Hello People from all over the world, I hope everyone are safe and doing good in your fields of work.
Today, in this post, I will summarize all the Posts about Crypto Marketplace - Full of Pirates and Hackers. What it is and how to trade in it ? , that I had written down from past week.
Let's start : -
1- Introduction to Market and Crypto Market in my First Post :-
Link to the first post :- Crypto Marketplace - Full of Pirates and Hackers. What it is and how to trade in it ? (Part-1)
In that post, I had gone from local market to online marketplace, and then I slowly told you what is the comparison of local or online marketplace to Crypto Marketplace.
2- Introduction to scams of Web 2 and how they are entering Web 3 internet :-
Link to the second post :- Crypto Marketplace - Full of Pirates and Hackers. What it is and how to trade in it ? (Part-2)
In that post, I had explained about our transition from Web 2 Internet to Web 3 internet, there I had also told you about the scams that are happening in Web 2 internet, and can possibly are entering Web 3 internet, if we didn't take note of these scams. Financial Losses are the losses that are much more happening in Web 3 internet, as we discussed there. Then, I introduced first scam that is you shouldn't fall for any type of crypto giveaways (mainly from Twitter platform).
How to protect ?
Ans : - Check the address in the Block explorer.
3- Be extremely cautious about crypto payments or exchanges and check coin address :-
Link to the third post :- Crypto Marketplace - Full of Pirates and Hackers. What it is and how to trade in it ? (Part-3)
In that post, I had told you about different types of cryptocurrency addresses and their importance while sending or receiving cryptocurrency. Cryptocurrency ETH address begins with 0x and it is the 40 hexadecimal characters long address while BTC has different sets of rules in its address, etc, etc ... . You should also not receive or send your money to any third party, without knowing their work.
How to protect ?
Ans :- Have knowledge about crypto and cryptocurrency addresses.
4- Beware of Ponzi and Pyramid Scams :-
Link to the fourth post :- Crypto Marketplace - Full of Pirates and Hackers. What it is and how to trade in it ? (Part-4)
In that post, I had told you something about business side of scammers, that is by doing Ponzi and Pyramid Schemes, that is used to grow the business from bottom to top or top to bottom. I have written in detail about two types of pyramid that are Down-Up Approach and Up-Down Approach and their advantages and disadvantages, that follows in making business of anyone. While this type of scam can lead to very wonderful results, but still it is risky and loss is seen much more on both pyramids making approach. So, be careful of this type of Scam in Web 3 internet.
How to protect ?
Ans :- Take notice of someone doing it, and ask them what should be a result of their doing. If they don't give the answer, don't force them to give answer or don't bully them.
P.S :- This is my most viewed post. Thank you all, who had made this happen.
5- Inflation, the sudden rise or sudden fall :-
Link to the fifth post :- Crypto Marketplace - Full of Pirates and Hackers. What it is and how to trade in it ? (Part-5)
In that post, I had talked about Inflation, which is no matter is a major problem for a small business, that can be seen by rise and fall, again rise and fall, again and again of price of that particular commodity or a particular product with respect to market price. This thing happens every time and everywhere. A business will be saved from Inflation if that business follow Dollar Cost Averaging to that business. Inflation can cause various types of physiological burdens and make you work like 9 to 5 job to pay your taxes, huge debts of the bank.
How to protect ?
Ans :- Learn more about money, finance education and do learn how to do Dollar Cost Averaging.
6- Pump and Dump Schemes or scams :-
Link to the sixth post :- Crypto Marketplace - Full of Pirates and Hackers. What it is and how to trade in it ? (Part-6)
In that post, I had told you about the scam that is happening day to day in Web 2 and is entering Web 3 internet now. This is mot dangerous scam from above all scams. Scammers will act like you sending huge giveaways by creating fake twitter or any social media account of you and they tell people that you are giving giveaways of cryptocurrency. This is mixture of the first and second scam that I had told you.
How to protect ?
Ans :- Look out for fake accounts and report them. Link your main accounts with other main accounts by linking them by writing in bio of social media accounts of yours.
Thank you for reading. Check those Posts, if you haven't.
Look at this my post, on How to setup Meta Mask Web 3 Wallet, if you haven't created till now, I have explained here in detail :-
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