Bitcoin Crime – Don’t get scammed, and buy Bitcoin safely.

Bitcoin is fluctuating between $9300 and $11,000 USD per BTC today.   (give or take a few dollars).  For a real-time Bitcoin Price chart, take a look at Bitcoin Ticker.  Personally, I keep Coinbase or the GDAX open on my PC screen.


Steve Wozniak, Apple computer co-founder, got swindled out of 7 BTC by a con artist who used a credit card to buy the Bitcoin, then cancelled the credit card transaction after the Bitcoin transfer was made.  see the article on Forex Live.  This shows you that the bad guys are out there, and willing to screw anyone out of their Bitcoin.  Lesson learned?  Be extra careful when buying or selling Bitcoin.

While not as dramatic as the price running up to almost $20,000 per BTC, Wozniak’s loss of  his $5,000 invested in the Bitcoin (and the anticipated profit) is as real to him as any of us losing some cash.   It is also prompting some credit card companies to halt Bitcoin purchases using credit cards.


In the early days, you could meet someone at Starbucks and exchange cash for Bitcoin.  You would need to have a Bitcoin Wallet or the Coinbase App on your laptop or smartphone. Nowadays, with valuations so high, I would not feel comfortable carrying around large sums of cash on the street.  

If you are a newbie, I would recommend using a popular exchange (I use and refer Coinbase).  Exchanges may charge a fee, but operate in relative safety.  If you are nervous or wisely careful, read up on Buying and Selling Bitcoin.  There are some links in my blog, and you will need to educate yourself.  If you prefer to hold your Bitcoins yourself, there are lots of Bitcoin wallets, including Hardware Wallets, that hold your Bitcoin “off-line” in a disconnected piece of hardware.  You can buy Bitcoin wallets on Amazon with relative ease and safety.  The Bitcoin you buy separately.

Trezor (Black) Bitcoin Hardware Wallet Bundle With VUVIV Micro-USB Adapter, VUVIV USB-C Adapter for MacBook and Sakura Pigma Archival Ink Pen (4 items)Ledger Nano S Bitcoin Wallet Ethereum Crypto Altcoin Litecoin Ripple With MicroUSB Cable Lanyard & Zeox Stylus PenKeepKey: the Simple Cryptocurrency Hardware Wallet

Bitcoin Wallets on Amazon and EBay

Keep records of your transactions, don’t lose your hardware wallets or your passwords!  Keep them safe.  Make sure you are cautious and careful, especially when calculating fractional Bitcoin – it’s a concept that takes getting used to.  Here is an article on it from BTC Geek.


Bitcoin Trivia:

Satoshi is the smallest fraction of a Bitcoin that can currently be sent: 0.00000001 BTC, that is, a hundredth of a millionth BTC. In the future, however, the protocol may be updated to allow further subdivisions, should they be needed. A Satoshi is 0.00000001 BTC and currently the smallest transaction unit.


In closing, take care to use a known exchange; avoid anonymous transfers through credit card transactions or Venmo (they are easily manipulated/cancelled), and learn as much about your  seller/buyer as possible, if there is a problem.

Enjoy the Bitcoin roller-coaster ride, and let’s go TO THE MOON!



All rights reserved by Alan Chenkin & Primrose Path LLC.  Remember to give credit to the author and any cited works. If you enjoyed this blog, please feel free to share and send some bitcoin in appreciation to my Bitcoin Address:

15EzAW7wfyqHD8pj6hS1dUCaLeLxW8uMbn
If you need a Bitcoin wallet, try Coinbase.