To avoid bitcoin scams,beware of tricked by easy pickings,don’t open any unknown links.You should also avoid malware downloads & don’t trust fake digital wallets. & use verified websites for protection.
Topic: 5 Ways to Avoid Bitcoin Scams - page 11. (Read 2809 times)
You have given some really good tips to avoid scams and what i would like to add here is go through the white paper thoroughly before choosing an ICO. I expect more such post on how to avoid hackings too.
First of all you need to know something about blockchain system and you need to understand there are many scammers with many problems. A new joined person should learn about transactions and need to know there are no returning back in wrong transactions. Many people thinks that the system like banks have but unfortunately not..
Scammers easily fooled new people. It’s a mandatory to follow all the major points to stay away from scams. If we skip this important thing there is a high possibility to fall in the trap of scammers.
bitcoin is great for those who are scrupulous about studying and storing information, and is bad for those who do not feel responsible for their money
The way that are described are best way to avoid scam. Moreover, there are a lot of fake ICO projects that are available in the crypto market. People those who are working in those projects, invest a lot of money. But at last they lost all of them. So, the investors should be careful about that.
I agree with your points that you described to avoid scams. These are the only way to avoid scams. Moreover, you people may attack by phishing. So, to avoid phishing, people should use linux or mac operating systems.
Yeah, these are the best ways to avoid scams. But I think many people invest to buy scammy cryptocurrencies. Because most of the time they can’t understand which are fake or original. So, they got trapped.
That is not a valid excuse. No people will get trapped if all have due diligence in doing research.
Yeah, these are the best ways to avoid scams. But I think many people invest to buy scammy cryptocurrencies. Because most of the time they can’t understand which are fake or original. So, they got trapped.
You really did a great job because now a day scammers of bitcoin has become very active and many users of bitcoin just afraid to invest only because they are afraid to this scammers or already being scammed.
Great to learn about this. It’ll help most of us. I think beside these 5, there are also more ways by which we can avoid bitcoin scams. The most important thing is that we all have to aware about this.
One of the type of scam :
Romance scam: This one is pretty difficult, as it plays on significant emotional attachment. However, try to keep in mind that if your hopeful romantic partner whom you've rarely met or never met asks you for large sums of money, it is at high risk of being a scam. Common excuses are funds to help pay for travel costs to see the victim, help to get property held by customs in a foreign country, and help for medical expenses. The supposed love interest is often in a different country entirely, making many of these setups possible.
Romance scam: This one is pretty difficult, as it plays on significant emotional attachment. However, try to keep in mind that if your hopeful romantic partner whom you've rarely met or never met asks you for large sums of money, it is at high risk of being a scam. Common excuses are funds to help pay for travel costs to see the victim, help to get property held by customs in a foreign country, and help for medical expenses. The supposed love interest is often in a different country entirely, making many of these setups possible.
As interest in digital currencies increases such as Bitcoin, more and more Bitcoin scams promise high returns. Unrealistic lure is clearly a mere cover, and usually ends with the loss of clients' funds. Fraud often spreads in social circles based on trusted relationships. Therefore, we must be aware that there are cunning fraudsters who can actively seek ways to deceive with absurd tricks and offers.
How to avoid bitcoin scams :
1. Know What You Are Facing
You don't need to rush to decide whether an investment product is a scam or not. All you need to do is, take a moment to find complete information about the project. The easiest way to do this is to find information in the form of company details or Whitepaper (if ICO), and other things related to the investment product. Learn all the details carefully and do some research on testimonials, comments, and so on. Another way is to join a Bitcoin forum like Bitcointalk, and immediately ask for credibility of an investment product or company to other members.
2. Avoid Unrealistic Offerings
Usually, crypto currency fraud can disguise its identity by using a social media account or advertising banner that looks professional. Mark Steward, director of FCA law enforcement, explained that when people become more skeptical of the real world regarding investment and consumer habits have changed, investment fraud has moved into the realm of Online and social media.
How to avoid this Bitcoin Scam is, you are better selective about all investment offerings from the Online platform that you did not ask for, whether through social media, email, or even by telephone. Even if it looks official, pay attention to how it is offered. Con artists usually dare to promise high profits to lure victims. So if you feel the promise of profits is unrealistic, immediately ignore the proposed offer.
3. Beware of Phising Web Pages
Increased interest in crypto currencies makes many new investors enter the market. Lots of land in a fake landing page that claims to be a popular digital currency exchange platform. One example is the one that uses the Punycode technique. Through this method, the fake domain 'xn - inance-hrb [dot] com' can be displayed as 'ƅinance [dot] com'. This technique is usually able to deceive consumers, because web pages can look really like the original. You can overcome this by being aware of vulnerabilities that exist in internet browsers, such as Chrome, Firefox, and Opera,
4. Beware of Fake Digital Wallets
Fake virtual wallets often appear online or at the mobile app store. In the example of a fake Wallet fraud that happened, more than $ 3.3 million was stolen from users who want to claim their Bitcoin Gold. To anticipate similar events, many Bitcoin Wallet providers caution clients to be aware of the cloning of scammers who want to steal victim funds by imitating their appearance.
MyEtherWallet for example, warns customers about fake MyEtherWallet in December. In addition, before choosing a digital wallet provider, do research first. Please share opinions on leading crypto forums, both local and foreign. In essence, only use the Wallet provider with a good track record.
5. Beware of Bitcoin Thief Malware
Malware is something that concerns computer owners. But now, a new category of malware capable of stealing Bitcoin-related data has appeared. Malware authorized by the computer owner is able to record typing or search for a file with the keyword "Account", "Password", "Bitcoin", "Wallet", or other keywords specified by the author, then upload the file to an anonymous server automatically.
