2009 was the year that BitCoin – currently one of the if not largest forms of cryptocurrency – was launched. As the years move forth, the values for BitCoin keep falling and rising, however, when compared to last year (2021) the value of BitCoin in 2022 has increased.
With how long BitCoin has been around, people would expect its prices to start falling in the coming years, but as of now, BitCoin has done nothing but flourish as one of the top forms of cryptocurrencies.
One singular BitCoin in 2022 is worth 19, 409.10 USD and due to its high value, many people turn out to be fraudsters who eat up what other people have been working on for years or so.
Here are some general scams that scammers go for in order to steal your BitCoins:
‘Investment Managers’ Asking for BitCoin investments:
This is quite a typical form of scam. In this form of scam, the con-artists hide behind the curtain of ‘investment managers.’
They act as if you are one of the primary sources they are dependent on. They give you the name of an actual business even though it has nothing to do with them.
Then they ask you to invest in their business with some sort of lie such as “50% of profits will be deposited into your online wallet.” These are, in many instances, obvious scams because a well-known business makes a lot of profits; hence they will not be willing to pay you 50% of their profits.
Such Lies Are Told Only With The Intention of Attracting Their Victim:
Once they have captivated their victim, they move ahead and give their victim a bank account deposit number and ask you to invest through there. Though that itself is suspicious, you’d be surprised to know how many people actually end up investing because of the scammer’s lies.
Right when the money is deposited, the scammer changes their identity and removes the victim from any and every social media site of theirs, so that they cannot be tracked by the victim.
Indulging in Romance and Risking Your Cryptocurrency:
In modern times, people have opted for a mindset that in order to impress someone they see attraction in, is to show them how much you have invested into Bitcoin trace or so. However, if truth be told, this technique often has the opposite effect on the person one is trying to impress.
Now when it comes to dating scams, these scams perhaps hurt the most at times due to the emotional pain the victim goes through within the relationship, and once the scammer disappears.
The scammer uses fake images to attract their victims and slowly, they develop trust within the victim’s head and heart.
Once they have realized that they have the victim wrapped around their finger, they ask the victim to transfer some cryptocurrency (which is Bitcoin for this matter) into their online wallet.
If they cannot do so since the victim is not agreeing to it, they can ask the victim to buy something expensive for them through cryptocurrency (Bitcoin Trace.) Once the scammer obtains the item or the direct cryptocurrency, they disappear from the victim.
These Romance Scams Are Sometimes Also Referred To as “Pig Butchering Scams.”
These are the two scams to look out for when dealing with others about cryptocurrency. If people do not look out for such scams, they will have to face Bitcoin tracing agencies which in many instances are very expensive. Bitcoin tracing companies at times also do not guarantee the return of your Bit Coins in the first place, so it is quite a gamble.
However, if you happen to be a victim, it is still possible to retrieve your BitCoins by signing up for a BitCoin tracing agency.
Even though these agencies are generally expensive, if there is even a slight chance that you can get back your BitCoins, it is highly worth it because as modernization hovers over us, the value and future demand for BitCoin only seems to be increasing for now.