bitcoinofamerica
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How Can You Protect Yourself from Bitcoin Scams?

Tue Nov 06, 2018 9:11 pm

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Now most people have come to know about the different advantages of using cryptocurrency. However, it is the time to know about the different scams that are associated with Bitcoin. In the last two years, Bitcoin has made a lot of people into millionaires and this could be the reason why there are many people who are interested in learning more about Bitcoin.

It is true that the value of the Bitcoin will rise further and till date, there are already 1 million Bitcoins which are mined in the market. So, before you start investing in Bitcoin, make sure that you know all these different types of scams that are present in the Crypto market.

Usage of VPN

Have you ever heard of the man in the middle attacks? In this regard, there will be hackers who are using the data interception while you are transferring Bitcoin to the recipient. Once they hack into your Bitcoin wallet, then your cryptocurrency will be gone forever. There will be data packages sent in the form of malware between the two victims. All the data and Bitcoin transactions are lost in this manner till date. You will be able to get a chance to stay safe by using the VPN. It has different protocols which are helpful for everyone as it has an end to end encryption. Beware of the malware which attacks you in the form of emails, Facebook or with any other shared Wi-Fi network. Before you use any Bitcoin exchanges check out how reliable the exchange is so that you can trade safely and securely.

Be Careful With your Wallets

There are different types of wallets that are present in the market. All these are helpful to stay secured from the different attacks. However, hackers are smart enough to know your account information like your first or last name, mobile number, and other aspects. They are making use of these and give different attempts in testing the wallet. Once they are successful in hacking this, there will not be any chance to store your cryptocurrency in the wallet.

Get Away from Risk

The public awareness about cryptocurrency and exchanges that deal with the Bitcoin are increasing. At this instance, even the hackers and other varieties of cyber-attacks are increasing. There are different professionals who try to come up with the latest alternatives to get rid of these scams and want to be able to use a Bitcoin exchange safely.

Whenever you are making use of the exchange account provided by a Bitcoin Exchange one should remember to make use of the 2FA factor and this is helpful to authenticate in a profound manner.

Check these External Privacy Issues

There is a threat to you while you are using the ISP and as well public Wi-Fi. The people who are around you while you are using the public Wi-Fi have the chance to know that you are a Bitcoin trader. Just don’t neglect that the cryptocurrency activities are secured with your wallet, there are many other ways where all these privacy issues will come into practice.

There are different security updates which you need to upgrade to your OS to enhance its security. Check with the ransom ware and make sure you are staying safe from it. Even when it comes to VPN always make sure that you are using the most secure one.

This disclaimer informs readers that the views, thoughts, and opinions expressed in the text/sponsored content belong solely to the author, and not necessarily to Bitcoin of America, organization, committee or other group or individual. All investments are at your own risk and should be done after careful research.


Original article posted on: https://www.bitcoinofamerica.org/blog/h ... oin-scams/

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westeros
Nickel Bitcoiner
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Re: How Can You Protect Yourself from Bitcoin Scams?

Thu Nov 15, 2018 7:35 am

the main thing is not to give your private key to your wallet to anyone and store it on paper ;)

willbh
Nickel Bitcoiner
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Re: How Can You Protect Yourself from Bitcoin Scams?

Thu Dec 13, 2018 5:54 pm

There is no such thing as too much security when we speak about cryptocurrency. The important thing is to keep your private key offline. The easiest way is to print it on paper, however, I know that some people buy new devices specifically for the purpose of keeping private keys offline. And some of them put their devices in the safe deposit box.

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fx.journal
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Re: How Can You Protect Yourself from Bitcoin Scams?

Sun Dec 30, 2018 8:19 am

I am very skeptical to this cryptocurrency, it is very risky

I recommend you to read this https://coinmetrics.io/bitcoin-private/

The cryptocurrency framework is actually uncontrollable and unmanageable. Machines are running non-stop 24 hours daily keep doing the jobs – then how you control them?, everyone in the world are able to run their own miner machine with no restriction – then how you manage them? With machine running non-stop and keep mining and mining (keep producing bitcoin or cryptocurrency and everyone can participate with no restriction), so tell me, how you can control and manage them or even to stop them?

If you let the people out there around the world managed Money, Currency and Monetary System, They actually CANNOT control or monitor them, they just speculate to make them PROFIT, in the long term it will become uncontrollable, unmanageable and at the end they will collapsed.

even if you let them, only the most wealthier people in the world can conquer cryptocurrency because the cryptocurrency framework only work for wealthier which is who are afford to spend huge money for the most sophisticated, fastest, powerful machine to run. REMEMBER, in the cryptocurrency framework, ONLY the most powerful and fastest machine will WIN. You can not beat them. So at the end, it goes to the same people who are controlling the money, currency, and monetary system.

You only trust your friends around you and your family, you do not trust whosoever outside the world. Did you really trust people in Europe, middle East, Africa, Latin, Asian? are you really trust them all? Come on guys they are a lot of malicious, do not trust them....

Money, Currency And Monetary system should be governed by authority which is "Government" should be the authority, manage, monitor and control them.

And do you know how they work? This is actually how they work.

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AmrutaBhat
Nickel Bitcoiner
Nickel Bitcoiner
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Re: How Can You Protect Yourself from Bitcoin Scams?

Sat Jan 12, 2019 8:29 am

One way to stay away from scam or hacking is by selecting a good Wallet and using non-custodial exchanges.

I would suggest the combination of Trezor wallet and https://coinswitch.co for trading. Trezor is a safe wallet where I can store all my coins safely and CoinSwitch a non-custodial Exchange thus, my funds are safe with me.

Why I do not prefer Custodial Exchange:
1. Custodial exchanges considering they do not provide you your private key.
2. There have been many cases of custodial accounts being hacked in past.

swipka777
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Nickel Bitcoiner
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Re: How Can You Protect Yourself from Bitcoin Scams?

Sun Feb 03, 2019 6:38 pm

In order to protect your data, you can use VPN. It's really easy to do and you can use https://www.vpnunlimitedapp.com/en/pricing as an option. VPN is a virtual private network, that allows you to get a new ip and to connect to closed website that is not allowed in your region. I am currently using VPN Unlimited that gives the opportunity to connect several devices, to get access to closed websites, to have a high speed and to watch different videos and websites without lags.

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BenFormer
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Re: How Can You Protect Yourself from Bitcoin Scams?

Mon Feb 04, 2019 12:30 pm

I consider that the most scam is coming from not popular exchanges which are not secured.
Many people once occur that kind of fake transaction.

solarcrypto
Nickel Bitcoiner
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Re: How Can You Protect Yourself from Bitcoin Scams?

Mon Feb 04, 2019 4:46 pm

Just be up-to-date on new technology and trends. Keep learning about the industry and see what's happening, also private keys are called private for a reason.

CryptoWarrior
Nickel Bitcoiner
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Re: How Can You Protect Yourself from Bitcoin Scams?

Sat Feb 09, 2019 3:32 pm

good guide, thanks for this, but it surprises me that knowing all these points, some people still manage to get on the scam.

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