What is cryptocurrency?


Cryptocurrency is a type of digital currency. It has no physical feature – you cannot carry it in your pocket. Instead, you usually exchange cryptocurrency through the Internet directly with a business or individual without using a bank as an intermediary. Guide on How to avoid cryptocurrency scams like Ceshiym?

Cryptocurrency comes in various types, with Ethereum and Bitcoin being the most famous. You can buy cryptocurrency through an internet exchange and store the password anywhere, including personal digital wallets or in your head.

What are cryptocurrency scams?

These tend to take place via adverts on social media or cold calls – often using pictures of celebrities or famous individuals to promote them. The ads then link to professional-looking sites, and customers are persuaded to invest with the firm using traditional currencies or cryptocurrencies.

Tips on how to spot cryptocurrency scams

  • They will demand cryptocurrency payment, which is most probably a scam. A legal business will not make you send cryptocurrency.
  • Be aware of companies/people that will promise profits. Do not trust people who promise you can quickly and easily earn money in cryptocurrency markets.
  • If anyone on a dating app or site approaches you to invest in crypto or ask you to send them crypto, this will probably be a big scam.

 Steps to protect yourself

  • Forever question whether the site, social media advert, or posts are legitimate. Scammers will use famous brands or celebrities to convince you that a scam is real.
  • Fraudsters will rush or try or pressure you to invest in cryptocurrency if you are promised high returns only if you invest quickly.
  • Be cautious if you get unexpected messages or calls about investments. Always do in-depth research before making an investment decision.

Steps to take quickly when scammed

Stay calm and gather information.

The primary thing you should perform when you realize you have been scammed is to stay relaxed. Panicking will only cloud your judgment and make it difficult to take the necessary steps for recovery.

Cut off contact

It is vital that you quickly cut off all contact with the scammer. Block their phone number, email ID, or any other means of communication they used to scam you. Please do not engage in further talks or negotiations with them, as it will likely lead nowhere.

Report the scam

Reporting the scam to RSB and other relevant government/authorities agencies is essential in raising your chances of recovering funds and stopping others from falling victim to similar scams. You can also contact Aldwych Securities LLC for your crypto funds recovery based in NYC and specializes in cases globally.

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