Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: AlphaBeta on January 29, 2025, 12:15:24 PM
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I'm sure telling you about how risky crypto and the crypto space is, would not be news as we've seen so many instances and examples in recent times.
At this point, I think the most important thing to know is how to ensure that you don't fall for these schemes, especially with projects you want to invest in or the exchanges.
For example if I'm looking to choose an exchange right now, I'd be looking for information that points towards safety. For example, the article that talked about Bitget userbase increasing by 400% in 2024 shows that a lot of people trust the exchange and that can't be a coincidence.
You can also check track records, quality of service etc, and this can help you make a decision. Of course this is not all to look out for, and I'd appreciate more examples regarding this.
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Increase in the number of users != Trust in the platform, if the number of Bit get users was 30 users and the number rose to 30,000, this is a big increase, but it certainly does not mean trust in the platform or that it is better than a platform that increased by 1%. In short, trying to promote this platform has become disgusting and I hope it is banned here.
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yeah this thread is an obvious way to get a name out there.
use a legit question for the title
then promo the exchange.
one way to beat scams is do not fall for threads that are started this way.
another way is talk to long term members ask them what exchanges do you use.
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Information is the best way to prevent scams
Since you're on the forum, I suggest asking questions and creating threads when you have any doubts, or reading the threads that contain good information
Outside the forum, the official X pages, Discord and large crypto users can also provide you with good information to keep you away from scams, because usually when there is a problem with a crypto service, people comment a lot, and in these groups I mentioned above, you can always base yourself
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AlphaBeta, I'm very tired of BitGet and it seems I'm not the only one. Looking at your posts I see that you have opened about 10 threads, which is very good, but I have only seen that you have continued the conversation, giving your point of view, in 2 of those threads, which is very bad. The threads are opened to create conversation and give opinions, so we all learn and contribute.
You have a 20% warning.
That said, I warn you that if this BitGet dynamic continues like this, the measures to be taken will be drastic.
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Increase in the number of users != Trust in the platform, if the number of Bit get users was 30 users and the number rose to 30,000, this is a big increase, but it certainly does not mean trust in the platform or that it is better than a platform that increased by 1%. In short, trying to promote this platform has become disgusting and I hope it is banned here.
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lol
I also can't believe so many users have shilled this exchange but its true though that the price of its native token had increased tremendously. It doesn't look very natural that so many users are shilling, I'm sure though its beneficial to them to promote it especially if they have invested in that Bitget Token. Exchange token seem to be one safe investment though.
If one person really need to protect himself from crypto scam, he can just buy BTC and that's it. No need to invest in something else.
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OP, I think that you don't need to come here and tell us which exchange is best because we all have our various exchanges that we use due to ourown personal reasons. If bitget is good for you and you are enjoying some benefits, is nobody problem but stop coming here to act smart by trying to promote them.
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The user already got the watched tag for Shilling the name and from ourselves we can reward them with a negative Karma for not to repeat the same.
Exchange is not really a place where scams happen, it's just the investment platforms which claim huge returns on daily and weekly basis that's too good to be true.
BTW, Bitget got one of those?
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Increase in the number of users != Trust in the platform, if the number of Bit get users was 30 users and the number rose to 30,000, this is a big increase, but it certainly does not mean trust in the platform or that it is better than a platform that increased by 1%. In short, trying to promote this platform has become disgusting and I hope it is banned here.
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I definitely believe this user has opened or will open many topics just to increase his activity.
But I have a doubt that the exchanger like bitget have need these like low grade promotion although I don't much use the Bitget but use some few time, I haven't face any issue. But when we have the better option like binance and the others top exchanger why do we will chose this.
And obviously I don't believe on the quantity because these exchangers can easily gain millions of user by creating only airdrop, and I think the op saying about those.
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To you, is Bitget Exchange the best way to stay out of scams? What of newbies who are not in this forum? Should we advise them to open an account with Bitget Exchange, forgetting to tell them the necessary things that they should be aware of to avoid experiencing scams in crypto? I was expecting you to list and clarify the issue of scams and how to avoid them rather than shilling on Bitget exchange, whereas there are top trusted crypto exchanges that people trusted than Bitget.
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Increase in the number of users != Trust in the platform, if the number of Bit get users was 30 users and the number rose to 30,000, this is a big increase, but it certainly does not mean trust in the platform or that it is better than a platform that increased by 1%. In short, trying to promote this platform has become disgusting and I hope it is banned here.
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I'm not even saying it neccesarily means you can trust the exchange, I'm just sayin the increase signals that a lot more people trust the exchange with their assets and their trades, for different reasons.
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yeah this thread is an obvious way to get a name out there.
use a legit question for the title
then promo the exchange.
one way to beat scams is do not fall for threads that are started this way.
another way is talk to long term members ask them what exchanges do you use.
Personally my approach was to mention what I thought about the topic, and I hoped that others would add their tips and suggestion as well.
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Information is the best way to prevent scams
Since you're on the forum, I suggest asking questions and creating threads when you have any doubts, or reading the threads that contain good information
Outside the forum, the official X pages, Discord and large crypto users can also provide you with good information to keep you away from scams, because usually when there is a problem with a crypto service, people comment a lot, and in these groups I mentioned above, you can always base yourself
I get what you mean, thank you very much mate.
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AlphaBeta, I'm very tired of BitGet and it seems I'm not the only one. Looking at your posts I see that you have opened about 10 threads, which is very good, but I have only seen that you have continued the conversation, giving your point of view, in 2 of those threads, which is very bad. The threads are opened to create conversation and give opinions, so we all learn and contribute.
You have a 20% warning.
That said, I warn you that if this BitGet dynamic continues like this, the measures to be taken will be drastic.
I understand, and while I was only referencing them to butress my point, I see how this might come across as mw having alterior motive, but that's not my intention. I was hoping other people would take a cue from my example and give other tips on how they avoid these scams.
That said, I'd also work on engaging my threads, it can just get very overwhelming sometimes.
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Increase in the number of users != Trust in the platform, if the number of Bit get users was 30 users and the number rose to 30,000, this is a big increase, but it certainly does not mean trust in the platform or that it is better than a platform that increased by 1%. In short, trying to promote this platform has become disgusting and I hope it is banned here.
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lol
I also can't believe so many users have shilled this exchange but its true though that the price of its native token had increased tremendously. It doesn't look very natural that so many users are shilling, I'm sure though its beneficial to them to promote it especially if they have invested in that Bitget Token. Exchange token seem to be one safe investment though.
If one person really need to protect himself from crypto scam, he can just buy BTC and that's it. No need to invest in something else.
Thing is I understand what you mean about my post looking like a shill, but it was just me making an example, and I used that exchange because I saw that article about them on X just before I made the post.
And I thought to see what people here thought about it. That said, I do agree with your thoughts as regards BTC.
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OP, I think that you don't need to come here and tell us which exchange is best because we all have our various exchanges that we use due to ourown personal reasons. If bitget is good for you and you are enjoying some benefits, is nobody problem but stop coming here to act smart by trying to promote them.
It was not my intention to force my opinion on people, and like you said everyone has their preferences when it comes to choosing an exchange. My point was using that as one example and hoping that others would add their own opinions on how they are able to decide a reliable platform to use.
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To you, is Bitget Exchange the best way to stay out of scams? What of newbies who are not in this forum? Should we advise them to open an account with Bitget Exchange, forgetting to tell them the necessary things that they should be aware of to avoid experiencing scams in crypto? I was expecting you to list and clarify the issue of scams and how to avoid them rather than shilling on Bitget exchange, whereas there are top trusted crypto exchanges that people trusted than Bitget.
Oh no, that's not my point at all, my point was that increase in the user base might suggest that a lot of people trust the services that a particular exchange offers, and if you're looking for a safe platform that's a good place to look, and I was hoping other people would also mention things they look out for when they make that decision.
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Many times, investments cannot be protected from scam projects, especially there are many projects that are not easily identified as fraudulent. These projects manage fund collection very smartly but do not take any steps regarding exchange listing, resulting in all investments becoming worthless. If it is not possible to be cautious about these investments, most investors face huge losses by investing in these projects.
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Re: How do you protect yourself from scams in crypto?
Research, asking questions, know the red flags, knowledge.
These are the 4 things that I think will help you protect from scams in crypto. I don't know when's the last time that I got scammed, or I don't even know if I got scammed when I was still a newbie back a few years ago, and that's because I tried to watch videos on how not to get scammed on YouTube, and that helped me avoid it. I hope that most of the newbies out there will at least equip themselves with information first before investing because they're the ones that scammers want to scam the most as they lack knowledge and experience as well.
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Bitget is shilling both in this forum and in bitcointalk, i don't know why they didn't think it wise to go for a more reputable type of advertisement. Instead of hiring people to make posts they do not care about, only to find a way to fix the name in there, shameful in my opinion.
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I hope that most of the newbies out there will at least equip themselves with information first before investing because they're the ones that scammers want to scam the most as they lack knowledge and experience as well.
there is definitely less expectations when it comes to beginners so if as a newbie you get scammed it is almost expected but actually we need to stop this kind of thinking yes there will always be room to improve but it would be a lot better if from the very beginning you already are caught up to speed and you are already knowledgeable about what to do and what not to do even before you dive into crypto
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I hope that most of the newbies out there will at least equip themselves with information first before investing because they're the ones that scammers want to scam the most as they lack knowledge and experience as well.
there is definitely less expectations when it comes to beginners so if as a newbie you get scammed it is almost expected but actually we need to stop this kind of thinking yes there will always be room to improve but it would be a lot better if from the very beginning you already are caught up to speed and you are already knowledgeable about what to do and what not to do even before you dive into crypto
Its most important for newbie or new comer in cryptocurrency how to protect them self from thousand interested way from scammer, increasing much knowledge and have active communicate at telegram channel airdrop information to know which one way as scam or trust for investing cryptocurrency assets.
Now the scammer moving their scam way for selling scam coins, its must know by beginner when investing at pre sale which one coins have to buy or not if won't loss much money and coins not worth it yet any more after the scammer run away.
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To you, is Bitget Exchange the best way to stay out of scams? What of newbies who are not in this forum? Should we advise them to open an account with Bitget Exchange, forgetting to tell them the necessary things that they should be aware of to avoid experiencing scams in crypto? I was expecting you to list and clarify the issue of scams and how to avoid them rather than shilling on Bitget exchange, whereas there are top trusted crypto exchanges that people trusted than Bitget.
Friend, you did speak your mind, but let me clarify something, mentioning this exchange growth was just an example of how some people gauge trust (like seeing crowds flock to a platform). And I don't think it’s actually an endorsement.
In my own opinion for newbies, always DYOR, avoid hyping a project or exchange, and learn the way scammers move to be able to notice their moves.
No platforms is 100% perfect same like Coinbase, Binance and Bitget, they aren’t perfect. The goal isn’t to push the project but to talk about its clean security history and growth (like that insane jump to $600B in trading volume!) are solid signs it’s doing things right. Features like Seed, Pre-market, PoolX and Telegram bots also show they’re focused on users, not just profits.
Appreciate you keeping the convo honest—this stuff matters!
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~snip~
That said, I'd also work on engaging my threads, it can just get very overwhelming sometimes.
I perfectly understand that we all have a life and we don't always have as much time as we would like. But apart from that we must be “responsible” when starting a thread and be able to continue sharing ideas with other users.
