Nowadays, Social media has become essential to every person’s life. It is used in every stream such as studying, jobs, daily requirements. Further, A social news daily is a famous Internet site that attributes user-posts information. Moreover, it is a famous station for the news related to social media. The main concentration of this site is to provide all the latest updates to the general public related to every aspect such as business, education, health, politics with the help of social media platforms. Moreover, it performed a major role in the online money transfer. People start using online methods rather than traditionally. But there are some frauds performed by the individual which hesitate people to use the online method such as Bitcoin. This frauds cause loss of money and it also become huge loss for public.
What is Bitcoin?
Bitcoin was started by the person named Satoshi Nakamoto. It is a type of electronic currency and has become very useful worldwide. With the help of bitcoin a person can easily send money or receive money by using electronic media and devices such as computers, mobile phones, laptops. In this there is no need to attach any kind of personal identity.
Issues faced by bitcoin companies
These companies are continuously trying to earn trust from the general public and announced that the method of cryptocurrency is safe to use for everyone. There is a trust issue among the general public due to the reason of fraud and thefts. The fraud creates a very bad impact on the bitcoin business because the people avoid it.
Even the companies with huge capital get worried about their investments. Due to this reason they continuously try to build trust among the general public so that they make use of the cryptocurrency method to transfer the money.
Examples of fraud
Someone created an account on twitter named block chain with followers near about 70000, whereas the original name of the account with blockchain has only 26000 followers. Here the company faces huge issues and stress.
There are many customers who use the fraud account and lose their money. Due to this reason the person did not want to use the Cryptocurrency method. After finding a fraud account the report against that account was registered and the account was stopped. Bitcoin companies try to improve their sites and try to make the customer satisfied by providing original services.
Moreover, they try continuous improvement in their web and save people from the fraud and using original sites rather than fraud. The future of the coinbase is totally dependent upon Bitcoin. If the bitcoin system id unsafe then it create a very bad impact on the businesses related to bitcoin. Moreover, there are many businesses that made huge investments in their businesses but due to the reason for different kinds of frauds they face huge losses in their capital as well as profit.
To avoid any kind of malpractice just use the bitcoin future.
Bitcoin god by becoming money lender
In every part of the world, powers are normally disbursed and considered as money lending. In the term of finance, a loan is provided to the general public and for lending money they earn a rate of profit on a monthly basis. This concept is very interesting to the public. They take money from wealthy people and that money is provided to the poor one. The poor people have no enough money to spend.
There is a fellow from Hong Kong which is very familiar. He is also familiar with the name Bitcoin god. Bitcoin god’s work for non profit motive. They concentrate on solving all the critical problems that are created by the system. This man tried to become a Robin Hood and he was arrested by the police. Local businessman from Hongkong who is the owner of a Facebook called Epoch Cryptocurrency.
He has a number of subjects such Robin Hood who thrive on money from the wealthy ones and give that money to the poor people on high interest rates. He also earned more than $38,360 from this business. Wong collage evidently contemplated him as a frauded, but he was not able to become the Bitcoin God.