users to enter their account credentials, thereby giving fraudsters a way to perform transactions on behalf of users and even lock victims out of their own accounts. If the address starts with http instead of https, the data you send to the website is not secure. It may seem as though its the wild west for investors, but it doesn't have. Fake exchanges and wallets, in a similar vein to phishing scams, keep an eye out for fake bitcoin exchanges.
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These scams are becoming more common, but they can easily be avoided by only accepting wallets from trusted sources. Is there anything else about the website that raises red flags or just seems too good to be true? Due to the unique way new coins are mined, it takes massive amounts of processing power and electricity, and thus money, to mine a coin. However, urban forex money spot in 2017 it was the target of a sophisticated scam that saw at least three fraudulent Poloniex trading apps listed on the Google Play store. However, many companies now offer regular users the ability to rent some server space to mine coins for a set rate. Fake ICOs, one of the best results of the cryptocurrency boom has been the rise of the initial coin offering as a way for companies to raise capital. Does the website connect securely over https (not http)? Does the websites URL have any noticeable spelling mistakes or errors?
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