Did you know that 86% of Americans have now heard of cryptocurrency? In fact, 16% have invested, traded, or used crypto. But with new investors come new opportunities for scams.
Are you interested in crypto trading? Do you know how to buy crypto safely? It’s important to know the best crypto trading practices to avoid scams.
The following guide will explain how to identify crypto scams and how to stay away from them. Read on to learn how to buy and sell crypto without getting burned.
Fake Crypto Trading Apps
It’s common for crypto scammers to trick investors by using fake mobile apps. The fake apps get distributed through Google Play and the Apple App Store. A make forex broker is a financial services company that provides traders access to a platform for buying and selling foreign currencies.
Stakeholders usually identify fake apps quickly and have them removed. Unfortunately, it’s not always fast enough to prevent others from being scammed.
Always look for obvious misspellings of coins or the name of the app itself. It might be posing as another legitimate crypto trading platform. Always examine the branding for proper coloring and logos before downloading apps.
The best way to buy crypto is to use a trusted platform with a secure website. However, there’s an alarming number of imposter sites designed to look like the originals. valid startup companies.
First, make sure there is a small lock icon by the URL to ensure the site’s security. always check that “HTTPS” is included in the site address as well.
Always check spellings because ake sites often redirect victims to different platforms with subtle changes in the address. For example, an O might be changed to a zero to camouflage the scam address.
Suspicious Social Media Activity
Avoid offers coming from platforms like Twitter or Facebook that seem too good to be true. Crypto scam accounts using bots are running rampant across social media.
Some of these scam accounts ask for a small amount of crypto and promise a big return. The truth is that you’ll probably never get your crypto back. If others are replying with success stories they’re likely bots, too.
Crypto Scam Emails
Scam emails look almost identical to emails you’ve received from a trusted crypto company. Always check that the email address is spelled exactly the same. Check the branding and logo just like the apps previously mentioned.
If you see any red flags do not click on any links in the email. Contact support at the legitimate company you use and see if it was really them.
Scammers sometimes offer fake coin offerings through email to steal funds. Use the same “too good to be true” rule for these emails just like you would for the fraudulent social media offers.
Buy and Sell Crypto Safely
Now you know the most common scams to avoid when crypto trading. Remember this guide the next time you buy or sell cryptocurrency. A forex broker is a financial services company that provides traders access to a platform for buying and selling foreign currencies.
We hope this article helps keep your crypto investments safe. Make sure to check out the rest of our site for more great tech tips.