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

[ndutndut]

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 .

In my opinion, the first step in recognizing fraud in the crypto world is gaining knowledge and reading extensively to broaden your understanding of Bitcoin. Fraud and phishing are rife in the crypto world. One case emerges today, and the next day, another fraudster will encounter a different approach. So, with extensive knowledge and frequent reading, you'll naturally be able to identify whether it's a scam or not.

Why do I say that knowledge and frequent reading are the first steps in identifying fraud? Because you can't even differentiate between Bitcoin and altcoins. If you could, you'd know that Bitcoin has never had an airdrop, as airdrops only exist for altcoins. There may have been Bitcoin airdrops in the past, like faucets and so on, but those are no longer the case. So in my opinion, to avoid fraud you must increase your knowledge of crypto, especially Bitcoin.

[Rikafip]

Its fairly simple: if something sounds too good to be true, its a scam. As simple as that.

Many newbies got scammed by thinking bitcoin is magic money where everything is possible (like unrealistically high ROI) but same principle should be applied as if handling for example the fiat money,

[Patikno]

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 .

Skepticism is the key, and it is what everyone needs to avoid scams or become a victim. Skepticism needs to be instilled in your mindset, and you need it in every activity. For example, if you want to download a particular application, you will be skeptical and cautious about it, so you will check several reviews from trusted sources before trying it. Or you will feel wary when you receive a "very tempting" message, usually from an email, social media, or something else. Essentially, you must be skeptical, especially in any activity in the crypto world, which carries the risk of losing your valuable assets if you are careless, or not careful. Therefore, stay vigilant, and skeptical of any information you encounter, don't be easily tempted, and don't act rashly.

[Oshio-man]

Its fairly simple: if something sounds too good to be true, its a scam. As simple as that.

Many newbies got scammed by thinking bitcoin is magic money where everything is possible (like unrealistically high ROI) but same principle should be applied as if handling for example the fiat money,

That is true, and you have to stop following the user because the more you are following him the more he will be bringing fake evidence that will make you to fall victim to scam, Your research about anything scammer will refer you to should be your guide because through your research you can identify whether they are scammer or not because they have different strategies they are using to operate to convince users because some of them need quick funds that will make them wealthy, there is no magic in bitcoin, just make sure you prepare your capital to buy bitcoin, and it will be difficult for scammers to play game with your holding because you know when to trade to achieve success.

[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 .

Skepticism is the key, and it is what everyone needs to avoid scams or become a victim. Skepticism needs to be instilled in your mindset, and you need it in every activity.

It's true that exercising skepticism can help you spot Bitcoin scams. Eccentricity is something else that, in my opinion, should be added to skepticism. This will enable one to think creatively and ask themselves some strange questions which will help figure out the scam. One thing is certain, though: offering an opportunity that seems too good to be true is a common feature of all Bitcoin and cryptocurrency scams.

[amihada]

When you want to invest or get involved with Bitcoin or other Altcoins, it is necessary to instill the principle of caution because it is very important to avoid or get caught up in the euphoria of big profits without understanding the risks behind all the tempting offers. It's important to always be vigilant and not get caught up in sweet promises of fantastic returns, so understand the mechanism first to avoid major losses. Always identify every private message that comes through Email, Telegram and various other social media, never visit any links attached to the message because it is most likely a fishing link.

[moneystery]

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 .

Most newbies fall victim to scams when they trust messages online or in their emails without verifying or doing further research. They randomly click on links in these messages, simply tempted by the promise of prizes or instant profits that seem too good to be true, or by someone trying to lure them in with a narrative that exploits their fear or desire to help. These kinds of messages often deceive newbies, and they are easily swayed by them due to their carelessness.

So you shouldn't trust anything in your message too much, you should first verify the truth and avoid clicking on suspicious links, because you just won't know what's really waiting, there could be malware targeting your sensitive data and making you lose all your Bitcoins.

[Publictalk792]

When you want to invest or get involved with Bitcoin or other Altcoins, it is necessary to instill the principle of caution because it is very important to avoid or get caught up in the euphoria of big profits without understanding the risks behind all the tempting offers. It's important to always be vigilant and not get caught up in sweet promises of fantastic returns, so understand the mechanism first to avoid major losses. Always identify every private message that comes through Email, Telegram and various other social media, never visit any links attached to the message because it is most likely a fishing link.

