Although cryptocurrencies have had a rough few months, the interest in investing in this currency has not diminished.
Likewise, scammers have not lost their interest in these digital currencies either. One of the smartest schemes run by criminals is to set up a 100% fake cryptocurrency and get people to invest in it.
Taking into account the current panorama, here we present the "Red Flags" when it comes to investing, so that people know what this modality is about and how it works.
1. Promises of guaranteed return on investment
If a crypto guarantees returns, stay away from it. Cryptocurrencies have high potential for huge profits, but they are certainly not without risk. In investing, there are no guarantees.
2. Direct promotion
Scammers will create fake social media accounts and send you private messages encouraging you to invest in their new crypto. You can be bombarded on all fronts: Instagram, Facebook, Twitter and more.
3. A website with many grammatical and spelling errors
If you see a typo or poor grammar on their official website, the crypto you are considering investing in is most likely a scam.
4. Hard to buy
Major cryptocurrencies are now available for purchase on all major cryptocurrency exchanges including Coinbase, Binance, and Crypto.com. If a cryptocurrency cannot be found on any of the popular exchanges, it is likely a scam.
5. Bad reviews
Search the internet and check for any related reviews. Don't just rely on one source, check out social media, online forums, and dedicated review websites.
How to protect yourself?
Be skeptical: if it sounds too good to be true, it is.
Do not click on links in messages sent to you by unknown senders.
Use Trend Micro Check to easily detect cryptocurrency scam websites in real time. This is a completely free app and browser extension to detect scams, phishing attacks, malware and dangerous links. Available for Android, iOS, Safari, Google Chrome and Microsoft Edge.
crypto mining
On the other hand, it is now possible to optimize crypto mining with Trend Micro Crypto Mining Optimizer, an all-in-one crypto mining application with integrated mining hardware detector, mining profitability calculator, Coinmarketcap and news feed to help mining and cryptocurrency trading more efficient.
Among its benefits are:
Mining App Download Center
It allows you to view which mining applications are the most popular and download them safely to the device. Comparing their popularity, mining pool fees and more.
Mining Profitability Calculator
Automatic detection of local hardware (including GPU) helps calculate potential net mining profit considering local electricity costs.
mining hardware
Provides a full breakdown of available crypto mining GPUs, including daily earnings, power usage, efficiency, and net earnings.
coin tracker
Cryptocurrency price tracking. It is possible to know which cryptocurrencies are in fashion to know when to buy, sell and hold.
The latest crypto news
Access to the latest crypto news, including market updates, mining rig prices, and much more.
Thanks to advances and technology it is possible to have new sources of investment. However, it is necessary to know how it works and be aware of the risks that the cryptocurrency market itself can present; Remember that as cyberattack methods evolve, so do digital assets.
