What are the most common Bitcoin scams?

Some of the most common include blackmail, fake exchanges, fake giveaways, social media phishing, copy-and-paste malware, phishing emails, Ponzi and pyramid schemes, and ransomware. Let's briefly discuss each of them so you can learn how to avoid the most common Bitcoin scams and keep your cryptocurrency holdings safe and sound.

Is bitcoin a scam?

When it comes to Bitcoin fraud, the strengths of cryptocurrency are turned against the victims. “Bitcoin-related scams track with other criminal exploits online until you try to recover your assets,” said cybersecurity expert Adam Levin. “Cryptocurrency is designed to be hard to track and even more difficult to recapture.

What are the most common Cryptocurrency scams?

There are several cryptocurrency scams in the blockchain space. Some of the most common include blackmail, fake exchanges, fake giveaways, social media phishing, copy-and-paste malware, phishing emails, Ponzi and pyramid schemes, and ransomware.