View: 433
Want create site? Find Free WordPress Themes and plugins.

Some Bitcoin Scams and How to Avoid Them

Scams have been part of human history. Ever since the beginning of currency, people have been trying to defraud each other. And with the advancement of technology, the scamming tricks have also become more raveled.

When it comes to currency related scams, Bitcoin tops the list. The currency is relatively new but holds incredibly high value in the market. Moreover, generating personal bitcoins is extraordinarily hard. So, the scammers use different techniques to steal hard-earned coins of other users. (Want to earn some bitcoins, here is everything you need to know about how to earn Bitcoin fast and easy).

Here are the most common scams that the bitcoin users should be aware of.

Scenario #1 – Wallet Scams:

If you are a bitcoin user, you would know that a Bitcoin wallet address serves the same purpose as a traditional bank account. The difference is that it is used to store bitcoins – and not the fiat money.

Since Bitcoin is all about anonymous transactions and the anonymity is gained through bitcoin wallets, the scammers hit this feature particularly by developing fake wallets.

Then they try to sell these wallets to users with a promise of 100% anonymity. The program initially seems to be working fine. But to your surprise, the trickster behind the scenes has been transferring coins from your wallet to his own without giving away a single hint.

So, being a Bitcoin user, it essential to acquire a wallet from trustworthy sources.

Scenario #2 – Scam Through Ponzi Scheme:

One of the most common Bitcoin scams. In Ponzi scheme, the con artist promises high-interest rates on deposits you make.

People who join the scheme early are paid out using the money of those coming in later. This goes on until the point where there are no more new entries.

Once the entries stop, the payments also stop and users start realizing the losses.

Scenario #3 – Bitcoin Exchange Scams:

Bitcoin scam exchanges sell the cryptocurrency at current market rates. Most of the exchanges working out there are genuine and possess now security threats to users. However, a small portion of exchanges does not work that way. Their sole purpose is to steal the digital currency and fill their own pockets.

Such exchanges charge extremely low fees when a customer is looking for credit card processing. However, after the card is processed, all the money is gone and the user is left with no bitcoins.

So, don’t always go with the cheaper options.

Read our guide on what are the biggest Bitcoin exchanges in the world to trade safely.

Scenario #4 – Phishing Scams:

The scam involves users receiving fake emails – stating that they have been awarded or have won bitcoins. But to receive the reward, they are asked to reach their wallets through the link given in the email.

DO NOT CLICK THAT LINK – or you will end up losing all your coins.

Conclusion:

These are some common scams that go around in Bitcoin world. All it takes is a bit of common sense to realize true intentions of someone you are dealing with. And if you are just starting your bitcoin venture, it’s necessary that you are aware of these bitcoin scams and know how to tackle with the tricky situations that may arise during a transaction.

Tags: Bitcoin wallet scam

Did you find apk for android? You can find new Free Android Games and apps.

Leave a Reply

Type Comments Here

Your email address will not be published.

six + 7 =

Share Your Toughts

View: 453

The Truth Behind Whether TOR Browser is Completely Anonymous or Not

Want create site? Find Free WordPress Themes and plugins.

 People have entirely assumed that Tor is a fully secure and anonymous alternative to surf the world wide web. But, has anyone ever tried to find out if all this is actually true or how anonymous it really is?

Much to our surprise, TOR is not entirely concealed because it also has a collection of risks and limitations one should pay attention to before using it. In this post, we’ve outlined the most common ways to monitor Tor’s internet traffic and track their origin.


Applications such as JavaScript, Plug-ins, and others are bound to leak your IP address:

If the main reason of your TOR usage is anonymity then you should steer away from JavaScript as it can allow external malicious websites to phish your IP address, while you’re watching a video or even using add-ons like Adobe reader and Adobe Flash.

Although JavaScript is disabled by default in the security settings of Tor’s browser bundle. You are advised to avoid turning on these options if your main priority is to anonymously browse the internet. Along with JavaScript and Plug-ins, BitTorrent is also an application that can leak your real IP address, so it is preferred to not use any such applications with Tor’s browser.

 

Exit Node Sniffing:

Due to Tor’s programming, it’s almost impossible to track the location of internet traffic. To further enhance the privacy, web activity is directed through randomly chosen relay nodes across the network, right before leaving the network to the web page. A majority of Tor’s traffic exits the Tor network.

Example: When you are entering Google via Tor, even if the traffic is directed through many Tor relay nodes it still has to exit the Tor network and connect to Google servers.

The place where the traffic exits the Tor network, also known as the exit Tor node. This can be monitored.

When it comes to using encrypted HTTPS sites like Gmail, they’re okay even though the exit node will be aware that you are accessing your Gmail account. Remember, whenever you are browsing an unencrypted site using Tor all your messages, pages visited and searches are monitored by the exit node.

It is your choice to turn your Tor node into an exit node although, this has its legal liabilities.

 

The Risk of Running an Exit Node:

As mentioned before, running an exit Tor node can lead to risks later on.  If you happen to be using Tor for illegal activities and the traffic exits out through your exit node, it’ll be tracked back to your IP address and it won’t be long until the cops are banging on your door.

 

It is advised when using Tor’s browser, to stay away from unencrypted websites whenever sending or receiving sensitive information because your traffic can be monitored. It’s not just law enforcement officers you should be worried about but, malicious predators as well that are looking to get a hold of your personal data.

 

Did you find apk for android? You can find new Free Android Games and apps.
View: 528

Crypto Market Crashes At New Year – Bad News For Investors?

Want create site? Find Free WordPress Themes and plugins.

The crypto market encountered an intense drop this Friday and Saturday. Coins were losing value with only three of the main twenty by market capitalization showing a development of more than 10 percent: Cardano, Qtum, and Neo.

