How Should We Protect Against Cryptocurrency Fraud?

Cryptocurrency Scam

We face risks in many areas of our lives. Although these risks vary, they can turn into danger at certain levels and even endanger our lives and, more importantly, the savings we make. While the security risk that comes with investing doesn't always mean you should avoid it, it does mean you should take certain precautions. Many scammers have tried real methods that they will come back to time and time again. The best part about these repetitions is that it is easier to stay away from deceptions after experience. We have summarized for you the methods frequently used by crypto money fraudsters and how we can protect our accounts from this fraud.

 

Fake Accounts

A fake account doesn't need a real person to run it. Because impersonating bots are proliferating widely on social media sites. These bots have been prepared and programmed to write articles close enough to what you expect from people. Because of these similarities, you may not realize that an investment offer is a scam. Don't be fooled by other accounts that comment or reply to an offer on social media posts. Because those accounts can also be fake redirect accounts designed to attract you.

Even if you've done your research and followed investment tips about cryptocurrencies from reliable sources, you could be redirected to a fake website or app and get checked by scammers due to a moment of carelessness. They can also create almost the same websites, such as fake email addresses and logos that look very similar to legitimate ones, which scammers can create to attract new or experienced users. Cryptocurrency scammers are also known for creating fake links on payment pages. Always check that the URL is exactly the same. Be sure to check that there is a small lock icon next to the URL to indicate that you are on the security page and that the site address must have "https" at the beginning.

 

Fake Apps

Scammers can also lure you in by creating completely fake apps that appear to belong to legitimate cryptocurrency companies. These apps can be for any type of smartphone and any operating system. The most obvious signs that an app is fake are; we can point out that the web copy in the app store is confused with typos and the colors of the branding are very similar but can be distinguished by comparison.

On Coinpara, the Digital Asset Transaction Platform, Bitcoin and other cryptocurrencies are BitGo insured against cryptocurrency fraud. For detailed information, you can check our Market page.

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