Coin Scam-How to Protect Yourself from Fraudulent Market?
Cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units. A cryptocurrency is difficult to counterfeit because of this security feature. The Complete Guide to Cryptocurrency De-Fiat and coin scam and How to Avoid Them is an extensive guide on how you can protect yourself from fraudulent coins.
The Complete Guide to Cryptocurrency De-Fiat Coin Scam and How to Avoid Them
Cryptocurrency De-Fiating refers to a fraudulent practice of taking the coins you have deposited in your wallet and shutting down the service.
This type of fraud is becoming more common as cryptocurrency scams, hacks, and thefts are on the rise. The most common types of Cryptocurrency De-Fiating are:
– Website Shutdowns
– Wallet Hacks
– Wallet/Exchange Shutdowns
– Exit Scams
Users can protect themselves from cryptocurrency fraudulent market scams by doing their due diligence before investing in any cryptocoin. Users should only invest in legitimate company that has a history or providing transparency into their business practices. Users should also be aware of what websites they visit, what wallets they use, and who they trade with.
The Definitive List of Cryptocurrency De-Fiating Coin Scam & How To Avoid Them.
The cryptocurrency market is a hot topic today. The huge influx of investment in this new emerging market has made it a prime target for scammers looking to make a quick buck.
Coin loss is not the only way that these scams can affect you, they can also threaten your security and steal your information. Recent evidence suggests that the amount of cryptocurrency fraud has been increasing steadily since 2017 when it became more popular to invest in this new emerging technology.
This guide will show you how to identify and avoid cryptocurrency scams so that you can protect yourself from fraudulent activity
3 Key Signs of a Fraudulent Crypto De-Fiating Coin scam Scheme
With the rise in cryptocurrency and the emergence of new ICOs and altcoins, it is imperative to know how to protect yourself from fraudulent coin scams.
Cryptocurrency scams are on the rise, especially with the introduction of new cryptocurrencies and Initial Coin Offerings (ICO). The coin scam typically go like this: a person or company offers you a chance to get in on a hot investment opportunity. They ask for your money up front and promise you huge profits once they complete their ICO. You find out later that they actually use your money for something else or that their company was never registered to do what they claimed they were doing.
The best way to avoid becoming a victim is not to invest in anything without thorough research beforehand. There are many different ways you can research.
We will be discussing a few ways you can protect yourself from getting scammed with fraudulent coins from the crypto-market. These scams are not specific to any one coin, but happen across the board with most coins.
We will be discussing the following:
- Check the background of the team involved with the coin’s ICO
- Look for reviews on their social networks
- Check the Linkdin profiles of the devs.
- Ensure that not more than 30% of the coin’s supply is held by top 100 addresses.
- Get familiar with the use case of the coin/token.
- Don’t be influenced by youtubers or any influencer, because they are paid in order to talk good about any shit coin.
- Do your own Research and only invest in a project if you believe in it, and you see a huge potential.
The cryptocurrency market has become a hotbed for bad actors to take advantage of unsuspecting investors. It is important to be aware of the scams in order to protect your money and yourself from being defrauded.
In the cryptocurrency market, the most common type of scam is a fraudulent ICO or “shitcoin”. Typically, scammers will create an ICO with a name that sounds appealing and will offer presales at a discounted rate. Once they have enough people buy into their fake ICO, they dump their coins and run away with all their pre-investor’s money, especially because more play to earn gamesplay to earn games are becoming popular.
There are also many other types of schemes in this space that you should be aware of such as Ponzi schemes, Pyramid schemes, Pump and Dump Groups, Fake Exchanges etc.
Some Recent Shitcoin Scams
some recent coin scam which to wipes a lot of inbestor’s money and their value dropped to nearly zero, and the developer dumped all the coins are listed below :-