Current Date:August 10, 2022

Bitcoin Scam

Bitcoin has been one of the hottest topics in the last year. Value of 1 Bitcoin went from NZ$ 1000 to $15000 in one year from jan 2017 to jan 2018.
With so much hype and market fluctuations everyone is interested to invest and know more about this cryptocurrency.
The bad news is that the scammers and criminals know that everyone is interested and hence the scams related to bit coins have increased enormously in the last few years. We will be covering a lot of stories and scams and keep kiwis informed and alert them of the latest scams.
This post is for newbies looking to invest in bitcoins or other crypto currencies.
Since everyone is talking about bitcoins and want to be part of the crypto currency there are hundreds of websites offering bitcoins for sale through safe payment methods. A lot of these websites look legit and professional but are designed to fool you.
PLEASE DO proper research before investing your hard earned money.
HERE are some things to consider when buying Bitcoins online
Check if they have a contact page. Always contact them and ask your questions and notice how much time they take to respond.
Check available payment methods.
NZ bank transfer is by far the safest option as you know the seller is in NZ and has a valid bank account.
Avoid cash transactions especially of larger amounts.
Be wary of credit card payments and only proceed when you are 100% sure about the website .
Always search the name of website with words such as scam, fake etc. in Google to see if you get any HITS about scams related to that website.
Always check the current bitcoin value and if someone is offering a cheap deal which sounds too good to be true it is more likely a SCAM .

Please post your comments and questions. Please report any suspicious bitcoin websites below and also share your stories.