What are Crypto Scams
Crypto scams involve using fake social media sites to market an investment opportunity. Bitcoin is often associated with scams because some people believe it will destroy banks or the global financial system. There is nothing more to the crypto scam, other than the fact that no legitimate online investment opportunity is going to destroy any financial institutions. Bitcoin is a global currency. There are many legitimate online companies that are selling Bitcoin and other crypto currencies. There are even Bitcoin exchange companies that are operating across the world. Cryptocurrency, on the other hand, is a volatile investment.
How to spot Crypto Scams
Prepaid cards Always ask for a refund if you are not satisfied with the product or service. Also, always compare the interest rates offered by different brokers. Full control You should have a very clear idea about the escrow policy. Always make sure that they give you a full control over your bitcoin. High refund policy Never make the mistake of going for a broker that is offering you full refund if you are not satisfied with the product or service. Always seek a 2-3 week return policy. Low transaction fees Look for the brokers who are offering very low transaction fees. Humble payments Do not go for a bitcoin broker who is asking for a lot of money upfront for the payment. Look for the brokers who are willing to make a payment on your behalf.
How to report Crypto Scams
Make sure you see who the reporting entity is. Provide as much information as possible on the scammer. Other anti-spam and security measure the broker has taken. After some research, you may find it a bit tricky to find a trustworthy bitcoin broker, there are some red flags you need to be careful on before you sign up. One of these ways to avoid becoming a victim of a bitcoin scam is to find bitcoin brokers with a clear and focused goal for their clients. A good bitcoin broker understands the importance of doing the right things by their clients and only offers services that help you achieve your goals. How to safeguard your savings? When you deposit your bitcoin into a bitcoin broker, it is really the clients money and the broker is not responsible for any losses.
Get back money from Crypto Scams
If you ever lose money to an online bitcoin trader scam you have a legal right to get your money back. No broker will ever take advantage of customers but it is best to play safe and only place your Bitcoins into bitcoin trading with a broker you trust 100% of the time. What Does Your Broker Do For You? What is your broker doing for you? How many people have you made millionaires out of? Make sure your broker will be handling your order by providing you with accurate price quotes to ensure you get the best price. And, if you lose money or things go wrong, what will happen to you? Will your broker assist you and the situation? They should answer all of these questions to ensure that when you go into a trade, you have a smooth transaction to help your career in bitcoin trading.