Scams are getting bigger, getting better as before - statistics of people getting scammed in crypto is getting high so how do we protect ourselves? Here are some things that you might want to remember to avoid getting scammed (especially if you are new in crypto)
I'm listing some of the most common scams that bad guys uses (list was taken from Binance Academy) and I'll be expaining how they work as simple as I can:
1. Phishing - always be warry of these one as this is the most common, they take your information and use them! Be wary of the sites that you are logging on, some fake sites really do look like the real one so alwys check the URL to ensure that the site you are visiting is the real one.
2. Fake exchanges - just like the fake websites that copies the look of the real website, this happens on fake exchanges too. Make sure you download the correct exchange application or make sure to only do transactions on trusted exchanges.
3. Blackmail - Some scammers usually sends malwares then they will require you to pay off in terms of crypto.
4. Pyramid scams - scammers will usually offer you to join a new project then will ask you to invite more people to join so on and so fort.
5. Impersonation - they will pretend like an official or a worker of a crypto firm or an investment company and will usually provide you with some too goo to be true terms if you invest with him/her as a middle man
I hope these information will be able to help you wit your crypto journey and how to avoid a possible scam.
Also an additional, RUG PULLS - these are some developers creating a new coin and having inviting people to invest on the coin only to withdraw all the funds away! just like what happened to the SQUIDGAME TOKEN. So once again I am reminding everyone to DO YOUR OWN RESEARCH FIRST (DYOR) before actually investing on a coin or a token, do not just buy the hype. You know KNOWLEDGE IS POWER.
