What are crypto currency scams? and how to stay away from them.

We've been using fiat currency form of money made out of paper extensively to buy any type of goods and products it's orgin dates back to 11th century when china used fiat money notes then after long time in early 18th century of modern government United States of America government started printing fiat currency with it's own symbol and value according to economy and gold reserves then said people to consider it as money.

Fiat currency is thin and easy to use due to its flexibility at first many people used to don't believe in it but eventually as there is no choice almost everyone begin using fiat currency in America after that one by one numerous countries governments started printing thier own fiat currency following america due to that eventually in just few years people around the world shifted to fiat currency to make or receive payments prior that humans depended on ancient times barter system, gold, daimonds etc.

Anyhow, money in any form that you own should be in safe place else it can snatched by thief's in beginnings people used to store thier money with themselves or in home then later we got much better security systems came in place known as banks which employs professionals to protect your money at first they used to store only gold and daimonds but later on due to demand from people globally and intervention of governments banks begin accepting fiat currency as well.

Banks either owned by country government or private companies gone through alot of improvements especially since the entry of fiat currency by fixing existing loop holes and adapting to new  technologies due to that we got modern banks which provide ATMs and digital services through internet on world wide web accessible on computer since year1991 by using them you can manage or send and receive money easily around the world electronically and digitally.

Even though, In mid 19th century banks have way more secure methods and technologies to protect your money that was even further extended over the years still criminals using various techniques to snatch from banks including that banks require all your personal details and don't provide transparency on how they work and store or use your money that can cause privacy and security concerns.

Especially, the lack of transparency in banks making them to commit frauds and scams like illegally robbing your money then escaping to another country by bank founder or it's employees or by providing your money in big numbers more then the it's bank capacity to rich people for high interests then unable to recovery them due to that many people lost money globally.

Fortunately, Almost all countries governments for people developed and introduced number of laws and policies for banks to restrict them from committing any types of scams or banks but still they are able to do mainly small banks even if you have banks that don't do any illegal activities still they lack transparency so at the end you may always can't trust banks.

In year 2009, on January 3 Satoshi Nakamoto an anonymous person released decentralized digital crypto currency named Bitcoin that uses Web3 concept of internet to replace fiat currency and untrustworthy centralized mediators like banks to provide privacy using it's crypto wallets that don't require any personal details to store Bitcoin like name, email, address etc isn't amazing?

In terms of security Bitcoin using it's proof of stake system where all your Bitcoin transactions are checked and verified by numerous miners using computer power by solving algorithm blocks thus it's fraud proof including that transparency via Blockchain explorer over there you can find any Bitcoin wallet address total value and transactions are recorded and shown in real time publicly for anyone.

Bitcoin is revolutionary decentralised crypto currency which price is not decided and fixed instead it's volatile as it depends on buy and sells at first Bitcoin didn't got much audience as founder wanted organic growth without advertisements and partnerships etc that helped to gain loyal investors and with in few years Bitcoin got huge attention and recognition from people around the world due to that it eventually become most valuable crypto currency.

Fortunately, many developers and companies inspired by Bitcoin created thier own crypto currency for Instance Vitalik Buterin created Ethereum with it's own open source network in year 2013 that later on got #2 spot most valuable crypto currency next to Bitcoin despite it's high fees scalability issues after that we got alot of crypto currencies adapting to new technologies and millions of tokens created using existing crypto networks by individuals or teams and companies etc  for personal or commercial purposes.



In sense, crypto currencies are advanced and powerful with potential and capability to totally replace fiat currency in future due to that several countries already accepted crypto currency as legal money including that it has huge demand and craze globally which is why crypto companies and enthusiastics mainly from past years in the process of upgrading Internet to Web3 created many external crypto decentralized digital platforms Integrated in crypto wallets known as dApps like decentralized finances and exchanges etc to manage your crypto currencies more efficiently.

dApps simplified the usage of crypto currencies by providing alot of new options and features which not only allow to manage your crypto currencies convieniently and comfortably but also further extends security and privacy with transparency because of that alot of new people especially millennials and Gen-z investing in crypto currencies.

However, just like banks even in crypto currencies there are scams usually done by official crypto currency founders and developers themelves or third party individuals or unregistered unknown companies who find and use various methods and ways on world wide web of internet to trick and trap you into thier crypto scams and frauds if you by chance entered in thier boon then you will surely loose all your crypto currencies.

Generally, you won't find scams and frauds from top crypto currencies like Bitcoin and Ethereum etc which are been there for atleast decade but from past few years everyone able to create crypto currencies for 1 to 3$ due to that millions of new NFT aka non fungible tokens getting into crypto market every day out of them mainly large number of new ones like 1 day or month old are fake created by scammers who has no long time goals but attracts you to buy thier NFTs with promotions then once they get enough buyers they most likely close it or swap them using same NFTs that they personally stored in private not publicly supplied to other popular crypto currencies due to that value will become 0 and you will lose money which may go on until scammer decided to stop this.

There are different types of crypto scams and frauds out of them main one is fake smartchain crypto currency platforms where they ask you to invest thier own or any other popular crypto currencies to buy  plans like basic, pro or expert etc once you done that they will show you levels when you upgrade or invite more people into thier fake smartchain network they will say to provide reward commission or increase  your daily or monthly earnings with level ups based on thier pre-shown time line but they will not instead once you send crypto currency tokens to them they simply don't reply and give anything due to that all your and refferals who invested money in it will be totally wasted for sure.

