The total number of active crypto users today has ballooned recently, numbering at just over100 Million. Out of this number, at least 14 million joined the crypto game in 2021 itself. These users are newcomers who are not that well-acquainted with the unfamiliar landscape. That is why they fall easy prey to scammers and fraudsters. In 2020,$1.9 Billionworth of crypto assets were stolen via scams and frauds. Here are some tips that will keep you safe.
Look Out For Fake Giveaways
One of the easiest ways to fool unsuspecting newcomers is to phish them. Fake giveaways are a favourite of scammers, ever since cryptocurrency was first released. Scammers pretend to be some well-known celebrity and ask users to send them crypto. They promise that they’ll return the money back to the sender. Once the user does so, the social media accounts are deleted and trashed as soon as possible
Keep an Eye Out For Crypto Trading Bots
Crypto trading bot scams are also very commonplace, where crypto trading platforms crop up that offer very high rates of return. In reality, this is nothing but a Ponzi scheme that is designed to cheat users out of their money. For example, the Bitconnect platform’s token even debuted at a Top 10 position until it was discovered that they are a scam.
Don’t Make Digital Copies: Use VPN
Remember never to make digital copies of your crypto passwords and credentials. If a hacker gains access to your device, they will be able to access your crypto wallet as well. Make sure that you have antivirus and VPN software downloaded. A reliable and well-known VPN like diebestenvpn will keep all of your crypto information safe from hackers and thieves.
Set Up 2-Factor Authentication All the Time
No matter what wallet you use, you should set up and activate 2-factor authentication on your device. This security measure will require you to enter your password as well as an “one time password” or OTP every time you try to login or transfer funds. Google has an authenticator app that you can download to handle all of your 2FA needs with crypto.
Try to remember and follow these tips consciously when you make your foray into the world of crypto. By being vigilant and sensible, you’ll be able to save yourself a lot of money. You should also remember to do your due diligence before you go ahead with any investments.