FIVE HELPFUL TIPS THAT WILL BE EFFECTIVE IN AVOIDING CRYPTOCURRENY SCAMS.

[Ifunanyawinner]

On my last post ;
https://bitcointalk.org/index.php?topic=5379998.msg58907896#msg58907896

I expressed concerns about the rising popularity of crypto scams and pointed out a few ways i had thought would help curb or reduce the menace.

But through comments and contributions on the posts, I found out that the measures I thought would have been effective would actually compromise the decentralized nature of the cryptocurrency ecosystem.

Being determined to educate myself on how to avoid or help reduce crypto scams and rug pull schemes, i made a few research that I thought would be effective without compromising the "decentralization structure" of cryptocurrency and decided I should share at least...

FIVE HELPFUL TIPS THAT WILL BE EFFECTIVE IN AVOIDING CRYPTOCURRENY SCAMS.


1. First of all, always keep your private keys private! ;

No use trying to avoid cryptocurrency scams if you also contribute to it's success by being careless with your wallet keys. Those keys should always be known by you alone no matter what!
There are numerous people posing as assistants and help centers on the internet and require you give them your phrase keys so they can rectify your issues. Please! Don't fall for this! No crypto wallet needs to have your keys before they can help you solve any problem with your wallet!

2. Don't listen to platforms asking for advance fees of any kind! ;

There are numerous investment platforms that requires you to pay a fee upfront in other to benefit from their services. Note that paying advance fees to get access to a service or product in the cryptocurrency space is different from actually purchasing that service or product directly. A crypto platform or network that asks for upfront fees should be suspicious and I would advice that you avoid those at all costs!

3. Anyone can be a scammer! ;

Now this might sound daft but being extremely unbiased in the cryptocurrency space will spare you a lot of loss. Anyone can scam you, anyone can make away with your investments, and nobody is above the influence of gain! Regardless of their social status, symbol or position. Keep this in mind next time you want to make a cryptocurrency investment.

4. Ignore more of meme coins or coins that are named after popular brands, movies, music or events ;

Although some meme coins of the likes of Shiba Inu (SHIB), Dogecoin, Terra and Solana (SOL) has been impressive and reliable in the cryptocurrency space. I would advice that you ignore more of meme coins and focus more on already established cryptocurrencies. There might be potential and possibility of getting rich with these new meme coins but sometimes the risks and uncertainty outweighs the possibilities and that's why it is just best to avoid them.

5. Make due and combative investigations first! ;

Trust me, regret of loss hurts much more than regrets of missing out. No matter the positive hype around a new cryptocurrency, make sure to do your own investigations too! And not just any type of investigations, precise, combative, testing and reliable ones! Challenge the creators or managers of your interested crypto if possible and make them prove to you to your satisfaction that they're not scammers! Check their social media handles and accounts, their post's, their administrative prowess, their consistency, their roadmaps, their plans, everything you need to convince you!
Check!

....

Now, I think these tips are generally substantial to help you avoid cryptocurrency scams. Depending on the response from you guys I might come back with more!
Xxx

[Charles-Tim]

Why using upper case for the title, check other thread title and make correction.

1. First of all, always keep your private keys private!

Your seed phrase can generate your private keys. The seed phrase must be protected as well as the private key as it can be used to access your coins for spending as well.

[lovesmayfamilis]

In addition to being warned about the aggressive use of Caps Lock, I also want to warn you that there is no need to publish the same topic in multiple sections.
You are posing as a connoisseur but did not bother to read the basic rules of the forum. Namely, this is a good sign of respect for the community.
https://bitcointalk.org/index.php?topic=5380682.msg58950052#msg58950052
 

[Cookdata]

If you want your post to be in another board but mistakenly posted on wrong board, scroll down to the last page of your thread and check the left side you will see an option to move topic, click on it and move your topic.
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Delete your first thread in the Altcoins  board or move to off topic.

[Ifunanyawinner]

In addition to being warned about the aggressive use of Caps Lock, I also want to warn you that there is no need to publish the same topic in multiple sections.
You are posing as a connoisseur but did not bother to read the basic rules of the forum. Namely, this is a good sign of respect for the community.
https://bitcointalk.org/index.php?topic=5380682.msg58950052#msg58950052
 

I didn't know this was an offence
Sorry!
Won't happen again I assure you!

If you want your post to be in another board but mistakenly posted on wrong board, scroll down to the last page of your thread and check the left side you will see an option to move topic, click on it and move your topic.
When you click on the move topic, you should see something like below image.



Delete your first thread in the Altcoins  board or move to off topic.

Successfully moved mate!
Thank you for your help.

[moderator's note: consecutive posts merged]

[Lucius]

It is always good to warn others how to avoid scams, but the problem is that most people do not want to listen to such advice and do what seems right to them at a given moment. Cryptocurrencies are an ideal platform for online scams because everyone wants to get rich overnight, and the idea of magic money has spread like a virus that attacks everyone, from the youngest to the oldest.

The key is education in primary school, because if children learn something at that age, then they will remember it for a lifetime. If most were aware of how dangerous the internet is, surely the success of scammers would be much less.

No easy earnings, no projects offering 1000% for a week, and no celebrities donating coins on social media.

[Pokapoka124]

3. Anyone can be a scammer! ;
Now this might sound daft but being extremely unbiased in the cryptocurrency space will spare you a lot of loss. Anyone can scam you, anyone can make away with your investments, and nobody is above the influence of gain! Regardless of their social status, symbol or position. Keep this in mind next time you want to make a cryptocurrency investment

Very true. Scammers take advantage of people who trust blindly. Chatting with someone online over a few months doesn't mean you really know the person or that the person is who they claim to be. You could be talking to a catfish and not know it.

I didn't know this was an offence
Sorry!
Won't happen again I assure you!

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[tranthidung]

Scammers reuse their scam methods and they only adjust their methods a little bit. Basically, methods are the same and people got scammed by almost similar scam methods because they don't change. They are greedy, naively and lazy. They want to get rich but don't want to spend time to read and learn.

They probably were exposed to scam detecting methods, tutorials on how to avoid scams but they ignore such advice and resources.

Collection of comprehensive guides on identify and avoid scam projects

[isaac_clarke22]

Most of these are pretty obvious. In addition to #3, nobody will come to talk to you that you can get rich in a few days. I had seen a lot of spam bots in social media vouching a non-existent person with just an edited stock photo of a businessman/businesswoman, and most of those claim to 999x your money within a week while being vouched by fake accounts made by the same scammer, so I should say also that careful of fake vouches. Anyone can claim whoever they are in the internet.