That is the main target for scammers for new users to jump into the world of Cryptocurrenty, they really take advantage of new users to offer investment appendages and get huge, lucrative profits for their goals.
Maybe until now there has not been for prevention, even very much in telegrams or on social media for scammers looking for prey for their deception and reap huge profits in their actions ..
Maybe for old users like us we can avoid it but for new users it is making more and more victims of unclear investment ..
Topic: Bitcoin scams and new Bitcoin users - page 2. (Read 2224 times)
this is one of the reasons why majority of the population still think that bitcoin is a big scam.newbies should learn how to research and study what they are up to...its not just a one day big time life event.and as i always say to my friends that shows interest entering crypto dont think that if you invest today tomorrow you will be rich,its a matter of time and patience.and there is no such thing as double your money instant.you need to work for it learn more about it and focus.long patience is a must here.
1. Cloud mining scam where they make users to invest in their cloud mining and give them a very small % of their amount daily and also encourage them to bring more members so they can get extra rewarded after a time when deposit amount starts to slow down and withdrawal amount starts to increase then their threshold they simply vanished.
2. Multi level marketing scam this work as from oldest days just invest an amount bring two more make your own tree and earn rewards starting ones in this scams who are able to get many other people always get profited and 99% of members who are in down ranks get scammed they do the same when incoming amounts slow down and outgoing amount reach a certain threshold they simply vanish.
3. The seed hack scammers are approaching people saying we will teach you how to make 100$ in one hour and you need to give it to us most common people don't know about seed and put their btc in online wallet such as coinbase or blockchain so scammer get their screen shared and make them transfer their btc in a wallet such as electrum and got their seeds screenshots open their wallet in their own computer and transfer the amount people had no idea what struck them .
4. Investment scams deposit x amount and get x amount this is the most common type of scams getting all over the internet it is a small amount scam usually people don't mind to fell in it by giving 5-50$ of amount to these scammers .
Talk about number 1 is really like touching my reverse scale, who knows about pbmining or ltcgear, well I did it, but talk about those i think most longest scam is LTCgear. Many people from btctalk or ltctalk support it before the owner ( Beekeeper ) got silent after 2 yrs operation. It started with black friday as a reason for great sale. After that not too long it started with delayed payments and many updates which started people doubting that this services is going strange. Finally on its day, people from many countries pursuing Bees. Well, thats my story and i just passing by to tell u guys never ever trust cloud mining services again.
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If someone still wants to invest in BTC, I just tell them to use an exchange, never withdraw from that exchange and use a unique username, password, 2FA and use 2FA for email password also.
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why you suggested not withdraw from exchange? Why I will not withdraw from the exchange? isn't it safe? If someone still wants to invest in BTC, I just tell them to use an exchange, never withdraw from that exchange and use a unique username, password, 2FA and use 2FA for email password also.
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If I do not withdraw, how can I find a profit from there?
This is actually one of the reasons why I tell my family not to buy BTC until they take the time to learn about crypto security and to avoid many scams. If someone still wants to invest in BTC, I just tell them to use an exchange, never withdraw from that exchange and use a unique username, password, 2FA and use 2FA for email password also.
I am sure in the future there will be more security which will be easier for most to implement but these days its crazy by the amount of new adopters that are getting scammed everyday. Its pretty bad because if someone gets scammed once it usually means they will move on to different investments such as stocks instead to avoid these issues.
I am sure in the future there will be more security which will be easier for most to implement but these days its crazy by the amount of new adopters that are getting scammed everyday. Its pretty bad because if someone gets scammed once it usually means they will move on to different investments such as stocks instead to avoid these issues.
Someone who has just entered the market can come into contact with fraudsters in some way. People think that bitcoin is a means to make themselves rich. Scammers can deceive people with these promises. Research is needed first.
This creates a negative impact to bitcoin too. As these scammers take advantage of people who know little to none about bitcoin but dove in anyway. They can give bad remarks about cryptocurrencies which could then lead to a lowered if not heavily reduced amount of people who invest in cryptocurrencies. Proper knowledge is truly needed to ensure that everyone is aware of what really bitcoin is or at the very least what it is truly meant for.The issue of scams is clearly due to ignorance of information, even in many parts of the world, even in third world countries there are people with pyramid schemes that operate with FIAT money and there are still new victims, if this happens in the system of FIAT money, imagine just thinking about what happens in the crypto world.
Many pyramid schemes keep coming out and people coming together believing that from one day to the next they will have very large profits without almost working, it is absurd, and this demonstrates a clear culture and financial education.