In my point of view it is great advice that covers two most important parts of crypto safety. Money safety and strong internet security. You are correct that individuals should be careful and learn how technology works at first in order not to be blinded by excitement of huge profits and become victims of scams, which is much better to following sweet promises. Most effective method of staying safe is to never believe any personal messages in email or social media and never click links in such messages, as they are likely to be phishing tries that try to steal your personal information or access to your wallet.

[RockBell]

Its fairly simple: if something sounds too good to be true, its a scam. As simple as that.

Many newbies got scammed by thinking bitcoin is magic money where everything is possible (like unrealistically high ROI) but same principle should be applied as if handling for example the fiat money,

It is good to know things like because a lot of things are easily to discover, because when some things are presented you can easily know if they are scam or not, and you see a lot of them in telegram texting people about investment that are not even real, when people come across things like this the best thing they can. Do is to block them, to aviod any further conversation, given them audience, it will now look as if you are interested so better still just aviod any further conversation and you done with that.

And a lot of people are getting scammed and they would have should have thing like this, but they want to make quick money, and that is why they are falling victim, so they need to change there mindset and that is the only way they can even fight against this, and this season all because of greed.

[Pieq]

Store your coins:
- Use a secure and trusted wallet, preferably open source. Choose your wallet

- Consider an offline or air-gapped setup.

Buy coins:
- If you use an exchange to buy Bitcoin, choose a reliable one, not some random website that no one has ever heard of.
Coinbase, Binance, Kraken...

- If you buy your coins from P2P platforms, buy from known sellers or use an escrow.

- If you use Bitcoin ATMS, be aware of the high fees.

Form the habit of verifying signatures, hashes.
Don't lose or share your keys.
Use common sense, if you don't trust yourself on the internet regarding malware or any type of attacks, a hardware wallet will facilitate your life.
Try and keep up with common scams/malware, here's a small list:

• Phishing
• Fake Airdrops
• Impersonation scams
• Investments
• Seed Phrase Scam
• All malware. Spyware, keyloggers, RATs, Clipboard hijacking.. You get it.

Rug pulls don't apply to Bitcoin, but can happen with shitcoins, so don't buy those.
"If something sounds too good to be true, it probably is".

Anyway, you can't cover everything in a single list, nor is it necessary to.
There will always be new scams, new tricks to get you.
Double check everything, ask yourself if it makes sense, don't rush into anything, and you'll probably be fine.

Stay safe out there

[jcojci]

If you see an ad saying that you can increase your Bitcoin amount by investing in their program, that will be a sign of a scam. Don't tell others about your Bitcoin so you can avoid scam investments or look like scammy interesting offers. The important thing is not to panic when you get information but always verify to make sure it's real or fake.

Keep Bitcoin in your own wallet which you download from Bitcoin official website. Don't tempt with interesting promos, offers or ads. No free lunch so you must always be careful.

[Thomas scholes]

Fictitious airdrops and giveaways have become quite common. Anything that requires you to pay Bitcoin first in order to receive more is a scam. No legitimate project or organization would request a private key or seed phrase.
Impersonation scams happily occur on Telegram, WhatsApp, or X. The scammers could be admins or "support" personnel who will message you initially. Your real admins will never message you personally, let alone ask for your wallet info.
Ponzi schemes in the form of investment platforms promise lucrative returns or “guaranteed profits.” After the account is funded, the scammers will delay or deny the cashout, then require additional fees for processing. There is no guarantee when investing in cryptocurrency.
Rug pulls mostly occur in newly launched tokens. If it’s an anonymous team, there is no use case, and liquidity is not locked, then it is best to just stay away, especially as a newbie.
A lot of people are using fake wallets and apps as well. These apps may look real but are likely to steal your seed phrase. Never input your seed phrase anywhere other than in your wallet app itself.

[Stable090]

If you see an ad saying that you can increase your Bitcoin amount by investing in their program, that will be a sign of a scam.

If anyone ask you to deposit money in a particular website to increase your bitcoin, or you are asked to connect your wallet to any site, you have to be so careful, if you do those two things you are likely going to be scammed. Right now we should know that nobody is giving out free bitcoin, if anyone is promising free bitcoin if you deposit in a particular place, then you have to be careful.

If you want to earn bitcoin now, it’s either you work and you going to be paid, or if you decide to buy with your money, but there is no free bitcoin anymore.

