How do I identify Bitcoin scams and ways I can avoid falling victim?

[Bitcoin Maxi]

 Hello everyone,  just got on this platform and I have been on this space for quiet sometimes now .
I am still a Newbie and I'm still trying to get acquainted to the forum.

I have been doing a lot of reading and I just got on knowing that people also get scammed in Bitcoin in cases like fake airdrops, Walker app and crypto apps, impersonation, fake investment platforms, rugg pulls etc.

 So now I want to ask "How do I identify Bitcoin scams and ways to avoid falling victim?
Please i need your humbly contributions to this 🙏🙏. Thank you.

[Merit.s]

Only download your wallet from the official site and verify the signature.

Have a different device for only your airdrops and don't use the same device for your bitcoin wallet.

You should buy a hardware open source noncustodial wallet to store your bitcoin because it's 99% safe.

Don't click on random links sent to you to avoid clicking on phishing links.

Always check and re-check the address that you're sending funds to so that you don't send funds to the wrong address due to clipboard malware.

Avoid any giveaways, offers that are too good to be true.

As for rugged pull....avoid shitcoins and trust nobody on the internet.

[Bitcoin Maxi]

Only download your wallet from the official site and verify the signature.

Have a different device for only your airdrops and don't use the same device for your bitcoin wallet.

You should buy a hardware open source noncustodial wallet to store your bitcoin because it's 99% safe.

Don't click on random links sent to you to avoid clicking on phishing links.

Always check and re-check the address that you're sending funds to so that you don't send funds to the wrong address due to clipboard malware.

Avoid any giveaways, offers that are too good to be true.

As for rugged pull....avoid shitcoins and trust nobody on the internet.

Thank you boss . I will ensure to heed to this piece

[PostQuantumBTC]

Avoid malware
Use cold wallets

Have a different device for only your airdrops and don't use the same device for your bitcoin wallet.

It is not only about using a different device but also about being careful of phishing attacks that can be as a result of fake airdrops. There are also other airdrop scam that should completely be avoided.

[Big Dirams]

The crypto space is really a dangerous place full of scammers always trying to steal from people so safeguarding yourself is a very necessary step as a beginner because they are the most vulnerable. A lot of people have shared several useful tips on this forum so making a search here will also be helpful. Let me share a few links with you endeavor to read through them it will be helpful.

Safeguard your crypto investment and avoid getting scammed.
Common red flag to detect a scam

You might find this useful as well
 List of useful Threads!

[Ronsbit]

You should know this and have peace: "Not your keys, not your coin." This also applies to third-party exchanges as they are under the laws of the jurisdiction from which they operate from. They cannot be trusted with funds because if anything happens to them, you will not be able to access your assets, as you do not have the keys to your wallets, as they do. Sometimes, hacks and account compromise might be a thing of concern, where you would likely lose your assets since it is not under your own custody. So it is nice that you take caution by keeping your assets under your own custody so you do not lose any to a third-party exchange carelessness.

[SatoPrincess]

Quite a lot has been said on the technical side, in addition to all that’s been said, I think it is important you learn to be very skeptical in this space. Question everything and do your due diligence before you engage. If it sounds too good to be true then it’s probably a scam.

[Daniel91]

The best advice has always been this: 'If something is too good to be true, then it usually is a scam.' 
If someone promises you huge and unrealistic earnings in a short period of time, first ask yourself why they are offering it to you at all, and why they even need you and your money if they are so capable and smart at making that much money. 
It’s best to stick with established crypto companies with a good reputation, registered and under legal and regulatory supervision.

[Cookdata]

Hello everyone , just got on this platform and I have been on this space for quiet sometimes now .
I am still a Newbie and I'm still trying to get acquainted to the forum .

I have been doing a lot of reading and I just got on knowing that people also get scammed in Bitcoin in cases like fake airdrops, Walker app and crypto apps, impersonation , fake investment platforms , rugg pulls etc.

 So now I want to ask "How do I identify Bitcoin scams and ways to avoid falling victim?
Please i need your humbly contributions to this 🙏🙏. Thank you .

Bitcoin are not Altcoins, you hardly see Bitcoin airdrops.

We don't have too much scams in Bitcoin as sit were when Bitcoin was new to people, the few ones are phasing and malware, you may likely see ponzi schemes of high return on Bitcoin investment and impersonation, these are the common scams you are likely going to see with Bitcoin.