It is bit hard to determine which is geniune and fake investment and refferal based smartchain crypto currency earning platforms as the fake looks more genuine then genuine one itself for Instance fake ones usually hire top customer service employs then design thier websites and other digital platforms with experts to attract you in first glimpse then convince you by replying all your questions sweetly in start until you invest in them after that like always backstab you without replying to your questions by that time you'll know you got scammed smartly.

But, we have few ways to identify such fake smartchain platforms foremost search on web regarding that platform which you want to use if you found people even in few members says it's scam don't invest it after that check it's offers if they provide huge return for small investments then for sure it's scam as normally most genuine ones don't provide high returns for small tiny investments as it's not possible so kindly stay away from them infinitely.

Now, usually if you're into crypto currency investments then you may probably know there are many crypto currency wallets and exchanges like stocks as both have similar characteristics right? In case of crypto currency we have both centralised and decentralized crypto currency wallets and exchanges out of them majority are genuine but few of them are totally fake created and released by scammers with spyware that take screenshots secretly or in back end transfer your crypto currencies to some unknown crypto currency wallet address without your permission which is why it is always better to use trusted and well known reliable crypto currency wallet 
and exchanges from trusted sources else you'll end up got vanishing everything.

The next crypto scam that most crypto currency investors especially new ones face is with fake crypto air drops you may very likely partnered or joined in them already isn't? If yes or not to be clear not all crypto air drops are fake alot of them are genuine provided by founders of crypto currency for limited period of time like few days or months until they reach thier goal when you register in them you have to pay little transaction fee based on crypto network after that automatically you will get crypto tokens of that airdrop instantly or after the end which may have more value that's fine and understandable as you were benefitting from it but some airdrops can reduce your crypto assets.

You will find thousands of paid free airdrops right now on internet out of them many are fake ones created by scammers with no long terms plans and goals for instance fake paid air drops ask you to buy with some popular crypto currency like Bitcoin or Ethereum etc then once you do that they will not send any crypto currency tokens to your wallet and then comes free fake air drops where you just have to pay transaction fees but here's a catch the transaction fee including service fee is profit of scammer who neither give you free airdrop rewards even if they do still they most likely unworthy ones so beware of this only join valuable air drops by checking model and white paper etc.

Fake air drops are most common scam faced by new crypto currency investors after that fake send crypto currency get it double in return by today or tomorrow crypto currency digital platforms are booming up from past few years created by scammers where you have to send any crypto currency or token of any value that they asked once you do you will not get any thing in return even if you do in the beggining days that is basically trick to 
attract you to make bigger investments after you get addicted they stop sending back which is why don't get trapped but in 
any case if you strongly want to invest in them then make sure to only invest tiny amount that you can afford to loose.

Unfortunately, you may also find fake crypto earning and gaming apps and websites where you have to complete tasks or invest your crypto tokens to play the game of your choice from the available list over there even if you full-fill thousand tasks or invest you will not get penny in return you may say that as gambling but I say it as scam as most of them created by crooky scammers with code to make you loose every time so it's up to you either to use them or not after that alot of newbies get into fake mining websites and apps.

Thankfully, Mining is available in every crypto currency which uses your electronic devices power using software to solve algorithm blocks of crypto currency to authenticate and verify transactions for that you will get little percentage of crypto currency tokens in return but that require powerful hardware which is expensive else if you try with basic hardware available on smartphones it take years to complete one transaction that not even provide 1/10 of 1$ which is why majority of crypto miners now a days using cloud servers and pools.

Newbies who just learned about crypto currencies get attracted to crypto mining that's cool as it rewards you crypto tokens for just installing an specific software on computer or smartphone then run it in background until it reaches withdrawal threshold while most of them are genuine that many pay you even after years but wait some are fake created by scammers where even if you reach payout threshold still they won't pay as that softwares used your hardware power for thier earnings.

Atlast, majority of crypto currency scams and frauds happen in popular social media networks and messaging platforms like Telegram created by Pavel durov and Nikolai durov initially released in year 2013 is an privacy and security focused social messaging with powerful and advanced options and features who are known for not complying and providing private messages keys to any country law enforcement agencies due to that it is well used by extreme privacy carers.

So, Telegram is used by black hat hackers and criminals to do various types of scams mainly crypto as they are nearly impossible to trace by anyone same as TOR aka the onion router project vpn and darkweb where you will some times contacted by scammers with profile pictures of expert and professional business clothing style with sweet and favorable messages asking you to enroll in thier bots or websites to earn passive crypto currency income but most likely they are fake ones which don't pay you including that there is high chances of getting hacked so completely away and don't reply them in first place.

In sense, you will find crypto scams in every possible place on world wide web of internet not just in Telegram but also other social media and social messaging platforms it's based on scammer risk appetite and current available anonymity technologies with him according to country laws which is why always make sure don't fall in crypto or any scams.

Atlast, be alert when an unknown person send any link to you with unbelievable offers mainly related to crypto ones don't click on them that may be phishing links to steal your credentials or inject spyware into your device in that way you will be in safe zone even if you somehow get scammed then try to bring awareness regarding this by saying about those scammers to your community and fellas then report it after that try to don't fall in that same or other crypto scam trap again.

Finally, this are some top crypto currency scams and how to stay away from them, are you an existing victim of any crypto currency scam or fraud? If yes do say your experience and mention why and how you got scammed with scammers name or link in our comment section below so that fellow viewers will see to not getting scammed in near future, see ya :)
Tech Tracker

I'm Mark Evans from india, I like technology and it's related fields from childhood being very passionate to read and share knowledge, I made this blog in focus of sharing technology topics In simplified manner.

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