Cloud mining, MLM, Ponzi, is one type of fraud that is common but for ordinary people, it is like a beautiful hope that is very lucrative. The fraudsters will try as much as possible to package it in a form that seems professional and promising, but that is only a hoax. It even includes fake testimonials, so education about this should be done more intensively. Especially for some people who join cryptocurrency because they want instant profit without learning and without having enough knowledge in this ecosystem, they are easily influenced. And when they are caught in fraud because of their own mistakes, they say that cryptocurrency is a scam. That's so annoying.
Then, let's break their intention. In general, scams are always around us, they will strike anytime if they have time and saw if that person could be their possible prey and the sad thing is that most of their targets are those new in crypto and definitely those who want instant returns. They are smart to trick people like these but if we have time to listen to what the other says, we can escape for their trap.
Yes, scams target you. You are right. Newbies should spend more time and not be in a hurry to join, all of them need process and analysis, not just trusting people who have no basis, it's better to learn more from trusted people who are known and experienced in cryptocurrency in advance. Someone who has just entered the market can come into contact with fraudsters in some way. People think that bitcoin is a means to make themselves rich. Scammers can deceive people with these promises. Research is needed first.
This creates a negative impact to bitcoin too. As these scammers take advantage of people who know little to none about bitcoin but dove in anyway. They can give bad remarks about cryptocurrencies which could then lead to a lowered if not heavily reduced amount of people who invest in cryptocurrencies. Proper knowledge is truly needed to ensure that everyone is aware of what really bitcoin is or at the very least what it is truly meant for.These are obvious scams though and should bring flags. Even if someone is not sure that is fine but then they can just invest a small amount. If new users only made small investments then the scams would die away and not make enough money. I understand someone is new and may not think it is a scam but they should still have a bad feeling about it and take safe precautions like investing only small amounts. They only have themselves to blame for their own foolishness.
Someone who has just entered the market can come into contact with fraudsters in some way. People think that bitcoin is a means to make themselves rich. Scammers can deceive people with these promises. Research is needed first.
This creates a negative impact to bitcoin too. As these scammers take advantage of people who know little to none about bitcoin but dove in anyway. They can give bad remarks about cryptocurrencies which could then lead to a lowered if not heavily reduced amount of people who invest in cryptocurrencies. Proper knowledge is truly needed to ensure that everyone is aware of what really bitcoin is or at the very least what it is truly meant for. My co-worker easily fall for that cloud mining scam. She invested minimum amount with their package deal and promised to return daily 2% of her investment. Weeks has passed, they are giving the return 2% at first and then it suddenly shut down.
The point here is that she seeked advices from me and she didn't listened. What we should always do to make sure if the site is really paying or not are,
Even before, I always discouraged those obvious scam schemes, pyramid/networking or high pay returns. Be vigilant joining those. Awareness is always the key.
The point here is that she seeked advices from me and she didn't listened. What we should always do to make sure if the site is really paying or not are,
- feedback of the users,
- search for the team (some are bogus),
- their platform (how can they even pay in return without selling any products or without any trading actions?)
Even before, I always discouraged those obvious scam schemes, pyramid/networking or high pay returns. Be vigilant joining those. Awareness is always the key.
I remember there was a lot of cloud mining investments back then. If I remember correctly one was Genesis Mining or something. I was about to invest in that one but changed my mind because my friend who is very knowledgeable about the crypto market discouraged me to join and it was the right decision not to join. I have been scammed a few times already but it's money that I can afford to lose so it is okay. I joined an investment before that one through that same friend because he was able to receive a profit. Unfortunately, after the said update they did not get online and turned into a scam.
Someone who has just entered the market can come into contact with fraudsters in some way. People think that bitcoin is a means to make themselves rich. Scammers can deceive people with these promises. Research is needed first.
IMO, research is not enough when you are to determine if a project or a platform is a scam or not, sometimes, you need to see for yourself and to test it personally to determine if the site is legit or not, but with this method, scammers might just be provided with initiative to scam further, so to avoid being scam, the best way is to prevent this site and rely only to those proven to be good and with huge reputation. Or else, you might be fallen for traps and your funds will just be stolen.
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People that fall for most of these scams ate stupid. I can understand falling for a cleverly hidden scam but most are obvious and people still fall for them. They deserve all that they get. Its a hard lesson but what did they expect. If you going to be so stupid and loose with your funding then you going to lose it. A fool and his money are easily part.
