Security is a major worry for novice cryptocurrency investors as well as experienced ones.
That makes sense, considering how skilled cybercriminals are getting every day. This is Binance’s instruction on how to stay safe from cryptocurrency app frauds.
Binance, as the biggest cryptocurrency exchange globally in terms of trading volume, is cognizant of its responsibility to its user base. Although strict precautions are taken to safeguard them and their investments from fraud, Nadeem Anjarwalla, Director of Binance in East and West Africa, notes that numerous applications are made to seem just like genuine programmes, like Binance.
According to Anjarwalla, it can be challenging to distinguish these programmes as, to the uninformed eye, they appear to be identical to genuine apps. Everything about it, from the interface and functioning to the services themselves and their description, has been meticulously crafted to the point where it may be mistaken for the real deal. Undoubtedly, fraudsters take considerable measures to guarantee that this is the case. Some even repackage the official application’s source code to guarantee a replication that appears genuine.
So how can one distinguish between the two? The release of these apps is among the initial gifts. For example, there are only three places an investor can get the Binance app: the Apple App Store, the Binance website (www.binance.com), or
On the other hand, fraudulent applications are distributed through unofficial or phoney app stores, as well as by social engineering through emails or text messages.