You don't have to worry about the warning, it will disappear automatically in a few hours.
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To you, is Bitget Exchange the best way to stay out of scams? What of newbies who are not in this forum? Should we advise them to open an account with Bitget Exchange, forgetting to tell them the necessary things that they should be aware of to avoid experiencing scams in crypto? I was expecting you to list and clarify the issue of scams and how to avoid them rather than shilling on Bitget exchange, whereas there are top trusted crypto exchanges that people trusted than Bitget.
Coinbase
Kraken
Have decent records
A trezor hardware is good.
But dealing with established people is big and mostly works
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~snip~
That said, I'd also work on engaging my threads, it can just get very overwhelming sometimes.
I perfectly understand that we all have a life and we don't always have as much time as we would like. But apart from that we must be “responsible” when starting a thread and be able to continue sharing ideas with other users.
You don't have to worry about the warning, it will disappear automatically in a few hours.
Yeah, I get what you mean, and appreciate your understanding.
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Increase in the number of users != Trust in the platform, if the number of Bit get users was 30 users and the number rose to 30,000, this is a big increase, but it certainly does not mean trust in the platform or that it is better than a platform that increased by 1%. In short, trying to promote this platform has become disgusting and I hope it is banned here.
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I agree with your point, if number of users are increasing this should not indicate that the exchange is trust worthy, to see if a exchange is trust worthy we should see how old the exchange is. How are the reviews of people about this exchange and any lawsuits record with SEC or any other big authority.
We should see the audits and liquidity they have. There are many other things to see if a exchange is trust worthy but the OP did not talked about any, you did right, he will learn from this.
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Let us remove the example you have made about that exchange. One thing to remember on this space is on how we check the platform and how reputable they are based on others and your experience. Many seem to shill such projects and they are obvious to look at. That is why there are reviews that cannot be trusted easily. Therefore, add up all of it together with experience and to avoid other conventional scams is about the gain they promise. A daily promise and quite high amount are unreal.
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To you, is Bitget Exchange the best way to stay out of scams? What of newbies who are not in this forum? Should we advise them to open an account with Bitget Exchange, forgetting to tell them the necessary things that they should be aware of to avoid experiencing scams in crypto? I was expecting you to list and clarify the issue of scams and how to avoid them rather than shilling on Bitget exchange, whereas there are top trusted crypto exchanges that people trusted than Bitget.
This is shilling, yes, indeed.
There are many ways to avoid scams, but essentially, it is how we are able to analyze whether it is really a scam or not. and of course, there are many signs of these scams, especially scam exchanges that we must pay attention to. And one thing for sure is that one way to avoid it is to use a top exchange, and if we live in a country that has regulated crypto, then choose a crypto exchange that has been regulated and registered with the government. that's me.
but for Bitget? hmm, actually it's not too bad, but, do we have to be that optimal and trustworthy on exchanges? Even with the signs I mentioned above, we should still be alert to what will happen next, because something might happen without us expecting it. Therefore, being alert and also always knowing the news will help us a lot.
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And one thing for sure is that one way to avoid it is to use a top exchange, and if we live in a country that has regulated crypto, then choose a crypto exchange that has been regulated and registered with the government. that's me.
Yes, now that's what I also do, just use exchanges that are legal and legal in my country and of course it will be safer.
But about how fraud happens in crypto, it has many methods, not only within the internal Exchange but on various platforms there will be scams under the guise of crypto.
It has to be a step ahead to avoid a lot of scams in crypto and has to be more vigilant and don't trust anyone in crypto,
let alone those who are new and suddenly offer investments and such.
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Answer: Trust no one.
There is a reason why the motto of Bitcoin is "don't trust, verify". You don't have to trust any intermediary with your money, nor do you have to trust anybody who is promising you to get more money because you can simply choose to not do anything and that would be the action of "verifying".
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Yes, now that's what I also do, just use exchanges that are legal and legal in my country and of course it will be safer.
But about how fraud happens in crypto, it has many methods, not only within the internal Exchange but on various platforms there will be scams under the guise of crypto.
It has to be a step ahead to avoid a lot of scams in crypto and has to be more vigilant and don't trust anyone in crypto,
let alone those who are new and suddenly offer investments and such.
I think the most effective way to scam and do this is when a new platform advertises that they can earn unrealistic amounts of profit by starting their service. People are easily attracted to such ads and invest.
And this is mostly admitted by those who are new to this sector because they cannot check the platform which is good or which is bad. So first I think we have to avoid our greed to stay free from crypto scam.
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Yes, now that's what I also do, just use exchanges that are legal and legal in my country and of course it will be safer.
But about how fraud happens in crypto, it has many methods, not only within the internal Exchange but on various platforms there will be scams under the guise of crypto.
It has to be a step ahead to avoid a lot of scams in crypto and has to be more vigilant and don't trust anyone in crypto,
let alone those who are new and suddenly offer investments and such.
I think the most effective way to scam and do this is when a new platform advertises that they can earn unrealistic amounts of profit by starting their service. People are easily attracted to such ads and invest.
And this is mostly admitted by those who are new to this sector because they cannot check the platform which is good or which is bad. So first I think we have to avoid our greed to stay free from crypto scam.
Brother, what you said is absolutely right. Since we are Bengalis, we cannot handle greed. We see that if a new investment site comes out, if it is said that if you invest here, you will be given a 70-80% bonus. Hearing this, our heads are not right, then we do not think whether this platform is still perfect for investment or not. Whether I can be cheated here. When we are a victim of scamming, we blame all the sites and say that no investment site is good, then this comes to our mind. So I will say that if we ever go to invest in any site, we must first know what the site is like. Whether it will be perfect for investment or whether we can be successful if we invest here. I shared my opinion.
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So first I think we have to avoid our greed to stay free from crypto scam.
Greed depends on how each person's psychology is, if they can't control it, they will be more vulnerable to being able to fall into the traps that have been provided by scammers.
It is not easy, but this takes a process so that no more people manage to fall into the trap.
Make sure everything is legitimate by doing various research to find out what scammers will do, to deceive someone.
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Make sure everything is legitimate by doing various research to find out what scammers will do, to deceive someone.
Scammers usually put their victims on the spot, and they can't think right at that moment, while their greed does the rest. I believe that if one is not greedy, they cannot fall victim to some of these cheap tricks that scammers use. People in the community should take their time to learn about the modus operandi of scammers, so they can avoid it when faced with it.
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Make sure everything is legitimate by doing various research to find out what scammers will do, to deceive someone.
By not sending money to people we don't know, we can avoid fraud, right? Sometimes what causes us to become victims of fraud is excessive curiosity and greed... getting money by paying money in advance and without effort is something that is still interesting today... from there, several fraud techniques actually began to emerge to manipulate the minds of victims...
Beware of offers of something that is easy to do and offers high profits in a short time, we should be wary of such interesting things...
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Make sure everything is legitimate by doing various research to find out what scammers will do, to deceive someone.
Scammers usually put their victims on the spot, and they can't think right at that moment, while their greed does the rest. I believe that if one is not greedy, they cannot fall victim to some of these cheap tricks that scammers use. People in the community should take their time to learn about the modus operandi of scammers, so they can avoid it when faced with it.
Sometimes if we're too fast we didn't notice that we made mistake. Let us say we are sending money to a different address, but because we're too fast we copied the wrong address. You know, there are many scams here crypto and some of them is not familiar to us. That's why it is very important to double check the address or our actions if we are sending money because we can't cancel it once the transaction is completed. And if we are lack of knowledge into a thing, we should take a pause and do a research so that we will know exactly what to do, because there is no replay.
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Like all investment the cryptocurrency is inherently unstable so any promise of continuous profit is a big warning signal. If you buy any crypto for additional profit without research, there will be a higher amount of losses chance. The fraudsters often use high pressure techniques to hurry the victims under a limited time proposal, so avoid identifying all these techniques. The fraudsters often communicate through social media platforms or email presenting unwanted investment opportunities.
The first line of defense is to be aware of the potential investment or to be aware of the scandal.
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Greed depends on how each person's psychology is, if they can't control it, they will be more vulnerable to being able to fall into the traps that have been provided by scammers.
It is not easy, but this takes a process so that no more people manage to fall into the trap.
Make sure everything is legitimate by doing various research to find out what scammers will do, to deceive someone.
I have No issues agree with your opinion, because it is really the real truth that for a beginner who jump into crypto space for making money to control is psychology for putting the greed level down.
And if it is that is it to do then we will never see the billions billions dollars scams in this space not only in this space we are also seeing the traditional spaces.
So I also think that in this current digital era it should be promote every where to know how to do the various research before investing.
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Sometimes if we're too fast we didn't notice that we made mistake. Let us say we are sending money to a different address, but because we're too fast we copied the wrong address.
It is important to double check the recipient address before sending funds, sometimes scammers can use clipboard malware to change the recipient address to theirs and you would not know until you have sent funds to them. There are many ways scammers operate and it is good to learn them all.
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Like all investment the cryptocurrency is inherently unstable so any promise of continuous profit is a big warning signal. If you buy any crypto for additional profit without research, there will be a higher amount of losses chance. The fraudsters often use high pressure techniques to hurry the victims under a limited time proposal, so avoid identifying all these techniques. The fraudsters often communicate through social media platforms or email presenting unwanted investment opportunities.
The first line of defense is to be aware of the potential investment or to be aware of the scandal.
Many investors are being cheated in many ways in this cryptocurrency world. Because there are many social media in this cryptocurrency world, there are many fake exchanges. Thousands of scammers in different places tell you that if you invest here, you will get the best profit. Newcomers to crypto currency invest there without doing proper research. But most of them run away after a few days and thousands of people get cheated there. So I would say that if we invest in any cryptocurrency before we do any coin research then we should go ahead. Otherwise there is a high chance of cheating. And there are many good exchanges where we can invest with complete trust and confidence.
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And one thing for sure is that one way to avoid it is to use a top exchange, and if we live in a country that has regulated crypto, then choose a crypto exchange that has been regulated and registered with the government. that's me.
Yes, now that's what I also do, just use exchanges that are legal and legal in my country and of course it will be safer.
But about how fraud happens in crypto, it has many methods, not only within the internal Exchange but on various platforms there will be scams under the guise of crypto.
It has to be a step ahead to avoid a lot of scams in crypto and has to be more vigilant and don't trust anyone in crypto,
let alone those who are new and suddenly offer investments and such.
Yes, in this case, you must often cross-check various data or information related to it. Those who often become victims of scams or frauds very easily are because they easily believe in the scam scheme, even they sometimes use platforms that are almost similar in name to the original platform, only the URL is apparently slightly different. Or they use fake social media, but because of ignorance and feeling rushed for fear of missed chances, potential victims are usually not careful enough to analyze. and they even rush to immediately do what the scammers order.
yes, this is where, we ourselves play a role, to always learn to be calmer in any condition, not to rush, always check and cross-check information, and also analyze first in doing something.
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there are many fake exchanges.
Yeah there are many fake exchanges, especially the newer exchanges and it is mostly newbies that fall for them, that's because many of these newbies do not know where to look for good crypto services, so they end up with scammers. However, before joining crypto, it is necessary to research about crypto services and get the ones that are recommended.
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Sometimes if we're too fast we didn't notice that we made mistake. Let us say we are sending money to a different address, but because we're too fast we copied the wrong address.
