He Lost His Investment. See what Happened!

[TheGreatPython]

You do not trust any other person with your bitcoin. Simple as that? I mean why would you trust someone else with your money when you can do it yourself? Sure if you are not really a great investor and you can't trade, just don't do it? There are investments that are so simple that requires nothing. So, just go to bank and open an interest savings account, simple as that.

However if you really want to make a lot of money, and you risk it by giving all your money to someone else, you kinda deserve to lose all your money, there is nothing you can really do to make that much money that quickly. The second and third is basically same, do not trust others, there is really no reason to trust telegram people, they could very well be scammers so no need to trust them.

[Kelvinid]

An attractive offer makes your friend out of his mind and that because of that, he gives his trust pretty quick without hesitation. He has probably been tricked and that is a common play this time. If we care about ourselves, our money, I don't think we arrive at that moment.

We can't deny that some people will take advantage of the young mind in here. Their job (as a scammer) is to hunt newcomers and gives them a very nice offer which it eventually giving no option but to accept the deal and that it certainly be happening with your friend.

[Oilacris]

An attractive offer makes your friend out of his mind and that because of that, he gives his trust pretty quick without hesitation. He has probably been tricked and that is a common play this time. If we care about ourselves, our money, I don't think we arrive at that moment.

We can't deny that some people will take advantage of the young mind in here. Their job (as a scammer) is to hunt newcomers and gives them a very nice offer which it eventually giving no option but to accept the deal and that it certainly be happening with your friend.

Thats why scamming cant really be get rid of because of peoples greed in mind.This is actually our weakness when in talks of money
where people do easily believe into something and thinking that they can make theirselves rich in no time.In result? Theyve been fucked
up and just being scammed and realize the stupidity that they had made.Well, its charge to experience.When it comes to our money
we should really search up everything first before making any steps because we know that making money is really hard and
dont waste it up just because of dumb decision.

[Lizzylove1]

What has just happened to your friend is some shit borne out of lack of financial intelligence. These type of investment was what I loss my fund to, not by giving my money to a known friend but some scamming companies in 2017 in a big quest to double my bitcoin I went all out in all manner of crypto investment. The most damaging of all was USI-TECH, I loss big but that didn't end my world, it only affected my marriage. Never again will I return to Egypt, Amen.

[thesmallgod]

I will advise you to stay away from any telegram signal groups. Both paid and free because I have ones a victim of this. They use their member as a leverage to pump some random token when they already buy at low price. They have many similar groups and their signal are always coordinated so that they get the needed impact

[Etepo74]

For me I'd tell you this!!! I'd never give my money to anyone to trade for me. It's as simple as that. Credibility these days is a rare concept.
My money is safe so long it's with me. I can't guarantee it's safety in any other entity's possession.
Best I'd do if I want to trade is learn technical and fundamental analysis by myself . It might take a while but it's the best option in the long run.
Some of the so called signal services and groups are not even 100% reliable

[cabron]

Don't trust anyone with your coins, treat it as real money as it is money.  It's best if you just learn to trade yourself, at least, you will have the experience of doing it even if you lose. And not giving it to someone who will just run the moment you sent it.

Anyone who will act like a funds manager will just have to do it in the regulated market to them to be real not here in the decentralized market.

[hahay]

How can this escrow system be applied because when investors give or enter funds, then when the funds are received at least the funds are immediately used for trading. If funds are kept in escrow, how traders will start trading and one thing that you should at least be aware of is about services that are truly legal or not, because when you easily trust everyone or any service that offers a fixed ROI every month then that too a mistake, because the situation in trading is not always the same and so, the ROI that will be received will also always be different.

[Utoy101]

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?

Scenarios similar to this is common in forex and binary trading amd I'm not surprise it has entered the crypto space too, well this is all it always ends as one way or the other, the so called expert will come up wit gv stories on how they loose the money either by saying they got their account burned or they got scammed or they got robbed. The only annoying thing is that people will keep falling for such cheap scam because of greediness

[imstillthebest]

Scenarios similar to this is common in forex and binary trading amd I'm not surprise it has entered the crypto space too, well this is all it always ends as one way or the other, the so called expert will come up wit gv stories on how they loose the money either by saying they got their account burned or they got scammed or they got robbed. The only annoying thing is that people will keep falling for such cheap scam because of greediness

i read what the op wrote and i dont see that he mention professional or expert  .

 his friend is just a newbie but pro or expert traders do also experienced to get scammed and many hardships before they achieve thier success   . giving control your money to someone else sounds a crazy idea  . this is called laziness and not greediness at all because he dont take time to learn it on his own .

[culuuton]

It is best not to join any organization or individual to raise capital and promise to pay with attractive interest. Regardless of whether reputable or professional traders guarantee, the end result (100%) they will disappear with your money. Phishing groups are appearing more and more on telegram so we should stay away from them.

