There are many reasons to believe that Bitcoin is a scam. First, it’s an entirely decentralised digital currency. The entire system records each transaction on a public ledger called the blockchain. Consequently, it’s completely free from a central governing body. Because of this, every transaction is completely private and secure, making it nearly impossible to forge or steal. Second, anyone with a computer and internet connection can use Bitcoin, which means that it’s also extremely easy to steal.
Of course, there are also many legitimate Bitcoin merchants. Some of them are even regulated by your state or country. If you’re thinking of spending your cryptocurrency with an exchange, always do your research and check the company’s track record. You can also refer to this article if you run into a scam. Then, you can continue to use your Bitcoins without having to worry about losing them. However, there are a few things you can do to protect yourself from being a victim of bitcoin scammers.
Another way to tell if Bitcoin is a scam is to keep an eye out for these “odd jobs” that pop up on your screen. The biggest scam is the ‘Old School’ style – these con artists target elderly people and ask them to send Bitcoin to them in order to get a government grant. Obviously, this is a huge scam because they can’t legally demand money, and this isn’t what you want.