Beware of Scams
Scams can come in many forms and you need to be even more vigilant with Bitcoin as you are in control of your sats. Remember, if something sounds too good to be true, it usually means it’s not true!
Sadly, people still get suckered in.
As long as you never give your private keys away and don’t send Bitcoin to strangers who promise you “amazing returns” then you will be good! Here are some common ones to look out for:
These are unexpected direct messages or replies from some random account claiming they can make you a lot of money and have links to spurious places. Don’t click any links, delete the message, report and block the account.
Scammers will often use the same profile picture and bio as an “influencer” to make their scam look more legit. For example, if you watch a YouTube video or interact with Bitcoin accounts on social media, you may get impersonator accounts replying to you with a link or a WhatsApp/Telegram group to join. Always check their social media handle and don’t blindly trust these accounts that message you!
This is where you may see a YouTube advert pop up with a clip of a celebrity figure talking and then next to it there’s a caption of text that says “get 500 BTC by sending us some” or words to that effect. Report the advert and ignore it.
At TBM, we will never send you direct messages, emails or anything asking for your private keys or access to your Bitcoin or promise you amazing returns etc. We only have our donation page where you can donate Bitcoin if you like what we are doing and want to support.
They say they are trying to keep your money safe when they see you buying Bitcoin on exchanges by blocking your purchases but at TBM, we believe it’s your hard earned money to spend how you wish. Although their saving grace might be that they’re trying to stop you buying…
Despite their many attempts at usurping Bitcoin’s decentralisation, openness and security, all shitcoins are an attempt to take your sweet Bitcoin away from you and pump the bags of those who got in early. A vast majority of these coins are redundant due to Bitcoin’s Lightning network and Taproot upgrades. Don’t fall for them!
In a similar vein to unsolicited messages, if you find yourself being hurried in to making a decision to “get in before it’s too late”, that’s often a tell-tale sign that you’re being scammed. It should always be on your own time after doing your own research if and when you join anything.
If you do receive any communication about a brand new project promising you Bitcoin upfront, always look for reviews on Google, Trustpilot or other reputable online review services. If there is nothing about the project here, it’s likely a scam.
A classic thing to look out for in scam emails is if the grammar and spelling is all over the place or the sentences don’t read very well. If a crypto project can’t write a coherent sentence, then they can’t have your crypto!