It is important to double check the recipient address before sending funds, sometimes scammers can use clipboard malware to change the recipient address to theirs and you would not know until you have sent funds to them. There are many ways scammers operate and it is good to learn them all.
Malware are one of the ways scammers sweep wallets but what is not discussed most is verifying or interacting with a smart contract that you know nothing about, metamask and some of this traditional wallet can't help you interpret this things, that's why it's always recommended not interact with a platform you don't know or new.
Alot of wallet are drown daily because they interact with the wrong ones, the clone websites looks like the original ones and when they want to sign transaction, they don't see the treats, it's after the transaction they notice their wallet drained completely. There are some wallets extensions which helps see threats but I haven't seen the hardware wallets, only the extensions like the RABBY wallets.
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The rule "know less, live better" often helps. One of the ways to protect yourself from scams is to do nothing. With that I mean not clicking anywhere, not downloading anything, not opening emails or pages or if you dont search for something, troubles wont find you. What is most popular way to scam a person - to make him invest or send money somewhere. If a person dont search for opportunity, he wont have be scammed by that. If you do nothing, you dont flash addresses, nobody knows about your funds and existence.
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The rule "know less, live better" often helps. One of the ways to protect yourself from scams is to do nothing. With that I mean not clicking anywhere, not downloading anything, not opening emails or pages or if you dont search for something, troubles wont find you. What is most popular way to scam a person - to make him invest or send money somewhere. If a person dont search for opportunity, he wont have be scammed by that. If you do nothing, you dont flash addresses, nobody knows about your funds and existence.
There is a simpler way, which is to only use a few devices specifically for crypto investment and not interact with any internet risks. In addition, we should constantly update ourselves on the risks in the crypto market, such as new forms of fraud based on new technologies.
We all know that making a profit is extremely difficult, so it is rare for someone to give us a large amount of money easily. I will always ignore online ads about a large amount of crypto assets being given away for free, for example, sending someone 1 ETH to receive 2 ETH :)
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The rule "know less, live better" often helps. One of the ways to protect yourself from scams is to do nothing. With that I mean not clicking anywhere, not downloading anything, not opening emails or pages or if you dont search for something, troubles wont find you. What is most popular way to scam a person - to make him invest or send money somewhere. If a person dont search for opportunity, he wont have be scammed by that. If you do nothing, you dont flash addresses, nobody knows about your funds and existence.
There is a simpler way, which is to only use a few devices specifically for crypto investment and not interact with any internet risks. In addition, we should constantly update ourselves on the risks in the crypto market, such as new forms of fraud based on new technologies.
We all know that making a profit is extremely difficult, so it is rare for someone to give us a large amount of money easily. I will always ignore online ads about a large amount of crypto assets being given away for free, for example, sending someone 1 ETH to receive 2 ETH :)
When someone offer something free and easy, and especially add that it will be quick, that is 1000% scam. Reading all the stories about how people got scammed, I have decided that for me it is better to buy something when it has already gained a lot. Being early investor is to risky. Silence probably is the best protection. Saves from attack from the internet and from physical attacks IRL.
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When someone offer something free and easy, and especially add that it will be quick, that is 1000% scam. Reading all the stories about how people got scammed, I have decided that for me it is better to buy something when it has already gained a lot. Being early investor is to risky. Silence probably is the best protection. Saves from attack from the internet and from physical attacks IRL.
Yeap you point out one of the top hacking method. If we just note is that huge mail and messages on our social media's about that there was a free bonus and also something others things why you will get free money on that case there were trying to phishing you even then it was not scam method it was an hacking method they will just put a Malware on your device to scrap your data and access your accounts. This is how this method working..So we should also avoid this types of offers.
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And there are many good exchanges where we can invest with complete trust and confidence.
There are many tokens that are listed in the best exchange like binance, but most investors from those tokens were at losses. However, since binance is needed to have a lot of fee to do token listing of the projects so if a project going to listing then you can understand they have lot of fund. Even some projects died at the forefront such as hamastart because there was a lot of token dispersion as airdrop. Your research should not only be stopped by exchange, so follow the practical activities of the project by which the project can survive in the market.
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there are many fake exchanges.
Yeah there are many fake exchanges, especially the newer exchanges and it is mostly newbies that fall for them, that's because many of these newbies do not know where to look for good crypto services, so they end up with scammers. However, before joining crypto, it is necessary to research about crypto services and get the ones that are recommended.
Buying assets in new exchanges is very risky because we don't know if it's legit or not. But I'm glad that investors now are intelligent, they learned from their past, they research before they interact with the exchanges. Only new investors are likely to be scammed by this scam exchanges. If there are investors looking for the best and trusted exchanges, I recommend Binance and Bybit, I never experience losing money from them for how many years. ;)
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Sometimes if we're too fast we didn't notice that we made mistake. Let us say we are sending money to a different address, but because we're too fast we copied the wrong address.
It is important to double check the recipient address before sending funds, sometimes scammers can use clipboard malware to change the recipient address to theirs and you would not know until you have sent funds to them. There are many ways scammers operate and it is good to learn them all.
Malware are one of the ways scammers sweep wallets but what is not discussed most is verifying or interacting with a smart contract that you know nothing about, metamask and some of this traditional wallet can't help you interpret this things, that's why it's always recommended not interact with a platform you don't know or new.
Alot of wallet are drown daily because they interact with the wrong ones, the clone websites looks like the original ones and when they want to sign transaction, they don't see the treats, it's after the transaction they notice their wallet drained completely. There are some wallets extensions which helps see threats but I haven't seen the hardware wallets, only the extensions like the RABBY wallets.
Airdrop hunters are prone to this stuff. As a hunter, I didn't use my main wallet connecting to any other new site to participate an airdrop, instead I'm using burner wallet so that incase I connected my wallet to a phishing site only the assets in my burner wallet will be lost while my main wallet is safe. If ever I make money in my burner wallet, I will immediately transfer it to my main wallet or withdraw it. So if I ever caught by a scammer they can't make money from me.
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We saw that there were not so many exchanges in 2018-2019. And although the exchanges that were there were very reliable. Because we are now seeing that new exchanges are being created as the days go by. And our big brothers are also struggling to invest and still we who are new to crypto currency are in a worse situation because we are investing without researching any exchange properly and as a result we are being victimized by many people. So I would say that you should invest in the exchange as much as you can, do as much research as you can and even then take advice from our big brothers. In my opinion, since 2017, I have been seeing Binance and Bybit exchanges with a lot of trust and many big brothers have been investing here. So I would say that you should research the exchange and take advice from our big brothers. Thank you all.
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To find out best method of protection, we can try to remember when the last time we were hacked or scammed. And what has lead to it. I was hacked once, and I think it was done due to me being unexperienced. Fund were stolen from my wallet. And I still cant remember what exactly I did and how it happened. Either I have connected wallet to a scam page or gave access. Or when trying to receive reward (it was when bounties were popular), instead of copy/pasting wallet address, I have copy/pasted private key. All that happened 6 years ago. Since then nothing happened.
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To find out best method of protection, we can try to remember when the last time we were hacked or scammed. And what has lead to it. I was hacked once, and I think it was done due to me being unexperienced. Fund were stolen from my wallet. And I still cant remember what exactly I did and how it happened. Either I have connected wallet to a scam page or gave access. Or when trying to receive reward (it was when bounties were popular), instead of copy/pasting wallet address, I have copy/pasted private key. All that happened 6 years ago. Since then nothing happened.
For me it's a scam and so I lost my bitcoin early on. And then I really try to exposed this scammers and hackers and so in the other community, I have shared a lot of articles and advises as all.
And for newbies, in the beginning, it's really better to understand on how to protect our assets, like what kind of wallet we used and how this criminals work. So it's better to just go around and read news as well with opsec so that chances are, you are not likely to be hack as you are self-aware.
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We saw that there were not so many exchanges in 2018-2019. And although the exchanges that were there were very reliable. Because we are now seeing that new exchanges are being created as the days go by. And our big brothers are also struggling to invest and still we who are new to crypto currency are in a worse situation because we are investing without researching any exchange properly and as a result we are being victimized by many people. So I would say that you should invest in the exchange as much as you can, do as much research as you can and even then take advice from our big brothers. In my opinion, since 2017, I have been seeing Binance and Bybit exchanges with a lot of trust and many big brothers have been investing here. So I would say that you should research the exchange and take advice from our big brothers. Thank you all.
There was a famous exchange FTX in 2019 which the later went bankrupted how can you forget about that, there were many other small exchanges which rug pulled their users but the most of scams happned on fake exchanges where people receive phishing links to their emails and DMs etc. whoever clicked taken to a fake site where they saw the same layout of a real exchange like Binance but the actual site is not real.
You give the credentials accordingly they take them and move your money. Finding the right exchange is not hard you just have to find a exchange with good liquidity with lesser cases against them and they should have their audits check every year and it would be good if they are registered with USA authorities.
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Strict risk management
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Yes, now that's what I also do, just use exchanges that are legal and legal in my country and of course it will be safer.
But about how fraud happens in crypto, it has many methods, not only within the internal Exchange but on various platforms there will be scams under the guise of crypto.
It has to be a step ahead to avoid a lot of scams in crypto and has to be more vigilant and don't trust anyone in crypto,
let alone those who are new and suddenly offer investments and such.
I think the most effective way to scam and do this is when a new platform advertises that they can earn unrealistic amounts of profit by starting their service. People are easily attracted to such ads and invest.
And this is mostly admitted by those who are new to this sector because they cannot check the platform which is good or which is bad. So first I think we have to avoid our greed to stay free from crypto scam.
Brother, what you said is absolutely right. Since we are Bengalis, we cannot handle greed. We see that if a new investment site comes out, if it is said that if you invest here, you will be given a 70-80% bonus. Hearing this, our heads are not right, then we do not think whether this platform is still perfect for investment or not. Whether I can be cheated here. When we are a victim of scamming, we blame all the sites and say that no investment site is good, then this comes to our mind. So I will say that if we ever go to invest in any site, we must first know what the site is like. Whether it will be perfect for investment or whether we can be successful if we invest here. I shared my opinion.
What do you mean by "Since we are Bengalis, we cannot handle greed" ? I don't like this bold statement of yours! You shouldn't degrade your own community. If you think that of yourselves, what will others from other localities think of you? Ever thought about that before writing this comment?
And when it comes to greed, it's basic human nature. No one is immune to it, nor is it a characteristic of a certain community or group or country.
Lastly, regarding this topic, I always tell myself, "if it's too good to be true, then it's probably a scam". :)
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Brother, what you said is absolutely right. Since we are Bengalis, we cannot handle greed. We see that if a new investment site comes out, if it is said that if you invest here, you will be given a 70-80% bonus. Hearing this, our heads are not right, then we do not think whether this platform is still perfect for investment or not. Whether I can be cheated here. When we are a victim of scamming, we blame all the sites and say that no investment site is good, then this comes to our mind. So I will say that if we ever go to invest in any site, we must first know what the site is like. Whether it will be perfect for investment or whether we can be successful if we invest here. I shared my opinion.
I didn't notice your post before but it's really not good to take your community to a disrespectful position in a global place.
Moreover, the thing you said that after seeing 70% to 80% bonus, we all jump to invest in the website without checking its authenticity, this thing is actually completely wrong. Because in my own case, I rarely participate in any Bonus type event. And if there is such an unrealistic bonus, then I ignore it initially.
