Topic: Beware of bitcoin trading scams -YouTube fake traders- (Read 238 times)

Traders or investors that do youtube is actually doing a great job promoting and sharing their knowledge on youtube, But the thing is owners still pick top influencers on youtube that doesn't really know anything about trading or cryptocurrency. If you think about it, they just want to influence a lot of people in my opinion so a famous influencer or someone that has a lot of views and subscribers is most likely picked to promote fake websites, etc.

A lot of famous people tend to post fake trading photos in a lot of social media platform to influence a lot of people and potentially affect the market price.

Youtube does not filter ads as long as it pays. They tend to receive money than filtering the ads if its content is bad or or not. They can't also assess the fake ads or with the intent to and this is their hold. They will going to wait until the add will be reported from someone to support the possible removal of ads. But only after I guess they will conduct their own assessment if it is a scam or not.

This is how they work in my opinion and so sad that there are few users who get scam by this. I think youtube should get the identity of the one doing ads somehow to trace the scammers and then put to jail if they can scam huge money from someone.

We should not generalized all the youtuber since there are some youtubers who do a good job regarding on giving a tutorial or any trading tips, but we cannot really erase that their are jerks entering the platform and spreading some fakes tutorial,click baits, and worse those scams promoted by them. And we should really think that there's no one can give us easy profit especially if they say we will get the profit from trading passively since this is totally scam.

That's the point most people don't get. They've always failed to believe in themselves especially when they've got some rainy days which makes them more vulnerable to be victims of scammers. It's always going to be so and as we have a lot of them in our midst this days, your more likely to meet one everytime you attempt to trade on or with new platforms.
If you've not been getting it right, it means your strategy is wrong. Do a proper research and test run it with what you can afford to loose, study the market structure, know how to calculate and when the profits should start coming. Once you start getting it right, research in more useful strategies, you'll surely get better.
Don't to depend entirely on signals. It might be right, at other times it might be wrong. Always have your way to verify how correct it is and always play it safe.
Learn to develop trust in yourself.

Influencers is the most disgusting imaginary job I have ever landed upon to. This wanna be traders are just in for the views especially in Youtube, they do not care whether you earn, they want is your views and they have no intention of helping you. You also should put in mind that anyone who reveals their hand is either a fool or con.

Today one of the easiest to earn and to lose money wee with the use of bitcoin trading and many people today would like to make money with this but the problem is are they really earn money or losing.

Trading requires a lot of money and skills to make accurate all of your trades and win most of them sometimes there are a lot of people would like to earn money but doesn't want to learn and makes a trade on their own so some of them become dependent and let other people trade.

Usually, if they are watching related into trading youtube is the best platform sometimes the youtube suggest them different videos related to their favorites and some of the scammers right there ate promoting

You will invest and I will trade

This kind of concept so as a newbie you would like to earn you will be caught on this trap for sure at the first stages or first weeks or months the scammer will pay you but at the end of the day they going out and take all of your money and they will block all of your communication.

Traders can be misled by fake trading volume.

Sources:
https://www.bti.live/bti-september-2019-wash-trade-report/
https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf
Bitcoin Volume Validator It is a tool to use for coder.

And scam or not scam, One of the Best Weapons in Trading is the should use weapon to protect your capital.

I think pretending to trade or faking it is popular and done by a lot of people. Also YouTubers most of the time, in reality, is sponsored when a website pays some influencers on youtube a lot of their subscribers could easily be a part of that. The thing here is most of the YouTubers don't know anything about trading they just make a video for it because it is paid or sponsored by a website, they don't have any idea if it is a legitimate website or not.

For sure most of the experienced trader don't really listen in a simple video in youtube because it is just so obvious to them, Faking trading is just one of the method to easily influence someone that don't have enough experience in trading.

This makes me think of this bitcoin fund manager guy.

https://www.youtube.com/watch?v=OcAotaGHRfo

It works like this: he's supposed to be a professional trader who will trade your coins for you.

