The Internet is the most widely used communication network ever built. It is used by millions of people and machines every second every day. Good and bad things happen on the internet, and among the bad things are attempting to deceive innocent people out of their money or identities.
Cryptocurrency is a type of digital currency that generally only exists electronically. There is no physical coin or bill unless you use as service that allows you to cash in cryptocurrency for a physical token. You usually exchange cryptocurrency with someone online, with your phone or computer, without using an intermediary like a bank. Bitcoin and Ether are well-known cryptocurrencies, but there are many different cryptocurrency brands, and new ones are continuously being created.
But are you Confused about Digital currency ? You’re not alone. Before you use or invest in cryptocurrency, know what makes it different from cash and other payment methods, and how to spot cryptocurrency scams or detect cryptocurrency accounts that may be compromised.
Here are some warnings from Waqar Zaka, He is hired as a crypto expert by the Government of Pakistan.
Warning over Bitcoin spam texts that could steal your personal details.
The text messages claims, you have some of the cryptocurrency waiting in your account which you can access by following a link, or they ask you to pay in cryptocurrency while sharing a link. Never click on it, it can probably hack your account.
Bitcoin MLM Ponzi Schemes
These are hard to identify because they often appear to be legitimate for a set period of time before they pack up and are revealed to be scams. They tend to benefit the first few people who join them, who then invite their friends and later vanish with all the money. They are common because they make a lot of money within a short period of time. Ponzi schemes are scams in and of themselves and are fraudulent systems that require you to invest in them with a promise to make huge profits in return.
This type of scam are based on impressing potential victims with claims of specialized knowledge. They will claim to help you invest and increase your capital. Nevery trust your investment with someone else, It’s you who decide where to invest. Nevery share your Log in details with any such self-acclaimed traders.
In an environment like the current cryptocurrency market, potential investors should be very careful to research what they’re putting their money into and be sure to find out who is involved as well as what the actual plan is for making real money.
For his Urdu Video: