Education

Custody Wallet

No Bitcoin wallet? No problem. Store your coins with us.

SCAN WALLET QR CODE:

What Is a Custody Wallet?

Did you make a purchase at one of our kiosks by scanning the QR Code above?

Your coins have been purchased and sent to our HoneyBadger Custody Wallet. This means we currently hold your bitcoin for you.

Don’t want to hold onto your own coins?

No worries! You can keep them with us for as long as you’d like. They are kept secure with our experienced team and won’t be moved or used for any other purpose. You can request to withdraw your bitcoin at any time, free of charge.

Want to take possession of your bitcoin?

How to transfer funds from HoneyBadger’s Custody Wallet
  1. Download a Bitcoin wallet. Follow our guide here to download and set one up

  2. Open the wallet app on your device once the setup is complete

  3. Select Bitcoin

  4. Click “Receive”

  5. A QR code with a string of characters below it will appear. This is your wallet address (it will look something like this 33NKBfY7zqe6XTSY7jEGgZNqfSoyX5KW)

  6. Click copy or tap directly on the string of characters

  7. Open your email and paste your wallet address into the email’s body

    *Double check that the pasted address matches the one in your Bitcoin wallet

  8. Also in the email body, send us your transaction ID & phone number

  9. Send email to support@badgercoin.com with the subject line Custody Wallet Withdrawal

  10. A follow up email will be sent to you confirming the transfer

That’s it! Now you have a bitcoin wallet and are holding your own coins. Welcome to the future. Thank you for the business and we hope to see you again soon.

Terms: Customers are responsible for providing a valid Bitcoin address beginning with 1, 3, or bc1q This service is for personal use only. We will not send coins to a 3rd party Bitcoin is sent using a low transfer rate. It may take some time for the coins to be received. Please see the transaction link provided by email for up to date progress. Specific wallet questions should be directed to the wallet provider. HoneyBadger is unable to assist in any wallet related issues.  This service is for Bitcoin only, we cannot transfer to a Litecoin and/or Ethereum wallet.

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Education

How to Set up a Bitcoin Wallet

Step 1: Download

Download a Bitcoin wallet from your mobile device’s App Store. We recommend Green by Blockstream. It is free, highly encrypted, and simple to use.

There are many other easy to use bitcoin wallets which can be found here.

Step 2: Set Up Wallet

Follow the on-screen instructions to complete the wallet setup.

Write down the 12 or 24 “seed” words provided for you.

Keep these words somewhere safe and private. You will need them in case you lose access to your wallet.

Contact your wallet provider if you have any issues.

Step 3: Scan QR Code

When you have access to your newly created Bitcoin wallet, you should see a balance of 0.00 BTC (bitcoin)

Click on “Receive” to view your QR code and wallet address

Scan this QR code at any HoneyBadger ATM to purchase Bitcoin

Withdrawing from our custody wallet? Follow the instructions here.

Need more help?

Watch this video for assistance.

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Education

Fraud Education

HoneyBadger invests significant resources to protect our customers from fraudulent, suspicious, or unwarranted transactions – an unwavering priority that is unique in the industry. Fraudsters are getting more inventive, and we are consistently discovering new inventive tactics which has resulted in the successful return of over $1.4 million dollars to those affected since 2018.

The Relationship Imposture

Scenario: An online relationship is formed with someone living abroad who is requesting money via Bitcoin for financial reasons or support (commonly for flights, family medical emergencies, equipment, moving or wedding expenses). As the connection grows, there is often a promise to move to Canada and/or get married.

Why it Works?

Emotions are targeted with promises of love and happiness with a person who has typically presented themselves as an attractive, younger person with a professional job.

Initial Contact

They generally reach out directly on social media platforms, dating sites or special interest online forums.

