How to Avoid Scams while Buying Cryptocurrency?

The Co-Founder of The Cryptocurrency Ethereum Is One of The World's Youngest Billionaires

The world of cryptocurrencies is growing, and more people are showing interest in purchasing cryptocurrencies. This is fantastic news for the cryptocurrency market; however, this is also a lucrative position for scammers and hackers who want to exploit this growth in the market. Therefore, you need to know about the common ways people ask and when they try to buy cryptocurrencies and the different ways you can guard yourself against such unscrupulous individuals. 

Best tips that you can follow while purchasing cryptocurrencies

  • Avoid imposter and unscrupulous websites websites

The internet is riddled with unscrupulous websites where a single click can launch 100 viruses towards your device. With the boom of cryptocurrencies, the increase in the number of such fake websites is high. Many seasoned cryptocurrency owners have also been victims of such counterfeit websites as there is very little difference between the authentic ones and the ones created by hackers. These hackers create similar websites to trap individuals into using their real money to buy trash crypto.

 This way, they not only steal the amount but also can access your other accounts by stealing your credentials. The simple way to avoid such mistakes is to type the URL by yourself carefully so that you do not end up on any of the unscrupulous websites. A legit website will also have all of their credentials, like bitcoin investing, that you can verify. 

Fake electronic currency mobile application

Just because you are downloading a mobile application for cryptocurrency from Google Play Store or the Apple app does not mean that it is legit. Even reviews on these apps may seem legit, but all of these are purchased by hackers to trap unsuspecting individuals. Yes, companies often try to find these fake apps and get them removed, but this is generally not before it has caused damage in many people’s lives. 

Thousands of people worldwide have been victims of these scammers creating electronic currency applications that resemble the interface of legit companies. The best way you can see through the unscrupulous applications is by looking at the logos and the colouring of the apps. Even the slightest inconsistency can be Red flag. 

Always check the reviews left by users for sieve through unscrupulous apps and websites. 

Most of the unscrupulous websites will have generic reviews. The content of most of these reviews will be the same and are full of spelling mistakes. Most of the time, the reviews of these fake electronic currency websites or applications are written by bots. A simple plagiarism check on these reviews will be enough to let you know that the same review has been posted on several websites hosted by hackers. A little time-constraining research can seem a bit of a headache. However, it is the best way to keep yourself safe from ever falling into the traps set up by these individuals. 

Do not click on hyperlinks on email giving discounts on cryptocurrencies.

It may seem like an unbelievable deal, and most of the time, scammers purposely create this to attract unsuspecting individuals. These attractive promotions are also designed so that people’s focus remains on these announcements rather than the fake company logo or the legitimate email address from which you have received the fraudulent mail. Take the time to go through every piece of information from such cryptocurrency companies to see if any legitimate company has reached out to you. 


Pay heed to all the different methods you can keep yourself safe while purchasing cryptocurrencies. Every day new and ingenious ways of exploiting people who want to buy cryptocurrency are coming up. You have to proactively keep yourself safe to not lose your money to these cyber hackers and scammers. Also, never disclose your personal information to anyone over the phone calling you for a great deal in cryptocurrencies. Do more research about how these cameras and hackers are fooling unsuspecting individuals to keep themselves safe. 

How to Install Torque Lite on Kodi 19 Matrix

Previous article

Several Blunders to Overcome while Trading Cryptocurrencies

Next article

You may also like


Comments are closed.

More in Tech