As the public’s interest in cryptocurrency increased, many cryptocurrency scams came out.

In 2020 and 2021, the total number of crypto held by investors has increased more than 20%, but investors’ fear of becoming obsolete in this new hot sector has attracted many small or large scammers.

In this article, we will explain and will show you:

• How to find common cryptocurrency scams?
• Few key strategies to avoid fraud and keep safe your crypto
• The best safe and secure wallet to hold a hard-earned wealth

Is cryptocurrency safe?

First, that strikes in mind while stepping towards top crypto investment scam for the first time. Even most of the seasoned investors are still worried about it. Is cryptocurrency safe? And ask the experts how we can know the best cryptocurrency to invest in making our fund secure.

Many thieves look to snatch hard-earned money like other traditional investments by seeing investors’ eagerness to earn money early and lack expertise. 

Yes, best cryptocurrency as digital currency and it is much more secure with mathematical algorithms. All transaction history is stored in blocks, and all blocks are interconnected and cannot be deleted.

But we are not here to explore the key features of the cryptocurrency; We are here to detect scams involving cryptocurrency trading.

Spot any cryptocurrency scam:

In this article, you will see the main types of cryptocurrency scams, but by following ways, one can protect yourself from being scammed

• Be curious
• Do not take any information at nominal value
• Do your research before investing in cryptocurrency or taking any best financial cryptocurrency transaction decision.

Coinbase Scam:

Coinbase is one of the well-known brands in best cryptocurrency, and it opened in April 2021 for the public in America.

Scammers used SMS and Email campaign to bring investors into their trape. Scammers use such scams to target victims and force them to click on the dodgy link; as the victim clicks on the click, they have stolen hard-earned money, including personal information. 

Such a type of scam is in a low-tech scam very popular and effective.

Technical support service scams:

In a technical support scam, the scammer’s goal is to get the passphrase to unlock the cryptocurrency digital wallet. They unlocked it and transferred the wallet token to another wallet.

Still, the most secured wallet is a matter of debate. MetaMask is a very popular wallet with approximately five million monthly active users.

Other popular offline wallets are Trezor Model One and Ledger Nano. 

Warning: Never share your wallet passphrase with others, it may be a scam, and you could lose your hard-earned money.

Free Giveaway Scam:

We always run behind free due to human nature, and we all love getting something for nothing to pay, which makes free giveaways the most popular and successful scam in cryptocurrency.

In a free giveaway, victims are told that they will double their crypto if they send it to any celebrity. Sometimes, the victim is told to perform listed activities to get free tokens, and victims click on links unknowingly.

Twitter and telegram channels are very popular among scammers, and they use them to reach the victim with interesting offers. They promise to give free airdrops, but they look to steal personal and other confidential information.

But the point to note is that not all free giveaways are scams, some genuine ones bring free giveaways to increase their audience reach, and in this order, the DCXa token is a genuine crypto token.  

So, if you are looking for the best cryptocurrency to invest in 2022, DCXa could be the best one.

Employment Scam:

Employment scam is also very popular at present. Scammers trap students and jobseekers in such a scam and offer renowned currency to carry out their tasks. They told them that they would be the owner of the money they would earn.

Scammers pose themselves as recruiters at various social media channels and other employment portal to steal personal information.

Advice: First, research the employment agency online and only take steps to avoid any scams.

Phishing:

In a phishing scam, scammers send fake emails and text messages to the victim from an unknown number to get them into their trap.

Ponzi/Pyramid Scheme Scam:

In this Ponzi/ Pyramid scheme, people are assured that you will get double your investment soon. In this scheme, money collected from new investors is used to pay earlier investors instead of investing in assets to generate good returns.

So beware of such Ponzi schemes, it could be a scam, and you may lose your hard-earned money finally.

OK, which is the most secured cryptocurrency?

First of all, see how long is the life of the cryptocurrency you are going to invest in? How big is their community? What kind of queries are people posting on community channels?

Some well-known cryptocurrencies have performed consistently well over the past five years and meet all the standards of cryptocurrencies, such as Bitcoin, ether, and Litecoin.

But it isn’t always investing well with the new cryptocurrency, isn’t it?

No, it is not so; before investing in a new cryptocurrency, you should see its growth rate, vision, and mission. Most importantly, that cryptocurrency is limited to token distribution only or continuously making tokens globally acceptable.

If a cryptocurrency meets these standards, investing in a new cryptocurrency can also be fruitful.

In this sequence, DCXa meets all the standards and can provide a better future to investors. One can choose DCXa as the best cryptocurrency to invest in securing the future.

