How to identify fake cryptocurrency? Fake Cryptocurrency has become the biggest threat to cryptocurrencies because it’s easy to get fooled and spend your hard earned money on them. In order to protect your investment, you need to know how to identify fake cryptocurrency so that you don’t fall victim to it in the future and lose all your hard-earned money.
In this guide, I will tell you how to identify fake cryptocurrency as well.as some methods you can use to avoid getting scammed by fake cryptocurrency in the future.
How to identify crypto fraud
How to identify fake cryptocurrency? cryptocurrency scammer list. The cryptocurrency community is a small one that doesn’t like someone trying to scam them out of their hard-earned money. How do you know your social media followers or other investors are really after your money?
Well, here’s how to spot and avoid cryptocurrency scams in general.
1) They ask for an upfront payment:
Never pay money up front for anything related to crypto trading, mining or investing. It’s almost always a scam, so you need to know about how to identify fake cryptocurrency.
2) They are not on a recognized exchange:
You should never buy cryptocurrency directly from someone who is not on an exchange like Coinbase or Kraken (or even Binance).
3) They have no escrow system:
Never send cash via Western Union (or similar service), gift cards, etc., for crypto purchases—it’s likely that these payments will never reach their intended destination.
4) They claim they can double your coins:
This is just another way of saying they’ll steal your coins.
5) Their website looks like it was made by a kid:
if they can’t afford a web designer, they can’t even afford to hire developers.
6) Their website contains typos or grammatical errors:
If they don’t care enough about their product to hire someone to proofread their site, then why would you trust them with your money?
7) There’s no contact information listed on their site:
Always make sure there’s at least an email address so you can get in touch with customer support if something goes wrong.
8) They use celebrity endorsements without permission:
Remember when Jamie Foxx tweeted about OneCoin last year? He later claimed he didn’t realize he was endorsing a crypto scam. Don’t be famous for being stupid; Check with celebrities before retweeting or posting about their crypto endorsement deals.
9) They promise to triple your investment in 90 days:
Another common trick used by scammers; if it seems too good to be true, it probably is.
10) Their team consists of anonymous members:
Any legitimate business will list their team members along with photos and bios on their website.
11) They guarantee returns:
No one can predict what cryptocurrencies will do over time, so don’t believe anyone who says otherwise.
12) Your gut tells you something’s fishy:
Listen to that little voice inside you; if something feels off, then more than likely it is off!
Scammers use heavy numbers to add legitimacy
When looking for cryptocurrency scams, you’ll sometimes see a combination of misspellings and grammatical errors that may make a bit of sense. Other times, though, scammers will use aliases or brands in place of names to try and add some legitimacy.
For example, if someone sees US Gov’t listed on a cryptocurrency scammer list, they may assume that it’s real because it seems like an official name. This can be extremely confusing if you aren’t familiar with what certain terms mean in relation to cryptocurrencies; so always double-check any information presented as official before sharing personal details with others.
There are many ways to do so, but one simple method is to look up fake crypto list online and see which names appear more than once—that way you know who is likely fake.
Then do your own research! In addition, don’t trust people just because they have big social media accounts. The world is full of people with fake followers who pay for them (and get caught all the time). Always look at their old posts and tweets before taking them seriously.
But when searching out fake cryptocurrency listing, we should remember not all companies are created equal. Some are legitimate while others are less than desirable or even harmful!
Rising cryptocurrencies come with a huge following
More and more people are starting to invest in cryptocurrencies, which means they are more vulnerable to scams.
A common scam involves fake directory apps and websites pretending to be legit and popular exchanges. While some cryptocurrencies like bitcoin vs bitcoin cashhave existed for years now, there’s a huge wave of new ones coming out at a rapid pace how to identify fake cryptocurrency – right now there are over 1000 of them on CoinMarketCap – which is why new investors could get easily confused.
The reality is that many of these new cryptocurrencies are scams and if you decide to invest into them blindly without doing your due diligence, you will end up losing all your money.
In order for you not to fall into that trap we’re here with few tips on how to identify fake cryptocurrency so it never happens again! Here’s what you need to know: If a coin or exchange has an app that hasn’t been approved by Apple or Google Play Store yet, it’s most likely fake.
Fake apps often appear as reputable brands like Binance, but they are just fake sites used by scammers to steal your data. Even when an app has been approved by both stores it doesn’t mean that it’s safe since sometimes those fake apps are uploaded under different names by different developers but with identical graphics and UI as real apps, you should know about how to identify fake cryptocurrency?
You should always double check to make sure that you’re using a legit version of an app by looking at its reviews and ratings before downloading it. Another thing worth mentioning is that fake sites often use URLs similar to their legit counterparts, which makes them hard to distinguish from one another.
That’s why you should always check whether a site uses HTTPS protocol (the green lock icon) before entering personal information such as login credentials or credit card details.
For example, if you want to log into your Coinbase account but instead find yourself on Coinbase-fake dot com then something isn’t right.
This is also true when visiting forums dedicated to specific parts, always check if the links lead to where they say they do!
Hi! I'm Amruta, a freelancer blogger at https://www.infinitytreasureweb.com/. I love to lend my knowledge about SEO, digital marketing, business, and technology. While not working I love to cook food and enjoy that meal with my family. I also love to travel.