Warning Signs

  • You have never met in person, but they make ongoing promises of an ideal life together
  • Ongoing requests for money (typically, starting low and escalating)
  • They provide their wallet address (a QR Code) and coach you what to say if the Bitcoin company asks
  • Direct messaged you over social media
  • They communicate exclusively through email, texts, or phone calls – you have never seen them in person or a live video chat (they do not show their face only pictures)
  • Flight delays persist that prevent a promised meeting due to a family emergency, immigration delay, etc.
  • Phone numbers may be blocked (note: numbers may be masked to show your region)

Takeaways

Romance-related fraudulent activity is the most common scenario we encounter. Large online call centres exist in foreign countries that solely target individuals by scouring the internet and social media channels. They are very convincing and will continue contact until money is no longer sent.

Job Offer Fraud

Scenario: A jobseeker is asked to send Bitcoin to a new employer that they met online. The employer sends a fraudulent e-transfer / cheque to the job-seeker’s bank and requests that they return the majority back in Bitcoin. The job may be an online consumer review position and as part of the hiring process, several tasks must be performed such as visiting a bank to review the process, then going to a Bitcoin machine to return the value in Bitcoin.

Why it Works?

Money is deposited directly to the job-seeker’s bank account with the illusion that it is part of the job.

Initial Contact

They typically reach out on an online job site, followed by direct messages on social media, texts, emails or phone calls.

Warning Signs

  • Employer insists on receiving a Bitcoin payment to continue with employment
  • Employer sends funds to a personal bank account in order to complete employment contract signing (this may be positioned as a hiring bonus)
  • Jobseekers are prompted not to wait for the clearing period before sending Bitcoin payment

Takeaways

Currently, these scenarios are on the rise due to the increase in unemployment. Remote work is common so not meeting an employer face-to-face is not uncommon. An employer will always provide all the means to be successful in day-to-day work and Bitcoin should never be sent to an employer to begin working for them.

CRA/Government Institution/Police Extortion

Scenario: A caller states a person must send Bitcoin to the CRA, often asserting that their SIN has been compromised. They are directed to empty their bank account and send all funds for safe keeping for their protection. The funds are directed to a Bitcoin wallet address owned by the perpetrator.

Why it Works?

Fear is instilled that there will be an arrest if they do not follow instructions.

Initial Contact

A fraudulent “CRA Agent” calls random mobile phone numbers seeking out potential opportunities.

Warning Signs

  • The call is initiated by a robot, connecting to a human afterwards. Personal information is gathered, such as name, address, SIN, line of credit and how much money is in the person’s bank account
  • The fake agent does not allow the call to be ended until the transaction complete
  • The fake agent is reassuring and insists they are there to help – they may provide a badge number or other information to lead the belief that they are legitimate

Takeaways

Government agencies do not accept Bitcoin as a payment measure. The CRA or any government agency will never contact individuals to insist on immediate payment or emptying a personal bank account for preventive measures. No one has control of a Bitcoin wallet addresses they did not personally create, so money will go directly to a third party in this instance.

Customs Scam

Scenario: An individual is led to believe they are receiving a package from overseas and are told by someone posing as a shipping company that they must pay for it in Bitcoin to clear customs.

Why it Works?

Not everyone easily detects that a shipping company is fake or realizes that they are paying in Bitcoin if they are unfamiliar with cryptocurrency.

Initial Contact

Once someone believes a package is being mailed to them, a fake shipping company will get in touch regarding fake custom charges. After successfully accomplishing this scheme once, they may attempt to be in contact again with instruction to send more to pay off additional charges afterwards.

Warning Signs

  • A QR code is sent and the fraudster states that credit cards or other methods of payment cannot be used – only Bitcoin
  • The shipping company has a fake website with no way to contact them directly

Takeaways

It is exceedingly rare for a shipping company to accept Bitcoin for payment, and Customs does not accept Bitcoin as payment. If the “shipping company” has a website that contains simple mistakes (spelling/grammar/design flaws), it is likely fake.

Rental Scams

Scenario: A rental property is listed online, and the potential renter is instructed to pay for the deposit and/or first month’s rent with Bitcoin before receiving keys to the property. As soon as funds are received, contact abruptly ends.

Why it Works?

The rental property seems too good to be true with cheap rent, a quick move-in date, no tenancy agreement needed, etc.

Initial Contact

Listings will appear on sites like Craigslist/Kijiji/Facebook Marketplace and further communication may continue by text or direct messages.

