How I got scammed out of $1000 of bitcoin

History

How I got scammed

Safe trading tips

  1. If its too good to be true, it’s too good to be true. If the price is too high, don’t bite.
  2. Avoid PayPal or any reversible payment method. EMTs are reversible as well so be careful and stick to trusted sellers.
  3. Use a clean bank account for deposits. Sometimes in the case of a arbitration you will have to provide LBC screenshots or a stamped bank statement indicating the last 1–2 days of deposits. If you have your personal details in there you won’t want to share this with others.
  4. Always verify that the sender’s name matches the deposit. If it doesn’t, reject the transfer and cancel the trade
  5. Start with small amounts to see how the trade goes. Don’t do large trades with unknown sellers
  6. Check the user’s negative feedback to see if there’s any frauds reported.
  7. Stick to trustworthy sellers that you have past experience with.
  8. Try to stick to people in your own country. Even though they can mask this with a VPN and a VoIP number, at least try to be sure you are dealing with fellow Canadians (or whatever country you may be in)
  9. Remember that there are money laundering laws in place. Laws like KYC (Know Your Customer). Be careful not to be classified as a money transmitting business operating without proper licenses.
  10. Don’t forget to report capital gains on your income tax.

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