How do we identify imposter of Bitcoin?

[GeorgeJohn]

I noticed that many sites has scammed a lots of people and some of this wallets introduced by this criminals most at times is forge from original btc chain wallet and they'll be able to convince you to fall victim, from instance someone I know was into yahoo but he pose to deal on btc trading and investment,

At first, we need to understand and also be conscious of anything that has to trading investment, 99% of social media trading investment all of scam...i don't think that people fall victims of online trading investment any more...i have female friends that has been scam $9,000 through trading investment platform...So i can't advice anyone to invest in such dubious trading scam....
 

like he will ask people to come learn trading or investment with him base on his Instagram evidence of Transactions and clients he keeps posting with clean receipts, many people fall victim go to him create wallets with him, or even train you on how to trade, master you on it, then he will give you all your information and details to go and establish yourself and start doing it yourself but afters some months or a year he will still be the one to stay in his office and wipe your wallet,

if he wipes he wipes their wallet after creating wallet for them, It's the fault of those of his trainees, because they're suppose to know that in cryptocurrencies it's all about privacy...And you don't need a second party to have access to wallet based on safety purposes..secondly, i can't be deceived by transaction receipt, it's someone who's curious to make instant money, that lacks patient to make a proper research on what it wants to embark on....

[CryptopreneurBrainboss]

So how do we identify someone you trusted to be close or far who's into Bitcoin trading and investment yet is a fake person?

The signs are always there as they sell lifestyles instead of selling real trading courses that will help you into mastering a strategy that gives you profit instead of jumping from one trend to another. Imposters are always obvious to those that have been trained to identify them but since newbies are still delusional and want to believe everything they see online, this imposters become less obvious to them but the signs are always there so what you should do is to look out for the signs and you'll be able to single out those claiming to be who they aren't. Lot of people will claim to be professionals but if you watch their videos closely you will see that they aren't doing any trade but just sending selling a lifestyle to you in order to get your membership fees. What I always recommend to new traders is to get real life mentors or if they still want to learn online then they should do research and ask questions to avoid being misinformed.

[Agbam]

So how do we identify someone you trusted to be close or far who's into Bitcoin trading and investment yet is a fake person?

The signs are always there as they sell lifestyles instead of selling real trading courses that will help you into mastering a strategy that gives you profit instead of jumping from one trend to another. Imposters are always obvious to those that have been trained to identify them but since newbies are still delusional and want to believe everything they see online, this imposters become less obvious to them but the signs are always there so what you should do is to look out for the signs and you'll be able to single out those claiming to be who they aren't. Lot of people will claim to be professionals but if you watch their videos closely you will see that they aren't doing any trade but just sending selling a lifestyle to you in order to get your membership fees. What I always recommend to new traders is to get real life mentors or if they still want to learn online then they should do research and ask questions to avoid being misinformed.

Yes those signs are always there but the greeed of the individual blinds them to see it they’re only seeing their supposed profits and plans of spending it. Newbies are always the ones to fall for such scams but also some veterans also do fall victim.

I think that anyone who knows what they’re doing in this online and crypto space should be aware of most of these scam processes. We have to scrutinise any and every thing you want to invest your money into and know that anyone selling lifestyle is a scammer. Too good to be true investment stories should always be a red flag.

[puloweh555]

So how do we identify someone you trusted to be close or far who's into Bitcoin trading and investment yet is a fake person?

The way is quite simple which is through knowledge. If you keep studying bitcoin in depth and can master it, especially in terms of security, scams or the like, it will be easy for you to avoid them. That's why everyone in this forum always advises beginners or everyone not to be lazy to read because by reading your knowledge and insight about bitcoin will become broader. Moreover, it’s not always easy to identify someone with bad intentions in the world of trading and Bitcoin investment especially if you already fully trust that person. So, your focus should be on continuously improving your own knowledge because this is far more effective than constantly placing hope in others.

