Bitcoin scams on the internetYou might be one of those people who are still new or just interested in using bitcoin or maybe even a Pro in the bitcoin business, you still need to be aware of the several bitcoin scams and high risk programs that are running on the internet.

Even professionals fall for them and loose once in a while, are even worse if you are a beginner because some of the websites might be tempting. Some might say experience is the best teacher and you need to take risks in order to succeed, Well that’s true. But you would rather jump on an opportunity that has a 80% chance of success than the 20% chance of success. Right? So what are most the common bitcoin scams you should be aware of and how do you avoid being scammed by those so called “I think I’m smart wizkid”. bitcoin scams

Dont be a victim of a scam, Know how to pick a bitcoin scam

Bitcoin Investment Scams

Bitcoin investment scams are all over the internet. This type of scam came in different ways the most common scams you will find are “Double your bitcoins in certain number of hours” or Deposit X amount of bitcoins and get XX percent per hour or day in return. These are high flying investment programs and you should be able to pick it by looking at the number of percentages they promise you in return. This types of program usually last for a couple of weeks or months. But is usually less than six months. Cloud mining is an investment just like the above and cloud mining sites are no doubt on top of the list and are high risk. bitcoin scams

Seeing that bitcoin is hard to mine some people rather take that advantage and mine them from individuals who already have some bitcoins in their wallets. Since bitcoin mining is a bit costly to start cloud mining makes it easier for most people to earn some bitcoins by purchasing hash power from the real mining companies. Picking this type of companies can be hard at times since some bitcoin mining companies give people an option to buy mining equipment and connect to the nodes and get a share of what the company is earning. So you need the skill to select a legit cloud mining company. The returns should be reasonable enough so that the risk can be minimal. Usually if a company promises more than 2% a day or hour that’s not a company you should go for. bitcoin scams

Peer-to-peer programs

Yep the so called community programs you come across on the internet or some people promoting to you promising a certain amount of percent in return including referral commission, it might just be a one hell of a scam. Bitcoin is a the master of peer to peer transactions, so you find people opening multiple bitcoin wallets and launching a well-designed website and designing T-shirt and flyers just to make it look professional, only to find that is a just a team working together to scam one their pockets are full they disappear in thin air. bitcoin scams

This type of system use crowd funding, the same way banks do it to process loads even though banks would dispute it. But on peer-to-peer programs or communities there’s no middle man, the transactions take place between the members of that particular program.

It is possible to start a legit program like this, it just need people has morals So can you see how simple it is to start one? Which is why some people take advantage of bitcoin and use it to enrich them self through this type of programs? So yes, Peer-to-peer programs get on the list as well.

Revenue Shares

Rev Shares are a good way to make money on the internet. There are a lot of good rev shares out there and if you pick right, you could make some good money for yourself, but it does not mean there are no scams in this type of business. There are high flying program rev share sites designed to scam you, so always need to learn the basics of the business. Since bitcoin is a good payment processor, rev shares have also adopted it to process payments. So yes you will come across a lot of fake rev shares on the internet but there are some legit rev shares as well.

PTC and Faucets websites

Paid-to-click and faucets are the basic way of collecting bitcoins. You are going to come across a lot of this when searching for ways to earn bitcoins faucets are a good way to start collecting free bitcoins but not all of them are legit. Some of them are just there to waste your time. You could find yourself spending hours on some of the PTC or faucets who don’t pay, then you realized you’ve wasted a lot of time. This happens to most people who try to earn bitcoins. bitcoin scams

Online Games

If you like playing games online then you have to options of losing your money or bitcoins either through fare play or just get scammed for depositing you’re bitcoins. There are fare games you will come across, yet there are scammers who pretend to be legit game creators who are just there waiting for you to deposit your bitcoins and just vanish with them. So there you go, you can choose which side of bitcoin you would to go, each side you choose there’s a scammer waiting for you, you should keep that in mind. bitcoin scams

Make sure you get all the required skills to earn bitcoins on the internet because without those basic skills, you are sure to be a victim of any of this scams. You often hear people saying a particular program or website has collapsed, that’s not often to my opinion, that program was designed to scam you and just disappear.


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