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    Introduction: bitcoin forex scams

    Its easy to see how bitcoin forex scams can go awry. They take advantage of people by promising them incredible returns for their investments in bitcoin, they say it is a “sure thing”, or that they are privy to information which proves the case. But even in the wake of a disaster (like Mt. Gox) they continue to spread as people are more desperate to make money from bitcoin than ever before. Why bitcoin forex scams will continue to be a problem Well it all comes down to the fact that people simply don’t have enough knowledge to know that there are fake forex companies out there. There’s no real way to know what you’re getting into because it’s basically a lottery in disguise.

    What are bitcoin forex scams

    Bitcoin forex scams, also known as bitcoin mining scam, are is an unlicensed, or fake, internet offer and take-over service that sends people thousands of dollars in order to put them in control of companies with bogus information that is either based on lies or downright malicious. What is the Bitcoin exchange scam This is an online scam that involves fraudulent contact from scammers via email or telephone in order to obtain payment from unsuspecting victims. How to avoid bitcoin forex scams There are many steps you can take in order to avoid bitcoin forex scams or cyber scams in general. The first step is to make sure that you are not the victim of bitcoin forex scams. One of the most effective ways of detecting bitcoin forex scams is by looking out for red flags.

    How to spot bitcoin forex scams

    Before you participate in any of these bitcoin forex scams be on the look-out for the following common characteristics: First, there is always a bank logo on the site you are considering. If you go to an official bank’s website there will be a logo on the left hand side of the page. Bitcoin Forex Scams will always have the original logos of the bank, but replaced with the scams logo. Second, these websites are always not secure and don’t meet up to the standards needed to be a legitimate business. It looks like the site has been registered using another people name or someone else’s web server. A third warning sign is that the scammer usually will only accept your payment in BTC. These sites are usually very vague about what will happen if you send them money.

    How to report bitcoin forex scams

    As is so often the case with bitcoin scams, there is no official reporting system for this type of activity. There is however a reputable company that aims to help people who have been tricked by these scams. Bitcoin Forex Scam Report Site – Report the bitcoin forex scam you have encountered. Eulice Serisimo, 27, from the Philippines, spent nearly $11,000 (£7,000) of her savings on a bitcoin and the services promised by a digital currency trader. She made the investment after seeing a promotional video on YouTube. However she quickly realised the trader and his partner were using her money to run up huge debts for a dodgy digital currency firm. Her claim was backed up by her bank account and debit card records which showed that the investment she had made was spent within days.

    Get back money from bitcoin forex scams

    The US Securities and Exchange Commission and the European Commission have both made it clear that they will not accept bitcoin scams as they pose a risk to investors. A new bitcoin platform from European Exchange Union shows that the FCA is serious about clamping down on the issue Money laundering Bitcoins are used to launder money all the time and this can leave people open to a whole host of charges if they are caught. How to avoid being fooled by bitcoin-related scams The threat to consumers should not be underestimated and people should be aware of this before they decide to invest in bitcoin.

    Recovering funds from bitcoin forex scams

    The majority of people in Australia are less likely to invest in bitcoin than other countries. This may be attributed to the country’s strict legislation that governs bitcoin in addition to a more conservative nature of Australian people in general. With this in mind it’s possible that many bitcoin investors in Australia are missing out on potential earnings. Tempting for scammers Bitcoin forex scams are getting increasingly more popular. This is due to the fact that bitcoin has been on the rise, making people believe that there is greater profit to be made from it. This is evident from the thousands of fraudulent sites that have been popping up to take advantage of unsuspecting investors. Many scam sites provide very basic information about how to buy bitcoin on the dark web.

    Conclusion bitcoin forex scams

    People often get offers to buy them bitcoin or purchase it from local merchants at a high percentage of their Bitcoins. There are also vendors that promise to sell you bitcoin, or sellers that offer to trade at very discounted prices. This article will help you avoid bitcoin forex scams, so that you don’t end up being scammed. How to know if you’re being scammed? How to check if you’re being scammed: Check the email address they contact you. If it’s from an obscure website, and is requesting that you send money, it’s probably a scam. You can do this by typing in the email address into google. If the email address is fake, you can send the email to the bitcoin address the scammer gave you, and the website should tell you that they haven’t received the email.