Bitcoin Forum

Can you suggest some precautions for beginners to avoid getting scammed ?

Good that you asked :)

- Hold your Coins
- Do not invest into sites that promise '2% Return Monthly' 'Get 15000 satoshis daily by depositing XXX BTC', these are most likely scams
- Avoid the investors-based games thread
- Try not to trade/invest in altcoins to earn BTC if you are a starter (only trade with what you can afford to lose)
- Read more on this forum (many posts are helpful)
- If you are using any service that uses your Bitcoin (i.e. BTC Wallets, Exchange Sites), do check for its reputation and security

Do not get pulled in into a ponzi, nothing is free in this world, you have to work hard if you want to 'earn' BTC. :D

There's no such thing as get big in short time except for gambling,you shouldn't trust anything who tell you that
And for technical thing like wallet,you should see the address bar on your browser to avoid getting phising,make sure it's secure and real address

Try keeping faith in honesty and hardwork. Never give out your bitcoins to any third party or individual seems any how promising to you and offering you return on your coins.
Use escrow whenever you buy/sell anything in BTC.
Don't invest your funds in any new ICO just by reading few supportive lines. Do understand project completely and evaluate how promising it is on your grounds and then go for investing.
Double check BTC address before sending funds. Avoid phishing pages.

do a lot of reading on this forum !
it is a wealth of information but you will have to filter what you read !

there are people here giving advice on coins that they like or are invested in
so do your own research before buying into anything.

and please visit this page for tips > https://bitcointalk.org/index.php?board=39.0

Also, in addition, if you are trading here on the forum with other members it is best to use escrow. Especially if you are dealing with people with bad reputation. Though it doesn't mean you will be 100% secure, but it will significantly improve your chances of not getting scammed.

Like what he just said I agreed to it, Don't try to invest for now or don't invest at all so you can be sure that you will not get scam, and yes there is a lot of promise in trading but try to avoid it for now if you are only starting, and just let hold of your bitcoin because it is still increasing, and stick to signature campaign for now if you are accumulating your earning for now and try to read the do's and don'ts of every campaign to avoid getting kick from it.

Never do trades without an escrow.Avoid trading with newbies as most scammers use newbie accounts to scam people.Don't trade with people who have red tag or negative trust.Even if the escrow fee goes 1% or 2%,just use escrow so that your money would be safe.

I found this to be very helpful information. I am slightly new to btc and have just began taking it as a form of payment. I am a web designer and am happy to have many options for my clients. Thank you for the post!

For me if you are a newbie you will always encounter this kind of situation you'll always be targeted by scammers so better to knlw who you're dealing with.. You can't avoid this kind of matters you'll always find one who targeting you for me as a newbie it's better to experience being scam because experience brings out the best of you just educate yourself to be more knowledgeable to this kind of field to avoid scammers

Well what's for sure is Don't trust something easily. Never believe if they offer you something big, like 2x return, 100% interest and others.
Always check everything to make sure the investment is not a scam. Maybe you can ask first to the seniors here before putting your money there.
If it's a website, check first whether it's famous and trusted already or not. Maybe you can even read review or the testimoni? But make sure it's real, not fake.
That's all i can say, just remember again, don't trust easily.

We just need to be wise in all our transactions to avoid any problems. Just be wise and patient. Thats all we need. There will be many scammers there better to be wise and avoid them.

-Don't use escrow sites, they're not very accountable for your actions.  Use a forum escrow, and check their recent trust.  Always make sure that the escrow talks to you directly and verify that you are sending to their public address (always verify their signature).

-Don't trade with other newbies.  Just don't do it.

-Don't deal with PayPal or other reversible money transfer systems.

-Don't trade altcoins unless you've done thorough research on the development team, why the coin needs to exist and other information, otherwise you're practically gambling and you're getting played by whales.

Good advice! Though I would temper the advice about altcoins with a suggestion to diversify and not hold a single cryptocurrency, not even bitcoin. But research each cryptocurrency you buy and be able to write down why you are buying it (if it is just a feeling, don't buy.) And be aware that as volatile as bitcoin is, pretty much all other cryptocurrencies are even worse.

When it comes to online investment don't trust any of the so-called High Yield Investment Programs or HYIPs because they are not really a company that gives you high yields they are fake sites that will only run away your money, regardless of how early or how many you recruit it will always end up with someone losing their money because the possibility of this sites running away are high.

Just be observant and wise. Just think twice before you decide. It will be a big money involved so better to take care in every transactions that you are making. It is a money talk be careful everyone change when it comes to money.

If you're looking into ICO's, then these guys seems to do their due diligence:
https://www.icocountdown.com

I think almost everyone here has been victimized by the so called HYIP. I myself when I was started fall for it. So stay away from this kind of investment. I think if you are going to trade with someone here, use escrow to be safe as well. Read a lot on this forum, and understand those ICO's/Crowsale going before investing also.

