Older people are the most vulnerable to crypto scams

[Versatile_choice]

There’s a saying “knowledge is power” I see a lot of comments like anyone can also be a victim not just older people. I must agree young people still fall for such scam although not always, the slight difference is taking correction and learning how to identify such scam scheme, once a person is conversant with such scam practice it’s very difficult to fall again reason why knowledge is power. The story about the man shows how he already got scammed not just once meaning it’s difficult for old people to learn and identify scam scheme although it depends on the person and age, I agree with the fact older people are vulnerable to crypto scam.

Did you really think age could contribute to that? Well for me I don't consider age as a factor if you have a complete knowledge about what is happening online no matter your age you would definitely look for a way to escape from such scam. If age is considered as a factor then I think the government need to restrict those old age people from accessing social media as this is the only way they can avoid falling for such scam if age is really the problem.  However learning and identifying a scam schame can only be difficult for those that is not well educated as for those that is well educated they can still be able to identify scam schame no matter how it is twisted.

[mamesso]

This is one solid reason why I don't want to introduce crypto to my father or any older person in my family, I believe they are already used to the old way of living on salary or jobs, it must have mastered them a lot that crypto related investment or online investment will put them under stresss.

I don't completely agree with your claim. Before introducing crypto to them, you should first investigate their level of knowledge in technological developments, such as their ability to operate computers and smartphones. And most importantly, their background, whether they are just ordinary laborers or farmers, or private employees or government employees. It's important to note that crypto fraud isn't just a threat to the elderly, it can affect anyone, including young people. Even those with technological experience can fall prey if they're not careful.
In my opinion, no one is immune to crypto scams because traps can occur in various ways, so always be careful and vigilant when interacting with crypto platforms and any websites that look suspicious.

[Awaklara]

In my opinion, no one is immune to crypto scams because traps can occur in various ways, so always be careful and vigilant when interacting with crypto platforms and any websites that look suspicious.

If the elderly only learn to buy and hold their Bitcoin in a wallet, it will remain safe. They won't be very attracted to the new coins that are hyped up in the media. They tend to be more careful with their money, thinking things through carefully. I guess they won't have much interest in accessing the web and connecting their wallet. 
Indeed, it is not certain whether the elderly will be more at risk or not. It will all depend on the background and experience of the person.

[iBaba]

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Did you really think age could contribute to that? Well for me I don't consider age as a factor if you have a complete knowledge about what is happening online no matter your age you would definitely look for a way to escape from such scam. If age is considered as a factor then I think the government need to restrict those old age people from accessing social media as this is the only way they can avoid falling for such scam if age is really the problem.  However learning and identifying a scam schame can only be difficult for those that is not well educated as for those that is well educated they can still be able to identify scam schame no matter how it is twisted.

You are right with your submissions here. Knowledge does not have any preferences to the young or the old people, if as a young person you decide to stay dumb, uninformed and disinterested in information that can help you secure your bitcoin wallets, then you will be more vulnerable than another old person who have been studying the tactics used by swindlers to scam people off their finances in their wallet. It all boils down to your level of carefulness and curiosity to know what can affect your investments.

Why I will kind of consider the statement about older people being more vulnerable would be tied to the quantity. Meaning the amount of old people who have less knowledge about bitcoin and it's intricacies is far higher in margin than that of the younger ones because the younger ones are always moving with the trend and in cycle of those who possess current information, so even if you don't really study the vulnerabilities, there are chances you could have heard it during a conversation at a chitchat of friends.

[malekbaba]

In my opinion, no one is immune to crypto scams because traps can occur in various ways, so always be careful and vigilant when interacting with crypto platforms and any websites that look suspicious.

If the elderly only learn to buy and hold their Bitcoin in a wallet, it will remain safe. They won't be very attracted to the new coins that are hyped up in the media. They tend to be more careful with their money, thinking things through carefully. I guess they won't have much interest in accessing the web and connecting their wallet. 
Indeed, it is not certain whether the elderly will be more at risk or not. It will all depend on the background and experience of the person.

