November 25, 2020

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How to be safe with Bitcoin

3 min read
When you start to understand Bitcoin, you might be using sites such as CryptoSoft to...

When you start to understand Bitcoin, you might be using sites such as CryptoSoft to trade them. Even in Finland, the number of people who are using Bitcoin is starting to grow, and this means that we need to become more aware of how to be safe with them.

Here’s my guide on how to be safe with Bitcoin.

Avoid the Dark Web

Avoid the dark web and the deep web. At these kinds of places, people are far more likely to be selling things that they legally aren’t allowed to be selling. This can include all kinds of horrors, from drugs to dangerous animals, to weapons, and even real human slaves.

It’s a nasty world and one that you need to be avoided at all costs.

If you get caught with these things, you could end up behind bars, potentially for the rest of your life. A good rule of thumb is that if you wouldn’t buy it on your card, don’t buy it with Bitcoin.

Beware of Email Scams

We’ve all received them scam emails asking us for Bitcoins. In the past, they used to pretend to be some kind of Nigerian Prince, but today, they’ve started to become more creative.

I got one who claimed to have hacked into my laptop and the built-in webcam and managed to obtain footage of me touching myself, and was threatening to send it to everyone on my contacts list.

In return for me sending him $10,000 in bitcoins, he would delete the video. Surprisingly, I never sent that money, and my friends and family never saw what I was into.

Remember your password

Far too often, you hear these awful stories about people who have hundreds of pounds worth of Bitcoins in their name, but they haven’t been able to remember their password. And as a result, all of the money which is rightfully their’s is locked away from them.

If you’re going to get into Bitcoins, please make sure that you remember your passwords. If they become valuable, you want to be able to spend them, and not be upset because you forgot your password.

Know the seller

As you probably know, Bitcoin is more secret than a regular transaction. Whilst this can be a good thing, it can also mean that you have no way of tracking down where all your money has gone. In the past, people who have paid for things with Bitcoin have ended up not receiving their products, and the seller has been able to get away with it.

Make sure that before you give your bitcoins to anyone, you know who they are, and you’re 100% confident that you’re able to trust them.

With Bitcoin, you can’t ever be too careful.

Conclusion

So long as you’re sensible and you use your common sense, you should be fine. If you want to know more about the best places to trade Bitcoin, then try using Suomiarvostelut, a review website that allows you to look through hundreds of companies and see what their previous customers have had to say.

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