Being knowledgeable on cryptocurrency and the way to navigate the world of crypto scams are the content of today’s episode. Tips and information were provided by Halle on self-custody, cold wallets, and how to be vigilant against scams is considered to be so crucial for anyone wanting to invest in crypto. Halle shows how passionate she is in providing this inspirational podcast for empowering women to take control of their finances. Her podcast is a must-listen for anyone having interest in crypto. So grab your headphones and tune in to Goddess of Crypto to learn how to surf the financial tsunami and become a savvy investor.
Show Notes:
In this episode of the Goddess of Crypto podcast, host Halle Eavelyn tackles the different types of crypto scams and ways on how to familiarize themselves with these and eventually avoid them. She points out the two main types of scams such as rug pulls and social scams, and examples of recent scams are also provided. Halle stresses the essential of self-custody and cold wallets in making sure your crypto is safe. She also admits of being a victim of scam through her own experience and warns listeners to be cautious of strange text messages and be aware of social media scams. Encouragement was given by Halle to the listeners that it is a must to be educated to avoid being ripped off. Empowering women should know how to take control of their finances.
Key points discussed:
The two main types of Crypto Scams such as rug pulls and social scams and explanations on how these work.
Example of a Rug Pull Scam which involves a cryptocurrency called Squid Game and the event that the exchange ripped off investors and disappeared with their money.
Explanation of Ponzi Schemes, using Bernie Madoff as an example, and how they work to get the money from new investors and in turn, pay the old investors.
Discussion of Social Scams, which include text messages and fake social media profiles, and how these scammers try to establish relationships to steal from victims.
Bitcoin Giveaway Scams wherein scammers use fake bitcoin giveaways to steal from victims, and to realize how important it is to be cautious at all times and not trust anyone who promises a double bitcoin.
Tips for Identifying Scammers such as being aware of the signs of fake profiles and poor grammar usage, and advice was given to the listeners like being on the lookout and immediately reporting any suspicious activity.
Importance of keeping your crypto safe through self-custody and cold wallets.
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