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Posted by on Feb 11, 2019 in Financial Services |

Avoid Bitcoin Scams by Using a Bitcoin ATM

Avoid Bitcoin Scams by Using a Bitcoin ATM

While Bitcoin is the best-known form of cryptocurrency, it’s still a totally new form of currency for many people. Even those who are well-versed in what Bitcoin is and how it works can fall prey to some of the scams that are out there. The best way to avoid this is by knowing what the most popular scams are. This is a great first step before making an investment using a Bitcoin ATM in Houston.

Fake Cryptocurrencies

Some shady people out there will attempt to get you to invest in cryptocurrencies that don’t even exist. While it seems like an obvious scam, if you aren’t aware of what you are buying, you could end up in trouble. Take some time to do your research and see what people are saying before you invest your money into any cryptocurrency. There are new currencies coming out on a regular basis, but it’s important to be sure that’s what you’re involved in.

Hackers and Malware

With malware, a hacker can gain access to your computer and find your accounts and passwords. This is often done to learn important information like your bank account and credit card numbers to steal your money. If you see a link in your email that seems dodgy or comes from someone you don’t trust, don’t click on it. The same applies to emails offering links to free Bitcoin or the option to mine for coin for no money.

Fake Exchanges

There have been situations where fake Bitcoin exchanges have popped up that fleece people of their money. One of them was called BitKRX and it marketed itself as a part of one of the major trading platforms available. As soon as users put money into this exchange, the people running it would steal it and run. This is not as uncommon as you might think. People are always looking to scam individuals of their money. Unless you know an exchange is reputable and trustworthy, stay away from it.

Bitcoin ATMs in Houston

If you are new to Bitcoin but want to stay safe while making an excellent investment in cryptocurrency, go with Bitcoin ATMs offered by a reputable company. RockItCoin has several ATMs in Houston where you can get started with Bitcoin without worries. If you would like to learn more, you can visit us online.