[HONDACD125]

If anyone ask you to deposit money in a particular website to increase your bitcoin, or you are asked to connect your wallet to any site, you have to be so careful, if you do those two things you are likely going to be scammed. Right now we should know that nobody is giving out free bitcoin, if anyone is promising free bitcoin if you deposit in a particular place, then you have to be careful.

If you want to earn bitcoin now, it’s either you work and you going to be paid, or if you decide to buy with your money, but there is no free bitcoin anymore.

Scammers are actually getting smarter over time, so they don't ask users to simply make a deposit somewhere and increase their money or anything like that, they twist and twirl everything and make vulnerable users think that they are actually making money by working. I have read about so many scams where users are referred to fake exchange platforms, they are not even asked to make any deposit initially, because they are given some funds to start trading with, the scammers guide them through about how they can make money on the platform, and the users follow through.

Once they make the users some money, and the user decides to finally make a withdraw, that's where the actual game starts. The fake platform asks users to make a specific amount of deposit to unlock the withdrawal feature for their account, and the amount they ask for is usually way lower than the amount shown to the users in their account in that fake platform, so that the user should think that if they are spending $5 to get $200, it's not a bad deal, and that's just an example, the amounts are higher in reality. So, the user falls for it, makes the deposit, and as soon as it's done, everything disappears, the platform stops working and the scammer is gone.

[Zigabel]

One key scam I will mention is don't fall for any supposed Bitcoin scheme that promises to double your Bitcoin for you, or they promise to trade your assets and at the end of the day, they are going to give you a bigger or a doubled portion of your assets.  They are all lies, it does not happen that way, it is not a get rich quick scheme else those people will not even want to get you on board to join them and enjoy the benefits they get from Bitcoin.

Avoid clicking links that requires you to link your wallet to any website of any form, it most times do not end well because  they can be fraudulent and have gained access to your account indirectly as a result of your permission unknowingly to you.

[DPHOR]

The easiest way to avoid getting scammed is to just stick with Bitcoin investment and never rush to invest in altcoin or even trying to chase airdrop, that is the is the easiest you could get affected. Again, know that whatever thing that is too real to you then you know there is something phishing out there and it would be that better for you too entirely avoid it and possibly asked questions around here to know if such thing is legitimate or not. Also, do not try to accept whatever offers they could give you outside here or even through your pm.

[tech30338]

Things that are too good to be true, is one way to know if its a scam, if they are promising more than a thing that is way too far to reality, if they are rushing you to invest, they flaunt things that they have gain from doing things like investing, promising high returns of investment in a short time, don't entertain this kind of people, those who are suddenly message you, this are people who are baiting people to invest because its going to be big, also sending you a link, never ever try to login in that or register.

[Taricoins]

It is very easy not to get scammed as most of the scam attempts always have offers that are too good to be true and almost all the time the victim is the actual cause of them being scammed and the reason why I say this is because the greed of the victims is what actually leads them into the act and in the end they get scammed. If am on this space, am very careful of the things I saw and get involved in especially when it comes to some big offer investments because if it's too good to be true then trust me it isn't.

[Fiasem20]

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.

The crypto space is vast and there are lot of Ponzi scheme out there promising returns that seems too good to be true.So as a bitcoin enthusiast it is advised that you avoid and don’t get excited by those Ponzi schemes promising unrealistic returns.There are several ways one can avoid being vulnerable to bitcoin scam but my honest truth I would say is being updated by trending crypto scams.When you’re knowledgeable and updated on the recent scams happening in the crypto space it would be difficult for scammers to scam you or get your wallet compromised.So don’t get triggered by Ponzi schemes and keep yourself updated,this is what I have to say.

[katanic97]

The easiest way to avoid getting scammed is to just stick with Bitcoin investment and never rush to invest in altcoin or even trying to chase airdrop, that is the is the easiest you could get affected. Again, know that whatever thing that is too real to you then you know there is something phishing out there and it would be that better for you too entirely avoid it and possibly asked questions around here to know if such thing is legitimate or not. Also, do not try to accept whatever offers they could give you outside here or even through your pm.

It’s actually quite easy to spot a scam. The problem is that beginners are usually the ones who fall for them, because when you’re new, any story about slightly higher earnings can catch your attention. Many people are greedy and don’t realize that if someone offers double the profit, they could also lose what they already have. In most cases, if you pay attention, a scam can be spotted easily, because the numbers they promise are usually just things you can dream about. So, i agree with you.