Crypto Currency

3 Red Flags Of Cryptocurrency Scams

There are many different kinds of cryptocurrency scams that are victimizing people who are new to the crypto world. Con…

There are many different kinds of cryptocurrency scams that are victimizing people who are new to the crypto world. Con artists prey on those who don’t know the difference between a legit crypto platform and a fake one, who don’t know a Ponzi scheme from a legitimate affiliate program. These scammers fool people into thinking that their well-designed websites give them a semblance of legitimacy, but on closer inspection, these sites won’t pass muster. Here are some giant red flags you should be aware of:

1. Website Has No SSL Certificate

It’s very important for a website that deals with cryptocurrencies to have an SSL (Secure Sockets Layer) certificate installed. Websites with no SSL only display HTTP before their domain names and websites with SSL show HTTPS. Many scam websites are here today, gone tomorrow types of sites, which means once they have scammed a certain number of people, they will shut down that site and move on to a fresh domain. It’s quite easy to transfer website files from one domain to another; this is why these scammers can set up shop very quickly.

2. The Offer Is Too Good To Be True

Whether you’re trying to get the best rates for your dollars or bitcoins, it’s only natural that youíd want the best possible deal. Since cryptocurrencies are decentralized, most crypto exchanges have their own exchange rates.
However, these rates donít vary by much. If you see a website offering rates that are significantly lower or higher than other established exchanges, then itís a giant red flag. It’s better to do business with a trusted platform with higher fees than to try to get the best deal out of an unknown website that could possibly swindle you out of your entire fortune.

3. Beware Of Ponzi Scams

Some Ponzi scams are not as obvious especially if they’ve been around for a few weeks or months. This is because their first members would already have received their profits (derived from payments by new recruits) and would be posting glowing reviews on the Internet. At first glance, you might be fooled into thinking it’s a legitimate crypto operation especially if you personally know someone who’s made money from the scheme. Check out those positive reviews, and you’ll see they’re basically saying the same thing. Weíd even like to bet they would have their affiliate or referral links somewhere on the review.

Be the first to write a comment.

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto Currency

Biometric Data Security Under Scrutiny After Coinbase Suit; Expert Urges Modular Privacy

A class-action lawsuit against Coinbase has raised concerns about biometric data collection and storage practices by technology companies. Nanak Nihal Khalsa argues argues that relying on immutable biometric identifiers poses permanent risks, as they cannot be reset once compromised. Patchwork of State-Level Privacy Regulations A class-action suit recently filed against the cryptocurrency exchange Coinbase has

A class-action lawsuit against Coinbase has raised concerns about biometric data collection and storage practices by technology companies. Nanak Nihal Khalsa argues argues that relying on immutable biometric identifiers poses permanent risks, as they cannot be reset once compromised. Patchwork of State-Level Privacy Regulations A class-action suit recently filed against the cryptocurrency exchange Coinbase has [……
Read More

Continue Reading
Crypto Currency

Trump: US Is Dominating in Crypto and Bitcoin—‘We Will Keep It That Way’

Trump’s emphatic vow that the U.S. is dominating in crypto and bitcoin supercharges the digital asset space, fueling unstoppable momentum toward American-led global blockchain dominance. Trump Promises Total US Crypto Supremacy U.S. President Donald Trump voiced strong confidence in America’s dominance in cryptocurrency on his social media platform Truth Social on May 22…

Trump’s emphatic vow that the U.S. is dominating in crypto and bitcoin supercharges the digital asset space, fueling unstoppable momentum toward American-led global blockchain dominance. Trump Promises Total US Crypto Supremacy U.S. President Donald Trump voiced strong confidence in America’s dominance in cryptocurrency on his social media platform Truth Social on May 22…
Read More

Continue Reading
Crypto Currency

Hyperliquid Sets New Records, Surges to Fifth Place Among Crypto Derivatives Exchanges

Hyperliquid, a swiftly advancing contender in the arena of cryptocurrency derivative trading, has hit an unprecedented landmark, achieving an all-time high (ATH) in both open interest and 24-hour trading volume. This explosive growth means that the platform now finds itself in the unlikely position of occupying the fifth slot in the global crypto derivatives market…

Hyperliquid, a swiftly advancing contender in the arena of cryptocurrency derivative trading, has hit an unprecedented landmark, achieving an all-time high (ATH) in both open interest and 24-hour trading volume. This explosive growth means that the platform now finds itself in the unlikely position of occupying the fifth slot in the global crypto derivatives market…
Read More

Continue Reading
Crypto Currency

UAE announces tax exemption; Expected holiday dates; Dubai real estate cryptocurrency buying tips; visa application centre opened – 10 things you missed this week

UAE tax rules, holiday forecasts, Dubai real estate analysis and more top news stories this week…

UAE tax rules, holiday forecasts, Dubai real estate analysis and more top news stories this week…
Read More

Continue Reading