So in this post i will be explaining about whats scam and whats not scam. Its actually not too hard to avoid scams and earn money instead. If you aren’t sure how to make your crypto work for you in legit and legal ways you can check here.
I will add a section for each kind of scam there is so you can find it easier within the article. I know this article wont generate much traffic, but i need to give my readers and fellow crypto lovers tools to avoid scam.
In this digital age the amount of scam and scam ways are only growing by the day. Most of them are paying at first, but thats how they get you. The more people who join because of that they are paying the more money they can steal.
Investment and Cloud Mining
Investment and cloud mining sites are some of the most used ways to scam. They lure in people with crazy returns that is far from possible from a business view. Anything giving more then 0.02% a day could be seen as scam. 0.02% is what you get a day from a real place like Stakecube on coins like Bitcoin, Dash and Litecoin. Stakecube also have an exchange to support this interest rate of your crypto. Investment and Cloud mining sites dont even tho they claim they can with trading or gear they dont have.
Beside Stakecube you can also do DeFi like Biswap. Legit sites only use APR and not daily reward. I know that DeFi projects have high APR’s but they are limited to one blockchain mostly and do also have a lot of things supporting this amount.
Don’t have me started on Telegram bots. They come in all sort of forms. Airdrop bots airdropping a known coin like tron or ETH and so on. Mining Bots, trading bots and so much more. out of 1000+ bots on telegram i’ve only found a very few that is legit. These bots i found that is legit is PTC bots.
These bots above pay you for viewing websites, telegram groups and more. Have in mind it do have scams advertised on the platform like any advertising system.
Also watch out for people who act like admins of groups and companies. Also people you write about investments randomly to you. Theses people wanna steal login info and your crypto in every way possible.
Token Sale Scams
Token sale scams are often made up of companies that already is up and running. Like the one in the image trying to lure users of Torum.com and others to by fake XTM. These are easy to avoid, check for the real coin on coingecko, go to the website link listed there and join any of the socials on the coins/tokens website and ask around for the airdrop you found.
Also you can always check the counter on the site, often they reset time on page reload tho not all.
I personally hope this post helped you avoid scams, i know there is a lot more, but its a start. You are welcome to post scam warnings in the comments. Remember you can support the work we do by donating here. You can also support with a share.