Entering the Wild West of Bitcoin, it’s almost a right of passage to have some of your funds stolen or lost, with scams being a satoshi a dozen. Very few of us fall down the rabbit hole without making mistakes, taking on some losses; some say losses, but I say costly lessons.

I completely understand why so many people get scammed in this space; if you’re walking in without the willingness to learn, you’re walking into the casino with a sign around your neck saying take my money.

I mean, look at everything below Bitcoin on Coin Market Cap and CoinGecko, actively promoting themselves, and those are only the most popular scams masquerading as tokens projects; as you dive deeper into the space and go further down the risk curve, past the larger cap dog coins, that’s where you find the natural dog shit.

This is where the scammers make all the money.

It’s impossible to track and mention every scam running; there’s a new one popping up every day with the sole aim of suckering in as many victims as possible before going rogue, rug-pulling their domain and social accounts and leaving you high and dry.

These scams usually involve sending some “company” Bitcoin, and somehow they’re going to generate a yield on it for you; while your dashboard is up and running, you’ll see some insane APR figure “paying out”, and once you’re ready to reclaim your funds, you’ll find these scammers aren’t very cooperative.

Eventually, enough suckers catch on, and once the heat is on, they up and disappear, and this cycle will continue to repeat itself if people refuse to understand Bitcoin and how to use it for self-custody.

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