Crypto Scams On The Rise

Bitcoin's is quickly gaining popularity and anyone could tell it was jast a matter of time before fradulent crypto-scams desguised as get-rich-quick scams hit the markets. In fact, the UK Regulator FCA recently made a public statement about how fancy cars and Rolex watches are used to convery the type of carefree lifestyle which can easily be achieved via Bitcoin, the new virtual currency which is very attractive to many.

How Do Crypto Scams Work?
In essence, various online promoters latch on to certain offers which they believe will attract the most visitors and start endorsing them via reviews, popup ads, or email marketing. Hyped up and exaggerated claims of easy money, inflated bank accounts, and fake testimonials are just some of the unsavory sales tactics employed by crafty online marketers in order to bait unsuspecting victims.

Why Am I Being Targeted?
Crypto scams can also take the form of automated trading systems. Innocent or uninformed would-be traders and opportunity-seekers are always looking to cash in on a legit crypto offer, so they sign up for offers. Eventually victims start receiving spam or text messages which are sent out to their smartphones or mobile devices asking them to join a certain program.

The Sales Pitch
Hello! You have been selected to join our Beta Testing Group! Here’s is your chance to get in on the crypto revolution and started generating consistent income to the tune of $1,300 an hour using the Bitcoin Secret Loophole. This is the most used sales pitch, and it is usually accompanied with inflated figures and fake testimonials.

How Much Money Are We Talking About?
Recent data shows that financial scam and fraudulent trading software such as Bitcoin Code are responsible for defrauding unsuspecting victims out of £50 Million each month! And that’s only in the United Kingdon, so scammers and thieves are investing heavily in crypto scams and that is because their gains are very high. This grim reality is not getting any better with time as we know for a fact that more and more victims are entering the crypto loop without any previous knowledge or understanding of the markets and this turns them into easy prey and more susceptible to fraudsters looking to rip them off.


How Do The Scammers Make Money?
Usually there is a revenue or profit share scheme where the promoters take a certain cut of the money which is invested by the customers they referred. This is a very common scheme and usually involved new product launches which create a buzz and are very marketable.

Solemn Conclusions
In order to avoid these new get-rich-quick crypto scams it would be wise to learn and teach yourself about bitcoin and do your research. Catching up on trusted reviews and asking your friends or relatives opinion will usually save you a pretty penny. As always, whenever considering joining a new program a grain of salt and a healthy dose of skepticism will go a long way and help you in making the right decision.