Common sense and trust your guts. If you feel like engaging in a suspicious transaction, then better not to push through it. You need to be careful since there are lots of scams in the internet now.

Don't let greed overpower common sense.

When you want to invest you need to think smart, do not invest in a site that offered a big return in a short time, if it offered more than 10% then you need to be aware, always check the site reputation no matter what people said, you need to check by yourself, if you are not sure about anything you can ask people opinion in this forum and see how the user review

Make your passwords confidential,
Be consistent,don't just make unverified trading and transactions.(be sure it is genuine)
Reading other people's post will do a lot in guiding you.
That's just my advice for now

Do not trust get rich quick programs, do not register at untrusted website that keep your bitcoin or altcoin

my advice would be...

#1- do not engage in all these "double your bitcoin schemes" all around the corner

#2- instead engage in cryptocurrency Trading and you will be able to do so much with the bitcoin you have and even tripple your Bitcoin in a matter of days

#3- cryptocurrency Trading offers you good experience that will make you more versatile and grounded in cryptocurrency  matters....


I hope my little points were helpful



Posted From bitcointalk.org Android App

First, read most of the time in bitcointalk forum, then don't hesitate to ask any of the member in thw forum here because
most of the members are very accomodating to response to your question.

One every sure way to stay out of scam is not to get greedy by either willing to sell at a deal too good to be real or willing to make instant money within few number of days. It won't work. Another way is to not to be too rash in taking a decision, take your time and re-think over it again and again before going for it and the moment you have doubt about anything, just listen to hour guts and go over it till you are sure. Its better to be safe than being sorry.

BTC To start bitcoins always checked , research don't invest in company promise you give 100% monthly income, that's a ponsi scheme
earning bitcoins is not to easy. since you are a newbie knowledge and always ask,your mentor /friend when someone offer you a investment with profitable income. godluck brother to you success Singwala Butawtong

Reading reviews is one of the nice things about this forum. Most people that have an issue with any type of Bitcoin transaction or Bitcoin related situation has a bunch of people posting in a thread stating what they experienced with the similar issue that the OP’s posted. Feedback is #1.

When in the starting I entered in this field then at time no one exchange were available to make buy and sell Bitcoin (since LBC was but was complicated to do work ) so we needed to make deals directly P2P and sometimes results into loss because of scammers .
But in the current time we have better better playground to make buy and sell of Bitcoin instantly without more problems and also we have a lots of data in the Google to learn and  study about everything .
So in the current time chances of scam are very less .
But still here I will suggest to every friends about the Bitcoin and altcoins trading ( main source of earning) Don't get blind to buy or sell your Bitcoin  or altcoin , always buy anything at the advance order and don't sell due to fall of the price , because here you are only to make profit , so only sell when you feels that you are in the profit  .
In this way everyone can grow without loss and scam with trading system of fear to loss .

For the transaction related issue, they have check the Technical support section likely, they can understand transaction delay, unconfirmed transaction and etc... For newbies involves in trading, I use to say that please keep any escrow person in all of your trade. They will help both parties to hold the fund and your transaction will be safe.

this advice is really good for new people so they can avoid to get scammed by other investment programs or else. making bitcoin in crypto currency is really difficult and we need to be careful when we want to join in one programs. its better to hold bitcoin in our wallet than we used to join into other programs that have a chance to scammed us and in the end, we are getting sad because our bitcoin is disappear. so before we make decision to join, we need to read everything about the programs.

You can always spot this get-rich-scams. They are offering high return without even doing like in HYIP, by giving daily percentage, big interests, etc. When it is promising too much of returns, think twice in investing. It might last long, and even before you can withdraw your earnings they are gone.

One big suggestion is to don't use just one exchange. Don't put all your money in one exchange. Sign up for all exchanges and use app like TabTrader to connect them all.

Try to be informed about trading and google about the coin, forum, or reviews relating to what you're interested in. Most people have been scammed at some point so good luck.

Yeah, get rich scams were the one that easily traps the beginners. While hearing about bitcoin and it's value for the first time everyone has the mentality of being rich through it in a short. The difficulty will be realized only after being a user. Using this an opportunity there are lots and lots of scams and HYIP that easily change the mind.

yeah as they captured mindset of some people who has been attracted to this easy investment platform such as mining and investing to trading those are the common practice they just let you believe that all you have to do is to place your money and wait no need to do anything.

Since Op asked about avoid scammed in trading thread, so it's about precautions in trading, right?
I think all the answers above pretty good and detail for newbies to understand how to avoid trouble.
I would suggest to use some trusted trading sites such as Poloniex or bittrex for the start.

Most a time you only find yourself being scammed as a result of your one's personal greed or an act of being despirate of getting rich quick.
Stay away from sites that promise high return on your investment for what that interest them is your own deposits .
Lastly, there's need for you to seek other people's opinion on what ever investment you want to put in your money to know whether is genuine or not before you invest your capital.

