How to Overcome Existing Fraud when making Crypto Investments

How to Overcome Existing Fraud when making Crypto Investments

How to Overcome Existing Fraud when making Crypto Investments

Investment Scam

Netgenz Investing in cryptocurrencies has recently become something that many people do, including novice investors who don't have much knowledge about the investment world.

This phenomenon occurs for various reasons, including the number of people who are proven to be able to multiply their wealth quickly in a short period of time from investing in cryptocurrencies. Also, read How surveysay to make money online.

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Unfortunately, not many people realize that behind these opportunities there is also a risk of losing funds. One of the reasons is because of the fraud that is rife in the crypto world. I hereby give some ways to prevent it

1. Fraudulent Website

Crypto Investments

Fraudulent Website

A cryptocurrency investor may gain a lot of knowledge from someone who has the expertise and experience in investing in this digital currency. However, many of them cannot escape the snares of fraud involving fake websites because they accidentally visit these sites.

Therefore, it is important to keep in mind that there are many fake websites whose names and appearances closely resemble the real ones. To avoid harm from happening, it's important to check for a small lock sign or icon indicating security near the URL bar when visiting a site, and pay attention to the presence or absence of “https” in the address of the site.

if we do not find the word "https" then it is certain that it is not an official website. and if you have continued to enter, just exit the site because it can contain viruses that can steal your personal data.

2. Fake mobile app

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Fake mobile app

Another common way that scammers (scams) trick cryptocurrency investors is through fake apps that are available for download through Google Play and the Apple App Store.

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While stakeholders can often quickly spot these fake apps and remove them, that doesn't mean these kinds of apps don't overshadow cryptocurrency investors. Bitcoin News reports that thousands of people have downloaded fake cryptocurrency apps.

One way to avoid becoming a victim is to ensure clear spelling in the copy or even the name of the application. Also pay attention to whether the branding looks inauthentic with weird coloring or the wrong logo. Remember and consider these things before downloading an application. because the fake application certainly has a virus in it, so be careful.

3. Fake Social Media Tweets and Updates

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Fake Social Media Tweets and Updates

Twitter is one of the most widely used social media platforms for cryptocurrency investors, and they often post various things about cryptocurrencies. Those investors include celebrities and executives on social media. easy example of Elon Musk.

Indeed, if you consider it, following the advice or tweets of famous figures regarding cryptocurrencies does not hurt. However, it is important to keep in mind that there is a threat from malicious bots impersonating social media characters.

To avoid becoming a victim, it is important to verify the veracity of every tweet or post and account of the investor, whether genuine or fake, on Twitter or other social media. In addition, don't be too easily tempted by offers, especially those that promise big lure on the condition that you send a certain amount of cryptocurrency or funds first.

Read: 5 Tips to Start Investing for Beginners

4. Fraudulent Email

Crypto Investments

Fraudulent Email

It is important to be aware of the emails received, even if they come from legitimate cryptocurrency companies. When receiving this kind of email, remember to pay attention to a number of things such as the email name, logo, and more. and if it comes from a cryptocurrency company, you can ask what the need is.

If in doubt about the email, it's a good idea to ask someone who works at the company that sent the email. Also, never click on a link in a message to go to a site. It is also important to always check all the details of the received email in detail.

5. Have a Clear Investment Plan

Crypto Investments

Have a Clear Investment Plan

In order to avoid investment fraud, you must have a clear investment plan in advance. The financial goals are clear for what. The investment instrument must also be clear what kind. Choosing an investment instrument must match the risk profile. If you already have a clear investment plan, you will not be easily tempted by fraudsters.

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6. Avoid FOMO (Fear of Missing Out)

Crypto Investments

Avoid FOMO (Fear of Missing Out)

Don't get carried away by following what other people say. If you want to invest, it's better to learn more about these investment products, so you don't get caught up in the investment product trends of the people around you. Don't be afraid to be missed. Do not let it choose an investment product because other people also invest there. If you lose, you are the one who bears the loss. The point is, just follow your heart, don't depend too much on other people

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