Topic: Few advices on how to avoid scams (Read 256 times)
The best ways to avoid becoming part of the scams is to check the company's development team. Also investigate and do some backround research of the website. Also check for any reviews of the company online. Always invest after covering all the aspects.
good article for newbies. everthing is logical for adequate people, but man is often lazy to research himself the team etc. after that begin to cry about lost money....
I have had a terrible experience regarding these scams. There was one that never did ICO but stated that they will distribute all their token through airdrops and giveaways. The only conditions was to have certain quantity of their coin which offcourse was readily available at Etherdelta. People started buying the token from there to meet their requirements for free giveaway. On one fateful day, they dumped on the community and ran away to prepare for the next scam. The coin am talking about is Otho
Thanks everyone!
I have written some blog post about some of the scams which I have been noticing lately and how to avoid falling for them.
You are welcome to read it here: https://steemit.com/cryptocurrency/@primoz82/some-thoughts-on-scams-which-i-have-been-noticing-lately-and-how-to-prevent-falling-for-them.
Please do leave your comment on the page if you have any experience or advice on the topic. I think that it could be useful for a lot of people, especially for beginners in crypto world
You can also leave your comments and advices here. I think that sharing experiences, even the bad ones is a great way for others to learn. Not everyone should learn on their own mistakes
Thank you for this information this will be a great help to avoid getting scammed. I want to remind something, this is based on eth or erc20 tokens on how to keep it safe. If the wallet you are using supports offline better copy the offline mode and you can keep your coins or tokens carefully. Example of a wallet that support offline is myetherwallet. I did copy offline mode to check my wallet or create one. Hope this help. You are welcome to read it here: https://steemit.com/cryptocurrency/@primoz82/some-thoughts-on-scams-which-i-have-been-noticing-lately-and-how-to-prevent-falling-for-them.
Please do leave your comment on the page if you have any experience or advice on the topic. I think that it could be useful for a lot of people, especially for beginners in crypto world
You can also leave your comments and advices here. I think that sharing experiences, even the bad ones is a great way for others to learn. Not everyone should learn on their own mistakes
And also you should check ssl certificates, when you check your MEW, ive lost my tokens because of this. Be really careful with that!
I have saved my thousands of dollars just because I asked the opinion/review from the senior members before taking the investment decision. There are lots of people out there who trust the promises of any new website and they immediately invest without any second thought and that's where they commit the mistake. The best way to avoid the scam is to do maximum possible research before taking any investment decision.
Hey, guys! Thanx for this great post, I agree that is hard to get scammed on bitcoin right now! As we all know, one of the differences between those who make money and those who don´t is Information. The effort is great, but having the right Information is Key. And yes, like in almost everything, there are shortcuts that can really improve your game! I have a pretty cool Loophole to Turn $10 to $10,000 in 3-5 weeks! Feel free to check it out here: https://[Suspicious link removed]/2JT4J1G
There are a lot of ways to be schemed in the crypto world. It's important to know how people do it, so you can avoid it for yourself. We have a blog post about common scam methods out there, so check it out
Bit.ly/ScamCoins
Cheers!
Bit.ly/ScamCoins
Cheers!
I read your article and it looks good. Thank you for sharing. But I believe that the real problem is how people are approaching to crypto-currencies. Until they stop seeing them as an "easy way for earning money", there is a good chance that scammers will win.
Thank you-it is clear that serious work has been done! On the other hand, it is impossible completely avoid scam campaigns. But we can try to minimize their number.
We have been hearing a lot about crypto regulations lately and people seems to fear it like the vampire would fear the garlic. But ask yourself. Will regulations really be that bad? And who has to fear them the most?
In my opinion regulations are not necessarily all that bad. They will bring some order and law to wild west world of cryptocurrencies. And it is about time to separate good coins/projects from the bad.
In the past I made some bad investment when I invested in the coin because it looked promising, had real world usage etc. But still, at some point often team did a little pump and dump, made some high flying promises or just promised to make some great announcement, which never came, and later on they disappeared. Probably with nice sum of money. So, you still think that regulations would be all that bad?
And to answer second question, who fears regulation the most? Investors? I do not think, because they will at some point protect the investors. So, if not investors, who would be hurt the most by regulations? If you said that people who now manipulate the market and teams which just want to make some big money in a shortest possible amount of time, with the least effort possible you were correct. So, they are the ones who should fear the regulations the most and usually do spread a lot of FUD about it.
In my opinion regulations are not necessarily all that bad. They will bring some order and law to wild west world of cryptocurrencies. And it is about time to separate good coins/projects from the bad.
In the past I made some bad investment when I invested in the coin because it looked promising, had real world usage etc. But still, at some point often team did a little pump and dump, made some high flying promises or just promised to make some great announcement, which never came, and later on they disappeared. Probably with nice sum of money. So, you still think that regulations would be all that bad?
And to answer second question, who fears regulation the most? Investors? I do not think, because they will at some point protect the investors. So, if not investors, who would be hurt the most by regulations? If you said that people who now manipulate the market and teams which just want to make some big money in a shortest possible amount of time, with the least effort possible you were correct. So, they are the ones who should fear the regulations the most and usually do spread a lot of FUD about it.
