If you have been in the crypto industry for a long time now, you must surely be aware of the scams. The cryptocurrency world is evolving each day and the risk of transactions is increasing too. Cryptocurrency market is one of the most volatile markets. 

Scams have almost become a part of our daily lives. Almost in every industry, there is a kind of scam. Most startups are preferring to invest in cryptocurrencies, but bitcoin has become one of the most popular ones. However, if you're considering investing in some kind of cryptocurrency, you need to be extra careful. 

Several startups may promise you best returns, but sometimes it may not be worth it. You need to have a strong marketing plan to get the best. Moreover, if you're considering investing in cryptocurrencies, you need to know every detail about the company. Investigating everything about the startup will eventually lead to profits and protect you against scams. 

What are the most common types of scam? 

Elon Musk impersonators are the biggest example of cryptocurrency scams. They were able to execute an embezzlement of around $2 million. It all started with a phony giveaway. While celebrities promoting cryptocurrencies are great, these have their fair share of cons too. 

In one of the cryptocurrency scams, a British woman lost around £9000 in the cryptocurrency investment. As a result, it is advisable to be extra careful with the cryptocurrency investment sector. Some of the most common types of scams that one can fall a prey to include the following:

• DeFi put off stroke

Decentralized finance has become an important part of today's world. It helps to transform the trading methods. The users can get a stake in certain cryptocurrencies and eventually secure all the interest on their profit. 

Several DeFi platforms have been promising maximum returns. However, if the platform promises extensively higher returns, you need to be extra careful. This is mostly because it is an indication of a scam. While this platforms offer extensive benefits, too much of it can lead to losing a significant amount. 

• Pump and Dump of Altcoin

Altcoins have become extensively popular in today's time. It is necessary to manage the market caps extensively. While the pumps and dumps define movement, you need to be extra careful. 

Altcoins however help to manage the flow. Extensive volatility of altcoins gives way to criminals and scammers. As a result, if you're investing in altcoins, you need to be extra careful with the volatility. 

• Non-fungible tokens

Non-fungible tokens are the most important aspects in today's time. With the growing popularity of cryptocurrencies, the popularity of NFTs are increasing too. 

While non-fungible tokens are usually one of their kinds, they have a chance of being duplicated. Every NFT has a hashtag code. And the one who has a specific hashtag code will have all the power. 

Hacking NFTs can be tough, but the ones who have the code are able to do it easily. Deciphering the hashtag code of every NFT is not an easy task. 

• Malware and virus scam

Every investor must store their cryptocurrencies in a specific wallet- hot or cold. However, with the evolution of technology, the security aspects are increasing too. Nonetheless, the risk of security breaches are increasing too. 

Hackers and criminals are adopting old methods of hacking the wallets through viruses and malware. With the help of these, they will try to gain access to your crypto wallets. As a result, it is advisable to secure your crypto wallets using two-factor authentication. Every scammer will try breaking into your system through these malware and viruses. Therefore, two-factor authentication will help to enhance security. 

• Fake ICOs

Fake Initial Coin Offerings is a major problem for many crypto investors. Over the years, ICOs have been trying to increase security. However, the rate of fake ICO is increasing too. 

Fake ICOs happen to be one of the major concerns for investors. Big Coin is a big name in the fake ICO industry. They were able to con around $6 million from the customers. 

• Fake mobile apps

One of the most common ways scammers will trick cryptocurrency investors is through fake apps. They can download the system through Apple App Store or Google Play. However, if there are any fake apps, Google Play will immediately recognize and remove it. 

There are several such fake mobile apps available online promising higher returns but not sustaining it. If you're an Android user, the risk of investment increases. One of the biggest ways to identify scammers is to check for incorrect logos and strange colors of the app. You must consider downloading another legit scam. 

• Fake websites

While there are imposters of celebrities trying to con people, there are several imposter websites too. You may be following a tip from someone from the fake website. According to expert investors, in recent times, the number of fake websites has gone up. 

There are several websites that may appear the same as the other one. It is necessary to address these issues. If a particular website does not have HTTPS in the beginning you should avoid visiting it. Most sites will look identical but will have a different payment method. Before you start investing in any platform, it is advisable to check the URL. Even when you consider that you've checked it, you should consider double checking it. 

1. Scam emails

Several platforms will appear to be legitimate, but they usually aren't. When you receive an email from a specific platform for investment, you should read it thoroughly. It is good to verify the email before clicking on any link. 

Most of these emails have phishing links that can eventually be a problem. These scammers usually send a link to you announcing fake ICOs. You should avoid falling for any such scams. Therefore, it is advisable to do proper research about these platforms. 

Several investors are being exploited online by these scammers. With the improvement in security, the chances of fake ICOs and other scams is increasing too. It is advisable to be extra careful with these methods and research before investing in any platform.