptocurrency practices so that you can be informed about these criminal activities and protect yourself against these kinds of frauds. So, be attentive and conscious about every single doubtful event around you and don’t easily trust every piece of information that you receive online.