abel1337
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May 09, 2020, 11:59:47 PM |
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This is why we can't trust people, especially if involves money because people change when it comes to money. You can evaluate the trader's capabilities by seeing his skills in person. Labeling a trader with the term professional will always give you a expectation that he can grow your money and this where your friend where trapped. I think your friend was fooled when he was told that the trader tells him that he is a professional and to be honest, a portfolio can easily be faked and I only believe that showing skills impromptu will able to justify the label professional.
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havoc928
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May 10, 2020, 03:46:53 AM |
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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?
I don't think they are reputable people. In the financial market, no one is reputable. everyone can turn around and say that it was a mistake in the transaction. you will not be able to do anything because you are not committed to them at all. Not only are there Telegram groups on Twitter, there are many on Twitter and they are all scams. The best way to make money is to learn yourself to trade the best way. Never rely on others, money will not be safe.
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Paycoinzzz
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May 10, 2020, 03:51:40 AM |
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Do not trust anyone in this market. They are all like us, they want to make money and if you give them money they will quickly exit the scam. Defi is really a very tough field, because here neither investors nor traders have protection from the government or any organization. The market is operated in many ways and of course fraud is more. Be careful about giving money to others. My advice is when you don't know anything, don't do it. Learn first and make money later, that's the rule to become proficient at a job. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Janation
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May 10, 2020, 03:52:51 AM |
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There are a lot of sites like that. I know someone that would want to invest in cryptocurrencies and he ends up in a site that promises this too. I don't have any whereabouts right now but the last thing I heard to him is that they are offering them a higher deposit and also want to increase their ROI which increases my assumptions that this might be a scam. I already told them about it but I don't know what they did. This is the site, and I hope some people know this or have any experiences about this site. https://riotrades.com/
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adaseb
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May 10, 2020, 04:10:47 AM |
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There are basically tons and tons of these scams all over Youtube, Reddit, Twitter, Facebook, etc. Basically since the Covid19 break and people being stuck at home there is massive surge of people who are investing in stocks for the first time and some of those people are investing in cryptos as well.
Since they are new to trading and have no idea how it works. They usually fall easy prey into these signal services or people that promise to manage their money for them. Basically if you are new to trading, you have no idea if the person who you are following actually trades for a living or not. They use complex terms like Elliott Waves and Fibonocci to lure easy traders in. Then eventually they want a monthly fee which is not refundable and usually what ends up happening is they while the markets are trending they make money but as markets shift they start to lose money and eventually run-a-way with their investments.
This has been happening for pretty much years. This is why you should take the time to invest your own money instead of relying on other people.
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Subbir
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May 10, 2020, 04:31:15 AM |
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When it involves investing, you would like to take a position during a good marketing research without counting on others Working within the crypto market is as easy because it is difficult. So you've got to find out well then work. the amount of scams has been increasing since the virus many of us are frustrated that there's no work during which case newcomers are joining the crypto market and investing altogether sorts of sites without verifying anything well in order that they are falling prey to more scams Therefore first study the market stupidly about earning you'll lose less by investing in it.
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fortunecrypto
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May 10, 2020, 04:36:19 AM |
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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?
It's hard to guaranty profit from trading, people should be aware of this if he is explaining about the profit and not the whole risk, he is putting you in a trap, do not trust these traders on telegram channels they are part of groups that should be avoided I delete a group like that if I am added, they are scammers not really traders if they are good in trading they will use their own money not anyone's money.
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LUCKMCFLY
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May 10, 2020, 04:44:12 AM |
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~snip~
I recommend you never trust those sites that offer on telegram, there are many scam dangers, to manage your money it is preferable that you learn everything about investment very well, so that you can make the right decisions and thus have the best option. Your way of thinking is focused on investment and for this the best thing is to educate yourself through books where they will recommend you diversification, in the Crypto world you can do it.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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Twinkledoe
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May 10, 2020, 05:00:06 AM |
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~snip~
I recommend you never trust those sites that offer on telegram, there are many scam dangers, to manage your money it is preferable that you learn everything about investment very well, so that you can make the right decisions and thus have the best option. Your way of thinking is focused on investment and for this the best thing is to educate yourself through books where they will recommend you diversification, in the Crypto world you can do it. Also, in case of losses like what the OP described, if you will do your own trading, it is only yourself to be blamed for whatever the results will be. But if there is a third party like professional traders that you let them manage your portfolio, the pain of losing your investments is different. So it is really better to manage your own funds. You can start slow, trading of crypto is not an overnight activity. Educate yourself with crypto trading.
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In the silence
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May 10, 2020, 05:05:37 AM |
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Comments and recommendations of the forum members are highly important to new investors that trust their money to professional traders as the say.
It they are really professional and experienced, they wont ask money from you but teach you instead.
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mersal
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May 10, 2020, 02:16:59 PM |
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The real reason of crypto currencies existence is to build a decentralized network so you don't have to trust any individuals when it comes to cryptos or you are in risk od losing your money at any time.And also fixed returns is a sign of scam so don't think that earning cryptos are easy as your friend thought, its just the same as fiat money and it is harder to earn.
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matchi2011
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May 11, 2020, 01:37:43 AM |
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Comments and recommendations of the forum members are highly important to new investors that trust their money to professional traders as the say.
