Be Safe while Trading in Bitcoins

[raaman]

The massive boom in Bitcoin’s price fascinated investors, businesses, and fin tech geeks everywhere. While these enthusiasts are testing the waters in their newly found world, uninvited guests known as hackers are laying traps in crypto marketplaces.

They do this through phishing and other ways you wouldn’t expect. Bitcoin’s booming adoption rate entices fraudsters whose malicious traps are often directed towards BTC traders and investors—because of this, being cautious is always a must.

Your trading safety is your top priority, so to help you better protect your money and account, you should know some of the most common Bitcoin phishing attempts and how to avoid them.

 

[Nova]

There are lot of scams going on in the name of the bitcoin faucet. A lot of bitcoin generators expect you to pay some money before they can mine for you. And that is one way for them to trap you into their system. I have seen a lot of folks doing that and they tend to make the bitcoin transactions and ends up losing the money in the due process.

Trading bitcoin in the right places is necessary. Never store your bitcoins in the web based wallet. Because that is what leads to the more or less issues with the coins. I would say that BTC will stay strong for next 5 years but we have to think of better ways to trade BTC and learn to separate the scams.

 

[Augusta]

You are so on point, with the rise in the price of bitcoin comes too with high rise of scammers, fraudsters, and btc scamming sites all in a bid to hook unsuspecting individuals to scam them of their hard-earned coins. There have been a perforation of HYIP sites promising to double or triple one's coin in just some hours or minutes. These are just lies. I have fallen a victim to one though a BTC gambling site but I'm grateful it was just a little money. But yes, everyone needs to be careful about the trading site they are using for their transaction