How to Avoid BTC Scams

October 30th, 2018

How to Avoid BTC Scams

Bitcoin is an amazing cryptographic achievement that is taking the world by storm. However this allows more BTC scams to emerge. The ability to create a new currency that cannot be duplicated makes it of enormous value. With time Bitcoin price has increase, and at present its market capitalization is around billions of dollars. People of all age groups and from different places find this digital currency valuable and appealing. Several Bitcoin Exchanges and other places are coming up which is giving easy access to digital currency users. Recent Bitcoin popularity is grabbing the attention of both good and bad.

Good ones are always in hunt to make digital currencies more beneficial for common people, whereas the bad ones are looking for loopholes to scam or hack. The bottom line is hackers are also making full use of Bitcoin to make some money but it’s through nefarious means. Hackers or scammers often target Bitcoin users who use those platforms. Recently many cases of Bitcoin fraud and scams have become more common so its important to follow all precautionary measures so that you don’t become the next victim.

Fake Bitcoin Exchanges

With the growing popularity of Bitcoin, several online Bitcoin Exchanges are coming up, but not all are safe or secure. Often you can come across links saying “Buy Bitcoins for 5% discount” or “Get free Bitcoins now!” All these are marketing tricks which grabs the attention and pull digital currency users to fake exchanges. Always check the authenticity of the Bitcoin exchange before using it. Check if it’s HTTPs and not HTTP. This will ensure that the site is secured, if its HTTP then visit the site at your own risk!

Lately so many fake Bitcoin Exchanges are coming up, so its important to be cautious when selecting trading platforms. Most of these fake sites quickly emerge and then disappear right away. and in few days will re-emerge with a different domain name and style. Always opt for genuine and reputed online exchange such as Bitcoin of America which is in the business for long time, these portals ensure you aren’t scammed.

Fake Bitcoin Wallets

Another most common way of hacking is fake digital wallets. Spotting a fake digital wallet is tougher, since these apps or tools are primarily use for storing Bitcoins. In general, fake Bitcoin wallets are all scams for malwares which infects your system to steal private keys or passwords. When selecting Bitcoin wallets trust your instinct and look for red flags. Its important to look out and make sure you don’t fall into a BTC scam. Make sure the site uses HTTPs. Check user reviews and get to know about digital wallets from popular Bitcoin communities. With so many Bitcoin wallets in the market, it’s tough to tell if a digital wallet is fake. One good option is to ask your peers if they have used it before.

If the digital wallet is downloadable, check the site for malware. There are many online sites available for checking viruses. It’s always important to be careful when you are selecting digital wallets and online exchanges. Before investing, do your own research and browse through all the options available in the market. Trusting on reliable and reputed Bitcoin operators is always safe, that’s why Bitcoin of America is so popular in the business. Do you fear getting scammed? Choose your trading platforms carefully!

This disclaimer informs readers that the views, thoughts, and opinions expressed in the text/sponsored content belong solely to the author, and not necessarily to Bitcoin of America, organization, committee or other group or individual. All investments are at your own risk and should be done after careful research.

 

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