Bitcoin Mining Scam Offers Online to Earn Free Bitcoins
Bitcoin mining scam are now bombarding the internet. If you are not aware to Bitcoin mining scam, you might be the next victim. That is why Daily Investing Tips blog wants to share some tips and tricks on how to spot someone scamming using the word “bitcoin mining”. There are many bitcoin mining companies promising the members to earn bitcoins by just buying some “hash”, and automatically generate revenue from the hash power they bought.
However, companies offering bitcoin mining investment are not all legitimates. And the sad thing is, most of bitcoin mining sites are scams. So beware. In bitcoin mining, you should understand that there are cost for electricity, bitcoin mining hardwares and transaction fees.
What is Bitcoin Mining?
Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. (1)
Bitcoin Mining Scam Offers Online to Earn Free Bitcoins
We also spotted people who offers bitcoin mining scam investments. Scammers and fraudsters have the same lines or words using when they are inviting people on social medias. Such lines or words to attract new victims to invest in their bitcoin mining scam are as follows;
- Earn FREE Bitcoin with our bitcoin mining site – register for free!
- Turn your $300 into $5,000 using our bitcoin mining investment offers
- Ask me how I earn FREE bitcoin online
- etc…
And they will show you an edited proof of bitcoin payment on their blockchain.info account.
What’s the Point of Bitcoin Mining Scam?
The point is simple. Since people are getting interested in bitcoin because they already knew the value of bitcoin, they want to try anything just to earn bitcoin even without further research whether the offer is a scam or not.
Bitcoin Mining Tips and Warnings
If you want to invest in Bitcoin mining site, you need to read reviews (what other people say about the bitcoin mining company). You have to consider if the bitcoin mining site is paying or all withdrawals of profits are pending.
Also, be sure you have to learn first how bitcoin works and what is a blockchain all about.
references:
(1) https://www.investopedia.com/terms/b/bitcoin-mining.asp
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