The price of Bitcoin shot up to $9400 today and dropped to $8800 now!!
The whole crypto market was pumping from yesterday whereby many folks have taken some profits maybe to pay bills until the prices have dropped a bit.
In these times of increase in prices, there are always many scammers who take this opportunity to rob newbies of their bitcoin or crypto.
If you have been in crypto for a while you should e aware of this pattern of scammers, they always appear when the prices begin to rise.
I anticipate more price increase these coming days as we head to the Bitcoin Halving which is now less than a fortnight!
Image Source
One of the legendary scams is the one where you are prompted to send in your crypto and you are given double in return!!
I saw that image above and I remembered seeing many scammers already on Twitter commenting on high profile accounts of how they have received their crypto already from the scammers!!
Let me explain it simply below.
The scammers post on Twitter or Facebook or Whatsapp on an offer for you to double, triple or quadruple your coins.
You will be required to send a small amount to them and they purport to immediately send double back to you!!
An example can be
Send 0.01 BTC and Get Back 1 BTC immediately
Send 0.1 BTC and Get Back 5 BTC immediately
They always entice you(the victim) with too good to be true offers hahaha.
These scammers are so good that they even come under that tweet or post and comment on how they have received their 1 BTC after sending 0.01 BTC.
Now this will make you believe that they(scammers) are real because of the fake social proof they have created in the comments section.
Just look at that image above again and see what I am saying.
Do not ever send your crypto to anyone promising you returns, do not fucking do it
It is unfortunate that noobs(newbies) fall for this scams because they want to accumulate lots of crypto in a short time.
They always say, if it is too good to be true, then it is not true.
So folks stay away from this legendary scamming tactic which always becomes common when prices start rising.
Share this to your friends so that they be aware, always do due diligence before investing in any crypto or better still ask an expert in the space.
Love
Jarau Moses
There is one simple rule:
If people ask you for money and promise to give you more money in return it's a scam.
Easy as that.
HIVE ON!!!
People are greedy to apply this simple rule.
We all naturally look for shortcuts hahaha hence being susceptible to being scammed!!
To be honest: if it happens to greedy people I stand at the sideline clapping my hands ...
But what I can't stand is when poor people grab their last cents hoping to get a little bit better are trapped.