Beware of these five bitcoin scams

[Master107]

Bitcoin’s meteoric rise in prices over the last year has awakened mainstream interest in the original cryptocurrency. With prices looking bullish once again, investing in bitcoin has never been as popular, but the rise in interest has not been without consequences. One of the downsides of new investors entering the market is the increase in the number of scams, frauds, and stories of retail investors who lose their coins to shady ventures. From ICO scandals to wallet theft and fraud, regular consumers can fall prey to crime easily.

It may seem as though it’s the wild west for investors, but it doesn't have to be. While there are certainly risks in the market, the opportunities may be irresistible for some. However, being cautious is always a must, and there are clear signs of scams that investors can look for. By avoiding these traps, users can better their chances for success and protect their investments. These are some of the most common scams, and how they can be avoided.

1. Hardware Wallet Theft
2. Exchange Scams
3. Fake ICOs
4. Cloud Mining Schemes
5. Multi-Level Marketing


Read more: https://www.investopedia.com/articles/forex/042315/beware-these-five-bitcoin-scams.asp

I also started this topic in bitcoin forum https://www.altcoinstalks.com/index.php?topic=65874.msg389618#msg389618

Be more educated
Guys be careful and be diligent. Take care

[backfirst77]

This is not just about bitcoin, but all existing cryptocurrency. So we have to be more careful to avoid fraud in the world of cryptocurrency. Because various kinds have been done to be able to steal or cheat us. Phishing is one of the many cases that have happened so far. Because of our lack of caution in registering a program with the lure of a lot of results.

[Kyoshiro]

Right bro. Let me add one about phishing sites. There are websites ordained by hackers that looks like the same as the original web. They steal informations easily. The best way to prevent phishing sites is by saving the original site. It is hard to determine though, but once you lost your coin, you'll know that you are in a hoax.

[Zed0X]

I just posted last night about a pyramid scheme that victimized a lot of crypto-uneducated people. https://thecurrencyanalytics.com/3624/cryptocurrency-pyramid-schemes-scrutinized-in-japan/

It is really unfortunate that something as revolutionary as cryptocurrency is being used by sick people for their own personal gains and giving it a bad reputation. 

[Terrexa_Exchange]

It is really unfortunate that something as revolutionary as cryptocurrency is being used by sick people for their own personal gains and giving it a bad reputation.

Whenever there is something new, there will always be someone to take advantage of the weak links. Yes, crypto is revolutionary, but show me a revolution when there weren't fringe groups making a profit from upheaval and playing both sides.

It might be a digital revolution, but we are still human, and part of the human condition is that there will always be people who lie, cheat, and steal - maybe we can turn it all over to the AIs?

[Zed0X]

It is really unfortunate that something as revolutionary as cryptocurrency is being used by sick people for their own personal gains and giving it a bad reputation.

Whenever there is something new, there will always be someone to take advantage of the weak links. Yes, crypto is revolutionary, but show me a revolution when there weren't fringe groups making a profit from upheaval and playing both sides.

I agree that whenever there's something new, there will always be people who'll take advantage of those who are unaware. That's still unfortunate though.

It might be a digital revolution, but we are still human, and part of the human condition is that there will always be people who lie, cheat, and steal - maybe we can turn it all over to the AIs?

I am not sure what you are trying to point out here. Is this an argument to my statement that  cryptocurrency is being used by sick people for their own personal gains?

[Bhussainn2]

At whatever point there is something new, there will dependably be somebody to exploit the feeble connections. Indeed, crypto is progressive, however demonstrate to me an unrest when there weren't periphery bunches making a benefit from change and playing the two sides.

It may be a computerized transformation, yet we are as yet human, and part of the human condition is that there will dependably be individuals who lie, cheat, and take - possibly we can turn it all over to the AIs?