Post
Topic
Board Legal
Re: What are the main Bitcoin scams and how do you protect yourself against them?
by
orions.belt19
on 22/09/2017, 04:31:32 UTC

The best way one can protect himself best from scams related to bitcoin, is to learn from experience which I have had my own share of where I needed to convert the little coins I have gotten to cash but ended up in the hads of a scammer who used delay tactics on me but I was still immature then. But now, I just don't deal with anybody anyhow. I have a list of trusted guys to help with that and even before transacting I do a lot of ground work confirming nothing has changed since our last transaction.

No need for experiences if you already have some knowledge, still the best is to know better about awareness for scams. The one thing about scams that usually being seen and they obviously does is they make deals that are so good to be true, so it is easy to notice that it was a scam, I never been scammed before and I don't need any experiences in able to avoid being one of their victim. This blog is helpful to does who doesn't have enough knowledge and information about scams, good luck and keep it up.

I don't have any experience on scams but I have been fervently reading about the different scams out there and its nature so that I may avoid it. True enough, those who have experienced it would have an upperhand because it is said that "experience is the best teacher" however it is not exactly necessary.

I've heard about ponzi schemes, HYIPs and the like that are still present up to this very day and the best way to avoid it is to watch out for the red flags. When there is a low investment with the promise of high return in a short period time, then it is likely to be a scam. Watch out for sugarcoated and fancy promises and don't let them blind you. Most scams don't look as if they are scams at first because they are made to deceive you so always be on the look out and don't let your guard down.