To be aware

If we talk about possessions, if we talk about money we also talk about fraud. If you are thinking about investing in Bitcoin or other cryptocurrencies, surely you have asked yourself how to do it well. Now you will receive some information about cryptocurrencies and how to avoid the most common frauds.

What I need to know first?

There are hundreds of cryptocurrencies, choosing a specific one involves looking for information about what we need and the supply and demand of the currency itself.

Some of these currencies are, Bitcoin, the first virtual currency. Ethereum, as the alternative to Bitcoin. Litecoin, Ripple, Dash,

Some advantages of the use of the cryptocurrencies:

  • The payments are instantaneous.
  • The taxes for our transactions are normally low.
  • The cryptographic systems of virtual currencies are extremely safe.
  • The privacy of users because their names are not public.

Some disadvantages of the use of the cryptocurrencies:

  • We need internet to be able to do any management with our currency.
  • The price of the currency could change depending on the supply and demand so that its price could rise or fall very quickly.
  • Some currencies are prohibited in certain countries.
  • If you do not back up, you could lose your virtual currency

 

“the Bitcoin technology is key” – Bill Gates

 

Frauds and how to avoid them

False Cryptocurrency Exchange Platforms

If you visit any exchange site the first thing you should do is make sure it is a secure HTTPS and not HTTP, it is not  a protected webpage. Do not trust the marketing tricks of selling you cryptocurrencies below the value they have. False exchange platforms usually disappear in a day.

False Cryptocurrency Wallets

Bitcoin fake wallets are just scams for malware to infect your computer in order to steal your passwords or private keys. Search and find out about the wallets you can trust. Use the HTTPS wallet site? Does the name of the wallet resemble a trusted one?

Scams with Phishing

Identity spoofing is when someone tries to trick you into thinking you are a trust company or website. Phishers contact you by email or through a fake web ad, the result is you will infected with a malware or lost your cryptocurrency. You can received an email from a may seen a known wallet because the hackers got your email, we must not click on any hyperlink or attachment document, we must go to the original page and verify if this is real. Beware of fake web ads, and recommended ads on search pages. It is better if you write directly the page you want to access

Ponzi scams

Ponzi scams are websites in which they promise to “double your bitcoin” but the only way to double your money is to send it to them first. Nobody gives or doubles the money by magic. Stay away from any platform that promises to double your funds.

ICOs (Initial Coin Offering)

ICOs intend to finance the birth of a new cryptocurrency. This could be a very profitable investment, but the problem is to find false ICOs. Some false ICOs take advantage of this to create a website with an attractive idea, convincing people to deposit their cryptocurrency in the direction of the fraudster, which then disappears. Check that the project is run by a known group or a company. You can search and ask in forums to check the information.

Conclusion

Have you ever thought about investing in cryptocurrencies? Just do it. The fundamental thing is to gather all the possible information about the cryptocurrencies to invest in them. Make it safe

Writer : Sergio Chao

Designer : Zhanar  Zhengisbay

 

 

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