Bitcoin Forum

Hello, I’m fairly new to crypto. Teaching myself and learning hard lessons. I was investing in a Bitcoin mining firm, making great profits on paper but tough to receive profits. I finally supposedly am being paid out but I believe I am being jerked around. I was told I was sent 21k worth of btc to a certain blockchain wallet. The blockchain account is fairly new and only used for a couple petty transactions as test. Nothing shows coming in or received, the payout manager says : “ this is your first large transaction receiving from a high frequency mining account and once you deposit about 4200 into your wallet, the 21000 will automatically reflect “   Is this a complete lie? I ask for a transaction id so I can see it was sent but nothing. I do not want to put the 4200 in my wallet because I’m suspicious of this whole thing. I’ve invested over 13k and never received profits although I have about 80k in my account with them. Should I cut my losses and move on? Or is it possible the scenario is true? Thanks to anybody that can help. 

Unfortunately I have to confirm to you that this is a lie, it has already become a classic scam in which scammers try to deceive those who still do not understand how the blockchain or any crypto wallet works. That wallet they want to you make a deposit in is actually under their control, I guess you only have access to a watch-only wallet where you can only see transactions, but you don't have private keys to give you control over the coins that are part of that wallet.

What you can do now is to report the fraud to the police, and if you want to help others not to become victims of the same scam, to expose them publicly in the Scam Accusations board -> https://bitcointalk.org/index.php?board=83.0

The general rule of life (also applicable to crypto) is never ever trust anyone or any company that promises to pay you after you pay them a smaller amount. It's a clear scam, you see, the amount they want to claim from you, they can just deduct that amount from the amount they have to send to you, it's a very popular scam and sadly many fall for these because of greed, it's best to just use your money in a good way like create a business in real life or open a shop etc, instead of trusting companies promising guaranteed returns. Hopefully you get out of this with minimal losses!

That is totally a scam, what wallet would ask for a deposit before reflecting your payout, that's a pure lie, you should not invest in that, they are trying to lure you to deposit in the account that they have full control, and once you have sent the amount they will get it and run, i suggest you just deposit your money to an exchange, like Binance or poloniex or even create an eth wallet or BSc wallet, and buy profitable token or coin, don't waste your time and money on those scams, it will get you nowhere.

You don't need any transaction history to receive any amount of bitcoins into an address it means it was a complete lie and your 13K was scammed. I guess you invested on cloud mining, they are tricking you to scam you further even after they took $13K from you but at least now you realize you are in a trap and get away with the losses, don't lose any more penny again for such lucrative ROI schemes.

How did you get to know the forum? Maybe if you had enquired more you might have been in the forum before you said goodbye to your $13k to scammers, and I think the lesson of the day for you and other -Newbies- is cut-off all greed if not the scammers won't only scam you once the would turn you into a mini ATM, Lucius has given you what may be your next best alternative solution, it's not fair many -newbies- make money from there craft and then loses it to scammers in crypto-currency, Forex and stock, don't introduce your money in an unfamiliar business.

Rule of thumb: If you have to pay to withdraw, you're being scammed.

Yes.

Are you talking dollars here? If you've given $13k to a scammer, they're clearly back to scam you for $4200 more.

You don't have an "account". There is no mining firm. It's a (scam) website, that's all.

Yes.

Only if you see unicorns and fairies.

That was an expensive lesson indeed!

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Welcome to Bitcointalk. There are many good things in crypto and on this forum, but your first instinct when dealing with anyone online and especially when related to crypto should be to assume they're out to scam you.

It is kind of lie and double scam. Somewhat similar to what I pointed out there

• Beware of "Pay original fine" - a scam method (https://bitcointalk.org/index.php?topic=5279288.0)
• Yours is different a little bit but the similarity with what I shared is scammers try to do double-scam against you.

You do a right thing.

It it is a scam and you have nothing to file report to police or governments, you only can stop.