Warning Signs

  • There is no in-person viewing of the rental and no potential to view until deposit is paid
  • There is aggressive language or legal action is threatened if money is not sent in Bitcoin
  • There is no signed tenancy agreement in writing prior to making the deposit

Takeaways

All rental properties should have a tenancy agreement. Renters should always view a place in-person before signing up to live in it, and never pay for rent/deposits in Bitcoin to someone they have not met in person.

Used Vehicle Scheme

Scenario: A car is listed online, and the price is extremely reasonable. The location of the vehicle is often far away, and the potential customer cannot view it before they must pay in Bitcoin.

Why it Works?

The listings are on legitimate websites and documentation which appears to be authentic may be provided.

Initial Contact

Real sites are used such as Craigslist, Kijiji, Facebook Marketplace, or eBay.

Warning Signs

  • The vehicle is usually priced much lower than the average price of the model
  • They use direct messages, texts and calls to communicate and do not meet in person
  • Confirmed Scam: Documents are sent by “eBay Motors” to convey how to purchase/pay for a deposit for a vehicle with Bitcoin

Takeaways

Do not pay for a vehicle without viewing/test driving it to ensure it is in working order. Websites such as Craigslist, Kijiji, Facebook Marketplace, and eBay do not offer buyer protection if payment is made in Bitcoin or other cryptocurrencies.

Investment Hoax

Scenario: Broker or online investment platform/representative requests a deposit at Bitcoin ATM (see this example from a well-known Twitter Bitcoin scandal) in exchange for offering investment tips, advice or to invest, guaranteeing results.

Why it Works?

The potential to make money quickly is a strong motivator.

Initial Contact

Connections can be made through Facebook, Instagram, chat groups, investment forums, email, or other social platforms.

Warning Signs

  • Promises of very high returns or income and making money fast Overseas offices, no listed addresses, promotional websites without information about location, risk, or insurance
  • Overly aggressive or very personable sales tactics
  • Advertising “no-risk”, “High Yield Investment Programs”, “ACT NOW” or other pushy/flashy marketing
  • There is a prompt to recruit friends, or friends keep sending you the same investment program (they are likely paid or will be if you sign up)
  • Person reaching out poses as being wealthy, influential or pretends to be a real CEO, political, investor or celebrity
  • Constant spam messages, emails, or phone calls

Takeaways

If it sounds too good to be true, it likely is. Do research before making any financial decision. Reach out to a licensed financial advisor or institution with any concerns.

Bill Payment Falsification

Scenario: Individuals receive a phone call or email from someone pretending to be a utility service provider (BC Hydro, Atco, Sask Power, Hydro-Quebec, Telus, etc.) and request immediate payment for an overdue bill or outstanding payment, only payable in Bitcoin.

Why it Works?

The caller seems very convincing and typically has a threatening tone. People want to believe they are doing the right thing and getting caught up on their bills. They often target older citizens and immigrants.

Initial Contact

Frequent phone calls come from call centres, “robot” dialers or emails.

Warning Signs

  • Threats to cut your power or service
  • Caller or email doesn’t have full information about your account
  • Unusual payment methods such as gift cards, Bitcoin or asking for a credit card over the phone
  • The phone number goes to a different person or company when called back
  • Email comes from an odd address (ex. 1239823n@gmx.com or hydro123@gmail.com)
  • Using different phone numbers, masking or “spoofing” a number to appear it comes from a real company
  • A recording plays once call is answered

Takeaways

No service provider will cut off a customer immediately or on first notice of late or missed payment. Customers generally have 30 – 90 days to make payments, usually with fees or interest on overdue bills. Beware of official looking email or phone numbers, as incoming phone numbers can appear as the real number. Hang up the phone and log into online accounts or reach out to a company’s official support to get clarity on any outstanding bills.

Immigration Deception

Scenario: A phone call or email is received from an “immigration officer” asking to confirm personal/financial information or offering a special time-limited deal to get a faster or cheaper visa. There may also be threats of arrest, jail time, loss of visa or status, deportation, or account suspension if personal information and/or Bitcoin payment is not provided.

