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Cryptocoin Fraud Prevention

Cryptocoin Fraud Prevention

  • February 19, 2018

Cryptocoin Fraud Prevention – How to Keep Your Coins, Stop Scams and Get Rich Over Time.

A day doesn’t go by when someone isn’t scammed out of their money or their cryptocoins. Cryptocoin fraud prevention has become a necessary educational item that everybody – Bitcoin miners, cryptocoin investors or would-be miners or investors need to learn. Whenever you are holding Bitcoin or any other crypto currency you are holding items of value. They have worth. They are worth money and they need to be protected as if they were gold coins themselves.

Cryptocoin fraud prevention has become more important than ever as very resourceful criminals are getting very creative in how they trick people out of their cryptocoins or actual fiat currency. Even intelligent who are “street smart” get fooled into voluntarily giving up their money or cryptocoins…

I can’t say for certain if there are more AmerIcan cryptocurrency scammers as compared to Africans or Indians or any other group. What I can tell you is that it seems more likely to be attempted by people who live in countries with an overall lower average income, lower standard of living, etc. However, ANYBODY can be tempted to steal money if it’s easy to do and impossible to get caught. Unfortunately, that’s exactly what we have here so let’s get you educated so you don’t get robbed or scammed.

bitcoin fraud preventionCryptocoin Fraud Prevention Tips

Never Give Out Your Wallet Address AND Password. Yes, you need to give out your wallet address to receive coins. But you NEVER need to give out your password and you never should. Why? Because anyone with your Wallet ID and your password can clean you out in less than one minute. NEVER give your password to ANYBODY. Your cryptocoins will be GONE.

Never Fall For A Get-Rich-Quick or Easy Money Pitch. These run the range of “Invest $70 and earn as much as $750 per week!” OR “I’ll show you how to get 2 Bitcoin in 2 days!” etc. etc. I sometimes troll these posts on Facebook with a simple answer: “Prove it!” and nobody ever does. These are out and out scams and are to be avoided. I’m a Bitcoin miner and I own my own equipment. I invested a HELL of a lot more than $70 and I NEVER made $750 per week. And after MONTHS of mining I’ve mined almost one HALF of one Bitcoin. The math of these bullshit offers just doesn’t work. Ditto for bot investing with promises of 1%, 2%, 3% etc. returns per day, etc. etc. Making money in cryptocoin is not done these ways. You do lots of homework and research, you invest your money and watch your portfolio as you continually educate yourself.

NEVER Buy or Sell Bitcoin Privately. ALWAYS use an exchange.Whether you are the buyer or the seller – WHO GOES FIRST? Who sends their money to a perfect stranger and HOPE that stranger will give them their Bitcoin? An idiot, that’s who. On the flip side of that coin, who sends their Bitcoin to somebody they don’t know and TRUST this perfect stranger to send their money? A moron, that’s who. If you can’t buy cryptocoin of any kind with an exchange then DON’T BUY IT PERIOD.

Never Buy Overseas ICOs.Scam ICOs are robbing millions of dollars from people. Some of them look and sound great with a perfect whitepaper, a plausible business model and beautiful website. There’s just one problem; they rake in millions of dollars and disappear. Here’s your ICO buyer’s guide to safer ICO investing.

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Seth Fields