Are there other best cryptocurrencies to invest in?

There are some other best penny cryptocurrencies to invest in 2021, which are:

• Tether
• USD Coin
• XRP
• Dogecoin
• Shiba Inu

We hope you enjoyed this article and can protect yourself from cryptocurrency scams.

A central bank digital currency (CBDC) is a virtual organization of a fiat money for a specific nation or locale. It is an electronic record or advanced badge of true cash and is given and constrained by its financial position, while digital money is a store of significant worth got by encryption.

Cryptographic money is the scrambled type of best cryptocurrency to invest computerized cash, which is still profoundly unpredictable in the worldwide venture market. The cryptographic money has various names with particular organizations who dispatched it on the lookout—Bitcoin, Ethereum, Dogecoin, and some more. It is made with the assistance of cutting edge blockchain innovation to keep up with smooth exchange stream.

The main difference b/w Digital currency vs Cryptocurrency 

1. Encryption -This is the primary major difference between a digital currency and cryptocurrency in the digital wallet. The digital currency is not completely encrypted while the cryptocurrency is highly encrypted. In digital currency, one needs to open an account without any security – at any time your bank account can get hacked and you may lose all the existing cash.
2. Transparency – There is a tad of transparency in the data while managing advanced money. The recipient or sender of advanced money but , best crypto investment in 2022 will just get the data identified with the exchange cycle—sum, bank, time, and date. However, straightforwardness is the main component of cryptographic money. Blockchain innovation gives the whole stream of discussion between the two gatherings in regards to all exchanges—past and current.
3. Current Rate – The current pace of computerized cash is practically consistent and simple to manage in the worldwide market. There is no requirement of crypto market 2022 for broad examination prior to managing any sort of exchange. Yet, on account of cryptographic money, the market is profoundly unpredictable.
4. Authority – The advanced money has the concentrated position where the Reserve Banks control the whole financial arrangement of the individual nations. Banks have the position to intently screen the exchange stream for everybody whether it is intended for an advanced wallet or an actual wallet. On account of cryptographic money, it is a decentralized framework where there is no presence of an outsider to have authority over the financial backers.

5 Tips to Safely Invest in Cryptocurrency

In fundamental terms, cryptocurrency is advanced cash that isn’t directed or constrained by any administration or other financial position. Digital currency depends on secret codes to check exchanges. While Bitcoin has entered the standard, there are in reality in excess of 700 sorts of digital money. You can save it, or use it to buy services and products by trading your secret codes.

Choose what kind of digital currency you need. There is a wide range of crypto forms of money out there. Which digital currency is ideal for you depends generally on how you need to manage it? Fresher digital currencies might be more unpredictable, and possibly will not be generally acknowledged as instalment for products and services

Cryptocurrencies have emerged as an asset a resource class that furnishes you with an opportunity to contribute and procure generous returns. The resource class has gathered gigantic notoriety as of late. To begin exchanging, you should set up a record and you can contribute just Rs100 in the first place. Cryptocurrencies have evolved as an asset class that provides you with a chance to invest and earn large returns. Despite the lack of government backing, this asset class has earned large popularity in recent years. The possibility of large returns over a short period has impelled investors to jump onto the crypto bandwagon. Here are steps that will equip you to buy in these digital currencies.

Step 1: Select Right Crypto Exchange 

with the help of the crypto exchanges’ platforms, you can easily purchase and trade your digital currency. lots of popular cryptocurrency exchanges in the country.

Step 2: Open a Trading Account 

You have to open a selling account at the Crypto exchange of your choice. This account will be related to that in a bank. While registering, the exchange will check your credentials based on the services you opt for, the amount you plan to spend, and the available coin selling options. Prominently, Crypto exchanges function round the clock during the year, unlike regular stock exchanges.

Step 3: Fund Your Account

After opening an account, you have to convey some money into the crypto-trading account to purchase cryptocurrencies. You may transfer the reserves online from your bank account to the crypto-trading account. It, however, needs connecting both accounts. Moreover, depending on the policy, you may have a waiting period before buying digital coins.

Step 4: Buying and Investing in Cryptocurrency

Following an account and money transfer, you necessitate selecting the coins you plan to invest in. By far, some of the popular ones are Bitcoin and DCXa.

 Step 5: Store your Cryptocurrency 

Storage is the most important part after you make your investing. Crypto exchanges do not have any formal institution backing them, and they most certainly do not carry your ordinary insurance policy. They also face the ambivalence of being hacked. Therefore, you need to store your codes in your account and your assets securely. It is usually desirable to store your purchased coins in a crypto wallet.