The most convenient type of communication in all cryptocurrency projects is Telegram. Any project has a channel in the popular messenger. But due to hyperpopularity, scam in this area is spreading like a weed. Unfortunately, even experienced users often get hooked.
The most common type of fraud is pump and dump manipulation. Surely most users know about this kind of bidding. They in themselves are a dubious idea, because you can earn on them only by having a quick reaction and a ton of luck. But when such trades are arranged by scammers, only they remain in the black. they buy the declared coin in advance and sell at an inflated price.
Another common scam is earning on ICO-clubs. Ideally, experienced cryptanalysts gather in such clubs and invite all those who wish to make a contribution to promising projects. However, many scammers, calling themselves professionals, collaborate with unreliable projects and make good decisions on this. Naturally, ordinary users are not only not enriched on such projects, but also suffer losses.
A new type of scam has appeared in Telegram. Users for a fee are invited to a private chat, where, according to the administrators, you will be helped to understand the intricacies of crypto business and will learn how to earn well. But this is a trap, the chat is empty, they will not give any practical advice in such a chat. Except for one thing: you will be asked to do the same with your friends and make money on their gullibility. You will receive part of the money from the entry, the rest of the money - chat admins.
What to do to avoid being caught by scammers?
1. Do not chase after a freebie. In the world of cryptocurrency, there are many lucrative offers. But if you are offered to purchase a coin without any cost, with a very big discount and even before the launch of the project - most likely it is a scam.
2. To study in detail the data on projects and their developers. If you see the developer's name for the first time and did not find any of his projects, do not have to deal with this project.
3. It is necessary to check whether support services exist for project participants. Many fraudulent schemes do not involve feedback. This is a bad sign.
4. Focus on proven names and names. These Telegram channels are listed on the official sites of the projects, the nicknames of the administrators can be found there. Please note - many scammers change letters in the name or indicate bio instead of a nickname. Be sure to check it out.
Be careful! Take care of your finances and do not pursue super-profit, because the miser pays twice.