With billions of dollars traded every single day and the huge rise of Bitcoin, the cryptocurrencies market offers unregulated brokers the lure of earning huge returns in a limited amount of time. However, it’s almost impossible to be a long-term winner if you are not a professional trader. Worse than that, a vast majority of online unregulated brokers are even manipulating prices to make you lose your money faster so you can deposit new funds. Many fraudsters have seen the opportunity to scam people with crypto offers. They pretend to be a reliable broker, but you won’t hear from them anymore as soon as you make your first deposit. This is why you should make sure that you are dealing with a legitimate regulated broker and not a scam.
The best thing that you can do, is to make sure that you are avoiding any unregulated crypto currency broker. If you trade on a regulated platform and you are not an experienced trader, then you should also be careful and only invest money you can afford to lose. Moreover, don’t let any broker so called “agent” trade on your behalf or you will probably wake up the next morning with an empty balance. Research is key. It doesn’t matter if you have the right experience in the crypto sphere or not. You should do research about what to expect, and about the company behind the broker making sure that they are legit and regulated. The more research you are doing, the less chance you are going to have to fall for a scam.
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If you already are a victim of a crypto trading fraud, you should report them immediately to your local police. It is important that they know about these scams and try to find the sources. However, are you going to get your money back, by reporting it to the police? No, the chance that you are going to get your money back from the police is almost 0. They might catch the individual behind the scam, but they will not be able to recover all the money.
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If you have knowledge and experience in stock trading, you can have a chance with crypto trading. However, just like any other investments, there are risks involved, and risks are even higher for beginners. Those that are successful with trading are making a huge amount of money. The more people hear about this, the more they want to try it. And, this is where the trouble begins. They don’t realize that the cryptocurrency market is extremely volatile and can therefore cause you heavy losses if you are not extremely careful about what financial product you invest in.
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The main reason is the of lack of experience and knowledge. They are seeing the advertisements for great results and guaranteed profit and they are falling for it. Or, they tried crypto trading and got lucky just like some people can get lucky on any type of gambling at one point. Then, they are trying again, with even more funds, and they eventually lose everything after a losing streak. But the biggest factor which explain the increase of victims of crypto scams is the rise of unregulated platforms offering to trade bitcoin and other cryptocurrencies, stealing customers funds and basically disappearing at some point.
You might have already been scammed by an unregulated broker. People that fall for such frauds don’t always consider the fact that they can get assistance for this. They think that people will laugh at them. But, this doesn’t mean that you should just ignore it, and try to go on with your life. This is not something you are going to forget over night and it may affect you in a lot of ways. The good news is that with the technology that we have today, it is a lot easier to get assistance after falling for this type of scams.
This is good news. It is possible for crypto fraudsters victims to get their money back after they have been scammed. The secret is that you should just know where to find the right assistance for this type of scam. Unfortunately, disputes involving authorized transactions are hard to handle and require a lot of technical knowledge which means you will need the help of lawyers and experts in the field.
