The rapid rise in the value of Bitcoins and other cryptocurrencies have attracted many eager investors, but unfortunately, have also attracted many scammers eager to take advantage of unwary investors. One particular scam involves an app that, for a prepaid fee, will mine Bitcoins on your behalf which are then transferred to an account from which you cannot take out the Bitcoins.
TIPS
The best way to avoid becoming a victim of the particular scam described above is by researching thoroughly any company with which you are considering doing business in regard to purchasing Bitcoins.
Bitcoins and other cryptocurrencies are popular with many people due to the anonymity involved with cryptocurrency transactions as well as the lack of fees involved in their use.  However, digital currencies, just as everything else tied to computers carry inherent vulnerabilities.  The best ways to avoid problems is to take particular care in choosing where you store your Bitcoins online.  Many Bitcoin exchanges have had security breaches and will always be a prime target for hackers.  In addition to using a strong password you should also use dual factor authentication to provide greater security, encrypt your wallet and backup your entire wallet.  Finally, make sure that your Bitcoin software is updated with the latest security patches as soon as they become available.