While the crypto markets continue a red stream across the board and prices are dropping I've noticed a mass buyout on exchanges such as Poloniex as more mainstream companies are showing interest in crypto currency everyone from every walks of life wants to make a profit and are now seeing crypto currency as having a future, that's all good for some of us who have been on the crypto scene for a while.
But there is one thing worrying and thats whats happening with all the newbies not knowing scams and getting ripped off.
Videos with the title 'How to make a million in crypto currency' (example) newbies who have no clue about crypto currency dive straight in without checking first if what they are buying into is a scam or just a bad investment move without doing the research first. Some on an impulse buy as they fear the price may go up as crypto currency is volitile.
Worst still are the individuals on social networks asking for blockchain wallet and user info to configure blockchain providing returns like 0.04BTC every 10 hours.
What!!!
If blockchain could be configured that would have been the end for crypto currency from the beginning, you have to configure the miner with the pool info etc and these individuals use a clever trick by watching another blockchain wallet which has loads of bitcoin so when you ask for proof of profits they show their wallet but it has the illusion that the balance is theirs.
Even more clever is the fact that they tell you to enable 2FA so you'd think your wallet is safe. Nope, within 10 minutes the 'miner fee' that they ask you to deposit gets swiped and that the end of 0.02 BTC. Gone with the wind.
Protect your wallets, don't ever give anyone your passphrase and watch out for anyone saying they can make you alot of BTC in a short period of time.
Stay safe and follow, upvote and like.
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