In addition, there is also a malware that seeks to absorb the computing power of computer users to mine crypto. Anticipating this, YouTube is trying to deactivate ads that take computing power to mine crypto currencies. It is believed, after users see the related ad videos, the computer becomes slow and there will be warnings from anti-virus programs. Malware like this can steal up to 100% of computing power to mine crypto currencies (generally Monero). The solution that can be applied here is to install strong anti-virus protection and active Firewall to protect the computer.
How to avoid bitcoin scams :
1. Know What You Are Facing
You don't need to rush to decide whether an investment product is a scam or not. All you need to do is, take a moment to find complete information about the project. The easiest way to do this is to find information in the form of company details or Whitepaper (if ICO), and other things related to the investment product. Learn all the details carefully and do some research on testimonials, comments, and so on. Another way is to join a Bitcoin forum like Bitcointalk, and immediately ask for credibility of an investment product or company to other members.
2. Avoid Unrealistic Offerings
Usually, crypto currency fraud can disguise its identity by using a social media account or advertising banner that looks professional. Mark Steward, director of FCA law enforcement, explained that when people become more skeptical of the real world regarding investment and consumer habits have changed, investment fraud has moved into the realm of Online and social media.
How to avoid this Bitcoin Scam is, you are better selective about all investment offerings from the Online platform that you did not ask for, whether through social media, email, or even by telephone. Even if it looks official, pay attention to how it is offered. Con artists usually dare to promise high profits to lure victims. So if you feel the promise of profits is unrealistic, immediately ignore the proposed offer.
3. Beware of Phising Web Pages
Increased interest in crypto currencies makes many new investors enter the market. Lots of land in a fake landing page that claims to be a popular digital currency exchange platform. One example is the one that uses the Punycode technique. Through this method, the fake domain 'xn - inance-hrb [dot] com' can be displayed as 'ƅinance [dot] com'. This technique is usually able to deceive consumers, because web pages can look really like the original. You can overcome this by being aware of vulnerabilities that exist in internet browsers, such as Chrome, Firefox, and Opera,
4. Beware of Fake Digital Wallets
Fake virtual wallets often appear online or at the mobile app store. In the example of a fake Wallet fraud that happened, more than $ 3.3 million was stolen from users who want to claim their Bitcoin Gold. To anticipate similar events, many Bitcoin Wallet providers caution clients to be aware of the cloning of scammers who want to steal victim funds by imitating their appearance.
MyEtherWallet for example, warns customers about fake MyEtherWallet in December. In addition, before choosing a digital wallet provider, do research first. Please share opinions on leading crypto forums, both local and foreign. In essence, only use the Wallet provider with a good track record.
5. Beware of Bitcoin Thief Malware
Malware is something that concerns computer owners. But now, a new category of malware capable of stealing Bitcoin-related data has appeared. Malware authorized by the computer owner is able to record typing or search for a file with the keyword "Account", "Password", "Bitcoin", "Wallet", or other keywords specified by the author, then upload the file to an anonymous server automatically.
In addition, there is also a malware that seeks to absorb the computing power of computer users to mine crypto. Anticipating this, YouTube is trying to deactivate ads that take computing power to mine crypto currencies. It is believed, after users see the related ad videos, the computer becomes slow and there will be warnings from anti-virus programs. Malware like this can steal up to 100% of computing power to mine crypto currencies (generally Monero). The solution that can be applied here is to install strong anti-virus protection and active Firewall to protect the computer.
I'll do really agree with this. And also be knowledgeable about bitcoin if you really don't want be scam. Like benjamin said "An investment in Knowledge always pays the best interest''.
Thank you for sharing this information with us. It was very important for me, because now there are a lot of scammers and I worry about my savings
maybe how to avoid it we need to see how many people follow the signature but if it's a little i never follow it and but if people follow it to the hundreds surely the project will succeed and be dependent on ourselves .
This is not really only about bitcoin because these are the ways of deceiving people for scams. These are multiple ways which can be used for scamming anything from altcoins to bitcoin and even fiat purchases made.
This can be titled as ways to get scammed in crypto currencies.
Its good tutorial anyway, and in all of them phishing has gotten a lot of roots in the deep crypto. They are everywhere via different sites, offerings, email links and basically every stuff that we click on!
This can be titled as ways to get scammed in crypto currencies.
Its good tutorial anyway, and in all of them phishing has gotten a lot of roots in the deep crypto. They are everywhere via different sites, offerings, email links and basically every stuff that we click on!
If you don't want to get scammed. Just choose the right coin which is AML BitCoin. As AML BitCoin rests on a privately regulated public blockchain that facilitates AML-KYC compliance and identifies criminals associated with illicit transactions while maintaining and strengthening the privacy protections for legitimate users.
That is very important to everyone that we should be careful in what things we are doing. Phishing site could only victimized to those who is not taking extra careful in opening the website. I would rather be delay in my transaction rather than be a victim of hackers.
i appreciate your opinion. I think another important thing you may be missed. You can use mac to avoid the scam. the people who involved in crypto market we should aware about this scam.
And i recommended to use operation systems, like mac os or ubuntu, because windows subject to virus attacks much more than the above. I use mac os more then 2 years and didn't get any attack.
The truth will reveal. It is better to be ready than lazy.
Prevention is better than cure. Online is vulnerable. So not safe.
However, it is also about the os use and the management of the owner.
Jump to: