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Bitcoin has over the years become a symbol of financial freedom, any one with a substantial amount of bitcoin can earn money by investing it.
Though bitcoin is widely popular a lot of people still don't know what it is all about, some people who even have bitcoins don't even know how to go about investing it.
That is where scammers come in, they are hinging on the ignorance of people to dupe them
I came across Coin Generator from an ad i saw online even before clicking the Ad i knew it was a scam and the only reason i was visiting the site is to get the information on it so as to warn people who are inexperienced with investing crypto currency to steer clear of it.
On the site they claim that all you have to do is to input your bitcoin wallet address and the site will generate Huge amounts of bitcoins for you, which is a huge lie.
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The only places where you can get bitcoins for free are from online Faucets like MOON BITCOIN AND FREE BITCOINand the bitcoins you get from this site are always the smallest unit( Satoshi), what i mostly generate from this sites are my transaction fees that i use in doing bitcoin transactions
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After your bitcoins have been generated on the site, you will be required to pay a miners fee before your bitcoins are sent. This is a lie, in all of my bitcoin transactions the fees are always subtracted from the amount sent to my wallet so there is no need to send my coins to the sending wallet.
There is a similar review i did last week about another scam site BITGRABBER, You can also check that out.
Thanks for Reading
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Great, very informative.
Thanks for reading @thereceptionist.
Please help spread the word
It's amazing how people rip off others.. due diligence is required always!!!
Most people who are new to crypto-currency does not know how these things work, we have to continually create awareness @hellogelt83
Totally Agree!!! 👍
Thanks for pointing this one out!
The world of crypto is exciting but you can never be to safe! For sure don't fall for these type of scams though. Always take extra measures to protect your coin.
Thanks for great info. Definitely much to learn, if one does not want to be fleeced. So very complex at times.
Thanks for reading @ddschteinn
One time i tried a site like site, i was sure it' was a sort of ponzi scheme and it was really new website. So i tried, ATM the price of BTC was like 300$ i sent 0.08 BTC an choose the option X10 so it take 48Hours to have my BTC Back and it WORKED ! immediatly i retry the same with 0.4 BTC with no succes this time. My BTC are in their pocket but i won 0.32BTC, not a bad transaction p)
Hello @hanjo42
You are very lucky, ponzi schemes with cash are very ephemeral talk less of crypto.
People when tempted with this kind of things try it with little sums of Money and when they get returns they invest a larger sum which is lost at the end.
@ogochukwu
Thank you for sharing this. :)
Oh so nice infromation!
great review