So all person ain't have the same mentality. Greedness is in almost every community or nation or people.
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In my opinion, since 2017, I have been seeing Binance and Bybit exchanges with a lot of trust and many big brothers have been investing here. So I would say that you should research the exchange and take advice from our big brothers. Thank you all.
I don't know who you are referring to as 'big brothers', however it is good to trade in the bigger exchanges, rather than the smaller exchanges. However, do not trust an exchange enough as to store your funds in there, no exchange is too big to fail, do not forget that, so after trading you move your funds into your self custodial wallet.
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Protecting ourselves from scams should be our main priority, because all of what we've worked for will go to waste if we do not know how scammers and hackers attack their victims.
We should allocate ample time and effort on how these hackers do their things; educating ourselves should be our main priority because we are our own bank and the protection and preservation of our assets lies in all our action and what we know.
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Protecting ourselves from scams should be our main priority, because all of what we've worked for will go to waste if we do not know how scammers and hackers attack their victims.
I believe one of the very first step to prevent falling for scams is actually to let go of greed. This is basically because most scam attempts become successful because the victim has some greedy motives in mind. As for things like hacks it's important to be very informed about your security and how to manage It.
Most times hackers target people with information already in hand based on what they could probably get from them that's why we need to be as private as possible.
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Protecting ourselves from scams should be our main priority, because all of what we've worked for will go to waste if we do not know how scammers and hackers attack their victims.
I believe one of the very first step to prevent falling for scams is actually to let go of greed. This is basically because most scam attempts become successful because the victim has some greedy motives in mind. As for things like hacks it's important to be very informed about your security and how to manage It.
I agree with this. Don't be greedy and also think logically. Because often scam projects are too good to be true. So that it doesn't make sense, especially when promising results that are beyond reason in an instant.
Indeed, sometimes it seems difficult to detect whether it's a scam or not. It's just that, usually there are some general signs. At least don't let us spend money in a hurry. Especially if we don't really know the team and their social media. So, the point is don't easily believe in new projects or new types of programs that allow for scam projects.
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Information is one of the things that can majorly help in preventing yourself from being a victim to scammers and their tactics that are always changing. Information is always evolving; the reason you have to make sure you are being updated as the information you have changes.
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Information is one of the things that can majorly help in preventing yourself from being a victim to scammers and their tactics that are always changing. Information is always evolving; the reason you have to make sure you are being updated as the information you have changes.
It is true that you said that scams will always update their methods and always change, even though sometimes they do the same thing, but we must also update them from the information we can get in forums like this or through forums that exist and are widely spread, because by updating we can at least know the methods they use to anticipate.
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Information is one of the things that can majorly help in preventing yourself from being a victim to scammers and their tactics that are always changing. Information is always evolving; the reason you have to make sure you are being updated as the information you have changes.
It is true that you said that scams will always update their methods and always change, even though sometimes they do the same thing, but we must also update them from the information we can get in forums like this or through forums that exist and are widely spread, because by updating we can at least know the methods they use to anticipate.
Those who run scam projects have different methods of scamming. Once they have cheated, they use different methods of cheating, which makes it difficult to escape from the trap of cheating. If they run an ICO project in one way, they later change the community and all kinds of websites and emerge in a new form in a different way.
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Most of the scam victims are those that have left themselves vulnerable for an attack without knowing, that is why we have to understand and know the required security measures everyone of us is expected to take in crypto, we must be able to avoid leaving some of our personal information open to public view, because that is one of the route through which they scammers use in getting to set us for an attack because of such vulnerabilities.
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Protecting ourselves from scams should be our main priority, because all of what we've worked for will go to waste if we do not know how scammers and hackers attack their victims.
I believe one of the very first step to prevent falling for scams is actually to let go of greed. This is basically because most scam attempts become successful because the victim has some greedy motives in mind. As for things like hacks it's important to be very informed about your security and how to manage It.
I agree with this. Don't be greedy and also think logically. Because often scam projects are too good to be true. So that it doesn't make sense, especially when promising results that are beyond reason in an instant.
Indeed, sometimes it seems difficult to detect whether it's a scam or not. It's just that, usually there are some general signs. At least don't let us spend money in a hurry. Especially if we don't really know the team and their social media. So, the point is don't easily believe in new projects or new types of programs that allow for scam projects.
If you want to limit your chance of getting scammed in the crypto space is that you should avoid airdrops and be careful with your wallet. If you keep your seed phrase secured and avoid giveaways, but focus on buying and investing, you should also avoid new projects and people that claim to be trading experts to trade for you.
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If you want to limit your chance of getting scammed in the crypto space is that you should avoid airdrops and be careful with your wallet. If you keep your seed phrase secured and avoid giveaways, but focus on buying and investing, you should also avoid new projects and people that claim to be trading experts to trade for you.
They actually many things involved that you need to consider in order to reduce the chances of you falling for scams and even hacks, although greed is one of the major things especially for the case of scam, privacy also matters a lot this is because there's a lower chance of these hackers being able to scam you when they have little or no information about you.
This is why it's very important to keep your Holdings as well as your keys safe because the more exposed the tend to be the higher the chances of you becoming a target.
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If you want to limit your chance of getting scammed in the crypto space is that you should avoid airdrops and be careful with your wallet. If you keep your seed phrase secured and avoid giveaways, but focus on buying and investing, you should also avoid new projects and people that claim to be trading experts to trade for you.
If you want to participate in airdrops, make sure you are using a burner wallets, use a particular wallet address for airdrops and never used your main wallet to do airdrops because you are going to sign into some platforms that is capable of draining everything you have on your wallets, doing such will help you prevent such type of disappointment in the future.
A wallet that is never connected to any platform can't be hack unless someone has access to it. Use a particular wallet and you will be free from any worries that will come to you later in the future, that's what I also do on airdrops that I do participated.
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If you want to limit your chance of getting scammed in the crypto space is that you should avoid airdrops and be careful with your wallet. If you keep your seed phrase secured and avoid giveaways, but focus on buying and investing, you should also avoid new projects and people that claim to be trading experts to trade for you.
It is true. Just avoid joining airdrops, bounties, referrals, and the like. Make sure the main wallets never join any programs. If we want to join them, we must create new wallets. This is the right way that many experienced people have done. I also do this because I am worried with the random coins. If we join the giveaway programs, sometimes there are unknown coins in our wallets. Those are unwanted coins because they have no value.
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Best impact to keep you away from getting scammed is your ability to resist online steamers who tends to make you believe that if you follow their guides you will become rich or sites that makes earning profits is as easy as when you just invest with them.
That is apparently not to believe it when the profit percentage seems attractive and making research before accepting a fact from a consultant so that you don't get mislead to scam.
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Best impact to keep you away from getting scammed is your ability to resist online steamers who tends to make you believe that if you follow their guides you will become rich or sites that makes earning profits is as easy as when you just invest with them.
That is apparently not to believe it when the profit percentage seems attractive and making research before accepting a fact from a consultant so that you don't get mislead to scam.
Because fraud is not just about online gambling, I hope no one forgets about fraud through investment recommendations, especially now that the topic of conversation is memecoin... never buy memecoin with an offer that will give you big profits in a short time, even though memecoin has very dangerous potential too... we know its volatility is very crazy and if there are still those who believe that there is a guarantee of profit, then you should be careful...
In addition, another fraud that people may not be aware of is through malware in pirated software... especially for Windows users where there are so many software that are injected with viruses to steal data... this is not a direct fraud, but basically the worst thing that can happen is that it harms us too.
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yeah this thread is an obvious way to get a name out there.
use a legit question for the title
then promo the exchange.
one way to beat scams is do not fall for threads that are started this way.
another way is talk to long term members ask them what exchanges do you use.
The poster doesn't even know what he's trying to promote or what led to recent upsurge in users registration on the exchange in question. The current wave of Telegram mining is the reason behind high registration on that platform because it seems to be the only exchange that can be easily manipulate and compromised. Higher users don't translate to high trust. In fact, the said exchange has lost credibility in the eyes of many and they now believe it is now the abode for unserious projects.
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If you want to participate in airdrops, make sure you are using a burner wallets, use a particular wallet address for airdrops and never used your main wallet to do airdrops because you are going to sign into some platforms that is capable of draining everything you have on your wallets, doing such will help you prevent such type of disappointment in the future.
A wallet that is never connected to any platform can't be hack unless someone has access to it. Use a particular wallet and you will be free from any worries that will come to you later in the future, that's what I also do on airdrops that I do participated.
I've always thinking about creating a burner wallet if I want to participate in airdrops, but I realize, I don't have that much money in my wallets so... I guess it doesn't matter for me if I lose my money for some reasons because at the end of the day, there are no assets on those wallets especially in Metamask.
Best impact to keep you away from getting scammed is your ability to resist online steamers who tends to make you believe that if you follow their guides you will become rich or sites that makes earning profits is as easy as when you just invest with them.
If you're a newbie in the space, following wrong influencers is pretty much normal, but the more you spend time learning, the more you will realize that the influencers that you're following isn't the right persons hence, you will find the right people that will truly guide you. Trust me, they're hard to find, but it's worth it. :)
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That is apparently not to believe it when the profit percentage seems attractive and making research before accepting a fact from a consultant so that you don't get mislead to scam.
Yeah, scammers take advantage of people's greed, they meet their victims online and they either offer them a job opportunity with a payment that is too good to be true. They can also offer their victims investment opportunities with returns that are too good to be true. However, because of greed, many people cannot see through this, but they fall victim.
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In addition, another fraud that people may not be aware of is through malware in pirated software... especially for Windows users where there are so many software that are injected with viruses to steal data... this is not a direct fraud, but basically the worst thing that can happen is that it harms us too.
I honestly find it hard to believe if somebody doesn't know cracked software can contain malware. Even pirate websites usually give you a disclaimer about it. Most communities also discuss which website is "safe" or not, which implies some websites are distributing fake or malware on their download files. We can also find malware in movie torrent files too. There are many ways people can learn about malware. But yeah, sometimes people do stupid things just because they're overconfident in their ability.
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There are many ways people can learn about malware. But yeah, sometimes people do stupid things just because they're overconfident in their ability.
Yeah, one way of learning about malwares is by joining crypto forums and being active and i believe every crypto person should be in at least one crypto forum. You get to learn from experienced users, share ideas and engage in quality discussions, this will open your eyes wide to scam and how to effectively avoid them.
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Yeah, one way of learning about malwares is by joining crypto forums and being active and i believe every crypto person should be in at least one crypto forum. You get to learn from experienced users, share ideas and engage in quality discussions, this will open your eyes wide to scam and how to effectively avoid them.
I think not just forum, I don't know if I'm the only person that notice that almost crypto projects in the market are all active on X which is formerly called X. In fact, scammers understand how Twitter is very important for projects, that's where many of them operates and there some Kols that are doing and writing educative content for their community to avoid scams.
There is this guy that help exposed some celebrities that are involved in many meme coins, some people just cheat their community and don't look back, all this things can be avoid with proper knowledge to everyone.
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I think not just forum, I don't know if I'm the only person that notice that almost crypto projects in the market are all active on X which is formerly called X.
You mean formerly called Twitter. Yeah, crypto presence is high in X and poeple can learn from there, however, they can be exposed to a lot of scam there and lose their money before they find the educative and informative information available on that platform.
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I think not just forum, I don't know if I'm the only person that notice that almost crypto projects in the market are all active on X which is formerly called X.
