How NOT To Get Scammed

[jcarlo]

it is not easy today to get good project to invest, if the project not scam it is low quality and dead after few months

but I still believe there will be projects that can last a long time, market trends may be bad but I am sure there are some developers who are responsible for the project. Most importantly as an investor you must choose the right project for investment

Both new projects and coins that have been traded on the market are experiencing difficulties due to market conditions that have not yet recovered. Projects that die after listing are usually caused by the developer team leaving the project or not being able to reach the target roadmap so that investors begin to lose confidence. I agree that many projects have a dedicated team and I think this kind of project will still rise when the market begins to recover

[1714477151]

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[princeyeboah]

The best way to stay safe in crypto is be very careful when it comes to choosing a project or coin to invest in. To be careful here means the investor must read and research vehemently on the project in order to ascertain its authenticity and capabilities of becoming successful. Targets during the research should focus on the team and its expertise level, the product, the use case, the idea pf the project etc.

[BlackFor3st]

I believe that every good lesson starts with a good story and on this note, I want to tell you about the experience I had that made me cautious of "Get rich quick" schemes online especially those pertaining to Cryptocurrencies.


I discovered Bitcoin in early 2013 and although I didn't take it seriously at first, I was earning little money from it doing tasks online (pay for view, faucets and such), I took it more as a hobby and never intended on selling the bitcoin, I just knew in my heart that it would do great so I wanted to accumulate as much as possible without having to spend my money buying it (this was before I got into mining), fast forward to 2015 when the money doubling schemes were everywhere, I kept seeing adverts online and even though I knew better, I decided to invest in one of them (Avabitcoin) with the coins I got from my early days of discovering bitcoin, Avabitcoin was a platform where you invest bitcoin and they supposedly invest it and return profits to you on a daily basis, I decided to take the risk and invested for the first day, got back my money plus 12% profit, and greed overtook me and I did kept doing it for 2 more weeks before they vanished with my funds. I kept going all in even when I had already doubled my money.

If you want to avoid getting scammed online, you just have to follow the following:

Greed: Greed has led a lot of people straight to rekt, like my story above would have told you, I couldn't resist the pull of greed even when I had doubled my funds.

HYIPs: When it looks too good to be true, then it's probably too good to be true, when you see any investments that promise high yield returns, please stay far away from them, when you see genuine projects that offers returns, most of their returns are so low, some of them are average of 10% per annum and it's a wonder that we see platforms offering 10% and above in a day and we gladly jump straight into rekt, like I said, if it sounds too good to be true, then it's too good to be true.

FOMO: If not for the hype that Avabitcoin generated, I would not have invested in it in 2015, learn how to DYOR and avoid what others have to say about projects they seem to support, infact your mindset should be that everybody is trying to rip you off so if you always look at every hyped project with that mindset, you would have a clearer picture of the project without the blindfold of FOMO.

Rushing: Avoid rushing into any investment because you heard it's paying others, one of the virtues of a Cryptocurrency investor is patience, Cryptocurrency investments are high risk investments and you have to treat it like gambling, never invest more than you can afford to lose, never go all in on any project no matter how good it looks.


EDIT:
Click on random websites: Many airdrop websites you see these days asking for personal details are fake and many of them are just clever ways to steal your private details and use it to steal your funds, be careful of the links you click and if possible, bookmark your sensitive websites (the ones that need private information like private keys and passwords) so that you wouldn't fall for a clone website.

Use new wallets: We can all remember the recent incident that happened with satowallet where the wallet stopped working and users lost a sizable amount of funds, we should stick to the existing and trusted wallets instead of just jumping into any random wallets swe see online, many of them don't have your best interest at heart.

Repeat Passwords:  I was just surfing through the forum a few minutes ago and saw a post where a guy managed to hack an ICO website and contacted the admins and the admins just don't care, never repeat passwords in two websites so that if a hacker manages to get their hands on one of your passwords, they would not be able to affect your funds in other platforms.

Please try to include telegram scams on your list, they are trending big now and almost all newbies from india have fall victim to this scam tricks, scammers steal project teams image and use a near identity name too, for example a legit project team member can  go by @fisher as the username and scammers will change the name to @flsher with same profile image to give you good offer, if you don't check very well you will think its legit.

