How to avoid scams when buying cryptocurrencies?

Experto - MegaAcademy
Experto - MegaAcademy

The number of cryptocurrency trades is growing and becoming increasingly massive in the financial world; and in this way the attention of cybercriminals also grows. This is why it is vitally important to take certain measures when making your transactions.

Certainly, a highly liquid market such as crypto is very attractive for investors, but it is also striking for scammers.

When operating in a fully digital environment, where there are no physical banknotes or metal coins, information is key. This will make the difference between a successful and growing investment or a possible electronic fraud.

Do you want to know how to avoid scams and shield yourself effectively? Discover below, a series of interesting tips to confidently enter a truly profitable market.

Are there risks when buying cryptocurrencies?

Sadly, hackers pose a constant danger when buying cryptocurrencies. Just in the first quarter of 2020, many users were victims of theft totaling $24 million. And this figure is 5 times higher compared to 2017 Incredible! This was reported by a study by the Blockchain tracking and analysis platform Whale Alert.

Yes, there are risks in this financial activity. However, it is important to know that you can be protected as long as you take proper precautions.

Knowledge, as in any field, is essential, so it is appropriate to know what are the types of scams that exist. See.

Types of scams in the crypto world

In the cryptographic world there are several ways to carry out frauds when buying cryptocurrencies. Some are more common than others, but all generate devastating effects to the unfortunate unwary.

Cuídate de estafas al comprar criptomonedas, nunca te fíes de retornos rápidos de inversión sin mayores esfuerzos. Click To Tweet

These scams are divided into three classes, which are classified into:

Web-type scams

Within this type of scams can be mentioned:

-Cloud Mining,very popular in 2016 Consists of web pages that offer great performance or mining performance with quick promises of returns on investment. Many users, attracted by the idea, invest in these sites, losing all their money.

Phishing uses identity theft on websites of exchanges or even famous celebrities. Once scammers access your personal or sensitive data, they can steal your funds.

ICO Scams or Initial Cryptocurrency Offerings are a mechanism used by scammers, who create a fraud scheme. They go public with cryptocurrencies at low prices, taking investors' money and disappearing.

Software Scams

When buying cryptocurrencies you should be aware of one of the most well-known scams: software downloads and updates.

After a software release, it seeks to absorb through fake wallets, various funds through downloads to computers.

Frauds when buying cryptocurrencies

Viruses or ransomware are dangerous, since your computer can be infected for the purpose of encrypting files.

Investment Fund Scams

In this line the scammers are located under the names of supposedly solid and reliable companies. They usually offer very high returns on investments without much effort, which is not real.

Of course, this does not indicate that investment funds are unsafe, but you should be prudent and cautious when choosing.

How to prevent scams?

In the universe of cryptocurrencies, as in any financial environment, it is necessary to have information and good tools. The idea is to achieve the expected profitability, be shrewd and avoid fraud.

La mejor forma de prevenir estafas al comprar criptomonedas es la información. Documéntate e invierte tranquilo. Click To Tweet

Below, we give you some tips to improve security when trading and thus operate calmly.

The coins with the highest trend of scams

Buying cryptocurrencies is a very profitable activity that undoubtedly brings with it some risks. The most famous crypto asset is Bitcoin, a target of scammers since its creation.

But this does not mean that it is an insecure currency, the important thing is to have truthful information about anti-scam methods.

Whether you trade cryptocurrencies like Litecoin, Dash, Ripple, Ethereum, or Bitcoin itself, you need to document yourself before investing.

Research as the main tool

Studying about the investment you want to make is essential. Before buying cryptocurrencies you should check the reputation of the company and its tax data. It is also useful to observe the appreciations or opinions of users.

Having good protection is key

Within a completely digital environment, it is essential to have a powerful antivirus. Also, try to keep your operating system as up-to-date as possible.

Access secure websites

It is important that you avoid visiting websites of dubious origin and be sure to enter using the https address. Check the connection security and pay attention to links from social networks or emails.

Secure sites when buying cryptocurrencies

A mis-placed letter in the url will direct you to the wrong web page, a fraudulent website. Avoid being scammed and protect your data and investment.

Enables double authentication

When buying cryptocurrencies, you have the alternative of strengthening the security of your password. Double authentication involves adding and activating a second key to verify your identity.

In the event that they try to scam you by stealing your password, you will have another temporary key on your smartphone or computer.

Manage your own wallet

This method is essential, it is advisable to manage your wallet yourself and not delegate this function to someone else. Before you should know the safest wallets to avoid scams.

To buy cryptocurrencies you must have timely and updated information, so it will be difficult to fall into the trap of scammers. So what to do? Now know the safest way to trade cryptos on the P2P market.

Do you already know Ccoins? An all-in-one cryptocurrency market, where you will find everything you need. Here's how it works.

1. Find an offer according to your needs. Each offer presents all the detailed information.

2. Choose the amount of cryptocurrencies you want to exchange or the equivalent in local currency.

3. Run the exchange on a secure, encrypted, multi-currency platform.

Conclusions

If you want to buy cryptocurrencies, but you feel insecure about scams, you should know that you have an ally. Knowing the fraudulent methods is key, as this will give you greater confidence before taking any steps.

Follow the aforementioned safety tips, achieve your goals and don't let them cheat on you. Keep in mind the advice we offer you at Ccoins,a useful and reliable platform for your financial transactions.

Secure your person-to-person negotiations, buy and sell your cryptocurrencies securely in a state-of-the-art interface. Your cryptocurrency exchanges are shielded and you will own a great diversity of means of payment in Ccoins.