Proper care should be taken while carrying out transactions on Oobit and there is a possibility of getting scammed by third parties. As with every investment mechanism, cryptocurrency is also faced with serious transactional fraud. These scams range from fake airdrops, failure to release funds or currency during trade, and fake accounts, among others. According to experts, absence of teams, whitepapers, and spelling mistakes/errors are some of the red flags you should watch out for.

Oobit is a platform for investing, managing and spending your cryptocurrency on a strong privacy and security system. We ensure that your investment is secured following the strict AML and global KYC standards for all of our users.

However, you should watch out for some red flags and warning signs while using the Oobit platform. Frauds in cryptocurrency can come in different formats and shapes. Be it a sudden increase in prices and returns, exaggerated guarantees, and seemingly untrue promises.

In this article, we’d be talking about some red flags you should watch out for while using our platform.

Oobit and Transaction Regulations and Policies

Launched in 2017 with the sole objective of integrating crypto into our daily lives, Oobit is the best platform for buying, sending, and receiving crypto across the globe with zero fees. The platform makes use of ground-breaking determination to introduce crypto to every financial situation.

We ensure that companies, brands, people, and even students, street café owners, and hairstylists all have equal access to digital currencies. They not only provide it most efficiently, but they also deliver it in a faster technique.

The strength of any financial platform is the privacy and security of its users and their information. Whatever happens to those two elements can make the firm, as much as it can mar it. Oobit is dedicated to protecting and securing the personal information provided by its users.

We put some strong safeguards and security systems that stood the test of time in maintaining the privacy and security of our users’ information. As a new user (or existing ones), it is important that you end your browser (log out) after submitting your information online.

This makes it impossible for cybercriminals to tap the information during transmission. However, even with all of the protections provided, we cannot assure you that your data is 100 percent secured over the internet.

Once it reached Oobit, it got stored on our server and designated technology and procedures took over the security task. The various systems will prevent any illegal threats and unforeseen intrusions from third parties. Apart from external security, we also secure the platform from the inside.

That is, we prevent any fake personnel who want to abuse the platform by scamming or defrauding other users. Once any illegal action is detected by our anti-fraud tools, we hold the right to suspend or terminate such user accounts.

We withheld the funds of the user without providing the reason for doing so and we also hold every right to report such fraudulent acts to the necessary authority. We value our users as well as their information and money.

Some punishable acts on our platform include, but are not limited to:

  • Participating in any forms of collusion with other users;
  • Unlawful, fixing, collusive, or any other fraudulent activities;
  • Fraudulent activities against other payment providers or websites;
  • Creating multiple accounts;
  • Denial of payments made or chargeback transactions with a credit card; and
  • All forms of scams and cheating.

Important Tips and Red Flags To Look Out For While Transacting on Oobit

1.Do your research: For everything you want to start, a proper understanding of how it works and familiarity with the system is important. For cryptocurrency, it is important you do your research properly. Know some terms and concepts in the industry. Familiarize yourself with top verified and licensed exchanges and brokers. Check out platforms and companies that deal in the trade and their affiliations (if any). Finally, your research should cover which crypto is worth investing in and which wallets are legitimate.

2. Secure your Oobit Wallet: The sole objective of investing is to make profits, crypto trading included. Thus, you must secure your wallet to prevent losing both your capital and profit to scammers. Some measures you can consider include, creating a strong password, enabling two-factor authentication (2FA), dealing with reputable wallet providers, and never clicking links or downloading files from unknown sources, among others.

3. Avoid the noise and social media adverts: One thing you should avoid is listening to noise in the crypto industry. Although, there might be some updates that are real and will favour you. Yet, there are millions out there that will only end up tapping your information illegally and using such information to their own advantage.

4. Stay away from “Too good to be true” messages: Once you receive an update or get a message that has it all written over it that it’s a scam, avoid it. Some information needs no fortune teller before knowing they are nothing near being true. Watch out for them! Only scammers promise immediate huge returns.

5. Watch out for red flags: Listed below are some major red flags you must avoid if you ever want to secure your fund and personal information from scammers and frauds.

  • Fake coins or schemes
  • Unsanctioned withdrawals
  • Phishing emails
  • Unrecognized platforms or websites
  • Incessant spamming from other users
  • Spelling errors and mistakes in messages

6. Report Frauds: The last and most important one is that you report any of such acts to the platform support center. We are always there to listen to you.  

Final Thoughts

Some third parties might send you buying or selling requests to implement it on Oobit. You should do your part by carrying out an extensive background check on the company and know where you are sending your fund.

Above all, when a price, quote or proposition sounds too good to be true, you should trust your gut and never risk your money.

Oobit Technologies Pte, 50 Raffles Place #37-00 Singapore Land Tower, Singapore (048623). is a company registered in Singapore (no:201716443G), that has been approved as Appointed Representative of Oobit Technologies OÜ, Harju maakond, Tallinn, Lasnamäe linnaosa, Väike-Paala tn 2, 11415, (no: 14852617 ). Which is authorized and regulated by the FIU (no: FVR001421 and FRK001304).