Topic: Must Read: Scams disguised as premium signal groups/channel - page 3. (Read 657 times)

Those which fall into those scams do so because they really do not stop to think if what they are reading makes sense or not, a strategy that wins every single time sounds appealing, as who would not like to have a strategy like that? However they forget that such a strategy cannot exist and if it did no one will share it, so they are easily deceived by scammers and they are attracted to those groups, and then they read all of those fake reviews and they get convinced that what they are seeing is real, so they finally give some money to those scammers, money they will never get to see again.

Your point is however a warning for us as I have seen many scam channels where they cheat people with different signals.  Earlier I saw a channel where the channel was premium, but they didn't have any group to text. And I think channels that don't have groups always get scam traps just to grab money from people. Most of the new people think of trading after seeing those signals, and sometimes they lose money especially those people give some tempting signals, for which people go to trade according to those signals. Those people who make such predictions are mostly wrong, so it is best for beginners to be careful. Basically, I think the things you have shared here will be beneficial for a newbie and everyone, it always helps us to learn a lot. So by reading this article, we must avoid accepting those scams and never trade using such channel signals.

This is why I don't trust any trading signal because there's a high possibility that they are scammer who are after your money.
I've seen a lot of offers here claiming to have a 100% strategy to win and make profit hopefully no one follows that fake signal group. We should be more knowledgeable about the market and I'm telling you, it will be worth it than to join any signal group, stop wasting your time and your resources on any signal group, that's too risky.

Perhaps, that was a problem for many traders, they easily fall into the traps of scammers because what is in their mind is all about money neglecting that is can be possibly a scam project. I was very certain that the scam would never end and they will come up with new and effective ideas that even experienced traders may fall into their hands.

The only option and I know is it quite effective to avoid them is not to trust strangers who offer help as it is their tactic to gain trust and then execute their plan. We have anticipated it before we fall into their trap.

Unfortunately, the world revolves with money right now. If you don't have the capability to pay, you will never received good ideas or strategies that will help you maximize the profits of your investment. However, with the existence of paid channels these days, I cannot say generally that they are into scams. Some are actually just trying to use their channels at an advantage to provide helpful tips and ideas in exchange for money to improve trading and be successful on it. Some are really reliable but majority are already driven with greed and end up scamming the people while trying to market their strategies in exchange for money.

And those who are greedy and are already hunger for profits will eventually bite this kind of offer. But still end up losing their trades because what they paid do not really work, even if they say that work for those who provided them.

AcTuAlLy (makin fun of myself there)...although I agree MOST are scammers/schemers, I just joined one that's kinda cheap that I've been wanting to get into for many years. She's VERY good, and posts data on all the trades, with profit/loss stats for each trade. She also tells you where to put stop loss, and different targets for exit, so it's not just like "buy this coin now!" kinda pump n dump. Her TA is top notch & she has a HUGE following on X (I know that's not an indicator) but she's kinda a big deal, with a team & magazine & movie even I think & does give some free signals on X where you can see her TA is GOOD.

I'm kinda new here as far as posting & am not sure of exact rules, so don't think I can give her name or link to her site...that's NOT my aim....and won't tell you if you ask, even though I do have referral code, cuz this (bitcointalk) is the only site I lurk on to get good info about crypto & I don't wanna jeapordize it. Though if someone w/good merit assures me I can say her name, I will only give you her very commonly used first name & you can find her w/a little effort.

I just wanna say there are some really good ones. I've been in crypto since 2016, though I still feel like a newb...and lost a bit trading like a degen. But I did that to myself, not cuz I followed others' coin recommendations [well, not technically...though I did flw high quality accts on X & would DYOR before making purchase (usually LOL)]. And then I'd get emotionally attached to coins, so this TA group is what I need so I just follow their rules accord. to her TA signals that show where to put SL & 1-8 profit targets. When you always get out of a trade at approx. 3% SL but almost all trades are exited w/minimum 5-10% (oft way more) profit, with very few being at a loss, then you win...cuz her TA is tops.

Yeah, that's how it is. There's this thing that goes like this,"you never know until you try." So the thing is, those who don't know about it easily fall for it. But when they experience the scam, they learn it on their own. After this experience they become cautious and try to avoid any scam by any means necessary. Only then they try to see the picture from a different perspective.

