Safety
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To avoid scams in Binance P2P, follow these safety tips:
1. *Verify the user*: Check the user's verification level and reputation score. Higher levels and good reputation reduce the risk.
2. *Use Binance's escrow service*: Binance's escrow service holds funds until the transaction is complete, protecting you from fraud.
3. *Be cautious of unusually low prices*: If a deal seems too good to be true, it likely is.
4. *Don't share personal info*: Never share personal information, such as passwords or credit card details.
5. *Use secure payment methods*: Stick to payment methods supported by Binance, like credit cards or bank transfers.
6. *Communicate through Binance's chat*: Avoid moving conversations to external platforms or sharing personal contact info.
7. *Double-check transaction details*: Ensure the amount, asset, and recipient's info are correct before confirming.
8. *Report suspicious users*: If you suspect a scammer, report them to Binance's support immediately.
Remember, always prioritize caution and follow these guidelines to minimize the risk of falling victim to scams in Binance P2P transactions.
#Safety
credits: Fatma_Queen
1. *Verify the user*: Check the user's verification level and reputation score. Higher levels and good reputation reduce the risk.
2. *Use Binance's escrow service*: Binance's escrow service holds funds until the transaction is complete, protecting you from fraud.
3. *Be cautious of unusually low prices*: If a deal seems too good to be true, it likely is.
4. *Don't share personal info*: Never share personal information, such as passwords or credit card details.
5. *Use secure payment methods*: Stick to payment methods supported by Binance, like credit cards or bank transfers.
6. *Communicate through Binance's chat*: Avoid moving conversations to external platforms or sharing personal contact info.
7. *Double-check transaction details*: Ensure the amount, asset, and recipient's info are correct before confirming.
8. *Report suspicious users*: If you suspect a scammer, report them to Binance's support immediately.
Remember, always prioritize caution and follow these guidelines to minimize the risk of falling victim to scams in Binance P2P transactions.
#Safety
credits: Fatma_Queen
🔺🔺P2P Scam: My bank account freezed🔺🔺
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety
After $PIXEL lauched today, I noticed several people saying that this token is a scam, that it was a rugpull and those sorts of things. In my vision, this token is not a scam nor a rugpull, but I'd say you should stay away from it as
few people can manipulate the price of this token heavily.
Rugpulls are common scams in the cryptowolrd, especially outside Binance. Many projects lures people with promises of ultra high and quick returns, a graphic that has basically only green candles (a HUGE red flag if you see one), as basically no one can sell their token. Over their Telegram group, if someone starts questioning too much, they get block and kicked because they were FUD (a common expression that denotes that someone is making a bad marketing about a project) the project and then, few days or even hours later, they empty the liquidity pool and everyone from the project just vanishes.
Over here, you should be relatively safe from those fake projects, as Binance has a strict procedure to list a coin or token. The problem starts when you want to get out, to increase your gains, get in touch with a number even greater of projects, and, therefore, scammers. How do you recognize one from the other? It isn't simple sometimes, I know, but following the steps I've mentioned here and in my other posts should help you a bit in your journey.
#Write2Earn
#TrendingTopic
#Safety
few people can manipulate the price of this token heavily.
Rugpulls are common scams in the cryptowolrd, especially outside Binance. Many projects lures people with promises of ultra high and quick returns, a graphic that has basically only green candles (a HUGE red flag if you see one), as basically no one can sell their token. Over their Telegram group, if someone starts questioning too much, they get block and kicked because they were FUD (a common expression that denotes that someone is making a bad marketing about a project) the project and then, few days or even hours later, they empty the liquidity pool and everyone from the project just vanishes.
Over here, you should be relatively safe from those fake projects, as Binance has a strict procedure to list a coin or token. The problem starts when you want to get out, to increase your gains, get in touch with a number even greater of projects, and, therefore, scammers. How do you recognize one from the other? It isn't simple sometimes, I know, but following the steps I've mentioned here and in my other posts should help you a bit in your journey.
#Write2Earn
#TrendingTopic
#Safety
🔺🔺P2P Scam: My bank account freezed🔺🔺
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety
(PS: That bank ac is still blocked 😢)
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety
(PS: That bank ac is still blocked 😢)
🚨 EXPOSING SCAMS: Real-Life Lessons from TokenMaestro - PART 1
The crypto world is buzzing with opportunities, but it's crucial to navigate safely. In this series, we delve into the deceptive realms of scams, shedding light on the tactics preying on unsuspecting investors. 🕵️♂️✨
Why This Series? Scams have cost people their savings, jobs, and careers. At TokenMaestro, we're on a mission to create awareness and empower you against these threats. Join us on this journey as we unravel the dark corners of the crypto space. Enjoy the ride! 🌐🚀
PART 1: Ponzi Schemes Unveiled
Last year, I fell victim to a Ponzi scheme, losing $200 in a crypto project promising daily returns. It started with zero dollars, and soon, I was withdrawing small amounts. The allure was undeniable – zero effort, minimal risk, and impressive returns.
