Despite the recent surge in cryptocurrency popularity, scams are still a significant issue for those new to the crypto world. There are several different types of cryptocurrency scams that victimize people who are new to this technology. They end up losing money, being scammed out of their personal information, or even tricked into giving up their social media accounts. Below are three (3) red flags you should look out for:
1 – Website Has No SSL Certificate Â
A website dealing with cryptocurrency should have SSL installed since it is of importance. Websites with no SSL display HTTP before their domain names, and websites that provide encryption show HTTPS. Many cryptocurrency scam sites pop up today and shut down tomorrow, which means once they have scammed a certain number of people, they will stop operating the site and move on to a new group of victims. It is easy to transfer files from one domain to another that these scammers can set up quickly.Â
2 – Too Good To Be True Offers
Whether you are using dollars, euros, yen, or cryptocurrencies to make a purchase, one only wants the best possible deal. While most bitcoin exchanges have their exchange rates, they are not much different in most cases. It is worth noticing if any website offers vastly different rates than other established exchanges, and if so, it is a giant red flag. Doing business with a trusted platform with higher rates is worth it rather than trying out an unknown website where you may be a victim of fraud without even knowing it.
3 – Beware Of Ponzi Scams
Not all Ponzi scams are apparent at first glance, particularly when the fraud has been up and running for a couple of months. This is because the people who have invested in this scheme have already been paid, and they are happy to write glowing reviews because of the money they have gained. This is why one may e fooled into believing this is a legitimate cryptocurrency scheme, especially if you know someone who has made money off this program. Be careful, though! Make sure to check out those positive reviews, and you’ll see they’re saying the same thing. We even like to bet that they would have their affiliate or referral links somewhere on the review!
