Bitcoin is a powerful financial tool. But like anything valuable, it attracts scammers. Whether you’re new to Bitcoin or a long-time holder, staying informed is essential—especially before deciding how and where to Buy Bitcoin in Canada.
At 1Bitcoin.ca, client safety is paramount. We will never contact you outside our secure dashboard chat or official emails ending in @1bitcoin.ca. We do not use Telegram, WhatsApp, or third-party agents. If anyone claims otherwise, it is a scam.
Below are the most common Bitcoin scam types—and how to avoid them.
1. Phishing Scams
What it looks like:
You receive an email, text, or DM that appears to be from a trusted platform, urging you to click a link and log in.
What’s really happening:
The link leads to a fake site designed to steal your credentials and drain your wallet.
How to avoid it:
- Never click links from unsolicited messages
- Always verify URLs carefully
- Never share passwords, 2FA codes, or seed phrases
2. Fake “Traders” and Investment Scams
What it looks like:
Someone promises guaranteed profits or claims they can trade Bitcoin on your behalf.
What’s really happening:
They take your Bitcoin or direct you to a fake platform.
How to avoid it:
- No one can guarantee returns
- Never give Bitcoin to someone to “invest” for you
- If it sounds too good to be true, it is
This type of scam disproportionately targets people with larger balances, which is why individuals with meaningful allocations often prefer structured guidance through Bitcoin for High Net Worth Canadians rather than informal online contacts.
3. Impersonation & Giveaway Scams
What it looks like:
A post or video claims a celebrity—or even 1Bitcoin.ca—is giving away Bitcoin if you send some first.
What’s really happening:
There is no giveaway. Any Bitcoin sent is gone forever.
How to avoid it:
- No legitimate giveaway requires you to send Bitcoin first
- 1Bitcoin.ca will never ask you to send funds to receive more
4. Tech Support Scams
What it looks like:
You search for wallet help and are asked for your seed phrase or remote access.
What’s really happening:
They steal your private keys and drain your wallet.
How to avoid it:
- Never share your seed phrase
- Only use official support channels
- Remember: if someone asks for keys, it’s a scam
5. Romance Scams
What it looks like:
An online relationship gradually leads to financial requests involving Bitcoin.
What’s really happening:
Emotional manipulation is being used to extract funds.
How to avoid it:
- Be cautious with financial requests online
- Pause and get a second opinion before sending money
6. Ponzi & Pyramid Schemes
What it looks like:
You’re promised passive income for recruiting others into a “Bitcoin opportunity.”
What’s really happening:
It’s a pyramid scheme that collapses when new money stops.
How to avoid it:
- If it emphasizes recruitment over real value, avoid it
- 1Bitcoin.ca is a direct brokerage—not an MLM
7. Malware & Fake Wallet Software
What it looks like:
You download a wallet or plugin and your Bitcoin disappears.
What’s really happening:
Malicious software steals your seed phrase.
How to avoid it:
- Only download wallets from official sources
- Use hardware wallets for larger balances
- Keep devices secure
8. Fake Exchanges & Withdrawal Traps
What it looks like:
A platform accepts deposits but blocks withdrawals.
What’s really happening:
The site exists only to steal funds.
How to avoid it:
- Use reputable, transparent services
- At 1Bitcoin.ca, you receive Bitcoin directly to your wallet—we do not custody funds
Final Thoughts
Scammers thrive on urgency, secrecy, and confusion. Bitcoin security starts with skepticism and self-custody.
Rule #1: If someone else controls your keys, they control your coins.
Rule #2: If you’re being rushed, slow down.
If you believe you’ve been targeted or scammed, report it immediately. In Canada, contact the Canadian Anti-Fraud Centre.
As with all aspects of Bitcoin, understanding the full lifecycle matters—from acquiring safely to holding securely, and eventually knowing how to responsibly Sell Bitcoin Canada when appropriate.
When in doubt, don’t send it out.