By learning on your own especially now when it’s very easy to get reliable information while still listening to others' advice you’ll be better off. What I mean is, if you keep learning information or advice from others you’ll be able to filter it easily. So, it’s your knowledge that will protect you from all kinds of fraud or bad intentions from people you trust, because you already understand the risks, how the crypto market works, and you’ll also recognize suspicious signs without having to rely entirely on others.

[shawonngp]

There are so many wanna-be traders nowadays. Showing off their wealth online and acting as if they are the most successful traders in the entire world. Well, what they are doing can actually already be considered suspicious. I am not saying that there are no successful traders out there, but there is a big difference between genuine traders and scammers, like what I said at the beginning.

So it is your choice whether you believe them only based on what they show on social media or you do a deeper investigation into what they actually do and are not so easily convinced by anything they claim before you find enough evidence to support those claims.

Right, I think genuine successful traders will never share snapshots of their winning history on social media, because they don't have much time to share their income statement publicly. Even though you have seen many successful people who don't want to share their exact income, they aren't comfortable sharing it with everyone. Scammers are the ones who share winning snapshots and convince people to get money. In many cases, they share fake screenshots, which many traders buy trading tips from them. And many people give them dollars, expecting to profit. This is how many traders fall prey to fraud.

[Hamza2424]

So how do we identify someone you trusted to be close or far who's into Bitcoin trading and investment yet is a fake person?

As far as I understood, the person here who was impersonating as a teacher was actually a scammer and stole people's funds from their wallets because he helped them create new wallets for the first time and kept the seed phrases, right?

Well bro, in this situation only a kid won't create a new wallet, even they might know it is not safe to trust anyone these days. So how come people keep using the same wallet?

Why they did not use their knowledge that person gave of creating new wallets to create one for themselves? I think trust plays a role here, because when we trust someone so much they are most likely to deceive you. We can't identify anyone but we have to be careful with our own money every time.

[Donk1]

​You know i can agree that newbies who journey into this space have no flaws, but having said that, their motives are what lead them to getting involved with such folks. Due to the fact that this set of people always seem to create trust with their clients who are after quick money in crypto they often easily fall victim to such situations. Basically it's easy to say you can't identify such schemes if you do not have an idea of creating awareness that such stuff are typical scams. Best to say it's not advisable to trust people you find online proposing such opportunities. I know everything comes with a risk but still it's better to buy Bitcoin from an exchange and download an official wallet to protect your coins than trusting someone you don't know just because the person proposed an easy way for you. I thing people don't consider the possibility of what the person is getting in return and what is their motivation. Perhaps folks are too blinded and delusional when it comes to money and it's a rather bad habit to have in this space because you will end losing more..That's all.....

[Findingnemo]

~
So how do we identify someone you trusted to be close or far who's into Bitcoin trading and investment yet is a fake person?

I don't understand the concept of this scam scheme. Someone trained you to be successful but he managed to wipe your Bitcoin wallet? But how?

So the victim must be using the same wallet, which must be created by the one who scammed you?

If that is what you are saying then victim learned nothing in all these years and if they don't then someone will scam them sooner or later.

[Cleanshit]

~
So how do we identify someone you trusted to be close or far who's into Bitcoin trading and investment yet is a fake person?

I don't understand the concept of this scam scheme. Someone trained you to be successful but he managed to wipe your Bitcoin wallet? But how?

So the victim must be using the same wallet, which must be created by the one who scammed you?

If that is what you are saying then victim learned nothing in all these years and if they don't then someone will scam them sooner or later.

Looking at everything, from the very first place i think the very problem is where he trusted the person with wallet creation. Because if someone do create your wallet for you that Person knows your seed phase than I would say that your funds aren’t fully safe. Even if that user teaches you how to trade you keep your seed phase private to urself. This is one of the lesson beginners should take note.

[Alphakilo]

To identify imposters of Bitcoin may not be as easy as reading or researching on them, but I think when one can better understand themselves and learn how to protect themselves, they can spot scammers and avoid their traps.

