Because of the increase in the financial leverage of Bitcoin and cryptocurrency a lot of fraudster are budding under the umbrella of Bitcoin and cryptocurrency to scammer people especially those who are not much grounded and knowledgeable of Bitcoin and cryptocurrency like me. Instance, some fraudster will send you a link through WhatsApp, Facebook and other social media telling you to click the link to register for cryptocurrency and Bitcoin with hope of making much money from the link but immediately you click the link they will access to all your information and then use hack your account and be using it for their fraudulence activities or better still scammer the you.
So if I may ask, how can we identify this kind of fraudsters?
These are just rebranded websites that will waste your time. Back then, it use to be an investment website where you can earn dollars when some of these scammers know nothing about Bitcoin or understand how it works but since Bitcoin adoption has increased, even the scammers has improvised and what they do now is to design a website and gives investment package for people to invest their Bitcoin and get a high ROI in return and we know that's a big fat lie, there is nothing as Bitcoin investment by sending Bitcoin to another person.
How do we combat all this for people:
Education: People should get good education about Bitcoin, the security and some technical aspect of Bitcoin, it will help them to fight scans and identify one when they see them. They don't need to wait to be told about Bitcoin scams, as soon as they see one, they will identify it.
Buy Bitcoin: Some people don't even understand how Bitcoin looks like in a wallet and don't know how to buy, sell and even send, they should buy and see how it looks like and it feels to own a Bitcoin instead of just hearing and don't have no experience of holding it.