List of cryptocurrency scam and how to avoid it

Every profitable businness and investment involve risk and reward. Cryptocurrency scams are rising, and scammers are making use of that opportunity to rob people of there hard earn money/investment. Currently the rate at which people are being scammed is really alarming, the rate at which people are being scammed is really high. Thieves make use of both the old way and new way to scam people of their crypto coins, telling them to deposit a particular amount of coin so as to recieve more coins. This article would list some of the ways scammers use in stealing people off their money.

*Dating/Relationship scam:

One of the way thieves do steal people crypto is through this dating sites. These scams involve relationships and are strictly long distance relationship. This happen when one party takes time to gain the other party's trust, and after gaining the trust, one party starts to convince the other to buy or give money in some form of cryptocurrency, as crypto is hardly traceable. After this has happened, the party scamming then disappears.

Before going into any online dating relationship, be sure to confirm that the person is real before going depper into the relationship, talkmore of sending any money or crypto coin.

*Cryptocurrency giveaway scams:

This is mostly used by scammers and mostly done through social media. You would see many social media app trying to promise bitcoin or any other crypto coins which is fake. Once you click on that link, you would be taken to a site whereby you would be asked to do a verification and you would have to deposit a particular amount of coin so as to get verified, going through this process you would be scammed, and you would recieve nothing. Most of the time celebrities names are being used to scam people. So you would have to do well to avoid any scam link. If you should fall vicitim of this you might not only lose your coins, you might also lose some of your personal information. So do well to avoid one once you see one.

*Bitcoin investment scam:

It no longer news that bitcoin is the king of all coins and it is mostly used by scammers to scam people of their coins. This happen whereby scammer potray themself as an investor, they claim they have made million through investing in cryptocurrency and lure you into investing also and convincing you that you would also make a lot of money/profit investing with them. They tell you to deposit a particular fee upfron or even more, they might even ask for some of your personal details to gain your trust, but that is a big scam. Before going into any investment, be sure to get into details and be sure that it is real.

*Fake crypto project:

This is also common among scammers. They pull this string really well and scam people off their money. They pump or bring up fake project, or fake NFT. They lure you into a project whereby you buy, then they tell you to mine the coin or trade it. Eventually the the mining would just stop and they would disappear with the money you used in investing. It would look all real before it turns out to be a scammer. Be careful and sure to know which investment you are goimg into.

*Cryptocurrency exchange:

This is a situation whereby a scammer would pose as an investor, asking you for a crypto exchange and even promising you more coins later, whereas it is fake. You might not know and it might seem real till you are scammed. Make sure you avoid stuffs like this, if you want to exchange your coin, you make use of popular apps like coinbase, cash app and many more.

NOTE

Before going into any crypto scheme, make sure you do your research right, be careful, don't just click on any link that is trying to double your coin if you should invest. Make sure you are careful and do your research right.

Komolafe Peter Adedayo

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