Bitcoin Phishing Scams Taking Over The Country

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Bitcoin has suddenly become one of the most traded currencies in Nigeria today because it has the highest value in market. Most Nigerians use this cryptocurrency to either shop online or convert it for naira, most web hosting companies today make use of it as one of their payment. We can categorically say that Nigeria is one of the countries in the world with the highest number of internet fraudsters and scam ponzi schemes. Bitcoin and other cryptocurrencies have only made matters worse as it has created another avenue for scamming. These days every young and old is creating a scam ponzi or bitcoin site in order to make some cool cash.

Due to the recent Bitcoin rush, many Nigerians are been scammed of their bitcoin through phishing scams. Phishing scams are very common on the internet. This is when a scammer creates emails, messages, login pages and/or websites that resemble a legitimate company. Once users enter their information (like login username and password) on the fake website, the scammers have access to the users’ accounts. If it is an account where Bitcoin is stored, the scammers can easily make off with your money. Also if you have the same password used on multiple sites, the scammers can often gain access to other sites with more sensitive information.

How can you prevent these  phishing scams?
Don’t click on suspicious emails telling you how to grow your bitcoin
Double check the spelling of the website address you are on to confirm that is it a real one
Always use a unique password for every of your account on different sites.
Report suspicious emails to your email provider (as phishing)
Report suspicious websites to the respective web hosting company

Bitcoin-related scams and frauds that are increasingly taking place worldwide with the emergence of the cryptocurrency, we advise that you take precaution before throwing all your money into it.