How to Identify Cryptocurrency Scams

[mattsett 120]

I usually research more about the team behind the coin, usually the coin that has a team that shows the face is usually not blows, the white paper also helps to have a good idea

[DollarDuck 106]

When one claims something so major that they are going to make super rich by joining them, you should know that it is not real.

I am saying the same thing for uniswap as well but people are not believing me right now, there are people who think each of that worths 400 dollars and they are going to have tens of thousands of dollars just because they joined, and some even managed to cash out as well somehow which I congratulate them for but the reality is when it is not locked and when it is exchanged to cash you are going to see that it worths nothing, nobody in the world would give you tens of thousands of dollars for free, why would they do that? What is it in it for them? This is why scum projects are fake obviously if you look at the amount they claim to give.

[gotitgotitgotit1 11]

Most of the airdrops and coins are created just to fool some investors and get their money, then disappear. I recommend you using good media resources to know which company you can trust your money and time.

[Olayadario 20]

I believe that in terms of air drops there are many scams, you realize that when they begin to ask you to deposit an amount to be able to collect the reward, I think that you have to take into account the exchanges in which the currencies and the alliances with recognized exchanges.

[jacksonj 68]

The basis of everything before entering a market, niche, sector or the place where we are going to operate, is to investigate and study everything related to that world, both the good and the bad so as not to have a bad time because of delusions or dupes; In this new world of cryptocurrencies where each one of them represents a value, it draws the attention of many actors in society, among them the protagonists of the crime who simply use the modus operandis and techniques that already exist (old or new) and They adapt them to this new system, so if we are a little meticulous, attentive, we can realize when a project is not serious or comes with dark intentions, some examples of these cases being companies that offer a service, contracts or investment opportunity , and its shareholders or creators do not have a proven track record or recognized financial strength, in addition to offering absurd packages or investments such as 100 percent returns on investment to name a few, also in the security part at the software level it is due Investing, prevention is vital to protect our assets and acquiring antivirus security equipment is not an expense, it is an investment and above all, educate yourself on what e is the most important asset for the most, if you master what you have the least chance of being a victim of a scam by someone else.

[Naylor89 1223]

Different people use different strategies. Like I always check for reviews in several forums and platforms but this is really hard to identify them. with the rapid advancement of science and technology, the means of fraud is becoming more sophisticated. I do a lot of research before investing, and invest carefully and carefully.

[CarlosVlz 92]

In my not so long experience with cryptocurrencies, one of the first signs of Scam is something too good to be true, for example that for making a bot in telegram and adding 10 people gives you 0.25 BTC, another very easy one is when the Platforms that will bring a cryptocurrency to the market will ask you for a deposit to give you a gift in its supposed cryptocurrency that will go on sale.

[Clargee 35]

The other party proposal stating is far from reality with percentages it is anindication of a scam,  something it's look good but at end is not.

[yuriblanco 27]

On 10/25/2019 at 5:37 PM, dextrolker said:

How do people usually see if something in this cryptocurrencies world is a scam? Emails, websites, products, icos, etc... what is your way of protecting yourself from these scams?

From the increase in transactions of bitcoin and other assets, there was also a strong increase in those who take advantage of newbies and scam them, to avoid possible fraud can be prevented in the following way:
• Store as little bitcoins as possible in hot wallets. Cold wallets such as paper purses or hardware wallets are a very good option to add a double layer of protection against unwanted withdrawals.
• Encrypt all the wallets that you have in your Bitcoin wallet. When trying to make a withdrawal, the attacker will have it much more difficult to make any bitcoin withdrawal from your wallet.
• Check the versions of the wallets downloaded and their signatures. Developers usually post all updates along with instructions for verifying version signatures.
• Avoid downloading suspicious content from emails with spoofed domains that emulate Bitcoin-related portals.
• Consult in portals as virustotal the integrity of the downloaded files.

[ahmedsharaawy 4]

عليك التركيز ومتابعة الصفحة بشكل دوري حتى لا تقع في عملية احتيال

[Gabomg 54]

When in their projects and in their launches they offer things that are far from any reality, most of them are scams, you have to be very careful

[Humberto77 10]

In the cryptocurrency world, many have woken up the dream of becoming rich overnight without any effort. This hope has been taken advantage of in different ways by unscrupulous people to scam people, especially the most novices who venture into this world of cryptocurrencies.
Using pyramid ponzi schemes, fake wallet or exchange services, supposed coin gifts on social networks, phishing, identity theft, among others. Several of these modalities share certain common features, although their implementation may vary, for example a clear signal to recognize an eminent scam is when they tell you that the return on investment is practically immediate and that there is no risk of loss, that without it certainly is a scam. In any type of investment, the returns are proportional to the risks.

[nakagil 35]

I think that when there are sites that offer very voluminous profits in such a short time and that give away electronic coins without investing, they are scammers, you have to investigate a lot, because there are coins that are scams and if you do not investigate and trust quickly you fall for the scam, apart from that When you have the knowledge about electronic currencies and you are already getting to know the market, you begin to recognize in which project to invest and once you see your earnings in real time, you stay with that project.

[ReyFG 65]

From my own experience, what to do a little research on some of the cryptocurrencies that are on the network, how recognized it is and see the opinions of other users. There are people who ask you to send personal data, bank details, among other data that may be sensitive, they are insistent and ask you for money and tell you that you recover profits in record time. It has worked a lot for me and I have avoided being scammed.

