After months of volatility and trading in a downward zone, Bitcoin experienced what would best be termed a massive break as it saw its price skyrocket above $11,000.
Coming with this massive price surge is the hype that followed while drawing in investors from around the globe. Given the interests that the digital asset has generated, scammers are patiently waiting for gullible investors who would fall for their tricks, especially the Bitcoin doubling scam.
Bitcoin has been said to be a hedge investment against a time of trouble. It has shown that after surviving the coronavirus pandemic and even posting more profits than traditional markets in the financial sector.
Investors warned to avoid cheap Bitcoin doubling scam websites
In recent years, there have been stern warnings about scammers who use the Bitcoin doubling scam technique to defraud their unsuspecting victims.
As a result of Bitcoin presently posting good profits, some investors would be triggered by the fear of missing out and would not do a background check; therefore, getting scammed.
Under the guise of legit sites, these scammers promise people who deposit digital assets into a particular wallet of double their returns in a matter of days. As unbelievable as it is, most investors, especially newbies, have fallen for this scam.
Their first aim is to suck people in through legit ways, thereby asking for their email address or Bitcoin wallet ID before asking them to deposit some amount of digital assets in a wallet for doubling.
New Bitcoin doubling scam site promises enormous profits to investors
Anytime there is a rush like this present in the market, Bitcoin traders and investors should be wary of the kind of sites they will rush to avoid the fear of missing out.
With Bitcoin posting profits, a high number of scam websites would have sprung up, waiting for people to scam their hard-earned crypto. Previously, there was a site named Bitcoin Doubler Club that promised people who invest massive profits but ended up scanning them.
Presently, there is a new kid on the block where the Bitcoin doubling scam is considered as they possess everything that would make someone who has a good knowledge of crypto websites suspicious.
The site known as Moon Bitcoin Live stated on its Homepage that it would double investors Bitcoin in a day and boasts of already paying out an equivalent of $42 million in digital assets under 24 hours.
New investors should not have to fall for these cheap tricks to defraud them of their hard-earned digital assets because the majority of these sites use just this modus operandi.