👀 The Deceptive Rise: Witnessing crypto gurus claim massive profits fueled FOMO. People were earning, withdrawing, and the platform gained widespread popularity. Unrealistic promises lured in more participants, fueled by referral bonuses. Crypto influencers vouched for it, earning referral rewards instantly withdrawable to Binance.
💔 The Heartbreaking Fall: Suddenly, the website halted withdrawals, citing a "major upgrade." Panic set in as they vanished from social media. The dream was shattered, leaving investors stranded.
❌ Ponzi Schemes Unmasked: These fraudulent investment schemes promise high returns, funded by new investors rather than profit. Recognizing the signs and spreading awareness is our defense.
🤔 Your Thoughts Matter: Have you encountered similar scams? Share your experiences and insights in the comments. Let's build a vigilant community!
🔄 Stay Informed, Stay Safe: Like, share, and follow @MemeLauncher for more insights.
Together, let's fortify the crypto community against scams! 🌐🛡️ #CryptoAwareness #ScamProtection #scams #SafetyTips #Safety
The crypto world is buzzing with opportunities, but it's crucial to navigate safely. In this series, we delve into the deceptive realms of scams, shedding light on the tactics preying on unsuspecting investors. 🕵️♂️✨
Why This Series? Scams have cost people their savings, jobs, and careers. At TokenMaestro, we're on a mission to create awareness and empower you against these threats. Join us on this journey as we unravel the dark corners of the crypto space. Enjoy the ride! 🌐🚀
PART 1: Ponzi Schemes Unveiled
Last year, I fell victim to a Ponzi scheme, losing $200 in a crypto project promising daily returns. It started with zero dollars, and soon, I was withdrawing small amounts. The allure was undeniable – zero effort, minimal risk, and impressive returns.
👀 The Deceptive Rise: Witnessing crypto gurus claim massive profits fueled FOMO. People were earning, withdrawing, and the platform gained widespread popularity. Unrealistic promises lured in more participants, fueled by referral bonuses. Crypto influencers vouched for it, earning referral rewards instantly withdrawable to Binance.
💔 The Heartbreaking Fall: Suddenly, the website halted withdrawals, citing a "major upgrade." Panic set in as they vanished from social media. The dream was shattered, leaving investors stranded.
❌ Ponzi Schemes Unmasked: These fraudulent investment schemes promise high returns, funded by new investors rather than profit. Recognizing the signs and spreading awareness is our defense.
🤔 Your Thoughts Matter: Have you encountered similar scams? Share your experiences and insights in the comments. Let's build a vigilant community!
🔄 Stay Informed, Stay Safe: Like, share, and follow @MemeLauncher for more insights.
Together, let's fortify the crypto community against scams! 🌐🛡️ #CryptoAwareness #ScamProtection #scams #SafetyTips #Safety
Is Binance Trustworthy?
Thinking about using Binance for your crypto adventures? It's a popular platform, but trust is key! Here's a quick breakdown:
Pros:
Security: Binance boasts strong security features and a large user base, indicating some level of trust.
Low Fees: Competitive trading fees can save you money.
Variety: Offers a wide range of cryptocurrencies and features.
Cons:
Regulation: Binance has faced regulatory issues in some countries.
Complexity: The platform can be overwhelming for beginners.
No Built-in Wallet: You'll need a separate wallet to store your crypto.
Do your research! ️♀️
Before you dive in, consider these points and check out reviews from trusted sources.
#Cryptocurrency #Binance #Exchange #Safety
Thinking about using Binance for your crypto adventures? It's a popular platform, but trust is key! Here's a quick breakdown:
Pros:
Security: Binance boasts strong security features and a large user base, indicating some level of trust.
Low Fees: Competitive trading fees can save you money.
Variety: Offers a wide range of cryptocurrencies and features.
Cons:
Regulation: Binance has faced regulatory issues in some countries.
Complexity: The platform can be overwhelming for beginners.
No Built-in Wallet: You'll need a separate wallet to store your crypto.
