The scammers strike up a relationship with their targets to build their trust, sometimes talking or chatting several times a day. Then, they make up a story and ask for money. Scammers ask you to pay by wiring money, with reload cards, or with gift cards because they can get cash quickly and remain anonymous. They also know the transactions are almost impossible to reverse.
If you paid a romance scammer with a gift card , contact the company that issued the card right away. Tell them you paid a scammer with the gift card and ask if they can refund your money.
Avoiding a cryptocurrency scam
Notify the website or app where you met the scammer, too. Along with Siegel, the Argentinian influencer Catalina was also suspended. But scam accounts on Instagram try to contact or follow me weekly, more than other platforms, especially since the COVID crisis began. There are many authentic influencer accounts doing giveaways on Instagram as part of their COVID marketing strategies.
Despite this climate, Instagram still does provide an important networking platform for the crypto industry.
Especially in Latin America, some entrepreneurs rely on Instagram to communicate with customers about their products. Brazilian entrepreneur Edmilson Rodrigues, of both Bonnum and Lovecryptonet , often serves Venezuelan refugees who rely on mobile apps for communication. Chinese investor turned Novadax CEO Beibei Liu said thousands of Brazilians used her exchange to buy bitcoin for the first time over the past few months.
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Even for the minority of professional traders using the platform, such as Portugese-speaking liquidity providers in Europe or the United States, Instagram marketing helps the startup establish trust. We show that we continue to update our products. Indeed, the company is officially opening support for European traders in August, after months of limited onboarding, to help boost liquidity and create a complementary flow between institutions and the emerging retail market.
This is why authenticity on social media platforms like Instagram, which is so difficult for moderators to safeguard, is a key factor influencing cryptocurrency adoption patterns.
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