At Bitstack, your financial safety is our top priority. Here, you’ll learn some tips on how to recognize scams, keep your account secure, and report fraudulent activity. Remember, Bitcoin transactions are irreversible and fraudsters can impersonate others. We will never ask you to make a payment. If something sounds too good to be true (like free money in exchange for a small payment or promises of guaranteed returns), it’s likely a scam.
Recognize common scams
When using Bitstack to send money, we strongly recommend that you:
Only send payment to people who you trust
Verify and double-check recipient information before sending any payment to confirm you are sending money to the correct person
Check the other person's profile to help determine if it is the correct person
Don't send money to someone promising something in the future (like free money in return or high returns on investment, for example)
Fraudsters often attempt to steal customer data and gain access to accounts by pretending to be a Bitstack customer service representative. If someone claiming to be a Bitstack service representative asks for your login credentials (email, phone number, or password), asks for you to send them money, or asks for personal information, it’s a fraudster.
No Bitstack service representative will ever ask for your login credentials over the phone, on social media, or through any other channel. Never give anyone your login credentials. Your login credentials help keep your account safe and secure from scammers and fraudsters.
No Bitstack service representative will ever ask you to send a payment. There is never a valid reason to send money to an account claiming to be Bitstack or Bitstack support. Additionally, scammers claiming to be service representatives from other companies may ask that you send money to another Bitstack account or wallet. Do not do this - it is likely a scam.
No Bitstack service representative will ever ask you to provide sensitive information like your full debit card number or your bank account information. Never provide detailed personal information to anyone purporting to work for Bitstack on any channel including the phone, email, social media, or text messages.
If you believe that you have fallen victim to a fraudulent phishing attempt or scam, please change your password immediately and then report the incident by contacting Bitstack Support.
Phishing scams
Phishers pretend to be Bitstack or another trusted entity to trick you into giving them your sensitive information, often via email or fake websites. Never enter your Bitstack login credentials on any website other than the official Bitstack site or app.
Ponzi and pyramid schemes
These scams promise high returns and require you to recruit others to join. If it seems too good to be true, it probably is. Bitstack will never promise guaranteed returns.
Pump and dump scams
Here, organizers hype up a particular cryptocurrency to inflate its price artificially and then sell it off, causing the value to plummet. Bitstack only offers Bitcoin for a reason.
Social media scams
Scammers often pose as Bitstack or its employees on social media platforms, promising giveaways that require an upfront deposit. Bitstack never conducts such activities.
Fake mobile apps
Always download Bitstack’s app from the official app stores. Double-check the publisher's name and reviews before downloading any app.
Always verify everything
Cross-reference Information
If you come across a suspicious email or website, contact Bitstack's customer support to verify its legitimacy.
Check URLs
Always check the URL when you're directed to the Bitstack site from an external source. The correct URL is https://www.bitstack-app.com. Look for the SSL certificate (the padlock icon) in the address bar.
Protect your account
Use a strong password
Always use a strong, unique password for your Bitstack account. Use a mix of characters and never reuse passwords.
Keep software updated
Regularly update the Bitstack app, your mobile and computer operating systems, and security software to protect against vulnerabilities.
Monitor transactions
Always review your account statements and transactions. If you see an unauthorized or suspicious activity, contact Bitstack customer support immediately.
Be skeptical of unsolicited offers
Never trust unsolicited offers, especially those that require immediate action or personal information. Be cautious of hyperlinks or downloads from unknown sources.
Reporting scams
If you encounter a scam or suspect fraudulent activity, report it to Bitstack’s customer support. We take such reports very seriously and will take appropriate action.
Your safety and the security of your funds are essential to us. By being informed and cautious, you can help protect yourself in the ever-changing landscape of cryptocurrency. If you have further questions or concerns, don't hesitate to contact our support team.
Stay safe,
The Bitstack Team