It they are really professional and experienced, they wont ask money from you but teach you instead.
The concepts of asking for payments in order to guide someone to learn trading mostly are after for money and not really professional help that will acquired. For forum members who can extend hands to explain the process if they are really providing information they won't ask for any assistance but instead they are grateful helping people.
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Latviand
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May 11, 2020, 05:54:30 AM |
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<snip> 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.
You have responded very nicely. But what I want you to know is that some crypto experts are good entrepreneurs that always want to scale any business with innovative business models. In this case, the trader may consider that to achieve high volume of trade then he needs other people's money which at the end of the day people will earn and he will make huge profit. Its about scaling an idea or a business... Same thoughts, if someone is asking money and will help you in trading that he will give you huge amount of profit, never trust, easily. If you really know how to appraise people then you will not got baited bu those scammers that are only fooling people just to earn money. Don't give your money to other people easily because there are really a fraud people that will only scam you. Sometimes all you have to do is to work on your own in trading, work on your own investment and only ask for some advice and not help from other people. Learn about trading and investment using your curiosity and urge in learning a lot. There's no limit in learning and having experience in trading that's why it is not guaranteed for you to seek help if it is not necessary. Making huge profit doesn't require you to have another person to guide you, you can do it by yourself, you can earn huge profit with only yourself, you just need to work for it and proper management of your investments.
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wozzek23
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May 11, 2020, 05:59:41 AM |
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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
You are absolutely bullseye there and these groups not just use people as a tool to pump a coin but they also take money from people to provide these details and if even they are able to pump up a certain coin, imagine how difficult it would be for them to continue it? I mean everyone would know that the pump is temporary and actually people would dump their coins as they see the pumping happening. The only genuine groups are those who share tools for trading and provide some good articles, information how to read the candles and how to predict the market swing. There are such groups but they are hard to find, I was part of one such group but they limited to paid participants and turned shit in no time.
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imstillthebest
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May 11, 2020, 07:00:12 AM |
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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
You are absolutely bullseye there and these groups not just use people as a tool to pump a coin but they also take money from people to provide these details and if even they are able to pump up a certain coin, imagine how difficult it would be for them to continue it? I mean everyone would know that the pump is temporary and actually people would dump their coins as they see the pumping happening. The only genuine groups are those who share tools for trading and provide some good articles, information how to read the candles and how to predict the market swing. There are such groups but they are hard to find, I was part of one such group but they limited to paid participants and turned shit in no time. its not difficult for them to continue if they are earning easy money from it and even if they got caught they can still comeback with a new one . pump is temporary to some coin but to most coin no it isnt . if you involved on those fast pump and dump coin then you yourself should be aware all the time for the activity of your chosen coin . also how can you say that those share infos and tips online are geniune ? we dont know maybe they are also leading us to a wrong direction . thats why i limit myself looking on them
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Botnake
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May 11, 2020, 07:49:03 AM |
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Your friend needs to learn from that mistake, the fact that he trust other people to trade for him, there's always a risk and there no such thing as fix return as no trader wins all the time. Actually that's the problem with some investors, who like their journey to be easy in making money in crypto, well, that was wrong and that experience should not happen again, he needs to learn and grow up, crypto investing and trading is a high risk, and there's a reason why it's called that way.
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Yamifoud
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May 11, 2020, 01:53:54 PM |
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Trust will really matter especially when we are dealing with other people online. Actually, this scenario happens so many times but people are still not changed. But as I've understood with the case of your friend, they already have some trades in the past day and that certain thing giving them to trust each other and that will be the reason why the traded person takes advantage of it. I don't know it was a plan but something it looks like that.
And for that sort of learning, it is possible to have trade only to exchanger in order to minimize the risk. We can still make a deal with other person provided he can really be trusted and reputable person.
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LbtalkL
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May 11, 2020, 02:20:19 PM |
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If he/she really wants to invest in trading, why learn how to trade himself right? For some reason, maybe he can't handle the stress or fear of loss in trading that is why he invested in a trader instead? Even though you're an expert in trading loss is always possible so it is very risky. Those telegram that gives signal are not good, What if they said to buy this coin at this price so they could dump? Most of them are manipulated or only after VIP fees. If you have friends that know how to trade better learn from them.
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ethereumhunter
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May 11, 2020, 02:33:55 PM |
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If he/she really wants to invest in trading, why learn how to trade himself right? For some reason, maybe he can't handle the stress or fear of loss in trading that is why he invested in a trader instead? Even though you're an expert in trading loss is always possible so it is very risky. Those telegram that gives signal are not good, What if they said to buy this coin at this price so they could dump? Most of them are manipulated or only after VIP fees. If you have friends that know how to trade better learn from them.
He doesn't have to trade if he doesn't know how to trade better, and only choose to invest side in crypto. That can give him a profit too than to trade because the market cannot always be predicted. The telegram channel is hard to believe in getting the right signal because I saw that many of the channels only shares the sign from the premium channel and pretending that they analyze with their skills.
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adjed
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May 11, 2020, 02:46:21 PM |
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That's mean your friends doesn't know about trade am i right? Otherwise one ways you can recommend your friends come crypto market and do invest in good coins. Even you know if you have good skills in trading then your risk chance is to low so quote to the most important thing learned and follow professional traders. For fake signal after all these many telegram service so i like avoiding.
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