[DollarDuck 106]

Unrealistic goals
     
       If the project does have that potential, professional developers will never make such promises. They will let you know about the potential of their project and that’s it. No serious team will ever make a price prediction about their token or claim it can fix the world.

 

Buzzword salad

 

      “Our decentralized blockchain-based platform will disrupt the landscape of cryptocurrency investment while building a trustless network of pseudonymous users that leverage swarm intelligence technology to provide real world financial services in a tokenized ecosystem.”

       Some people may have a tendency to use buzzwords as a means to turn a boring text or announcement into something exciting. However, these will have a certain amount of information on it, even if you have to filter out some of the nonsense. Still, if a project needs to do this, then the project is likely to be as boring as watching paint dry.

 

Whitepaper
   
         Whitepapers usually explain how the platform works both on the high-level and specifically. This often includes charts, calculations, simulations, specifications and so forth. If your project claims that it is building some sort of decentralized service or token with new features and actually provides no explanation of how it works specifically, then just close the document and walk away.

 

No Code Repository

 

      This is what matters. Like someone said before “Code is law”. Even if the project announcement and whitepaper are complete trash, you can always count on Github or Sourceforge to put an end to all doubts. If the project provides no link to the code at all or if the project is nothing more than a clone with a few changed lines of code, then it’s not worth your time nor money.

Team

      This is very important. Who is behind the project? Is the team made up of well-known members of the cryptocurrency community? Are they known in other areas? Have they been involved in previous projects? If the answer is yes, then this may be an interesting opportunity. Just remember to check if the person is actually aware of the project as scammers may use famous names just to get people interested even though these are not part of the team.

 

Source: https://www.cryptocompare.com/coins/guides/how-to-avoid-scam-icos/
 

[jonathancm1 24]

On 10/25/2019 at 4:15 PM, dhemasm said:

It's simple i think but this is my experience, scammers Always seducing us and looking very rushed with a variety of fantastic seduction. We can do various steps such as, using malware or antivirus, this prevents the entry of malware into our PC and of course do not just open the link to open the e-mail. Install etheraddresslookup to prevent phising and the last one for spotting fake ICOs, You can visit this fake ICO presented by SEC to educate us. https://bitcointalk.org/index.php?topic=3920469.180 Cheers

In question, scammers are taking advantage of the frenzy of people looking to invest in digital currencies as they have seen millions of dollars come into play in a matter of minutes as people look to invest in the latest in the world of cryptocurrencies. Fake ICOs are not so easy to spot, as some believe they are legitimate by their appearance. We should always look for a backup proof as well as from a legitimate team. However, some ICOs are not fake and are legitimate, but many are still a scam and something we should avoid.

[pliendo 32]

 They offer great rewards, all the steps to earn the coin are straightforward, there is little information about the coin, and some even like to ask for deposits.

[alexjobs 228]

What I do is:

1) I don't download any weird programs on my computer.
2) I have a good antivirus.
3) I always verify that the address where I am going to send cryptocurrencies is correct, before pressing the send button.
4) I use long and complicated passwords.
5) Activate the double safety factor (2fa).
6) I do not open emails that have to do with money, I prefer to type the url directly in the browser.
7) Before sending money to a person or company, I investigate very well, that it is something real and not false.

[elox369 7]

If in your research process you don't get reliable information about the project leaders, or if you notice that they use stock images to identify themselves, it is likely that you are dealing with a scam.

[Matias1209 84]

On 25/10/2019 at 15:37, dextrolker said:

¿Cómo suele ver la gente si algo en este mundo de las criptomonedas es una estafa? Correos electrónicos, sitios web, productos, icos, etc ... ¿cuál es su forma de protegerse de estas estafas?

Most cryptocurrency scams can come in the form of extortion emails, chain referral schemes, or bogus investment and business opportunities. But here's what they all have in common - and what they have in common with yesterday's Twitter attacks: A scammer wants you to send him money, or make a payment, with Bitcoin or another type of cryptocurrency. And once you do, your money is gone, and there is usually no way to get it back (Yobit)

[freelancer2097 71]

On 10/26/2019 at 12:07 AM, dextrolker said:

How do people usually see if something in this cryptocurrencies world is a scam? Emails, websites, products, icos, etc... what is your way of protecting yourself from these scams?

with some research on internet and crypto world forums you can find the scammers. the ways of scamming is always evolving and never rush for something that you have no information about that.

[hatambaba 1064]

Even if you somehow can detect any scam, I think they will still be able to adapt. And it will be even more difficult to recognize them than now. No one was able to eliminate criminality, nor in any sphere. In general, the idea is interesting.

[junnjee 0]

if you find scam site there are many channel in telegram here you can get information from public about site.

[Joli7 25]

Well, there are several signs that you should be aware of in order to identify a scam, among them are that: These companies on the web advertise cryptocurrency investment and fund management services, services promoted without having documentation or licenses that certify that said financial bet will result in a safe investment; offers of utopian investment earnings with manipulation of their markets to support such expectations; In the same way, there are business proposals related to "cryptocurrencies without blockchain" based on pyramid systems.

[Banito23 216]

There are many scams on the internet nowadays. They now perform their acts with different tactics, but for the purpose of this subject, there a number of ways to identify them. Firstly, their persuading promises. They will buy your mind their sweet write ups, promising for the impossibles. Secondly, always search for other people opinions on that project, this will help reach conclusions.