What Are the Top 5 Common Bitcoin Scams?
What Are Bitcoin Scams? When Bitcoin was rolled out more than ten years ago, followed by the ebb and flow of the cryptocurrency's price, Bitcoin Scams is thriving. Unfortunately, the unregulated and private nature of the market makes it ideal for scammers seeking inexperienced investors to defraud. Bitcoin Payments Are Irreversible One of Bitcoin's features is the transaction is Irreversible. As no regulatory, the community creates new blocks of unalterable transaction data, once a transaction has been approved, it cannot be returned, even if it wasn't submitted by the actual owner of the Bitcoin. What Are the Top 5 Common Bitcoin Scams? Fake ICOs The cheater will put the fake ICO details into a website, and then send the website to inexperienced investors with promising big profits to new users. When investors pay the funds into the website or wallet, they will go missing. DeFi Rug Pulls DeFi enables users to earn profits doing tasks such as lending out their crypto to oth...