I received a call earlier today from my father who called me to know if I knew about anything about "Bitcoin Investment ". This was quite strange coming from my retired father who cared so little about online activities besides socializing with his buddies once in a while on social media platforms. I asked where he had learnt about this and what exactly he had been told about "Bitcoin Investment " and he mentioned that a friend from one of these social media platforms had introduced him to the "best investment platform in the world, Bitcoin, which just involves him investing a certain amount of money and getting X2 after a week of investing".
Although, investing in Bitcoin is a legit and well known form of investment, I had no doubts that this was a scam and it was wise of him to have called me to wanna confirm it knowing I've had some experiences with online investments and related stuffs. One of the first signs of the scam was that he was promised double of the initial funds invested after a week and secondly, he was to invest the money with the site/ company and not buying and storing of Bitcoin itself (I have plans on educating them when I visit soon).
Now from my experience, this screams "Scam" in every way and I just told him not to invest with any person or platform no matter what they preach. I also told him to block whoever sent the messages as that would probably stop them from trying to convince him to invest with them. I told him why I believed this was a scam but didn't go into details about what Bitcoin truly is, and why Bitcoin itself wasn't a scam.
It is however common to find platforms trying to use the uniqueness and technology of Bitcoin and other cryptocurrencies to exploit people who know so little about them.
Well, stuffs like this are expected in times like this. It's the bear market and since money isn't flowing around like it used to, quite alot of scams have begun to emerge to exploit people who know very little about legit subjects like cryptocurrencies. Besides the fact that these scams are sources of income to sxammers in times like this, it also creates opportunities for them to get the funds that can be used to buy as much cryptos as they can in anticipation for the bull run. So guys, please be watchful and oberservant of your loved one's actions, educate them on these matters so they don't fall victims and stay safe out there.
It has been a while since I visited my folks. I have plans of paying them a visit in a couple weeks and so I would make out the time to educate them properly on Bitcoin, cryptocurrencies and Web 3.0. I think everyone regardless of their age should know what's happening in the world they live to keep them informed, educated and safe from exploitations.
