Topic: Rules to avoid being scammed - page 5. (Read 5928 times)
great advice and im glad you added in the part about paypal chargeback, that's a very common scam from what i have heard
this one dude i saw on the internet said that for sure he's good for it and he'd never scam. do you think he's legit?
Never accepted any mining contract. It's nearly impossible to control how much coins are received, costs, etc., it's gambling with your money.
Yes good rules and people should be more careful, including me.
Thanks for the lookout
1) Don't just trust the status of a member, anyone can write 500 posts and be a hero member in a short period. This just means that he invested some time on his membership. He can always decide that a profitable scam will be a good payment for his time.
2) Never deal with anyone without doing a search in the forum with his nickname, in order to check if he has scam accusations.
3) Ask for his coin address and always search it on blockchain.info or www.cryptocoinexplorer.com to verify if his address has the amounts he is claiming.
4) Be very suspicious about proposals well under market price or if he accepts your proposal under market price with no negotiation.
5) Look for the reputation of the member (his successful trades, in the form of vouches from the other party on the deal).
6) Even if he has some reputation, never send all the money in one transfer: send one first very small tranche (0.1 btc might be a good start) and wait for his payment. Send a second little higher tranche and wait again, etc. Small increments, because he might decide to pay you the first and second, to scam a bigger tranche. Always suspect if he doesn't accept to trade in small tranches.
7) If he has no reputation (including most cases when he is a newbie or a Jr.), even small tranches are a risk. Better use an escrow system, like the one of bitmit.net, or a trusted member, or you might need to send over 10 very small tranches. It can be annoying, but loosing your money will be more.
8] For big amounts always use an escrow system, unless the member has an excellent reputation.
2) Never deal with anyone without doing a search in the forum with his nickname, in order to check if he has scam accusations.
3) Ask for his coin address and always search it on blockchain.info or www.cryptocoinexplorer.com to verify if his address has the amounts he is claiming.
4) Be very suspicious about proposals well under market price or if he accepts your proposal under market price with no negotiation.
5) Look for the reputation of the member (his successful trades, in the form of vouches from the other party on the deal).
6) Even if he has some reputation, never send all the money in one transfer: send one first very small tranche (0.1 btc might be a good start) and wait for his payment. Send a second little higher tranche and wait again, etc. Small increments, because he might decide to pay you the first and second, to scam a bigger tranche. Always suspect if he doesn't accept to trade in small tranches.
7) If he has no reputation (including most cases when he is a newbie or a Jr.), even small tranches are a risk. Better use an escrow system, like the one of bitmit.net, or a trusted member, or you might need to send over 10 very small tranches. It can be annoying, but loosing your money will be more.
8] For big amounts always use an escrow system, unless the member has an excellent reputation.
This should be in the introduction where new people sign up! Just my .02
Just think--one day this will all be common sense!
Thanks for the great list to start out - and actually review every so often as you go along.
Any experience with any of the Mining contracts out there? I'm seeing that as a potential for a huge scam since you never see what's really going on behind the scenes.
Any experience with any of the Mining contracts out there? I'm seeing that as a potential for a huge scam since you never see what's really going on behind the scenes.
great advice
Thanks for the advice as a noobie myself this is very informative.
I find the bitmit escrow service a fantastic idea
I find the bitmit escrow service a fantastic idea
Very good guide, needs to be a sticky.
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Bitmit even though takes small fees every time you sell a item, is the safest option I have came across, unless you use escrow of course, but bitmit uses escrow and makes it a lot simpler for a casual trader.
I have been trading on bitmit.net since 2012 and have NEVER had a problem, never.
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Bitmit even though takes small fees every time you sell a item, is the safest option I have came across, unless you use escrow of course, but bitmit uses escrow and makes it a lot simpler for a casual trader.
I have been trading on bitmit.net since 2012 and have NEVER had a problem, never.
Thanks for the helpful info.
Bitmit.net is now very big. I can't exclude the possibility of a scam from them, but it's remote. Much more remote than the possibility of being scammed here. They are earning a lot. And most sellers don't leave the money there, so they might have smaller quantities of bitcoins on their system than one thinks. Even a small exchange has much more.
I have no relation with them, just used their system a few times and worked.
But there are alternatives, like http://btcrow.com/ and this one is cheaper (1% fee). But I never used them.
I have no relation with them, just used their system a few times and worked.
But there are alternatives, like http://btcrow.com/ and this one is cheaper (1% fee). But I never used them.
that escrow site seems to be a useful idea, fee also isnt too high. Thanks a lot
And when the website will deal with 5k+ btc, the owner will leave with all the money
that escrow site seems to be a useful idea, fee also isnt too high. Thanks a lot
1) never deal with anyone in the forum.
should be enough.
Even if you use an escrow, you have no proof that he will do what he is supposed to do ...
should be enough.
Even if you use an escrow, you have no proof that he will do what he is supposed to do ...
Newbies, better read this.
Avoid using paypal to sell alt coins, because the buyer can always chargeback (https://bitcointalksearch.org/topic/beware-of-paypal-and-other-reversible-transfer-services-14632). As stated, they won't accept the transaction id because it's against Paypal's TOS to use them to trade currency. Therefore, they like to teach lessons to sellers of alt currency and end up supporting scammers that buy them. But since alt coins are digital currency, any deal won't also be protected by their buyer protection system.
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Cool, so they use the transaction ID's of the Bitcoin thing to check if you sent or not.
While on the topic of how to avoid being scammed. Submitting a link to the transaction ID to PayPal, if you do use them, is not evidence of anything to them. I know many who were burned because they thought this would be enough proof.
No it can't be faked. I posted more details.
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