Bitcoin scams and how to spot them

Bitcoin scams and how to spot them (Revamp)

Look, as long as there is a large enough group of people with money in their wallets, there will always be scammers.

You can blame it on the sunshine or the moonlight, but the truth remains that there are cryptocurrencies and there are cryptocurrency scammers.

Bitcoin Scams are everywhere, especially online. As you go on to maximize your crypto journey, it is essential to be aware of how Bitcoin scams work and how you can best avoid them.

Don’t worry! ValorExchange will always have your back. We have a whole team of people dedicated to ensuring that your crypto account and the cryptocurrencies within it are secure on our platform.

Join our Telegram community to stay informed about the best ways to stay safe while you learn and earn crypto. The goal of our crypto community is to ensure you get more from your cryptocurrencies.

Oh! We have so much to share with you. Also share this article with others to help them get informed as well.

3 red flags or potential Bitcoin scams to look out for.

You’ll make 10x back guaranteed: Be honest, When you started seeing “get 2x or 3x your initial investment in one month”, you were suspicious. Well, your suspicions are true, because this is exactly how bitcoin scams work. If you see ads, pages, etc. advertising that you can get 2x your initial crypto deposit in one or two months, please run far away from that platform. It is most likely a scam.

Free money: There are rumors of people receiving whatsapp messages from unknown numbers. These messages usually contain log-in details to a stranger’s account, which supposedly hold thousands of dollars. All they have to do is click a link which usually comes with the message, and all the money would be theirs.

If you see something like this, do what we said to do in the previous point.

Urgency: If the platform is almost coercing you to make an “investment” then be very careful.

Cryptocurrencies are more than just an investment. Bitcoin was created to be the currency of the free. It didn’t have a government or business entity controlling it. You can use it to send funds internationally to loved ones, fund your business ideas, and so much more.

Do you know that you can use Bitcoin to edge against inflation? We wrote all about it here.

Types of Bitcoin scams

Fake websites: There are lots of fake websites out there and it wounds us to see so many people fall victim to these shady platforms.

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Fake tweets and social media updates: Some fake social media accounts imitate celebrities and create tweets pushing false cryptocurrencies or platforms. You have to join us on Telegram, Just reading this article isn’t enough. There is so much we can’t wait to share with you.

Emails: Some scammers use fake emails to get access to people’s wallets. They would even pose as staff members of trusted platforms in order to scam people of their funds. On ValorExchange, we have a trusted support team that you can reach out to incase of any suspicious email activities. Ensuring that you have a safe crypto experience on our platform is our priority.

In conclusion

There are lots of Bitcoin scams out there and you can stay informed on the best ways to keep your crypto assets safe on ValorExchange. We hope you enjoyed reading this as much as we enjoyed sharing it. Don’t forget to share this with someone who could benefit from this information.