Knowledge wjll make the difference whether a person will remain safe or not, not his age. Age is just a number. Someone aged 50 but entered into crypto a year ago, certainly will have less experience than the person who is in his 40s but has experience of 5 years in crypto.

[Razmirraz]

If the elderly only learn to buy and hold their Bitcoin in a wallet, it will remain safe. They won't be very attracted to the new coins that are hyped up in the media. They tend to be more careful with their money, thinking things through carefully. I guess they won't have much interest in accessing the web and connecting their wallet. 
Indeed, it is not certain whether the elderly will be more at risk or not. It will all depend on the background and experience of the person.

Knowledge wjll make the difference whether a person will remain safe or not, not his age. Age is just a number. Someone aged 50 but entered into crypto a year ago, certainly will have less experience than the person who is in his 40s but has experience of 5 years in crypto.

Agree with you, Knowledge and experience are the keys to success in the crypto world, not age. People aged 50 or above with only 1 year of experience may still have a lot to learn and adapt to build a strong foundation in the cryptocurrency field. The most important thing here is the ability to learn, adapt, and make the right decisions. So clearly, the measure is not age. Knowledge and experience are the most important parts in making the right investment decisions, those who have experienced several market cycles and have learned from their mistakes are more likely to make wiser decisions (despite their young age) compared to those who are older and only have about 1 year of experience.

[bakasabo]

We are all try to stay anonymous in the world of cryptocurrency, so how come a scammer be sure to aim older people? I believe that age does not matter in this case. Those who ignore security measures, does not take it serious while operating with crypto on their devices, those who are easy to believe in what strangers promise online, those who think they are the smartest (but turns to be the greediest) are the most vulnerable people to crypto scams.

[RockBell]

We are all try to stay anonymous in the world of cryptocurrency, so how come a scammer be sure to aim older people? I believe that age does not matter in this case. Those who ignore security measures, does not take it serious while operating with crypto on their devices, those who are easy to believe in what strangers promise online, those who think they are the smartest (but turns to be the greediest) are the most vulnerable people to crypto scams.

One of the reasons why i think age is a factor this because older people are easily convinced because the Lack proper knowledge about bitcoin and most times since they are very vulnerable scammers tend to take advantage of them most times compared to a younger person and now you asked the question about how the scammers tend to know if they are holding or not most of these people are on social media and scammers are used to chatting people randomly and telling them about one investment or the other so it is not as if the scammers have any information about them holding Bitcoin or they do is guess work.

Just that when it comes to that they should not be given attention because majority of scams comes from social media so if you see any elderly person investing Bitcoin it will be best for them to actually avoid social media not to fall victim of scam the only thing they are supposed to have is a app that monitor does the price of Bitcoin, so that they will keep tabs of the price.

[bakasabo]

We are all try to stay anonymous in the world of cryptocurrency, so how come a scammer be sure to aim older people? I believe that age does not matter in this case. Those who ignore security measures, does not take it serious while operating with crypto on their devices, those who are easy to believe in what strangers promise online, those who think they are the smartest (but turns to be the greediest) are the most vulnerable people to crypto scams.

One of the reasons why i think age is a factor this because older people are easily convinced because the Lack proper knowledge about bitcoin and most times since they are very vulnerable scammers tend to take advantage of them most times compared to a younger person and now you asked the question about how the scammers tend to know if they are holding or not most of these people are on social media and scammers are used to chatting people randomly and telling them about one investment or the other so it is not as if the scammers have any information about them holding Bitcoin or they do is guess work.

Just that when it comes to that they should not be given attention because majority of scams comes from social media so if you see any elderly person investing Bitcoin it will be best for them to actually avoid social media not to fall victim of scam the only thing they are supposed to have is a app that monitor does the price of Bitcoin, so that they will keep tabs of the price.

On the other side, old people are more experienced with fiat scams than younger people. Younger people have never gone through financial collapses, money denomination, they barely understand what is inflation. Older people know history, but younger generation are better at technologies only. Both generations have own advantages and disadvantages in knowledge. I predict, that if an older person wants to get into crypto, that person more likely would ask someone younger for assistance. But a younger generation will try everything themselves first, without asking older generation for a financial advice.