If you have any similar experience, please kindly share it, it might help others (especially the newbies to avoid being scammed by shady projects out there and if I see good suggestions, I would edit this post and add them as well.

All of it are the common mistakes of people who wants their money to double or more than that easily. Easy money is very attractive and many will take the risk especially if you are a greedy person who are thinking about the profit only.

So far, I was unable to experience any of these mistakes and hoping that I can still avoid it. What I have experienced is, I lost my money because of my carelessness. I send the money to the wrong address and boom my money just fade like a dust and that is the lesson that I learned which I don't want to happen again.

[macchiato]

but the most dangerous one is greed, not knowing when to stop is bad in every aspect of life but at the same time greed has its purpose too

Definitely correct. I think we should all learn contentment. Most of the times, greed makes us lose more than we could earn. I know because I experienced it myself. When I was still new here, I wait too long before exchanging my coins. Turns out those coins are already depreciating and has no more chance to depreciate. My colleagues were able to sell theirs at an amount thrice than what I got because I was not contented before. But I learned from that experience and became contented now of what I have.

[lienfaye]

Sometimes we are ending up victimized by scam project or scammers due to greed of earning huge in span of short period. Lack of knowledge is one of the factor as well, some people believe in others hearsay and easily bite the offer even it is too good to be true.

So be careful and conduct a research, dont jump in any earning opportunity if you dont understand well how it work and the risk associated with it.

[huu78]

Very good information for new people to cryptocurrency, in order not to be dragged the scam further in the future. My biggest mistake is the same password when signing up for an airdrop website on many platforms eventually many incoming email notifications are successful logins on some of my exchange platforms. Fortunately, I have no balance in some exchange because only to sell my altcoin from the bounty. And my main exchange is in the strict use of F2A. So do not get your password the same when registering on a website as described above.

[Nihyfehmih]

I believe that every good lesson starts with a good story and on this note, I want to tell you about the experience I had that made me cautious of "Get rich quick" schemes online especially those pertaining to Cryptocurrencies.


I discovered Bitcoin in early 2013 and although I didn't take it seriously at first, I was earning little money from it doing tasks online (pay for view, faucets and such), I took it more as a hobby and never intended on selling the bitcoin, I just knew in my heart that it would do great so I wanted to accumulate as much as possible without having to spend my money buying it (this was before I got into mining), fast forward to 2015 when the money doubling schemes were everywhere, I kept seeing adverts online and even though I knew better, I decided to invest in one of them (Avabitcoin) with the coins I got from my early days of discovering bitcoin, Avabitcoin was a platform where you invest bitcoin and they supposedly invest it and return profits to you on a daily basis, I decided to take the risk and invested for the first day, got back my money plus 12% profit, and greed overtook me and I did kept doing it for 2 more weeks before they vanished with my funds. I kept going all in even when I had already doubled my money.

If you want to avoid getting scammed online, you just have to follow the following:

Greed: Greed has led a lot of people straight to rekt, like my story above would have told you, I couldn't resist the pull of greed even when I had doubled my funds.

HYIPs: When it looks too good to be true, then it's probably too good to be true, when you see any investments that promise high yield returns, please stay far away from them, when you see genuine projects that offers returns, most of their returns are so low, some of them are average of 10% per annum and it's a wonder that we see platforms offering 10% and above in a day and we gladly jump straight into rekt, like I said, if it sounds too good to be true, then it's too good to be true.

FOMO: If not for the hype that Avabitcoin generated, I would not have invested in it in 2015, learn how to DYOR and avoid what others have to say about projects they seem to support, infact your mindset should be that everybody is trying to rip you off so if you always look at every hyped project with that mindset, you would have a clearer picture of the project without the blindfold of FOMO.

Rushing: Avoid rushing into any investment because you heard it's paying others, one of the virtues of a Cryptocurrency investor is patience, Cryptocurrency investments are high risk investments and you have to treat it like gambling, never invest more than you can afford to lose, never go all in on any project no matter how good it looks.


