What a Typical Bitcoin Scammer Looks Like

What a Typical Bitcoin Scammer Looks Like

You have finally found the courage and confidence to put some of your funds into online crypto trading. You are preparing for the journey and want to sign up with a crypto broker as soon as possible. That’s exactly where you are met with some complications. How can you ever know that you are signing up with a legitimate online entity?

It is unfortunate but the online world of cryptocurrency trading is rife with crypto broker scams. You are asked to sign up with a small amount of money, trade a digital coin with that money, but to pull out your profits, you have to deposit more money. You are then trapped in this loop of depositing more money to get your profits out. In a way, you are never able to get back the money you have made on your trades.

What do you do about such a situation? Well, all you have to do is to be knowledgeable about things that send strong signals that you are signing up with the wrong broker. Here are those things.

They Promise You the World

Just about any company that promises you anything is scamming you. The biggest and the best companies in the trading world can only give you great conditions for trading. However, they are never able to tell you with surety that you will make money with crypto trading. Of course, they can’t because they are not trading. You are trading and since you are the ones making decisions, how can they know whether those decisions will be right or wrong? On the other hand, you have these scammers telling you they can make you millions of dollars.

They even tell you their trading platforms are designed to be more than 90% accurate. As soon as you hear or read such a statement, run as far away from the company as possible.

They Appear in Negative Comments and Scammer Lists

Yes, they have a million different reasons to prove otherwise, but they can’t really fight back the allegations that come their way from their real customers after getting scammed. People sign up with them, put their money into trading, get nothing back, and then go online to rant about the situation. To these reviews, they try to respond by giving reasons, such as difficult payment options, or that the trader was violating certain policies. Well, if all traders keep violating these policies, they must not be clear in the first place, right?

You are highly recommended to check out Bitcoin scammer list to know about the latest Bitcoin trading scams out there. These fake and fraud crypto brokers are making millions of dollars every year at the expense of people who want financial stability and dream of a luxurious lifestyle. If you see negative comments and bad ratings everywhere for a particular trading services provider, you should look for other options rather than trying to find a way to justify it.

They Are Not Regulated or Registered

You have to find at least one of the too. If the company you are thinking about signing up with is not regulated, you should have at least some proof on the website that they are registered as a business. If they are not even registered as a business and have no license to provide crypto trading services, they are not in any position to offer you these services. To be more precise, they are only scamming you for as long as they can. As soon as a regulatory authority discovers them, they are not gone from the picture.

Final Thoughts

Hopefully, these tips will help you identify a crypto trading scam from miles away. The one thing you want to be sure of here is to avoid the urge of finding a way to justify the actions of the broker. They give you bogus explanations of why they have bad ratings and reviews, and you just find a way to trust them. Instead, you just discover a way to lose your money.

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