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.
It is surprising that such articles are popular and appreciated nowadays. We are building a decentralised future and do not know the basic rules of security when we work on the Internet and are particularly sensitive to our finances. Cryptocurrency gives a unique chance to manage their finances on their own and fully control them, but instead we put monosyllabic passwords and share private keys.
