Topic: [GUIDE] Don't ask others to BUY BTC for you! (Read 320 times)

It was not a lesson for the 'secretary and partner' but your Uncle, OP. He should have known about one more possibility that could ruin his entire investment - greed.

I don't know what was running in your Uncle's mind, but he should have also got the hang of something like his secretary could also cheat him by making such son stories in front of him and keep the money or Bitcoins himself? That's greed, he could have scammed him right there as money is everything for everyone and they can cross any limits without thinking of future consequences and 'what he did, shows that he was half loyal to your Uncle'.

It is so easy to buy bitcoin on exchanges, and it is so easy to create accounts on exchanges and verify KYCs. There are some good exchanges that don't require KYCs at all, with some limitations on maximum daily withdrawals.
There are some potential reasons to do not directly create accounts and buy bitcoin themselves:
- They are too lazy to create and verify their accounts.
- They hesitate too much about leaking their identities by verifying their accounts. Yes, the rich might hesitate or over-hesitate about that.
Generally, I don't see reasons to let my money on hands of others, with bitcoin, altcoins, or whatever. We should have totally control what we invest, and funds that we have.

You will be cheated if you ask others to buy bitcoin for you,what are you afraid of? Why can't you get things done by yourself? If you don't know how then learn how to.

Also dont buy BTC for others. Since you can get hacked or you somehow lose keys and then you will not only stay without money but also without friends.  Teach people to do that them self. That is the point of Bitcoin anyway.

There are some peer to peer groups that claim Bitcoin can be sold or bought by them. I think it is better you create an account on an exchange and purchase Bitcoin thee rather than give someone money to buy from you.

The problem is that when someone legit comes around that you can trust and makes an offer, no one is interested. They too greedy. 10% per year is too low for them they want 10% a day. Do you see what I mean?
Peoples own greed to take the short route. The poor man will always pay twice. The short cut quickly becomes the longer route.

You're funny, so basically you wanted to buy something you never have any idea of its value. Do you buy a lot of things like that? You must be a good client lol. Yes sure it was your fault. It makes me think about people signing a contract without reading what's written on. Years later when they read it and see all the * they understand

Agree, many financial advisors just want to grab all money they can from naive people, why? Because they risk nothing, they can throw it on any stock and loss it all, then nothing hapens and earn much, so they take cut from profit.
Crazy? This is how it works sometimes they know less about financial markets than people that gives them money. Even more crazy.

It is not available. Nobody would sell for 50% of the price. It must be something illegal/shady/fraudulent/scam

Or it is a donation a friend is making for you.

Even though that offer was unbelievable still a lot of people could have been fooled from it they'll still see the 50% assured gains they will receive if they have bought it from that guy, they don't see the scam in it. The secretary was a total fool to see that the offer was real. He/she is either dumb to believe it or she is part of that doing just to scam your uncle.

Couple of days ago, I have read a story from India, Hyderabad probably. A policeman was influened by a local guy to invest in peak around $20k, however, the guy bought bitcoin for the policeman. After a year, the policeman was started to force him for the money but that guy had no way of returning. At the end, the guy suicide. I'm not sure how kuch authentic the news is. However, it is advised not to influence people to invest in cryptocurrency.

I've started to see a lot of prepaid giftcards from companies like Visa being sold on P2P platforms like Paxful for 50% off as well recently, and you shouldn't buy those giftcards either unless you want to get into legal trouble. AFAIK those cards come from phishing from various sites and it's illegal to use them because all of them are stolen. Everything that seems too good to be true is absolutely a scam in crypto. You're getting a card for 50%, but you've got a lot more to lose than what you're saving by using those cards.

You crossed your own words by speaking 2 different things here. On one hand you say it's a shady business, then how is it illegal to go for a 50% off deal (if it's actually available)?


That's the only thing I strongly believe in, you shouldn't do it at all and even if you do, then illegal purchases need to be done after having complete knowledge and know about risk factors associated with it. He wasn't aware about the carding thing and only saw the title saying 50% off on price of BTC" and that was his only fault which landed him behind the bars. Actually, just like Livecoin issue where nobody gave a read to their ToS (almost 90% users don't tend to do that) and then coming up with issues is what this secretary did here - he wasn't aware and didn't try to know more about how is the guy able to sell it for that cheap?

Bitcoin is somehow a shady business already... Because there are so many scams and shady third party services (exchanges, wallets, services etc)

Trying a 50% off deal in bitcoin is certainly illegal.
Better to do everything the right way.

Oh this is the first mistake I made when entering crypto space in 2017 when bitcoin was at 1500$ ,I asked a friend to help me buy bitcoin worth of 200$ and I was so stupid to trust him ,that's my first mistake ,secondly I don't bother to check on bitcoin to USD value because I never wanted to learn ,but I later get to know that he got me 100$ worth of bitcoin at that time ,I never questioned him till date though ,I believe it's my fault entirely

It's not the ending I was expecting but wow! What turn of events. It's hard to find people you can trust with your money and your financial transactions. It's a good thing it still ended up good for your uncle.

My uncle is a millionaire in terms of our local currency here in India, so he doesn't get much time to watch and even buy anything on his own and gives all such work to his secretary.

The problem!
We all have got some problems in our lives and we need to deal with them, but sometimes some people choose the wrong way. Greed gets us to commit the wrong deeds that we've never meant to be done through our hands. His secretary came to know about a person selling BTC for cheap. He went ahead to save on some bucks by trying to buy BTC for cheap but he didn't knew there's a term we know as "carding". The person who was offering cheap BTC was a carder and he was asking for just 50% (3250) of the ongoing market price ($6500 then), so the secretary thought that he could save 50% from this deal and keep for himself as he was doing it all under greed. But as the phrase goes, truth prevails. He actually bought the BTC but before giving it to my Uncle, he got arrested by the Police. How? Actually, he involved a partner in this deal (this came into light after he got arrested) and both of them had a deal to share 50-50 but the secretary cut his words off by breaking the deal and keeping everything with him. Thanks to that partner who went to the Police and told them everything about this as he wanted that if he didn't get anything, he won't let that guy keep everything. And not to forget, the carder also got arrested as some of the Police guys tried to contact and catch him and they were successful.

This is a lesson learned by both the secretary and his partner and I thank Lord for saving my Uncle from all this mess. Even my Uncle learnt from this that we cannot blindly trust anybody and we should do our deeds ourselves.