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Avoid These 5 Types of Scams

The scam is not limited to banking transactions and payments only. There are different types of scams that are used to lure traders and investors into traps. If you are into forex or bitcoin exchange then you need to be aware of 5 types of scams that are circulating in the market right now. Different types of scams are conducted in different ways so most of the time the victims don’t realize the situation until it is too late. Stay up to date about these common types of scams that can cost you money and fortune.

Email scams

These types of scams use emails to entice the victims to send them money. The common technique is for the scammers to keep the conversation alive by sending another email. The text of the email is similar to the previous email. In the initial mail, the scammers would ask you to send money to an account or send some information about you to an administrator. This is to build trust between the two parties. The scammers then ask for the bank details such as the e-wallet provider or banking details and some other personal information. If you send the information they will send you another email requesting for the sum of money. Once you send the money or information you will never hear from the scammers again.

Fake ads

This type of scam can be committed by online advertisements or websites. The scammer could create a fake advertisement to lure unsuspecting users into trading bitcoin on different platforms. This kind of scam targets people with low knowledge of digital currencies and foreign exchange trading. Real crypto scam It’s another type of scam that attacks traders and bitcoin miners, these are the people who run computers for mining bitcoin and other cryptocurrencies. When you come across such ads online it might lead to other forms of scams. This type of scam comes in different forms, here are some of them.


This is a process where someone (mostly online) pretends to be a CEO or some famous figure in order to trick people into thinking he has more money than he really does. He or she promises investors to provide liquidity or speculate on the market so that they can make more money at the expense of other investors. So in order to avoid such situation you need to do your due diligence by doing your research before entering into any deals. Buyers and Sellers to Cooperate? In this type of scam, usually the sellers are the clients who are actually searching for a seller. The clients will come to the merchant’s site, scan barcodes of products to find items that match the product specifications. If the product meets the specifications they then contact the seller for payment.

Unsecure sites

The internet is full of some shady websites that lure victims. Just because a website is secure, does not mean that you should trust it. Especially when you are using a public connection it’s important to ensure that all the sites you are connecting to are secure. Although the chances of getting scammed using an insecure connection are very slim it is recommended that you avoid such sites. Job offer that ends up being fake Although you do not need a professional criminal to scam you it is still a possibility especially when you deal with people on the internet. Most of the time scammers set up fake companies or services that exist to lure people into a fraud scheme. If you receive a job offer on the internet it is recommended that you research a little before you make the payment.

Fake cryptocurrencies

More than half a million people invested in crypto currency. Some of them who managed to secure their own cryptocurrency, they were happy that they won’t have to use bank or transfer again. However, majority of the people who invested in crypto currency are not allowed to withdraw their money as the transaction has not been completed. After losing their money they were left with no option but to wait for their transactions to be cleared. However, some scammers managed to trick some investors into sending them cryptocurrencies and the said cryptocurrency doesn’t exist. This time, scamsters have an edge over the victims by mixing all the available cryptocurrency in the market to make them look like legitimate investment. Bitcoins and Ponzi Schemes Bitcoin is touted as the digital currency.