Bitcoin is not a stranger to the world and neither is it to Nigerians, this is because of the rise in the value of Bitcoin, but this increase also comes with high rise in the number of scams on social media and websites. Bitcoin isn’t actually a legal tender; rather it is an highly encrypted digital currency. How then can you tell the real deals from the scam sites? Have you put all your money in what seems like a BitCoin scam and would like to know if investing at all is worth it? Never jump in to early when it comes to investing your hard earned money. We have some tips for you on how to spot the red flags. Here are some of the things you must take note of when accessing the website;
- Do they lure people with the promise of high yield return; anything above the range of 35% should be looked into thoroughly before investing.
- Do they have an information about the owners, an about us page? Have you had contact with any real person who is part of the company?
- Is it a new website under private registration and hidden IP details. That is a red flag! Check for their Alexa rank through Google to ensure reliability.
- What have you heard about the website on other platforms, do your research. Are they linked to any other legit websites or companies?Have you checked out any negative review that it may have? Some negative reviews aren’t always true but it never hurts to confirm them.
- Does the website contain information that is too good to be true? Then it probably is. Stay away from sites that claim they can double your coins or give you interest on your coins daily.
One thing you should know is that Bitcoin is not regulated by any nation or bank in the world and some countries even believe that the whole idea as a whole is a scam but also we cannot deny that some people are making real money out of it and are pushing for it to be legalized. If you choose to take a dive and invest in bitcoin, make sure you aren’t using your life savings.
Remember Bitcoin isn’t the stock market or a company it is a cryptocurrency. It is a very risky investment especially since you are not in control of its value. The question of whether to invest or not is in your court, whatever you do always be on the watch.