As cryptocurrency gains more popularity, so do the scams associated with it. It's not uncommon for
fraudsters to make false claims to lure unsuspecting victims into their traps, offering fake investment
opportunities or fake website. With the internet providing a cloak of anonymity, these scams can
originate from anywhere in the world. That's why it's crucial to have the ability to spot scams as
our lives increasingly move into the virtual world.
To help you identify the signs of a potential scam, we've put together a list of tips.
First, trust your common sense. If an offer seems too good to be true, it probably is. Scammers often
use high-stakes rewards, "bonuses" or anything they think will entice people to part with their
cryptocurrency.
Next, check the website's social media links. Scammers will often include social media logos on their
sites. But take a closer look - often, these links lead to nowhere or non-functioning pages. If
there are functioning social media accounts, check to see if there are any posts. Angry users often
take to social media to warn others about scams.
Check the small print, too. Scammers often use placeholder or rushed text to give the impression of
professionalism. If these pages don't exist or contain poor-quality content, such as typos, it's
worth thinking twice about the legitimacy of whatever they are selling.
Check the domain name of the site. Scammers may try to pass themselves off as official websites of
well-known brands. Check that the domain name matches what you'd expect, especially if you're clicking
a link. Use your favorite search engine to look up the website if you're not sure.
Another thing to check is the age of the website's domain name. Scammers often purchase domain names
for short periods, like a year, to keep their costs low. Websites that have been recently created
and have a short validity period are more likely to be scams.
Be wary of reviews on the website itself. Scammers often create fake positive reviews with made-up
names and photos taken from random sources. Check external review websites like Scamadviser and TrustPilot
for more reliable reviews.
Lastly, check that the website's communication is secured with 'https' and a visible lock symbol.
While this doesn't guarantee that the website is not fake, it does provide some additional safety.
If you're still not sure, trust your intuition and walk away. It's always better to be cautious
when it comes to potential scams.