You mean formerly called Twitter. Yeah, crypto presence is high in X and poeple can learn from there, however, they can be exposed to a lot of scam there and lose their money before they find the educative and informative information available on that platform.
X has both good and bad stuff and you wouldn't know if some so called 'good' handles prior, start posting stuff to scam their folllowers, so I personally trust forums more as comments are quick to point out scummy stuff and there are also Sherlock Holmes types personalities who look if account changed hands.
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There are many ways people can learn about malware. But yeah, sometimes people do stupid things just because they're overconfident in their ability.
Yeah, one way of learning about malwares is by joining crypto forums and being active and i believe every crypto person should be in at least one crypto forum. You get to learn from experienced users, share ideas and engage in quality discussions, this will open your eyes wide to scam and how to effectively avoid them.
Forums are the best source to get the latest informations, BTT is famous and many websites have mentioned it in their articles and many big personalities have talked about it openely I still think BTT is very under rated even the Satoshi was active here.
And altcoinstalks is not that famous yet therefore people don't know about it much they first usually know about BTT and then about this platform. These communities and some others share latest news about spam and malwares and their types. Self study can be more better than relying on forum in some times.
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so I personally trust forums more as comments are quick to point out scummy stuff
Yeah, i believe people learn about scammy stuff better in cryptocurrency forums, here we have a lot of productive discussions and everyone shares their own opinion. I know there are scammers lurking around even in crypto forums, but we usually point them out whenever they make a 'public' post.
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X has both good and bad stuff and you wouldn't know if some so called 'good' handles prior, start posting stuff to scam their folllowers, so I personally trust forums more as comments are quick to point out scummy stuff and there are also Sherlock Holmes types personalities who look if account changed hands.
Twitter/X is the worst place to learn about new cryptocurrencies. It can be used to get updates on already established and consolidated projects, but it is not useful for much else. In fact, more scams appear every day on that platform with verified accounts. That's a sign that, like Facebook, it doesn't care too much about its users to sell advertising. Forums and pages about new launches (ICO, IEO) are safer sites with much more information available.
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so I personally trust forums more as comments are quick to point out scummy stuff
Yeah, i believe people learn about scammy stuff better in cryptocurrency forums, here we have a lot of productive discussions and everyone shares their own opinion. I know there are scammers lurking around even in crypto forums, but we usually point them out whenever they make a 'public' post.
What you said is very true that a forum like this will help us a lot in trouble that may occur due to scams that may be with by them, Because At the forum there is an in-depth discussion of what happens with scams, so that we can avoid it. At least we can discuss many problems that occur so that what we fear can be avoided and not experienced, because scammers are always targeting at any time
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What you said is very true that a forum like this will help us a lot in trouble that may occur due to scams that may be with by them, Because At the forum there is an in-depth discussion of what happens with scams, so that we can avoid it. At least we can discuss many problems that occur so that what we fear can be avoided and not experienced, because scammers are always targeting at any time
But the hardest truth is most of the people come to cryptocurrency forum when the face losses via scams. Even though I think that wasn't a bad idea to explore the forum that experience because now it can help at least that person to be aware from the scammers.
Actually these forum communities main purpose is also to help each other by giving information as well these things were also included on it.
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For example if I'm looking to choose an exchange right now, I'd be looking for information that points towards safety. For example, the article that talked about Bitget userbase increasing by 400% in 2024 shows that a lot of people trust the exchange and that can't be a coincidence.
Well this is not a good thing to keep in mind before considering a exchange good because we should see their audits latest ones and their non custodial wallet technologies if they have made that public because recently bybit had a big exploit in their hardware wallets which was multi sig and still hackers get their hands on the funds.
How and which technology the Bybit was using, we still don't know many things these big exchanges are playing by a general expression I am getting from this is, we should not use one exchange only, like bybit did not held all of its funds in one hardware wallet, we have to diversify our assets into different exchanges so if one would go down the other will support us.
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What you said is very true that a forum like this will help us a lot in trouble that may occur due to scams that may be with by them, Because At the forum there is an in-depth discussion of what happens with scams, so that we can avoid it. At least we can discuss many problems that occur so that what we fear can be avoided and not experienced, because scammers are always targeting at any time
We have a lot of topics and information in this forum. So we can update information any time we need. Moreover it is about scams, we have some thread about updated scams. If we are active in this forum, we can should know it easily.
Actually, we also can get the information ourselves if we are googling. Just look for the update of current scam cases. We can get the information from varied sources. But make sure that we are reading from reliable sources for the valid news.
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What you said is very true that a forum like this will help us a lot in trouble that may occur due to scams that may be with by them, Because At the forum there is an in-depth discussion of what happens with scams, so that we can avoid it. At least we can discuss many problems that occur so that what we fear can be avoided and not experienced, because scammers are always targeting at any time
But the hardest truth is most of the people come to cryptocurrency forum when the face losses via scams. Even though I think that wasn't a bad idea to explore the forum that experience because now it can help at least that person to be aware from the scammers.
Actually these forum communities main purpose is also to help each other by giving information as well these things were also included on it.
I agree, that vigilance must always be increased against the many frauds that are currently happening, so it's not wrong to continue to be able to join forums like this, because all possible discussions can be in the forum, and you can also use the mechanism to ask questions if it is really needed for enlightenment.
Many already understand the main purpose of a community like this, but not a few are still deceived because they don't understand it well enough.
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X has both good and bad stuff and you wouldn't know if some so called 'good' handles prior, start posting stuff to scam their folllowers, so I personally trust forums more as comments are quick to point out scummy stuff and there are also Sherlock Holmes types personalities who look if account changed hands.
Twitter/X is the worst place to learn about new cryptocurrencies. It can be used to get updates on already established and consolidated projects, but it is not useful for much else. In fact, more scams appear every day on that platform with verified accounts. That's a sign that, like Facebook, it doesn't care too much about its users to sell advertising. Forums and pages about new launches (ICO, IEO) are safer sites with much more information available.
If there are newbies here, I will echo what he said. If you're a newbie, please, please don't go on Twitter.
For me, Twitter/X is becoming the next Telegram/Discord already.
It's the home for thousand of scammers, and scamming there is quite easier. Duplicating the handles with a bit of a tweaks of those legit and popular people are very easy. I mean they can just change some letters, and they're good to go. Don't rely your decision based on what you're seeing in Twitter. Twitter on the other hand doesn't seem to care about how rampant scams is on the platform since it's happening in every social media platforms.
This forum, and some legit people are the ones that can follow, and as for Twitter, I'm not saying that all of the people out there are scammers because there are still some who are worthy to follow at least. @WatcherGuru is one. :D
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I agree, that vigilance must always be increased against the many frauds that are currently happening, so it's not wrong to continue to be able to join forums like this, because all possible discussions can be in the forum, and you can also use the mechanism to ask questions if it is really needed for enlightenment.
Many already understand the main purpose of a community like this, but not a few are still deceived because they don't understand it well enough.
These community I mean the forum is always helpful for those who were really seeking for knowledge about the cryptocurrency but what I said in my previous post that most of the people just their journey on these forum or community when they face losses or get scammed.
But I think peoples should focus on these types of community before making any investment on any platform and there is lots of people who already maked many articial and tools to check about a project that is scammer or not.
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These community I mean the forum is always helpful for those who were really seeking for knowledge about the cryptocurrency but what I said in my previous post that most of the people just their journey on these forum or community when they face losses or get scammed.
But I think peoples should focus on these types of community before making any investment on any platform and there is lots of people who already maked many articial and tools to check about a project that is scammer or not.
Actually, there are some discussion communities about crypto, exchanging information and so on, including experiences. Even exchanging strategies, predictions, and others. In some forums like telegram, I often find it.
But yes, as you said, there are some people who only focus on some of the experts conveyed by the forum or group. Especially those who only relate to everything they think can provide benefits. while if there is other important information, they often even ignore it. Well, when they lose, they just ask what happened or some other things.
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I agree, that vigilance must always be increased against the many frauds that are currently happening, so it's not wrong to continue to be able to join forums like this, because all possible discussions can be in the forum, and you can also use the mechanism to ask questions if it is really needed for enlightenment.
Many already understand the main purpose of a community like this, but not a few are still deceived because they don't understand it well enough.
Scams have thrived to keep up with the crypto market: they are sophisticated, professional and seem trustworthy. There are many forms of scams in the market, but I will focus on talking about scam projects.
To avoid these projects, investors only need to have enough knowledge about the market and restrain their greed. They can choose tokens that have been listed on top CEXs to avoid silly mistakes such as believing in the promises of scammers about the future of new tokens. We know Tron blockchain and TRX token, but many investors were introduced to TRONX token in 2020. They invested in this silly token and lost money!
The simplest way is that investors can ask questions about those tokens on the AltcoinsTalks forum. The community has greater power than 1 individual, we will have the opportunity to discuss and warn about scam tokens in this market.
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Avoiding memecoins is one way to protect yourself from scams in the industry, a lot of memecoins are scams created by people who want to make money off those who are going to buy it. I also recommend using a cold wallet, because anything online is prone to hacking, i should also add that you should not fall for anything that looks too good to be true, because it is probably a scam.
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Actually, there are some discussion communities about crypto, exchanging information and so on, including experiences. Even exchanging strategies, predictions, and others. In some forums like telegram, I often find it.
But yes, as you said, there are some people who only focus on some of the experts conveyed by the forum or group. Especially those who only relate to everything they think can provide benefits. while if there is other important information, they often even ignore it. Well, when they lose, they just ask what happened or some other things.
I would say that forum is much better from the telegram group or the channels at least here scammer couldn't go away until they came with another named. But here most of the people will aware a person even if a person don't about that they will investigate and then they will help you by the proper information, I won't say that there is no false information but here you will found lots of the reputable member who were from the early age of the crypto industry. Those were also helpful to provide the new comer so I think using forum for gaining and exploring knowledge is much time better.
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The very best way to stay out of scam is staying updated with every needful information required in whatsoever you want to do in the crypto community. Joining communities that provides information, and you can ask that which desire the information will give you an edge. The more we use the internet, the more we know more things related to it.
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You will only fall victim to scams if you are careless, especially if you do not verify a link before entering it. Many cryptos are impossible to hack especially when you use a decentralized quality. Hackers can hack your wallet only when you enter a phishing link and connect your wallet. So I always use multiple wallets and use one wallet as main wallet that wallet never connect anywhere. I think this is the only good way to avoid hacking
And always control your greed only then you will be safe from scams. Because you face a scammer only when you covet something
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Avoiding memecoins is one way to protect yourself from scams in the industry, a lot of memecoins are scams created by people who want to make money off those who are going to buy it. I also recommend using a cold wallet, because anything online is prone to hacking, i should also add that you should not fall for anything that looks too good to be true, because it is probably a scam.
memes are obvious scams but do people want to stay away from it? No! This shows that people love what kills them. It's so sad that the total volume that is coming from meme coins traded, is more than active altcoins, if truly meme coins are having similar number of altcoins, exchanges will consider listing of altcoins everyday than utility coins.
There is nothing you can say that will stop people from buying meme coins. I saw a wallet of one lady with many meme coins all trash in her phantom wallets and she is hoping that one day, there is one that will change her life and I just smile and scroll pass her page, she doesn't know anything yet until it's time.
