Beginners Guide

As a beginner, you are likely to fall into the trap of scammers. So, it’s important to learn how you can secure yourself and your wallet from scammers. Some simple measures and judgements can help you to avoid scammers.

So, how we can avoid them? what tricks they use to scam us? how to identify scammers? We will learn about these in this article. So, let’s get started…

Identifying A Scammer

First and the foremost thing we need to learn is to identify a scammer. Scammer uses many tricks to make you believe that they are not a scammer and are there for your profit.

Here are some common signs by which you can consider a person as a scammer:

  • An unknown person will suddenly message you. He will reply you fast as if he already have in mind what your response to the message would be. He may not ask you for your money or related things first but eventually he is trying to
  • You got a message or mail that you have won a huge prize. But you never even heard of the event and never participated in it
  • Someone pretending to be an admin/member of a team of $OVRL or other Tokens that you are investing on. And asks you to send your Tokens to another wallet to recieve rewards or new version of the token
  • Someone may message you with a suspicious link to earn more $OVRL/Other Tokens or to multiply your Tokens.
  • Someone asks you to connect your wallet on a website or use wallet private keys to stake/earn or check statistics or any other reason.
  • Someone tries to borrow your $OVRL or other tokens and says to back 2x or more in few days
  • Someone pretending to be a member of a support team of a Wallet you are using and says that your wallet is having some issues, to fix them they need your private keys.
  • A crypto person is trying to be your friend but he is eventually asking you a lot of things related to your wallet and tokens. And assuming to be a hopeless person and win your heart.

These are the common signs that helps to identify a scammer but the scammers are always looking for new ways to scam you.

So, before trusting anyone or anyone’s words related to crypto, you must analyze their behavior and testify them. It’s recommended to not to share your wallet address with unknown persons where they can target you (e.g. on Telegram)

Common Tricks That Are Used By Scammers

Scammers will always try to use different strategy and tricks to scam you and steal your money. Here are some common tricks they usually use to scam:

  1. Pretending To Be A Telegram “Personality”: This is one of most common trick of the scammers. They pretend to be an authority or one of the core member of a token. They will copy the profile picture and screen name of a Telegram group administrator and use the username name as close to the real persons username. Then they will send a private message to you pretending to be a authority figure.
  2. Pretending to be a Channel: Instead of pretending to be an authority figure sometimes scammers also pretends to be a channel and send private messages to you.
  3. I’m your friend: Sometimes they are more sophisticated. They will send private messages to you out of nowhere or may try to make you a friend in main chats. They may set up real looking profiles and often speak more proper English. They may even seem to have good knowledge in crypto. They will blend in with the chat, answering questions and helping you at the beginning

These are the common tricks that a scammer may use but as usual, they are always trying to use different unique tricks to scam you!

Staying Safe From Scammers Trap

You will only have a chance to get into the trap of a scammer if you interact with them. So, it’s better not to interact with unknown person who suddenly/quickly get into the subject “crypto” out of nowhere. Here are some steps that you can take to stay safe from the scammers trap:

  • Don’t interact to private messages about crypto from a person that you don’t know
  • No Authorities will ever send private messages to you first, so avoid them if anyone pretends to be an authority and messages you first. Don’t interact with them
  • NO person with good intentions will ever ask you to move your crypto into a different wallet and send private message to you with instructions to do so. Don’t interact with them
  • Before interacting with any websites related to crypto, make sure you trust them and is the official website of the specific asset
  • No person should EVER ask you for your wallet private keys. Never ever share your private keys with others
  • Channels can NOT private message you. Only individual users can. If you have a private message from a channel, it is a scammer.
  • Never send your crypto to an address of a friend, authority, channel, or anyone when they asks you to do so
  • Avoid ICOs that has no social presence or way to communicate with other investors (such as Telegram)
  • If anyone says that they will give you crypto for free, avoid them! There’s nothing completely free in this world
  • If you get a message of wining crypto or something that you never participated in, it’s a scam. Avoid it.
  • Don’t open any suspicious links or connect your wallet to any unknown websites
  • etc

Avoiding Scammers

Prevention is the best cure. It’s better to prevent scammers from reaching you rather than becoming their next target. Here are some steps you may follow to avoid scammers:

  • Never post screenshots of your assets/balance in any community or social media.
  • Never share you wallet address to any community or social media
  • Never accept friend requests from an unknown crypto person
  • It’s better to ristrict others from messaging you except becoming a friend first.
  • Never participate in an ICO without analyzing their social presence and reviews on other platforms (such as Trustpilot, Token Explorer, disqus, etc)
  • Never connect your wallet to any unknown websites via wallet connect
  • Make sure you avoid interacting with good amount the tokens that you suddenly get from nowhere and never brought.
  • Always check the comments from the token Explorer or any other review platforms before investing in a token
  • Avoid investing in new tokens that is created just few days ago or got listed into CMC and Coingecko Just few days ago. Analyze them first
  • Only refer to the official website of the assets you have, make sure to double check the website address before interacting with them
  • Only join the official groups and communities of the assets you have, make sure to double check before joining

By following the above steps, you may not likey to be scammed but it always depends on you. You have to do your own research before interacting with anything or any person to avoid being scammed. Thanks!

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March 2023