Social Media

Common Bitcoin Scams And How to Avoid Them

August 16, 2017 By Alexa Mason Leave a Comment

How do you know a given technology has arrived? When the scammers start to show up. Since the introduction of Bitcoin in 2009, nearly $11 million has been stolen in numerous bitcoin scams. Despite having been prominent in the news, many people are still not familiar with digital currencies and can’t recognize common Bitcoin scams when they see them.

For investors who want to safely get into Bitcoin, this is the article for you.

There are a lot of different bitcoin scams. This article discuss four: fradulent wallets, brand impersonators, fake mining operations and Ponzi schemes.

1. Fraudulent Wallets

A fraudulent wallet is a Bitcoin application designed to look official in order to steal from you. Numerous fraud Bitcoin wallets enter and leave the market every day from credible stores on the Android and Apple platforms. These wallets upload malware along with their bogus application, allowing hackers access to critical information like your bank account and any Bitcoins you obtain. One way to avoid fraudulent wallets is to go with a well-known application like Ledger Nano, Trezor or Coinbase. You can also ask around.

2. Brand Impersonators

Brand impersonation is commonly used in Bitcoin scams. The scam works like this: a scammer sends a clickbait type message on social media. The message appears to come from a legitimate source. The message directs the user to a site which appears to offer a useful service. The site will then entice the user to enter in their private Bitcoin key. Once the user enters a key, it is stolen and the scammer will be able to spend directly from the user’s Bitcoin wallet. See the graphics below for examples.

Source: ZeroFox

The social media security firm, Zerofox.com, found over 40,000 brand impersonator social media profiles, gathering their research from platforms like Facebook, Twitter, Instagram, LinkedIn, Google plus, and Youtube.

3. Fake Mining Operations

Nearly all Bitcoin mining operations have been called scams at one point. To clarify, a fake mining operation is defined as one that takes payments from “investors” but never actually mines Bitcoin. Usually the best way around fake mining operations is to avoid getting involved in the first place. Exercise due dilligence. Red flags for fake miners are:

Newly registered websites with hard to identify ownership
Companies registered in locations with weak identity requirements
Evasion when asked to show proof of equipment
Initial payouts which stop and do not resume
Emphasis on marketing and promotion over operations
Advertising on channels which do not verify credentials.

4. Ponzi Schemes.

A Bitcoin ponzi scheme is an operation, website or organization which falsely markets itself as engaging in cryptocurrency investing or other activity. In reality, these organizations collect money from users and pay out returns for a period of time. After a while, the fake organization stops paying out and user’s funds are stolen. In cryptocurrency, these are usually “mining” schemes which collapse when users stop buying fake mining contracts. How can you avoid Bitcoin ponzi schemes? According to the SEC, the official characteristics of a Ponzi scheme are:

Source: SEC.gov

Avoiding Bitcoin Scams – Get Educated

Every investment in digital currency contains an element of risk. If you’re willing to take the risk, the best strategy is to educate yourself on how blockchain technology works. In case you aren’t clear – blockchain technology is the methodology underling Bitcoin’s value. A good resource is to check out Brock Pierce crypt currency expert. Pierce is an interesting guy, he was a child actor and appeared in the films Mighty Ducks (1992), Mighty Ducks 2 (1994) and First Kid (1996). In later life Pierce went on to become a leader in the Bitcoin community. Here is a great video where he walks you through the logistics of blockchains and how they work in today’s economy.

If you want to invest more into Bitcoin and stay safe, this video will help.

Ever run into trouble with digital currency? If so, leave us a comment below.

Photo credit: Sean MacIntee

10 Best Personal Finance Apps

July 12, 2017 By Mary Newton 1 Comment

Modern lives center around cell phones, so it only makes sense that our financial lives should as well. But how can you decide which financial apps are best for you? Here is a list of the ten best personal finance apps available.

Best Free Personal Finance Apps

Stash Invest

Stash offers a simplified approach to investing. You can start with an investment as low as $5, as well as receive personalized guidance for your investments. Stash also offers financial and investment education for users looking to learn more about investing. Stash is free on both iTunes and Google Play.

Mint

Mint offers a one-stop-shop for all your personal finance needs. It helps you track and pay bills, budget, track investments, and even check your credit score. Mint is free on both iTunes and Google Play.

Robinhood

Robinhood’s platform offers free stock trading for users. Their fast execution and real-time market data allows users to keep track of stocks and trade at opportune moments. Robinhood is free on both iTunes and Google Play.