EDIT:
Click on random websites: Many airdrop websites you see these days asking for personal details are fake and many of them are just clever ways to steal your private details and use it to steal your funds, be careful of the links you click and if possible, bookmark your sensitive websites (the ones that need private information like private keys and passwords) so that you wouldn't fall for a clone website.

Use new wallets: We can all remember the recent incident that happened with satowallet where the wallet stopped working and users lost a sizable amount of funds, we should stick to the existing and trusted wallets instead of just jumping into any random wallets swe see online, many of them don't have your best interest at heart.

Repeat Passwords:  I was just surfing through the forum a few minutes ago and saw a post where a guy managed to hack an ICO website and contacted the admins and the admins just don't care, never repeat passwords in two websites so that if a hacker manages to get their hands on one of your passwords, they would not be able to affect your funds in other platforms.

Please try to include telegram scams on your list, they are trending big now and almost all newbies from india have fall victim to this scam tricks, scammers steal project teams image and use a near identity name too, for example a legit project team member can  go by @fisher as the username and scammers will change the name to @flsher with same profile image to give you good offer, if you don't check very well you will think its legit.

If you have any similar experience, please kindly share it, it might help others (especially the newbies to avoid being scammed by shady projects out there and if I see good suggestions, I would edit this post and add them as well.

This is very true. Thanks so much for the write up,  it is very comprehensive. It's not good that we learn the hard way, after losing so much money. Simple precautions can save us alot of stress and headache

[princeyeboah]

it is not easy today to get good project to invest, if the project not scam it is low quality and dead after few months

but I still believe there will be projects that can last a long time, market trends may be bad but I am sure there are some developers who are responsible for the project. Most importantly as an investor you must choose the right project for investment

yeah a lot of projects have the capacity to last for long term but the main thing is their identification which is very important for not getting scammed, and it is not necessary that the projects would be judged on the basis of the market conditions, the legit project is always legit whatever the market trend is, but scam project will always scam you even in the bull market.

Of course, it is very difficult to idea scam projects from the good ones. This is why investors are always entreated to learn how to research very well into projects. Constant practice makes perfect hence investors must begin to study about the team members paying attention to their individual profiles and qualifications because this will help in knowing the experience level of the team.

[aomakun]

Sometimes we are ending up victimized by scam project or scammers due to greed of earning huge in span of short period. Lack of knowledge is one of the factor as well, some people believe in others hearsay and easily bite the offer even it is too good to be true.

So be careful and conduct a research, dont jump in any earning opportunity if you dont understand well how it work and the risk associated with it.

we have to be able to do time and income calculations, it doesn't make sense for the project to run short and pay big unless the project is made by a popular developer. so always pay attention to the parts that make sense, and research the available data

[RDNX]

Every day, many bad people try to commit fraud. Because the Internet is a place that has the potential to do scams.
As mentioned above, it usually happens because people want to get rich quick.

[Rodeo02]

Sometimes we are ending up victimized by scam project or scammers due to greed of earning huge in span of short period. Lack of knowledge is one of the factor as well, some people believe in others hearsay and easily bite the offer even it is too good to be true.

So be careful and conduct a research, dont jump in any earning opportunity if you dont understand well how it work and the risk associated with it.

we have to be able to do time and income calculations, it doesn't make sense for the project to run short and pay big unless the project is made by a popular developer. so always pay attention to the parts that make sense, and research the available data

No, actually even well known developer cant do that in short period of time, even popular crypto BTC  and ETH  takes time to make the price that high, only those persons with so much patient and believer is the one who get that so much rewards for waiting that long.

[Lauren Smith]

One of the first things they learn in classic scam school is how to create urgency and panic or even confusion. A mixture of all is best.

Make the victim panic because of FOMO and make sure there is a time window in order to "act fast" or lose out. If you ever feel very pressured to make a decision just remember its ok if you don't make it right away. Don't get fooled by these methods they use. Even advertisers do it. I have often seen a count down timer for a limited sale. Only to see it restart shortly after. They also like to limit the availability to create elitism and scarcity.

The best short advice i can give is simple. Sleep on it. Dont react right away. Dont be impulsive. Take your time. It took you a long time to make the money so make sure you take a long time on deciding where to spend it.

