3 Common Bitcoin Scams
Scam #1 - Let Other People Trade Your Bitcoin
This is the kind of scam that made me lose $80,000!
Here is how these work:
You send them a small capital at first like $300
Then after 24 hours, they send you the promise of $450
Then you are asked to reinvest the $450
After 24 hours, now you are spoon fed lies…
I was told…
“The company changed policy and we could NOT exit the trade, so it made WAY more profit. Now you owe a 10% trader fee on the $20,000 balance in your trade account. You must pay the trader their fee to unlock your funds.”
This is the scam…
When you send the money they do not send you anything back and will spoon feed you lies.
Scam #2 - Daily or Weekly Returns on Capital
The very first bitcoin scam I got into was Bitconnect and USI Tech. These offered 1% daily returns and the ability to compound your returns.
Although Bitconnect ran for a while and worked, it got shut down hard by the government. Then USI tech just never paid out and launched a BS token to get seed capital for a fake idea.
You want to AVOID any guarantees of returns in any way.
Scam #3 - IPO Launches
Often times new coins are launched and its called an initial public offer… these coins are NOT to be touched because they are often times pump and dump coins that have no real use or value.
These are the 3 main scams I have encountered in my life.
With all of them combined, ive lost about $100,000 in total from various programs. That money was EARNED money in the markets while I did good. But the scams killed me and I was left with nothing.
6 Steps to AVOID Bitcoin Scams
Step 1. Buy and accumulate Bitcoin on well known exchange…
Step 2. NEVER send Bitcoin to anyone…
Step 3. Repeat Step 2…
Step 4. Trade your own crypto and control your money!
Step 5. Store Profits in a Hard Wallet, and never touch the wallet.
Step 6. Never COPY & PASTE Seed keys or info, type everything manually when it comes to crypto info. Because spyware will be able to pick up what you copy.
Thats it!
The moment you lose, is when you lose control of your crypto…
LESS is Wealthy…
Keep it SIMPLE!
