I'm writing this from experience, especially for those who are just joining the crypto world and have little idea of how to acquire the different crypto coins we have. This article is aimed at helping safely secure any coin you are interested in buying without being scammed.
The economy of the world, aside that of the United States and China are going through very unstable and turbulent times. Many people in the bid to make money are seeking out ways whether legit or not, to make it.
Online transactions are being currently bugged because most platforms do not have security firewalls that ensure that only legit and properly confirmed individuals operate on their platform.
Cases of people being duped of money or coins when trying to procure either Bitcoin, Ethereum, Bitcoin cash, etc., are on the rise, and here is what you should do to not be scammed.
Do not buy crypto coins of any type on Telegram. Telegram is free for all platforms and it's meant for large groups that can not be contained on WhatsApp. Fraudsters utilize the lack of adequate KYC by the platform to dupe people.
This is how they scam people on Telegram:
First, you get added to a group, without your consent.
Then someone will post something like 'I have $100 BCH or BTC or Ethereum for sale.
Once you indicate interest, the person will call for the Admin that will supposedly mediate the transaction (serve as a middle man).
The admin called Escrow will send the account details which are mostly not traceable because they either used a stolen bank account, an unsuspecting friend or family account, or an online payment platform like Paycom, etc.
Once you pay and they confirm it, you will be exited from the so-called group and you will never be able to find the group, except when you get added by them again.
The funny thing is, one or two persons might be the ones handling the account. They know each other and work hand in hand. They will be the ones writing fake testimonies about the credibility of the group by themselves.
They will post something like "l have gotten my BCH or BTC thank you". It's all a lie, they are just trying to make you believe that they are legit.
One other thing to note is, the error sign popping up on the group indicates that someone was scammed and was laying a complaint of not receiving either BTC or money (in case the person wanted to sell BTC) it the individual tried to warn others after writing scam on the group. The error message is showing because the person's chat got deleted.
Nigerians fall victim to such on a daily, maybe other countries do too. Even when you see an international phone number, don't get carried away, because they are Africans who live abroad, and many western people are into scamming too.
Please buy from legit platforms like Luno, Remitano, Busha, etc are good places to buy any type of BTC from. Share this article with friends, and family, so that they do not fall victim.
Lastly, just don't transact money on any social media platform, especially cryptocurrencies. If the aforementioned platforms can't sell to you, please be patient. If you have ever been scammed, share with us how it happened. Thank you.
