Top 3 Bitcoin Scams to Look Out for in 2019


Scammers are continuously fleecing individuals since the discovery of money. Most significantly, every new invention of technology sees hackers are taking complete advantage.  When it comes to bitcoin, it is a dream of scammers for numerous reasons which are given below:

  • Lack of proper understanding of bitcoin

It is a common problem that makes it simpler for making usual moves and false promises without getting caught.

  • It is hugely unregulated

There are lots of techniques for hackers to steal bitcoin without breaking any law.

  • Anonymous concept

This feature makes it simpler for hackers to cover numerous tracks. If any Cryptocurrency, including bitcoin, is stolen, rightful owners cannot receive it again.

Fortunately, a small number of precise skills will keep bitcoin owners safe from several scams. It is equally essential to know about the major bitcoin scams.  This article shares you accurate details regarding three major bitcoin scams.

  1. Bitcoin doubler

One of the most popular bitcoin scams today is bitcoin doubler. It involves you sending a certain number of Bitcoin to the wallet address of a person or a website. Then, you offer them the wallet address. In this process, you need to wait specific time duration and sent your details several times to get a few Bitcoin back.

It is entirely a scam. It is because the promoters and creators of this bitcoin scam infest social media with fake claims of individuals making cash. Many websites are offering this scam.   Also, they provide some affiliate programs, and hence, they can receive lots of individuals for promoting this scam online.

  1. Ponzi schemes

Scammers provide a chance that guarantees a massive return on your cash with bitcoin.  Many people trust this offer and then scammer runoff often with all their money.

Initially, these schemes may look like though they genuinely work. If the number of bitcoin is increasing in the bitcoin account as promised, people may talk about its working and how it changed their entire life.

When they try to acquire the funds back, they may discover that there is a technical problem or customer support is not responsive or other issues. Most significantly, the company disappears after a few days, and the cash is never coming back again. It is another nefarious scam in the Cryptocurrency world.

  1. Malware

It is a well-known fact that malware is a way used by hackers. It is because it helps them to acquire passwords required to steal bank account and credit card numbers or access the computer networks. It is essential to know that they are now using malware for conducting another most critical Bitcoin scams. For instance, if the Bitcoin wallet of users has directly connected to the internet platform, it will draw the attention of hackers towards your account.  Then, hackers can utilize malware for acquiring access as well as drain the funds if they fail to protect themselves from malware.

These kinds of malware files are available on social media and websites as well as in the email. You may find out many posts where anyone states that few programs or ads let you acquire Bitcoin for entirely free. If you download the ads or application, you will surely get malware.