Only a few will try to listen and avoid getting scammed. And as humans, we are more likely to do things that we are told not to. That's why even after reading this and that, they always fell into scams because they want to learn it on their own. I am not against this idea because what you lose you can always make it back. But you learn a very valuable lesson with that. Either way, it's good to share these and let people know. So thanks to OP for this post

Yes, it's their loss when they don't listen and keep falling for one or the other trap when these scammers comes with new tactics. I have started joined one such group and their YouTube channel where they offer free signals and as well as premium only for paid subscribers over telegram and in the last 6 months they have made so many predictions which went against them and they even disabled YouTube comment section as users started posting negative stuff about the channel and all of a sudden I see these guys boasting about their prediction as few recommendation they made and asked us to invest in some altcoins 6 months ago has performed but if we check all their predictions in last 6 month they have suggested more than 150+ altcoins, now they have picked few altcoins which has pumped during the month of October and gaining more subscribers/paid participants.

People should just think about one simple fact that these guys would be billionaires if they can predict so accurately and all the subscribers will be billionaires as well and they will not be asking for $100 or some amount as a subscription charges.

That's true that they're coming up with new ideas every time they're being busted with their former method.

But the good thing about being a good analyzer of these scams is that  you're able to provide info to the ones that don't have an idea yet of that scam you've figured out.

That's why sharing it to these forums like BTCTALK is one way to go and if they listen, that's good but if they don't, that's their loss.

These signals groups have been long debunked but still they exist because many don't listen.

I think giving them leeway is going to make it worse. Sure, nobody forces the members to follow their call, but if they consistently make pump-and-dump signals or even fake calls, then we should at least call them shady instead of a signal group. People will always put disclaimers like that to avoid liability, but I'm pretty sure we can at least argue if they are doing it purely in good faith or not depending on how they make the calls. But yeah, I do agree that people should just ignore them altogether. Finding one that do it in good faith is almost impossible.

Actually, no one can deceive you unless you allow yourself to be deceived because of carelessness and easily believe the promised benefits, fraud is always everywhere and it doesn't look like fraud because fraud will happen at the end of the story.
It is best to learn more about trading yourself, and become an expert in fundamental and technical analysis so that you can thrive in the world of cryptocurrency and it all depends on your hard work and efforts to do so.
And since I got involved in this industry, I never wanted to get involved or know about cryptocurrency trading signals or channels, no matter whether they are true or scams. And I always try to develop and correct the abilities and knowledge that I have. And whether the results are good or bad, it will be a satisfaction for me.
If my trade is not profitable then I will correct the mistake and if it is profitable I will increase it and I do it according to my ability.

Doesn't matter how good you are at analyzing scams and legit things that will always be people / scammers coming with new ideas every day. And it's not the people who have been around for a long time that falls for those scams rather it is the newbies who fall for it easily. Knowledge is everything and experience is the key to avoid such thing. Even if there's a legit signal group / channel, why should one rely on it? I mean, what can you gain from it? Profits? For how long? Everything has an ending and it will eventually end one day.

Although it can be used for a learning instrument. There's a lot of free signal group that provides you with various signals or upcoming trade analysis. You can combine many data and compare them with each other to see which one has the most similarities with others and use that to verify your own analysis. That way you can gain some confidence on your analysis. But in the end that's not the best way to do it. Trial and error is the way to go. Use small amount to learn and when you master it you should move on to the bigger picture.

Once you do have the experience then you do really know on how to spot out those scams immediately comparing into the time or moment that you are really just that starting up on which you would really be that
not able to notice on which place or thing is scammy or not but on the time that you do have that right time or moment that you do have been engaging into this market then you are already getting used to it
then for sure it wont really be that so hard for you to be able to see if anything is really that indeed shady. Joining up signal groups could neither be beneficial for you or not since you could really be able to check
out whether those analysis would really be that something considerable for you to get and apply into yourself. You could really be able to differentiate on whats useful and whats shit.
Therefore experience would be always the key into this one.

To be honest, there are a lot of crypto signals that are infested with scammer groups. Many of them are victims of telegram channels. I was curious before and tried to join to find out what their styles were.

