Decoo Info – Detecting Crypto Scams, When there is a surge in financial assets, there are always fraudsters who try to take advantage of opportunities for personal gain. Bitcoin for example, this virtual currency also contributes to this problem. As a cryptocurrency, its value is not guaranteed by government agencies such as the OJK.
Moreover, the infrastructure is in the form of programming languages, which only a few really understand. Since few of them understand how Bitcoin works, newcomers to the business are at a disadvantage.
In addition, social media is increasingly becoming fertile ground for free marketing for bitcoin-based scams.
Naturally, those who like to speculate about Bitcoin expect the value of this currency to always increase, but this is definitely not going to happen. Cryptocurrencies are highly volatile in value and few people know about it.
Here are 3 ways to spot or detect Crypto based scams before you decide to invest a significant amount of capital.
#1. Beware of malware
Crypto is the temptation to download software that can harm your computer. Beware of download warnings from pop-ups that you don’t want, usually not official apps and vulnerable to malware.
Don’t accidentally click on download links or links from social media that usually lead to free sites, and don’t use abbreviated domains like HTTPS or the more popular Bitly.
Visitors are directed to download malware apps with crypto appeal. In other cases, fraudsters create fake crypto surveys with similar fraudulent purposes.
#2. Double profit
This type of scam gives you instant Crypto exchange for cash after you pay commission to the website owner. Or at other times, offer double the investment you had in an instant.
But in the end those promises don’t always come true and we won’t get the Bitcoins or commissions, which we exchanged earlier, and back again.
Fraudsters are successful because they manage to deliver this promise to thousands of people through social media. Of course most of them weren’t fooled, but there were definitely a small number who had to lose their money.
You must understand that wealth does not appear overnight. But through the process. Likewise with the value of Crypto. If Crypto prices rise rapidly in one day, the same cannot be said where Crypto values fall in one period.
You should consider Crypto as an investment asset, being aware that volatility is high. This means moving up and down sharply. The value of your assets is the core value of Crypto.
#3. Bitcoin Pyramid Schematic
This deception, at first glance, is more difficult to digest than the deception before us. But the result is the same, because of the transfers we made, the scammers got the stolen Bitcoins.
They try to implement the idea of risky investing and pyramid marketing like MLM. You can increase your startup’s small investment fund many times by inviting new members via the link.
Later, there will be hundreds of other victims who must follow the scheme. Eventually the first swindler will go and take advantage of him and the rest of the members will gather.
How to protect your Crypto account?
Like many scams called fast enrichment modules, Crypto scams seem to be increasing along with the ease with which victims can handle them. Just because Crypto is a digital currency doesn’t mean you can grow big overnight.
Here are some ways to prevent Crypto scams:
- Don’t believe anyone who says they can only mine Crypto. Again, cryptocurrencies are very useful for the online crime market because they also agree that their value is very difficult to deal with.
- Avoid redirecting URLs to highly attractive social media accounts
- Never transact Crypto or financial transactions via direct messages on social media or online forums
With this discussion of 3 Ways to Detect Crypto Fraud, we hope you can protect your Crypto account from irresponsible parties. Always remember that wealth cannot be achieved overnight. Everything, including Crypto, requires a process that is not short.
Thus the article about 3 Easy Ways to Detect Crypto Scams Before You Invest
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