Recently I lost BTC 0.006 on a fake exchange website, while I was trying to exchange my BTC (Bitcoin) to ETH (Etherium). I would like to alert all my readers not to believe such scam websites. I’m not going to point out that particular site, because there are a lot of similar fake currency exchange websites in different names with different domain address. The concept they are using to approach the users are same.

How did I reach that scam exchange?

I always search about crypto currencies and read the related articles on the internet. Therefore, I receive lot of advertisements regarding crypto currencies. I did not know which is scam and which is legit. Without analyzing the truth, I went to exchange my Bitcoin there and I realized later everything.

Scam exchange advertisements

The advertisement I received is that “Exchange BTC to ETH through a particular exchange website (Scam) and again exchange back ETH to BTC through another particular exchange website (Scam)”. That advertisement said that we can make around 0.035 BTC per day just by exchanging currency in this cycle.

I realized both the exchanges are fake. I transferred my BTC to their address and I waited for nearly about one hour for my return ETH. But, there was no response from the site. Then only I analyzed about that site on Google and found that already a lot of users like me were lost their money there.

How to avoid fake websites?

Most of the advertisement networks are not checking their publishing contents whether it is genuine or scam. They simply approve and publish the advertisements and the same are reaching the internet user like you and me.

Whenever you take a decision with a new brand or company, please analyze about the company on Google. You can find a lot of review websites where users express their comments and experiences about the products and write their opinion whether it is scam or legit.