As I mentioned in my Previous Post that the Rise of Cryptocurrencies has also led to the Rise of many Crypto Scams and how we should avoid them. In this Post, I am going to point out some Types of Crypto Scams.
Types of Crypto Scams
1. Twitter Scams
In this category, you will find peoples Posting on twitter about an Amazing Offer where You send the Guy 1 BTC and he will in return send you 10 BTC. Yes, you heard me right. This kinda thing does happen on twitter and those who have just joined in the CryptoSphere may fall for these Stupid Sharades.
2. HYIP Programs
HYIP stands for High-Yield Investment Program. These types of Programmes Boasts a Ridiculous amount of Payment for Your Investment. Some HYIP websites even say that they will pay Upto 15% of their Investment per Day. I used to fall for these Websites when I joined in the Fray.
3. Fake Cloud Mining
Now Bitcoin Mining sounds pretty fancy to any new Individual and when they see so many Cloud Mining Websites claiming to Mine Bitcoin they can't help but try to get their Feet wet in the Mining Business. But sadly speaking there are several Websites which are not geniunine Cloud Mining Companies and are just there to Scam you off your Hard Earned Money.
4. Whale Upvotes
Since I am Posting on Steemit it should be fair to Include one of the Scams which some People run here. There are many Whales in the Steemit Community and they Upvote Others content quite often. But sometimes some Scammers try to Impersonate them on Steemit Chat or Discord and ask for SBD's for a Huge Upvote which is just another Scam. I got caught up in one of those around 3 Months ago when someone approached me on Steemit.chat. When I said I am sending the Money to his Steemit account he sent me his Bittrex account Memo and asked me to send the Money there. Even though I knew it was a Fake account I wanted to confirm it and that Bittrex Memo was confirmation enough.
At the Moment these are the Scams I remember.
Please comment Below If you have anymore types of Scams to add.
My next post is going to be about how to avoid these Scams so Stay Tuned to my Blog.
Thank for information guy.
Now on going to be carriful
I hope it was Helpful.
And only then you find Bitconnect and Confido :D
Hehe I don't even know what Confido is?
Bitconnect who doesn't know that.
Yes,Its true that there are lot of scams that you point out in your article are running these days.Also some people are scamming by saying they will resteem your posts and upvote them but none of these things happen and people at the end lost their money.Cloud mining and bitcoin bots scams are also very hilarious to scam people.Every individual should take notice to all the mentioned types of scams.
Thanks for the post
It's your own Money you are investing so it's always good to do some Background Check.
Thanks for sharing the types of Crypto Scams found on the Internet.
I hope you stay clear of such Websites.
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This post has received a 0.02 % upvote from @speedvoter thanks to: @arunava.
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Great post thanks for sharing :)
very good information D: thanks for share
When they offer something like that. We must remember that nothing is easy in life. And nobody gives anything.