He Lost His Investment. See what Happened!

[Wenbing]

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?

It's really hard evaluate people on their self claim.
And if you are not confident to evaluate some information by yourself it's easy that you get fooled.
Most of the times there is a simply gold rule: "If something seems too good to be true, it probably is not."
And if someone is able to get these "big earnings" (stable/fixed etc) why they are searching money from strangers on the web? It would more profitable and easy get money from friends and family.[@Wenbing of course they need to "scale" their business but why asking for hundreds of dollars by several users on the web and not asking directly to a bank? it's time consuming collect money in a such way....]
This is the same way and (fake logic) that ponzi use to operate. If they were so "profitable business" (they earn money faster then repay a debt) why they are collecting money on the web?!

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?

These are just scam. Why they are selling and not using these information for a good trade?
- They collect money (selling "information") - scam - ban users
- They promote tokens - these tokens are heavily dumped
- They promote "buy A" in a chat - "sell A" in another chat (however they will win since it's like flipping a coin at a certain point)
These are only some of the way the act. It's like people that try to sell their betting predictions...

<snip>
1. The professional trader that collected some funds from my friend for investment did it through bank payment. He knows the trader on a personal level. So it was not a web based transaction.

2. You mentioned flipping in your comment. Is predicting cryto trends and buying to sell not a form of flipping as well. Do we say flipping is not a good form of business?

[Mrengage]

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?

First cross check your sentence above, I believe you were to say (a close friend of your's) see, let me give you an hint here is not every investment that is worth taking a risk for, now he doesn't have that mindsets that the money wasn't his money rather someone else. Which he never made a proper research of the investment he was trying to engage in or let's say he got too overwhelmed over the Money in trying to be greedy. He would have stick to his trading method. There is no guarantee to a trader who is a professional, thing's happen in crypto space NO one is a DON in this market.

[lienfaye]

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?

Pro traders are not exempted for committing mistakes and having loses because even how good you are in trading and in doing analysis not all the time the outcome is what you expected it to be.

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?

Im not into it, I mean its better to learn and be a trader itself without relying to anyone. It might not easy at first but eventually you will be use to it step by step.

3. Is Telegram escrow system a scam  or not?

Its likely a scam so dont trust easily and only look for reputed person offering escrow service.

[maydna]

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?

1. We don't know how to evaluate the capability and credibility of some individuals that claim that they can trade well than the other people because we are far away from them. We can believe in their skills, but I guess that will not be good for you to trust a stranger person that offers you to trade and share the profit with you.

2. I never use their services to trade because it is hard for me to see if they really have high-skills in trading. Besides that, I don't know if they can analyze the market with better or just copy-paste from the other guys who already share their predictions for the market.

3. I don't know about the telegram escrow system is a scam or not because I never use it.

[stomachgrowls]

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?

You can see stats given on how a particular trader do perform into its trade and thats the time you do chose up on which one should be the one to
handle out your money but majority of people here that this kind of system is just a crap one.

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?

Never ever consider these signals.It would be much better if you do just make your own and wont regret in the end if that
said analysis of yours do fail rather than depending or relying on others call and making position and end up on loss which
is really a frustrating thing.

3. Is Telegram escrow system a scam  or not?

I dont know on what in the world is telegram escrow system. 

[carlisle1]

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?

First Never trust individuals to handle your money because remember your private key your Crypto so when you let others handled it for you then you are also giving them a chance to scam you.

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?

Lol there are no legit on those trust me,stop fooling your self and never trust those random people asking you for service to gain.

3. Is Telegram escrow system a scam  or not?

Scam and don't believe what they say.

[peter0425]

This is why i never trust anybody in here specially those people that encouraging me to Invest with them.

This must serve as example for everyone here to stop giving this scammers a chance of victimizing us when we have so many option to prevent from being one  by not trusting people without history here of good Good trust and trading.

[jrrsparkles]

No one is professional in crypto investment as your friend said because it is impossible to make fixed income from trading cryptos.

Don't trust the telegram groups that is the heave for scammers to trap people.

[htsy585]

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?

I've seen lots of similar cases around here too, both in cryptocurrency and forex trading. I don't know why people still fall for an investment option as crappy as that because i do believe one thing which is traders aren't santa clause that would want everyone to benefit from their trading expertise and if truly they are good with trading, won't they just focus on growing their own little capital to enjoy the stream of profit amd not having to share it with investors?

Well story such as this is always what ends such investments packages

[tvplus006]

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

Where a guaranteed profit is offered, the profit of which is set higher than in the market, this eventually turns out to be a Scam. All this is similar to a Ponzi scheme, in which the profits of the first participants are paid out of the contributions of the last investors.

