Scams in the Crypto Universe

in HODL5 months ago


Scams have been around since I was born or should I say time immemorial. Anyways what I want to convey is that there will be scammers no matter what time period you have/are/had stayed in but the thing that changes with Scams is the method they use or the tactics they use. As Bitcoin seems to be the current talk of the town it's no surprise that a lot of Scams offering huge returns have popped everywhere.
And the only thing that can help normal users to not get scammed is to have the proper knowledge of things. Currently, a lot of governments are just warning about these scams offering free Bitcoin but I feel like instead of warning the general public they should educate them instead.


Education and Proper Knowledge is the best weapon against Scams and I feel like if you know something is a scam, rather than just warning people you know you should also educate them as to why you think that's a scam. I for once feel really proud that I was able to educate my Mom about Blockchain and how things work around it and even though she hasn't fully grasped every technical detail she is open about having a conversation about Blockchain.


So the reason I am writing this post is that I recently received a message on Discord about a possible scam as the person asked me if I could help him/her as they cannot withdraw their BTC out of a website due to monthly withdrawal limit. He/she needs money urgently and is willing to give you access to his/her account and also a percentage of the BTC left but they need the money immediately.
You see the scam here is easy for me to see but there might be some people who will think that since he/she is giving you access to his/her account and you see the BTC in it then you are safe.

Hell No

It's very easy to change the password once they get their money and you now will be left with lost money and a username and password that won't work.
So yeah knowledge is what will help normal users to not fall for Scams and I hope I can educate a couple more friends of mine who still think that what I am doing is Foolish.