How to avoid being scammed when receiving cryptocurrency

[Cryptoverse]

How to avoid being scammed when receiving cryptocurrency payments from clients (including checking for fake BEP-20 tokens).

With the growing popularity of cryptocurrencies, more and more freelancers, entrepreneurs, and online services are starting to accept payments in crypto. It's convenient, fast, and often cheaper than traditional methods. However, this also brings a new problem: the risk of receiving payment in scam tokens or fake cryptocurrency that is effectively worthless.

Let's explore how this type of scam works, and how to distinguish a fake BEP-20 token from a genuine one.

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The scammer offers payment for a product or service in cryptocurrency. Everything looks legitimate:

• It sends tokens to your wallet.
• You see the transaction
• The balance has increased

But in reality:

• This is a token with no value.
• He has no liquidity
• It is not traded on the stock exchanges.
• Sometimes it's just a clone of a well-known token

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BEP-20 is the token standard on the Binance Smart Chain (BSC) network. Anyone can create a token on this network in a matter of minutes. This is why there are so many fakes.

Scammers create tokens with names like:

• USDT
• BUSD
• ETH
• BTC

But these are not real assets - just copies with a different contract.

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1. Contract verification is the most important step.
Each token has a unique contract address. Genuine tokens always have one official contract.

What to do:

• Find the official website of the project
• Copy the contract from there
• Compare with what you received

If the address is different, it's fake.

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2. Verification via BscScan
Go to the BSC blockchain explorer (BscScan) and paste the token contract:

Please note:

• Name and symbol
• Number of holders
• Transactions
• “Verified Contract” label

Fake tokens often have:

• Very few holders
• Suspicious transactions
• Lack of verification

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3. Checking Liquidity
Even if a token appears "real," it's important to determine whether it can be sold.

Check:

• Is there a match on PancakeSwap?
• Is there liquidity?
• Is it possible to make a swap?

If there is no liquidity, the token is useless.

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4. Checking the listing
Real tokens are usually present:

• On CoinMarketCap
• On CoinGecko
• On major exchanges

If the token is not mentioned anywhere, this is a warning sign.

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5. Be careful with identical names.
The name and logo mean nothing.

Example:

• “USDT” may exist in hundreds of copies
• Only one contract is real

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6. Checking via a wallet:
Some wallets automatically flag suspicious tokens.

But it's important to understand:

• Even if the token is displayed, it doesn't mean it's real.
• Adding a token manually = increased risk

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1. The client says: "I will pay in USDT (BEP-20)"
2. Sends a token named USDT
3. You see the balance and think everything is ok.
4. Trying to sell - there is no liquidity

Bottom line: the token is a dud.

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• Accept only specific tokens and networks (eg: USDT TRC20 or ERC20)
• Always check the contract
• Use a token whitelist
• Check liquidity before accepting payment
• Don't accept "alternative tokens" from clients

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If you haven't checked the contract, consider that you haven't been paid.

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• Does the contract match the official one?
• Is the token listed on CoinMarketCap/CoinGecko?
• Is there liquidity?
• Can it be sold?
• Is there any confirmation of the transaction?

If even one point raises doubts, it is better to refuse the deal.

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Fake BEP-20 tokens are one of the most common scams in crypto. The ease of their creation makes the network a convenient target for scammers.
In cryptocurrency, it's not what you're "sent" that matters, but what you can actually sell and withdraw.
Trust only verified data, not the client's word.