Is there an “About us” page? However, in 2017 it was the target of a sophisticated scam that saw at least three fraudulent Poloniex trading apps listed on the Google Play store. Avoiding these scams early can protect investors’ wallets. It follows the ideas set out in a whitepaper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified.

Don’t just randomly pick a wallet from the app store. This sort of thing is illegal in traditional securities markets, but is a common occurrence in the largely unregulated world of cryptocurrencies.

In a similar vein to phishing scams, keep an eye out for fake Bitcoin exchanges. Now satisfied that the scheme is legit, those investors who received payouts pump more of their money into the scheme and encourage others to do the same. I hope this helps. They have live chat support as well as contact us page. Don’t trust unsolicited emails or phone calls. The emails promise to send the incriminating evidence to all of your email or social media contacts unless you send some Bitcoin to the blackmailer, and will typically include instructions on how to purchase Bitcoin and where to send it. Web addresses should always begin with HTTPS, a sign that traffic is encrypted. Now I have 400usd on that account, when I try to withdraw they said you have to upgrade. While there are certainly risks in the market, the opportunities may be irresistible for some. No one is more crueler than the one who attains silence to injustice by choice. Please note that we are a comparison website and we can not vouch for a company as we do not represent any of the providers on our page. Be wary of low-market-cap cryptos that normally have a low trading volume but that suddenly experience a sharp price rise. These are some of the most common scams and how they can be avoided. But with a little bit of know-how and some good old-fashioned common sense, you can do plenty to protect yourself against cryptocurrency scams. "Bitcoin Eyes $18,000 as Tide Turns in Bulls’ Favor." I’m sorry to hear about the situation you are in.

In January 2018, Bitcoin investment lending platform Bitconnect shut down its lending and exchange services amid allegations it was a Ponzi scheme. However, as the difficulty of mining increases, the same investment will return smaller amounts each time. However, there have been reports that some of them have built-in vulnerabilities that open them to hackers that could easily steal all a user’s holdings.. But once they have your money these platforms might charge ridiculously high fees, make it very difficult to withdraw funds or simply steal your deposit altogether. Make sure your PC is protected against malware by keeping your antivirus software up to date.