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As part of Donald Trump’s successful presidential campaign, he sought to ally himself with crypto users and investors who had suffered under the Biden regime. A commitment to providing support and infrastructure that would facilitate industry growth saw cryptocurrencies rise significantly in value.
Consumer confidence and improved adoption among retailers and services have helped to increase the number of people now willing to consider crypto investment. The many benefits of crypto include improved access to finances, easier and faster transactions with lower fees, and the potential to see high returns on investments.
Unfortunately, as with any financial product, there is the risk of scammers attempting to defraud consumers out of their hard-earned money. This emphasises the importance of finding legitimate sources that can help with crypto purchases, with expert advice on how to buy Bitcoin and other popular cryptocurrencies. Anyone seeking information on how best to safely invest in crypto and store assets securely can click here for more actionable information and useful tips.
Being aware of active scams is a great way of avoiding them, with some more sophisticated than others. One example of a recent attempted crypto theft in South Carolina’s Oconee County involves a threat made to someone’s family member, demanding Bitcoin valued at $20,000.
While the anonymity and privacy that crypto offers its users are a massive benefit, it has emboldened some criminals, like in this case, to act recklessly with the belief that the transaction will not be traced after it has been made.
More subtle methods can also be used where consumers are lulled into a false sense of security by scammers, with some attempts taking place over the course of months. False businesses and websites can be created to back up a story, with the scammer eventually requesting payment in crypto.
It is important for South Carolinians to remain aware of the threat of crypto scams, without being scared off from their potential. There are ways to stay safe, including refraining from giving in to threats or being hurried into making a payment, especially if the method involves cryptocurrencies.
Traditional banking methods typically have ways of tracing transfers, with anti-fraud services employed by financial institutions and customers enjoying additional cover. Being asked to pay using cryptocurrencies means that the transaction will be more difficult to trace.
Phishing attempts by email or suspicious messages and phone calls should also be treated with caution. If you have concerns, investigate further and don’t click links sent directly to you. Make sure to keep all correspondence involved with transactions, and contact your local authorities immediately.
The more information they have to go on, the better chance they will have of finding the scammers and ending their attempts. Seeking recommendations from trusted sources can help minimize the risk of fraud and crypto scams. Looking online and sharing your experiences can help other consumers avoid scammers, helping to build a network of people who help each other.
Researching a crypto project before investing should be a priority for consumers, and learning more about the team involved in its development will also help to identify legitimate options with potential.
For many, exploring established cryptocurrencies, reputable exchanges, and finding a secure wallet will be a priority when starting out. The risk and reward of smaller and newer crypto projects can be tempting, and having as much background information will help determine how much risk is involved.
Crypto transactions should only be carried out with trusted receivers, and further investigation should be carried out if there are any doubts at all. All financial transactions carry some level of risk, but remaining vigilant, especially when being asked for payment, can help identify attempts at fraud.
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