Bitcoin is the most emotional cryptocurrency, so it’s no wonder that we often get the question – is Bitcoin a scam?
Greetings to the editorial team and rush to ask: recently, I have read about numerous scams carried out with Bitcoin? Does this mean that the whole Bitcoin thing is a fraud?
The editorial office replies:
Bitcoin, as a cryptocurrency, is not a fraud, but it has become an ‘inspiration’ for various fraudsters to carry out suspicious transactions.
Fraudsters know very well that Bitcoin’s fame is big enough for the average Joe to hear something about it, but at the same time – the cryptocurrencies are a subject complicated enough for the same Joe to know little about them.
Hence the kind of ‘Bitcoin’ scam. Fraudsters usually promise their customers the moon with a minimum investment. They use terms such as “simple passive income”, “become financially independent”, “wake up”, “wealth at hand”, and so on.
Most often, this type of action has little to do with Bitcoin or the cryptocurrencies. Usually, there is a simple financial pyramid undercover, in which a naive person is persuaded to invest and look for more people to do a miracle business. Sometimes it is merely about making a noise that translates into scope, sometimes – about the identity theft.
Above all, a typical crook tries to win the trust of a person pulled in to fraud, based on a desire of profit-making; but also on promises of a change in life or on giving a false sense of exclusivity to the victim. When the goal is achieved, the scammer may involve this wretched person in another, completely unrelated scam. At this stage, the person pulled into a scam is already convinced that meeting with a scammer is the best thing that could ever happen to him and is willing to put money and time into another suspicious fraud.
How can we avoid being played off by scammers? Opportunities that look ‘too easy’ should be avoided. Do not be tempted by empty words. The deceiver, to whom we will say no, will often try to spur our ambition, he will write reviews such as “I thought you were a special man”, “if you want, you can still be stuck on a job earning 1500 PLN net” and so on. Disregarded, he will quickly go looking for naive people somewhere else – he is not interested in recruiting you specifically, but people who are trustworthy and easy to manipulate.
We hope that this brief explanation has clarified a bit about the fraudsters, their reasoning and their targets.