The best precautions or tips for beginners to avoid getting scammed would be by reading more here at bitcointalk, you can actually learn a lot from here. Plus always trust your instincts and go over the beginners section first.

Really a superb advise is given by you and I am totally agree with your points. Before investment be sure about the site that you are gonna take Bitcoin from and be sure that the trading process is under a huge company. And it is a well-known company. Never tell your key pass to anyone you need to be smart and positive thinker before using it.

Avoid joining those double your bitcoin programs and Hyip's (high yield investment programs). Do not join those people telling that they will trade for you and double your bitcoin in days or weeks you will likely be scam by those people as i see many people posting it from bitcoin groups. Do some research or ask here. 

I agree. If something is too good to be true, its more likely a scam. Hyips have a way to attract people who prefer easy money but if you want to try your luck there, reasearch. Look for facebook pages, scan through comments,threads and discussions. It's better to be safe than sorry. That's coming from someone who got scammed by joining a hyip and learned a bitter lesson

For my suggestion, avoid HYIP and shitcoins then start investing altcoins which has a strong support and has a good repuation so that you'll never get scammed in your investment. Don't look for easy money, everything is not taken for granted thus we should be more strategic if we want to earn more.

Well... You must choose altcoins that has good reputation,it can survive for long time.
 Also the altcoins has big capitalization can be checked on coinmarketcap.com
Making invest in new altcoins is high risk losing due to the new altcoins can be scam in the future.

This is the best answer for the beginners. You are correct to hold your btc and invest it in to your wallet. Trading is a difficult job. You can't be sure that you will earn a big money if you enter the world of trading. Trading is has a high risk so trading is unpredictable job.

Being smart is the key always. Not just beginners, even experienced people do get scammed some times just due to the reason of not being smart. Being smart could be confirmed by carefully choosing established institutions for any requirements like exchanges/investments opportunities/gambling sites or it can be anything. When we are choosing right options after many thorough researches, the chances to get scammed will get minimized significantly.

Yes this is true. Try to avoid hyip it may be good in our eyes but somehow it can deceive us.  They will tell you that you will earn more than you have been invested but the real thing is, they only fool you they only want the referral bonos that they will get once you have been invested some money. Be wise and be a keen observer too.

I think you must never invest your funds on hyip and Ponzi website, it will be scam service in the ending, the investors never get back their money, if you want makes transaction on here always use escrow service that can be trusted with the sign many positive reviews from another users, i hope it will help you to avoid from scamers.

Yes if you have bad luck you may be an experienced or newbie you will lose money, Scammers will cheat you. So be smart in your work never trust anyone easily. Do research how much you can possible and use the site to do trading. The scammers will make you tempt to providing some huge promotions offers. Don't get excited for that type of offers. If you have confidence then only you move your step or else step back from that work.

The avoid getting scammed, use escrows, don't invest in HYIP, and always check the review of a certain investment. If that investment has a small problem, don't continue investing through that since it could scam you.

You need first to study all about tradings. There is high risk  in the trading world. Before you invest you must focus to the cryptocurrency world. You must be smart and really intelligent before you enter the trading world.

I agree with you . Investing in HYIP and PONZI is a big mistake. We can lose all the money we have. But there are some jobs that are also high risk, for example is gambling. So I think a beginner should be able to avoid everything that has a high risk. with a small capital you can become discouraged and left bitcoin forever.

Just like real money - we really need to be careful with our btc.
Be careful of those fake bitcoin exchanges Often on social media you’ll see a link saying something like “Buy bitcoin for 5% under market value. Save big!” This is a marketing trick to get you to visit and use their fake exchange.
If you visit any exchange site the very first thing you want to do is make sure it’s HTTPS secured and not HTTP. This means that the web traffic is encrypted and secured; if it’s just HTTP without the “S” that is a big red flag and means stay away.
Another red flag to look out for are fake exchanges that offer selling Bitcoin for PayPal. On these sites you’ll see a web form to enter your PayPal email and amount to sell. After submitting, you will be presented with a QR code to send your bitcoin to. But the money never arrives. Also, be cautious with those fake bitcoin wallet - Just like with fake Bitcoin exchange sites, you should trust your instincts and look for red flags. Does the wallet site use HTTPS? Is the name of the wallet site trying to resemble another reputable Bitcoin wallet by impersonating it? Outside of the obvious, it may be hard to tell if a wallet is fake. A good practice is to ask your peers if someone has used the wallet before.

As everyone above has mentioned, do not believe in anything such as HYIPs, Ponzi sites EVER.
It's a big fat mistakes. Everything has its own risk, but don't do it if you don't feel confident doing it.
Ask around first or look for more information related to it.

When its too good to be true. It's totally scam.
So you better watch out who you dealing with
but before that equip yourself with enough knowledge because its not that easy to earn coins just to be scammed.
Be wise, smart and vigilant when you're dealing in anything.