, 2 years ago
While LiteBit is a secure and reliable service that acts in full compliance with the law and according to a regulatory framework, there are malicious actors active in the market trying to scam unaware victims.
With this article we like to spread awareness for best practices that will prevent that you’ll become an easy prey.
One very common approach of scammers is to simply ask their victims to perform certain tasks. In the course of action, the victim will lose money. Here are the things we will never ask from you:
If you receive any type of e-mail that asks you to perform one or more tasks on this list, it is a scammer. Please contact our Customer Support using our website and report the e-mail in question. Do not answer to the malicious e-mail. Contacting the perpetrator won’t do any good.
Please note that itis still possible to call our Customer Support under this number: +31 (0) 10310 41 75. There is no other phone number available!
While the approach exemplified above is direct and straight forward, there are also a couple of things that you should keep in mind while engaging with crypto and its related communities:
The first advice is important while checking offers. If a business offers you 2000% returns in a couple of days it is almost certainly a scam or a high-risk product. Stay away!
Always check to whom you are sending crypto. Many scammers will try to impersonate businesses or even individuals.
While there are community driven airdrops, there is no such thing as free money. You might make a few Dollars with airdrops, but why should anybody send you thousands of dollars’ worth of Bitcoin? Most of the times you’ll be asked to send something in advance. It’s a scam.
Typos are common mistakes. Scammers know that and will use a method called typo squatting. Meaning that they host websites that resemble common typos in order to lure the victim on a fake platform. You can easily prevent this by bookmarking important websites in your browser or checking the SSL certificates each time you’ll visit a crypto related website.
These steps and recommendations are a good start to prevent harm. If you like to boost your security you should also check our articles about 2FA, password managers and general account security.
Those measures are easy, for free and we guide you through it.
Dec 09, 2022
Unlike in traditional finance, in crypto you can truly own your money. Because whoever controls the cryptographic keys, controls the funds. That's a fundamental property and THE major benefit of crypto. If you don't have your keys, you don't really own your coins. If you deposit your coins on an exchange, you risk them going bankrupt. Instead, if you own the keys, then you are the custodian: we call that self-custody. How can you learn to take self-custody?
May 16, 2022
If you are considering investing in Bitcoin, you undoubtedly have questions about the soundness of the system. And rightly so. You will soon learn that the security and risks depend not only on the technology but also on the user: you. Together, you and Bitcoin are the bank. If Bitcoin is the vault, you are the one who keeps the keys. How secure are you, as a team?
Aug 24, 2021
Bitcoin is absolutely secure. That is a sentence that is perfectly true at the time of writing. But this is not only due to the fact that its technology has been proven in the past but also because of its network and its constant growth in the last couple of years. That being said, one should never take the transaction security of a network for granted. Bitcoin allows every user to check and verify literally everything in its network, including, but not limited to its monetary supply and if a transaction is valid or not.' But there is also the possibility of fraud, meaning that an entity could try and overtake the Bitcoin network. In this article we will discuss how this is theoretically possible and how likely this is to succeed.
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