He Lost His Investment. See what Happened!

[Munir575]

How a close of mine lost his hard earned money to a bitcoin trader?

He told me how he invested some of his savings to a particular bitcoin trader in the place where he lives.

The professional trader promised to pay profit monthly which is supposed to be a fixed ROI.

It happened that the traders was actually faithful to the promised payment for a certain period.

But, the trader took the money invested with him and use it for other investment. It happened that he lost the whole money.

This became a big case between the traders and the individual investors. As it stands his money and other people's money with him had gone down the drain.

These prompt me to ask some questions:

1. How do we evaluate capability and credibility of some entities or individuals that trade for people or some professional traders who trade for people?

2. I've seen some Telegram group that sell trading services and signals advice. How do we know if they are good to do business with?

3. Is Telegram escrow system a scam  or not?

Telegram is the major centre for crypto scam alot of scam formats are carried out on telegram so we need to be very careful with people we do business with. My friend was also a victim once, he was scammed on telegram while trying to purchase crypto, he fell for someone who claimed to be an escrow agent and thats how he lost his fund and never received his coin. Telegram is home for scam so be careful.

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[Quidat]

Telegram is the major centre for crypto scam alot of scam formats are carried out on telegram so we need to be very careful with people we do business with. My friend was also a victim once, he was scammed on telegram while trying to purchase crypto, he fell for someone who claimed to be an escrow agent and thats how he lost his fund and never received his coin. Telegram is home for scam so be careful.

No doubt about this but telegram platform had made out some good updates basing on real experience if you do try to compare its situation in the past to now then changes in security
and for fighting spam and bots is really there.Im not saying that it do make get rid of bots and other scammy ones but with the recent security changes then its really hard to make out
some random messaging on someone which do really still need some verification or further step before you could able to do so.

[lienfaye]

It's a big mistake to entrust your investment to someone else. even though they are professional traders, we don't know what they will do later if there are no recommendations from several people who have used their services.

Its not really advisable to ask other traders to do the work for you even you consider this particular person as trusted.

You dont know what they up to and if we're talking about money, many people are becoming greedy and tend to forget their responsibility or what they promise.

Its best to do it yourself, learn to be a trader using your own knowledge and experience. Because it feels good to earn if you know you gain it through your hardwork and not because of other people.

[taufik123]

Its not really advisable to ask other traders to do the work for you even you consider this particular person as trusted.

You dont know what they up to and if we're talking about money, many people are becoming greedy and tend to forget their responsibility or what they promise.

Its best to do it yourself, learn to be a trader using your own knowledge and experience. Because it feels good to earn if you know you gain it through your hardwork and not because of other people.

Money will bring out the true nature of a person, whoever it is. especially when we talk about the thousands of dollars we want to invest.
The safest way is to manage it yourself, to trade yourself. The most important thing is that we must know the knowledge, start learning from basic knowledge, and gain experience. hard work and profits generated by oneself will indeed be more meaningful than using the services of others, because there will be a process that is carried out.

[savetheFORUM]

Its not really advisable to ask other traders to do the work for you even you consider this particular person as trusted.

You dont know what they up to and if we're talking about money, many people are becoming greedy and tend to forget their responsibility or what they promise.

Its best to do it yourself, learn to be a trader using your own knowledge and experience. Because it feels good to earn if you know you gain it through your hardwork and not because of other people.

Why not? What if he is still starting and doesn't have enough knowledge? There might be some service that does this and they charge a certain fee. It's great because while we learn we also earn and they are already proven to be trusted so why will you still doubt them? Money is not everything, but to some, what is more important for them is their reputation.

This is something that money can't be bought. It's hard to build a reputation, that is why one must take care of it. Like I said earlier, you are still practicing, so you are not totally depending on this kind of service and once you feel that you are now ready on your own, that's the time to stop availing this.

[nur rochid]

Its not really advisable to ask other traders to do the work for you even you consider this particular person as trusted.

You dont know what they up to and if we're talking about money, many people are becoming greedy and tend to forget their responsibility or what they promise.

Its best to do it yourself, learn to be a trader using your own knowledge and experience. Because it feels good to earn if you know you gain it through your hardwork and not because of other people.

Money will bring out the true nature of a person, whoever it is. especially when we talk about the thousands of dollars we want to invest.
The safest way is to manage it yourself, to trade yourself. The most important thing is that we must know the knowledge, start learning from basic knowledge, and gain experience. hard work and profits generated by oneself will indeed be more meaningful than using the services of others, because there will be a process that is carried out.

If you want to do it yourself, it's hard at first, of course you will feel uncomfortable feelings, but that's how you have to go through to become a true trader and investor. maybe at the beginning we will lose some money because of loss, but we can think of it as a school, and it costs money, therefore with the spirit that must be increased it will be able to make us to collect the money we crave

[sklopan]

Of course, I understand everything, but I advise you to remember once and for all - in this industry you can only trust facts and agreements. I don't take any promises.