Paribus

Paribus is a finance app that helps you “find” money. Essentially Paribus scans your inbox that you use for online shopping. Once the service has scanned all your receipts it checks price match guarantees, other deals and even if the item went on sale shortly after. Then Paribus contacts the company about you getting your money back. You don’t lift a finger. Paribus is free on iTunes with a Google Play app in the works.

Personal Capital

If you are an investor you may want to turn your attention towards Personal Capital. Personal Capital can give you a snapshot of your investments, savings and even help you plan for retirement. Personal Capital is free on iTunes and Google Play.

Best Paid Personal Finance Apps

Not all personal finance apps come for free though. Some apps are a bit more involved and, therefore, cost a little more than others. In some cases, though, it may be worth it.

BillMinder

BillMinder organizes your bills with reminders so you are always paying bills on time. You can also track where your money goes with comprehensive charts and graphs. The app even offers syncing capabilities across households. BillMinder is $1.99 on iTunes and $2.99 on Google Play.

Pennies

Pennies is an everyday money tracker that provides you with daily budgets. It helps you keep track of your spending health, as well as offering syncing across all devices and compatibility with any major currency symbols. Pennies is only available on iTunes for $3.99.

HomeBudget with Sync

HomeBudget tracks expenses, income, bills due, and account balances. The app offers budgeting support and analyzes your expenses and income. All of its features are integrated, and the app has a Family Sync option, which allows a group of devices within the household to exchange information and work within a single budget. HomeBudget with Sync is $4.99 on iTunes and $5.99 on Google Play, and also offers a free version with limited features on Google Play.

Money Pro

Money pro offers bill planning and account tracking, and can be used at home and even at businesses. Among its many features are account reconciliation, split transactions, detailed reports, and multiple profiles. Money Pro is $4.99 on iTunes and free on Google Play.

Income OK

Income OK is a basic app that allows you to input your income and expenses. It also has a partner app, Expenses OK, which just offers expense tracking. Income OK also offers a widget feature for easier access to information and input capabilities. Income OK is only available on iTunes for $0.99.

With so many apps out there, it is difficult to know which ones are best for you. Try downloading some of the best personal finance apps out there, and you are sure to find the right fit for your financial needs.

Looking for other great products? Check out our reviews:

10 Best Frugal Living Blogs

July 5, 2017 By Mary Newton Leave a Comment

Frugal living blogs are all over the internet, making it difficult to keep up with every single one. But how do you choose which blogs to follow? Check out this list of the ten best frugal living blogs and what makes them so great.

1. WiseBread

WiseBread has been around for a while, and age certainly keeps them on top of their game. From life hacks to career advice, they have it all, entirely dedicated to their motto: Living large on a small budget. Their practical advice on a variety of finance-related topics is sure to keep you interested and informed.

2. Money Saving Mom

It is no surprise that many frugal living blogs are run by moms. This mom in particular focuses much of her blog on finding coupons and deals. She also provides grocery lists and menu plans, adding a touch of personal experience to her practical advice.

3. Mavis Butterfield’s One Hundred Dollars A Month

If you are looking for a frugal living blog driven by personal experience, look no further! With recipes, crafts, gardening tips, daily deals, and money saving advice, One Hundred Dollars a Month offers a variety of resources and tips for the frugal liver. You can rest easy knowing that all of this advice is tried and tested by Mavis herself!

4. Living Well Spending Less

This blog is quite the eye-catcher, and that is a good thing. This blog covers four major topics: food, life, home, and money. It offers financial planning advice, as well as accompanying tutorials with free downloads. The blog also sells a Living Well Planner created by the founder, Ruth.

5. Budget and the Bees

This blog offers practical and varied financial advice, covering topics from money to travel. It is a great one-stop-shop for those seeking practical financial advice.

6. Money Crashers

Money Crashers posts articles in a variety of categories and from a variety of writers. Whether you are a busy mom or an artist looking to sell your work online, this blog has an article for you.

7. SquawkFox

The coolest thing about SquawkFox is that the blogger, Kerry K. Taylor, is not just a blogger. Taylor has been around almost as long as Wise Bread, and has an amazing career background in finance advice. She is a speaker and a consumer expert. She has done TED Talks, has her own YouTube channel, and even wrote a book on saving money. If you are looking for professional advice, SquawkFox is definitely the place to get it.

8. The Simple Dollar

One unique thing about this blog is that it is male-driven. Many frugal living blogs are run by women who run their own households, leading to posts about dinner recipes, updating their kids’ bedrooms, and the like. While these are all fantastic and useful topics, it is refreshing to have a varied perspective. This blog is simple and streamlined, offering frugal living and financial advice, as well as a variety of guides to help you navigate the financial world.

