As much as bitcoins are considered as the next valuable treasure, it is also a currency that is faced with challenges. One of the biggest challenges that people face when using cryptocurrencies such as bitcoins is being scammed. Nowadays, scamming and hacking has been the norm in crypto trade. According to statistics, scamming happens at least once a week. The incidences are also becoming very sophisticated. If you have never been scammed, here are some of the scam threats that you should always be aware of when doing transactions on the bitcoin code platform.
The mining scam
One scam that you should always be aware of is the bitcoin mining scam. Some platforms or companies always offer to mine outrageous amounts of cryptocurrency for you. Before they can do that, they will request you to pay them. After you have already paid, that is the last time you will hear from them or even be able to contact them. Therefore, you should always be aware of such a scam.
The exchange scam
Apart from the mining scam, there is also the bitcoin exchange scam that you should always be aware of. If you discover that there is an exchange that offers features that normal wallets do not offer, you should always run from it. It might be a trap to cone all your money. Avoid that when doing the exchange on bitcoin code.
The ponzi scams
This is also another type of scam that you should always know. They are programs that promise a high yield of investments. Such platforms always hook you up with high-interest rates. As you think you are investing in them, they will be very busy directing the money to the thief’s account. So, be aware.