Do your research! ️♀️
Before you dive in, consider these points and check out reviews from trusted sources.
#Cryptocurrency #Binance #Exchange #Safety
💔😢Scam Alert: Kevin McVie's $340,000 Heartbreak 😭💸
Meet Kevin McVie, a 74-year-old entrepreneur who, like many, believed his cryptocurrency investments were flourishing. Every login brought the illusion of windfall profits on his chosen trading platform. Little did he know, he was falling victim to the rising tide of cryptocurrency scams.
🌐 A Pandemic Pivot: McVie, whose business supplying restaurants in Los Angeles took a hit during lockdowns, turned to cryptocurrency investments to navigate the upheaval. However, the pandemic-induced turmoil also impacted his retirement savings as stock markets gyrated. A vulnerable moment that scammers seized upon.
🚀 The Allure of BitBit: Enter BitBit, an "international financial broker" based in London, promising to guide individuals through cryptocurrency investments. McVie, scrolling through Instagram, took the bait. Initially investing $500, he was lured in by Pavel, a company representative fluent in McVie's native Russian. They formed a seemingly genuine connection, discussing everything from vacations to family.
💸 The Betrayal Unfolds: What started as a promising venture turned sinister. The enticing platform displayed fake charts, creating the illusion that McVie's investment was doubling. Encouraged by Pavel, McVie invested his entire life savings – a staggering $340,000 – into BitBit. The moment of truth struck when he attempted a withdrawal.
🚨 Caught in the Web: BitBit demanded a "security measure" payment of 2%, supported by a forged document claiming to be from Barclays. The realization hit hard – McVie was ensnared in a web of deceit. By the time his family discovered the scam, it was too late. The $340,000 was gone.
🤔 Share Your Thoughts: Scams like these highlight the dark side of the crypto world. What precautions do you take to safeguard your investments? Share your thoughts in the comments below.
🔄 Raise Awareness, Stay Vigilant: Like, share, and follow @MemeLauncher to spread awareness and stay updated on crypto security tips.
🔒 #CryptoSafety #ScamAwareness #Scams #scam #Safety
Meet Kevin McVie, a 74-year-old entrepreneur who, like many, believed his cryptocurrency investments were flourishing. Every login brought the illusion of windfall profits on his chosen trading platform. Little did he know, he was falling victim to the rising tide of cryptocurrency scams.
🌐 A Pandemic Pivot: McVie, whose business supplying restaurants in Los Angeles took a hit during lockdowns, turned to cryptocurrency investments to navigate the upheaval. However, the pandemic-induced turmoil also impacted his retirement savings as stock markets gyrated. A vulnerable moment that scammers seized upon.
🚀 The Allure of BitBit: Enter BitBit, an "international financial broker" based in London, promising to guide individuals through cryptocurrency investments. McVie, scrolling through Instagram, took the bait. Initially investing $500, he was lured in by Pavel, a company representative fluent in McVie's native Russian. They formed a seemingly genuine connection, discussing everything from vacations to family.
💸 The Betrayal Unfolds: What started as a promising venture turned sinister. The enticing platform displayed fake charts, creating the illusion that McVie's investment was doubling. Encouraged by Pavel, McVie invested his entire life savings – a staggering $340,000 – into BitBit. The moment of truth struck when he attempted a withdrawal.
🚨 Caught in the Web: BitBit demanded a "security measure" payment of 2%, supported by a forged document claiming to be from Barclays. The realization hit hard – McVie was ensnared in a web of deceit. By the time his family discovered the scam, it was too late. The $340,000 was gone.
🤔 Share Your Thoughts: Scams like these highlight the dark side of the crypto world. What precautions do you take to safeguard your investments? Share your thoughts in the comments below.
🔄 Raise Awareness, Stay Vigilant: Like, share, and follow @MemeLauncher to spread awareness and stay updated on crypto security tips.
🔒 #CryptoSafety #ScamAwareness #Scams #scam #Safety
🚨What are your thoughts on blockchain security?🔒🔑 Let's see how do you keep your funds SAFE... #SAFU🙏 #Safety #airdropking #Funds $BTC
👉👉👉 70% of Crypto Asset-Related Communications Violate Rules: FINRA
The U.S. Financial Industry Regulatory Authority (FINRA) revealed that around 70% of crypto asset-related communications examined in a recent targeted exam did not comply with its rules.
In a recent FINRA report, it was disclosed that the examination, initiated in November 2022, involved a comprehensive review of over 500 retail communications distributed or made available by FINRA member firms concerning crypto assets.
