Keeping your money earned!

From time to time sites have technical problems, if you have been scammed a few times (that would be me), you can get very skeptical about even the slightest problem on a site that has up to now been reliable.

So here are some tips to help you keep the Bitcoins!

  • Withdraw small amounts regularly
  • Do not hold a large balance of coin in any online system, remember Bitcoin is designed to be de-centralised, for example, with one of my mining sites I like to withdraw when it gets to 0.01 or more
  • Keep your major amount of coin in an offline wallet, back it up to the cloud, sure but keep it safe and make sure you know how to restore backups
  • If it sounds to good to be true it probably is
  • Mining sites can never mine coin faster than any other mining site, the only variants are electricity cost. So if you see a “mining” site paying out way more than other sites the chances are its a scam

Also keep records of your investments, how much you put into a site and when you put it in, then keep an account of the profits made. Otherwise sites that you think are in fact paying turn out to be a scam because they never pay you back more than your initial investment, most of the time you don’t even get that.

If you are a low risk investor, stick to holding Bitcoins in an offline wallet, if you like me don’t mind higher risk investments then use the precautions above and you should be ok.

Everything in life is a gamble and some of them pay off, the winners are those who’s reward exceeds their risk.

 

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