[Novatech8]

1. Take your eye off too good offers, your attention is needed thats why they are good.
2. Use more than one wallet, even if it managed to get hacked you won't be losing your entire coins and tokens
3. Email has become a big target for hackers and scammers, be careful which links you click in your email

[owengtam09]

I got scammed before and only one person who just knows what happened, my best friend who gave me the money the amount that I scammed is the only one who knows what happened, I am really shy if someone knows what happened to me before. It is really hard to buy online,  but I trusted that person and now I lose money, but in terms of about airdrops, I choose what airdrops to join. I have one airdrop saw that you need to give even your private keys. So for sure, that's already a scam, private keys should not expose public and not applicable to share so be careful on what you were joining.

[Xxmodded]

When we know good developer maybe not scam with investing project, many ICO manage by not trusted owner and he looks new for scam our investing coin project, I never investing with new coin manage by not popular owner. Trusted owner and have experience become my favorite site for investing and can reach much profit later with higher price.

[kaya11]

Being scammed- not yet, but being hacked-yes and twice. It occurred on my first days of engaging in crypto. One reason for that is ignorance of how the internet works and that includes hijacking your accounts like gmail and the likes that has passwords on it. Well I was at fault because I did not know that in spam emails you could be directed to an untrusted site that may leave you being compromised. lose about 800-1000 USD at that time but never I never cried, despite the unlucky experience I still manage to get back the money I lost in certain activities like bounty hunting, trading, and mining. even though I had such bad experience I still leave my crypto currencies on centralized exchange, it is almost a year since I opened them, I am waiting for the right time, somehow I believe deep inside that it will be back, those times that alts are it's peakk point were easy money in this business is every where- I am not losing hope here.

[doomloop]

1. Take your eye off too good offers, your attention is needed thats why they are good.
2. Use more than one wallet, even if it managed to get hacked you won't be losing your entire coins and tokens
3. Email has become a big target for hackers and scammers, be careful which links you click in your email

That is the main trick used by scammers. Make big offers that will drive people crazy. They even lose their sense of thinking and understanding after coming across such unreal offers and even if they wont believe, they are going to give it a shot as there is nothing wrong with trying. Scammers are not that good at hacking wallets, even not with methods like brute forcing. And like you said, do not enter the territory that is unknown.

[K4C]

You hit most of the high points, greed is the major cause of why people get scammed and keeps getting scammed in the Cryptocurrency space, if people would avoid it, then most of the scam cases wouldn't exist at all. But we have to consider that some people just do not know better especially the victims of phishing and I thank you for adding it in this post, bookmarking your favourite pages would help many people avoid this scam method as well.

[perla]

1. Take your eye off too good offers, your attention is needed thats why they are good.
2. Use more than one wallet, even if it managed to get hacked you won't be losing your entire coins and tokens
3. Email has become a big target for hackers and scammers, be careful which links you click in your email

That is the main trick used by scammers. Make big offers that will drive people crazy. They even lose their sense of thinking and understanding after coming across such unreal offers and even if they wont believe, they are going to give it a shot as there is nothing wrong with trying. Scammers are not that good at hacking wallets, even not with methods like brute forcing. And like you said, do not enter the territory that is unknown.

For email, this is what people most mistake. They use 1 email to use in main wallet and then other account. I think it is necessary if use 2 emails and 1 for main and the other one is to share in crypto world or maybe in bounty/airdrop. With that, our main email wouldn't easily reveal and not targeted by scammer easily.

[Omega Weapon]

The best way to stay safe in crypto is be very careful when it comes to choosing a project or coin to invest in. To be careful here means the investor must read and research vehemently on the project in order to ascertain its authenticity and capabilities of becoming successful. Targets during the research should focus on the team and its expertise level, the product, the use case, the idea pf the project etc.

When you have to do so much just to try to not get scammed instead of concentrating on trying to make money with your investments then it is a better idea to just forget about investing in new coins, many do not like this idea because they do not want to entertain the idea of limiting their potential profits, but since my capital is limited I cannot risk my coins in projects that ultimately will not bring me any benefit and not only will waste my money but my time as well.