After Crypto Profits? Educate Yourself on How to Recognize Scams

Crypto scam

Scammers continue to lurk as more individuals learn about the power of crypto. Since its creation, crypto has been a financial phenomenon around the world. With new coins being created each day, buyers have to be more selective about what they choose. 

Too Good to Be True

When it is too good to be true, then it is probably a scam. There are a lot of notable crypto opportunities mentioned on bullpreneur with backed up credentials. If an incredible crypto opportunity comes your way but lacks credentials, then it is probably a scam. This is especially true when those miraculous crypto offers are sloppily personalized with your information. 

Emails

Email scams will always be at the top of the list for duping individuals out of money. Sending an email blast about crypto takes one click. Thousands of people get the email, and it only takes one reader to bite. It’s not about reading (or believing) what’s in the email, it is about opening the link. Phishing scams are done this way, and it is the easiest way to get a virus on your computer. If this computer contains your crypto information, then consider it compromised. 

A Stranger Appears

Just like the stock market, crypto has several ways for you to monitor the action live. Live coin watches provide the most up to date information for managing your crypto portfolio. Investors that don’t have a dedicated page will try looking for information using search engines. On one hand you could potentially land on a goldmine of a crypto site. On the other hand, you are now away from official outlets, and completely open to viruses. 

The stranger is known as a bitcoin miner, that can also come bundled with a trojan horse. These files steal valuable resources from your computer while dangerously harboring personal information for a later upload. The stranger persists through a reboot, and without early detection may require a reformat to remove. 

Free Is Not Always Free

Like all financial services, crypto has free and paid variants. You get what you pay for, so be careful when trusting free alternatives. The biggest scam in this area are crypto wallets that offer you free crypto for signing up with them exclusively. Unfortunately, once you park your funds in their system, it is a one-way trip. Even if it isn’t a scam, millions of dollars are lost every year from transfers using low quality crypto wallets. 

Hardware Scams

Hardware scams are still making the rounds with crypto. It involves a user putting crypto specific viruses on a thumb drive. Once this drive is plugged into your system, it silently collects valuable data about your investments. This is more of a Windows problem than a Mac one, but users on older versions of macOS could potentially run into trouble.

Be Smart

Everyone wants to make money, so don’t make bad judgements based on greed. Sometimes you’ll recover, but there is a risk that you’ll dig an insurmountable hole. Scammers are smart, but a patient investor is smarter.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here