The importance of self custody is as simple as knowing how to do it yourself. That's why there's so much information online with the emphasis to do your own research so as to be self sufficient in knowledge and avoid the pitfalls of scammers.
There's also the need to identify and use trusted and verified CEX when one wants to learn about Bitcoin trading and investment, while also knowing that verification of addresses in the Blockchain is possible and should be done using a Blockchain explorer to verify history of these fake scammers wallet addresses.
Lastly is to learn to use demo accounts for practice before entering the market for real, so as to familiarize oneself with the environment and learn for free without exposing oneself to real scammers posing as mentors or guides.

[DPHOR]

How would you allow someone to create a trading account for you or even an exchange account and you allowed him to have to some information about your details, does this sounds right at your sight?
With the level of exposure the forum has given to us and you still believe someone out there would fall victim? Well, there's possibilities because those who are not opportune to have them at their right could get caught or captured so easily since they would be that thinking that could start making money at their ends while at home without knowing the real intentions of their mentors.

[jossiel]

Just don't be engaged with any of these people who are telling others how much they are making in trading and how profitable they are.

Because you'll have to think about it, why they have to share all of it and asks people to join their programs or membership that they have?

Make themselves profitable, be silent and get rich with what they do if ever they are real and profitable. Everything they flex is a red flag.

[Decimetre]

Just don't be engaged with any of these people who are telling others how much they are making in trading and how profitable they are.

Because you'll have to think about it, why they have to share all of it and asks people to join their programs or membership that they have?

Make themselves profitable, be silent and get rich with what they do if ever they are real and profitable. Everything they flex is a red flag.

Exactly, everything here is a red flag. You will still see people falling for these cheap scams and I will be like, where's the common sense? Even a kid who only pays attention to the explanation that these unscrupulous entities give, you will see everything red about it. Allowing someone help you set up your wallet is already a gateway to losing it all. What they do is they give you sometime before they wipe off your earnings. Suspecting everything is a good way of avoiding some cheap scams. Do your own research always.

Entrusting someone who claim to be your teacher with your wallet is not a good idea. I prefer that a person who had been taught bitcoin wallet should, after he had learned the way it works, go and create another wallet on your own and move all your coins into the new wallets. This will help you beat their smartness whenever they decide to wipe your savings.

[Out of mind]

Many people are currently explaining Bitcoin trading and investing in various ways on social media, they are very skilled and knowledgeable about it. Fraudsters want to make themselves so that people blindly trust them, but those who trust them lose their money in the future and become victims of fraud. We should stay away from such people from the beginning and if someone offers to teach us about trading and investing, then stay away from them and do not fall into their trap. Nowadays, most people are fraudulent online platforms, no one will teach anyone on their own, but they will definitely benefit, for which they will try to trap others. When a person trusts the fraudsters, they gradually share everything and give them everything, after a few months, that fraudster cheats them after knowing everything. That is why we should be extremely careful with Bitcoin trading and investing, it should never be to waste everything to learn from others.  Rather, if you continue to learn about Bitcoin gradually on your own, you will eventually be able to gain skills and experience on your own. Then, you will not have to take advice from anyone else when it comes to trading and investing, and your money will be safe.

[Tetu100]

This type of scams are still shocking to me when I hear about it but humans are very gullible and greed driven that it obscures the sense of better judgement and investigative research on who you’re dealing with.

I’ve seen and heard enough to know anyone proclaiming to be an expert online in order to get people to invest or follow them is actually a fraud and showing winning receipts or testimonies from many faceless people makes it the more obvious. This type of scam is not only with trading or investments, they do it with bets claiming to be experts in predicting correct outcomes.

Just fleee from anyone proclaiming to be experts!

Such kind of scam is too cheap for my liking if I'm to be honest with you. Like I don't get it, someone coming to preach so shit about bitcoin to me like I don't get it. Afterwards, I will just trust him like that without doing my little research about him or what? Well, dumb people will always fall at ease because a real investors or someone that wants to know more about something wouldn't just rely on what he was told but rather channel his actions based on the fact of his own personal findings.