Main Story:

Bitcoin also dropped from a Friday high of $15,266 to as low as $12,350 on Saturday. The previous two weeks have been extremely unstable for the first cryptocurrency, as it has accomplished an all-time high of $20,000 on Dec. 17, 2017, just to hold it for a single day and then losing around 32 percent of that value during the following couple of days.

The most recent fall is the continuation of that trend and there seems to be no recovery in sight as of yet.

Ripple, which has quite recently displaced Ethereum as the most elevated altcoin by market capitalization, has comparably dropped by 20 in the past two days. In spite of experiencing a powerful surge this week, it hasn’t been able to evade the “crypto slaughter.”

Luckily for holders of Ethereum, its drop has been less prominent. A tumble from $769 to $685, constituting only 11 percent loss of value, looks substantially more favorable to the performance of Bitcoin and Ripple. Particularly if you think about the slight recovery of 2.22 percent over the last few hours.

Overall, 2017 has been a good year for Ethereum, as it rose from $8 to over $750.

Other cryptocurrencies such as Dash, Monero, Litecoin, Bitcoin Cash, etc. have also suffered major drops over the weekend. However, the year 2017, for the most part, has been positive for the vast majority of cryptos and the crypto-growth in 2018 is expected to continue in the similar fashion.

 

News Credit: cointelegraph

Image: Google images

Did you find apk for android? You can find new Free Android Games and apps.
View: 444

What is in the Argument submitted by US Government in ICO Fraud Case?

Want create site? Find Free WordPress Themes and plugins.

U.S. prosecutors have finally planned to submit their argument in an ICO Fraud. In fact it will prove to be an oversized argument. As we all know that Initial Coin Offering (ICO) refers to someone offering the crypto investors some new cryptocurrency units  or crypto-token in exchange against cryptocurrencies like Bitcoin or Ethereum.

ico fraud

Background of that argument

Maksim Zaslavskiy is by birth United States citizen living in Brooklyn, NY. He is the founder of REcoin and Diamond Reserve Club. REcoin was designed in the form of an innovative token system where brokers, tenants and purchasers etc could purchase REcoin tokens to make easy a variety of real estate transactions. It was claimed that it will also allow users to enter into smart contracts – with the passage of time it all proved to be an illusion.

In Sept. 29, 2017 — the Securities and Exchange Commission (SEC) accused him with a fraud case investors in an initial coin offerings (ICOs).This fraud had a further links to investments in real estate and diamond industry. Maksim Zaslavskiy  was being alleged that the digital tokens offered by him did not really exist.

That’s why In September 2017, the U.S. Securities and Exchange Commission (SEC) filed a suit against Maksim Zaslavskiy , and he was arrested and charged by the Department of Justice (DOJ) in November 2017. As the SEC suit stayed pending due to an outcome of that action, Maksim Zaslavskiy easily pled not guilty to the allegations filed against him. Now, it is in the news that Maksim Zaslavskiy is trying his best to dismiss the lawsuit against him. Maksim Zaslavskiy’s point of view is that tokens sold through an ICO are technically not considered as securities.

What is the statement of SEC?

The statement of SEC goes totally against Maksim Zaslavskiy. That’s the reason why the case of Maksim Zaslavskiy has set the stage for a U.S. federal court that whether token sales can be considered as securities or not.

Furthermore, the Department of Justice is going to submit a reminder that is expected to prove false the claim filed by Maksim Zaslavskiy. It is also in the news that this filing is expected to exceed the maximum size allowed by the court for such arguments, hence a request will also be submitted to grant an exception in that specific case. Though no further details on this topic are to be found elsewhere, however, it is being assumed that the filing in question will be an extraordinary one.

Did you find apk for android? You can find new Free Android Games and apps.
View: 458
View: 453

Bitcoin Is Poised To Hit $100,000 – Says The Predictor Of Q4 Rally

Want create site? Find Free WordPress Themes and plugins.

A Hong Kong merchant who correctly predicted bitcoin value’s dramatic year-end rise trusts that its rally is a long way from being done.

Dave Chapman, managing director of digital currency exchanging firm Octagon Strategy, told that numerous investigators laughed at him when he anticipated the bitcoin cost would dramatically increase in the final quarter and reach $10,000 before the finish of the year.

Main Story:

“I was cited back in August when bitcoin was trading at around $4,000 that we would have a five-figure headline before the current year’s over,” he said. “I think many individuals thought I was insane, many individuals laughed at me, but that is OK.”

 

However, regardless of condescending looks, the bitcoin cost has met — and surpassed — Chapman’s expectation. At the time of writing this article, bitcoin was trading at $16,615, a 20 percent rally boosted by the dispatch of CBOE’s bitcoin futures contracts.

The bears credit this development to a speculative frenzy, and Chapman admits that he is somewhat worried about the market’s current “warmth”. However, he denies that bitcoin’s value is purely from speculation.

 

“Bitcoin permits the quick exchange of significant worth from one individual on the planet to some other individual on the planet, and it does that without a middleman. That is its value,” he said. “If you take a look at bitcoin and its impact financial industry, it’s clearly not that crazy to believe that bitcoin could be a greatly enormous disruptor to finance.”

 

Chapman said that the launch of bitcoin subsidiaries is an indication that digital currency is “growing up,” and he included that he would not be shocked if the bitcoin cost comes to $100,000 before the finish of 2018. Nevertheless, he warned that winding up too focused on digital currency costs will make individuals lose sight of the revolutionary aspects of the crypto technology.

 

“The cost to me is presumably the most uninteresting part about bitcoin. I’m more excited about the applications and more amped up for what this means for individuals who lack access to financial inclusion,” Chapman finished up. “If we concentrate on the cost, we’re forgetting about the bigger picture.”

Did you find apk for android? You can find new Free Android Games and apps.