Thanks alot everybody for the replies and confirming my suspicions. I have now found this board and will be doing a lot of reading and research. I want to get involved but know nothing and will need to self teach myself starting here. If anybody can suggest a good starting point of some literature or anything where I can learn about trading. Is it as simple as just buying in a dip and selling in a high? Thanks again everybody.

There's a lot of information online If you are really interested in trading and the best way to learn how to trade is by practicing with small amounts of funds which you can afford to lose, You can easily get the basics of trading through YouTube and blogs

If you have any questions about trading, you can ask questions in this board --- Trading Discussion (https://bitcointalk.org/index.php?board=8.0)

Also some good trading books in this thread --- https://bitcointalk.org/index.php?topic=5327419.0

I am sorry for loss and this is what happens when an investor is not experienced in the cryptosystem.
Crypto trading is not simple as you believe and it more than buying the dip and selling high but if you can cope with the risk I will advise you to use the holding strategy you mention.
If you are to be pro in trading you can try put the trading course thread (https://bitcointalk.org/index.php?topic=5291899.0) created by Maus0728.

Hello mate, you basically got scammed and all those things are all lies, just remember this thing in the world of crypto and even in the real life. There is no easy money, we cant earn from doing nothing, you cant earn huge money from just sending or investing a small amount then expecting that you can double your money or multiply it. I've already experienced the same thing before way back when the first time I invested bitcoin in a certain website but end up losing my money on that.

Scammers are always there trying to take advantage of the beginners, once you trust them then you will get fooled.

Hello, F30f10g20
Many people have already stated that this is clearly a scam, and the promise that you will be able to withdraw money after paying the advance is a blatant lie. However, it will be beneficial to disclose which company (website) is at stake so that those who read this can avoid falling into a similar trap.

The company is fidelity tradings.

Can you share the website or social media? Fidelity is quite popular as a business, so there's also a chance you're using a fake one or a business that uses their name. Is this the website https://www.fidelity.com/? As far as I can tell they don't provide a mining firm service.

Fidelity.com is legit: Fidelity is a US stockbroker founded in 1946. (https://brokerchooser.com/broker-reviews/fidelity-review)

If you do, put it in code tags or make it non-clickable. You don't want to reward them with a free backlink.

That's possible. If a scammer abused Fidelity's name, you should report it (https://www.fidelity.com/security/look-out-for-suspicious-emails) to them.

Yes I know. Not fidelity investments. Fidelitytradings.com   I’m not worried about about giving a link because hopefully some beginner will search and find this thread. The above bitcoin mining firm is a scam.

Fidelitytradings.com Review: Confirmed Scam! (https://alertscam.com/2021/02/05/fidelitytradings-com-is-a-scam/)
You should report this to their domain registrar Namecheap.com (https://www.namecheap.com/). I've seen them take scammers offline after being reported.

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Every site that promises "Daily Growth: 200%" is a scam!

Will do, thanks.

Yes, Fidelitytradings(.)com is clearly a scam.
According to their website, they are registered in the UK as a Private Limited Company, but there is no company with that name on the UK Registry of Companies (https://find-and-update.company-information.service.gov.uk/).
Furthermore, if we check for Company number: 11731430, we will find information about a completely different organization, suggesting that their certificate of incorporation is a complete forgery.

FAKE CERTIFICATE OF INCORPORATION:
https://fidelitytradings.com/wp-content/uploads/2020/11/IMG-20201114-WA0002.jpg
source: https://fidelitytradings.com/wp-content/uploads/2020/11/IMG-20201114-WA0002.jpg

Real legitimate company:
source: https://find-and-update.company-information.service.gov.uk/company/11731430

To put it simply, yes it is. But can you recognize the indications that signal a low/high point?

Trading is quite difficult and requires plenty of analysis and time. You seem like someone who has some money to throw around. I am basing that on the fact that you had $13k to invest with a company you knew very little about. Instead of trading, why not set aside a weekly/monthly amount of money, and just purchase a little bit of bitcoin every time? Store that money in a hardware wallet and watch it grow over time. Trading is a type of gamble in the beginning when you don't have the required experience.     

