I got scammed! My first Bitcoin Experience
Have you ever been scammed? Well sad to say my first Bitcoin experience ended in a scam. April this year I first discovered Bitcoin, and soon after I got so excited and got my hands on my first Bitcoin BTC 0.04747000 to be exact when it still was 1000USD to 1BTC. The potential was endless what can I do with this? I could invest it on Genesis Mining, Day trade, buy some altcoins and wait for it to grow, or invest it to an ICO or I can just store it in my wallet and not use it, It could have been worth 122 USD today.
I have been scammed!
This is the one I chose, an HYIP or High Yield Investment Programs. It had a name of hashminers.biz here are some screenshots of the website:
They offer this payouts and I fell for it.
They had these in their website a certificate of companies from the UK, and had social media accounts in Facebook and Twitter that seemed to be really active. They also sent newsletter emails everyday about news on the site. It seemed really legit but it ended in a scam.
At first It did payout it returned some payments and I was successful in withdrawing it to my wallet. I have withdrawn everything now from the site. Then here comes the dumb idea I combined the payouts and the withdrawn amount and re invested again and I decided to let it stay for a month. Then fast forward after a month I could not withdraw any more and after a couple of weeks the site is now down bye bye bitcoins. :(
They say bad experiences is the best teacher, so I have this mindset that this experience will teach me well so that I would not repeat this over again. So here I will be adding some tips to know if the site you are gonna invest in is a scam. So that everyone will not be scammed just like me.
Tips to detect if the site or platform you are investing in is a scam and a ponzi scheme
- Research the website search it on google. Search it on bitcointalk mostly there are some threads of the site you are gonna invest in.
https://bitcointalk.org/ - Go to badbitcoin.com and if you see the site you are gonna invest in there most probably that is a scam. http://www.badbitcoin.org/thebadlist/index.htm
- And if you really are not sure go and complete this wonderful scam test from 99bitcoins.com
https://99bitcoins.com/bitcoin-scam-test/
That is all, thank you for reading my post
Yeah, lots of these bitcoin things are scams. I see over 100's of them all the time. I would just avoid them and just bitcoins :)
Yeah you must be very careful and do your research well, PTC sites have many advertisements of this sites some just like me easily fall for it, but I did learn my lessons.
Awesome post leo. I love badbitcoin.org. Great site. They also have a good list as well.
Thanks man. Yes, it contains all of the sites which are really bad to invest your bitcoins in. I wish I had found it before haha
Thank you for the advice! Some useful tips.
Thank you very much :)
What do you think about yobit Investment Box ? Is this scam ?
I found the thread on Bitcointalk here it is https://bitcointalk.org/index.php?topic=1922048.0 , If it is just really to good to be true it is probably a scam. I think there are some feedbacks on the thread.
@vallesleoruther, спасибо, что поделились!
@galca, большое спасибо
In english: Thank you very much, used google translate for that. Hope it is right. Cheers
Avoid hash mining at all cost. Think like this; Why would people sell a PROFITABLE mining power cyclus if they can just use it themselves instead of running it at a loss? It makes no sense. Unfortunately today there are loads of website like these offering "cloud mining".
Yeah I think so too, why would they sell mining power if it is really profitable? If I own that much mining rigs/miners myself I would keep it for myself.
In case you were wondering though, genesis mining is very real. Trevonjb recently traveled to iceland where he shot a video inside the mining farm and talked with the owners. He has a youtube channel and is here on steemit. On both platforms he has a significant following and is rather influential. I recommend you follow him @trevonjb
Saw that post too, will try to watch the talk with the owners. I followed him and on his Coin Count everyday he shows proof of profit from Genesis Mining. I am really 50/50 on this will definitely research on it.
But to look at it at a different perspective the returns are in altcoins and when the prices of the altcoins go really high that will be massive profit.
Sorry to hear about the bad experience. As more people become exposed to bitcoin and crypto in general, the more potential for scams. I advise that people do their due diligence and use a hard wallet.
Yeah but learned a lot from that experience. Yeah a great tip too become more diligent and a hard wallet like Trezor or Ledger if you can afford it.
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Thank you very much once again minnowsupport.
It's really nice of you to make people aware of these problems, because you are most definitly not the first one who encountered this problem. Sharing this information is really valuable especially for people who are new to the cryptocurrency market, I personally thank you for this information and I hope it will alert some people that everyone can get scammed online if they don't watch out OR inform themselves enough.
Yes, considering that I have seen so many sites like this and some people are really paying to advertise their affiliate links even on facebook. They are spreading the scam without knowing it. I did not want anyone to experience what I had experienced. So I made this post especially to educate everyone that has read this. Thank you for the time on reading my post Cheers Man. Thank You very much.
This post has received a 0.14 % upvote from @booster thanks to: @vallesleoruther.
Thank you very much @booster.