You have mentioned that majority of scam comes from social media. I dont usually see older people surfing through social media and reading about finances or opportunities. They use social media for entertainment. But youngsters do that.

[Giwagi56]

Old people are easy to scam, but they are not the only one, upcoming younger people are also as vulnerable or more vulnerable than the old people to scam. This is what I noticed from experience of the old and young people around me. You will teach some young people how to avoid scam, but they will not lesson until they are scammed and learn from it. The difference is just that old people have more money than young people.

I agree with you mate, no one is above to be scam, the only way to avoid to get scam is to be careful and do not do anything that will make you fall in their trap, but when it comes to some modern things like cryptocurrency old people find it easy to believe because they don’t understand it the way we do, they quickly believe in anything including what the strangers say to them, but as a young person that know what he or she is doing, it will be hard to get scam.

I think we should not compare old people and young people when it comes to anything in life because as a young person, if you are not wise at young age then you can never wise again, no one is above to be scam because scammers are very dangerous people that can use any kind of skills to scam you but before you invest or use your money to invest in crypto you should know how to secure your investment.

[aysha9853]

I agree older users need extra care, but crypto scams don’t discriminate, the real issue is lack of security habits, simple steps help a lot, separate wallets for storage and daily use, revoke permissions regularly, and ignore all unsolicited messages, If someone feels unsure, the safest move is to stop and ask publicly or walk away.

[Joeboy]

~snip~

Okay older folks are prone to getting scammed, but then it isn't only limited to them, really what I keep telling myself and other is that no matter how knowledgeable and smart a person thinks he is, there is always another person out there who is more wiser and smarter than you are...So therefore, getting scammed can happen to anyone who is not security conscious. I hope you know that most of this scammers who come to entice folks with mouth watering offers may not even know if you are young or old, or if you are a male or a female, they just come to try their luck on a person to see if it clicks or not... So the best thing for the man to do is to always be security conscious, he should stare clear from strangers both physically and even online who are offering him true to be good offers/ assistance. He should also try as much as possible to frequently communicate with his family or friends who are tech inclined....With this he he good to go....So sorry about his loss.

[Luzin]

I don't think so; currently, elderly people tend to be those who are not familiar with Bitcoin. So they are not targets for scams. But we have to remember that each person's capabilities are different. However, I also believe that older people in my country are more focused on activities to maintain healthy living and preserve their physical condition. So elderly people would not be thinking about Bitcoin. They are too old to grasp the knowledge about Bitcoin.

[finaleshot2016]

As long as the person isn’t really good at handling new gadgets or doesn’t know any new innovation, then it’s a sign already that it’s not for them. If you can’t atleast comprehend what’s happening to the modern technology and can’t even use some digital finance application then it’s obvious that it’ll gonna be hard for them to handle cryptocurrency and might end up getting scammed because of lacking info about how to use it. They should always ask for assistance because we already knew everything and of course explaining the risks could really help the situation.

[Franctoshi]

This is one solid reason why I don't want to introduce crypto to my father or any older person in my family, I believe they are already used to the old way of living on salary or jobs, it must have mastered them a lot that crypto related investment or online investment will put them under stresss.




Sadly this man have lost a fortune with crypto and he keeps falling for similar scams on telegram, this mostly happens to older men who are living alone and far away from their families, no one around them to advice them and they also feel lonely to the extent that they would prefer to listen to what a stranger have to say.


I have my way of reaching out to him and advice him, I hope he will listen but I want to bring this on here for advice.

What do you think is the best advice to pass to this man?

You're right Bitcoin is meant for everyone but not everybody will use Bitcoin, especially the old generation, most of the old generation are very addicted to the old system way of doing things, precisely the old financial system, whereas some of them can get along with the new system but don't know the potential risk and can become vulnerable to crypto scams because they have little or no knowledge about how to operate it securely.