Thanks. Yes that is what I have started to do, I will just keep reading and researching and try to advance my knowledge and skill within every thing crypto. I just feel like I want to eventually get to a more hands-on approach but for now I will just keep buying and stacking Bitcoin and other cryptos. Thanks for the advice I appreciate it.

If you are looking for a way to learn that feels like hands-on then you should try to search for a video that you can watch about trading since you are interested in trading. There are video tutorials that can help you learn or rather gather more information that may help you in your future tradings.

I'm sorry that you've been scammed F30f10g20. You should know one simple thing about any kind of investment : If they promise you huge interest rate (like the ones advertised by the scam company you've met) then it is clearly a scam attempt and the only entity that will earn any kind of money will surely not be you.

Just to give you a general idea of a return expected from an "real" investment vehicle such as IWDA - an Exchanged Traded Fund[1] - if we look at the annualized returns ever since the inception of the fund (25/09/2009)  we are showed that it managed to achieve a 10.42 %[2] return. This means that ever since 2009 it provided a 10.42 % return on the investment you made each year in it.

Do you see how farfetched this "200%" gains are from reality? One could say that I've chosen a "simple" investment instrument, and that I could go to more risky ones such as pure stocks and such, but my goal here was to show you that in the "real world" there are no such astronomical gains without any kind of risks involved.

On a second note, do not be in a rush to try to recover from your losses by going heads on in another investment that you seem like not know that much (I'm referring to your sentence "(...)for now I will just keep buying and stacking Bitcoin and other cryptos.(...)"). Consider that you're starting new and that you're deciding on what you should invest your wealth. Assuming that you've worked hard for it, you wouldn't throw it at something just because it has good returns or simply because a lot of people is doing it right? I share this ideal that every investment decision that one takes should be a conscious one, meaning that you really should understand in what you're investing in even before investing on it.

As for Bitcoin and the crypto world, there is a lot of information out there where you could start to "hoard" knowledge from. From the top of my mind here are some that you could use:

• https://bitcoin.org/en/getting-started (https://bitcoin.org/en/getting-started) - This is a good starting point (or one of them). You get to know what Bitcoin is (in a short way), what are wallets and what do they mean for you, how you can get bitcoin and spend bitcoin.
• Andreas Antonopoulos Youtube Channel (https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ) - I think Mr. Andreas needs no introduction for many users on this community, but you can learn a bit about him here[3]
• https://en.bitcoin.it/wiki/Help:FAQ (https://en.bitcoin.it/wiki/Help:FAQ) - Official FAQ from the Bitcoin community from Reddit
• https://old.reddit.com/r/BitcoinBeginners/ (https://old.reddit.com/r/BitcoinBeginners/) - Most of the questions that will come to your mind most likely were placed on this sub somewhere in time. Just avoid any kind of contact with those sudden DM's that you may receive if you post in there (or any other crypto related sub for that matter)
• https://bitcointalk.org/ (https://bitcointalk.org/) - Last but not the least, this forum is a tremendous well of knowledge regarding bitcoin and everything related to it. Whenever in doubt just hit that search button and I'm sure you'll find something related with your query that some user has faced in the past.

I think you already have a good list of resources where you could start. As always, a rule of thumb is to never give your any kind of details regarding your "crypto life". This means no sharing of your seed phrase to anyone (in a few days I'm sure this word will be familiar to you), no sharing about how much you have invested / how much you hold and always quadruple check the websites that you browse/use to avoid any kind of scam.

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[1] https://www.investopedia.com/terms/e/etf.asp (https://www.investopedia.com/terms/e/etf.asp)
[2] https://www.ishares.com/uk/individual/en/products/251882/ishares-msci-world-ucits-etf-acc-fund (https://www.ishares.com/uk/individual/en/products/251882/ishares-msci-world-ucits-etf-acc-fund)
[3] https://aantonop.com/a-about/ (https://aantonop.com/a-about/)