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Basic Questions about Cryptos / Re: What are common risks involved in crypto?
« on: March 15, 2024, 08:06:19 AM »2. What wallets do you use to store up your treasure?When a new technology is having an uprise, it’s not out of place that it would be persecuted and leveraged by anyone and everyone who sees an opportunity within that space, legally or illegally.
So many fake wallets are in existence today, and these apps were created by scammers as a trap to withdraw every single coin you have stored into it. Watch the type of DExs of CExs wallets you use to store up your coins.
Scammers have been everywhere and some means by which they’ve been able to divert user funds is by creating these cloned wallets.
Scammers basically clone wallets, websites and create fake investment platforms to trick you into having the confusion that it’s the original and with the irreversible nature of cryptocurrency transactions, once it’s sent and have got a single confirmation on it, it’s no longer within your rights to own it.
Hence. It’s become of great importance to do roper research on what wallet or site you’re saving or investing your money as, these clones does exists and is a window for losses. Always looking up for official website and downloads from there links has been some ways to save yourself the trouble.