How to avoid fake cryptocurrency
The world of cryptocurrency sometimes presents insidious sides. Tips to stay away from “malicious” applications.
I just said the word encryption With a friend and your first Google search contains an ad or two for cryptocurrency apps. This is the reality for those who use smartphones and tablets. Ads of this kind often clog phones. We can cautiously defend ourselves from this aggressiveness, but if you’re instead interested in understanding which apps to use, here’s a guide to avoid surprises.
Apps can offer cryptocurrency in Spot, Derivative or CFD formats
Patches are the only ones you can keep in the wallet. Derivatives and Contracts for Difference (Contracts for Difference) are offered by brokers as an alternative. So when you hold a non-Spot contract, there is only one corresponding “value” for the cryptocurrency to buy in your wallet. This does not mean that derivatives or CFDs are scams. They are alternatives that you cannot transfer to a crypto wallet.
“Custody” and “Non-Custody” Wallets
Have you opened a portfolio in the stock exchange? It is a custodial wallet, a sub-account of the exchange wallet that holds the cryptocurrency, and they also have the keys to access the wallet. On the other hand, if you open a non-custodial wallet, you have your own access key, this is a wallet that no one can touch. A custodial wallet is easier to use, but it does not guarantee that your assets will not be compromised, a non-custodial wallet is 100% private, but you are responsible for the access keys.
Be wary of those who offer you the software
When the vendor of an app tries to get your access keys for any excuse, or asks you to install “service” software on your computer or phone, never accept it.
The systems used by “the felines”
The way to install “harmful” apps on your smartphone is to have Apple or Google approve an “experimental” app, which is not officially released on the Apple Store or Google Play. The smart resource will tell you that to install it you must download it outside the stores, in a special link. If you are not sure about the supplier, never agree to install these apps.
check well
Watch out for apps, especially over Telegram, where you send bitcoins or other currencies to your virtual account and they give you a nice daily payout. Not all apps of this type are dangerous, but you need to check very carefully.
Ethically, don’t be lured by amazing offers, use only approved apps, check where you keep your wallet, if you are not an expert, use the best known and trusted apps, then you can evaluate alternative solutions, always keep a watchful eye.
From our experts: Marco Montana CEO of CFX Quantum.
