Ready to say ‘NO’ to crypto scams? Read our latest review! The world of cryptocurrencies is known for the fact that here you can lose all your money without even having time to start trading. Following simple LATOKEN tips and rules from LATOKEN reviews will help avoid such risks and avoid becoming a victim of crypto scams.
The crypto market is well known for being incredibly easy to lose all your money. There are so many possible errors and traps that it can be challenging to figure them out on your own. LATOKEN cares about its users and crypto enthusiasts around the world and created a review related to both trading and keeping funds on the exchange and other aspects of working with digital assets that can help you save your funds.
Trading Without Crypto Scams. LATOKEN Review and Tips:
- Do not use leverage and do not trade with credit money. This is one of the main mistakes novice users make. Instead, many newbies decide to take out a bank loan to buy digital assets.
- Don’t forget about risk control. Calculating the risk per trade is imperative — do not gamble a large amount for a small profit. The main rule of any trader is minimum loss — maximum profit.
- Don’t count on trading as your only source of income. Trading cryptocurrencies is not an easy job substitute, especially for novice traders. Therefore, you should not immediately quit your current job, even if you have already achieved some success.
It is essential to have multiple sources of income. Keep in mind that trading and the derivatives market are complex, risky, and competitive. It is too frivolous to hope that it will immediately become the only source of income. It is difficult and constant work on yourself.
Risks Review of Becoming a Victim of Cryptocurrency Scams
You should never give your username and password to anyone who appears to be a support service or a crypto exchange employee. Otherwise, you may lose all funds. It is also worth installing two-factor authentication (2FA) on all exchange accounts. It is the best way to keep your cryptocurrency safe.
Hackers and crypto scammers may try to contact you as technical support representatives and try to get information about your account in every possible way. Remember that real crypto exchange officials never ask for any passwords, 2FAs, or any other data associated with your account. Keep in mind that it is essential to use only real crypto exchanges or deal with a real crypto project. For example, LATOKEN is an international crypto-exchange and IEO platform with over 1.3 million users worldwide. That’s why you can just forget about the LATOKEN scam!
Do not use public WiFi networks on devices that are connected to the exchange. Social networks are dangerous because their hosts can set their own rules that you won’t be aware of. For example, they can redirect your browser to a phishing version of a crypto exchange or wallet or collect data, including your passwords.
Stay alert when visiting websites. You should always review the URL of the exchange or other service, preferably twice or thrice. Otherwise, you can become a victim of phishing (a different type of cryptocurrency scam) when hackers create fake web pages that are identical to the real ones. Users go to these websites, enter their data, and crypto scammers instantly gain access to your cryptocurrency accounts.
Other LATOKEN Tips on How Not to Become a Victim of Crypto Scams
- Always check if the link displayed in the browser matches the real address of the crypto exchange or web wallet;
- Don’t go to websites that have HTTP instead of HTTPS in the address bar;
- It is important to pay attention to the address and check it for spelling errors when receiving an email.
LATOKEN Review. Safe Storage and Crypto Purchase
- You shouldn’t transfer funds to small, unpopular crypto exchanges with low trading volume. If necessary, it is safer to start with a small amount to check if the platform has withdrawal options. Crypto scammers can disable this feature in order to scoop the pool, attracting traders, for example, with inflated rates.
As a reminder, it’s always better to deal with crypto exchanges that you can trust. You can forget about the LATOKEN scam if you keep your cryptocurrency on LATOKEN and read LATOKEN Review. LATOKEN leading crypto exchange that makes trading and payments easy and safe worldwide.
Since 2020, the DeFi sphere has become very popular. In particular, it became popular thanks to “yield farming,” a shorthand for strategies where putting crypto temporarily at the disposal of some startup’s application earns its owner more cryptocurrency.
“Yield farming” is in great demand due to very high rates. However, there are also high risks here. For example, in early October last year, a crypto user lost $140,000 in cryptocurrency after connecting to a DeFi service, giving permission to withdraw funds at any time and without notification.
You will find more relevant and useful information about DeFi scams in our LATOKEN review article:
- Don’t use dubious platforms. Any unknown crypto project can turn out to be a cryptocurrency scam, and not all potential vulnerabilities are clear today. To interact with an unreliable smart contract, it is better to create a separate wallet and transfer as many funds to it as you do not mind losing.
- Do not neglect the execution of contracts. Operations with a large amount of crypto are safer to back up with a document. It might give “ghostly hope” that the conditions will be met in case the other party refuses to comply with them.
- Read LATOKEN Review. LATOKEN, a rapidly growing crypto exchange and the leading platform for compliant multi-asset tokenization, is always here for its users, traders, and crypto enthusiasts worldwide. We do our best to prevent you from becoming a victim of crypto scams, which are very common these days. That is why we are constantly preparing LATOKEN reviews, where we talk about various tokens, protocols, and crypto projects. Being informed is already a part of success, and LATOKEN helps you with this. So be sure to read our LATOKEN reviews before deciding to buy a particular token. That is how you can just forget about any cryptocurrency scam!
Also, in no case should you forget that, like many other assets, cryptocurrencies are subject to high market risk. And here are some more last but not least LATOKEN Review tips for those who deal with cryptocurrency:
- In no case should you start trading with a significant amount of money;
- Don’t stay in declining assets; you need to be able to admit your loss;
- Finally, do your best not to attach much value to money once you decide to become a crypto trader.
There you will find even more information and LATOKEN tips on how to avoid becoming a victim of cryptocurrency scams:
- How to Avoid Crypto Scams: Essential Tips from LATOKEN
- What is Phishing, and How Scammers Use it in crypto?
- Shitcoins as Another Type of Crypto Scam. What Are They and How to Avoid Buying Them?
- How to Quickly Identify a Crypto Scam. Tips From LATOKEN
LATOKEN is an international cryptocurrency exchange and IEO platform with over 1.3 million users across the world.
LATOKEN, a leading crypto exchange, makes trading and payments easy and safe worldwide. LATOKEN brings trading and banking to blockchain technology to automate transaction processing and save billions of work hours per year. A single year after its initial launch, LATOKEN got over 850k downloads on Google Play and over 1 500 000 followers on socials. Entrepreneurs looking for funding can consider the LATOKEN IEO Launchpad. There are 240+ digital assets available for traders with the option to connect using RESTful or WebSocket APIs on the LATOKEN platform. In addition, LATOKEN is planning to launch its own NFT Marketplace.
LATOKEN does not provide investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like many other assets, cryptocurrencies are subject to high market risk. Please trade with caution.