Don't ever believe that some random guy in the Internet will manage your coins for you. If you send coins to these scammers you can only blame yourself for the loss.

Youtube is an easy way for scammers to reach a large number of inexperienced people. Their activities are first understood by an experienced trader, which is why they ignore such Youtubers. A professional trader doesn't have much time to make any kind of video to impress someone in the wrong way. It is not easy to trust someone you know online, it is risky to make a deal with someone you trust. In your inbox will come those whose main purpose is to scam. So you should do research to increase the scope of your own knowledge.

Many who fall victim to this scam are falling because of -ignorance/unaware- or maybe greed -the scammers can come cheaper than real one's- we still can draw attention/clear it out about this possible scam.
If we see falling from scam from our view -already smarter- we might miss important warning to give.

So what you are saying here is that the scammer is targeting inexperienced traders and convince them to send him money since he is a successful trader!
Why would you trust a random guy you just met online? Who does so must be very desperate.
I suppose there are many victims falling for this and sadly there is not much we can do to prevent this since in this scheme the scammer is contacting his victims directly and probably via private messages.

It is applied to keep your trading life safely.

- Don't be greed and jump into margin or leverage trades if you don't make your research on how exchanges you intend to use for margin or leverage trades do their liquidations on your account.
- With margin or leverage trades, just to be safe, you only allocate very small fund for it (less than 10% of your total capital).
- Try to not use leverage that is higher than 10 (good if at x5 and less).
- Create and have some accounts on some exchanges.
- Should not try all new exchanges and ignore their too attractive payback, promotions. New exchanges can be scam exchanges.

And those people who wanted to get easy money are most of the time believing on these kind of frauds. They think they will have a passive income after investing money. A lot also invest large money. The scammer promisses them that they will get their percentage every 4 months or less. But then runaway the investments that he got from his victims.

Indeed, the person must dig deep into research about Bitcoin, Bitcoin trading and all the exploit scammers are using to enticed people into investing to their scam scheme.  There are news in my country where a person pretending to be a Bitcoin trader scammed several investor.

It is due to the lack of knowledge that the scammer are able to scammed these individuals.  So it is better to do research about the venture we wanted to get in in order for us to at least detect if the offer is too good to be true or not.

  Is bitcoin tradable or can you trade bitcoin? Bitcoin is tradable, there are ways in which people/individuals trades Bitcoin -trading on an exchange is one way- not just Bitcoin -altcoins are traded- do further research/sorting on trading cryptocurrency trading -if its new to you-.

But what I want to brief on
      Bitcoin trading scam -YouTube fake traders-

       Trading of Bitcoin,crypto-coins isn't easy, can be difficult/confusing -worse you can lose-. This being so makes people search or hunt for traders -some fake/scam- to help them to do so.

With/using assumed real life illustration

Mr Abel is into Bitcoin trading -but has bitter/sad experience- and is actively viewing and commenting on videos partaining to Bitcoin/cryptocurrency exchange. Mr Abel can be reached by
+ the main scammer -fake/scam Bitcoin traded
+ fake individual/group/exchange and so -claiming to have been helped by the scam traded after series of personal fails thereby linking Mr Abel to a scam trader- if Mr Abel is not the rational/cautious person he would fall into this and get scam maybe not once -this scammers always have story's/something to say- to keep the likes of un cautious Mr Abel sending funds.
 
 + real/legit Bitcoin trader shouldn't contact you directly when you did not make any enquries to them, their site, page or so on.getting contacted like how Mr Abel was is a high risky scam potential-

+limit/watch your involment -comments, likes- on some post, videos -be private- you can follow/monitor the post if interesting you can reach whose necessary.

+ ask about: search the rating/credible nature of the trader your funds in at stake and if scammed once or that feeling pricks you -STOP/DISCONTINUE-

+ learn to -do your trading-: you are the most trusted person you can trust, learn to trade -there are trading classes, demo/imitation trading,books- giving yourself adequate time to learn -THERE WOULD BE LOSES- just consistency/work you would come out average/good or mastering it.