On cryptocurrency exchange, billions of dollars are traded every single day. You may be conscious of the exponential rise of Bitcoin and similar other cryptocurrencies in the unregulated market. Brokers tempt the public to invest and earn exceptional returns in a short period.
Unless and until you are a professional trader it is impossible to be a winner in long term. To top it, a huge majority of these brokers manipulate prices so that you lose money easily and the brokers ask you to deposit new (added) funds.
Many scammers see this as an opening to scam people with attractive offers. On their site, they will display a fake license/registration number and pretend to be the original one. As soon you make your first deposit they will stop interacting with you. To be sure that no one runs off with your hard-earned money see to it that you are dealing only with a registered legitimate authorized broker and not a scam.
Out of many reasons one of the key reasons is that investor/individual lacks knowledge and lacks experience. Investors see advertisements of those only those investors who got guaranteed profit, success, and great results, and they buy that story.
How do investors become victims of cryptocurrency brokers?
The other reason may be like any other gambling game they have become lucky and earned good profits in their first attempt. The second times they try are with more funds. This goes on for a long time and after a long streak, the investor loses all his funds.
How to avoid crypto scams?
The first and most important thing is not to deal with any unregulated broker. Once you are sure you got a regulated broker and you are new to the cryptocurrency arena, invest only that much amount of money that you can afford to lose without any regret. Don’t allow the broker to trade on your behalf.
Doing your research about the broker is the key to investing. You should know your expectations and can roughly calculate them.
Have you been scammed?
You may have previously been prey to a cryptocurrency scam. Those who have been the victim of a scam do not go public, as they feel guilty and are ashamed to let other people know. They feel people will laugh and make fun of the victim.
You should not ignore the incident and go along with your life. It is not easy to ignore the incident overnight. The scam will affect you physically, emotionally, and mentally for a long time. The positive news is that with the technology that we have today you can easily get assistance recovering your fund.
Will police or bank will be helpful?
The first thing to do is to file a complaint with the local police. So that police also get aware of these types of crime and will try to find out the source of the crime. But there is hardly any chance you will get your money back. It is possible that the police can catch hold of the scammer but it will be almost impossible to recover your funds.
Banks also will not be able to help you much.
Get the right assistance to recover your funds.
The good news is that you can get your funds back from a cryptocurrency scam. You should know where to get the right assistance from. Disputes arising out of transactions are tough to handle. It requires sound technical knowledge. You may need the help of a person expert in this field and maybe lawyers too.
At this point, our well-founded firm comes into the picture. We have experience handling such types of cases.
Reversal of the transaction.
When you paid money to a scammer it might be through your credit/debit card, direct bank deposit, or wire transfer. You can get your money back if you know how the financial laws and regulations of that country work. We build a strong case against scammers, plugging in all loopholes.
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