Topic: How NOT To Get Scammed - page 12. (Read 4649 times)
Very good information for new people to cryptocurrency, in order not to be dragged the scam further in the future. My biggest mistake is the same password when signing up for an airdrop website on many platforms eventually many incoming email notifications are successful logins on some of my exchange platforms. Fortunately, I have no balance in some exchange because only to sell my altcoin from the bounty. And my main exchange is in the strict use of F2A. So do not get your password the same when registering on a website as described above.
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.
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.
but the most dangerous one is greed, not knowing when to stop is bad in every aspect of life but at the same time greed has its purpose too
Definitely correct. I think we should all learn contentment. Most of the times, greed makes us lose more than we could earn. I know because I experienced it myself. When I was still new here, I wait too long before exchanging my coins. Turns out those coins are already depreciating and has no more chance to depreciate. My colleagues were able to sell theirs at an amount thrice than what I got because I was not contented before. But I learned from that experience and became contented now of what I have.
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.
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.
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.
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.
Quote
Please try to include telegram scams on your list, they are trending big now and almost all newbies from india have fall victim to this scam tricks, scammers steal project teams image and use a near identity name too, for example a legit project team member can go by @fisher as the username and scammers will change the name to @flsher with same profile image to give you good offer, if you don't check very well you will think its legit.
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.
All of it are the common mistakes of people who wants their money to double or more than that easily. Easy money is very attractive and many will take the risk especially if you are a greedy person who are thinking about the profit only.
So far, I was unable to experience any of these mistakes and hoping that I can still avoid it. What I have experienced is, I lost my money because of my carelessness. I send the money to the wrong address and boom my money just fade like a dust and that is the lesson that I learned which I don't want to happen again.
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.
it is not easy today to get good project to invest, if the project not scam it is low quality and dead after few months
but I still believe there will be projects that can last a long time, market trends may be bad but I am sure there are some developers who are responsible for the project. Most importantly as an investor you must choose the right project for investmentBoth new projects and coins that have been traded on the market are experiencing difficulties due to market conditions that have not yet recovered. Projects that die after listing are usually caused by the developer team leaving the project or not being able to reach the target roadmap so that investors begin to lose confidence. I agree that many projects have a dedicated team and I think this kind of project will still rise when the market begins to recover
it is not easy today to get good project to invest, if the project not scam it is low quality and dead after few months
but I still believe there will be projects that can last a long time, market trends may be bad but I am sure there are some developers who are responsible for the project. Most importantly as an investor you must choose the right project for investment
it is not easy today to get good project to invest, if the project not scam it is low quality and dead after few months
but I still believe there will be projects that can last a long time, market trends may be bad but I am sure there are some developers who are responsible for the project. Most importantly as an investor you must choose the right project for investmentyeah 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.
it is not easy today to get good project to invest, if the project not scam it is low quality and dead after few months
but I still believe there will be projects that can last a long time, market trends may be bad but I am sure there are some developers who are responsible for the project. Most importantly as an investor you must choose the right project for investment
it is not easy today to get good project to invest, if the project not scam it is low quality and dead after few months
This is really a useful article, the information is really worth watching to avoid fraud. I see greed as the source of failure. We are easily deceived by sweet promises, not even able to think what we are doing. That is why we end the project with regret.
This was really helpful. Personally I think GREED is the main reason being scammed. Some people unwisely follow fancy links(ads) where they are dreaming about getting lots of money but actually they are losing it. We should take our decision wisely before investing on a project.
I underline your statement that "We should take our decision wisely before investing on a project" and I strongly agree with what you say.but we also need to know the current state that many projects are growing and it is very difficult to determine what projects will succeed. although we have analyzed it well.
in fact, many projects have scam results, even though we see the process is quite good.
At present it is indeed risky to invest in new projects. If the price does not go down after the initial listing, there is another risk that the developer team is running away from the investor's funds. For now, I think it's safer to invest in coins that are in the top 10 coinmarketcaps, but we just have to wait patiently for the altseason to come
from some of the points you said above are exactly the same as what I feel in this cryptoqurrency industry, well ... I know that this is a free forum and more risky than I thought. but what we have done before, is a good step for the next day. I think everyone will think the same that someone who does not want to get scammed, the answer is quite simple no need to bother to get involved in it.
