9 Simple Ways to Identify Fake Cryptocurrencies In 2024

People worldwide have become invested in cryptocurrencies, especially with Bitcoin. Aside from its highly-volatile market, there are some other risks that you may encounter when dealing with different kinds of investments, as well as different cryptos. Luckily for you, at www.iol.co.za you can learn even more about cryptos, as well as different ways on how to identify fakes! Here are some ways that may interest you as well.

9 Simple Ways to Identify Fake Cryptocurrencies

1. You are dealing with an imposter website

Source: resultsrepeat.com

There are deep fakes everywhere, believe it or not. A lot of sites have amazing graphics, and they have been made in such a way that they can mimic the real thing. However, how to identify that this is a scam?

1. Check the URL, and see if there is a small lock icon indicating security.
2. Usually, fake sites don’t have the ”https” either in their links.
3. Check out their payment options and see if they are common, as well as they used to be. Do not fall for some unusual and unknown ones.

In order to avoid any misfortunes, carefully type the exact URL into your browser before you purchase your new crypto, or before you get fully invested.

2. There are some fake mobile apps

Scammers can try to trick you with their apps that you can get through Google Play or Apple Store. Most experts will notice these new fakes and delete them from their sites right away. However, if sometimes these go through, try not to download them. Usually, Android users may fall for this scam a bit more, and Android phones are easier to hack. Make sure to check out the icon and see if it looks authentic, and does it have a proper logo that you’ve previously spotted?

3. You’re seeing bad tweets or other media updates

Loads of news, celebrities, as well as social media networks or apps, will give you often updates on any new impostor accounts. How many times have you found yourself in a blockchain email and you were able to tell that it was a scam, or even a virus? This is why you shouldn’t trust your friends on Facebook or people from Twitter, so rather get involved and educated through news, media, as well as legit resources such as from the Bitcoin official newsletter, site, or some Crypto magazines.

4. Loads of spam and scam email

Source: geeksadvice.com

Speaking of email, how does it look like, and can you tell that it is a fake? Make sure that you can tell that your received email is easy to connect with the actual company, as well as its apparent resource. It is important to delete these messages and move them to trash since improper information and some hackers may end up exploiting your basic information, and you shouldn’t trust anyone who is not a part of the real business industry. Spam and scam are the worst when it comes to the mining business.

5. Watch out for Cloud

Source: nojitter.com

Cloud scammers will ask you through some form of communication if you know anything about mining, and they will have you hooked if you end up answering no. They will lure you in by presenting you with great deals, as well as big investments in cloud mining. The moment you log-in and enter your details, they will have access to your passwords. Avoid these messages, and do not fall for Cloud scams or even similar emails. Never leave your log-in details or your passwords, and you’ll be good to go!

6. Do some analyzing

Do your behind-the-scenes analysis and invest some time in figuring out what is it that you’re dealing with. The best and quickest way to do this is by checking out their reviews on Google, their official site, as well as on your phone and through their app. The more proper, verified, as well as the positive feedback they have, the chances are they are legit. Give yourself an additional hour when doing this investigation, it is better to be safe than sorry.

7. Check out their site or reputation

Source: prestigeaudits.com

You can go on Google and read loads of different reviews on this brand, site, or Crypto. You should always double-check and see who stands behind their reputation. Make sure that you read sponsored content on Google since this is most-often legit and it has been through proper check-ups. If Google approves it, so can you! Read some articles, watch new YouTube videos, and also compare it to some other Cryptos before you make your purchase or your next big move.

8. Who is behind the app?

Use an application that is reviewed, backed-up by a Crypto pioneer or a Crypto expert, as well as created by an amazing crypto organization that you can fully trust. Go to a reliable source that can guarantee high-quality, successful purchases, as well as proper information on every crypto that you want to buy, or which you’ve previously encountered with. Yet again, do your research and double-check your facts. Make sure that everything is legit and that it stands out before you end up downloading or investing.

9. Who is their support team?

Source: caerphilly.org.uk

Last, but not least, can you trust the team? Some people can pretend to be a part of your support team (on the site) where they will ask for your personal information, deposits, as well as personal passwords. Getting in touch with their help or telecommunication may be easy, but this is how you can fall into this trap:
Hackers can use similar names, as well as the exact same images when responding to you through mail or messages.
Fraud will also ask you to send your BTC or ETH to solve the issue.
Once you do that they will take the money and you won’t hear from them again.

So, what to do in the end? Make sure that you only go for some highly-rated and talked-about Cryptos, such as Binance, Kraken, Bibox, Coinbase, and similar kinds.

Stefan Djuric
Stefan Djuric

My name is Stefan Djuric and I come from the town of Indjija. I love my job because it gives me the opportunity to learn something new every day, and I am fulfilled by its dynamic nature. In addition to my SEO career, I studied history at the University of Novi Sad. I also play drums in the pop/rock/funk band Dzajv, as well as in the thrash metal band Alitor, with which I have released two studio albums.