One should get used to the fact that the crypto world is full of scams. After the popularity of cryptocurrency, a lot of scammers got attracted to it. They found new ways to fraud with people and make them broke in just a couple of minutes. In the digital world of Blockchain, scammers are also everywhere, in every field of life. You can encounter fraud at any point in life if you do not remain careful.
Let’s get back to the end. Here are the four biggest scams that you may face in the world of cryptocurrency;
1. Scam Emails
Fake traders usually send emails with links that are full of viruses or any other malicious software. Even a single click can cause profound money loss. So do not open such links or emails. Before applying to any offer related to investment or ICOs, verify the email, contact the sender by asking relevant questions and wait for their response. Observe are able to satisfy you or not.
2. Social Updates
Newbie looters usually use social media sites to scam others as people are easily deceived here. They originate fake updates of different cryptocurrencies. You may think it trustable if there is a massive audience on their posts, which is not good.
3. Viruses and Malware
Sometimes hackers bring back the old way of approaching something illegally that is through viruses and malware. They try to access the crypto wallet by sending a virus to the trader by any means. As you know crypto wallet has all the mined cryptocurrency. It is a store of hard work. So its security cannot be compromised on any condition.
4. Imposter Websites
These are the fake websites that scammers create to deceive you. They represent the interface of any famous cryptocurrency website in front of you that is actual, not real. Before proceeding on any Blockchain website, check the lock icon on the bar and HTTPS in the site link address. If these two are missing, do not use the website.
As a writer, Johnny is an advocate of blockchain technology and cryptocurrency in general. He writes about all things from cryptography to economics, with a focus on how it applies to cryptocurrencies. He is also passionate about writing about topics such as decentralization, open-sourced software development, and copyright law.