3 Red Flags Of Cryptocurrency Scams

3 Symptoms Of Cryptocurrency Scams

There are many cryptocurrency scams with intend to victimize people who are new to the crypto world.

Con artists prey on those who do not know the difference between

– legit and fake crypto exchanges.
– Ponzi scheme and legitimate affiliate program

These scammers fool people into thinking that their well-designed websites give them a semblance of legitimacy.

But on closer inspection, these sites will not pass muster.

Here are some giant red flags you should be aware of:

1. Website Has No SSL Certificate

It is very important for a website that deals with cryptocurrencies to have an SSL (Secure Sockets Layer) certificate installed.

Websites with no SSL only display HTTP before their domain names and websites with SSL show HTTPS.

Many scam websites are here today and gone tomorrow.

This means once they scammed a certain number of people, they shut down that site and move on to a fresh domain.

It is quite easy to transfer website files from one domain to another.

This is why these scammers can set up shop very quickly.

2. The Offer Is Too Good To Be True

Whether you’re trying to get the best rates for your dollars or bitcoins, it is only natural that you want the best possible deal.

Since cryptocurrencies are decentralized, most crypto exchanges have their own exchange rates.

However, these rates do not vary by much.

If you see a website offering rates that are significantly lower or higher than other established exchanges, then it spells a giant red flag.

It is better to do business with a trusted platform with higher fees than to try to get the best deal out of an unknown website that could possibly swindle you out of your entire fortune.

3. Beware Of Ponzi Scams

Some Ponzi scams are not as obvious especially if they have been around for a few weeks or months.

This is because their first members would already have received their profits – derived from payments by new recruits – and would be posting glowing reviews on the Internet.

At first glance, you might be fooled into thinking to be legitimate crypto operation especially if you personally know someone who made money from the scheme.

Check out those positive reviews, and you will discover they are basically saying the same thing.

We even like to bet they have their affiliate or referral links somewhere on the review.

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