Hi steemia, I will like to keep today awareness to be brief because majority of us are full aware of crypto trading so am going to brief about.
Because of the up and down in the price of bit coin some investor try to diversify their investment while some still stuck to their investment. Diversification is good for a business person as a way of spread the risk.
Crypto trading is not well known in Nigeria but I got introduced by a friend two years ago and about two months after' I got scam and that reduced my interest as regard the crypto trading. Until last year December I sold the last unit in my block chain account. Starting this year afresh with the awareness of risk exposure and the analysis of trend of BTC. Earlier this year I got the know that one can buy new coin prior to their launch to the market in ICO DROPS.COM, I decided to run a check on it and I realised that one could use BCT in exchange for new coin that is about to be lunch or pay in cash as part of the payment method. Upon the check on ICO I saw some new coin that about to be launch in some days, weeks, month or year those who are familiar with the site could testify to that. I decided to select in one of those company and I was ask to joined a group on telegram where a lot of investor are been added to ask questions and and answers are provide by the admin in charge. So many questions were asked and the admin was knowledgeable enough to provide answers to how much you can invest in BTC , ETH and some other coin and the expected return on investment. Expected return depend on that unit of BTC that an investors is willing and able to offer.
After so many engagement with the admin then another admin came in between to ask how many BTC you wanted to invest and tell you immediately to send it to a block chain Addressed and after which your name would be process. Once you transfer to the address and you update the admin that you have the the transfer the BTC then the following respond will be' am on it' and the admin can sometimes disappeared or stop chatting you for a while or forever and that will be the end of that transaction.
Upon investigation, the intruding admin is a clone admin(fake) who usually engaged one in a private chat and further introduce you to another scam partner ( admin) to finished their dubious work.
Note that' the admin could be one or two people chattinh you simultaneously depending on their ability to convince you to make the payment. Once you make the payment or transfer BTC then forget it. Am aware that a lot of investor fall for the cheap scam because of the high expected return of about 45%, 50%, and 70% on their initial investment. Imagine some trader lost about 150 BTC, some 30 BTC and some 20 depending on the investor liquidity.
Money lost on a plater of gold can be over look but life saving money lost to some cheap whole can never be over look as might lead to some people bankrupt, death or suicide.
Please be guided, don't fall victim of this, don't let high rate of returns dig your grave and cause you your life saving.
Rule for Buying and selling Or for new Investment.
- don't buy from unregistered site
- if at all you must buy, don't welcome any private chat
- if you must buy, buy directly from the site
- if you must buy, you can try to verify the authenticity of the site from any crypto expert.
All consider the return to be reasonably normal, if not you are exposing your self to uncalculated risk.
Investment diversification is a way of spread risk which are calculated and some bearable in nature. One need to be careful and diversified into business you are aware of or perhaps make finding.I love cryptocurrency.
Please if you are fortunate to have come across aforementioned scenerio endeavour to share your experience as people could benefit from you.
Thank you for reading and I will be willing to attend your questions.