Crypto is an advanced currency with obvious benefits, such as direct peer-to-peer transactions and the opportunity for crypto-to-crypto trade on the market. Due to increasing awareness about cryptocurrency, investor interest is on the rise but so are nefarious acts by scam artists. Everything on the internet is prone to cyberattacks, and cryptocurrency is no exception, owing to its online nature. Most victims of such attacks end up in compromised situations because of errors in judgement. By being a little extra cautious, however, it is possible to avert an error resulting in financial losses. Therefore, it is important to be aware of such malpractices and use the right safeguards against them.
DO YOUR RESEARCH about the company and people behind any crypto project before you invest in it. Be very careful in case of Initial Coin Offerings (ICOs).
BEWARE OF IMPOSTORS.
Some scamming individuals are claiming to be Bitcoin/Cryptocurrency Investment experts by showing counterfeit certifications/authority letters to the users. Some scammers claim to charge tax or withdrawal fees to recover a long-lost wallet by representing themselves as representatives (among other organizations in this space).
KEEP AN EYE OUT FOR FAKE APPS IGNORE SPAM SCAM EMAILS DON’T GET SOCIAL ABOUT YOUR CRYPTO ASSETS