Why it Works?

People who pose as an immigration officer prey on the emotions of immigrants’ desire to stay in Canada by threatening their visa status or attempting to entice them to take measures to get a visa right away.

Initial Contact

A call or email will be received by someone who has applied for or already received a visa.

Warning Signs

  • Email starting with “Dear customer/client” and/or is sent from a private host eg: Gmail, Hotmail
  • Asking to confirm your personal or financial information
  • Threats to your immigration status
  • Requests of quick action as it is a time sensitive matter, or advising to act quickly to get a special circumstances visa
  • Offering a special deal or exclusive visa that seems too good to be true

Takeaways

The Canadian government will never ask somebody to pay in Bitcoin. The IRCC will not ask individuals to confirm personal information or collect money over the phone and will only email using a gc.ca address (eg. madame.lastname@gc.ca). There is no easy way to speed up the process of getting a visa, and no one can guarantee visa status except for government officials.

Lawyer Impersonation

Scenario: An innocent person is contacted by someone pretending to be a lawyer, who claims there are charges against them or a loved one, and they will offer to act as their lawyer to assist. They will then request a legal fee in Bitcoin to cover the cost of their services.

Why it Works?

Fear can lead to a person making an irrational, impulsive decision so they will aim to shock a person into fear and then use a kind tone to offer help.

Initial Contact

Generally, this begins with a phone call with an automated voice and connects to a real person afterwards.

Warning Signs

  • Offering a discounted rate for their service
  • Claims that charges can stay a secret by using them as a lawyer
  • Not providing documentation of the charges/their legal fee structure or an invoice
  • A call begins with an automated message to discuss legal matter with you
  • Pressure to pay a fee for a lawyer you have not met

Takeaways

Real lawyers will not accept Bitcoin as payment. Lawyers will not contact you about charges against you and not require a fee to begin legal services. The legal process takes time and there is no up-front rush to pay a fee in a legal case that would justify this type of approach.

COVID-19 Health Con

Scenario: Someone claiming to be sick with COVID-19 says they need help. Generally, this person has developed an online relationship for months prior before claiming they contracted the virus and need assistance with paying medical or other resulting expenses.

Why it Works?

An emotional bond and attachment are formed by consistent chatting, and strong efforts are made to build the illusion of a strong relationship before requesting financial help.

Initial Contact

Generally, Facebook, Instagram or dating sites/apps will be used to make a connection.

Warning Signs

  • A person you haven’t met is asking for money
  • They are falling “in love” quickly and in a fast-moving relationship
  • They may have asked about your financial information
  • The person is asking you personal information such as your full name, where you live, and other possible security answer questions for your email/social accounts
  • They offer an elaborate story explaining how they contracted COVID and how they cannot pay hospital fees.

Takeaways

Real lawyers will not accept Bitcoin as payment. Lawyers will not contact you about charges against you and not require a fee to begin legal services. The legal process takes time and there is no up-front rush to pay a fee in a legal case that would justify this type of approach.

Celebrity Relationship Misrepresentation

Scenario: A person is contacted by a “celebrity”, and they begin to build a trusting relationship online. Information and pictures of this celebrity may be shared to attempt to prove their identity. They request discretion and share details of a struggle they are dealing with, eventually asking for help, as their funds are temporarily inaccessible.

Why it Works?

People are naturally in awe of celebrities and are inclined to believe that personal details and pictures about the celebrity are authentic. A flirty bond is often initiated in order to form an emotional, trusting connection.

Initial Contact

This almost exclusively occurs online on dating websites or lookalike social media accounts with the fake celebrity initiating conversation.

Warning Signs

  • Flirty or suggestive messages/pictures
  • Asking to remain discreet about the relationship
  • Asking for money
  • The relationship moves quickly
  • Celebrity initiating conversation using a pseudonymous name or account

Takeaways

Real lawyers will not force you to send Bitcoin as payment. Lawyers will not contact you about charges against you and not require a fee to begin legal services. The legal process takes time and there is no up-front rush to pay a fee in a legal case that would justify this type of approach.

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