Bitcoin is a cryptocurrency (in other word its DIGITAL currency) widely in use and very costly.Its value is not fixed by any government or central bank but rather it is determined by software. This software is understand by very few people in world.
Because few know how bitcoin really works, there have been endless opportunities for chicanery and social media have provided solid base for advertisements to such frauds.
Some people investing in bitcoin assumes that its value will always go up (Due to some past experience) and they will always benefited with this. But persons having knowledge knows that this currency is very volatile.
According to an article i have recently seen there is considerable DARK SIDE of bitcoin.Here are some ways to spot scams.
Bitcoin is often used as a bait to get you download some malicious software and harm your computer in every possible way.We also discovered that fake bitcoin surveys are often used to distribute malware, and we advise caution when encountering any social media URL that is either shortened or not secured with an HTTPS connection."
In these ethically grey schemes, a low initial investment can be multiplied by signing up additional members using referral links. Before long, hundreds of victims have joined the scheme. At a later point in time, the original scammer walks away and the pyramid collapses."
Other then that Bitcoin is mostly used for DEEP WEB and DARK WEB . I will share my new post about deep web and dark web for those who don't know that internet have dark side. Bitcoin due to its higher values used in illegal activities. As governments no track record of money transfer this is most reliable method for criminals.
If you have faced scam then complaint this to FBI's Internet Crime Complaint Center. But do not expect to see your bitcoin again.
"STAY AWARE & STAY SAFE"
