On my last post ;
https://bitcointalk.org/index.php?topic=5379998.msg58907896#msg58907896I 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
