🚨How to Avoid Social Media Fake Crypto Scams 😥
The internet is a wild place, and cryptocurrency only further stirred the pot of confusion. Tons of scams are easy to fall victim to, no matter how advanced you are in navigating crypto and the internet.
Is it even possible to avoid these fake crypto social media scams⁉️
If you’re interested in learning more about how to avoid social media fake crypto scams, you’ve come to the right place. Read on as we dive into the various types of scams, what to look for, how to defend yourself from the scams, what to do if you make a mistake, and more. It’s critical to remain safe as you search the internet and use cryptocurrency.
Understand Types of Scams
First, it’s ideal to understand the types of scams you will face. There isn’t just a one size fits all for this trickery - hackers and those with evil intentions will use several methods to get you to fall for their crypto scams. The more you know about them, the better off you will be.
Here are a 7 common crypto scams:
🔹️Fake website: Scammers might create a fake crypto website to gather personal information and data.
🔹️Phishing scams: Phishing scammers will go after private information related to the e wallet.
🔹️Pump and dump schemes: Here, fraudsters will inflate a coin on social media, sell all their holdings, then watch as the value crashes.
🔹️Fake celebrity endorsements: Scammers may use the face or name of a celebrity to boost a scam.
🔹️Fake apps: Individuals may create fake apps that victims download on their phones.
🔹️ Blackmail and extortion: Some scammers get aggressive and claim exposure of private information unless the owner follows their rules.
🔹️ Giveaway scams: Scammers might promise to match the investor, which they do not.
Familiarize yourself with these scams and memorize the general tendencies of each item. The more you know them, the easier it will be to avoid finding yourself deep in a troubling crypto lie.
