Topic: How To Spot A Bitcoin Scam - page 4. (Read 2110 times)

There is no real a technical way for us to know if some offers about Bitcoin is a scam or not. It is just a matter of our decision and knowledge. And it is true that we always need to be suspicious on the program or project that could probably a scam and could be a result for our loss in terms of bitcoin.

along with the famous bitcoin around the world because of its fantastic price, now there is a lot of fraud against bitcoin users.
among them using fake investment sites or fake mining services or how to double bitcoin quickly. I find so many scams spread across social media.

It's easy to find out that this is a scam or not. First give a big return on our investments just after a few days. It is called Ponzi, Hyip (High Yield Investment Program).

Even companies that are in the industry can also make a fool. Because nothing lasts for bitcoins invest in the end it will still steal our hard earned money.
this is my advice. Avoid those investments.

sometimes also do very easy actions to influence the investors and also interested parties to join and use bitcoin as capital, but the fact is a lie or scam.

Scams related to bitcoin can be easily identified, because majority of the scams promote services providing profits in multiples in a days time or two for the investment amount. If you make a research about the availability of the list of scams, you could find lots in the name of investment and cloud mining.

This is surprisingly simple but also a good piece of advice. Google is a very powerful tool if you know how to use it correctly. Also, for the most part, coins are scams when they seem too good to be true or when they're fudging numbers. Always use your intuition to see whether or not a deal seems too good to be true.

Also google 'coin name scam'. If other people are having problems with that coin, they will have written about it and it should come up when you google.

About investments, usually all HYIPS always turns out being scam. At first they will give what they promise and after collecting funds, they will run. Since I started on back at 2015, all those MLM schemes(example is MMM global), HYIPS(that promises a lifetime 3% profits per day), and even mining sites that runs for years like hashOcean (that o tried, luckily i got my ROI and earned some profits in it before they vanished) runs! Now not a single site among them is left. So always put them aside when you are planning to invest guys. Instead, put your btc on ICO's that are really prepared and never rushes their goals and trade on established altcoins.

Just even on common sense you would able to identify which is legit and which is not but when we are still a newbie chances of getting scammed is high since we do still lack on knowledge into things around us but as early as we can we should really be knowledgeable already and good for you that you did ask that question into this community which you can really able to listen or read on whats the community been advicing here and as being said if all things are too good to be true then most likely of them are scam.Dont get blinded by good offers on a short period of time.

I just avoid hyip and mlm just scams you do not have that profit but you're the bitcoin. so the bitcoin chops the background because of their schemes. if you do not want to scam you trade or gamble you lucky man go to be a millionaire. you just know that you will be dealing with bitcoins with different schemes if you have known that a long bitcoin holder will first check or check on badbitcoinaddress.com if you just search google.

how do you recognize a scam just like that? You can be mistaken, because now many scammers are making good websites but they are scamming people. the most effective way to recognize a project or website is a scam or not is to look at the team's track record, if necessary you search on google.

You can usually already spot a scam by looking at their website.
If it's just a generic template with some generic info, I would already be very wary.

Especially if they make big promises of profit on their website, it's usually too good to be true.

It is easy to spot a bitcoin scam. If the site that offering bitcoin is too good to be true then it is clear that it is a scam because there is no site that will offer a huge return in just a short period of time. I believe that it is better to earn bitcoin in a slowly but surely process rather than betting and risking to those kind of scam sites.

Always remember this, If it's too good to be true, then it is not true. Lots of scammers will guarantee you a %profit by just doing nothing. This is very inviting and there are still lots people fell for it. A true investment and business should be done by hardwork and that you have to do something in order to grow your profit or business. You also have to make your own calculation if it is possible or not. If it sounds unreal, then just believe that it's not real after all.

You mean to say how to spot a program which is using Bitcoin as its mode of payment or transfer of funds if it is a scam or not. When a program is promising something that is already beyond the normal lines then there is a possibility that the program is just a scam or can be a scam later. Though of course, there can be some rare exemption here because lately Bitcoin trading programs are really making good money...in case of trading make sure that the program is really into Bitcoin trading and this where it is very difficult to determine if it is or not. One thing I sway away from are programs promising fixed returns because that is really impossible for a program not to collapsed later especially if the fixed rate is quite high. Go for a trading program that will share no specific rate and will only distribute earnings according to what they earned in trading.

The whole internet is a great resource to make your due diligence. Look for complaints of scams as well as good testimonials of those who found success in the program. Right now, there are good programs which are backriding on the success of cryptocurrency but always be careful. Programs like revenue sharing, matrix system and anything that has hints of just another ponzi schemes must be avoided at all cost.

Here's a great video from Ben Perrin's BTC Sessions YouTube channel. It talks about how to identify a scam, it's really good (all of his videos are helpful and timely).

https://www.youtube.com/watch?v=mHFmp2e3luo&t=11s

Just found another one (newer) on spotting and avoiding scams and ponzis: https://www.youtube.com/watch?v=B8dSITooNQc

If you like his work he accepts tips in multiple cryptocurrencies, he provides is address codes at the end of each video.

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On a personal note, related to the ponzi side of the scams. There are very few countries in the world offering a savings interest rate of 10% per year. If you see an offer that's willing to pay you more than 10% it's almost guaranteed to be a scam. There's just no investment in the world that can create enough reliable income for someone to make money off your investment AND pay you 10% (or more). Some of these ponzis are offering percentage points per day...it sounds so great and it's quite literally so impossible.

it's easy, if it's too good to be true then stay away from it. If it offers high return with little investment, it is definitely a scam. Best thing to do is always check the website for credibility. There's google to do that.

Here are some ways to spot scams

*Malware downloads - Bitcoin is often used as "bait" to get you to download some nasty software that will mess up your computer.

*Bitcoin phishing impersonators - Impersonators run rampant on social media, and impersonating the bitcoin brand itself is a tactic that can be used to gain a victim’s trust and credibility.

*Bitcoin-flipping scams - These scams could be an offer to instantly exchange bitcoins for money after paying an initial startup fee or a promise to double your initial investment overnight.

*Bitcoin pyramid schemes - These scams are harder to recognize than the more egregious bitcoin-flipping examples described above, but the end result is the same; the scammer eventually makes off with the victim’s stolen bitcoins.

Scams are often extremely hard to spot. I have got scammed before, and almost another time even with using escrow. Thankfully it was only $12 or so... not too much. 

in my opinion to see in bitcoin is a scam or not, we can start from following an ico project :
- if the reward offered is big enough I think you should be wary of a scam.
- less reliable developers.
- description for the official website of the elusive ico project.
- rules created to follow the ico project are too difficult and unnatural, this can also be indicated that the ico project is a scam.