Well, it's true though. Sometimes people could trust a complete stranger with the money they "had" without using their brain of what might happen to them and to their money which usually make them a victim of scamming. It's unbelievable that people could easily got lured when they are completely overtaken by their greediness and there are some stupidest scenario of being scammed out there that part of me makes a conclusion that there are no helping for these kind of people. 
People that fall for most of these scams ate stupid. I can understand falling for a cleverly hidden scam but most are obvious and people still fall for them. They deserve all that they get. Its a hard lesson but what did they expect. If you going to be so stupid and loose with your funding then you going to lose it. A fool and his money are easily part.
People falling for scams can't be blamed to be stupid, because even the trusted projects turn to be scam due to some issues on lack of development, funding and promotion. Each and every human wish to make easy money, upon the same they make investment. Everyone after hard analysis makes an investment, but when the same turns to be a scam they aren't fools. There are people who choose on random choice. 
Someone who has just entered the market can come into contact with fraudsters in some way. People think that bitcoin is a means to make themselves rich. Scammers can deceive people with these promises. Research is needed first.
To do your due diligence is a necessary step no matter in what market you want to invest however many people that have never read a book about investing or trading believe themselves to be investors just because they put their money in a coin and that is not true, this market facilitates many of the things that an investor must do but it is up to each person to have the knowledge and the skills necessary to be a good investor and many people never take the time to do that so they keep falling for every scam they find. 
People that fall for most of these scams ate stupid. I can understand falling for a cleverly hidden scam but most are obvious and people still fall for them. They deserve all that they get. Its a hard lesson but what did they expect. If you going to be so stupid and loose with your funding then you going to lose it. A fool and his money are easily part.
Most people want easy money and they fall into the scammers ' pit. And I know it's happening all the time and most people lack awareness about how this investment actually works and that's why they're taking advantage of it and exploiting it as well. So even you have a lot of post about this scheme, people are still entertaining so making an investment even you know there's a huge risk of losing their money.
But basically, this kind of post does really help newbies and users to be aware of what could happen to them if they trust some quick rich scheme investment platform. One of of education is repetition, I highly believe that us, seeing warnings will eventually lead us to become more vigilant and aware of being scammed. Imagine, if there is no one reminding us with this, even if we have strong foundation of knowledge, if we miss a single sign that a project or offer is doubtful, we could might as well, fall for these traps.
I think what Bitcoin need to prioritize here is having wise decisions. It might be true that Bitcoin can really help in earning money especially for those who are in need of it. However this mustn't be taken advantage because who knows where it might bring you. Lack of research and inquiry can really lead you to a bad spot instead of a smooth transaction to be. So one must do deep research especially with the type of scams to avoid it and to share experience and information with other users also.
Most people want easy money and they fall into the scammers ' pit. And I know it's happening all the time and most people lack awareness about how this investment actually works and that's why they're taking advantage of it and exploiting it as well. So even you have a lot of post about this scheme, people are still entertaining so making an investment even you know there's a huge risk of losing their money.
But basically, this kind of post does really help newbies and users to be aware of what could happen to them if they trust some quick rich scheme investment platform. One of of education is repetition, I highly believe that us, seeing warnings will eventually lead us to become more vigilant and aware of being scammed. Imagine, if there is no one reminding us with this, even if we have strong foundation of knowledge, if we miss a single sign that a project or offer is doubtful, we could might as well, fall for these traps.
Most people want easy money and they fall into the scammers ' pit. And I know it's happening all the time and most people lack awareness about how this investment actually works and that's why they're taking advantage of it and exploiting it as well. So even you have a lot of post about this scheme, people are still entertaining so making an investment even you know there's a huge risk of losing their money.
But basically, this kind of post does really help newbies and users to be aware of what could happen to them if they trust some quick rich scheme investment platform. One of of education is repetition, I highly believe that us, seeing warnings will eventually lead us to become more vigilant and aware of being scammed. Imagine, if there is no one reminding us with this, even if we have strong foundation of knowledge, if we miss a single sign that a project or offer is doubtful, we could might as well, fall for these traps.
New users should be prepared for the fact that everyone wants to deceive them. There are many tips. But new users should get their own personal experience.
I know that was sad looking at newbies been a victim to this devil act but I also think that it better for them to experience that way in order for them to learn and how scammers catch their prey. Scammers are smart but most noobs also smarter and take advantage of a certain offer that scammers give to them. If these new Bitcoiners/users would have time to think before they'll take action, it absolutely they could find out how it goes like that. Jump to: