Common Bitcoin scams & How to avoid!

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7 Common Bitcoin Scams

• How to avoid!

By Epixel Solutions https//www.epixelmlmsoftware.
com
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Bitcoin

• Bitcoin was introduced in the Digital world as an
  alternative to the traditional payment systems.
• Moreover, Bitcoin grew into an investment option
  and way to make good returns.

• Currency of the Digital era!

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Bitcoin becomes an investment option

• Beware!!

• The problems arise!

• If you are making investments on Bitcoin or any
  other cryptocurrencies, it is better to be aware
  of these scams and save your money.

• Since everyone is not that aware of the
  technology behind, it has become common that many
  people fall into Bitcoin scams and lose their
  money.

• The Research

• Weve done a research on these scam reports and
  the most common 7 scenarios are pointed out in
  this presentation.
• The complete article can be found out at
• https//www.epixelmlmsoftware.com/blogs/7-bitcoin-
  scams-to-be-aware-of

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The 7 common ones
Unverified Bitcoin exchange platform scam

• 1

Ponzi business BTC scam

• 2

• 3

BTC phishing scam
BTC website/offline/physical scam

• 4

Investment/ICO scam

• 5

Social media/Malware scams

• 6

Pump Dump scam

• 7

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1 Unverified Bitcoin exchange platform scam

• Exchange Platform

• How scam is done

• How to avoid

• What is it?
• It is the platform where one cryptocurrency is
  exchanged for another or fiat currency or
  vice-versa.

• Faking the platform
• By using a fake exchange platform, user may lose
  coins/money while transacting through the
  platform.

• Use authoritative platforms only
• Check the authority of the platform
• Note those kind of promotions that promises to
  make you rich

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2 Ponzi business BTC scams

• Ponzi business

• How scam is done

• How to avoid

• What is it?
• A ponzi business is an illegal or huge profit
  promising MLM business where the focus is only on
  profit, without promoting any valuable products.

• Sudden rise and fall of BTC
• A ponzi business that runs on BTC/other
  cryptocurrencies may show sudden rise and fall of
  values.

• Note these kind of businesses and avoid
• If the business is too relied on money
• Returns that offer high-profit ratio

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3 BTC phishing scam

• Phishing

• How scam is done

• How to avoid

• What is phishing?
• Phishing is the fraudulent attempt to obtain
  users sensitive information such as usernames,
  passwords, and card details by faking as a
  trustworthy website or resources.

• User may receive attractive emails
• User will receive emails saying You've received
  BTC coins and login in your wallet to verify
  it!, and will be redirected to a phishing site.

• Avoid spam emails
• Emails that offer free BTCs and discounts
• Never disclose the wallet credentials or private
  keys without checking the genuinity

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4 BTC Website/offline/physical scam

• Physical Scam

• How scam is done

• How to avoid

• What is it?
• Bitcoin is not at all a physical asset, it is a
  virtual currency obtained as a result of solving
  huge computations. The process is known as mining.

• User may be offered BTCs in physical form
• Lots of websites and emails offers free BTCs,
  some in physical forms too. It is done via fake
  websites or spam emails.

• Be aware that BTC is a virtual currency
• Never disclose the wallet credentials or private
  keys without checking the genuinity

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5 Investment/ICO scam

• ICO

• How scam is done

• How to avoid

• What is ICO?
• Investors make the potential investment through
  crowdfunding- like event and is called ICO or
  Initial Coin Offering or token sales.

• Investors make huge predictions about their new
  cryptocurrency
• Investors of new crypto-projects persuade you to
  invest in it by claiming that it would become the
  next bitcoin soon.

• Dont fall in false investments
• Make sure the crowdfunding event is legal
• Check validity of ICO before making token sale
  investment

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6 Social media/Malware scams

• Malware

• How scam is done

• How to avoid

• What is malware?
• These are programs designed to access a computer
  system to gain sensitive information.

• Malware URLs
• Malicious URLs and Pop-ups are designed in such a
  way that user data can be exposed and explored.

• Take security measures
• Avoid fake social media profiles and hypes
• Never download any files/programs from unknown
  sources

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7 Pump Dump scam

• Pump Dump

• How scam is done

• How to avoid

• What is it?
• Pump is the hype part of a cryptocurrency.
• Dump is when the coin touches a profit point/
  peak value.

• Pump Dump Groups
• There are groups for making fake hypes on digital
  currencies and attract huge incomes.
• On reaching a profit point, they dump their
  investments and normal users lose money.

• Take security measures
• Avoid appealing high BTC yield social media
  groups
• An over hype in a certain community is a
  suspicious PD group

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Be aware of these scams and
keep your money safe.!

• Read the full article at
• https//www.epixelmlmsoftware.com/blogs/7-bitcoin-
  scams-to-be-aware-of

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• Thank you..!
• Epixel Solutions
• Cherish your e-life!