And that's what I saw: in the beginning, all the groups agree to believe the target person they will victimize, then when they see and get the trust, they will tell the sign that it is necessary to take out money, and in the beginning, they will feel they are true by showing the investment of the money entered and offering to invest again to earn more.

Even if you are already an expert and you still join a signal group, you will still come across them. But the only difference is you can now easily tell if who is telling the truth and who is lying. You shouldn't expect too much from a free signal because they are only free anyway.

Though there are some really good trials. They can either be a trap and scam you later on, or what you see is also what you will get once you already subscribe to their premium group. Those who ask for an account must be a different service. I already saw like that. It could be that their accounts were already limited and they are still legit to give you a commission but just be careful as many can use that to hack other's account.

accurate or not, if it's just sharing signals in my opinion it's not a scam either. Apart from that, it was also stated in this group that no analysis was 100% accurate. Even some of the signals shared may not be profitable.
paying or not, when a signal channel does not force or recommend investment in a particular project that looks suspicious, I don't think such a channel group can be called a scam.
I know there may be people who have to pay to join the signal group. but you have to join the group. and the manager is obliged to give a signal to the members. When both parties carry out their obligations and obtain their rights, that is normal.

I have some experience in between two when it comes on how analysis is been represent on which you do have some points about showing neither in detail or just simply putting up screenshots.
I could say that if you do join up some groups with having those kind of back up reasons or explanations on why they have done such position then it is really that good for you to learn up
but you could actually be able to make yourself get those kind of information or learning even with those free ones. I have been able to join a group which have that kind of detailed analysis
whenever they do post up their own takes and opinions towards the market on which you could really say that it is really that something worth to be followed.
You are the ones who would really be making such comment whether its really that something good or not.

Just like on what others been saying that it isnt really that necessary for you to pay up for something just for you to learn. There are currently free groups on which you could really be able to
join if you wanted to. Its not really that something risky as long you arent that getting involved with some pumps and dumps. You would directly be able to notice
it out once you do have that sufficient experience with it. For newbies then most likely you would really be that easily get hooked into this but once you do have that experience
then you could spot out it and make out decisions which you do seem that it would really be that something good for you.

There are a lot of cases like this. I even experienced before the proclaimed premium signal group/channel was just an impostor of another premium signal group.
It was really surprising because the fee to join to the group is extremely cheap but one day, there's some member found out that this impostor group was just copying on another really premium signal group.

There are several differences when joining a free signal group and also a paid signal group. If it's a free signal, most of them provide screenshots of their trading results, including ins, outs and other information, which aims to attract them to join their VIP group which of course is paid. This is not a small amount, because usually there is a fairly expensive fee to join the VIP group. The more people who join, the more profit they will make.
Usually they give several signals a day. And of course, nothing is 100% accurate.

I've joined both free and paid signal groups, there are some differences, maybe one group won't care about their memes. However, there are also other groups that really care about their memes. And in this case, they also said this, that there are no predictions and analyzes that are 100% accurate. So, you have to keep learning and making strategies to be ready for whatever market conditions. And usually, they will share various possibilities that might happen. So they also provide tactics when the market changes direction, when to use SL/CL, when to set hedging, and so on. And they also opened a consultation to learn several things. but of course, maybe one group will be different from another.

But what is certain is that it is true that we should not just focus on signals from the group for trading. because, no matter how good the signal is, if we ourselves don't understand and don't want to learn how to analyze the market ourselves and also evaluate some of the trading things that we have experienced so far, then it's useless. Because we cannot optimally use this signal. In fact, we will actually make the wrong move because we might be late in entering or just relying on the trading signal. So, indeed our insight and knowledge about trading, methods of analysis and evaluation, as well as the various strategies that we must have are very important.

I once encountered this situation when I was a beginner in trading. I used to follow a lot of telegram groups to follow signals, and some offered paid signals if they gave free signals that were cheap or of low quality, some just randomly gave signals without basis, and the worst was some asking for your account, saying that they would handle it and that they were the ones who would trade for me. At first glance, as a beginner, you will be struck by the eye-catching and ear-pleasing promises about how much you will get if you invest in them, but in reality, there are more scams than real ones. That's why I stopped following signals and honed my own skills and experience so that I would not rely on scams scattered around, so avoid telegram groups; there are more scams than legit providers there. Even if they give free signals, don't just follow them; analyse them first to see if they're valid.