The primary focus was on assessing these communications against FINRA Rule 2210, which mandates that broker-dealer communications with the public must offer a sound basis for evaluating the facts about any discussed product or service, while also prohibiting exaggerated, unwarranted, or misleading claims.
The report stated, "FINRA identified potential substantive violations of FINRA Rule 2210 in approximately 70 percent of the communications."
Inconsistent communication practices were a significant concern, particularly the failure to clearly differentiate between crypto assets offered through third-party affiliates and those directly offered by member firms. This lack of clarity raised the potential for investor confusion about the nature of the products and services being offered.
FINRA also observed instances where crypto assets were inaccurately portrayed, with some communications comparing them to cash or cash-equivalent instruments without a sound basis for such comparisons. Additionally, explanations about how crypto assets function, including their core features and risks, were found to be either unclear or misleading.
FINRA has issued guidance addressing concerns about misleading communication related to crypto assets by financial firms. The guidance urges firms to ensure a fair and balanced presentation in crypto-related communications, particularly regarding the #Safety and #liquidity of crypto assets. The aim is to promote transparency and compliance in the dynamic world of crypto.
Source - Cryptonews.com
#CryptoNews #BinanceSquare
The U.S. Financial Industry Regulatory Authority (FINRA) revealed that around 70% of crypto asset-related communications examined in a recent targeted exam did not comply with its rules.
In a recent FINRA report, it was disclosed that the examination, initiated in November 2022, involved a comprehensive review of over 500 retail communications distributed or made available by FINRA member firms concerning crypto assets.
The primary focus was on assessing these communications against FINRA Rule 2210, which mandates that broker-dealer communications with the public must offer a sound basis for evaluating the facts about any discussed product or service, while also prohibiting exaggerated, unwarranted, or misleading claims.
The report stated, "FINRA identified potential substantive violations of FINRA Rule 2210 in approximately 70 percent of the communications."
Inconsistent communication practices were a significant concern, particularly the failure to clearly differentiate between crypto assets offered through third-party affiliates and those directly offered by member firms. This lack of clarity raised the potential for investor confusion about the nature of the products and services being offered.
FINRA also observed instances where crypto assets were inaccurately portrayed, with some communications comparing them to cash or cash-equivalent instruments without a sound basis for such comparisons. Additionally, explanations about how crypto assets function, including their core features and risks, were found to be either unclear or misleading.
FINRA has issued guidance addressing concerns about misleading communication related to crypto assets by financial firms. The guidance urges firms to ensure a fair and balanced presentation in crypto-related communications, particularly regarding the #Safety and #liquidity of crypto assets. The aim is to promote transparency and compliance in the dynamic world of crypto.
Source - Cryptonews.com
#CryptoNews #BinanceSquare
*P2P Scam Alert! 🚨*
Hey readers, today I want to share a cautionary tale of how my bank account got frozen due to a P2P scam! ❄️
In February, I tried to make a UPI payment, but it failed repeatedly. When I contacted my bank, they informed me that my account had been frozen due to "non-legal funds"! 😱
It turned out that someone I had transacted with on P2P had committed fraud, and every account they had interacted with was blocked! 🚫
*Lesson Learned:* Never transact with anyone having less than 50% trades and less than 95% completion rate! 📊 And always pay to the same bank account holder name as the name in your Binance account! 📝
*Still Suffering:* That bank account is still blocked to this day! 😢
Let's stay vigilant and protect our funds! 💰
#ScamRiskWarning #Safety #StayVigilant
#bitcoin
Hey readers, today I want to share a cautionary tale of how my bank account got frozen due to a P2P scam! ❄️
In February, I tried to make a UPI payment, but it failed repeatedly. When I contacted my bank, they informed me that my account had been frozen due to "non-legal funds"! 😱
It turned out that someone I had transacted with on P2P had committed fraud, and every account they had interacted with was blocked! 🚫
*Lesson Learned:* Never transact with anyone having less than 50% trades and less than 95% completion rate! 📊 And always pay to the same bank account holder name as the name in your Binance account! 📝
*Still Suffering:* That bank account is still blocked to this day! 😢
Let's stay vigilant and protect our funds! 💰
#ScamRiskWarning #Safety #StayVigilant
#bitcoin
What Are The Best Ways to Store Your Cryptocurrencies Safely.
There are many ways to store cryptocurrencies safely, but the best way for you will depend on your individual needs and risk tolerance.
