Topic: How NOT To Get Scammed - page 11. (Read 4652 times)

to not get scammed you need to do detailed research about the project you want to follow, especially the background of the team and the developer, the road map of the project and also what products they offer in the market.

on the one hand you don't use all your money just for investment projects, it might be far better to set aside for cryptoqurrency investments too.

You hit most of the high points, greed is the major cause of why people get scammed and keeps getting scammed in the Cryptocurrency space, if people would avoid it, then most of the scam cases wouldn't exist at all. But we have to consider that some people just do not know better especially the victims of phishing and I thank you for adding it in this post, bookmarking your favourite pages would help many people avoid this scam method as well.

The best way to stay safe in crypto is be very careful when it comes to choosing a project or coin to invest in. To be careful here means the investor must read and research vehemently on the project in order to ascertain its authenticity and capabilities of becoming successful. Targets during the research should focus on the team and its expertise level, the product, the use case, the idea pf the project etc.

That is the main trick used by scammers. Make big offers that will drive people crazy. They even lose their sense of thinking and understanding after coming across such unreal offers and even if they wont believe, they are going to give it a shot as there is nothing wrong with trying. Scammers are not that good at hacking wallets, even not with methods like brute forcing. And like you said, do not enter the territory that is unknown.

1. Take your eye off too good offers, your attention is needed thats why they are good.
2. Use more than one wallet, even if it managed to get hacked you won't be losing your entire coins and tokens
3. Email has become a big target for hackers and scammers, be careful which links you click in your email

we have to be able to do time and income calculations, it doesn't make sense for the project to run short and pay big unless the project is made by a popular developer. so always pay attention to the parts that make sense, and research the available data

Sometimes we are ending up victimized by scam project or scammers due to greed of earning huge in span of short period. Lack of knowledge is one of the factor as well, some people believe in others hearsay and easily bite the offer even it is too good to be true.

So be careful and conduct a research, dont jump in any earning opportunity if you dont understand well how it work and the risk associated with it.

yeah a lot of projects have the capacity to last for long term but the main thing is their identification which is very important for not getting scammed, and it is not necessary that the projects would be judged on the basis of the market conditions, the legit project is always legit whatever the market trend is, but scam project will always scam you even in the bull market.

I believe that every good lesson starts with a good story and on this note, I want to tell you about the experience I had that made me cautious of "Get rich quick" schemes online especially those pertaining to Cryptocurrencies.

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I discovered Bitcoin in early 2013 and although I didn't take it seriously at first, I was earning little money from it doing tasks online (pay for view, faucets and such), I took it more as a hobby and never intended on selling the bitcoin, I just knew in my heart that it would do great so I wanted to accumulate as much as possible without having to spend my money buying it (this was before I got into mining), fast forward to 2015 when the money doubling schemes were everywhere, I kept seeing adverts online and even though I knew better, I decided to invest in one of them (Avabitcoin) with the coins I got from my early days of discovering bitcoin, Avabitcoin was a platform where you invest bitcoin and they supposedly invest it and return profits to you on a daily basis, I decided to take the risk and invested for the first day, got back my money plus 12% profit, and greed overtook me and I did kept doing it for 2 more weeks before they vanished with my funds. I kept going all in even when I had already doubled my money.

If you want to avoid getting scammed online, you just have to follow the following:

Greed: Greed has led a lot of people straight to rekt, like my story above would have told you, I couldn't resist the pull of greed even when I had doubled my funds.

HYIPs: When it looks too good to be true, then it's probably too good to be true, when you see any investments that promise high yield returns, please stay far away from them, when you see genuine projects that offers returns, most of their returns are so low, some of them are average of 10% per annum and it's a wonder that we see platforms offering 10% and above in a day and we gladly jump straight into rekt, like I said, if it sounds too good to be true, then it's too good to be true.

FOMO: If not for the hype that Avabitcoin generated, I would not have invested in it in 2015, learn how to DYOR and avoid what others have to say about projects they seem to support, infact your mindset should be that everybody is trying to rip you off so if you always look at every hyped project with that mindset, you would have a clearer picture of the project without the blindfold of FOMO.

Rushing: Avoid rushing into any investment because you heard it's paying others, one of the virtues of a Cryptocurrency investor is patience, Cryptocurrency investments are high risk investments and you have to treat it like gambling, never invest more than you can afford to lose, never go all in on any project no matter how good it looks.


EDIT:
Click on random websites: Many airdrop websites you see these days asking for personal details are fake and many of them are just clever ways to steal your private details and use it to steal your funds, be careful of the links you click and if possible, bookmark your sensitive websites (the ones that need private information like private keys and passwords) so that you wouldn't fall for a clone website.

Use new wallets: We can all remember the recent incident that happened with satowallet where the wallet stopped working and users lost a sizable amount of funds, we should stick to the existing and trusted wallets instead of just jumping into any random wallets swe see online, many of them don't have your best interest at heart.

Repeat Passwords:  I was just surfing through the forum a few minutes ago and saw a post where a guy managed to hack an ICO website and contacted the admins and the admins just don't care, never repeat passwords in two websites so that if a hacker manages to get their hands on one of your passwords, they would not be able to affect your funds in other platforms.

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If you have any similar experience, please kindly share it, it might help others (especially the newbies to avoid being scammed by shady projects out there and if I see good suggestions, I would edit this post and add them as well.