How did you acquire your first Bitcoin?

[Heatman]

There are two reasons for getting scammed, one, you are very greedy and want to take a short cut road to success. Therefore, when you see an offer, you just grab it and get scammed. And two, you are ignorant, you do not research and try to find whether the offer is reliable or not.

Whenever you are too quick to jump into any kind of Investments, there is always a high possibility of being wrong because without making research, there is no way you can be able to know if that kind of investment project is something that is not a scam.

There is always an information out there which can help you to know whether you are making a right decision or not with regards to any kind of investment.

 

[Nomad]

When it comes to cryptocurrency, everything happens online, and when you are doing busines online, you are prone to scams. These days most of online scams happens with crypto currency. There are a lot of legit ways to invest in crypto yet people continue to fall into the trap.

 

[Heatman]

When it comes to cryptocurrency, everything happens online, and when you are doing busines online, you are prone to scams. These days most of online scams happens with crypto currency. There are a lot of legit ways to invest in crypto yet people continue to fall into the trap.

Yeah, that's very correct. The reason why most of these scammers prefer to make us of cryptocurrency to receive their money is to stop any kind of trace without leaving any money trail to follow. They don't want to deal with PayPal charge back. It's why they will never be interested in using PayPal.

 

[Ja Sa Bong]

When it comes to cryptocurrency, everything happens online, and when you are doing busines online, you are prone to scams. These days most of online scams happens with crypto currency. There are a lot of legit ways to invest in crypto yet people continue to fall into the trap.

If they scam you through cryptocurrency, they will have nothing to fear. You cannot not sue them or even find them. Government fight cryptocurrency as a result of this security feature and blind it gives to users. I don't like it either. I would like for there to be a means to track cryptocurrency transactions.

 

[Heatman]

If they scam you through cryptocurrency, they will have nothing to fear. You cannot not sue them or even find them. Government fight cryptocurrency as a result of this security feature and blind it gives to users. I don't like it either. I would like for there to be a means to track cryptocurrency transactions.

Well, according to the article I found on Binance - one of the leading cryptocurrency exchange in the world, cryptocurrency transactions can actually be traced and linked to individuals or entities making use of blockchain analytics tools and patterns of behavior.

You can read the whole article here.

https://www.binance.com/en-NG/feed/post/597905

 

[Ja Sa Bong]

Bought it on PayPal when they first started their cryptocurrency purchase option. I purchased $20 in Bitcoin, $20 in litecoin and $20 in another coin, so $60 in total invested. A year later I had like $20 left, so I cashed out lol.

PayPal was supposed to help those who purchased cryptocurrency on their application to manage it according to what I read but it doesn't look like what they did with you. This experience will make it hard for you to buy any cryptocurrency using PayPal or did you give it a second try?

 

[Nomad]

If they scam you through cryptocurrency, they will have nothing to fear. You cannot not sue them or even find them. Government fight cryptocurrency as a result of this security feature and blind it gives to users. I don't like it either. I would like for there to be a means to track cryptocurrency transactions.

While small scammers cannot be booked by law, individuals, and businesses who are involved with big scams can be certainly booked by law. The latest examples are the creator of Terra Luna and FTX exchange. One of the main reasons why people get scammed is because they do not study the terms and clauses before investing their money.

 

[kirubel]

I received my first Bitcoin as a payment from a site called Blogjob. It was a Canadian article site that paid via Bitcoin if you had $100 or more in your account. I received 0.25 BTC in February 2016. I worked on the site for almost a year until it closed its earning program. I made $200 or 0.50 BTC in total. In 2016, the value of Bitcoin was $400 per coin.

Wow your first payment was huge, i remember my first bitcoin payment, i start crypto hustle from faucet and ptc sites and as you know they don't pay good money, i have to wait 1 hour in order to get less than 0.0001 cent, and it took me long time to withdraw my earning and the first payment was 10,000 satoshi and i think its around 1$ and i was so so so exited to make money online.

 

[Heatman]

While small scammers cannot be booked by law, individuals, and businesses who are involved with big scams can be certainly booked by law. The latest examples are the creator of Terra Luna and FTX exchange. One of the main reasons why people get scammed is because they do not study the terms and clauses before investing their money.

Unfortunately, most people doesn't care to read the terms and conditions of anything before investing their money. I have been on the same lane as well. It's only when things start getting crazy that most of us go back and start looking at the terms and conditions but by then, it's already too late.