Cryptocurrency trading scams

Cryptocurrency scams

Introduction to Cryptocurrency trading scams:

Living in the modern age requires you to adopt the features and lifestyle of this time period. As cryptocurrency has been an inseparable part of the modern era, naturally a huge amount of people are interested in that as well. However, the risk involved in this industry goes unnoticed by many. In this article, we will be discussing the common Cryptocurrency trading scams that happen around the world and victimize thousands of people every year. Scams are everywhere and it has become vital for people to be extremely careful and avoid them. Read the full article about Cryptocurrency trading scams to know more about them. 

Some of the common Cryptocurrency trading scams:

  1. Fake Websites

These types of scammers are the most dangerous. In such scenarios, the scammers will produce a website that is eerily similar to the ones of legitimate cryptocurrency firms and have a name with a minor difference in order to confuse the people. As soon as the customers type in the website name, this fake website pops up, and not noticing the difference, the customer gives in their details. This is the first type of scam and the most common as well. 

  1. Impersonating apps

Another very common way these scammers adopt is by creating duplicates of apps. In such situations, these criminals make a duplicate of yet another famous cryptocurrency app and upload it on the google play store and ios store. With a very minute difference in the name, it looks like the original app only and therefore many people fall victim to such a situation. 

  1. Social Media Manipulation

Yet another common method that the scammers adopt is social media. With various bots and people set up, these scammers will roll out positive tweets and reviews about their scam website. Moved by these reviews, people tend to look into it and end up investing their hard-earned money on a scam site. 

How to avoid these Cryptocurrency trading scams?

  1. While logging onto a website, one must check the URL of the website. If the URL does not contain HTTPS or the small lock on the left side, there are chances that the website is not safe, and therefore, you must avoid it. 
  2. Before directly downloading an app from the play store or the ios store, one must verify the publisher of the app and the reviews given below. IF anything about it seems suspicious, drop it immediately. 
  3. One must never be inspired by the reviews on social media pages as the people can be paid to do that. Instead, conduct your own research before investing your money in anything. 

To conclude, we can say that although Cryptocurrency trading is the new normal, a little precaution can make you reach great places. If you have been scammed by any Cryptocurrency trading scams, just fill in the form. Our experts will analyze the issue and reach out to you with the solutions that fit your case. Till then, stay safe and away from scams!

Also, read about Forex Trading Scam here.

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