A Seller’s Guide to Avoid Scams in the Crypto Space

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A Seller’s Guide to Avoid Scams in the Crypto Space

With the ever growing adoption of cryptocurrencies compounded with its anonymity nature, there bound to be people attempting to scam innocent investors of their cryptocurrencies. Follow our tips here to minimise your risk of being scammed.

1. Use unique email addresses

We have all been there, stuck in the dilemma of taking the troublesome but safer route of signing up for a new email for your important financial services such as your e-banking account or taking the easy way out to use the same email address for everything.
To avoid security breach or to increase your personal cyber security, it is recommended that you not only use an unique email for your account at Bitprive, but also to use unique passwords so that when your Facebook credentials or PSN credentials are compromised, your cryptocurrencies are not at risk of being stolen.
However, losing your account is also a very troublesome process of recovery. At Bitprive, we have an establish system of how one can recover the lost account info, visit out Bitprive FAQ for more information.

2. Beware of con artists

A common way for scammers or con artists to steal your credentials is to pretend to be a service provider and ask you for your login password. At Bitprive, we will never ask you to disclose your password via email, phone, or any other means.
Sometimes however, moderators at Bitprive will indeed contact you via email. Our moderators will only contact you via official email addresses which end with @bitprive.com. If you question the validity of the email, do not open it and contact our support staff or moderator and ask for clarification.
If you suspect that you’re dealing with someone pretending to be us or our moderator, please get in touch with us immediately via live chat or email us at [email protected]

3. Two-factor authentication (2FA)

Trust us, it takes you a few minutes to set up, it will make your life much easier for a long time. Two-factor authentication (2FA) is a security process which requires users to provide two means of identification before accessing their account. The two levels of security are your password and a unique special code generated by an authentication app, installed on your smartphone.
At Bitprive, we have implemented 2FA for you. Please visit our FAQ to know more about 2FA.

4. Keep your invoices

As you are aware, at Bitprive we accept hundreds of payment methods, each payment method would have different proof of purchase.
For example, if you are accepting bank transfers the proof of purchase would be the payment or transaction slip. Let’s say if you are paying with a gift card, the proof of purchase would be the code at the back of the giftcard.
Regardless of payment methods, you should always keep a good record of your proof of purchase. To know more, please visit our Bitprive FAQ on how to trade safely.

5. Make sure you follow instructions

At Bitprive, we believe in decentralization and financial autonomy. We will never interfere with the buyer’s or seller’s terms. As a seller, if you have found a buy offer and have agreed to sell your crypto according to the buy offer, make sure you comply with the buyer’s instruction completely to avoid any complications.
However, if you are not happy with the buy offer, either because of the price, or the way the deal is to proceed, you can also create your own sell offer instead of taking up a buy offer and not following the instruction.
When creating your sell offer, make sure the terms are concise and precise. To learn more about how to make good sell/buy order, please visit our Bitprive FAQ.

6. Filing disputes

We acknowledge that in life, it doesn’t matter how safe you are, if something can go wrong, it might actually go wrong. When it happens, make sure you follow our Bitprive dispute resolution process.
Visit our FAQ to learn our dispute resolution process now.

About Bitprive (BPVE)

Bitprive is a Blockchain startup focusing on developing a regulated global cryptocurrency OTC marketplace with 180+ popular payment methods in the world.

Verified users can list buy and sell offers on the Bitprive platform for multi-cryptocurrency trading with a wide range of digital and physical payment methods. On top of providing the platform technology and matching services, we also provide the BitEscrow Network where crypto is held in our Bitprive hot wallet before the payment is confirmed. Once the seller confirms payment, Bitprive releases the crypto from the BitEscrow Network to the buyer’s Bitprive wallet.

At Bitprive, we value security and efficacy.

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