Have you finally invested in crypto and you’re scared of crypto fraud? Well, here are a few ways to avoid crypto fraud.
You might be wondering what crypto fraud is. This is when someone tries to gain access to your digital wallet without authorized access. Additionally, a hacker might try to get your authentication information from your crypto wallet.Examples of crypto fraud include:
- Phishing attacks
- Blackmail
- DeFi rug pulls
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Ways to avoid crypto fraud
1.Use two factor authentication
Two-factor authentication is a great way to ensure no one scams you of your coins. This is an additional security step that requires you to confirm that you’re the owner of the account before getting access to it. Two-factor authentication keeps your wallet safe and secure from unauthorized access and fraud.
2.Do not share your private key with anyone
Your private is like the key to your home. You just don’t give it to anyone and expect your home to be safe. Ensure that you are the only person who knows your private key to prevent scammers from getting access to your account.
3. Avoid using third party tools to access your wallet
You see a computer somewhere and the first thing you think of is accessing your wallet. Slow down a bit. You don’t know the type of WiFi access network connected to the computer. Let alone who else can access the information you’re keying in.Try to use private trusted networks when looking at your crypto wallets.That way you can save yourself from fraud issues.
4.Don’t trust information that seems sketchy
So you’ve seen a site where you could get free cryptocurrencies by liking a certain picture. Do not fall victim to such. Always ensure that you get your currencies from safe and secure sites that will not make you lose the other coins you have.
Try these measures and keep your crypto safe and also secure.
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