This was really helpful. Personally I think GREED is the main reason being scammed. Some people unwisely follow fancy links(ads) where they are dreaming about getting lots of money but actually they are losing it. We should take our decision wisely before investing on a project.
I underline your statement that "We should take our decision wisely before investing on a project" and I strongly agree with what you say.but we also need to know the current state that many projects are growing and it is very difficult to determine what projects will succeed. although we have analyzed it well.
in fact, many projects have scam results, even though we see the process is quite good.
The most reigning form of scamming is not less of ICO/IEO related. Most of them are now come in form of airdrop. They conduct an airdrop and inform the participants to pay a certain amount of ETH as gas fees for the airdrop earnings to be sent. They all end up in nothing but scam.
The best way to avoid being scammed is to check one's greed towards making unrealistic earnings.
The number and type of scams is infinite, another thing that airdrops are doing is to ask for KYC just for a few dollars worth of their coins and then they can sell this information later on the the dark net or even use this information on later scams, we need to be very careful scammers are using every resource at their disposal to take advantage of the honest people of this market and we cannot let them tarnish the image of cryptocurrencies anymore or we will never get to the level of adoption we have dreamed of.The best way to avoid being scammed is to check one's greed towards making unrealistic earnings.
Being open and not to allow things to spread helps more people to avoid becoming a victims. If you are in the position, do your diligence to share your knowledge to prevent.
Quick money-making scheme of course the most dangerous. I also tried to make money on them, but in the end I lost money. But it made me realize that there is no easy money. And in order to get something you need to work hard.
In this market, any investment will have its own risks and if you are not careful, you will be a victim for them to make money. I have gone through many different stages of this market and also lost a lot of money when participating. I believe it is best to choose only top altcoin investments or join IEO at major exchanges because these are the two easiest ways to make money in the bear market.Participating in investment scheme is different from investing in crypto, if you participate in investing schemes, you will only end up being their victim, while in the market or through ICO, there is a chance that you make a profit but it takes time and not an easy way to make a profit.
Quick money-making scheme of course the most dangerous. I also tried to make money on them, but in the end I lost money. But it made me realize that there is no easy money. And in order to get something you need to work hard.
In this market, any investment will have its own risks and if you are not careful, you will be a victim for them to make money. I have gone through many different stages of this market and also lost a lot of money when participating. I believe it is best to choose only top altcoin investments or join IEO at major exchanges because these are the two easiest ways to make money in the bear market. The most reigning form of scamming is not less of ICO/IEO related. Most of them are now come in form of airdrop. They conduct an airdrop and inform the participants to pay a certain amount of ETH as gas fees for the airdrop earnings to be sent. They all end up in nothing but scam.
The best way to avoid being scammed is to check one's greed towards making unrealistic earnings.
The number and type of scams is infinite, another thing that airdrops are doing is to ask for KYC just for a few dollars worth of their coins and then they can sell this information later on the the dark net or even use this information on later scams, we need to be very careful scammers are using every resource at their disposal to take advantage of the honest people of this market and we cannot let them tarnish the image of cryptocurrencies anymore or we will never get to the level of adoption we have dreamed of. The best way to avoid being scammed is to check one's greed towards making unrealistic earnings.
This was really helpful. Personally I think GREED is the main reason being scammed. Some people unwisely follow fancy links(ads) where they are dreaming about getting lots of money but actually they are losing it. We should take our decision wisely before investing on a project.
in investments with crypto and altcoin currencies one of the risks and weaknesses of these investments is that there are no strengths or legal institutions that can regulate the activities that occur in the development of crypto currency investments and that allows people to make fraudulent projects for personal gain and certainly harm many people and investors who participated in the project 
Of course, I fully agree with you that quick schemes of earnings are often unprofitable. But I can say that it all depends on how well you use these schemes. You can try everything, the main thing is always to try to keep everything under control and be careful.
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