If you want to learn more about my take on cloud mining read this post. These sites can be categorized mostly as scams or HYIPs high yield investment programs. What these sites usually do is they take money from people around the web and promise to give them good returns.
They will then start off by paying these returns through money they get from new sign ups and create a big buzz around the site. Usually they will also have some sort of referral program so that users can bring in their friends.
Blockchain Basics: What Are You Investing In?
No more payments will be made and a lot of people will get mad that they got scammed. I have reviewed many Bitcoin investment sites in the past 3 years e. Any site that promises you something that is too good to be true is probably just a facade for scammers trying to steal your coins.
How can you find out if a site is a scam for yourself? Easy, use our Bitcoin scam test tool. So should you invest in Bitcoin? Like I said in the beginning, start by educating yourself. For example, speculation about the Chinese Yuan devaluating has, in the past, caused more demand from China, which also pulled up the exchange rate on U.
How to Invest in Bitcoins and Where to Buy The difficulty of buying bitcoins depends on your country.
Why Invest in Bitcoin?
Developed countries have more options and more liquidity. You can use our exchange finder to find a place to buy bitcoins in your country. Find a Bitcoin Exchange How to Secure Bitcoins As with anything valuable, hackers, thieves, and scammers will all be after your bitcoins, so securing your bitcoins is necessary. Ledger Nano S — Ledger is a Bitcoin security company that offers a wide range of secure Bitcoin storage devices. Read more about the Ledger Nano or buy one. It generates your Bitcoin private keys offline.
Bitcoins should only be kept in wallets that you control.