I completely agree that regulations, when applied correctly, is only going to help users and investors. There are non-criminals who don't like them though, and I understand their sentiments all the same. They mostly believe that the system is broken, and that Bitcoin could be part of the cure. Bitcoin was also built in such a way that it's essentially immutable and pseudonymus, so some people see it as a tool to sidestep governments' censorship and surveillance. If they believe that government intervention defeats the purpose, then it's only natural for them to oppose regulations.
But yeah, good write up though!
To avoid scams, try to use official wallets.
Its nit that easy to avoid those scam,research can avoid it and reading here in forum will give you an idea of what are the good bounty you can join,recommendations of other higher rank bounty hunters will also help.
One more thing...be aware of scammy exchanges. In the future I will probably write a blog on that topic and post it here.
You must be aware that each exchange is not automatically trustworthy. So for your own good also do research about exchanges, check the reviews, forum topics etc.
Nice advice you got there, I would also like to give advice to others regarding scams. My advice is to "not invest on coins who gives you returns every now and then, which I would refer to as Ponzi coins". What I am referring g to here is coins like bitconnectx who promise you constant percent of returns in your investment but ends up as a Ponzi scheme in the end. Such coins are made to scam people. You must be aware that each exchange is not automatically trustworthy. So for your own good also do research about exchanges, check the reviews, forum topics etc.
One more thing...be aware of scammy exchanges. In the future I will probably write a blog on that topic and post it here.
You must be aware that each exchange is not automatically trustworthy. So for your own good also do research about exchanges, check the reviews, forum topics etc.
You must be aware that each exchange is not automatically trustworthy. So for your own good also do research about exchanges, check the reviews, forum topics etc.
Thank you Gonzo1977 and soiwenrema
I think that in general is very important not to be impatient. Do a lot of research before investing. Do not be afraid that you will miss the investment opportunity, because even if you do soon the new one will emerge. There are always a lot of opportunities in the emerging crypto market, but unfortunately there is also a lot of scams. So be sure to get as much knowledge as possible before investing, try to learn on mistakes of the others and do not repeat them
I think that in general is very important not to be impatient. Do a lot of research before investing. Do not be afraid that you will miss the investment opportunity, because even if you do soon the new one will emerge. There are always a lot of opportunities in the emerging crypto market, but unfortunately there is also a lot of scams. So be sure to get as much knowledge as possible before investing, try to learn on mistakes of the others and do not repeat them
Very good information
Dear author.
Thank you very much for the initiative in alarming the newbies, like me in some bad elements. I hope we can here more from you. And also parallel with your advise I will do self learning also.
Thank you very much for the initiative in alarming the newbies, like me in some bad elements. I hope we can here more from you. And also parallel with your advise I will do self learning also.
I have written some blog post about some of the scams which I have been noticing lately and how to avoid falling for them.
You are welcome to read it here: https://steemit.com/cryptocurrency/@primoz82/some-thoughts-on-scams-which-i-have-been-noticing-lately-and-how-to-prevent-falling-for-them.
Please do leave your comment on the page if you have any experience or advice on the topic. I think that it could be useful for a lot of people, especially for beginners in crypto world
You can also leave your comments and advices here. I think that sharing experiences, even the bad ones is a great way for others to learn. Not everyone should learn on their own mistakes
You are welcome to read it here: https://steemit.com/cryptocurrency/@primoz82/some-thoughts-on-scams-which-i-have-been-noticing-lately-and-how-to-prevent-falling-for-them.
Please do leave your comment on the page if you have any experience or advice on the topic. I think that it could be useful for a lot of people, especially for beginners in crypto world
You can also leave your comments and advices here. I think that sharing experiences, even the bad ones is a great way for others to learn. Not everyone should learn on their own mistakes
Good advices, special that "giveaways eth" most of beginners fall into this trap. But your article smells like payed from dnotes(very old scam coin which was delisted from big exhanges)
Dear HALLASTERA, thank you. I hope that at least part of warning against ETH giveaways will be useful for some users and help them avoid that scam
But I cannot help to wonder why do you think that DNotes is a scam coin? They never had any pump and dump situation like many of the other coins and there is active development going on. They communicate with the investors on a daily basis and lately they issued version 2.0 which is getting listed on Cryptopia on 12th of May.
You can check their Bitcointlak forum thread here: https://bitcointalksearch.org/topic/dnotes-20-staking-crisp-interest-dnotes-pay-1924858 and see for yourself that they are still very active.
For comparison, to see what is more likely a scam coin, you can check the two other threats of two coins, in which unfortunately I also invested
https://bitcointalksearch.org/topic/ann-voxels-vox-the-official-coin-of-virtual-reality-and-voxelus-platform-1235683
https://bitcointalksearch.org/topic/xvc-vcash-official-community-thread-zerotime-anon-auto-block-size-1504342
There was no word from developers for a long time, also practically no activity on the Twitter whatsoever..
It may be that my hopes for DNotes are too high, but as with the others...only time will tell
In the meantime....stay away from "free ETH giveaways"
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