Bitcoin is a cryptocurrency (in other word its DIGITAL currency) widely in use and very costly.Its value is not fixed by any government or central bank but rather it is determined by software. This software is understand by very few people in world.
Because few know how bitcoin really works, there have been endless opportunities for chicanery and social media have provided solid base for advertisements to such frauds.
Some people investing in bitcoin assumes that its value will always go up (Due to some past experience) and they will always benefited with this. But persons having knowledge knows that this currency is very volatile.
According to an article i have recently seen there is considerable DARK SIDE of bitcoin.Here are some ways to spot scams.
Bitcoin is often used as a bait to get you download some malicious software and harm your computer in every possible way.We also discovered that fake bitcoin surveys are often used to distribute malware, and we advise caution when encountering any social media URL that is either shortened or not secured with an HTTPS connection."
In these ethically grey schemes, a low initial investment can be multiplied by signing up additional members using referral links. Before long, hundreds of victims have joined the scheme. At a later point in time, the original scammer walks away and the pyramid collapses."
Other then that Bitcoin is mostly used for DEEP WEB and DARK WEB . I will share my new post about deep web and dark web for those who don't know that internet have dark side. Bitcoin due to its higher values used in illegal activities. As governments no track record of money transfer this is most reliable method for criminals.
HOW TO PROTECT YOURSELF:
- Don't trust anyone claiming that they will give you or help you with bit coin mining.
- Avoid unnecessary URL on social media for several bitcoin offers.
- Be vigilant with bitcoin brokers.
- Get proper knowledge if you are willing to invest in bitcoin.Read as much as you can before taking this step.
If you have faced scam then complaint this to FBI's Internet Crime Complaint Center. But do not expect to see your bitcoin again.
"STAY AWARE & STAY SAFE"
Source: https://steemit.com/cryptocurrency/@hmax/bitcoin-scams
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Thank You!
There are definitely part of this post that were plagiarized, but what is written by himself is so badly written with so many mistakes. I hate it to see such crap...
thank you for the heads up because I'm really new to this cryptocurrency. anytime you have a really good thing going on. There always seems to be a dark side too it.
yeah. as u said there always have dark side. But as its prices are going up people rushing to it and invest in that. I have upvoted your comments as its best i got on this post. Keep in touch buddy...
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STOPthank you for the useful information.
my pleaseure. I have upvoted your recent post ( Unforgettable vacation in the old town of Jaffa ). lets get connected by following each other. so that we both get benefits in our future posts.
upvote done
thanks brother. I will keep upvoting your future post.
well there you go we could help each other like this
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sure. I am not interested in investing in that right now but if want in future then will visit that link.