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Fo you to avoid scams you must have a thorough research and always verify the websites or projects before investing or giving any sensitive information. Also avoid clicking suspicious links or downloading unverified apps or sharing you seed phrase with anyone. Scammers always impersonate support teams or influencers so never trust unsolicited messages asking for funds or private information. Always be cautious of "guaranteed profit" schemes, fake giveaways and upfront payments. ALWAYS research before investing, if something seems too good to be true, it usually is.
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memes are obvious scams but do people want to stay away from it? No! This shows that people love what kills them. It's so sad that the total volume that is coming from meme coins traded, is more than active altcoins, if truly meme coins are having similar number of altcoins, exchanges will consider listing of altcoins everyday than utility coins.
I think meme coin generally use standard blockchain protocols but unlike cryptocurrency such as like Bitcoin and Ethereum, even they have no serious financial or technological purpose. So for investors the profit potential of meme coin journey is low but if a meme coin survives in the market for a long time then there is potential of big profit. Moreover, the real purpose of most meme coin is to speculate that users create or buy them in the hope that their value will increase and they can make a lot of money very quickly. Even though it is very profitable but at some point the investor gets disappointed and loses huge amount of money.
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You will only fall victim to scams if you are careless, especially if you do not verify a link before entering it. Many cryptos are impossible to hack especially when you use a decentralized quality. Hackers can hack your wallet only when you enter a phishing link and connect your wallet. So I always use multiple wallets and use one wallet as main wallet that wallet never connect anywhere. I think this is the only good way to avoid hacking
That's the first step we should do every time to visit every new site but most of the people in the network don't follow the process we should do.
Like I always prefer to use some malware checker website like I can say virustotal could be one of the great tool to check out the website we visit specially if there is any phishing link this will show you the stats.
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That's the first step we should do every time to visit every new site but most of the people in the network don't follow the process we should do.
Like I always prefer to use some malware checker website like I can say virustotal could be one of the great tool to check out the website we visit specially if there is any phishing link this will show you the stats.
Fake site are the Genesis of all the problems we see in crypto but there is a catch with the ones you also trust. We are just random end users and we don't know how some platforms that claim to be legit operate and code their smart contracts and you don't even know what the contract says but we are just interacting because we trust them but it's all risk.
We should be careful of connecting our wallet with different website because when you becomes hack, you wouldn't know the one to trace or know where it was vulnerable. Make sure to disable or disconnected your wallets immediately after used from some website.
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We should be careful of connecting our wallet with different website because when you becomes hack, you wouldn't know the one to trace or know where it was vulnerable. Make sure to disable or disconnected your wallets immediately after used from some website.
That's also make sense.Because sometime even if we use the anti-malware tool for identifying a website is have malware or not and if the result we comes there is no malware even we can face scam by only trusting them.
That is why I also prefer to analyze by multiple trusted sources.
And always make our self far away from those website who were giving mouthwatering offers and the others things in high rate.
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That's also make sense.Because sometime even if we use the anti-malware tool for identifying a website is have malware or not and if the result we comes there is no malware even we can face scam by only trusting them.
Yeah, relying on tools like that isn't a good idea if we can't identify how a phishing website works. I used a VPN with an anti-malware/anti-phishing block list but the list is always outdated. I can find new phishing ads that aren't added to the list after a few days. You could argue it happens because my VPN provider is not that good, but it can happen to any service IMO. We can still use them to save time but we should keep up to date with security news so we can identify them on our own too.
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We should be careful of connecting our wallet with different website because when you becomes hack, you wouldn't know the one to trace or know where it was vulnerable. Make sure to disable or disconnected your wallets immediately after used from some website.
Especially those who are currently participating in telegram gaming and various airdrops are connecting their wallets to many sites which is really dangerous for the fund. We should create a new wallet to participate in such airdrops then there will be less chance of scam. Since the issue of scams in crypto is very old, it is necessary to have a strong position in those areas where the risk of scams is high.
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Yeah, relying on tools like that isn't a good idea if we can't identify how a phishing website works. I used a VPN with an anti-malware/anti-phishing block list but the list is always outdated. I can find new phishing ads that aren't added to the list after a few days. You could argue it happens because my VPN provider is not that good, but it can happen to any service IMO. We can still use them to save time but we should keep up to date with security news so we can identify them on our own too.
At the end of the day the main summarize is even no matter how you are spending on these anti mal-aware tools we must have also self awareness to verify that from multiple sources.
But I will also say using these tools would help you to be aways from most of the scams sites or the phising site. Both should be in our head.
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If there are newbies here, I will echo what he said. If you're a newbie, please, please don't go on Twitter.
For me, Twitter/X is becoming the next Telegram/Discord already.
It's the home for thousand of scammers, and scamming there is quite easier. Duplicating the handles with a bit of a tweaks of those legit and popular people are very easy. I mean they can just change some letters, and they're good to go. Don't rely your decision based on what you're seeing in Twitter. Twitter on the other hand doesn't seem to care about how rampant scams is on the platform since it's happening in every social media platforms.
This forum, and some legit people are the ones that can follow, and as for Twitter, I'm not saying that all of the people out there are scammers because there are still some who are worthy to follow at least. @WatcherGuru is one. :D
The truth is that I don't "follow" anyone for the sole purpose of giving me crypto advice. For better or worse I have always followed my own criteria when investing without letting opinions (often paid opinions) influence my way of acting. This is precisely what many profiles on X/Twitter take advantage of, the little or no knowledge of newbies who come to this industry wanting to earn millions in hours, without thinking that this is the worst path they can take. It's okay and it's always good to hear and read opinions, but when we allow those decisions to be ours as well, we run the risk that 99% of the time it will end badly.
Our funds, our decision, our future.
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Avoiding memecoins is one way to protect yourself from scams in the industry, a lot of memecoins are scams created by people who want to make money off those who are going to buy it. I also recommend using a cold wallet, because anything online is prone to hacking, i should also add that you should not fall for anything that looks too good to be true, because it is probably a scam.
Agree. There are too many scams on the new meme coin projects. Even if we want to invest in meme coins, it will be safe to choose top meme coins such as Dogecoin or PEPE. However, I personally never feel interested in meme coins because there is no clear fundamental on them. We know that meme coins basically relies on the hype, there is no fundamental at all. So, it is reasonable that scammers easily made meme coin scams.
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Avoiding memecoins is one way to protect yourself from scams in the industry, a lot of memecoins are scams created by people who want to make money off those who are going to buy it. I also recommend using a cold wallet, because anything online is prone to hacking, i should also add that you should not fall for anything that looks too good to be true, because it is probably a scam.
Agree. There are too many scams on the new meme coin projects. Even if we want to invest in meme coins, it will be safe to choose top meme coins such as Dogecoin or PEPE. However, I personally never feel interested in meme coins because there is no clear fundamental on them. We know that meme coins basically relies on the hype, there is no fundamental at all. So, it is reasonable that scammers easily made meme coin scams.
Currently, there are indeed many scams on meme coin projects and I totally agree with that, especially with the growing number of airdrops/mini-telegrams, most of which are scams and never end to continue growing.
That's right, meme coins do depend on hype. If there is none, they will not be able to increase properly and will even slump, there are even many scams on meme coins.
I think if there is a choice to be made for meme coins, it might be doge. I also like doge and have saved a little of it even though I don't try to save others.
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Protecting ourselves from scam has to do with us and our way or interactions when it comes to online opportunities which we often run after, because not everything that glitters are gold, we need more deeper search in knowing nthe mindset behind every offers we are coming across online, because not all of them seems to be an opportunity for us, if we fail to take some control measures, then we are going to be among those that have their ugly experience to share about scam.
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Protecting ourselves from scam has to do with us and our way or interactions when it comes to online opportunities which we often run after, because not everything that glitters are gold, we need more deeper search in knowing nthe mindset behind every offers we are coming across online, because not all of them seems to be an opportunity for us, if we fail to take some control measures, then we are going to be among those that have their ugly experience to share about scam.
These were also good points.
Because even if we use the tools by purchasing with the thousand dollars that will just waste if we don't have the habhit to good interaction with the internet. Because even if one click could take us on a disaster situation. But I also think that even using some tools for verifying is also good practice.
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Protecting ourselves from scam has to do with us and our way or interactions when it comes to online opportunities which we often run after, because not everything that glitters are gold, we need more deeper search in knowing nthe mindset behind every offers we are coming across online, because not all of them seems to be an opportunity for us, if we fail to take some control measures, then we are going to be among those that have their ugly experience to share about scam.
What often lead to scams most of the time are goodies, people don't know that there is absolutely nothing in this life that is free, you will have to give something to have something but some people that are not used to the internet don't know some of this things, because they have heard about how sweet it's to make money from internet, they feels it's that way in everything you do here.
Anytime you comment on X that you probably lose access to your wallets, you will can see like 10 reply as support desk to help you recover your wallet. I believe it's because people fall for all this scams that's why they keep repeating this them else they would have stop.
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However, I personally never feel interested in meme coins because there is no clear fundamental on them. We know that meme coins basically relies on the hype, there is no fundamental at all. So, it is reasonable that scammers easily made meme coin scams.
Yeah, that is the same reason i am also not interested in them, i know that there are a lot of memecoins investors, and these investors know that memecoins have no value, but they are willing to take the risk. I don't fancy taking risks with pump and dump coins that have no usefulness, but goodluck to those who can.
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However, I personally never feel interested in meme coins because there is no clear fundamental on them. We know that meme coins basically relies on the hype, there is no fundamental at all. So, it is reasonable that scammers easily made meme coin scams.
Yeah, that is the same reason i am also not interested in them, i know that there are a lot of memecoins investors, and these investors know that memecoins have no value, but they are willing to take the risk. I don't fancy taking risks with pump and dump coins that have no usefulness, but goodluck to those who can.
But indeed, there are not a few who do speculation about buying meme coins for the purpose of getting a big surprise so that they get the desired profit. Even though I am the same as you that there is no interest at all in meme coins and only holding doge and even then not much.
I think that those who don't take risks like you certainly deserve not to invest in meme coins because they are very vulnerable to falling drastically.
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However, I personally never feel interested in meme coins because there is no clear fundamental on them. We know that meme coins basically relies on the hype, there is no fundamental at all. So, it is reasonable that scammers easily made meme coin scams.
Yeah, that is the same reason i am also not interested in them, i know that there are a lot of memecoins investors, and these investors know that memecoins have no value, but they are willing to take the risk. I don't fancy taking risks with pump and dump coins that have no usefulness, but goodluck to those who can.
If there are some meme coins that I'm interested with, that will be only the top meme coins or at least those at the top 100 in terms of market cap. Right now, who cares about fundamentals? Meme coins are all about hype, and the fact that you can make money in a short amount of time makes it interesting to invest with... but only for those newbie and greedy investors of course.
Like most here, I also don't have interest in investing into most of the meme coins out there. I don't want to get stressed about finding a meme coin that could give me huge profits blah blah. I believe the stress isn't worth the reward that I could get hence, I'm only focusing on the top altcoins out there. Lesser stress.