[taufik123]

If you want to do it yourself, it's hard at first, of course you will feel uncomfortable feelings, but that's how you have to go through to become a true trader and investor. maybe at the beginning we will lose some money because of loss, but we can think of it as a school, and it costs money, therefore with the spirit that must be increased it will be able to make us to collect the money we crave

But as much as possible to minimize these losses, learn from the mistakes of others or the experiences of others and apply them to the trading we do. Losses will still happen to get an experience. We can learn a lot in this forum, there is a lot of knowledge about how to invest well and profitably and losses due to investment can be prevented.

[goldkingcoiner]

1. How do we evaluate capability and credibility of some entities or individuals that trade for people or some professional traders who trade for people?

All of them are scams! If some professional trader has the capability to trade and earn a good amount of money every single day/month, why he would need other people's money? This is the first thing to understand. The behavior is very similar to ponzi schemes and must be avoided by all means.

2. I've seen some Telegram group that sell trading services and signals advice. How do we know if they are good to do business with?

3. Is Telegram escrow system a scam  or not?

Same answer is applicable here as well. If someone has the capability to predict the market, he will use his own money to become rich. Why he would sell it to the public for a little fees?

I am not sure about telegram escrow system. Do you mean it is an official feature of telegram? I haven't seen anything as such!

THIS!

Do not ever trust your money to anyone or anything other than yourself. All those telegram/youtube/tiktok/whatever traders are all scammers. They rent lambos to take pictures in order to dupe people into believing that they somehow made a lot of money trading when in reality, they are just scamming people out of their money. Do not listen to them and do not buy their courses or any subscriptions to trading groups.

I really do not understand how people keep falling for those scammers.

[LouVandetta]

If you want to do it yourself, it's hard at first, of course you will feel uncomfortable feelings, but that's how you have to go through to become a true trader and investor. maybe at the beginning we will lose some money because of loss, but we can think of it as a school, and it costs money, therefore with the spirit that must be increased it will be able to make us to collect the money we crave

But as much as possible to minimize these losses, learn from the mistakes of others or the experiences of others and apply them to the trading we do. Losses will still happen to get an experience. We can learn a lot in this forum, there is a lot of knowledge about how to invest well and profitably and losses due to investment can be prevented.

Mistakes are your best teacher. Well at least to those that can actually admit their mistakes and learn from 'em. You'll only know how much the risks of cryptocurrency investment after you experience the sweet and bitter journey of it. Every type of investement is not all rainbows and sunshine. Only trust yourself tho, make your own judgement and research. Do not trust the so called experts and so on.

[xSkylarx]

If you want to do it yourself, it's hard at first, of course you will feel uncomfortable feelings, but that's how you have to go through to become a true trader and investor. maybe at the beginning we will lose some money because of loss, but we can think of it as a school, and it costs money, therefore with the spirit that must be increased it will be able to make us to collect the money we crave

But as much as possible to minimize these losses, learn from the mistakes of others or the experiences of others and apply them to the trading we do. Losses will still happen to get an experience. We can learn a lot in this forum, there is a lot of knowledge about how to invest well and profitably and losses due to investment can be prevented.

Mistakes are your best teacher. Well at least to those that can actually admit their mistakes and learn from 'em. You'll only know how much the risks of cryptocurrency investment after you experience the sweet and bitter journey of it. Every type of investement is not all rainbows and sunshine. Only trust yourself tho, make your own judgement and research. Do not trust the so called experts and so on.

Yeah, I really agree with this because when I was still learning the basics of bitcoin, I did have a mentor on it to which he just guides me on what should be the next step of my learning. Also, he shares his own strategy, but it is not working for me. So after learning the basics, I started to learn strategies on it to know what is most suitable for me. At first, in demo, I was losing a lot, but later on I got my own strategy and decided to try with real money, but still there are mistakes that I have made and I have learnt from it. Experience is also a big factor in it because you can somehow predict it.

[darewaller]

Do not ever trust your money to anyone or anything other than yourself. All those telegram/youtube/tiktok/whatever traders are all scammers. They rent lambos to take pictures in order to dupe people into believing that they somehow made a lot of money trading when in reality, they are just scamming people out of their money. Do not listen to them and do not buy their courses or any subscriptions to trading groups.

I really do not understand how people keep falling for those scammers.

There are too many gullible people who end up trusting their money to others, or invest according to what others are saying as well. We talk about people who invest by giving it to others and we do not talk about the situation at hand all that much, reality is that most of the people who lose money in crypto are not the people who just give their money to others, but also people who end up investing themselves but to things others have said.

If you are doing that then you are going to end up losing money most of the time as well. Just invest into long term good projects that you trust that will go on for a long time, otherwise it makes no sense.