▪︎Hot wallets are software wallets that are connected to the internet. They are convenient and easy to use, but they are also the least secure type of wallet. Hot wallets are susceptible to hacking and malware attacks.
▪︎Cold wallets are hardware wallets that are not connected to the internet. They are more secure than hot wallets, but they can be less convenient to use. Cold wallets require you to physically connect the wallet to your computer or mobile device in order to access your crypto.
▪︎Paper wallets are offline wallets that consist of a pair of public and private keys printed on a piece of paper. Paper wallets are very secure, but they can be difficult to use and easy to lose.
▪︎Exchange wallets are wallets that are provided by cryptocurrency exchanges. Exchange wallets are convenient, but they are also the least secure type of wallet.
Here are some tips for storing your cryptocurrencies safely:
• Use a strong password and enable two-factor authentication on all of your cryptocurrency wallets.
• Store your private keys in a safe and secure location, such as a hardware wallet or a paper wallet.
• Never share your private keys with anyone.
• Be careful about phishing scams and other scams that target cryptocurrency users.
• Consider using a multi-signature wallet, which requires multiple users to sign off on transactions.
If you are storing a significant amount of cryptocurrency, it is important to take steps to secure your funds. A hardware wallet is the best way to store your crypto offline and securely.
Here are some of the best hardware wallets on the market:
• Ledger Nano
• STrezor Model T
• KeepKey
• Coldcard
• Ellipal Titan
These wallets are all highly secure and offer a variety of features, such as support for multiple cryptocurrencies, two-factor authentication, and PIN protection.
#Wallet #Safety
There are many ways to store cryptocurrencies safely, but the best way for you will depend on your individual needs and risk tolerance.
▪︎Hot wallets are software wallets that are connected to the internet. They are convenient and easy to use, but they are also the least secure type of wallet. Hot wallets are susceptible to hacking and malware attacks.
▪︎Cold wallets are hardware wallets that are not connected to the internet. They are more secure than hot wallets, but they can be less convenient to use. Cold wallets require you to physically connect the wallet to your computer or mobile device in order to access your crypto.
▪︎Paper wallets are offline wallets that consist of a pair of public and private keys printed on a piece of paper. Paper wallets are very secure, but they can be difficult to use and easy to lose.
▪︎Exchange wallets are wallets that are provided by cryptocurrency exchanges. Exchange wallets are convenient, but they are also the least secure type of wallet.
Here are some tips for storing your cryptocurrencies safely:
• Use a strong password and enable two-factor authentication on all of your cryptocurrency wallets.
• Store your private keys in a safe and secure location, such as a hardware wallet or a paper wallet.
• Never share your private keys with anyone.
• Be careful about phishing scams and other scams that target cryptocurrency users.
• Consider using a multi-signature wallet, which requires multiple users to sign off on transactions.
If you are storing a significant amount of cryptocurrency, it is important to take steps to secure your funds. A hardware wallet is the best way to store your crypto offline and securely.
Here are some of the best hardware wallets on the market:
• Ledger Nano
• STrezor Model T
• KeepKey
• Coldcard
• Ellipal Titan
These wallets are all highly secure and offer a variety of features, such as support for multiple cryptocurrencies, two-factor authentication, and PIN protection.
#Wallet #Safety
Don't Get Scammed: Ponzi Schemes in Cryptocurrency
Cryptocurrency, with its exciting potential and decentralized nature, can also be a breeding ground for scams. A particularly deceptive one is the Ponzi scheme.
What is a Ponzi Scheme?
A Ponzi scheme is a deceitful investment operation that pays returns to investors using funds contributed by new investors, not actual profits. It creates an illusion of a lucrative venture by funneling new deposits to pay promised returns to earlier investors. This unsustainable cycle continues as long as the scheme can attract a steady stream of new participants. However, the moment the flow of new investors dries up, the entire scheme crumbles, leaving most investors with significant financial losses.
Historical Example: OneCoin's Demise
OneCoin, launched in 2014, serves as a cautionary tale of a cryptocurrency-based Ponzi scheme. It enticed investors with promises of astronomical returns on their investments in a proprietary cryptocurrency, OneCoin. This cryptocurrency, however, lacked any real-world application and couldn't be independently traded on legitimate exchanges. Despite these red flags, OneCoin managed to amass billions of dollars from unsuspecting investors before its inevitable collapse in 2019. The scheme's founders now face fraud charges, highlighting the severe consequences of such deceitful operations.
