With the price of bitcoin heading to the moon again we’ve had a surge of enquiries from people looking to grab a slice of the popular cryptocurrency but wary of getting scammed.
With the price of bitcoin heading to the moon again we’ve had a surge of enquiries from people looking to grab a slice of the popular cryptocurrency but are wary of getting scammed.
Crime follows money and bitcoin has become a magnet for crooks the world over because of the huge sums of cash involved due to the surging price of the coin.
Barely a day seems to go by without another report of a massive bitcoin heist or a pyramid/investment scheme that’s relieved thousands of their hard earned satoshis.
It’s the latter that still seems to catch many people out so if you’re looking to earn free bitcoins without any financial risk then read on to learn how to navigate the minefield of misleading adverts and websites.
A very simple and risk-free method of acquiring cryptocurrency such as bitcoin is by using what are known as faucets, such as Moon Bitcoin. Read our guide to faucets to get started, then head over to our best free faucets page to start collecting coins.
These are websites which dispense small amount of bitcoin for free in return for your visit – basically they’re bribing you to keep returning to the website to view advertising.
You don’t have to click anything to earn your coins, but the site owners hope that a small percentage of you will, thus making them a profit over and above what they’ve paid out.
However, crooks have cottoned-on to how popular these sites are and are flooding them with adverts for get rich quick schemes which promise to double or even treble your bitcoin within a couple of days.
Common sense would suggest that this is not a realistic profit margin and, if it were possible, why aren’t the site owners keeping this miracle earner to themselves?
The answer is pretty obvious – it’s a scam. They entice people who are perhaps unfamiliar with the world of investing to part with their coins with the promise of huge pay-outs. But, when the unsuspecting user asks for their money, the scam becomes clear and often the owners vanish and the site is shut down.
Don’t be fooled by the professional web design, UK registered offices and a certificate of incorporation as a UK business – these are all part of the ruse.
Amazing looking web templates are cheap and easy to set up and anyone can buy a PO box and register a business at very little cost, but all these things give a veneer of legitimacy to the scam sites.
The key here is to follow the age-old advice – if it sounds too good to be true, it probably is.
So, remember, you can legitimately earn free bitcoin through faucet websites, just be wary of some of the adverts they carry. Not all are scams, but many of them are so proceed with caution to avoid getting ripped off.
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