[Shallow]

For the first question, trading isn't as easy as most people think, even professional traders gets stuck which proves that no one is perfect. I have seen good traders lose out in a trade but as good as they are, they recovered from other trades. Therefore, there is no accurate way to judge their credibility and to be on the safer side, don't allow anyone trade for you rather learn how to trade.
Secondly, stay away from those groups selling trading signals and services, they are fake and doesn't work either, have seen people lose a lot of money from using those signals.
Thirdly, telegram escrow groups are filled with scammers, so it's safe to say, stay away from it.

[Ridwan Fauzi]

I will avoid it, giving money to some expert to trade is the worst idea. We can do it, we can trade with our own strategy and the chance to get lose is small because we will be prepare and check in detail our analyst.

And I just thinking tradinh by myself will make me aware and try hard to incrase a knowledge against trading and it will be usefull for ourlives.

Especially in this sitaution, when the economic situation is bad and many companies who decided to cut of a lot of employes we will comfortable to face it. We still have a chance to gain money to meet our daily live.

[adzino]

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?

The professional trader probably isn't any professional and had already planned to scam the investor. He was paying him the first few months just to gain his trust. Probably hoped that the investor would eventually invest more. Once he gains the investors trust, and gets more money, he is gone. Classic way of scamming.
There is nothing to evaluate. If you are dumb enough to let someone else completely handle you finance who promises you to give fixed amount of return every month, then you deserve to get scammed.

[thecodebear]

Why would he do that?

Every single one of these things that says they'll take your money and give you a fixed income is a scam. Even if they were trying to be legit, if the market goes against them and they lose the money they can't pay anymore. I just don't see how someone could be dumb enough to fall for this shit.

[maxreish]

It's really hard to entrust your own money to just someone even  if he/she claimed an expert trader. Same with my co-worker. My workmate also said to me that he invested some money to his friend who is a trader and he is giving my workmate just small returns depends on the success of his trades.  I can't blame her since she doesn't know how to read some technical analysis so she decided to do that.
 
 And about telegram scrow, etc. Actually, most of them were just fake. Even those trading signal telegram groups. Do not be attracted to those groups, have a courage to learn by yourself so you don't need to rely with others.

[michellee]

I am afraid that will happen to many new people who don't have more information about investing in the crypto. But I am really sorry to hear your friend story, and I hope that it is the last lesson for him not to trust unknown people which offers an easy profit as what he got before. We cannot easily to trust someone who we know from the internet because we never meet him/her/them, and we need to make sure that they will not scam us someday. It is different if we meet some new people, and we know who are they, where are they lived, etc. I heard that at this moment, many of telegram channel try to invite so many people, especially new people, to join with them, and they offer to give an accurate signal for trading. I don't believe that, and I think it is better to analyze by ourselves.

[Wenbing]

As aviks so rightly puts it,,, everything is a scam.

Assume everything is a lie, and you will be fine on the internet. If anyone tells you anything that you cannot verify on your own, it is a lie.

If you say everything is a lie does it means that even the information we find on the web are all false?

I think this is not a generalization right.

[Sadlife]

People should really consider researching and thinking before trusting their money into people offering business venture. He should researched the background of the guy and demand some proof like trading history and portfolio before fully surrendering his money to an unknown trader that has no real proof of his legitimacy.

[fullhdpixel]

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.

If you watch, our services board and daily news paper's classified (may be not frequently after corona outbreak) are carrying such ads in uncountable numbers. One basic question is, if those traders are able to pay back certain ROI every month, why not they trade for themselves and make huge profits out of their own trading skills.

They do not want to risk their own money but they plan to trade with other's money. If you notice they will promise for fixed ROI (in some percentage regardless of how much they may profit) every month and if losses occurs then the investor need to bear all the losses and not in percentage. Honestly, they are all stealing our money in the name of some white business. If you watch this forum then probably you might have avoided the above scenario for your friend as we do see lots of people are asking such investments here and experienced member of this forum are continuously busting them before scamming this community.

[wxxyrqa]

I believe that the situation that the author described first of all indicates that the person wanted to invest his money in cryptocurrency and make a profit with the help of a broker.  Of course, many people resort to the help of a broker if there is no desire or experience to work in this direction on their own.  Of course, in the cryptocurrency market you can personally succeed, unlike the stock market, but if options are not discussed, you need to carefully choose a trader who you trust your money.  I believe that without a legally executed contract and certain guarantees and conditions, I would not trust anyone with my money.  Cryptocurrency trading has higher risks than stock trading, but income can be many times greater.  Therefore, it is better to learn how to trade and be personally responsible for your results.