Shielding Yourself from Ponzi Schemes
Staying vigilant and informed can significantly reduce your risk of falling prey to Ponzi schemes. Here are some key strategies to employ:
Scrutinize Promises of Outrageous Returns: If an investment opportunity boasts guaranteed high returns with minimal risk, it's a massive red flag. Legitimate investments involve inherent risks, and returns are rarely guaranteed. Approach any offer promising unrealistic gains with extreme skepticism.Investigate Before You Invest:Don't blindly jump into any cryptocurrency investment. Conduct thorough research on the specific cryptocurrency and the company behind it. Look for potential warning signs such as a lack of transparency about the project's workings or an overly complex business model that's difficult to understand.Beware of High-Pressure Sales Tactics: Legitimate investment opportunities won't resort to aggressive sales tactics or pressure you into making a hasty decision. Be wary of schemes that create a sense of urgency or exclusivity to push you towards investing before you have a chance to properly evaluate the opportunity.Invest Cautiously: The cryptocurrency market is inherently volatile. Always invest only what you can afford to lose entirely. Don't risk your financial security by pouring your life savings into an uncertain investment.
Discussion Question:
Can increased regulation effectively safeguard against Ponzi schemes in the cryptocurrency market?🤔
Share your thoughts! Is stricter regulation the answer, or could it stifle innovation within the cryptocurrency space? Let's discuss the potential benefits and drawbacks of increased regulation in the fight against cryptocurrency scams.
#scammeralert #Safety #HotTrands #2024
What is a Ponzi Scheme?
A Ponzi scheme is a deceitful investment operation that pays returns to investors using funds contributed by new investors, not actual profits. It creates an illusion of a lucrative venture by funneling new deposits to pay promised returns to earlier investors. This unsustainable cycle continues as long as the scheme can attract a steady stream of new participants. However, the moment the flow of new investors dries up, the entire scheme crumbles, leaving most investors with significant financial losses.
Historical Example: OneCoin's Demise
OneCoin, launched in 2014, serves as a cautionary tale of a cryptocurrency-based Ponzi scheme. It enticed investors with promises of astronomical returns on their investments in a proprietary cryptocurrency, OneCoin. This cryptocurrency, however, lacked any real-world application and couldn't be independently traded on legitimate exchanges. Despite these red flags, OneCoin managed to amass billions of dollars from unsuspecting investors before its inevitable collapse in 2019. The scheme's founders now face fraud charges, highlighting the severe consequences of such deceitful operations.
Shielding Yourself from Ponzi Schemes
Staying vigilant and informed can significantly reduce your risk of falling prey to Ponzi schemes. Here are some key strategies to employ:
Scrutinize Promises of Outrageous Returns: If an investment opportunity boasts guaranteed high returns with minimal risk, it's a massive red flag. Legitimate investments involve inherent risks, and returns are rarely guaranteed. Approach any offer promising unrealistic gains with extreme skepticism.Investigate Before You Invest:Don't blindly jump into any cryptocurrency investment. Conduct thorough research on the specific cryptocurrency and the company behind it. Look for potential warning signs such as a lack of transparency about the project's workings or an overly complex business model that's difficult to understand.Beware of High-Pressure Sales Tactics: Legitimate investment opportunities won't resort to aggressive sales tactics or pressure you into making a hasty decision. Be wary of schemes that create a sense of urgency or exclusivity to push you towards investing before you have a chance to properly evaluate the opportunity.Invest Cautiously: The cryptocurrency market is inherently volatile. Always invest only what you can afford to lose entirely. Don't risk your financial security by pouring your life savings into an uncertain investment.
Discussion Question:
Can increased regulation effectively safeguard against Ponzi schemes in the cryptocurrency market?🤔
Share your thoughts! Is stricter regulation the answer, or could it stifle innovation within the cryptocurrency space? Let's discuss the potential benefits and drawbacks of increased regulation in the fight against cryptocurrency scams.
#scammeralert #Safety #HotTrands #2024
🔺🔺P2P Scam: My bank account freezed🔺🔺
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety
(PS: That bank ac is still blocked 😢)
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety
(PS: That bank ac is still blocked 😢)
🔺🔺P2P Scam: My bank account freezed🔺🔺
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety
(PS: That bank ac is still blocked 😢)
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety
(PS: That bank ac is still blocked 😢)
$P2P Scam: My bank account freezed
Hi readers
today i would tell you how my Bank account got freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through PI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety #ETH #BTC #Pyth $BTC
Hi readers
today i would tell you how my Bank account got freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through PI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety #ETH #BTC #Pyth $BTC
As some of you may have or will have a wallet outside Binace, let me share some more tips so you can be safe out there:
- DO NOT SHARE YOUR SEED PHRASE with anyone. This is normally 12 words that works as password of your wallet. If someone knows it, it has total access to your wallet and may transfer funds to any other wallter
- DO NOT STORE YOUR SEED PHRASE IN A DIGITAL DEVICE. I would recommend you to write it down on a piece of paper and keep it somewhere safe, like in a locker, as if someone has access to your computer or smartphone that also has a copy of your file containing the Seed phrase, you would be in trouble.
