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How to Evade Fake Crypto Scams? 4 Strategies Explained

Ethereum


There are dozens of digital currencies available in the crypto world today, frequently making it difficult for the crypto traders to understand the differences between the real and the fake ones.

The never-ending appetite of scammers may put you in trouble if you bump into a fake crypto trade. To keep those problems at bay, you need to identify the differences between a fake BTC token and a real one.

If you’re a novice, it might be difficult for you to analyse the differences between a genuine crypto and a fake crypto token. To maintain distance from the scammers, some of these strategies might be useful to you in a crypto trade, they’re:

Take time to navigate a crypto trading website

Often scammers use fake crypto trading website to access your hot and cold crypto wallets. Once you sign in from those websites to move ahead with a trade, they get easy access to your crypto account. That way, you lose thousands of Satoshis within seconds.

Before registering with a crypto trading website, take time to navigate the website carefully. If needed take time to understand the reviews available in the internet about the website. It’s better to stick with the recognized crypto trading platforms available in the internet. If needed you can subscribe RSS feed to notify you about latest crypto currency news from time to time. Those news are quite effective in assisting you to understand the differences in between a genuine trade and a fake trade.

Get acknowledged about the developer of the ICO team

The success of an ICO is quite dependent upon the hard work given by the crypto developers. The hard work of the crypto developers pays when the digital currency is finally distributed in large scale and flows in a crypto market in spite of its price fluctuations. It’s an easy piece of cake for a scammer to build fake cryptos when they see any of the digital currencies are getting maximum popularity. Bitcoin being one of those is hugely scammed nowadays. As a BTC trader, you need to be careful before trading or buying a bitcoin from a crypto market. You can also browse Oil Profit in detail to understand the differences in between a real crypto currency and a fake currency before beginning an online crypto trade.

 Stay away from fake crypto trading mobile apps

Mobile optimized crypto trading apps are one of the easiest ways to victimize crypto users. It’s a common scenario with the crypto traders to find themselves downloading those fake apps, just to see those apps being removed from Google Play or Apple app Store.

As a crypto trader you need to watch out before downloading those crypto trading mobile apps. If you’re clueless about downloading a reputed crypto trading platform, then it’s better to browse the internet at first. You’ll come across plenty of online reviews about the top crypto trading mobile platforms over there. Choose only those apps that has 4+ reviews and above. Take time to scroll down each and every individual review reported about the app in the review site. Download an app that looks reliable for a crypto trade. That helps you to stay away from crypto hackers anyway.

 Increase the dependency on AI driven trading bots

The AI driven trading bots are a smart option to cheat the crypto scammers. These AI driven trade information providing bots always filters out genuine crypto trade opportunities to a user.  By setting your trade preferences, it’s easy for you to prioritize your trade interest. The bot fetches out only those trade opportunities that turns out profitable to you in the long run. Moreover, these bots are smart enough to analyse the risk factors associated with crypto trade. They always put the percentage of risk factors involved in a trade before you choose to take part in it. It’s another smart strategy to estimate your risk factors before jumping into a crypto trade. Always choose the auto trade option, so that the bot can trade on your behalf and negotiate the deals as per your custom preferences. That way, it’s easy to reduce the chances of getting involved into a fake trade.



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