Crypto Scam; How to protect yourself against it.

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Welcome to my blog once again guys. It's always my utmost pleasure bringing you value each time am privileged to. As usual I will be dishing out yet another interesting piece. It's the second part of what I started previously on crypto scam.

We talked about the definition and the common types we have. I believe I was able to discuss the subject extensively. There is always room for questions , additions and even subtraction from your end as no man is an island of knowledge

So what are we looking at today? We are going to be discussing how to avoid or better put, safeguard ourselves against these scams we've discussed. I have put together few tips on how to stay on top of your game as it relates to the subject matter. Let's get into it right away.

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How to safeguard yourself from crypto scam

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• Carefully protect your wallet.

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It's no more news that scammer will always want to access you wallet by all means because it where the goodies are. Do well to ensure you're the only one who knows the key to your wallet, I mean your private key which of course should not be shared with anyone for any reason at all.

You should also ensure to put your wallet to test especially if you're just downloading it or new to it, do well to send just little of your asset and not all just to see what happens over time.

Also do well to be vigilant when updating your wallet app. If you notice anything strange and unusual which makes the whole process suspicious, do well to end the process. Some malicious actors might just be behind the scene manipulating things.

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• Do not rush

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"Pressure mounting" is one of the major tactics of these scammers. They pressure you to act fast and take action so that their plot can be successful. Always do well to take your time. Go through whatever it is they are introducing to you and do well to verify even if it takes days, still hold on until you're sure.

Don't ever think you'll miss out if you don't take action like they claim. It is just one of their cheap tactic to swindle you perfectly. Most importantly, seek the advice of financial experts around you if you have any.

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• Be careful of social media ads

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One of the strategies used by scammers have always been social media buzz. They continually hype a coin to lure their prey they even go as far as using the images of celebrities you've idolized just to get you.

One thing you should know is that not all reputable celebrities would want to put their career and reputation on the line especially in a risky activity such as crypto. This should give you a sense of caution so you don't fall for their cheap trick just because they claim they are been endorsed by some celebrities.

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• Disregard cold calls

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Cold calls are unsolicited calls you get out of the blues requesting that you consider investing in a particular coin or crypto. This in many cases have resulted into scam.

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Come to think of it, how would someone you don't know from Adam just call you to tell you about a juicy offer, someone you didn't give your contact or have any form of relationship with... It's a red flag my friend...don't be told to hang up on the caller immediately.

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• When it's too good to be true

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This is exactly the bait. When you're presented offers that are way beyond the usual, you should be wise enough to probe and abstain from such offers. They are big trap. Human being are naturally attracted to things that bring them gain so these scammers capitalize on that and present you with gains i.e ROI that are unrealistic. Be very careful of this kind of investment.

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• Always download app from official website

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Do not ever make the mistake of downloading a crypto app or wallet from a third party website, it can be very dangerous. Funny enough you won't be able to tell the difference if you're redirected from that site to the "supposed" official website you intend visiting.

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It would be a smooth scam plan if you can't tell. Always do well to go directly to the official website if you need to download or update your crypto related apps especially the wallets you use for transactions.

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• DYOR

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You have always seen me use this term again and again, by now you should know what this means...anyways I would still tell you if you do not. DYOR means Do your research

The crypto world is so slippery and risky that every player or investor is being advised to always learn and know for themselves in order to survive here. No one would like to be a financial adviser to you especially when he is not certified but knows so much. That's because they don't want to be held responsible for any unforeseen unfavourable event.

Do well to research every proposal, project, cryptocurrency and what have you before you venture into them. The fact remains that you should never invest in anything you do not know. Many have made the mistake before you and it's for your learning, do not make the same mistake.

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I will love to wrap up this piece here. I trust you learnt a thing or two from it. Do well to share your thoughts with me in the comment section. Thanks for your time once again. Gracias!

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Regards
@lhorgic♥️

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