How to protect yourself from cryptocurrency scams?
Admin 06-Mar-2021

How to protect yourself from cryptocurrency scams?

In the current situation, with the increase in the crypto market cryptocurrency scams are at their peak. Many scammers find it too easy to hack devices and steal information and get their job done easily. In this world of malware and hacking traders need to alert while trading and keeping their currencies secure.  

Though, cryptocurrency works on the blockchain where all the transactions have been recorded. This is the most decentralized system spread across the globe. This blockchain-based ledger gets updated with every transaction happening around the globe. These virtual currencies can be used anywhere alternative to physical currencies and are without any regulation. Due to the decentralized system, it is free from the control of any governing authority. 

Crypto scams are at the hike

With the increase in digital presence, rising awareness about cryptocurrencies, and the need for virtual currencies in the market cryptocurrency scams are touching heights day by day. Though, this increased involvement and interest of traders in cryptocurrencies opened new ways in virtual currencies but also increased the scams and scammers in the market. Cyber-crime is a great practice as everything on the internet is at a high risk of being hacked and attacked by scammers. 

Cryptocurrency is not a new thing for scammers, they got a new treasure where they can easily get a lot of benefits. As everything in cryptocurrency is online and virtual so It is obvious to be prone to cyber-crimes. So, the foremost measure to protect is to be cautious and always being alert at every step dealing and working in investments. 

It is so important to be alert and take security measures. Here are some safeguard tips: 

  • Research before Investing:

Research is very important before stepping towards any investment platform and to prepare to trade. Research regarding the platform you are having a crypto account on and its various activities. Take a charge of the footprints on the platform and its dealings. Try to connect with the people connected with the platform and search out as it will be secure to trust the platform. Undertake your research as long as you aren't satisfied. The most vital is to research as your confidential information should not be leaked online. And utmost priority should be given to the confidentiality of investor’s information. 

  • Imposters may be riskier:

First of all, you need to check whatever website or platform you are using is official. It should not be any imposter sites. There are high chances to be fooled by an imposter website by fraud promises. For the sake of high profits many fraud websites cheat and target crypto wallets. Always check the securities of the website you are using and always use trusted and known websites. Avoid unknown or new websites for the sake of varied offers and high-profit commitments. 

  • Never trust unknown Applications:

Another most common fraud trap by scammers is through the various new launches and unknown applications. This is just a trap of fraudsters by launching an application from the play store with the only purpose to tap account holdings and information. Beware of these fake applications and if you do use some do not use them for a long time. You can simply identify these applications just by small research. 

  • Avoid spams and unknown offers:

Spams lead to the biggest scams nowadays. Many fraud companies do use spam calls, messages, and E-mail in a case to trap you with beneficiary offers ad subsidiaries. Just avoid all these spam offers and remember nothing comes free of cost. Cryptocurrency exchanges don’t work on any offers; it works on the blockchain and no. of dealings. Many times, you get emails stating offer links, avoid them! Don’t click on the link. These links will take you to the webpages meanwhile resulting in scams.

  • Beware of Social Media:  

Social media or popular media is the place where you can be fooled with a simple trick or sweet trap. Many scammers use social media to interact and for Cryptocurrency Scams. These people add you to the groups or have a conversation with you to hack your device or to rob your cryptocurrencies. Though, many crypto interest pages are stating regarding Cryptocurrencies. Many posts demand the payment and deal on crypto assets through social media. Never trust it and question regarding the dealing. Always be cautious of these social media posts and remember social media is not that trustworthy that it shows!

Protect yourself from Crypto scams on Flitpay!

As we all are aware of crypto scams and their resultant effects. One can perform some security measures while transactions. Although Flitpay provides double authentication security which is protected from the unique codes. These codes are managed by the account holder only and no one has a link to these codes.  So, this way Flitpay secures your account from all the scams. You can freely enjoy investing without any risk or hindrance on www.flitpay.com.

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