The best part of digital assets is they are resistant to censorship, giving you complete control over cryptos. The only important thing that investors are responsible for is to protect and store the funds safely. However, you must be aware of how fast the crypto community is growing at a rapid rate. The number of users has increased to around 100 million. Additionally, as per stats, 14 million people are new in the market as of 2021. So, here are ways how you can stay safe in crypto:
Being aware of the common crypto scams
Three types of scams take place that you should be careful of while starting with the crypto space. It’s essential to determine how to spot the scams before becoming a victim and start losing your assets.
- Fake crypto giveaways: These are online posts you will come across on social media platforms asking people to deposit crypto. They will say you will receive double the amount on giving the money. But it is fake, and once you submit, you lose all your money.
- Phishing Emails: It has become increasingly tough to detect malicious agents. The email hackers will send you looks exactly like professional mail from a legitimate company. They will encourage you to click on the link following, giving access to all information available on your system.
- Trading bot scams: It is another kind of scam involving platforms promising users to give a high return rate each month. Some sites operate a Ponzi scheme where the new money in the scam is used to pay people who have invested in trading bot scams. A famous example of this scam is Bitconnect.
Do not make a digital copy
It is the biggest mistake both experienced and first-time crypto users make by making digital copies. Digital copies can be taking a screenshot using a desktop or laptop, taking an image using a smartphone, pasting and copying the code in an email, etc.
Using a VPN
A Virtual Private Network secures your connection and encrypts all the information you share online. It is always preferred not to open an email from an unknown person or share anything online regarding cryptos. Also, take a VPN connection which will create a protective barrier around you so there is no chance hackers can track your details. Debestenvpn is a perfect solution you can consider if you need a VPN.