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Four Tips on Identifying and Avoiding Fake Apps for Investing

Alex Lowe by Alex Lowe
November 16, 2021
in Hot Investments
0

Home » Four Tips on Identifying and Avoiding Fake Apps for Investing

Learning how to identify fake apps is one of the most important things when learning how to buy Bitcoin. After all, the last thing anybody wants to do is invest their money into a fake cryptocurrency app.

Mobile app shops provide a bewildering number of alternatives for device users, but spyware masquerading as legal apps might be among them. Some phony applications are exact replicas of the real item, down to the user interface and product choices.

At an alarmingly high rate, copycats create and sell their own copies of famous programs. While app stores work to identify and remove fraudulent programs, people can do a few things to ensure that they are only downloading and installing the real thing.

Table of contents

  • 1. Always Go Straight to the Source
  • 2. Follow Word-of-Mouth Recommendations
  • 3. Pay Attention to the Details
  • 4. Pay Attention to How it Feels to Use the App

1. Always Go Straight to the Source

One method to ensure the installation of a legitimate app is to go to the creator’s official website and look for the app’s direct link in the app store. This also indicates which app publisher is a trustworthy source for comparable apps from the same firm.

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If people are struggling to locate a link to an app on the company’s official website, they should be wary about downloading it from the store. Some firms don’t have related applications, which means that any apps in the app store affiliated with them are fakes meant to steal people’s credit card information and other personal information. Similarly, because certain firms do not have legitimate applications in some locations, fraudsters create knockoff apps to deceive consumers in those areas.

If a person is positive that the company has an app available for download but they struggle to locate it, the best thing to do is contact the company directly. Use the “contact us” section of the website or call them and inquire about the app.

2. Follow Word-of-Mouth Recommendations

When learning how to buy Bitcoin, word of mouth is one of the ways people go about investing. If a person wants to download a specific investing app but can’t find it on a company’s website, it can be a struggle to know what one to download. In these cases, people need to carefully search through all of the reviews of the related investing app. Read the positive and the negative comments to get an overall picture of the app and its developers. 

Negative reviews might highlight problems that past customers had with the program. Pay careful attention to comments about the program asking unusual permissions, making illegal charges to a mobile wallet, changing settings without authorization, or otherwise acting oddly. Another big red flag for a fraudulent app is if a user states that the publisher’s customer service is non-existent.

Positive feedback can offer almost as much information as negative feedback. Because fake applications may be acquired on the dark web, they may have a high percentage of favourable ratings. It’s quite rare that an app will receive a slew of favourable ratings, no matter how long it’s been in development. Always check the review history to see how far back the positive reviews go.

3. Pay Attention to the Details

People might be able to detect fraudulent apps just by reading the descriptions and looking at the photos. Real businesses double-check their descriptions and only provide clear professional screenshots. With fakes, this isn’t always the case.

Applications that are only a few months old should be treated with caution, whereas applications that have had frequent upgrades are more reliable. Pay close attention to the notes and description to discover if changes were made to address consumer concerns, add functionality, or repair issues. Examine the review history to determine if it covers client experiences from numerous updates.

4. Pay Attention to How it Feels to Use the App

Sometimes when people first start using an application, it may not feel quite right. If something feels off when a person is using an app, even if it’s just something minor, it’s a good idea to investigate things a little further to see if it’s a scam.

For example, people might discover that the colours differ from those on the website or in advertisements, that the logo is wrong, or that advertised functions are missing. Uninstall the program and check with the business to verify that the correct version was obtained.

Alex Lowe

Alex Lowe

Alex is a financial writer covering forex. He is a expert financial journalist whose credits include Bloomberg, FT of London, Chicago Tribune. Contact: [email protected]

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