Disclaimer: advisory only, subject to correction/addiction/
Because of the the recent ponzi news about bitcoin, bitcoin will possibly lose a major amount of users or even getting banned by the government. This is not at all good, and those problems would even make the situation of the bitcoin worse, or the collapse of bitcoin. In order to make bitcoin better, having more anonymity, and more reliable, we should eliminate the ponzi with cryptocurrency
(possible way to avoid scam or losing your coins below). If bitcoin collapses, altcoins with it, and I'm trying to do research and create a better cryptocurrency, if bitcoin was dead, my dream would be a rubbish.
Here's some guidelines to spot a scam or prevent most of the losing; if you were scammed by the site even with the guidelines below, don't worry, if they had a privacy badge, click that and find a such link for filing a complain. No? Find some government site and send a complain to them.
Bitcoin transaction is final, no turning back, so that you may not get your money back. But at least the scam site will be blocked.1. Always choose a service with a clear system, clear identity and good standing.This seems a lot of people knew how to do, but however, take some attention.
If that service is located at your local place, go ahead individually and validate their business. Or if you do not know who they are, or their identity are not explicit (if the site doesn't provide support or contact at all, then no applying their business, than ever; they are provably a ponzi), you should always track their activities, until you think they're reliable. Cannot spot a scam? This helps :
http://www.scamdetector.info/scam-portrait.html2. Always apply their small service plans first.No matter how large of your budget was, it does not mean you could ignore the risk and just flow all of the coins to them, because their serivces have a variety of service you can choose, if you looked up their business for the first time, realize whether it is legit or scam, and the potential risk. If you think it is legit, still do not hurry with budget, and deposit with the starter first and strictly check their activity. Always login to your account and see the situation. If you are ready to apply a large plan, go ahead with special attention; especially any cryptocurrency investments. No investing that is exceed your budget.
3. For investment/trading, always withdraw the fund before you log away.To prevent the some of the unexpectedly occurred problems that would possibly lose your coins including:
- The unexpected distributed denial-of-service/hacker/virus attack, the attack may even steal the vault of the business.
- The business gone bankrupt or down for no reason or suddenly occurred(They're normally ponzi if they were not filed of bankruptcy)
- The site suddenly went down for any reason, to do anything.
- Other accidents that may result of losing coins.
After trading/investing, always withdraw complete funds to a safe places where you can freely transact with. If you could not withdraw your coins for a long time, it would be a scam. Also, every time you deposit, deposit at a small amount first and check if fund credited, rather losing a few on fees than losing on a scam. This will ensure the businesses are in good standing, and will decrease the risk from hackers.
4. Frequently contact with the business(es) you applied.To learn more about their service and their activity, keep asking questions you are puzzled with, because FAQ does not answer all of your questions you puzzled. You risk unexpected troubles with their services if you did not contact them about your question.
If no way to contact, no attempt to apply.5. Read the terms of service before starting the first step.A lot of the people did not even look at their terms of service before applying, if you are one of them, you risk getting banned from the services without granting the services you need. Stay away immediately once the terms of service shown any one of these examples, they are most likely a scam:
- We will not take responsibilities if any accident occurred by anyone. (Including itself)
- We have rights to suspend, terminate your use of our services at anytime, without issuing the refund.
- (for non-investments) We are not going to issue refund once you paid for the service.
- We have ability to change the Terms of service at anytime without prior notice.
etc.
6. Gain advice from the users.That's simple, if you didn't touch the site before, do some research from the user of the services you wanted to apply. You should always trust the users feedback, because they are mostly the experienced to that businesses, they can give you the best answers and the advise to to with that business. You should also study the skill to see the risk, especially, bitcoin - no charge backs.
7. Don't fall on HYIPs, as bitcoin is limited.A bunch of people who believed in high profitability were scammed. Please look around the site structure before investing. Also, if no deposit and withdraw proof (if they only provide return proof, look at their transaction and check if they had invested before.), no investing as it was provably a ponzi. Unless bitcoin carries out no-limit supply, otherwise all of the HYIPs in bitcoin are impossible to return your coins.
-----All in all, if you want bitcoin and all other altcoins grow well, don't create scam, or opt out from the scam if you're consumers. Bitcoin is a way to replace the conventional currency, because bitcoin is elusive, it has a majorly high of risk. If we don't create an organization to ensure good business in Bitcoin, bitcoin will collapse, and cryptocurrency will be hated.
badbitcoin.org provides free service to spot scam accurately.
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