He Lost His Investment. See what Happened! - page 8.

Wenbing

member

Activity: 532

Merit: 36

There is gold in volatility..

Quote from: avikz on April 29, 2020, 01:48:39 AM

All of them are scams! If some professional trader has the capability to trade and earn a good amount of money every single day/month, why he would need other people's money? This is the first thing to understand. The behavior is very similar to ponzi schemes and must be avoided by all means.

You have responded very nicely. But what I want you to know is that some crypto experts are good entrepreneurs that always want to scale any business with innovative business models.

In this case, the trader may consider that to achieve high volume of trade then he needs other people's money which at the end of the day people will earn and he will make huge profit.

Its about scaling an idea or a business...

oleg681010

jr. member

Activity: 78

Merit: 2

This is why I prefer to trade on my own. So that such a story doesn't happen.

jossiel

hero member

Activity: 3220

Merit: 636

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Your friend shouldn't allow himself to give investment capital to a trader. The profit is not guaranteed and it's always a roller coaster which means that profit is sometimes good but sometimes it's also a loss. There's no assurance that the money will be returned to him.

And if he gave his money to a trader, why not just trade on his own so that there's no one to blame but himself.

1. I think etoro platform can show this kind of stats. If you want to look to copy trades of other traders, you can see a glimpse of their trading history. That can make your evaluation easily and you can determine if they are credible.

2. Never deal with any of them.

3. Mostly, scam.

xenxen

sr. member

Activity: 763

Merit: 252

it is really difficult to lend money to other people especially and it is a great value.
if on the telegram he transacted you would expect many and chronic scammers there and I don't think if ever get back much to him.

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How do we know if they good to do business with?

actualy we dont know how good are they and then we dont know yet the real identity.

my only advice to your friend is to take his money and learn how to handle it just learn to be trade by his own so better it safe.

LeGaulois

copper member

Activity: 2940

Merit: 4101

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It's crazy, people are ready to spend their money if someone tells they can make money with. Your friend gave his money to someone he doesn't even know and maybe met by chance, surely without any legal contract or something like that...
There is no way a trader can promise a fixed ROI, the same way when you invest with some bank investments.

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1. How do we evaluate capability and credibility of some entities or individuals that trade for people or some professional traders who trade for people?

At least, check all the legal stuff, their records, background, etc, well, a proper due diligence

2

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. I've seen some Telegram group that sell trading services and signals advice. How do we know if they are good to do business with?

Dude avoid Telegram, simple as that. I can't believe people go to Telegram to get trading services

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3. Is Telegram escrow system a scam or not?

There is something wrong in this world :/

joniboini

legendary

Activity: 2170

Merit: 1789

Instead of giving your full money, doing copy-trade is probably better. The problem is this kind of feature is limited and not supported by most exchanges. But at least you don't risk losing your entire funds.

Never use signal service or trading deals, most of the time they're fake and even if it's legit, it won't last long.

avikz

legendary

Activity: 3080

Merit: 1500

Quote

1. How do we evaluate capability and credibility of some entities or individuals that trade for people or some professional traders who trade for people?

All of them are scams! If some professional trader has the capability to trade and earn a good amount of money every single day/month, why he would need other people's money? This is the first thing to understand. The behavior is very similar to ponzi schemes and must be avoided by all means.

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2. I've seen some Telegram group that sell trading services and signals advice. How do we know if they are good to do business with?

3. Is Telegram escrow system a scam or not?

Same answer is applicable here as well. If someone has the capability to predict the market, he will use his own money to become rich. Why he would sell it to the public for a little fees?

I am not sure about telegram escrow system. Do you mean it is an official feature of telegram? I haven't seen anything as such!

Wenbing

member

Activity: 532

Merit: 36

There is gold in volatility..

How a close of mine lost his hard earned money to a bitcoin trader?

He told me how he invested some of his savings to a particular bitcoin trader in the place where he lives.

The professional trader promised to pay profit monthly which is supposed to be a fixed ROI.

It happened that the traders was actually faithful to the promised payment for a certain period.

But, the trader took the money invested with him and use it for other investment. It happened that he lost the whole money.

This became a big case between the traders and the individual investors. As it stands his money and other people's money with him had gone down the drain.

These prompt me to ask some questions:

1. How do we evaluate capability and credibility of some entities or individuals that trade for people or some professional traders who trade for people?

2. I've seen some Telegram group that sell trading services and signals advice. How do we know if they are good to do business with?

3. Is Telegram escrow system a scam or not?

Topic: He Lost His Investment. See what Happened! - page 8. (Read 1042 times)