Avoiding Scams For Beginners

[salad daging]

There are so many methods of fraud in crypto, from classic tricks to modern tricks that can be said to be difficult for us to identify, so we must remain vigilant against suspicious ones and always double-check with the correct verification so as not to fall into the trap of fraudsters who are trapping.

Would love for more people to share their tricks.
I always visit social platform X where there are also many fake sites that look legitimate, with so many promising this has also been a lot of victims including my own friend drained his wallet due to phishing sites.

[bounceback]

There are so many methods of fraud in crypto, from classic tricks to modern tricks that can be said to be difficult for us to identify, so we must remain vigilant against suspicious ones and always double-check with the correct verification so as not to fall into the trap of fraudsters who are trapping.

Would love for more people to share their tricks.
I always visit social platform X where there are also many fake sites that look legitimate, with so many promising this has also been a lot of victims including my own friend drained his wallet due to phishing sites.

Fake site always lead on the first line when searching on google, I believe its old trick from scammer how easily make their scam website get higher traffic and success make real site get under position on keyword search at google. I think more security when accessing some exchange or dapp check their twitter official and linked the website at their twitter profile.
Have many kinds of scammer trick make us loss assets from fake site, drained and hacking our wallet by sending scam token recently has higher values, take care your wallet and protect your self from all scam site still not stop by scammer to avoid us from scamming site.

[MrSpasybo]

Fake site always lead on the first line when searching on google, I believe its old trick from scammer how easily make their scam website get higher traffic and success make real site get under position on keyword search at google. I think more security when accessing some exchange or dapp check their twitter official and linked the website at their twitter profile.
Have many kinds of scammer trick make us loss assets from fake site, drained and hacking our wallet by sending scam token recently has higher values, take care your wallet and protect your self from all scam site still not stop by scammer to avoid us from scamming site.

I think investors are now more cautious about this type of scam because it has been warned everywhere. Checking the link should be done multiple times before we connect our wallet or use information from them. Bookmarks also work effectively in this case to avoid unfortunate mistakes.

It would be terrible if investors had to put real money into the market, trying to spend time and effort to invest and generate profits but end up losing all their crypto assets due to connecting their wallet to a fake site. I usually trust the links provided on Coinmarketcap or Coingecko to avoid fake sites.

[Asiska02]

1. Never listen to an offer which is too good to be true: usually you just almost nothing and you can earn a lot of bucks just have some capital and turn your money to someone else.

Scammers are knows to be sweet talked with their offers because they feel that’s the only way they can get to victimize their victims easily. Nothing comes for free in this cryptocurrency world, you just have to work for something before you can get a reward for it. When you’re not spending too much or offering something in return for a huge offer, just know that it is very likely that it’s untrue and you may be scammed.

 2. Scammers are now getting so creative and even ahead of times when it comes to their crafts so always do some search and think a lot of times before you made the big jump.

Creativity is the watch key of every scammer. New and innovative ideas is what they’re more focused on as victims are also getting wiser once beaten by them. So they always look for other means to try and outsmart their victims. So always be on the watch out for new trends in the market, so that you don’t fall into the wrong category of people that will scam you off your funds. Anything worth finding is not worth risking to scammers.

[sampoerna]

I am sure there can be more good advice on how to avoid scams and frauds...and I want you to share it here for all of us to learn on.

I will add some more:
1. Ignore any PM that claims to be from a CEO or a specific project and asks us to click on a link, install, and enter sensitive and important data.
2. Ignore any PM or DM that says they need your help to cash out their money
3. Ignore any promises that are too high and they ask you to send money first

[Hatchy]

I am sure there can be more good advice on how to avoid scams and frauds...and I want you to share it here for all of us to learn on.

Most times, why beginners get scammed is that they believe that making money online is very easy and fast. They fail to get the fact that there's no easy way to make money anywhere that why some stranger pulls out from ho where a pull off a scheme on them and steal theie funds. The best way to avoid being scammed as a beginner is to do proper research of any investment proposal you have been offered. Don't be fooled by mere talks about being rich over night.

[PrivateKayla]

Thank you for creating this topic I have familiar most of them on the list on the screenshot except the Rug pull scams. Can anyone explain it to me so that I can easily understood that. I am going to do google searching and I want also from some word from you guys.

A rug pull is a scam where token developers abandon a project and take off with investors' money. First, the developers will create and list a new crypto token on a decentralized exchange. They promote this heavily through social media, influencers, and promises of huge returns. The hype creates buzz and many people buy because of FOMO. When enough money is invested, the developers sell off their holdings which crashes the price. They've "pulled the rug" out from investors and left them with worthless tokens.

The Squid Game token is a concrete example of a rug pull. It was inspired by the TV series and heavily marketed. Just days after its launch, the developers sold their holdings and disappeared. The token's value dropped from $2,800 to zero.

[LogitechMouse]

There is no free money anywhere because big profits are what most scammers use to attract people.

That is part of it, i usually tell people that anything that looks too good to be true is probably a scam, until you can prove that it isn't. Greed is a major reason people get scammed, if you are not greedy you'll not fall for giveaway scams, you'll not fall for money doubling schemes, etc.