[LUCKMCFLY]

Most scammers are using Telegram and Escrow platforms to look for their victims. They offer promotions that are good to be true and mostly their victims are newbies and beginners. As for me, beginners should focus on gaining knowledge at least about the basics of trading first so they will be able to determine legit over scam promotions. Also, we shouldn't trust people that we meet online and we must always be skeptical.

You are absolutely right, for me also the biggest scammers are on telegram, just pay attention to the things they say and that's it, it's very simple, for me also a novice cannot trade, I do not recommend the signals either because they are from harmful in some way because it does not let the person learn why they should choose a certain movement, I think that for a novice to be successful they should read books so that they learn to understand the market, also reading books gives a lot of support for many things, even gives the support to determine who tells you lies and who does not.

[Vaculin]

Instead of giving your full money, doing copy-trade is probably better. The problem is this kind of feature is limited and not supported by most exchanges. But at least you don't risk losing your entire funds.

Never use signal service or trading deals, most of the time they're fake and even if it's legit, it won't last long.

Never trade in the first place if you are not capable to trade. Because if you only rely for other people to do your trades, although you gained profits somehow, but it won't be forever like that. Worst is, those you trusted at first will scam you in the end. Although copy trading is quite better than that, but the fact that you only trade from some other trading strategies, that won't make you a good and reliable trader after all.

[Fatunad]

Instead of giving your full money, doing copy-trade is probably better. The problem is this kind of feature is limited and not supported by most exchanges. But at least you don't risk losing your entire funds.

Never use signal service or trading deals, most of the time they're fake and even if it's legit, it won't last long.

Never trade in the first place if you are not capable to trade. Because if you only rely for other people to do your trades, although you gained profits somehow, but it won't be forever like that. Worst is, those you trusted at first will scam you in the end. Although copy trading is quite better than that, but the fact that you only trade from some other trading strategies, that won't make you a good and reliable trader after all.

You could indeed make money but on the time that those people you have copied with will stop then what would you do? Since you hadnt able to learn on your own then
you would really be seeing this to be a hard situation for you to cope up since you dont really have that skill since you are dependent since from the start
thats why its sensible to learn on your own rather than on depending for the rest of your life.

[rodskee]

Instead of giving your full money, doing copy-trade is probably better. The problem is this kind of feature is limited and not supported by most exchanges. But at least you don't risk losing your entire funds.

Never use signal service or trading deals, most of the time they're fake and even if it's legit, it won't last long.

Never trade in the first place if you are not capable to trade. Because if you only rely for other people to do your trades, although you gained profits somehow, but it won't be forever like that. Worst is, those you trusted at first will scam you in the end. Although copy trading is quite better than that, but the fact that you only trade from some other trading strategies, that won't make you a good and reliable trader after all.

maybe it is OK to use that copy trading for a while but of course not forever ,  maybe give them at least 6 months? that is more enough to understand how trading goes and how trading is profitable but risky .

Of course, I understand everything, but I advise you to remember once and for all - in this industry you can only trust facts and agreements. I don't take any promises.

promises are made to be broken , so never buy promises but work it for yourself. remember that it is our money and not from others so we are the sole losers here.

[Ararbermas]

Well for me for sure its a scam mate, especially if that trader came from telegram because mostly users are frauds, and to be honest with you I've never seen a traders that asking a money from other people to trade and promised something in return. What is that an investment? Lol   nope it doesn't exist when it comes trading. So better to stay away and leason learned!

[Leebabe]

You can make a research on them.When you do, you'd find that in most cases it is usually a scam. Do not give your money to anyone to trade for you,walk away whenever you see them.

[TheClownSong]

Well for me for sure its a scam mate, especially if that trader came from telegram because mostly users are frauds, and to be honest with you I've never seen a traders that asking a money from other people to trade and promised something in return. What is that an investment? Lol   nope it doesn't exist when it comes trading. So better to stay away and leason learned!

total scammer this account, good trader never ask money from anyone he will use his trading skill to growth their money and also it will enough for them. scammer will use anyway to lie and take our money. we could learn  by ourself without any guided by joining premium signal group,alot resources we find online in youtube or any site.

[Kasabus]

It's a big mistake to entrust your investment to someone else. even though they are professional traders, we don't know what they will do later if there are no recommendations from several people who have used their services.

Its not really advisable to ask other traders to do the work for you even you consider this particular person as trusted.

You dont know what they up to and if we're talking about money, many people are becoming greedy and tend to forget their responsibility or what they promise.

Its best to do it yourself, learn to be a trader using your own knowledge and experience. Because it feels good to earn if you know you gain it through your hardwork and not because of other people.

Learn to trade on yourself and accept mistakes and losses from your initial trades. That way, you will learn from all your mistakes. Creating shortcuts by entrusting your trades to some professional traders will not hone you to be a good trader, you are only giving yourself less chances to learn and earn. And yes, no matter how you deeply trusted that person, the fact that there is big money at stake, people will always resort into being greedy and fulfill his own selfish desires.