To whoever needs to read this today:
If it's too good to be true, it probably isn't.
The time has come, your wallet is thriving with tokens, and you have started to wonder what's next for your portfolio. In your never ending search, while surfing through crypto-focused websites, you have, are, and will be blasted with different kinds of advertisements.
So let's take a look at five of my favorites flavors of scams, and particularly how they tend to present themselves, so you and your coins can stay away from them.
- Unsolicited advertisement: You didn't click on any banner or link, but suddenly there is a pop-up window awaiting for you, offering you a new scheme to become rich overnight. It's time to click that red cross on top ASAP. Serious companies and proposals would not engage in that kind of intrusive type of ads. It is not a good PR look and shows a severe lack of professionalism.
- Insecure domains: How come a trustworthy company, that is looking forward to managing thousands of assets, didn't have the time to invest in a secure server, domain, or certificate. The green lock of the HTTPS is your friend, always look out for it.
- 10% daily ROI: I'll never fail to be amazed by how those types of scams even became a thing. Banks have been paying 5% yearly on their best yielding accounts, and now, suddenly, there is a financial instrument ready to give you a 100% profit in 20 days. Ponzi schemes in their ultimate form.
- Top Secret business plans or operations: Non-existent information on what the company's business is, under the excuse of it being a trade secret or a secret formula. Bitcoin cloud mining scams exploited this with the "security of the farm" being the reason why they didn't disclose where their farms were located, spoiler alert: nowhere in this Earth! Always look out for sustainability when deciding if a business model is worth putting your funds into. Money shall, without a fail, come from somewhere, better off not being from your wallet.
- 2-for-1 offers: Deposit X amount of X crypto, and get back twice the amount you deposit, with no apparent justification for the grant. Privacy is the key to crypto, but as with anything, there's a downside to it: lack of accountability. Stay safe, sending coins to a random address on the promise of it coming back doubled, is 99% of the time, a scam.
Some sites may offer you a 5% or even a 10% bonus on your first deposit, but that's the key there, only the first time.
They're not doing charity, they're investing in you, as a customer.
Crypto is more similar to the wild west than the year 3000, a mostly rule-less land, where your common sense is more important than any good antivirus.
Talking about antivirus, is yours updated and active? Having robust antivirus protection is always recommended, but if you're dealing with digital assets, it is a must.
Links list:
Check out Brave if you haven't, and get some BATs to care for.
Give Coin a try, and grab some XYO while walking.
Feel free to follow me here on Publish0x.
