Is Bitcoin Exchange Safe – What Kind Of Bitcoin Scams You Should Stay Away From?

Wondering is bitcoin exchange safe or not? If your answer is yes, then I am here to help you out. In today’s time, bitcoin and other cryptocurrencies are getting widely popular. And this has also started a lot of crypto scams. One of the common issues that many users face is that they signup to a fake bitcoin exchange. And after a while, the exchange gets vanished.

Although, this thing can simply be avoided by signing up on trusted crypto exchanges. However, there are still quite a lot of risks that bitcoin exchanges have. And in this article, I am going to talk about them only. So let’s just head into the topic without wasting much of the time:

Is Bitcoin Exchange Safe – What Kind Of Bitcoin Scams You Should Stay Away From:

Fake Bitcoin Exchanges

Fake bitcoin exchanges are one of the common issues that many newbies face. On different websites, you might see ads saying buy bitcoin for 5% under market value and so on. And most of the newbies easily fall for these traps.

And then they are taken to a fake exchange. So I would always suggest you to from this kind of ads and websites. Another thing that if you have ever come across a crypto exchange platform always makes sure that it is HTTPS secured and not HTTP. This means the website traffic is encrypted and secured. And if it is HTTP, you better stay away from it.

Fake Bitcoin Wallets

Fake Bitcoin wallets are also one of the common things. And the hardest part is that sporting them is quite tough. Because wallets are mainly used for storing bitcoin and not purchasing or selling it. It has less to do with money.

Also, in most of the coins, bitcoin wallets are just scams, and it infects malware in your machine, and often, they try to steal your passwords or private keys.

However, to save you from scans, Bitcoin.com recommends bitcoin wallets for desktop and mobile users. You can try using them.

Phishing Scams

Phishing scams are also very common. Phishing is when someone tries to trick you into thinking that they are a trusted company or website by having you visit a fake site. Typically, phishers contact you via email or fake ads. And when you visit their website, you will get malware, or lose your bitcoin through a fake sale.

So be careful with the emails that you get on your phone. You may receive an email from a wallet or exchange you already use, either by coincidence or through past database hacks.

Final Words:

The thing is that on the internet, there are quite a lot of ways that are used by hackers to scam users. Hence, it is always a good idea to use trusted bitcoin exchanges and wallets and ignore emails that may look suspicious. Also, before you use any website, wallet, or tool, do read reviews about it. To understand it in a better way.

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