5 essential rules to avoid cryptocurrency scams

[Bit talk]

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.

 

[BIT WRLD]

Hi
Thank you for this post, this is used for who is new in crypto market and who worry about cryptocurrency scams

[rollingstorm45]

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.

 

thanks a lot, guys
Nowadays many Scammers are in the world of crypto
hopefully tips from you can be useful to others,
and for those who have been cheated by project developers through ICO, use the experience to be more careful

[udayantha11]

yes everywhere scammers. specially i have seen in the ICO groups. i have had experiences too. lot scammers get money from poor people who does not know anything.


Strong password i can highly recommended ,  Do not share your private key under any circumstances.

[crestella]

This information is very useful for me thanks for sharing it here.
I have a little extra, do not easily tempted by the lure of big profits and do not easily make transactions if you do not know details about the person or company.
And never give your key or password to anyone.

[Hui8]

I think its good article you have made here. I liked the point of cold storage. Its obviously true that if you are going o hold the coins for longer period of time then there is no point in keeping them on web wallets or also the exchangers which can turn out to be very risky one. I think one should always seek for the safe house and in this case it is the cold storage only. We have seen lot of hacking going on in the exchanger also so it is pretty much good way of safeguarding our long hoarded coins. Rest of the points are off course indeed must be followed to ensure the security and safety of ourselves.

[krigger]

This is one of the best advice on avoiding cryptocurrency scams that i have ever seen, simple, easy to read and straight to the point. A lot more people should read this because the number of people that are falling to cryptocurrency scams now is just way too much. Also I would like to add that if anything seems too good to be true, then it usually is, don't trust it

[Crypto Debate]

its very useful for crypto investors, this 5 rules relay help full thank you very much for much, if i have Smarits surely i give for this post but i am JR member so don't have Smarits  

[Jdragon6x6]

This post is very helpful for those who are just starting with cryptocurrency. A lot of people easily fall for those scam and I hope less people will get scammed or at least have an idea on what to do to avoid being scammed. I would like to add something as well, don't fall on easy money promises. Nothing good comes with easy money, one must struggle first to make it to the top.

[kiw_91]

Please ask yourselves... is the coin I’m investing in secure, fast, scalable, great development team and community? If not... that coin isn’t going anywhere. It’s a pump and dump. Having a small supply raises the price but in reality it will never be a “merchant” coin. Invest in the coin that has the ability to be the coin for commerce. Do your research.. invest in the coin that meets that criteria. Don’t go after the advice of an investor who is sitting on a bag waiting for you to buy up the price before they dump.

[umrohyuk]

This information is helpful especially for me my self, I just started in this forum crypto currency. So, I need this kind of information to improve my knowledge and to avoid scam in participating in any ICOs or bounty. However, we need toward improve our capability.

[sotoshihero]

Very informative. Avoid airdrops which ask for emails as possible, or use a dummy email instead. Since most phishing activities are through emails. Once you click the link and login, you are compromise.

[patz22]

These are correct and very informative. It will definitely help a lot of newcomers in this industry. Thanks much. I have one share, this would be for investors who plan to contribute in ICO since nowadays it is a trend. Yes, dont trust and verify I am one of the victim of hashcard. There are ways to avoid scam ICO. Check it here: https://cryptocurrencyhub.io/ico-scams-and-how-to-avoid-them-635274901951. They have a project which I think is one of the best and it is good to be true so me and my friends (who I invited to join)  were scammed. Be careful folks as there are a lot more scams out there.

[linkHA]

Most of the time I advise newbie to use a hardware wallet.
Because the hardware wallet can protect the security of the token more effectively.

[batang_bitcoin]

Scam is when you are purchasing something, you paid and you receive nothing.

I guess you should generalize this into two thing, scams and hacking.

[Moiyah]

In general, being alert is one of the key to protect purselves from scam. Be vigilant enough before pproceeding in any actions related to cryptocurency. As we all know that the interests of people of cryptocurrency are growing that is why frauds and scams are doing malicious intent nowadays.

Anyway, thanks for creating this thread to remind us about how to secure our investments. I'll follow your advice about having a hardwallet. Though I may not have one, but I'm gonna research about it later.

[ethereumhunter]

I hope that all of us can understand of this so we can avoid the scam that might happen and we can protect our account and save it for private. by doing this and we are following every step of the info, I think we don't have to be a worry if something bad will happen because our account is safe although there is no 100% guarantee for getting safe forever.

[iWGC]

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.

[samarabtc]

Good post .From my perspective i think it can helpful for the new investors and who wants to invest on this market.

[jlanzago]

Thank you for the list, however most scams nowadays are due to phising e-mails, fale telegram admins, and fake addresses during ICOs. All of them are avoidable but people do not check. Telegram admins have a user name and an "admin" tag in the group they are in, so if you just take the time to confirm this is the real admin, you can easily avoid them. Phishing e-mails usually come from different or similar domains, not the same (although sometimes the real e-mail marketing account gets compromised and scammers send an ETH address to contribute, you should always check). Never give your private keys to anyone, for an airdrop for example, or to "open" a wallet. Never click links, always go directly to the real website. And bookmark them.