| Description: | Louii B is an over-the-counter (OTC) bitcoin exchange located in Toronto, Ontario with multiple locations through the GTA. We help you buy and sell cryptocurrencies like bitcoin and ethereum with the ease of a face-to-face transaction. The Merchants Portal: Accept Cryptocurrency Easy, Web-based POS, Accept multiple currencies, Connect to your wallet, Lock your rates, Issue tokens as rewards, Detailed reports, VIP liquidation rates, Profit strategy techniques, Free advertising , Since it was introduced, Bitcoin has continued to rise exponentially
beyond what enthusiasts predicted at that time. As much as it is highly
volatile and unpredictable, it is fast becoming a globally-adopted digital
currency, and unlike normal currencies, there are no central authorities
overseeing Bitcoin transactions. Once a Bitcoin transaction has been
carried out, it cannot be reversed or recovered which makes it a huge
focus for fraudsters.
Because of this, it’s important for you to be able to differentiate between
a legit Bitcoin program and a scam to prevent you from incurring a huge
loss on a valuable investment. In this article, we will be discussing the
three major Bitcoin scams and ways to avoid them.
1. High-yield investment programs (HYIP)
These programs are also known as Ponzi schemes where people are
convinced to invest with a promise of high returns. Here, old investors
are paid from the investments of new ones, and this usually goes on for a
short time before it crashes. These programs never work out since new
entrants do not get anything from their investments.
2. Fake Bitcoin Exchange
These kinds of scams usually take place on social media where you may
run into an ad saying you can buy Bitcoin for below market price. This is
just to lure you to visit their website, and once you do, if you are not
careful, you can be scammed.
3. Bitcoin phishing scam
This is when you receive an email that a particular amount of Bitcoin has
been awarded to you, but in reality, the link in the mail to claim the
award is actually to give the phisher the power to take control of the
user's wallet. |