10 cryptocurrency scams you need to be aware of


I really hate scammers, in fact I detest them. They prey on anyone, the vulnerable, the naïve and the greedy; there whole aim is to steal. Sadly the crypto space is awash with these low lives and they are becoming both ever more sophisticated and prevalent. In this article I will present 10 common cryptocurrency scams you need to be aware of so that you are more informed as to what to look out for and hopefully help you to avoid becoming a victim of one of these devious schemes.


Cryptocurrency is empowering....but...


One of the liberating and empowering aspects of owning cryptocurrency is the ability to have self sovereignty over one's assets. With this comes a personal responsibility to keep those assets as secure as possible, because in accepting control over your assets you no longer have a third party or middle man acting as custodian; you effectively become your own bank.


Most crypto scams try to find a weakness or attack vector that can be exploited. The sole intention of the scammers is to either gain access to cryptocurrency wallets or get people to unwittingly send their cryptocurrency to them, and this can be achieved in a variety of devious and cunning ways. The following are 10 methods currently being used.


1. Fake websites


Scammers frequently put up fake websites and then have the audacity to advertise those fake websites, which can even end up on the top of a Google search.


For example, in conducting a search for the Metamask wallet download site, you may see an advert that says it’s for "Metamask". If you were to click on it you could be taken to a fake website and you will subsequently install a fake Metamask app.


After you have installed the wallet and have gone through the set up process, including writing down the seed words, the thieves will literally be waiting for you to deposit your crypto at which point they will take control and empty the wallet.


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