However, Altcoins are full of scammers, any kind of scams you know exist you will get it from Altcoins, you can get your wallet drain for interacting with a smart contract exploiter, teams can scam you for nothing, there a lots of fake ICO, in fact you can get scam for investing in Altcoins for example, OM Mantra crashed from $8 to $0.07 to a coin, these are the problems of Altcoins investment, interaction and conviction, you never can't tell when it will explode.

[Asuspawer09]

I guess it is just impossible to accurately identify it all since there are new method that most of the scammers are doing every time, I mean they wouldnt really going to do something that is not effective anymore, if they are scamming people using a simple ways that just means that it is working and it is effective there are probably some people that is getting scam especially newbies. The best thing that we can do in my opinion is just be updated in the cryptocurrency space that way we will know the latest methods, of the scammers or hackers how they operate things.

Ofcours the main thing is having the knowledge on how things works, if you know how the things work there was no way in my opinion that you are going to get scam especially if you are very careful and not risking what you have, If you know it you will always have the hunch that there is a possibility of it being a scam, like for example if it is just too good to be true like they are offering a huge return of 100% in just a week it is surely a fishy deal and you will know right away that it is not sustainable or it is not possible, so you know it is a scam for sure.

The forum is also a good thing since we are having most of the discussion here, just be active here in the forum, and you will gain the knowledge, also learn of other members mistake it is going to increase your chance of the falling into a scam or getting hack.

[YellowSwap]

Hello everyone , just got on this platform and I have been on this space for quiet sometimes now .
I am still a Newbie and I'm still trying to get acquainted to the forum .

I have been doing a lot of reading and I just got on knowing that people also get scammed in Bitcoin in cases like fake airdrops, Walker app and crypto apps, impersonation , fake investment platforms , rugg pulls etc.

 So now I want to ask "How do I identify Bitcoin scams and ways to avoid falling victim?
Please i need your humbly contributions to this 🙏🙏. Thank you .

Do what other newbies are not doing, asking questions first and action later, many newbies only get curious after they are hurt 🤕, ask and ask and ask again, there is never a time on this forum where members said to a newbies that you are asking too much questions.

This forum exists to support crypto beginners, never stop asking questions before making any decisions, it will safe you from a lot of jargons.

[Nathrixxx]

So now I want to ask "How do I identify Bitcoin scams and ways to avoid falling victim?

Don't create an avenue that will lead to being scammed, this is the first education and enlightenment that many don't understand, these people scamming also have to depend on us to get loose of some of the sensitive things we shouldn't have allowed them have access to, if you don't create a vulnerability, then you're mostly not going to get scammed by anyone, so we determine this by how exposed we are in terms of security measures and privacy.

[cryptoaddictchie]

So now I want to ask "How do I identify Bitcoin scams and ways to avoid falling victim?
Please i need your humbly contributions to this 🙏🙏. Thank you .

First thing is avoid listening or talking to strangers. Typically if you are into social media there will be a lots of these inquiries regarding free bitcoin or airdrops they likely to offer. Don't bother entertaining them even they got verified accounts these are just pure scammers who are trying to lure you anyway. Don't trust their verified l. Nowadays it's easy to buy someone identity and make up for it.

[Alone055]

Knowledge and common sense are the two things you need to identify scams and understand when you are being scammed. If you have knowledge, you will know what is real and what is fake, and with common knowledge combined with knowledge, you will easily be able to understand when someone is trying to scam you, because your common sense will trigger your mind that this isn't something that could happen, and you knowledge will help you confirm this thing. When you are offered something unreal from a complete stranger on Telegram, what would you think? If you lack both knowledge and common sense, you will think wow, that's a great opportunity and I'm going to become rich overnight with it. But, if you have both, you will understand that it's not real, because someone won't just find a stranger to help them get rich.

So, the most important thing is to gain as much knowledge as possible, and then be mentally prepared at all times, because your mental presence and your smartness will save you from scams and shady stuff in this industry. If you behave like you know nothing, and actually don't know anything, then your chances of getting scammed will be higher because scammers usually target vulnerable people.

