Ways To Protect Yourself From The Most Popular Cryptocurrency Scams

Cryptocurrency has become the latest trend. Along with it comes cryptocurrency scams in various forms. The entire crypto ecosystem is plagued with fraudulence that most people cannot spot until they lose their cryptocurrencies. The crypto scams vary in type and size. While some are pretty simple and obvious, the others are much more complex and difficult to avoid.The past several years have experienced a rise in cryptocurrency scams both in terms of numbers and variations. The crypto scammers come up with different new techniques that innocent people cannot keep up with and fall prey to.This article will discuss the most popular crypto scams that you need to avoid at all costs.There are a host of cryptocurrency scams that you may often encounter. Most of these scams are meant to extract your owned cryptocurrencies in some way or the other. Below are some of the most common variant of cryptocurrency scams:Telegram Scams: Often, various Telegram channels and accounts advertise for cryptocurrency giveaways, airdrops. Some even bear scams using the tech support trick where the users trust having their accounts need fixing as it has some problems. The scammers might ask for cryptocurrencies in order to fix the users’ accounts.Impersonation Scams: Using the technique, the scammer offers the users to help in opening a new account. They obtain the users’ KYC documents tricking them and complete the account verification. With this, they have complete access to the user’s account. Through this, they also clear out the funds from the victim’s account. They do this by swapping the funds with Bitcoin for withdrawal into their accounts.Apart from these, various other new techniques have evolved to help the scammers continue their purposes, such as investment scams, giveaways, phishing scams, and employment scams. Most of these take place via social media.Here is how you can…