Bitcoin.com. It sounds like the name of the most reliable and trustworthy site relating to Bitcoin on the internet. No doubt, many new or would-be investors head straight to that site to learn about Bitcoin. Well, if they download the latest version of the Bitcoin.com wallet, then they're in for a nasty and potentially costly surprise.
Take a look at some of the reviews in the image below and you'll see the potential trap that awaits the unsuspecting investor. The wallet automatically creates Bitcoin Cash (BCH, also known as Bcash) and Bitcoin (BTC, the real Bitcoin) wallets in that order. Someone unfamiliar with the crypto space will most likely be unaware that Bitcoin Cash (BCH) is a separate cryptocurrency, created by hard forking the Bitcoin blockchain and is not the same thing as Bitcoin (BTC).
It would be very easy to see the name 'Bitcoin' in 'Bitcoin Cash' and assume that it is the real Bitcoin, especially since it is the first wallet created. What the wallet downloader expects from a Bitcoin wallet is the Bitcoin they've been hearing about in the news that has hit an all time high above $8,200, not a $1,200 altcoin.
Those who stumble upon this wallet without the knowledge necessary for navigating it safely, may find that ...
'Bitcoin' is in Bitcoin.com, 'Bitcoin' is in Bitcoin Cash, but Bitcoin may not be what they end up with in their Bitcoin.com wallet.
Oh, and if you are someone who is new to Bitcoin and wanting to learn more about the real Bitcoin (BTC) from a reliable source, then visit Bitcoin.org, yes, that's .org :)
This article, Don't Get Burned by the Bitcoin.com Wallet, was first published on 11/21/2017 at BitcoinToTheMoon.com