The prosperity being garnered by cryptocurrencies, especially Bitcoin, is getting the interest of investors, businesses, and fintech geniuses across the globe tickled. While this digital financial innovation is becoming the new norm in the capital market, there are some disgruntled groups of people laying siege to scam the vulnerable in the crypto marketplaces through different means of fraud.
Often than not, the breakthrough in the cryptocurrency adoption rate is what entices scammers whose malicious traps are often directed towards Bitcoin traders and investors. So, it is important to stay woke.
As safe trading is what Paxful holds with utmost priority, the following are the ways to avoid scammers on Paxful:
1. Stay Alert For Suspicious Links
In most cases, hackers use malicious links to access your mobile device or computer without your knowledge. A click on this deceptive link can redirect you to another website where scammers would be able to access and steal your personal information. In cryptocurrency, this often includes your account password which can easily be used to get the key to your digital wallet.
These links can either be shared with you through QR codes or images in emails, text messages, trade chats, or social media platforms. Here, some fake accounts can pretend to be a representative from Paxful with Paxful’s official logo to convince and earn the trust of the victim.
2. Check And Confirm The Website’s Domain Address
To ensure you are accessing a secure link, check and confirm the domain address you are visiting. Make sure you are on the real Paxful website.
However, If you are logging in to your Paxful account, ensure you are on the right domain address before providing your account details. As this compromise appears impossible to achieve, scammers can duplicate the original website which looks exactly like the real website.
3. Don’t Interact With Users Imposing As Paxful Customer Support
As we are living in a digital world today, cyber fraudsters are always with an eagle eye to look for a loophole in accessing your account, including emails. In the event of you receiving an email with the subject line of an immediate call to action on your account or other personal information, do not be in a haste to open the message.
In another scenario, the scam might come as emails with suspicious subjects and unknown attachments from unfamiliar senders, posing a likelihood for be phishing attacks.
It is important to note that every email coming from Paxful always ends with @paxful.com. So if you receive an email claiming to be from Paxful, carefully check the sender’s email address. If this doesn’t match, be awake to the fact that you are about to be scammed.
4. Be Alert Against Profiles Decoying To Be Paxful Moderators During A Trade
When someone is claiming to be a Paxful moderator, it might be suggestive of the person that you open unknown links entering unfamiliar codes to “resolve” particular trade issues and get the target’s attention.
This is considered the most tricky way to be scammed, and some traders still fall into this trap. However, the following indicators would enable you to know if you are chatting with a real Paxful moderator or not.
- Paxful logo with purple color: moderators on the real Paxful platform only use an official Paxful logo as the display picture.
- Paxful Moderator: below the message, “Paxful Moderator” will be seen beside the purple Paxful logo, close to the message timestamp.
- Speech bubble: purple speech bubbles are used by Paxful moderators when sending in-trading messages.
5. Improve Your Account Security Level By Enabling 2FA
Consider enabling the two-factor authentication (2FA) on your Paxful account, if you have not done that. This enhances the security structure of your account by requiring a code before your account can be logged into, and transactions performed. Hence, enabling 2FA gives you the required and deserved security such that only you can access your cryptocurrency.
Paxful will never request your full credit card number or financial details, an account password, and a 2FA code. Meanwhile, when working on a dispute, always review your dispute evidence before submitting it. Also ensure that details about your password, bank account number, 2FA code, email address, and other financial details are not divulged.