HOW TO KNOW SCAM CRYPTOCURRENCY

It is really amazing how easily people can be deceived into putting their money on a cryptocurrency that is totally a scam.

The truth is that there are real and legit crypto where You can become a invest your money and earn profit.

   Now there are completely scam cryptocurrency. Total fake. It is heartbreaking to see that people easily fall prey to the cryptocurrency. Maybe because they are attractive and full of empty promises. So sad.

But is time to wake up and act safe, and I think that's what you're doing by reading this article. So let's dive in. 

Below are listed strategies on how to fish out scammers and their scam cryptocurrrency.  

                

Cryptocurrency Legit or Scam and How to Spot Them. 

*Look for the project website and white paper - this is the best way to ensure that the cryptocurrency you are investing in is legit. 

Each token publishes a whitepaper that explains all the fundamentals and underlying technologies involved in designing the blockchain to support that token. 

* Transparent Creators: It is important to know as much as possible about the owner. Enough information should be available about them on social media. It is risky if the creators are anonymous.

* Impostors: Investors are also known to trust the opinions of prominent figures. Scammers often create fake videos featuring such prominent faces and mislead investors.

Investors should trace information back to the source to verify its credibility. Do not invest if there is any sign of impostors.

* Promise of high returns in a short time: every investor should keep in mind that any investment takes time to grow in value.

There are volatile cryptocurrencies that exhibit extreme price swings. Scammers use these features to their advantage and promise surreal returns in a short time. Beware of signs like this, it's scammers' to trap.

* keep an eye on URLs: Most fraud cases involve dangerous website that does not appear in the address bar next to the website, it is not safe to be on this site.

Also check if the URL uses 'HTTP' and not 'HTTP' as the latter is a fake site URL, for example, may use the letter "O" and the number "0" interchangeably because the difference is hard to spot. Vigilance is the key to avoiding getting scammed.

*p2p transaction: there are a number of warning signs that you should never ignore. in fact, the presence of any of the following means you should proceed with extreme caution (or abandon your interest altogether).

 these include a lack of white paper (or a brief on the details), limited details if any, of the actual team members and their respective backgrounds and qualifications, embellished or unsubstantiated assertions (often supplemented by a hint of FOMO or "fear of getting lost"), an unrealistic balance sheet structure, unrealistic expected returns and a general lack of feasibility.

Phishing: the cryptosystem space is swimming in phishing scams (see what we did there) and below we take a look at some of the most popular. false. 

   * fake trades: there is more to the phishing scam, some trends in the fraudulent trade are actually fake. 

   * fake support team: by now everyone should know that confidential information already stored by traditional financial companies and from fintech or cryptocurrency platforms should never be "verified" by anyone of this company or this service, in particular by e-mail. as with cloned websites, scammers will try to make the email message official by borrowing logos, creating an email address that looks almost like the company's address, and using similar usernames. 

when in doubt, always communicate directly with the platform and verify all communications to ensure the safety of your confidential information.

How to know a scam Website

* voice or vishing (and smishing) scams: some vishing scammers will not contact you directly, but rather your company phone. after finding out your phone number and even your id number and address...all this still requires caution. 

   In the first three months of 2021 alone, they've already raised over $18 million (analysts estimate the 2020 total was in the range of $16 million), with tens of thousands falling victim to these scams every year.

   

  I hope that with these few points of mine, you will be able to understand and know a scam cryptocurrency when you meet one, and not allow scammers to get you. 

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