You can say that greed is one of the major reasons why there are investors that are still getting scammed, but let's add MISINFORMATION to the mix as well because right now and with how people use the internet now, the amount of misinformation that we are seeing online increases. We've seen videos on YouTube that are misleading these newbie investors therefore, there's a high chance that they might get scammed. We've seen people that are spreading false information online, and the ones that are falling to this traps are newbies.

Right now, I feel that self-learning became harder than what it was when I was still starting to learn crypto way back in 2017 because there are so much misinformation here and there.

[Crypto Library]

Thank you for creating this topic I have familiar most of them on the list on the screenshot except the Rug pull scams. Can anyone explain it to me so that I can easily understood that. I am going to do google searching and I want also from some word from you guys.

A rug pull is a scam where token developers abandon a project and take off with investors' money. First, the developers will create and list a new crypto token on a decentralized exchange. They promote this heavily through social media, influencers, and promises of huge returns. The hype creates buzz and many people buy because of FOMO. When enough money is invested, the developers sell off their holdings which crashes the price. They've "pulled the rug" out from investors and left them with worthless tokens.

The Squid Game token is a concrete example of a rug pull. It was inspired by the TV series and heavily marketed. Just days after its launch, the developers sold their holdings and disappeared. The token's value dropped from $2,800 to zero.

+1 thanks for your notice, I thought no one have seen this post of mine 

Anyway I have already explored about what is the rug pull and I get to know this these rug pulls scams we seen but I don't know the scams name.
I am also seeing that if we notice on the bounty campaigns and the airdrop most of the new projects are being end on the rug pull scamm like they take a safe exit after looting the peoples money.

[Aanuoluwatofunmi]

If we think we have acquired the required basic information and knowledge about the crypto network, then we still have more task ahead to do as a continuous process, this is on the security measures expected of us to take in other not to fall in for scam, there will be several attempts which people would have be making online to see that some fall their prey, but when we know how to identify such, we will always avoid them from happening.

[|MINER|]

If we think we have acquired the required basic information and knowledge about the crypto network, then we still have more task ahead to do as a continuous process, this is on the security measures expected of us to take in other not to fall in for scam, there will be several attempts which people would have be making online to see that some fall their prey, but when we know how to identify such, we will always avoid them from happening.

Yeap. Because If we look back to previous history then we will saw that the days gone the hacker or the scammers tooked new plan strategy to phishing the people and if we talk about the cryptocurrency then it is happening more here because of the anonymity.

I some seen some scamer who make trapped by exploiting sites like they have need to do minimum deposit then when people do deposit by the greed then the scammer run away with their money.

[libert19]

Scams on Twitter are rampant these days, it's good that projects have started to make tweet saying, 'this is last tweet of the thread' — otherwise the viewer wouldn't even be able to figure out the correct link and fall prey to scam.

[RockBell]

I think investors are now more cautious about this type of scam because it has been warned everywhere. Checking the link should be done multiple times before we connect our wallet or use information from them. Bookmarks also work effectively in this case to avoid unfortunate mistakes.

People's eye us already opening so they are extra careful in all the transactions they do, and that is the only way they can not be a victim to scam. For the past few years now a lot of people are falling victim to scams and have lost a lot of money because of scam so people that have gotten scammed are sharing experiences for people to be careful and not to be scammed. People are trying to aviod saving anything online, they are actually learning.

It would be terrible if investors had to put real money into the market, trying to spend time and effort to invest and generate profits but end up losing all their crypto assets due to connecting their wallet to a fake site. I usually trust the links provided on Coinmarketcap or Coingecko to avoid fake sites.

When you do a research their are lot off people that have give out their seed phrase just because they were convinced by a scammer, and they also wanted to try it put but now before anybody try anything out they would have ask questions since money is at stake losing money now in this economy is definitely going to be terrible. And their is a lot of fake websites we need to be careful of.

[ABCbits]

Scams on Twitter are rampant these days, it's good that projects have started to make tweet saying, 'this is last tweet of the thread' — otherwise the viewer wouldn't even be able to figure out the correct link and fall prey to scam.

It's good that some project provide warning. But IMO the reader should also check who exactly share the link.

[EluguHcman]

So what are the most important and practical ideas that can help newbies to never be victims of scams and frauds? Here are some from me:

To how much I have come to understand the concept of fraudulent in the Crypto industry, we really can not cut its scamming existence off but we can only curve to limit individuals falling victims because most scammers are professionally knowledgeable with different skills of entrapping victims.

So, the only way we can minimize this scamming possibilities is by not too quick to concur with across informations pertaining cryptocurrencies.
Must be endivoired to enquire and make your research before keying in to action.

Do not be so attracted to hyping coins that it developers claims the coin of having a quick rich potential.
Although there could be such potential coins but as much as it is feasible, so also, the coins could overnight so magically like that and then you could lost your funds.

Be contented with your immediate holding but though diversification of investment is essential for alternative source of incomes but why greeds are being implied, it becomes a risky tendencies of being vulnerable today be scammed either by investing on unrealistic crypto coins or abiding to unrealistic Crypto updates.