If you go online mostly Facebook and most of the social media platforms, they're everywhere hunting for who to make victims. Although commons sense might be common but it's also needed in situations like this.

[TheUltraElite]

So how do we identify someone you trusted to be close or far who's into Bitcoin trading and investment yet is a fake person?

A person might have a fake persona to appear as legit in this internet but the person who will become a victim to their actions will have to be an equally gullible person. We cannot prevent the first one, but we can prevent the second one. If you blinding trust a person and then give them something that cannot be taken back you are making a mistake.

Bitcoin payment system is irreversible by design. So keep that in mind when sending coins to somebody. If that person bails you will lose your money.

Secondly use common sense. If someone is saying they know who to double your money - do you really think they would give you that and not use it to enrich themselves?

[jossiel]

Just don't be engaged with any of these people who are telling others how much they are making in trading and how profitable they are.

Because you'll have to think about it, why they have to share all of it and asks people to join their programs or membership that they have?

Make themselves profitable, be silent and get rich with what they do if ever they are real and profitable. Everything they flex is a red flag.

Exactly, everything here is a red flag. You will still see people falling for these cheap scams and I will be like, where's the common sense? Even a kid who only pays attention to the explanation that these unscrupulous entities give, you will see everything red about it. Allowing someone help you set up your wallet is already a gateway to losing it all. What they do is they give you sometime before they wipe off your earnings. Suspecting everything is a good way of avoiding some cheap scams. Do your own research always.

Entrusting someone who claim to be your teacher with your wallet is not a good idea. I prefer that a person who had been taught bitcoin wallet should, after he had learned the way it works, go and create another wallet on your own and move all your coins into the new wallets. This will help you beat their smartness whenever they decide to wipe your savings.

Let's give the benefit of the doubt for those who are not familiar with it. And that's why they're falling for it.

But if it's second or thrice times that they have fell for it, the problem is on themselves.

And that's because they keep on allowing themselves to engage into these scammers that should have made themselves self made first than others.

[348Judah]

So how do we identify someone you trusted to be close or far who's into Bitcoin trading and investment yet is a fake person?

If you want to genuinely learn about bitcoin trading or investment, I will not suggest that you go through the influencers of the social media, instead you can make use of this platform to learn about Bitcoin and also know how to trade by asking relevant questions that is needed and other suggestions could be given along the line in addition, you can as well help the situation by getting some helpful materials to learn on your own rather than depending on those that we advertise themselves to you instead of what you needed to know.

[Issa56]

many people fall victim go to him create wallets with him, or even train you on how to trade, master you on it, then he will give you all your information and details to go and establish yourself and start doing it yourself but afters some months or a year he will still be the one to stay in his office and wipe your wallet, he was into this frauds for 5 years but finally they caught him and seize everything from him.

If you can see someone online forcing people to join his group for signal or trading, then I do always tag those people as scammers. Really trader making money won’t be online begging people to come and learn how to trade, most of them are always silent, and they don’t have time teaching people how to trade. Most of those people asking people to join their group always request for money, and I will say they are only after the money.

If anyone ask you to create account on a platform and use the platform for investment, just block the person, because you know thats a scammer. When you start putting your money, they might not tamper with it, they going to try and build trust, immediately you deposit big amount of money, you might not just hear from them again.

[CryptopreneurBrainboss]

I think that anyone who knows what they’re doing in this online and crypto space should be aware of most of these scam processes. We have to scrutinise any and every thing you want to invest your money into and know that anyone selling lifestyle is a scammer. Too good to be true investment stories should always be a red flag.

The beginners can be excused as they aren't familiar with the market yet but the veterans are the ones that have no excuse since they have been in the market for a long time and should have experience. Veterans getting scammed is a joke especially when the scams are from minor things, their experience should play a major part in this scenario and when it doesn't then it means there wasn't any experience to learn from. Anyone that claims to be a veteran should be able to identify Bitcoin imposters and other scam very easily since they all or mostly use the same template to scam people.