Everyone knows the fact that the value of bitcoin went high, and then it was down again. You can say that it was completely a rollercoaster ride for the investors who were interested in cryptocurrency. Ever since the introduction of bitcoin, everyone has only question with them, whether it is going to boom or it will just bubble with a burst, and people will start selling them. But you cannot deny that the rise of bitcoin has attracted a lot of attention to the investors. It has been observed that people don’t understand real chemistry or technology behind bitcoin. The only thing that they notice was that the early investors and some savvy investors turned their thousand bucks into millions way back in 2017. If you are an investor and want the cloud mining facilities of digital coins, then you must opt for AWS mining. The only merit of cryptocurrency is that it is not at all regulated by the government and is completely private. And you can say that it is a significant reason why there are more chances of potential scams. Mentioned below are the top 3 bitcoin scams that you should avoid in 2020.
1.Fake Cryptocurrencies
Nowadays, one of the most common scams that have been in the market is to present new cryptocurrencies as an alternative to bitcoin. The idea behind this scam is to trick the investor by saying that it’s too late to cash in Bitcoin and so you need to invest in some other cryptocurrencies coming up. You will be shocked to know that a fraudster behind My Big Coin tool almost six million dollars, and then they redirected the amount to their bank account.
2.Malware
You might know that malware is one of the ways for hackers to get credentials to log in to your computer network and steak your important details like credit card and bank account number. Now the hackers are doing the same thing to steal details of bitcoin. Thus, to prevent this from taking place, you must get your bitcoin wallet protected from malware.
3.Old School Scams
Make sure that you do not fall in a trap where somebody email or call you and say that they are government officials and you owned taxes that need to be paid immediately. Here the scammers are demanding bitcoin instead of money via fund transfer. The only way by which you can avoid this scam is by being skeptical of the emails and phone call that says they are from a government agency.
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