[PostQuantumBTC]

You're right Bitcoin is meant for everyone but not everybody will use Bitcoin, especially the old generation, most of the old generation are very addicted to the old system way of doing things, precisely the old financial system, whereas some of them can get along with the new system but don't know the potential risk and can become vulnerable to crypto scams because they have little or no knowledge about how to operate it securely.

But most people in crypto are younger and not old, they are mostly scammed. Young people are mostly scammed in crypto. I think I have explained this on this thread but most of you people will not read what people are posting.

[Donk1]

Yeah that’s true Old people have already have this mindset that physical labour is everything, unknowingly to them that you can also work digitally. That said I like to believe that old people who haven't heard about crypto when they where young really do not have what to do with it at an old age except from those who have already been making us of it. That why it's easy to say when it comes to people who fall victim to scammers and their schemes, it's usually young people who have no knowledge of how the crypto space works or those set of people who are looking for free things online.

​Moreover  for this old man it seems to be that he may not be fully aware of how the crypto space works so for me my best advice to this man is to either give up on crypto, or he should learn more about how scammers attack crypto users. Either ways I fill it would be best he retires from crypto related activities before he would fall for a bigger scam that might make him start having psychological issues. That's just it bro....

[Bobrox]

No doubt, I have the same opinion with you about older people easily got scam not only in cryptocurrency but also in many cases current happening the scammer target always older people. Usually older people can't upgrade yet about knowledge and its difficult to distinguish between what is trustworthy and what is fraudulent, its important if older people want to invest in cryptocurrency must know more about how to indicate any scam website exactly target trough telegram and original website. I
Every day, always have new website similar from original website exactly in cryptocurrency for the older people if can distinguish between real and fake website for cryptocurrency access I think easily become the target for scammer.

[Nwada001]

We are all try to stay anonymous in the world of cryptocurrency, so how come a scammer be sure to aim older people? I believe that age does not matter in this case. Those who ignore security measures, does not take it serious while operating with crypto on their devices, those who are easy to believe in what strangers promise online, those who think they are the smartest (but turns to be the greediest) are the most vulnerable people to crypto scams.

You are right; scammers don't know the age of those who they are targeting, whereas I only consider the older people to be vulnerable to trusting people they don't know from anywhere online, through romantic scams and any other form of way the online scammers can use to get the attention of their victim, and crypto has always been their best way to lure them to make payment, or when they end up telling the scammer their problem, they will always propose crypto investment under the scammer's management, which the older people who stay alone can easily fall victim to because some kind of trust has already been built between the scammer and their victim; it could happen to anyone if they lack the experience.

[Patikno]

We are all try to stay anonymous in the world of cryptocurrency, so how come a scammer be sure to aim older people? I believe that age does not matter in this case. Those who ignore security measures, does not take it serious while operating with crypto on their devices, those who are easy to believe in what strangers promise online, those who think they are the smartest (but turns to be the greediest) are the most vulnerable people to crypto scams.

You are right; scammers don't know the age of those who they are targeting, whereas I only consider the older people to be vulnerable to trusting people they don't know from anywhere online, through romantic scams and any other form of way the online scammers can use to get the attention of their victim, and crypto has always been their best way to lure them to make payment, or when they end up telling the scammer their problem, they will always propose crypto investment under the scammer's management, which the older people who stay alone can easily fall victim to because some kind of trust has already been built between the scammer and their victim; it could happen to anyone if they lack the experience.

Of course, age isn't the target of scammers, they are more interested in how they can steal from others, or from anyone. I often browse scam news to learn how to take further precautions to avoid falling for scammers tricks. Personally, I often see how scam scenarios unfold on YouTube, and some YouTubers also try to educate and prevent potential victims. One of the channels I visit most often is the Payback scammer channel, they also ever takes precautions for potential victims of a scam involving a Bitcoin ATM. So, I think we should also be aware of scam scenarios and tricks that might be occur, so that we can be vigilant and skeptical of anything.

Here is the reference I frequently to see : Youtube - ScammerPayback