9. Our Debt Free Family

This blog offers fantastic personal finance advice, but perhaps its best treasure is the blog’s toolkit. From forums to calculators to suggested reading, this is a goldmine of useful finance tools.

10. Fun Cheap or Free

Last, but certainly not least, Fun Cheap or Free offers a unique perspective on a fun and frugal life. While also offering free printables and fantastic budgeting advice, this blog’s shining star is its experience-driven tips on how to have fun without breaking the bank.

These blogs offer a wonderful variety of frugal living and personal finance advice, all with their own unique perspectives. Among them, you are sure to find the perfect one for you.

If you’re interested in frugal blogs like these you may also enjoy:

Photo: Cheap Like Me

10 Ways to Save Money with Social Media

January 20, 2016 By Alexa Mason 1 Comment

Everyone is constantly looking for ways to save money. There are plenty of ways to do it, and some are right underneath your nose every day. In fact, there are plenty of ways to save money by using social media.

Offers and Giveaways

Sometimes it seems as if social media is everywhere. With so many different platforms out there it’s hard to avoid knowing about social media. But you can use social media for more than just networking or leisure time. It can be a great place to save some money since many businesses have social media accounts and are eager to connect to their customers. For instance, many companies will host special offers or giveaway for their followers. Have you ever seen those contests where someone will win a certain amount of money or a specific prize if they receive one million likes on Facebook? Maybe you’ve seen a company on Twitter offer their followers a free item if they retweet something.

Coupons and Discounts from Retailers

A lot of companies also tend to reward their followers and loyal customers by posting coupons or discounts on their social media sites. One company might post an online 30% discount code on their Twitter account. Another company might offer a “buy one, get one free” coupon for people who become a fan of their facebook page. Amazon, for example, offers followers of their @amazondeals twitter account the first glance at daily lightning deals.

Deal Bloggers

Following deal bloggers can also be a great way to save some money through social media. There are plenty of different bloggers who use sites such as WordPress, Tumblr, Blogger, Facebook, or Twitter to promote different deals, sales, and coupons that are available. Some of these deal bloggers may promote anything they come across while some focus on specific industries or products.

Contacting Retailers

Have you ever tried to call your cable company or electric company only to end up on the phone for hours? Maybe you never even have a chance to talk to someone and are left waiting in phone limbo, hoping that someone might pick up the phone and address your issues. Most major companies (and a good number of smaller, independently owned companies) have social media accounts. Sometimes it’s actually quicker to have your problems addressed by taking up issue with them on their facebook page or twitter account. Since these messages are public, they’re more likely to respond to them immediately. So if you have complaints about the $20 that was randomly tacked onto your bill or want to try and lower your outrageous cable and internet bill, consider reaching out to your provider’s social media account.

Reviews

Certain sites, such as Yelp, allow you to write reviews about businesses you’ve visited. Some people also have blogs devoted entirely to reviewing products they use or businesses they’ve visited. Sometimes reviewing can lead to free items or compensation for bad service. A company might want to be featured on your review blog so much that they offer you free products, services, or gift certificates. On the other hand, a negative review about a local restaurant could cause the restaurant manager or owner to reach out to you to try and comp your meal.

Check-In or Local Deals

If you have a smartphone, apps such as Yelp, Living Social, GroupOn, or Foursquare can help you not only save money, but potentially score some free items. Apps such as GroupOn and Living Social have location based deals that populate based on your GPS location. So, for example, if you’re hungry, you can try pulling up the GroupOn Daily Deals app and seeing what restaurants are located around you and offering a deal. Apps such as Yelp or Foursquare often offer free items, discounts, or coupons if you check into specific locations.

Networking

Networking through social media can also help you save money. Let’s say you’re looking for a new TV but you don’t really have a lot of money to buy a new one. You might log onto Facebook and find that someone is trying to get rid of their television before they move. Or one of your friend son Twitter or Instagram might have a TV they’re looking to sell for a fraction of the original price. In fact, if you have enough Instagram likes, you may even be able to make a bit of extra income.

Comparing Prices, Sales, and Brands

The great thing about social media is that you usually have all the information you could ever need right at your fingertips. There are numerous apps dedicated to comparing store prices, for instance. There are blogs dedicated to alerting you about sales going on at major retailers or offering price or sale comparison between certain brands or products.

Track Spending

Some sites, such as Tweet What You Spend, allow you to keep track of your finances to make sure that you’re staying within your budget. If you choose to use an option like this, you might want to create a separate twitter account so your friends and family aren’t privy to your finances. The site allows you to keep use your tweets to create a spreadsheet to monitor your budget or self-imposed spending limits.

