Scammers use cryptocurrencies, like bitcoin or ether, because they are not easily recovered. Crypto can be sent overseas quickly with limited oversight.

Crypto is a very high-risk and volatile investment. The value can go up or down quickly and there are no guaranteed returns.

If you lose your money to a crypto scam, your money is likely gone. If you buy crypto, only invest what you can afford to lose. 

How to spot a crypto scam
If you're investing in crypto, watch out for these potential red flags.

Unexpected contact
Someone you don't know contacts you with investment advice or offers: through phone, email, social media or text message claiming to be an investment manager or broker through an online forum discussing crypto Recommendations from someone familiar You may hear about it through: an advertisement or fake celebrity endorsement on social media an online influencer promoting a token and claiming to have made huge, quick profits family and friends who have unknowingly been scammed themselves an online romantic partner or acquaintance who asks for money paid in crypto or suggests an investment opportunity Pressure to take action You are being pushed to:

transfer crypto off your current exchange and invest through their site use crypto to pay an individual or for a financial service download an investment app not listed on Google Play Store or Apple Store deposit money to invest into different bank accounts pay tax or invest more in order to access your funds.

Paynoom is not making / ordering advertisements on Facebook and we are not not calling our customers by phone or by any other messenger, such as Whatsapp, Telegram, WeChat or any similar.

Paynoom does not offer any kind of investment, trading, forex or similar activities, exclusively exchange services (fiat to cryptocurrency/ cryptocurrency to fiat) for the customers.

Paynoom does not have any consultants / advisors on the platform and we are not providing any guides to make profits on the cryptocurrencywe Paynoom company is not connected with a company named "Lufida" or with https://lufida.com/ website.

Customer is fully responsible for the storage services what he use for the cryptocurrency storage after once cryptocurrency is being sent to his wallet.

Something doesn’t feel right

You're not sure about:

- the crypto investment offers 'guaranteed' high returns or 'free' money
- crypto service providers that withhold investment earnings for 'tax purposes'
- strange tokens appear in your digital wallet that you did not trade yourself
- there is little paper trail for crypto investments you make
the document describing the crypto investment (sometimes called a ‘whitepaper’) is poorly written or non-existent
- online searches indicate that an entity may be a scam or has bad reviews
- a work from home job offer that requires you to purchase cryptocurrency

What to do before you invest in crypto

Scammers are skilled at convincing people to part with their money by overpromising and using flashy marketing.

Here are some ways to be alert to crypto scams:

Always question social media ads and celebrity endorsements promoting crypto.
Search for the token or crypto exchange name on Google, with the word 'scam', ‘review’ or 'warning'.

Read the whitepaper for new coins.

Check for spelling mistakes. Search for information about people involved in the project. Look for proof of any claims of large partnerships.

Read websites carefully.

Verify listed addresses or phone numbers. Look for spelling mistakes. Be wary of a promise of large instant rewards if you sign up now, or large returns over a short period of time.

Beware of requests for payment in crypto.

It is unlikely that any legitimate financial services firm will ask you to pay exclusively in crypto. Be wary of any recruiter, online romantic partner, or online acquaintance who asks for a crypto payment.

List of bad service practice websites:

LINK FINANCIAL LIMITED or Squire's Finance Limited - At 12 of December, 2023 Paynoom was received e-mail from Lithuanian authorities.

LUFIDA - https://lufida.com/ website.

Be alert if someone offers ‘high returns’ for ‘low risk’ crypto investments.