BINARY TRADERS... SCAM OR NOT..?

[K.Mac]

With the ever increasing number of social media platforms for crypto, there is an ever increasing number of people out there claiming to be binary traders/investors, that almost guarantee a quick return on the crypto investment, but it all sound pretty much like a pyramid scheme where they can take your money and run, what are your opinions on this sort of crypto trade/ investment scheme, are there good returns or is it all jst daylight robbery as people are to scared to say that they been haggled.?

[1714793915]

1714793915

[engesi]

In the cryptocurrency market, you don't need to deliver your property to anyone, because you can operate freely on the trading platform, and those who let you give money to help you invest are almost all scammers!

[enhu]

Binary trading isn't a pyramid scheme, its just betting where the market is going at a limited time. I don't think its a scam but most of the platform  we've seem  so far just don't exist anymore. secondstrade were the most known but had also stopped its operation since last year. I  guess someone's loss is also someone's luck  inside the binary platform.

[Atherus]

I think we have to do our own due diligence before investing in anything. It is our decision and we are the ones to blame.

[vladimirhf]

Binary trading isn't a pyramid scheme, its just betting where the market is going at a limited time. I don't think its a scam but most of the platform  we've seem  so far just don't exist anymore. secondstrade were the most known but had also stopped its operation since last year. I  guess someone's loss is also someone's luck  inside the binary platform.

not all, but many platforms are/were ponzi schemes, there's always news about this.

[jseverson]

Binary trading isn't a scam per se, but I wouldn't say it's an investment either. Check this article out for some more information about it:

https://www.forbes.com/sites/investor/2010/07/27/dont-gamble-on-binary-options/#864132330a87

If you're a beginner who wants to enter the crypto market to invest, buy your coins and HODL in a safe wallet. It's best to not involve third parties unless you're absolutely sure of what you're doing. Promises of quick returns are almost always scams.

[Velkro]

I think we have to do our own due diligence before investing in anything. It is our decision and we are the ones to blame.

That is always true. No matter what topic you are researching, always do due diligence before.
Binary trading isn't a scam, but its not investment either. Its just gambling.

[madnessteat]

Do not believe in binary trading. If you want to trade cryptocurrencies start with small investments that are not afraid to lose. Gradually will come experience.

[Thirdspace]

... there is an ever increasing number of people out there claiming to be binary traders/investors, that almost guarantee a quick return on the crypto investment, but it all sound pretty much like a pyramid scheme where they can take your money and run, ...

why entrust your fund to so called crypto investment or traders? why not do binary trading yourself?
no one can guarantee a quick return on any type of investment consistently
and when they're doing it on binary trading, they're just like wagering on hi-lo dice
maybe some of them are not scam in the beginning, but when they keep losing money they will turn scam

[boyptc]

there is an ever increasing number of people out there claiming to be binary traders/investors, that almost guarantee a quick return on the crypto investment, but it all sound pretty much like a pyramid scheme where they can take your money and run, what are your opinions on this sort of crypto trade/ investment scheme

Don't trust your fund to any person who claims that they are traders that can give you guarantee results.

You already know those risks and their scheme so why you will entrust them with your hard earned money? it's just another growing scam scheme for them since HYIP's are now very well exposed.

They never stop creating these schemes and the illiterate ones about the market are their targets.

[Scoobers]

I got caught out on a binary scam, luckily only lost a few hundred dollars. If something seems to good to be true then it's usually a scam. There are now companies that say they can help recover your money from binary scams (for a large share of the recovered money of course!)