The cryptocurrency market is still growing and getting mainstream attention. As such, cryptocurrency scams continue to gain traction and unsuspecting victims.
If you’re looking to get into the world of trading Cryptocurrencies and looking for a trusted source to do so, that’s probably not where you want to be. There are many scams out there, and the majority of them are run by people looking to make money off of unsuspecting victims. The best way to avoid being scammed is to only look at trusted websites. Here’s how to identify a scam website:
1. Learn About the Site.
First, look for a website that has the word “Bitcoin” on it. A site with the name “Bitcoin” should give you a good indication that they are legitimate and credible. There are many different websites in this category like icoalerts.com and coinmarketcap.com
Next, take a look at their website address or URL to see if it is reputable or not. If you come across a site with an unusual URL like “www.bitcoingetrichip.com” that gives you pause, then it might be worth looking into further to see if they are a scam site or not.
2. Don’t Fully Trust Any Exchange Reviews.
Yes, the reviews on websites like this one are helpful. But they don’t always go into detail and sometimes are biased. Additionally, many people provide reviews anonymously, so you really can’t trust that user.
Instead of relying on website reviews, look for other indicators that a website might be a scam. For example, if an exchange is only offering to pay by credit card or wire transfer, it might be a scam because cryptocurrency transactions are never processed through these methods and it makes it easier for the scammers to steal money from traders. You should avoid such exchanges to work with reputable ones like Bitcoin Trader or Coinbase.
If an exchange is asking for your personal information to trade, it might be a scam as well because you have no other way to verify their identity with them.
3. Look for Extremely Long Website URLs.
One way you can identify a scam website is by looking at the URL. If your URL is extremely long, that’s a huge red flag. It should be short and user-friendly.
Another way to identify a scam website is by looking at the website’s top bar. If it has “Buy Bitcoin Now” or “Get Free Bitcoins Here” on the top bar, it’s likely a scam site. Additionally, if there are lots of ads with promises of free Bitcoin or some other cryptocurrency, it could be a sign that they are trying to get money out of their victims. If you see an ad like this, contact the company and ask them what they offer in exchange for your information or payment.
The last way to identify a scam website is by finding out who owns the website and looking up their public information (like an address). If everything looks legitimate, but nothing further about them can be found, likely, they’re just operating under an anonymous name as part of their scamming tactics.
4. Look for Overly Pushy and Highly Speculative Tweets.
If you’re looking to get into the world of cryptocurrency trading, then you want to avoid overly pushy and highly speculative tweets.
Do not trust anything on social media that sounds very intimidating or is too good to be true. This includes tweets from anyone who has a lot more followers than their actual following. If someone has a large number of followers that don’t seem real, it could be an indication that the account is run by a scammer.
5. Look Out for Fake Blogs and Forums.
One of the easiest ways to identify a scam website is by looking at their blog. If the blog has no credibility or history, that’s a red flag.
Another way to identify a scam website is to look at the forums they use which are also often used for marketing campaigns. If you see that the site uses spammy tactics like referral links and other strategies, that’s another red flag.
The best way to avoid scams is to only deal with trusted websites that have proven success and are known in the industry.
When it comes to Bitcoin trading websites, be sure to do your research before you sign up. Don’t just trust any review that seems too good to be true! Be sure to look out for any suspicious elements on the site, like extremely long website URLs or overly pushy and speculative tweets. If you don’t see anything that concerns you, then feel free to sign up and start trading!