- AVOID SHARING YOUR WALLET ADDRESS. This may attract unwanted attention to it and some devoted hacker may take it personally.
- AVOID CONNECTING YOUR WALLET ON SUPSICIOUS WEBSITES. Even though you are only authorizing a connection so the website can see your balance in a certain coin, this website can be infected and may transfer any other coin to another wallet and when you noticed, they'll be long gone.
- THERE ARE SEVERAL NETWORKS OUT THERE. You should do your own research, look for the one that suits your needs better and get the proper wallet thar works with this network. Still, there will be scammers everywhere
- MOST COINS OUT THERE ARE SCAMS OR ARE DEAD. Here in Binance, you have a team of people working for you trying to separate the best coins out there from the not so goods ones. But if you are trying to get this coin before they are listed here, the only option is to get out of here and try to find and buy then before they get listed.
- DO YOUR OWN RESEARCH. Not only regarding the coin itself, if you should buy it or not, but also because you will find many coins that have nearly the same name of the one you are currently buying, so be extra careful with those as they are fraudulent. Be sure about the contract address you are interacting with, if it was obtained from CoinGecko or somewhere reliable, as if you interact with the wrong address, then your $BNBs or any other coin are gone forever.
#Write2Earn
#Tips
#Safety
- DO NOT SHARE YOUR SEED PHRASE with anyone. This is normally 12 words that works as password of your wallet. If someone knows it, it has total access to your wallet and may transfer funds to any other wallter
- DO NOT STORE YOUR SEED PHRASE IN A DIGITAL DEVICE. I would recommend you to write it down on a piece of paper and keep it somewhere safe, like in a locker, as if someone has access to your computer or smartphone that also has a copy of your file containing the Seed phrase, you would be in trouble.
- AVOID SHARING YOUR WALLET ADDRESS. This may attract unwanted attention to it and some devoted hacker may take it personally.
- AVOID CONNECTING YOUR WALLET ON SUPSICIOUS WEBSITES. Even though you are only authorizing a connection so the website can see your balance in a certain coin, this website can be infected and may transfer any other coin to another wallet and when you noticed, they'll be long gone.
- THERE ARE SEVERAL NETWORKS OUT THERE. You should do your own research, look for the one that suits your needs better and get the proper wallet thar works with this network. Still, there will be scammers everywhere
- MOST COINS OUT THERE ARE SCAMS OR ARE DEAD. Here in Binance, you have a team of people working for you trying to separate the best coins out there from the not so goods ones. But if you are trying to get this coin before they are listed here, the only option is to get out of here and try to find and buy then before they get listed.
- DO YOUR OWN RESEARCH. Not only regarding the coin itself, if you should buy it or not, but also because you will find many coins that have nearly the same name of the one you are currently buying, so be extra careful with those as they are fraudulent. Be sure about the contract address you are interacting with, if it was obtained from CoinGecko or somewhere reliable, as if you interact with the wrong address, then your $BNBs or any other coin are gone forever.
#Write2Earn
#Tips
#Safety
During the last bullrun, there were several projects focused on GameFi tokens that skyrocketed. The most famous one was surely $AXS , with phenomenal gains and made some people quit their jobs to play Axie. That was a nice way to earn some money back then, but it didn't last enough time for most people to actually earn enough money, so they didn't need to work anymore. But those that entered early in the game did earn some money.
What I'm trying to say here is: we're at the very beginning of the next bullrun and many people are talking about AI tokens like $WLD or $AI . If they are good investment or not is up to you to do your own research and find out, but keep in mind two things: AXS and several other projects that followed the success of this token that were nothing but scam, like CCAR and many others.
Therefore, do not blindly buy any token just because it's an "AI token", especially if you're outside Binance. It may be a scam (rugpull, honeypot, wallet drain, or some other) that will steal all your money in the worst-case scenario.
