Common Bitcoin Scams And How To Spot Them

In this bitcoin era, there are many scams you should watch out for. Listed below are some of them.

  1. Counterfeit bitcoin exchanges

A bogus exchange known as BitKRX was just uncovered in South Korea by their financial authorities as well as the Bitcoin users in their community. BitKRX has introduced itself as one of the biggest bitcoin trading platforms in South Korea and stole the public’s wealth. Stick with common and famous Bitcoin exchanges and Bitcoin mediums to avoid bogus platforms and get news updates about bitcoin scams fast.

Also, there are scam websites and mobile apps that were used by scammers who are pretending to be associated with famous bitcoin exchanges. Unconsciously, users provided their account information to scammers when they registered into the bitcoin websites.

2.Ponzi scam

The principles of Bitcoin scams are similar to pyramiding scam wherein they acquire the money from their newly invited members in order to compensate their former members.

14 scammers were arrested on one of the pyramiding scam called as MiningMax, in which they managed to stole $200 million money from their victims. As you might have already guessed, MiningMax members never acquired any profit on their Bitcoin venture.

3.Fraudulent crypto currencies

A new common crypto-currency scam was introduced as a substitute to Bitcoin. One of the common schemes is they require you to deposit money on Bitcoin in these start up crypto currencies investments before it is too late.

Due to this, a website/app called My Big Coin was discovered to be fake and was closed as a result. The scammers operating My Big Coin secretly stole $6 million from their investors to capitalize on the crypto-currency. However, the money was never invested into Bitcoin, but instead went into the scammer’s private bank accounts.

5 Features Which Makes Bitcoin Profit A Reliable Trading Bot

Using a reliable BTC trading bot is important to gain a good leverage over bitcoin volatility risk. Hence, check out Bitcoin Profit today! Bitcoin Profit hyvin luotettavana trading bot has helpful features for automated BTC trading. Such features make the bot gain more than 90% success rate which is certainly beneficial for crypto traders.

Helpful Bitcoin Profit features which Traders Rave about

  1. Efficient Deposit and Withdraw Processes

Bitcoin Profit offers easy to use and efficient options for depositing and withdrawing cash. It allows transferring money through credit cards, debit cards and online money transfer among other choices. Moreover, it has a small minimum deposit of $250, which is helpful especially for newbies.

  1. High Security

The last thing you want when using any BTC trading bot is losing your hard earned money for no apparent reason. You don’t wish hackers to get your valuable data as well, such as bank account info and contact numbers. Thankfully, Bitcoin Profit guarantees all users of its high security to avoid such mishaps.

  1. High Speed and Accurate Signal Response

Trading bots run by detecting signals from BTC.  If the signals it receives satisfy the parameters you set, it will automatically initiate trading to avoid missing a valuable moment. Bitcoin Profit can do such process as fast as 0.1 second, with up to 92% success rate. Moreover, the platform provides free BTC signals for you.

  1. Reliable Brokers

Brokers are the mediators between traders and the bitcoin. When the trading bot initiates a grade, the transaction should pass through a broker. Bitcoin Profit has several reliable broker channels for you to choose from. It also offers enough info about each broker, such as historical performance and data.

  1. User-Friendly Interface

Finally, Bitcoin Profit has an easy to use interface. It looks simple for beginners, but can give a good grasp for seasoned traders at the same time. Hence, it gives good control to the user—letting them customize trading depending on their preferences.

These features surely sounds great, aren’t they? Check out Bitcoin Profit to see these features yourself today.