[GreatArkansas]

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.

I also already head this kind of scenario about investment, especially here in our country which a lot of people are too dumb to trust those kinds of people who promised them to give a fixed Return Of Investment (ROI) monthly/quarterly/yearly and it is compounding.
Does he/she don't have any idea on this such of investments? Jeez, it's just so sad that there are still some people who easily fall on this.

[ethereumhunter]

It is best not to join any organization or individual to raise capital and promise to pay with attractive interest. Regardless of whether reputable or professional traders guarantee, the end result (100%) they will disappear with your money. Phishing groups are appearing more and more on telegram so we should stay away from them.

Many people attracted to join in any project that they think can give the profit in a short time. They invest their money without search for more information about the project, so it is like to invest in the unknown project. It is better to manage our money by ourselves, so we know how to increase the amount of money from those sources that we trust.

[Slow death]

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

this is the worst mistake anyone can make

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

professional trader doesn't need other people's money, your friend should ask:

if the professional trader can make a profit then why does he need other people's money?

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

this was to deceive your friend

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

your friend has the right to report this to the police and demand his money back

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.

did more people fall for it? and someone went to report to the police?

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?

never fall for it, trade in person or hold

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?

they are deceiving people

3. Is Telegram escrow system a scam  or not?

never heard of it

[cassavachips]

Never give your money to those who offer trading services, that's stupid.

For trading signals, there are indeed bad and good ones. I have a signal that I trust and they provide good trading advice and of course if you want to use their services, don't expect all the good signals because they are not fortune-tellers.

Do not do escrow from people who offer themselves via telegram, all just bullshit. Scam!

[darewaller]

How about you guys learn trading instead of having to look for the so called experts? This is not something where you trust just anyone with your money. It is best that you hold your money and do it yourself instead of having to invest in others. That's something I have never tried because I prefer to do it all by myself, even though I know it's not easy, but at least I'm safe from someone taking all my money.

If you still make up your mind to invest with an expert trader, then you should take your time and look for those with a good reputation, those that have been doing the same business for a long time without having issues with their clients.

[stomachgrowls]

How about you guys learn trading instead of having to look for the so called experts? This is not something where you trust just anyone with your money. It is best that you hold your money and do it yourself instead of having to invest in others. That's something I have never tried because I prefer to do it all by myself, even though I know it's not easy, but at least I'm safe from someone taking all my money.

If you still make up your mind to invest with an expert trader, then you should take your time and look for those with a good reputation, those that have been doing the same business for a long time without having issues with their clients.

They do like for everything to be fast track and make money directly without even minding the risk involved or people are just way too lazy to learn up everything from the start thats why when they do able to see

someone who do make big money on a particular thing then they do tend to copy it out and selecting the easiest one and convenient for them which do falls out into this option neither copy trading or fund management

by those so called experts but come to think if i were a professional and profitable trader then i wouldnt let myself get attached into those copy trades or something and just do things by myself.

We do need a little bit realization and a bit of logic.

[Wenbing]

How about you guys learn trading instead of having to look for the so called experts? This is not something where you trust just anyone with your money. It is best that you hold your money and do it yourself instead of having to invest in others. That's something I have never tried because I prefer to do it all by myself, even though I know it's not easy, but at least I'm safe from someone taking all my money.

If you still make up your mind to invest with an expert trader, then you should take your time and look for those with a good reputation, those that have been doing the same business for a long time without having issues with their clients.

Thanks for the guide. I personally have taken some courses on trading and how to use some technical analysis signals.

Can you recommend the materials you're learning from as regards trading crypto.

Thanks...I think that's the way to go.

[Yatsan]

This is why I prefer to trade on my own. So that such a story doesn't happen.

The root cause probably in this situation to why the victim agreed to invest money to a professional trader is that, he wants to have an assured profit from trading due to the label "professional". It is money which is on the line so you better put it in your 'hands' since that is your money in the first place that you invested. Asking for help and tips would be a good thing to do but depending on them to much would not be advisable. It is your money and that should be enough for you to take full responsibility of it and make decisions for yourself. It is like paying someone to do your project.

Know what you are engaging yourself into. Familiarize yourself about it to avoid being fooled by other people. If you are not that knowledgeable, do not rush things and take time to have an initial idea because there will always be people who will take advantage of the things you lack once they get the opportunity.

[Wenbing]

~~~~
Just understand that people who promise things like that are 100% of the times scammers .
This is another benefit of Bitcoins * you don't have to be dependent on someone else * so , just use this , stay away from fake promises.

There is always an exemption in every phenomenon or issue. We can have smart entrepreneurs that decides to do this form of business after due diligence and with a proper business planning.

Its just like the forex broker who does brokerage.