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What are the latest bitcoin investment scam format and tactics?
This is one question people search online, and therefore there are many bitcoin frauds complaints online presently.
Have you lost money on fake MLM websites before?
The goal of this post isn’t to promote fraud, but to create awareness to avoid one falling victim to scam in and outside Nigeria.
In this post, we’re going to explain the strategies on how yahoo boys make money online by scamming the unsuspected.
If you’re an investor, this detailed article will help you in a bigger way to avoid and not lose your investment to bitcoin scams online.
Bitcoin Format for Scamming
Bitcoin is a decentralized currency without a central bank or administrator that is sent through a peer-to-peer network.
A Bitcoin investment scam is an attempt to trick people into investing in Bitcoin.
Bitcoin and Binary investment are alike, except Bitcoin is for cryptocurrency investing and Binary is for fake binary trading.
Internet fraud allows youths to live lavish lifestyles.
Now, new tactics are used with different strategies to make money online, by duping rich locals and foreigners.
Cryptocurrency makes financial transfers easier, but has also enabled scammers.
Here are the major bitcoin formats used to scam victims online:
1. Trading Scam Format
This is one of the new cryptocurrency formats used to scam people.
Here, these scammers setup Bitcoin investment website promising 20% or more weekly investment returns.
They pretend to be trading on your behalf, to give you some percentage of the proceed based on your cryptocurrency investment.
If you eventually deposit your cryptocurrency tokens (or coins), you will never get it back.
Sometimes, you’ll be paid the first time to be convinced that it works.
This is done to make you to invite more people who will definitely become victims too.
These scam websites are created in such a way that it promises to double invested bitcoin with no minimum.
This kind of scheme is where new investors’ cryptocurrency investments are used to pay the older investors.
Never think that someone can do cryptocurrency trading for you while you’re sleeping.
If you cannot do it, there are other easier ways to earn more bitcoins with your investment.
2. Random Posting
The scammer must advertise Bitcoin in various Facebook groups and pages, encouraging people to invest and make money.
They gain trust by using a delicate profile and fake screenshots.
3. Ransomware Format
Ransomware is a type of malicious software that encrypts a victim’s files or locks them out of their computer system until a ransom is paid to the attacker.
It can cause financial loss, data breaches, and operational disruptions.
This technique is often used for bitcoin scams.
The virus restricts access and demands a ransom.
Scammers can send deceitful links to the victim’s email address, skillfully persuading them to click and start the download.
4. Fake Website Format
Online scammers create fake websites to deceive people into buying Bitcoin or investing in BTC.
People are tricked into applying, paying, and losing money on these websites.
Scammers trick people with convincing emails, prompting them to sign in with their actual information.
The scammer steals personal information to access real Bitcoin platforms such as Binance and makes unauthorized withdrawals.
5. Blackmail Format for Bitcoin
The Bitcoin blackmail scheme manifests in diverse forms, including defamation, extortion, and more.
The victim is compelled to make payments and provided with a Bitcoin address for the transaction.
This Bitcoin trust format only requires an email, a computer, and a mobile phone.
To start their scheme, scammers select a potential victim from various platforms, such as Facebook, Instagram, email, or dating sites.
Once they establish contact, they accuse the individual of an act, whether it is true.
Subsequently, they send a threatening message, instilling fear within the target.
Exploiting this fear, the scammers capitalize on the victim’s vulnerabilities.
It’s important to note that if you receive a blackmail letter with a Bitcoin address as a payment option, it should be disregarded.
This Bitcoin billing format primarily targets older individuals who may find it challenging to cope with the associated pressure.
Protecting oneself from Bitcoin investment scams requires a combination of caution, knowledge, and proactive measures.
Here are some steps you can take:
- Learn about Bitcoin and how it works. Understand the basics of blockchain technology, wallets, and the risks associated with cryptocurrency investments.
- Before investing in any Bitcoin opportunity, conduct thorough research. Investigate the company or platform offering investment and look for reviews, testimonials, and any red flags.
- Check if the company is registered and licensed to operate in your jurisdiction.
- Investing in Bitcoin does not guarantee instant or excessive profits.
- Be skeptical of investment opportunities that promise high returns with little or no risk. If an investment sounds too good to be true, it probably is.
- Stick to well-known and reputable cryptocurrency exchanges and investment platforms. Research their security measures, user reviews, and track record before trusting them with your funds.
- If you’re investing in Bitcoin, use a reputable wallet that offers robust security features.
- Keep your private keys offline and avoid sharing them with anyone.
- Be cautious of online wallets or exchanges that have a history of security breaches.
- Be wary of unsolicited emails, messages, or phone calls promoting Bitcoin investments. Scammers often use these methods to target potential victims.
- Avoid clicking on suspicious links or sharing personal information with unknown individuals.
- If something feels off or if you have doubts about an investment opportunity, trust your gut instincts. It’s better to err on the side of caution and avoid potential scams.
- Stay informed about the latest Bitcoin scams by following reputable cryptocurrency news sources.
- Awareness of common scam tactics can help you recognize and avoid them.
How to Convince Someone to Invest in Bitcoin Format PDF
Don’t try to forcefully convince someone when talking about investments, including Bitcoin.
Here are some steps to help educate and inform someone about Bitcoin, which may lead them to consider investing:
- Start by understanding the person’s level of familiarity with Bitcoin and their overall interest in investments. Tailor your approach accordingly.
- Provide clear and accurate information about Bitcoin, explaining the basics of cryptocurrency, blockchain technology, and its potential benefits.
- Highlight its decentralized nature, potential for growth, and increasing acceptance.
- Emphasize the importance of diversifying one’s investment portfolio and how Bitcoin can be a part of that strategy.
- Present it as an opportunity to explore a new asset class that may complement their existing investments.
- Present historical data about Bitcoin’s price performance, highlighting its significant gains over the years. However, also acknowledge its volatility and risks associated with the cryptocurrency market.
- Discuss the increasing institutional adoption of Bitcoin, such as major companies, banks, and investment firms showing interest or incorporating it into their operations. This can provide a sense of credibility and legitimacy.
- Acknowledge concerns about security and educate them on best practices for securing Bitcoin, such as using reputable exchanges, hardware wallets, and strong security measures.
- Talk about success stories of early Bitcoin investors or businesses that have profited from accepting Bitcoin as payment. However, clarify that past success does not guarantee future results.
- Encourage a long-term investment mindset when considering Bitcoin.
- Explain that short-term volatility is common, but the potential for growth exists over a more extended period.
- Provide credible sources, articles, books, or documentaries that offer more in-depth information about Bitcoin and its investment potential.
- Encourage them to conduct their own research.
BTC Format for Bombing
These tools are used for the bitcoin investment scam:
- Bitcoin Wallet
- USA Number
- VPN / RDP
- Social / Dating Accounts
- Fake Screenshot Earnings
Investing in Bitcoin, like any investment, should be a choice based on careful consideration and risk tolerance.
If you come across a potential Bitcoin investment scam, report it to your local authorities and relevant regulatory bodies.
By doing so, you can help protect others from falling victim to the scam.