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BitCoin Scams-How To Recognize and Avoid Them!
Published by Bernard M. — 5-1-2017 at 5:00 PM UTC
BitCoin Scams - How To Recognize and Avoid Them!
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This is probably the most important post you'll ever read concerning Bitcoin Scams/Theft!
There are currently a lot of scams/fraudalent websites/softwares popping up all over the Net, just waiting to scam you out of your hard earned Bitcoin.
Having lost a considerable amount of Bitcoins to these scam websites and buying their fake software, I feel the need to inform and warn the general public about them so you do not make the same mistakes as I did.
These scam artists know people want to get rich quick and Bitcoins are relatively new to them, so they prey on that.
The most important thing you need to know about Bitcoins is that it is irreversible(once it is send, you'll never get it back, unless the person you send it to returns it back to you - do you think a scam artist will do that?!)
Let's take a look at these scam programs and how they operate...
1. HIYP(High Investment Yield Programs), Ponzi Schemes, MLM etc.
- These programs promises you high interest rate returns(from 2%-200% on your investments) in a short period of time. Highly impossible, not even a bank can do that!
How they operate is they take money from early investors to pay you(that's the reason some people will say they got paid) and when there are no new recruits, the funds dry up and nobody gets paid. You cannot withdraw or your withdrawal stays pending forever! They do not respond to your emails and after a while they close shop and setup a new fraud site similar to the old one (see the Badbitcoinlist of websites). Now you know how they operate, avoid them!
2. Bitcoin Generators/Doublers/Triplers/Adder Software
- These softwares DO NOT WORK! Do not buy them or even accept a free download! You'll lose your money...period.
Some of these scam artist will even tell you that something is wrong on your PC(like you have an antivirus/firewall blocking it and you should retry). Don't fall for it!
- Online Bitcoin generators are now all over the Net where they claim to double/triple/tenfold(some even hundredfold!) your Bitcoins, but you must pay a miners fee first, before they release the Bitcoins.
Trust me you will receive nothing, zilch, nada... It's a scam!
Now that you know all about these scam Bitcoin programs and sites, let's take a look at how to recognize and avoid them...
1. Check if they are listed on the Badbitcoin list of websites
- Click here to visit the Badbitcoin list of websites and do a search for the name of the website or just scroll through the list.
If the site you want to invest in appears on the list, it is a scam site...avoid it!
2. Do a Google search
- Do a Google search for the website name follow by "review" or "scam", e.g cnn.com review or cnn.com scam.
If you find a lot of negative reviews and feedback, avoid the site!
3. Do a Background Check
- Go to the website and check their "About Us" page. Is their a physical address?, contact numbers? etc.
- Research the owners of the company, are they who they say they are?, check if the physical address exist, how long are they in business?
In most cases you'll find that the owners are fake, the address does not even exist or it belongs to someone else, and the business has been operating only for a couple of months! Also funny how they are all registered in the UK!
Tip: Keep in mind that a company registration number or certificate does not mean that the company is legit!
Summary : If you follow the above steps, you'll save yourself a lot of time, money, frustration and stress in dealing with these fraudsters. Don't waste your money on them!
Feel free to link to this post to get as many people informed about these scammers and fraudsters(Just copy and paste the link in address bar)
PS : If you feel that you have benefited greatly from this article, pls consider making a donation to my Bitcoin walllet to get the general public informed and Bitcoinwise!
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About Bernard M.
HOW TO GET FREE BITCOINS! Hi, my name is Bernard and I've been an internet marketer for the past 7 years. For the past 2 years I've been researching CryptoCurrencies and I can tell you Bitcoins are HUGE right now! Couple of years back you could get 1 Bitcoin for $1. Today the value of 1 Bitcoin equals almost $1000! What's even better, all the BIG companies jumped onto the bandwagon and are accepting Bitcoins as their primary source of payment. During my research I came across a number of high quality, trusted Bitcoin sites where you can claim Bitcoins for FREE! As I believe in the motto "You can get anything in LIFE if you help enough other people to get what they want" I am willing to share my success with others. Over the next couple of days we are going to claim MASS amounts of these FREE Bitcoins, steadily building up our fortune! Visit my blog to learn more... http://www.leasedadspace.com/members/infoshare007/blog?aid=infoshare007 $$$ MAKING MONEY ONLINE HAS NEVER BEEN EASIER!! $$$