Popularity also brings risks and this is the case with digital currencies. It is necessary to take into account some precautions, in order to avoid being one more victim within the wide sea of investment. Therefore, here are some ways to protect yourself against theft and cryptocurrency scams.

How to protect against theft and cryptocurrency scams?

Search for reputable exchanges and purses

One of the ways to protect yourself against theft and cryptocurrency scams is to refer to reputable exchanges and wallets. This way, you can avoid deceptive apps that damage your devices or take away your personal information and money. In addition, the exchange offices also provide information about the currencies, charts and analysis tools for your next movements.

Among the most recognized exchanges is Coinbase, which has a wide diversity of cryptocurrencies, as well as low commissions, good customer support and an easy-to-use interface. Another reliable exchange is Kraken, which operates in more than 150 countries, having a high daily transaction volume. Binance is another leader in the area, having the lowest commissions within the houses available. For its part, eToro is one of the best options for beginners.

Wallets, on the other hand, are classified into different types. You can find them paper, hardware or online. It will also be a decision adapted to what best suits you, although the best option will be the hardware, since it is a sophisticated pend drive where you will keep your assets safe. Among the best cryptocurrency wallets are Exodus, Coinomi, Atomic Wallet, BRD Wallet, Electrum, MyCellium, Metamask, Legder Nano X and Trezor Model T.

What are phishing scams with cryptocurrencies

One of the most common scams in the world of digital finance is phishing. Hackers are the order of the day, trying to steal the information stored on the millions of devices that are connected to the network. Therefore, to protect against theft and scams with cryptocurrencies of this style, we recommend:

Avoid clicking on misleading links that reach you by e-mail. It may happen that they even have the logo and the name of one of the aforementioned exchange offices, but you should avoid clicking on any communication that comes to you and go directly to the website to see if there is something related to what you read in the e-mail. You can also call them directly.

The same goes for misleading text messages. Avoid clicking from your mobile device, as they might be trying to access the information you have stored inside, keeping passwords and usernames. Avoid saving important passwords in the browser. Many browsers have the option to automatically save passwords. However, avoid accepting this option at all costs when it comes to banking transactions.

Don’t believe in suspicious phone calls where you are threatened that they are looking for you because of a certain crime (by mistake) or where they are trying to offer you something you didn’t ask for in the first place. Use a good antivirus on your computers and mobile devices, especially if you handle large amounts of money or if they belong to a company.

Cryptocurrency gurus and pyramid scams

Another way to protect yourself against theft and cryptocurrency scams is to avoid falling victim to gurus and pyramid schemes. These have always existed, but nowadays cryptocurrencies lend themselves too much to proliferate even more. Gurus will always promise:

• The solution to the economic problems of your life, since they know how, when and where to invest to be millionaires in an instant.
• How to get a Ferrari working from home only 1 hour (or this kind of impossible).
• The never-before-revealed secrets of cryptocurrencies, which will only give you, the chosen one who is watching your video or visiting your page. (Of course, you will have to pay a sum to be able to access such precious knowledge).
• The total solution for cryptocurrencies to offer you a return of 100% or more on your investment (which in most cases is impossible, and even more so if you are a novice in the area).
• “Commissions” for calling a friend to also get the precious knowledge of the cryptocurrency guru.

In order to differentiate pyramid schemes and false gurus from what is true, we recommend that you keep three points in mind:

1.- If something seems too good to be true, it’s because it’s not. Within the world of cryptocurrencies there are no miracles.

2.- Information regarding finances, cryptocurrencies, charts, forecasts and investments is found on the internet for free in most times. You can inform yourself and become an expert with constancy, study and patience, without paying exorbitant sums for miraculous courses.

3.- It is not possible to get a Ferrari working from home 1 hour, it will require a little more work.