Remember to take preemptive measures to safeguard your Binance account, which I've already posted. You shouldn't have problems with scam projects here, but scammers are everywhere nowadays.
#Write2Earn
#Safety
#Tips
What I'm trying to say here is: we're at the very beginning of the next bullrun and many people are talking about AI tokens like $WLD or $AI . If they are good investment or not is up to you to do your own research and find out, but keep in mind two things: AXS and several other projects that followed the success of this token that were nothing but scam, like CCAR and many others.
Therefore, do not blindly buy any token just because it's an "AI token", especially if you're outside Binance. It may be a scam (rugpull, honeypot, wallet drain, or some other) that will steal all your money in the worst-case scenario.
Remember to take preemptive measures to safeguard your Binance account, which I've already posted. You shouldn't have problems with scam projects here, but scammers are everywhere nowadays.
#Write2Earn
#Safety
#Tips
Another tip for those who are in their first bullmarket and a reminder for everyone else:
- DO NOT SHARE your Binance password with anyone. Even though this seems obvious for everyone, let's say you may be facing an issue in your account and decide to seek help on some Telegram group ou somewhere else on the internet. Some scammers disguised as "support", "tech assistant", "helper" or anything similar may come in touch with you and ask for your password as a way to solve your problem. Obviously, they will only not solve your problem but also steal all your cryptos.
- HAVE A 2 FACTOR AUTHENTICATION, either Google Authenticator, mobile text message, e-mail or all of them to login in your Binance account. This will make things a lot more difficult for someone that may have your password to steal your cryptos.
- HAVE A ADDRESS WHITELIST to withdraw funds from your Binance account. Even if you don't have a wallet outside Binance, you should use this feature, as if someone tries to send any token from your account to someone else's, he or she will have to add all the separated authenticators you previously added to your account. This may come in handy in case you lost your smartphone that has your Binance account logged in.
- ENABLE NOTIFICATIONS. If everything else fails, at least you'll get a notification that someone logged into your account or thar "you" sent some funds and can try to make something before it gets worse.
Remember, there's no way to defeat all those scammers, but we can always be ahead of them by learning their most common scams and be prepared for them. Share this post so more people can learn those tips and avoid losing their hard earned $BTC to some criminal.
#Write2Earn
#Safety
#Tips
- DO NOT SHARE your Binance password with anyone. Even though this seems obvious for everyone, let's say you may be facing an issue in your account and decide to seek help on some Telegram group ou somewhere else on the internet. Some scammers disguised as "support", "tech assistant", "helper" or anything similar may come in touch with you and ask for your password as a way to solve your problem. Obviously, they will only not solve your problem but also steal all your cryptos.
- HAVE A 2 FACTOR AUTHENTICATION, either Google Authenticator, mobile text message, e-mail or all of them to login in your Binance account. This will make things a lot more difficult for someone that may have your password to steal your cryptos.
- HAVE A ADDRESS WHITELIST to withdraw funds from your Binance account. Even if you don't have a wallet outside Binance, you should use this feature, as if someone tries to send any token from your account to someone else's, he or she will have to add all the separated authenticators you previously added to your account. This may come in handy in case you lost your smartphone that has your Binance account logged in.
- ENABLE NOTIFICATIONS. If everything else fails, at least you'll get a notification that someone logged into your account or thar "you" sent some funds and can try to make something before it gets worse.
Remember, there's no way to defeat all those scammers, but we can always be ahead of them by learning their most common scams and be prepared for them. Share this post so more people can learn those tips and avoid losing their hard earned $BTC to some criminal.
#Write2Earn
#Safety
#Tips
🔺🔺P2P Scam: My bank account freezed🔺🔺
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety
(PS: That bank ac is still blocked 😢)
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety
(PS: That bank ac is still blocked 😢)
🔺🔺P2P Scam: My bank account freezed🔺🔺
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety $SOL
(PS: That bank ac is still blocked 😢)
Hi readers
today i would tell you how my Bank account got
freeze and How can u avoid it and safeguard your funds
So actually in Feb this year I was casually eating something and tried to pay through UPI but got error i took it normally then tried again but to no avail Sensing something wrong I contacted with my bank and they informed me that they have recieved orders to freeze my bank account due to non legal funds.
Then i got to know that somebody Who has paid me on P2P commited fraud and every account he transacted with was blocked
So never ever transact with anyone having less then 50% trades and less then 95% completion rate
And always pay on the same bank A/C holder name as name in binance account
#P2PScam #Safety $SOL
(PS: That bank ac is still blocked 😢)