How to protect your #BTC and cryptocurrency
To protect against cryptocurrency scams, some of the common red flags include the following:
Promises of large gains or double the investment.
Only accepting cryptocurrency as payment.
Contractual obligations.
Misspellings and grammatical errors in emails, social media posts or any other communication.
Manipulation tactics, such as extortion or blackmail.
Promises of free money.
Fake influencers or celebrity endorsements that seem out of place.
Minimal details about money movement and the investment.
Several transactions in one day.
Protect digital wallets from scammers by practicing good digital security habits such as To protect against cryptocurrency scams, some of the common red flags include the following:
Promises of large gains or double the investment.
Only accepting cryptocurrency as payment.
Contractual obligations.
Misspellings and grammatical errors in emails, social media posts or any other communication.
Manipulation tactics, such as extortion or blackmail.
Promises of free money.
Fake influencers or celebrity endorsements that seem out of place.
Minimal details about money movement and the investment.
Several transactions in one day.
Protect digital wallets from scammers by practicing good digital security habits such as strong passwords, using only secured connections or VPNs and choosing safe storage. There are two types of wallets: digital and hardware. Digital wallets are hosted online and have a higher rate of getting hacked. Hardware wallets store information, such as the cryptocurrency wallet and keys, offline within a device.
Cryptocurrency is not insured by the Federal Deposit Insurance Corporation, so keeping it safe is vital. Never give wallet keys or access codes to anyone.