To educate people about the risks of online bitcoin investing scams
The opportunity for profit is the primary motivating factor why anyone would want to get into trading – whether that is Forex or currency pairs, or crypto-currency pairs.
In the case of crypto, there is an air of mystery which is a strong attraction for most people, and the belief that there are many people ‘making a killing’ from this relatively new source of trading opportunities gives rise to many people jumping on the bandwagon.
This is probably the most deadly concotion that anyone could take nowadays, in financial terms, so let’s break this down.
Opportunity for profit
As a potential investor, you are looking for something that can demonstrate great potential for gain. You don’t want to hear of any potential downfall in the way that markets can go which would mean you could lose some or part of your investment.
So when someone comes along to promise you a daily profitable return on investment, you simply can’t lose, can you ? You realise that in the long term that the market can go up, down or sideways, but if your overall account balance is guaranteed to grow with a daily return then there is simply no risk for you to be involved in the market.
This lures you to deposit money that you can’t afford to lose to be put into the scheme. After all, you will be easily able to pay it back once you are happy with the anticipated return. And that is where the online bitcoin investment scam comes into play.
The administrators of the sites have talked you into depositing with them, into their own account, and they have now got 100% control of your funds. There is no way you can safely withdraw it. It’s your money, but their bank account.
The only real opportunity for profit is for the scammers to make as much money as they can from the amount you put in. They are the winners, you are the loser.
The opportunity for profit quickly turns into an opportunity to escape from hell, and there is no way out. Or so it seems. Follow the links in our mandate, or on the tools page, to see what you can do escapte from this drama.
Crypto versus Forex currency pairs
If you have ever been slightly interested in the curency markets, there there are multiple easy ways to start trading without having to get into crypto-currency pairs.
The main defence from government departments is that since crypto-currency is not legal tender, then they don’t need to investigate further. It’s not something that they have power to investigate.
You can win – and lose – money in both types of investing, as you are playing with volatile markets. Your account balance rises and falls on the hertbeart of the actions of other people, or indesutries, or governments, or the banking sector, that make announcements to a community.
While there are some legitimate businesses that make crypto-trading look simple (see for instance, www.profitfarmers.com) there is a need to take caution and really search to understand how to participate. For example, don’t put 50% of your trade into a single asset. That’s a surefire way to lose it all, quickly !
On the topic of charts, these are all available free of chart as widgets on the internet. (see for instance, the simple “Buy / Sell” signal indicator available from www.tradingview.com below). Don’t be fooled to think that the owners of these crypto-investment websites know what they are doing. They simply are using freely available information to get your salivory glands moving in order to put your hand into your pocket and deposit your cash (or bitcoin) into their bank account.
Don’t do it.
An air of mystery
For most people, the opportunity to invest in “something new” that is “getting headlines” means that they need to jump on board and participate.
Who hasn’t ever heard that you need to be in before the crest of the wave to make money in the opportunity, so get in before the wave crashes ? It’s this air of mystery and the naivety of people that causes most people to lose money this way.
Do you really know what you are getting yourself into ?
Do you oreally trust someone who says they can do something, without demonstrating the proof that they can do it ?
Wouuld you be willing to hand me a few thousand dollars, even though you don’t know me, if I let you in on a secret opportunity that could make you double your money in less than 100 days ?
And yet, this is exactly what scammers prey on, and what we let ourselves believe in.
Don’t let your guard down with the air of mystery that is really our own naivety.
Be smart, and watch out !
Belief that others are making a fortune
There really is a lot of money going into the crypto-currency arena.
But are they really making profits ?
Just because bitcoin is currently going up 300% in just a few short months, does this mean that everyone is profiting from this ?
There is a fantasy that some people really know what they are doing, and if you don’t jump on the bandwagon that you will lose the opportunity to make the same insane profits that everyone else is making.
Scammers prey on vulnerabilities, and use this to their advantage. Their strength is that they are manipulative and position themselves as an expert; our weakness is that we are offered the opportunity of a lifetime, and don’t want to pass up what is an insane offer.
That is something that is far from the truth.