[Zanab247]

Make sure you avoid the following in this forum OP:


1) Before you download any wallet from the internet, make sure you visit the wallet official site to download the wallet and you will be comfortable with the coins you are going to save in that wallet.
2)Do everything possible to avoid giveaway in the forum. Many users have been scammed through giveaway they saw on social media that makes them to exposed their personal details to scammers.
3) Don't click any how links without you verify, because there are some scammers that will try other means to scam you but no way for them, and they can come up with a new strategy to send you  scam links that will make you fall victim to them easily.

[Myleschetty]

Hello everyone , just got on this platform and I have been on this space for quiet sometimes now .
I am still a Newbie and I'm still trying to get acquainted to the forum .

I have been doing a lot of reading and I just got on knowing that people also get scammed in Bitcoin in cases like fake airdrops, Walker app and crypto apps, impersonation , fake investment platforms , rugg pulls etc.

 So now I want to ask "How do I identify Bitcoin scams and ways to avoid falling victim?
Please i need your humbly contributions to this 🙏🙏. Thank you .

If something seems too good to be true, that's the best way to spot a scam. No stranger will be so fond of you that they will divulge their money-making secrets to you. The only person you can trust is yourself; never put your trust in an unknown CEX/DEX representative. Never participate in an airdrop that demands payment or your personal information because if it does, it is no longer an airdrop but rather a way to steal from you. 99% of all genuine airdrops are given to people due to their participation on a certain platform, or holding a certain coin like BTC when a hard fork happens.

[0x000369]

Hey OP welcome to the forum you've got the right idea asking this early on because the crypto world is like the wild west full of traps waiting for newbies like us

One big thing not mentioned much yet is watch out for those fake support messages on social media or email scammers love pretending to be from big exchanges like Binance or Coinbase saying your account is locked or something and you need to click a link to fix it that's classic phishing and it'll steal your login or seed phrase in a heartbeat always go directly to the official site never click random links

Also enable 2FA everywhere and use a password manager so you're not reusing passwords that gets hacked easily

Another tip if someone's promising you free BTC or insane returns just for sending them a little first that's a total red flag run the other way no legit deal works like that

Stay safe out there and keep reading the forum it's gold for avoiding this stuff

[BitMaxz]

I think it would be much better to always ask here if that site or that person is a scam or not.
Since you are a newbie in the crypto space, you don't know yet what scammers' tactics are. You better avoid someone that asks for money or a site that asks for a deposit to withdraw the free money; that's an obvious scam. There's no free money online except for faucets where you can claim coins by solving the captcha.
Just make sure not to deal with a random person; it is always better to ask them here on the forum before dealing with someone. About phishing sites, ask the site here if it is legit or not. Anything that asks for a seed phrase is a scam attempt.
Be careful; scammers are always evolving. They can think of new ways to fool newbies.

[Emjay24]

So now I want to ask "How do I identify Bitcoin scams and ways to avoid falling victim?
Please i need your humbly contributions to this 🙏🙏. Thank you .

Bitcoin mining at no cost has ended since 2012 I believe, so any platform promising you that you can mine bitcoin on their platforms with little subscription and virtual machines rolling to represent ASIC machines is a big scam, I've seen it myself, do not connect your wallets to those kind of sites with the intention of claiming the proceeds, if you've funds in such wallets it would be drained ASAP.

Bitcoin investment is the act of buying bitcoin by yourself and holding, any platform promising you a particular ROI to stake your bitcoin for a while with them is probably a very big scam, Such bitcoin may never be recovered.

Any too good to be true offer is an obvious scam, If you are not exchanging real value for bitcoin rewards like selling your services to a client, any other pattern of acquisition is a very big scam, you need to be very careful on this crypto space.

[Felicity_Tide]

~snip

 So now I want to ask "How do I identify Bitcoin scams and ways to avoid falling victim?

You have a lesser chance of falling victim if you don't go looking for things that are a bit too catchy and unrealistic. A common issue people have with Bitcoin is as a result of their own negligence. Rug pull is often associated with other projects especially memecoins, and not necessarily with Bitcoin. People who get scammed of their Bitcoin is mostly through wallet compromise, or social engineering, where the victim is being tricked into send their own funds, or through other means that are avoidable.

The crypto space is massive, so you have to identify what you're here for, and work towards it. No scam project has the word "SCAM" written on it. With your own diligence and willingness to stay away from things that sounds too good to be true, you should be fine.