The only safe way to double your Bitcoin in 24 hours is to purchase more coins. If an investment opportunity sounds too good to be true, it’s probably a scam. And sadly, the popularity of Bitcoin scams continues to grow with the popularity of the coin itself.
Thanks in part to “double your bitcoin” scams, the volume of crypto transactions involving illicit addresses did nearly double from 2020 to 2021. Chainalysis’ 2022 Crypto Crime Report outlines this rise in cryptocurrency scams. But the report also shows that the percentage of illicit transactions has shrunk by more than 75% in the same period.
So while it may seem like the world of crypto is still the Wild West, real-world data demonstrates that it’s far safer than you might expect. Still, it’s important to keep an eye out for investment scams to keep your coins safe. Because even the most conservative of us can start to see green when we hear promises to double our coins.
Like most crypto scams, the Bitcoin doubler scheme preys on individuals who don’t understand how cryptocurrencies (or investments in general) work. To many, crypto is still just “magic internet money.” They see reports of coins’ values appreciating by a million percent or more and assume that there must be a secret to cashing in on those gains.
But if there really were such a secret (there’s not), why would anyone advertise it? Surely, the secret to infinite riches would be guarded with the ferocity of a dragon perched on its mountain of gold. By taking a few seconds to consider the motivations of anyone offering a Bitcoin investment opportunity, it’s easy to see through the fraudulent ones.
That said, Bitcoin has proven to be one of the best investments in history. And yes, countless individuals have doubled the amount and/or value of Bitcoin they own. But they do so by purchasing coins from a trusted Bitcoin source, like RockItCoin, and waiting for the market to move.
So if you want to double your Bitcoin investment, you can do so today by buying Bitcoin with your credit card. Or, for larger transactions, consider trading crypto OTC with one of our professional crypto trading managers. Granted, buying Bitcoin won’t turn you into an overnight millionaire, but if you’re patient, there’s a strong chance that it will outperform your other investments.
To learn more about scams to avoid, stop by our crypto FAQ page. We discuss Bitcoin scams on eBay, those involving influencers, and a slew of other cons designed to separate honest individuals from their coins. Remember: if it sounds too good to be true, it probably is.