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Special trading platforms have been created for the development of cryptocurrency and profit generation. This is an internet resource that allows various operations using cryptocurrency. And where there is money, even virtual, there are always scammers who dream of seizing this money.
Trading Platforms
Not everyone knows how to trade currency, especially on trading platforms, so most people entrust their finances to brokers. To avoid becoming a victim of fraud and to get a real profit from investments, it is necessary to know which brokers are honest. For this, you need to:
- check the license, a real professional has a license, if it is absent, then it is not recommended to deal with such a broker;
- check the reputation, visit the broker's site and read client reviews;
- study financial indicators, if the broker has high turnover, it means that people with large capitals work with them, which allows them to be trusted;
- consider the risks - this information should be on the broker's site with a notification that details what risks await when signing a contract;
- terms of cooperation, before making a deal, you need to study what commissions are paid to the broker, their loan rates, and the terms for investment transfers.
Trading Fraud
On trading platforms, scammers actively offer their services for conducting financial operations with cryptocurrency, luring clients with their strategies and promises of high returns at a large percentage. They entice people by stating that investors need to act cunningly and work with special brokers who charge small fees for services, arguing that brokers on well-known and large platforms ask for too high commissions. In reality, these fraudsters are not associated with brokerage companies, are not going to make any investments, and the high returns are a fabrication.
To get the victim to make high investments, initially a small amount is thrown in for trading. After that, the scammers allow it to be withdrawn along with fake profits, these actions endear the investor to them and allow trust in the pseudo-broker. Then the victim, supposedly independently, decides to continue working and invest new funds, while the broker suggests trying a larger amount. The victim naturally agrees and will never see their investments again. In most cases, after stealing the money, the scammers cease communication, close the site, and already create new sites in search of a new victim.
Fake Brokers
When first getting acquainted with a broker on a trading platform, it is necessary to simply check them to see if they are a fraudster. An honest broker always provides the client with information:
- about the name of the company where they work;
- about the place of registration and dates;
- about the company's legal address.
- Main signs of broker-fraudsters:
- operate on trading platforms without the appropriate license;
- suggest replenishing another person's cryptocurrency account, allowing them to hide these transfers and not return them;
- confidently guarantee a high level of profitability;
- transfer funds to the card of a so-called "personal" manager.
However, it is still necessary to be vigilant because scammers know how to forge documents. An inexperienced investor at first glance may not recognize fake documents.
You can conduct research yourself, knowing the broker's last name and first name, search for them on social networks, read reviews, if such a person does not exist, then it's better not to start working with them.
Trading Scams
A scam defines deceptive actions related to trading or selling services, goods, depending on what the scammer's goal is. There are two types of scams on trading platforms:
Access to confidential personal information - this scheme involves seizing information about the victim's personal data, passwords, and access codes to financial platforms, banks, computers, or smartphones;
Deception - in this case, scammers try to deceive victims so that they, of their own accord, transfer money to the scammers from crypto wallets, believing in their scam offers about profitable projects and investments.
During investment scams related to cryptocurrency, scammers lure victims with promises of high returns and disguise themselves as brokers, managers with extensive experience in the trading field. To understand whether it's true or false, it is necessary to analyze the offer and not immediately trust new acquaintances who first contacted and offered this job.
There are many scams related to trading on the network, so it is necessary to clearly understand that most of them are fraudulent schemes, and finding an experienced broker requires time, studying information, and reviews.