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Bitcoin trading clubBeware of These Five Bitcoin Scams
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For currencies and cryptocurrencies, technical factors are just as important. However, and please take note, historical growth and results are in no way any guarantee for future results and profits. Forex Trading is a risk and it remains your decision and sole discretion to place some Bitcoin in the trading pool for trading after you have done your own due diligence.
This type of business may not be suitable for everyone, so please ensure you fully understand any and all risks involved. Facebook Instagram. Harv Eker. Investors focus on the opportunities. The rest focus fearfully on the obstacles. Have a positive mindset about investment.
You cannot become Financially Independent if you remain too scared of taking that step. Bitcoin is changing the way society thinks about money and financial freedom. The basic idea is that investors hype up or "pump up" a certain bitcoin - that is usually an alternative coin that is very cheap but high risk - via investor's websites, blogs, or even Reddit, according to The Daily Dot.
Bittrex, a popular bitcoin exchange site, released a set of guidelines to avoid bitcoin pump-and-dump scams. While "stackin' penny stocks" may sound like an appealing way to earn an extra buck thanks to its glamorization by Jordan Belfort , messing in bitcoin scams is nothing to smirk at.
With the inevitable rise of bitcoin in current and coming years, it is becoming increasingly important to understand and be on the lookout for bitcoin scams that could cost you thousands.
As more people become interested in Bitcoin, more people are also likely to try and pull off a scam. There is no one formula to avoiding being scammed , but reading up on the latest bitcoin red flags, keeping information private, and double checking sources before investing in anything are good standard procedures that may help save you from being duped.
Cryptocurrency can be a confusing topic even for the experienced Bitcoin enthusiast, so the more you read up on the world of Bitcoin, the more prepared you can be. After all, knowledge is power. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. I agree to TheMaven's Terms and Policy. What Is a Bitcoin Scam? Top 7 Bitcoin Scams There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date.
Malware Scams Malware has long been the hallmark of many online scams. Fake Bitcoin Exchanges - BitKRX Surely one of the easiest ways to scam investors is to pose as an affiliate branch of a respectable and legitimate organization.
Ponzi Scheme - MiningMax "Ponzi bitcoin scam" has got to be the worst combination of words imaginable for financial gurus. Fake Bitcoin Scam - My Big Coin A classic but no less dubious scam involving bitcoin and cryptocurrency is simply, well, fake currency. The famous DJ wrote his support in a caption on Instagram back in Bitcoin Gold Scam - mybtgwallet.
That is exactly what mybtgwallet. Pump and Dump Scam While this type of scam is certainly not relegated to just bitcoin thank you for the education, "The Wolf of Wall Street" , a pump-and-dump scam is especially dangerous in the internet space. How to Avoid Bitcoin Scams With the inevitable rise of bitcoin in current and coming years, it is becoming increasingly important to understand and be on the lookout for bitcoin scams that could cost you thousands.
By Rob Lenihan. By Fatma Khaled. By Joseph Woelfel.