The crypto market is ripe with lucrative investment prospects, but fraud and other security flaws continue to plague the sector. Therefore, learning ways to avoid crypto fraud is now imperative.
How can you protect yourself from falling victim to cryptocurrency fraud? How do you keep your personal crypto information uncompromised? See the following tips:
Determine the validity of an initial coin offering (ICO)
Investment and trading are two distinct activities. However, ICOs veer into the trading realm since they are marketed to those with low crypto experience.
It’s hard to resist the allure of a promising ICO. However, this is where many inexperienced traders (and investors) fall victim to con artists.
Ways to spot phoney ICOs include:
You can also avoid crypto fraud by cleaning up your internet tracks. A person’s online activities leave a trail known as a digital footprint. In other words, almost everything you publish or enter on the internet is on record.
Continue reading: https://techcabal.com/2022/08/30/security-tips-to-avoid-crypto-fraud/
How can you protect yourself from falling victim to cryptocurrency fraud? How do you keep your personal crypto information uncompromised? See the following tips:
Determine the validity of an initial coin offering (ICO)
Investment and trading are two distinct activities. However, ICOs veer into the trading realm since they are marketed to those with low crypto experience.
It’s hard to resist the allure of a promising ICO. However, this is where many inexperienced traders (and investors) fall victim to con artists.
Ways to spot phoney ICOs include:
- Looking into the people behind the website
- Reading more about the company’s history
- Going through their social media pages for clues
- Verifying the ICO has sufficient resources, a workable implementation plan, and an accurate financial model
- Inquiring about code or examples that have been posted to a hosting service like GitHub
- Verifying that the ICO’s creators have established an actual escrow service to handle investor funds
- Investigating before acting on a deal that sounds too good to be true
You can also avoid crypto fraud by cleaning up your internet tracks. A person’s online activities leave a trail known as a digital footprint. In other words, almost everything you publish or enter on the internet is on record.
Continue reading: https://techcabal.com/2022/08/30/security-tips-to-avoid-crypto-fraud/
