With cryptocurrency prices on the rise another thing investors should expect to see rising are crypto scams. They’re growing so commonplace; the FBI even issued a public service announcement about schemes involving crypto ATMs and QR codes.
In all honesty, most scams involving crypto are pretty easy to spot and avoid. For instance, some come via email. While it may not be from a Nigerian prince, they can still be deceptive. It may look exactly like an email from a legitimate crypto exchange. But it’s usually easy to figure out if it’s legit or not. Each email client operates a little different. However, each have a way to take a closer look at the actual sender’s email address. So, whenever you get an email announcing access to a new coin offering… Or anything requiring access to your digital wallet… Always double check the validity of the sender’s email address. Because it could easily be a crypto scam.
Social media is another place rife with scams. Impersonators and bots run rampant. From Twitter (NYSE: TWTR) to Reddit and everything in between, it’s usually not a good idea to take heed of a crypto offer that comes via social media. And it’s an equally bad idea to send crypto to someone asking for crypto at these places.
Then of course there are fake apps. Google Play and Apple’s App Store have been prone to occasionally have fakers among the legitimate ones. These can be a crypto wallet, exchange or other apps. And if they’re used like the real thing,…