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If there are some meme coins that I'm interested with, that will be only the top meme coins or at least those at the top 100 in terms of market cap.
lots of people take their chances when it comes to memecoins because when you get lucky you could score some really big profit if you decide to invest on the top 100 memecoins it means other people already have gotten to it when the ideal situation is for you to invest into a project that not a lot of people know yet so you can acquire many and sell for huge when people have caught up
Right now, who cares about fundamentals? Meme coins are all about hype, and the fact that you can make money in a short amount of time makes it interesting to invest with... but only for those newbie and greedy investors of course.
good fundamentals give more possibilities that a memecoin can last for long without it memecoin will only run on hype and would eventually die so timing is crucial
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~snip~
For example if I'm looking to choose an exchange right now, I'd be looking for information that points towards safety. For example, the article that talked about Bitget userbase increasing by 400% in 2024 shows that a lot of people trust the exchange and that can't be a coincidence.
~snip~
Incidentally, I have never registered on the Bitget exchange and to be honest, I don't know the reputation of the Bitget market. For centralized exchanges, I only rely on Binance and my local market.
When talking about Scammers in crypto, there are many types, some are spread via Telegram chat, pishing websites, fake smart contracts, runaway devs, etc. So, if we are in the crypto environment, then we are definitely in the environment of these Scammers.
One way to avoid these Scammers is to continue communicating with friends in crypto who are trusted and have a good reputation, whether on forums or in the real world.
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lots of people take their chances when it comes to memecoins because when you get lucky you could score some really big profit if you decide to invest on the top 100 memecoins it means other people already have gotten to it when the ideal situation is for you to invest into a project that not a lot of people know yet so you can acquire many and sell for huge when people have caught up
Unfortunately, most of them are not aware of the potential risks on meme coins. They only follow other people to invest in meme coins, they only think that meme coins can easily increase their prices. Sadly, many meme coins keep declining their prices when there are many people involved. The team/develop of meme coins get enough money, so they leave the projects. I see too many similar cases that the team/developer dissapeared.
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lots of people take their chances when it comes to memecoins because when you get lucky you could score some really big profit if you decide to invest on the top 100 memecoins it means other people already have gotten to it when the ideal situation is for you to invest into a project that not a lot of people know yet so you can acquire many and sell for huge when people have caught up
Unfortunately, most of them are not aware of the potential risks on meme coins. They only follow other people to invest in meme coins, they only think that meme coins can easily increase their prices. Sadly, many meme coins keep declining their prices when there are many people involved. The team/develop of meme coins get enough money, so they leave the projects. I see too many similar cases that the team/developer dissapeared.
Maybe not unaware, but there are those who speculate that they think what is taken in choosing meme coins is for the purpose of getting unexpected profits, aka there will be surprises.
But as you also said that many meme coins actually fall in price when many are involved in them. What is very unfortunate is, when the developer team leaves the project, and it is certain that the price will be eroded, and it is not impossible that it will no longer be valuable. I think you are right that there have been many cases like this, and they continue to happen again and many are still speculating about it.
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~snip~
One way to avoid these Scammers is to continue communicating with friends in crypto who are trusted and have a good reputation, whether on forums or in the real world.
That would be the normal thing to do. Talking to people we know, looking for information on forums to get a basic idea of what memecoins are like. But unfortunately, many people don't want to spend their time learning and are just looking to make quick money, the faster the better. And that will always be the biggest problem, which really affects not only memecoins, but any cryptocurrency, although as we already know memecoins are the ones that fall first. The desire to make money quickly is what causes investors to lose their money quickly most of the time.
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Unfortunately, most of them are not aware of the potential risks on meme coins. They only follow other people to invest in meme coins, they only think that meme coins can easily increase their prices. Sadly, many meme coins keep declining their prices when there are many people involved. The team/develop of meme coins get enough money, so they leave the projects. I see too many similar cases that the team/developer dissapeared.
Almost meme coins trader just following the other when investing in meme coins without make own research how bigger potential in the future, usually the meme coins trader entry too late after the guider have taking profit early and make his follower become the place for selling their meme coins assets.
Actually trading with meme coins need how early for entry without make any research yet, if late entry at meme coins just take loss only due the early investors will sell their meme coins without any ideas for long term holding.
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Unfortunately, most of them are not aware of the potential risks on meme coins. They only follow other people to invest in meme coins, they only think that meme coins can easily increase their prices. Sadly, many meme coins keep declining their prices when there are many people involved. The team/develop of meme coins get enough money, so they leave the projects. I see too many similar cases that the team/developer dissapeared.
Almost meme coins trader just following the other when investing in meme coins without make own research how bigger potential in the future, usually the meme coins trader entry too late after the guider have taking profit early and make his follower become the place for selling their meme coins assets.
Actually trading with meme coins need how early for entry without make any research yet, if late entry at meme coins just take loss only due the early investors will sell their meme coins without any ideas for long term holding.
It seems that it can be ascertained that what you say has been done by those who really want to invest in the meme coin. There is no research or anything to do and usually only follows the flow where many are discussed, so it is not wrong that it's too late to be able to get the best thing in doing its execution.
If it's too late it is not surprising to get a loss because all who buy the beginning have begun to release and those who are new to investing in which prices may have dropped and usually the meme coins are difficult to increase again.
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It seems that it can be ascertained that what you say has been done by those who really want to invest in the meme coin. There is no research or anything to do and usually only follows the flow where many are discussed, so it is not wrong that it's too late to be able to get the best thing in doing its execution.
If it's too late it is not surprising to get a loss because all who buy the beginning have begun to release and those who are new to investing in which prices may have dropped and usually the meme coins are difficult to increase again.
It's not those who come late, but those who have weak hands who lose... making an entry in memecoin is really difficult... before the pump moment occurs, it is completely undetected, and the market's fast reaction will only create a flash pump... while if you wait too long, fomo has dropped, then no new investors will enter, this makes the coin stuck..
The popular rotation in crypto lately is a short rotation, nothing makes it last long, so when something has experienced a flash increase, it will be difficult to find the same increase in the same coin.. like, one coin one moment.... yes, this coin is usually a coin that has no fundamentals...
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It seems that it can be ascertained that what you say has been done by those who really want to invest in the meme coin. There is no research or anything to do and usually only follows the flow where many are discussed, so it is not wrong that it's too late to be able to get the best thing in doing its execution.
If it's too late it is not surprising to get a loss because all who buy the beginning have begun to release and those who are new to investing in which prices may have dropped and usually the meme coins are difficult to increase again.
It's not those who come late, but those who have weak hands who lose... making an entry in memecoin is really difficult... before the pump moment occurs, it is completely undetected, and the market's fast reaction will only create a flash pump... while if you wait too long, fomo has dropped, then no new investors will enter, this makes the coin stuck..
The popular rotation in crypto lately is a short rotation, nothing makes it last long, so when something has experienced a flash increase, it will be difficult to find the same increase in the same coin.. like, one coin one moment.... yes, this coin is usually a coin that has no fundamentals...
I think what you say is something that makes sense: that rotation will always be short, so it will not be too long to increase in the same coin.
The possibility is that we will always be late, because when Fomo occurs, it does not do execution quickly and what exists is that the situation has come down, and we just do, and it is not surprising that the delay has occurred so that it cannot produce exactly where usually when it is certain, it will give the best results.
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Actually trading with meme coins need how early for entry without make any research yet, if late entry at meme coins just take loss only due the early investors will sell their meme coins without any ideas for long term holding.
Trading with meme coins is as risky as trading in general when you don't have any knowledge at trading at all.
Trading with meme coins especially those new ones are very risky that those early investors are the ones that will benefit the most from it. The question if you're an investor is that which meme coin tokens will sky rocket.
You can buy 20 new meme coins that have been created, and you might not get lucky to make a profit on even just one of them. You're lucky if you find one gem though and made profit from it, but it's hard and it's overwhelming to do that. It's not for those who faints quickly and not for those who have small capital. Trading with meme coins is just like gambling but this time, it isn't 50/50, but the chances of you losing your money is way higher than that of winning.
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Trading with meme coins is as risky as trading in general when you don't have any knowledge at trading at all.
Trading with meme coins especially those new ones are very risky that those early investors are the ones that will benefit the most from it. The question if you're an investor is that which meme coin tokens will sky rocket.
You can buy 20 new meme coins that have been created, and you might not get lucky to make a profit on even just one of them. You're lucky if you find one gem though and made profit from it, but it's hard and it's overwhelming to do that. It's not for those who faints quickly and not for those who have small capital. Trading with meme coins is just like gambling but this time, it isn't 50/50, but the chances of you losing your money is way higher than that of winning.
In fact, investing in memecoins is tempting. The hype caused by $trump is no joke. The first people who bought early were the first to profit, but it lost more than half of its value and the hype practically doesn't exist anymore...
Memecoin investors are always chasing for quick riches and high doses of dopamine, but I don't blame them, because the crypto market is practically like that. Still there are solid and healthy projects that don't appreciate as much in a very short space of time as memecoins, but it's a constant appreciation/trend.
I've seen people lose a lot of money (all their money) in memecoins in a crappy and unreliable project, because the person didn't pay attention to all the details, was blinded by dopamine, the owners of the memecoin or the people who held most of the memecoin's market cap dumped everything on the newbies and walked away with everyone's money!
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Actually trading with meme coins need how early for entry without make any research yet, if late entry at meme coins just take loss only due the early investors will sell their meme coins without any ideas for long term holding.
Trading with meme coins is as risky as trading in general when you don't have any knowledge at trading at all.
Trading with meme coins especially those new ones are very risky that those early investors are the ones that will benefit the most from it. The question if you're an investor is that which meme coin tokens will sky rocket.
You can buy 20 new meme coins that have been created, and you might not get lucky to make a profit on even just one of them. You're lucky if you find one gem though and made profit from it, but it's hard and it's overwhelming to do that. It's not for those who faints quickly and not for those who have small capital. Trading with meme coins is just like gambling but this time, it isn't 50/50, but the chances of you losing your money is way higher than that of winning.
All trading always has risks if we do not have a basis for analyzing well, especially with meme coins, which are indeed very fast changing in every movement, because there is indeed no ability to survive well without the support of the community and big people. I agree that those who trade with meme coins from the start will always benefit and will get the best value if the meme coin is accepted by the market, and it is not always well-received because meme coins have characteristics that are always unreliable.
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Maybe not unaware, but there are those who speculate that they think what is taken in choosing meme coins is for the purpose of getting unexpected profits, aka there will be surprises.
But as you also said that many meme coins actually fall in price when many are involved in them. What is very unfortunate is, when the developer team leaves the project, and it is certain that the price will be eroded, and it is not impossible that it will no longer be valuable. I think you are right that there have been many cases like this, and they continue to happen again and many are still speculating about it.
You mean they are aware of the risks but they are trying luck for getting big profits from meme coins? Some people may be quite aware, unfortunately there are many people who don't realize it. They just follow the hype on meme coins, they think it is easy to earn profits from meme coins. I have seen some people around me that doing this way. They are misunderstanding about the meme coins, they think it is the same as those fundamental coins.
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Unfortunately, most of them are not aware of the potential risks on meme coins. They only follow other people to invest in meme coins, they only think that meme coins can easily increase their prices. Sadly, many meme coins keep declining their prices when there are many people involved. The team/develop of meme coins get enough money, so they leave the projects. I see too many similar cases that the team/developer dissapeared.
Almost meme coins trader just following the other when investing in meme coins without make own research how bigger potential in the future, usually the meme coins trader entry too late after the guider have taking profit early and make his follower become the place for selling their meme coins assets.
Actually trading with meme coins need how early for entry without make any research yet, if late entry at meme coins just take loss only due the early investors will sell their meme coins without any ideas for long term holding.