Alternative Options

You can also use social media to find other ways to save money. For instance, Twitter accounts that are focused on personal finances might offer links to money saving gadgets or advice. Pinterest has plenty of lists about cheaper product alternatives or unique ways to save money. The internet is so vast that you can find a bunch of different money saving alternatives through social media.

Photo: Flickr: Jason Howie

Turkey Defied Daylight Saving Time

October 29, 2015 By Amanda Stewart 1 Comment

People who live in Turkey are confused about daylight saving. Usually the country “falls back” like many others in the Eastern European time zone (EET) on the last Sunday of October. The country planned to change its clocks on Sunday, Oct. 25, but the Turkish government decided to postpone the changing of the clocks until after elections. The change in the time change has many people in Turkey asking, “What time is it?”

Elections are being held in Turkey on Nov. 1 and the Turkish government wanted to make sure that it was still light out when voters went to the polls. The country is no stranger to postponing time changes. The government has done it in the past citing important national events.

Many of the digital time keepers, like computers and cell phones, have made the time change really confusing for the people living there.

Many of them have taken to Twitter and other social media to ask, “What time is it?” Others have named the odd time change “Erdogan time.” They have started calling the delayed time change that after their president, Recep Tayyip Erdogan.

“For the next two weeks #Turkey is on EEST… Erdogan Engineered Standard Time,” said @aysekarahasan on Twitter.

One especially annoyed Facebook user said, “We’re on special ‘Erdogan time’ as he decided not to implement daylight savings until after the election. Unfortunately, while he CAN hold back time, he CAN’T hold back automatic clocks which seem to have gone ahead and changed the hour regardless. Hence we’re all very confused.”

While the delay in time change is frustrating, there is a way to override the automatic time change on your phone. You can turn off the automatic reset in your phone’s settings.

In the U.S., Daylight Saving Time will end on Nov. 1. There won’t likely be any confusion in America except for the adjustment to sleep schedules with the extra hour (trying to stay up a little bit “later”). Take a look at the DST changes around the world here.

Facebook’s Ad Revenue Sharing Faces Backlash

October 19, 2015 By Lilian Nwa 1 Comment

To encourage publishers to use Facebook to distribute their content online, Facebook is allowing publishers to “keep all the revenue from certain advertisements,” as reported by The Wall Street Journal. As well, Facebook hopes to bring this content to audiences faster using its newest development, Instant Articles.

Currently, it take approximately 8 seconds for links opened on a mobile device to become visible. To Facebook, that’s too slow. Instant Articles aims to shorten wait time by not rerouting users to another domain. They can stay right on Facebook. Already, the company plans to start hosting content from companies such as BuzzFeed, the New York Times, National Geographic and others.

Despite what may be seen as Facebook’s altruism towards publishers and its users, Tech Times warns that the move “isn’t only for users.”

As the report on Instant Articles continues, “The social media network will likely end up making money through other advertising means because of the fact that users will not be directed to a different site and will instead stay on Facebook.” As well, some publishers are wary of associating themselves too tightly with Facebook via Instant Articles. Already, research cited in the WSJ showed approximately 60 percent of the Big Web publishers get referrals through Facebook. Additionally, if users stay on Facebook exclusively with the implementation of Instant Articles, some publishers might lose referral traffic to their own websites.

For now the revenue-sharing agreement is meant to entice those who might otherwise be skeptical of this new venture. As carefully described in PC Magazine, “If publishers let Facebook host the content, they’ll get to keep all of the revenues from ads… If Facebook takes care of the advertising, then the revenue returns to the 70-30 split (publisher-Facebook).” Beyond lost traffic, hosting content on Facebook might also mean publishers will be unable to obtain important statistics about their readership. Facebook perform the types of analyses and keep much of the data private.

Currently, it is unclear when the new development will be available to publishers, but some believe it might be very soon. Interestingly, CNET recently reported that Instant Articles is not the only new development at Facebook. The company is also testing a feature that will enable users to prioritize the updates of specific friends, giving people more opportunities to remain on the site.

The future of web publishing remains up in the air. Writers have more options for reaching readers than ever before: ebooks, a blog hosted on another website (like Facebook), their own website or traditional publishing. The internet is changing. The influence of social media keeps growing and growing. It’s a question every writer must ask: “Should I host my own content, get a publisher or put my content on someone else’s website?” There are benefits to all options. However, Facebook would do well to get 30 percent of all revenue generated my someone else’s content. Facebook definitely knows what its doing by now.

Zooming out, is it even appropriate that Facebook have such a control over the internet? So much content being in one place could have negative repercussions. What do you think?