5 essential rules to avoid cryptocurrency scams
The list of basic steps you should take to protect your earned money from frauds and hacker attacks.
>>>Have a very strong password
Obvious, isn’t it? Still, it’s funny how many people are lazy to follow this rule. Did you know that for as less as $30 dollars, there are password crackers that can iterate 300 MILLION passwords per second ? Be wise and choose a combination of random Capital and small letters, symbols, and numbers. Create different passwords for all the sites and write them all down on a paper, which you keep stored safely.
>>>Always check before making any transaction
Millions of funds have been lost because entered addresses happened to be incorrect. Never try type out individual addresses – better simply copy-paste the address or scan QR codes whenever available.
>>>Use the cold storage
Web-wallets and exchanges should be used for active trading only. Coins you whant to keep for a long-term should be hold onto offline hardware wallets.
>>>Double check all the crypto-relates web-sites you visit
Is it a malicious site your antivirus detected? A spoof Binance site with some letters misspelt? A site that just looks wrong? The best way is to access crypto services from the bookmark toolbar.
You can also use a an extension like MetaMask, which will automatically detect a fake MyEtherWallet.
>>>Don’t trust. Verify
There are a few online services that were specifically created to index fraudulent websites and services. Badbitcoin. org, for example, provides a comprehensive list of scams that were either confirmed or reported by users. The bot @thatsascam on Twitter detects spam accounts and notifies you of the same. Always check new projects with one of this services.
I would add, use a password manager as it actually recognizes small changes in a website (like the time when there was a fake binance with two dots under it) and always enable 2-factor authentication with a safe word on the exchange if available.
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