What caught people investing in memecoin is because of the hype? Remove the hype from meme coins; people won't blindly invest in memecoins without carrying out their own research because the crowd is no longer having a rush to invest in memecoins out of hype. There's nothing like hype to generate the rush of investment on memecoins.
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What caught people investing in memecoin is because of the hype? Remove the hype from meme coins; people won't blindly invest in memecoins without carrying out their own research because the crowd is no longer having a rush to invest in memecoins out of hype. There's nothing like hype to generate the rush of investment on memecoins.
Yes, hype on meme coin is the only thing that lead people to meme coin investment. Well, we can't remove the hype, we only can't stop ourselves from buying meme coins. We know that the hype can happen at any time, it also can dissapear very soon. This meme coin is surely a very risky investment but people may be not aware of this. I'm sure the people who understand meme coins well, they won't rush to invest in meme coins. They also won't be influenced easily with the hype of meme coins.
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What caught people investing in memecoin is because of the hype? Remove the hype from meme coins; people won't blindly invest in memecoins without carrying out their own research because the crowd is no longer having a rush to invest in memecoins out of hype. There's nothing like hype to generate the rush of investment on memecoins.
Yes, hype on meme coin is the only thing that lead people to meme coin investment. Well, we can't remove the hype, we only can't stop ourselves from buying meme coins. We know that the hype can happen at any time, it also can dissapear very soon. This meme coin is surely a very risky investment but people may be not aware of this. I'm sure the people who understand meme coins well, they won't rush to invest in meme coins. They also won't be influenced easily with the hype of meme coins.
The main problem is that Hype Meme Coin sometimes people forget that the thing that is done when holding a meme coin is that it can be something wrong, but seeing many who are successful and tempted to be able to enjoy from the hype meme coin, and it is difficult to avoid people who really want to do that, even though there are actually many experiences when they intend to hold the meme coin.
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I believe that the only way to be protected in crypto is to use CEX and trade only top altcoins or Bitcoin. Trading on the side is dangerous, connection walled to shady pages is dangerous, buying any altcoin without research is dangerous, buying meme-coins is simply dangerous, clicking on or opening unfamiliar files is dangerous. The easies way to get scammed imho is to do anything in rush. You rush, forget about being cautious and get into troubles.
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I believe that the only way to be protected in crypto is to use CEX and trade only top altcoins or Bitcoin.
Are you joking here or are you serious. Not your keys, not your coins, your funds must be stored in a self custodial wallet, that is the first point in safely storing your coins. If you have your coins stored in a centralized exchange, i recommend you move it out immediately and put it in your own custody.
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Are you joking here or are you serious. Not your keys, not your coins, your funds must be stored in a self custodial wallet, that is the first point in safely storing your coins. If you have your coins stored in a centralized exchange, i recommend you move it out immediately and put it in your own custody.
I think the reason why the guy said that keeping the funds in a CEX is safe is that sometimes, some centralized exchanges insure the funds of their customers, which means that if the exchange gets compromised and your funds get stolen, you get compensated for it because your account didn't get compromised individually.
However, that isn't enough to say that keeping your funds in a centralized exchange is a good thing, even if they stay safe in theory. If someone uses a non-custodial wallet and keeps their seed phrase and private keys safe, they wouldn't get compromised anyway. If you stay reckless with your wallet and the assets, then of course, exploiters will find a way to reach them.
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Are you joking here or are you serious. Not your keys, not your coins, your funds must be stored in a self custodial wallet, that is the first point in safely storing your coins. If you have your coins stored in a centralized exchange, i recommend you move it out immediately and put it in your own custody.
I think the reason why the guy said that keeping the funds in a CEX is safe is that sometimes, some centralized exchanges insure the funds of their customers, which means that if the exchange gets compromised and your funds get stolen, you get compensated for it because your account didn't get compromised individually.
However, that isn't enough to say that keeping your funds in a centralized exchange is a good thing, even if they stay safe in theory. If someone uses a non-custodial wallet and keeps their seed phrase and private keys safe, they wouldn't get compromised anyway. If you stay reckless with your wallet and the assets, then of course, exploiters will find a way to reach them.
What you are saying is that it seems that it has been done so far to reduce the fear that occurs if there is indeed a hack and there is compensation by insuring what we have, and this experience has been proven so that no one is afraid to do it to store it because they feel safe.
Actually, it all comes back to us that if we trust, then there is no excessive worry about keeping it there. Even if we keep it well but ignore something very secret, it can be taken by other people. What's the difference? It will be the same.
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I believe that the only way to be protected in crypto is to use CEX and trade only top altcoins or Bitcoin.
Are you joking here or are you serious. Not your keys, not your coins, your funds must be stored in a self custodial wallet, that is the first point in safely storing your coins. If you have your coins stored in a centralized exchange, i recommend you move it out immediately and put it in your own custody.
Not, I am not joking. You dont need to educate me with "not your keys" and safety measure stories. If you have your own experience with exchanges, that is great, but I have my own. Since 2017 I had zero issues with top CEX, and never lost a cent there. Dont forget that we talk about scams here, not hacks. There is only a tiny, very tiny chance that scam altcoin will get listed on CEX, or clicks or connection of your own wallet would get you into troubles.
Or you think that if I deposit money on Binance for example, I would get scammed and my money would be gone? Or if I buy BTC there it will be a crap copycat token on Polygon blockchain with name BTC ? Or if I an altcoin there, within an hours its value will drop to zero and dev would disappear?
If we get back to "not your keys, not your funds" - can you remind us when was the last time you were scammed by top cex exchange?
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Currently, there are indeed many scams on meme coin projects and I totally agree with that, especially with the growing number of airdrops/mini-telegrams, most of which are scams and never end to continue growing.
That's right, meme coins do depend on hype. If there is none, they will not be able to increase properly and will even slump, there are even many scams on meme coins.
I think if there is a choice to be made for meme coins, it might be doge. I also like doge and have saved a little of it even though I don't try to save others.
We already have many scam projects since many years ago. That's why we must be careful to choose crypto coins, especially those new coins. It becomes more difficult to determine the scam projects, the scammer is getting smarter to deceive people. They sometimes made scam projects with a very convincing way. Well, meme coins is one of the major scam projects. There are many scams on meme coins. If we aren't really sure with the new meme coins, it is better to stay away of them.
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Currently, there are indeed many scams on meme coin projects and I totally agree with that, especially with the growing number of airdrops/mini-telegrams, most of which are scams and never end to continue growing.
That's right, meme coins do depend on hype. If there is none, they will not be able to increase properly and will even slump, there are even many scams on meme coins.
I think if there is a choice to be made for meme coins, it might be doge. I also like doge and have saved a little of it even though I don't try to save others.
We already have many scam projects since many years ago. That's why we must be careful to choose crypto coins, especially those new coins. It becomes more difficult to determine the scam projects, the scammer is getting smarter to deceive people. They sometimes made scam projects with a very convincing way. Well, meme coins is one of the major scam projects. There are many scams on meme coins. If we aren't really sure with the new meme coins, it is better to stay away of them.
Yes, scams are not new. but they have happened many times, both with natural and new methods. The point is that scams usually have several characteristics and they often have similarities. things that are too good to be true, being asked to transfer first, the presence of click bait links or phishing links, and several others that seem unreasonable. so we personally have to be much more careful.
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Currently, there are indeed many scams on meme coin projects and I totally agree with that, especially with the growing number of airdrops/mini-telegrams, most of which are scams and never end to continue growing.
That's right, meme coins do depend on hype. If there is none, they will not be able to increase properly and will even slump, there are even many scams on meme coins.
I think if there is a choice to be made for meme coins, it might be doge. I also like doge and have saved a little of it even though I don't try to save others.
We already have many scam projects since many years ago. That's why we must be careful to choose crypto coins, especially those new coins. It becomes more difficult to determine the scam projects, the scammer is getting smarter to deceive people. They sometimes made scam projects with a very convincing way. Well, meme coins is one of the major scam projects. There are many scams on meme coins. If we aren't really sure with the new meme coins, it is better to stay away of them.
Yes, scams are not new. but they have happened many times, both with natural and new methods. The point is that scams usually have several characteristics and they often have similarities. things that are too good to be true, being asked to transfer first, the presence of click bait links or phishing links, and several others that seem unreasonable. so we personally have to be much more careful.
The methods used have indeed been done often and always repeat what has been done and usually will be done again to carry out the fraud. It just depends on ourselves whether we are able to know what we want to do or not, because usually the actions that are done are things that are always repeated.
Agree with what you said that it is indeed more to be able to be careful with every fraud that always happens in order to avoid it.
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Currently, there are indeed many scams on meme coin projects and I totally agree with that, especially with the growing number of airdrops/mini-telegrams, most of which are scams and never end to continue growing.
That's right, meme coins do depend on hype. If there is none, they will not be able to increase properly and will even slump, there are even many scams on meme coins.
I think if there is a choice to be made for meme coins, it might be doge. I also like doge and have saved a little of it even though I don't try to save others.
We already have many scam projects since many years ago. That's why we must be careful to choose crypto coins, especially those new coins. It becomes more difficult to determine the scam projects, the scammer is getting smarter to deceive people. They sometimes made scam projects with a very convincing way. Well, meme coins is one of the major scam projects. There are many scams on meme coins. If we aren't really sure with the new meme coins, it is better to stay away of them.
The problem is how will you know a coin that wouldn't be a scam coin. I feel that's better to avoid all these coins and tokens so that we don't mistakenly fall into their hands. Bitcoin has been proven to be a unique coin and has a good foundation. It's better to only focus on bitcoin, only if you choose to gamble with your funds.
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If not for short term investment and quick profit making I don't see any reason why people invest in coins that they do not know much about. The crypto space is risky because there's a lot fake coins and tokens on the crypto market. However, if your intentions is to hold for the long run I suggest that you consider to invest on Bitcoin for your own safety.
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I'm sure telling you about how risky crypto and the crypto space is, would not be news as we've seen so many instances and examples in recent times.
At this point, I think the most important thing to know is how to ensure that you don't fall for these schemes, especially with projects you want to invest in or the exchanges.
For example if I'm looking to choose an exchange right now, I'd be looking for information that points towards safety. For example, the article that talked about Bitget userbase increasing by 400% in 2024 shows that a lot of people trust the exchange and that can't be a coincidence.
You can also check track records, quality of service etc, and this can help you make a decision. Of course this is not all to look out for, and I'd appreciate more examples regarding this.
Pointing at exchanges, the quantity of users doesn't determine the trust percentage of these exchanges. In most top exchanges I know about, users also scam themselves too. Everything you just have to know is how to be vigilant and understand the principle of not falling into these scams by not sharing what is private.
I don't know if you've heard of P2P scams.. they all happen in exchanges. So the quantity of users in an exchange can even create room for scammers.
Looking at projects.... You just have to make research (DYOR) and don't get carried away by the speech of the project team especially when it comes to presales.
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If not for short term investment and quick profit making I don't see any reason why people invest in coins that they do not know much about. The crypto space is risky because there's a lot fake coins and tokens on the crypto market. However, if your intentions is to hold for the long run I suggest that you consider to invest on Bitcoin for your own safety.
Indeed, what you said is what often happens in the crypto market, if you don't know the analysis well that there could be a lot of fraud that occurs if you want to invest.
Agree, bitcoin is the safest investment for now even for the long term, because bitcoin always has to go through a halving period in order to reach the next highest value.