PointPay: How to Avoid Crypto Scams in Summer 2022

How to spot a crypto scam

Promises of high returns

A poor or no white paper

Check that blockchain

Crypto buzzwords and hot tips from ‘experts’

Anonymous or unknown team members

Protecting yourself from crypto scams in summer 2022

  • Protect your wallet. If someone from the customer support of your wallet asks you to share your password or private keys, it is definitely a cryptocurrency scam. Keep your wallet keys private, and never keep the recovery phrase online — it is better to write it down on a piece of paper and leave it with other important documents. Furthermore, keep an eye on your wallet application.
  • Never send crypto to unknown external addresses. Reputable trading platforms like PointPay will never ask you to send cryptocurrency to external addresses to verify your account. If you received a message with such a request supposedly from a representative of the wallet you use or exchange, it is definitely a crypto scam.
  • Be patient and take your time. Fraudsters often use high-pressure tactics to get novice traders to invest money quickly. They can promise different time-limited bonuses or discounts. Before participating in such a deal, do your own thorough research — check the official website of the project as well as social media. If a project is trustworthy and a deal is not a crypto scam, there should be official announcements on Twitter or Telegram.
  • Download apps only from official platforms. Even though fake and scam apps can end up in the Google Play or App Store, it is safer to download them from these platforms than elsewhere. But first, check the official website to ensure the project has the application.
  • Invest only in something you understand. If something seems not clear to you, it is better not to transfer your money. Don’t make rash decisions — take more time for thorough research, and talk to experts and community members.
  • Be careful with social media ads. Crypto scammers often use social media to promote their fraudulent schemes. And this is logical because posting something on Twitter does not take much time or effort. Fraudsters might also use unauthorized images of famous business people and media personalities to create a sense of legitimacy. It’s always best to maintain a healthy skepticism and do due diligence.

Final thoughts

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PointPay

PointPay

Cryptocurrency Ecosystem: pointpay.io Crypto Bank, Exchange, Wallet, Payment System. Buy Bitcoin → https://payments.pointpay.io/ Earn up to 30% yearly with PXP.