How To Avoid Crypto Scams?

Crypto scams are a real thing. 


As the crypto industry has been on the rise for the past couple of years, sadly, it has opened more gates for scammers and fraudulent activities. More and more people are investing in virtual coins these days, but it is also important to beware of scams that are as real as they get. We have made this guide to help you prepare so you can avoid getting into these scams and earn your passive income with crypto without any trouble.

Be Informed

No one can scam you if you do your homework right. It is important to be an informed customer, so you can identify a scam when you see one. Before investing in anything, get answers to the following questions.

  • Who created the coins and why?
  • When were they created?
  • What technology is used?
  • How many coins are being produced?
  • How are they different from other coin offerings?
  • What value will they provide?

By getting answers to these questions, you can ensure that you are not investing in something that is only created to make the founder rich and has no value to you.

Don’t Trust

The Crypto industry is getting bigger each year, and everyone is there to give unsolicited advice to others. You should be careful of the people who give this advice. Don’t listen to celebrities or people on the internet. Trusting the people you don’t know well with your investment will be the worst decision.

Secure Your Crypto Wallet

If you are saving your money in a virtual wallet, you need to ensure that it is made by a reputable company, so the chances of scamming are less. You shouldn’t give your credentials to anyone, and you should also refrain from logging in to public wifi. Signing up for two-factor authentication is also necessary to protect your crypto wallet so that even if someone gets your phone or laptop, they cannot access your wallet. It is also advised to use multiple wallets or cold storage devices that are not connected to the internet to ensure that you don’t lose everything.

Keep Multi-Factor Authentication

Multi-factor authentication allows you to keep security tight around your crypto wallet. This feature enables you to have a notification on your phone when someone tries to log in through your laptop. It is beneficial in case you miss your laptop and someone tries to scam you, your phone will receive a log-in code, and the scammer will not be able to access your wallet without the code.

Check The Website URL

People also make the mistake of putting their information on spoofed websites. You should not operate a website that is not secured, as your data can be easily hacked with it. Make sure you check the website URL before putting in any information. The URL should have HTTPS in the name and not HTTP.

Conclusion

You can follow these five steps to ensure that you don’t fall for crypto scams. It is also better to take professional help if you are new to this industry. At 0Percent, we help our clients increase their passive income with crypto so they can have better finances and a stable future. You can reach out to us anytime, and our advisors will help you invest in crypto while keeping your security as their first priority.

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