How To Avoid Bitcoin Scams

Bitcoin trading is a wonderful thing. Unfortunately, there are people out there that want to ruin your experience by trying to scam you. It’s best that you keep yourself aware of all the risks so that you can learn how to minimize them. What’s up cryptopeeps? It’s your girl Joana, here to deliver your daily dose of crypto news! Of course, every platform has their own way of avoiding Bitcoin scams. So for today, we’re going to use Paxful as an example! On Paxful, there are different kinds of scammers. Fortunately, there are ways to combat each kind of scammer. There are phishing scammers, coinlockers, and rippers. Phishing scammers try to get you to use non-verified links or they pretend to be a representative of the platform. The main goal of the phishing scammers is to get your personal info. Coinlockers are buyers that don’t pay you which result in your bitcoins being held in escrow. This way, they’ll be able to hold your bitcoin at ransom with the intent of getting money directly from you or obtain some of your personal info. Rippers are vendors that rip the value off of your gift card. They do this by pretending to sell you bitcoin but their main goal is to get you to send your card details to them. Here are some general rules and tips on how to stay safe while trading: Number one: Set a strong password They key to a safe account is setting a strong password. This includes numbers, letters, and even special characters. Just make sure that only you would know what the password would be. You could also write it down on a piece of paper and hide it, well, just in case you forget it. Having a strong password makes it harder for the scammers to get into your account. Number two: Enable 2FA or 2-Factor Authentication 2-Factor Authentication is a good way for you to add an extra layer of security to your account, this makes it harder for people to get into your account without your consent. It is recommended that you use Google Authenticator or Authy for 2FA. Number three: Make sure that you’re using the correct site It is very important that you know that you’re using the official site of the platform. Sometimes, scammers get creative and try to replicate the website link, so always be wary of the sites you’re using. Some will try to pretend to be representatives of the platform and use fake emails in order to trick you into sending them money. So always ALWAYS double and triple check the site that you’re using and the emails that you’re contacting. Number four: Be wary of the behavior of your trade partner If something’s iffy about the way your partner is carrying on with the trade, then there’s probably something wrong. If your trade partner is consistently rushing you to get on with the trade, they’re probably scammers. It’s always good to get a general read of your trade partner to know if he/she is scamming you. If you keep these tips in mind, your general trading experience should be a lot safer. Remember to always be aware and you should be good! Have you ever experienced being scammed before? Are there any tips that you’d like to give to newbies? Let us know in the comments section down below! Don’t forget to like, subscribe, and hit that bell button to stay updated on all our cryptocurrency content. Also, check out our website at! Lastly, don’t forget to follow us on Twitter, Facebook, and Instagram. Once again, my name is Joana and this is WeTheCryptos!

43 thoughts on “How To Avoid Bitcoin Scams”

  1. Thank you so much for sharing the detailed video about avoid bitcoin scams. Its really a very useful video. Google authenticator is excellent one for avoid bitcoin scams.

  2. Excellent detailed explanation about the review of how to avoid bitcoin scam. It's very easy to understand and very helpful for me. I gathered more valuable informations from this video. Thanks for sharing this video.

  3. Handy tips to avoid scammers, glad I watched the video and learned how to avoid scammers in bitcoin, Thanks.

  4. This is an excellent video and We are not always aware of the danger of scams. Thank for your awesome info on security for our crypto!

  5. I am just starting with Bitcoin, so I really appreciate this video. There is still so much to learn, so it was great learning of some of the things to avoid 🙂 Thank you for sharing this.

  6. Yes, now there are really a lot of sites and services that offer their services to buy bitcoins, thanks for telling about Paxful in detail, I also really liked this service and, unlike others, it works honestly, I bought myself bitcoins using PayPal.

  7. This is really informative video instructions and indeed 2FA generators are one of the strongest measure to secure ones wallets and accounts. Thanks for making this easy to understand.

  8. I personally use Authy for all online account and also for my ETH/ Bitcoin wallet. Thanks for informing on this topic.

  9. Congratulations for such a great job you have been doing. Your advices and tips have helping me a lot. Thanks so much

  10. since bitcoin scams are very active right now, this video has utmost importance in helping to detect such scams.

  11. Bless to you that you manage to create a video with tips on how to avoid those bcoin scammers.Appreciate your dedication!

  12. Ripping is a real thing guys! Strong password is the way to go, just write it down so you won't forget

  13. Just this week I have been on the lookout for this topic, many thanks for the tips, I have noticed that the so-called bitcoin mining bots abound in telegram, but in most of them you can realize that they are denounced as scam. few really work

  14. Just this week I have been on the lookout for this topic, many thanks for the tips, I have noticed that the so-called bitcoin mining bots abound in telegram, but in most of them you can realize that they are denounced as scam. few really work

  15. This a very important bitcoin update as it is now not exempted on scammers. The tips given here will alert all of us if someone is an scammer.

  16. excelente video, muy informativo y de gran importancia pára proteger nuestras cuentas en internet, gracias por compartir.

  17. Awesome tip given in this video especially 2 Factor Authenication method. I really appreciate this informative video. Thanks a lot!!!

  18. Thanks for the tips to secure Bitcoins. Particularly learned from this video about 2FAs – Google Authenticator or Authy. I just learnt this from this video.

  19. Good evening greetings from Venezuela this video is very good 100% recommended, I love this kind of content thanks for making the effort to create this video for your followers keep posting videos like this, until then we see you in another video <3

  20. Such an informative and well explained video about bitcoin trading.Your tips helped me a lot because I'm a newbie to bitcoin trading.Thank you so much for sharing.

  21. Perfect video, thank you so much for a brilliant video about how to avoid bitcoin scams

    with so much info really i appreciate the way of presenting topic. GOOD JOB.

  22. The tips presented in this tutorial were just incredible. Thanks for such detailed explanation on this important topic

  23. Pretty useful and to be honest, i didn´t know so much about 2FA tip.. Really really important step! Thanks again for sharing your ideas and suggestions…

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