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5 crypto scams that you should absolutely know and avoid

 


I hope you enjoy the peaceful Christmas season. But you will certainly also keep an eye on the crypto market. Right now you should be careful too. Different types of crypto scams are becoming more common. We introduce 5 common types of scams.

1. Fake accounts from prominent influencers

A phenomenon that has been getting worse in the last few weeks is the fake accounts of prominent influencers. The famous Twitter account Plan B addressed this topic:

The number of fake accounts that ask fans of real accounts about cryptocurrencies to invest is also increasing on YouTube and Instagram. Some of these accounts are very similar to the real accounts. Fake accounts are now one of the most widespread crypto scams.

2. Blackmail emails

More and more crypto scams are also occurring in which you receive an email claiming that data has been collected about you. The emails ask you to transfer Bitcoin to a specific wallet. Otherwise sensitive data about you would be published or your bank account would allegedly be emptied. Make sure to ignore these emails!

3. Dangerous face-to-face meetings

Some of these crypto scams are already serious criminals. There are certain groups of criminals who target owners of bitcoins and other cryptocurrencies. In some cases, they even want to gain access to the portfolios of crypto owners by force. 

Pay particular attention to your safety if you are invited to face-to-face meetings with people you do not know! In addition, never give your address or your whereabouts to an unknown person online!

4. Ponzi Schemes

The classic among the crypto scams is the so-called Ponzi scheme. You are promised that you can earn high returns by investing your bitcoins. With Ponzi schemes, however, returns come from other people's investments. This usually only earns the very first investors and the majority of them lose their coins. Ponzi schemes are not only present in the crypto area and unfortunately, work again and again.

Krypto-Scams – 5. Fake Bitcoin Exchanges

The fake Bitcoin exchanges are among the most brazen crypto scams. These pretend to be a large Bitcoin exchange that attracts you with extremely low fees. Their only job is to get your FIAT money out of your pocket. These scam exchanges often look very professional at first glance. Therefore stick to reputable crypto exchanges.

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