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Blog, Cryptocurrency

Crypto Group: Beware of Scams

Posted: May 18, 2020 at 8:08 am   /   by   /   comments (0)

The world is evolving fast in terms of science and technology. Our ways of living life and doing business, have all changed drastically. Old fashioned methods, with which we were used to, have been discarded and new trends have been introduced. The same goes with doing business which has changed with the induction of cryptocurrency in the financial market. 

For some the idea of cryptocurrency was too hard to consume that they thought it would never be able to make the mark in the financial industry. But to everyone’s surprise, when a few dozen of lucky people overnight earned billions of dollars’ worth of profits in 2017 by investing in Bitcoin, cryptocurrency came into limelight. Soon investment in cryptocurrency caught the attention of a large number of investors and media. 

Analysts suggest that in the very near future the cryptocurrency industry will see finances pouring in through institutional money. It is expected that in the coming five years the overall cryptocurrency capitalization in the financial industry will explode. But there are still those who do not agree with this prediction and argue that the use of cryptocurrency is limited to certain transactions therefore the cryptocurrency is prone to a bubble-like collapse. 

Investing in cryptocurrencies

One cannot ignore the fact that the future of cryptocurrency is bright as sunshine. Today Bitcoin, Litecoin and Ethereum are few of the hottest commodities amongst the online trading world. The element of greed for earning big fortunes and quick riches often make people overlook the risk factors attached with the investment in cryptocurrency. They are so driven away with the desire of making huge profits that they end up being scammed. Because the cryptocurrency is not regulated by central authority, it caught the attention of a lot of scammers and fraudsters in the field. The most common type of scam in this industry is ‘pump and dump’. 

Although pump and dump are considered illegal schemes in regulated financial markets, however, in the cryptocurrency industry they are not illegal therefore a majority of people have become victims of this illegal activity. But the subject of this review is not about pump and dump schemes, it is about a more deceitful and more evil design of defrauding people called crypto group. This review is for helping those who want to invest in cryptocurrency but fear that they might encounter a scam and at the same time the review will also help them to avoid becoming a victim of any fraud or scam.

What is crypto group? Is it legit?

It is likely that most of us know what crypto group is but let us very briefly discuss what it is about for the sake of beginners. Crypto group is computer generated software established with the so-called purpose of helping people in trading cryptocurrency by providing them perfect solutions. This is a crypto trading bot which claims to guarantee making of huge profits to its user. 

The trial version of the software can be downloaded on any computer without spending any money and at the end of trial period, it requires you to purchase the software. Once you are on it, you will be notified by emails and messages regarding fresh cryptocurrency trading opportunities and latest trends. This gives rise to the question whether crypto group is legit? The answer is straight forward and simple – No.

The people working behind the crypto group know it very well that people want to earn profits and become billionaire overnight which is apparent because there are already so many people who have been making money from the cryptocurrency market. They make you believe that they are actually helping you understand the benefits of using auto trading robots. They have been successful in setting up the trap for people to take bait by telling them that they have themselves used auto trading robots which have earned a lot of money for them. 

Some of tactics and promises being used to lure people into scams are that they say the software is the best in the field at which success rating of the transactions is more than 90%, they assure cash returns if the user is unsatisfied, the software is easy to use and anyone can start making money anytime from anywhere, but nothing could be further from the truth. All these promises may look clumsy and phony to an open minded person. However, they do not stop at their either. As part of their ulterior motives and nefarious designs, they have learnt another very useful trick of scamming people. 

They have hired people for writing paid reviews denying the rumors of them being a fraud. One can easily google and find out dozens and dozens of reviews which guarantee their authenticity. But in actual fact there is nothing but true which is that they are fraud and real time scammers. One should always remember the phrase that “Nothing is given without something been taken away”. If you are smart enough, you will be able to judge that you are encountering a scam but not everyone is so lucky. 

Great losses being caused

Without the odds, even though, still the crypto market is flourishing and getting attention of hundreds of traders and investors joining the industry, but it is not a hidden fact that over the years millions of cryptocurrency investors have been victims of scams which resulted in the loss of huge sums of money. For example, in the year 2018 the losses caused due to scams and frauds in cryptocurrency were recorded to be more than US$ 1.7 billion. 

If you don’t want to be a victim of these scammers, you must follow the following very simple rules: –

Be open minded 

If you are in the business of cryptocurrency or you want to be a part of cryptocurrency market, you cannot afford to ignore the fact that like every other industry, cryptocurrency also has imposters who have devised software bots for sending promising money making offers and opportunities to people which should be avoided and ignored at all costs otherwise there is a possibility that you will lose your valuable asset or investment at the hands of these scammers who are out there making their living at the expense of others. 

Stop guessing

When it is your money on line and your investment is at stake then there is no room for guessing. There are many online web pages available like Reddit and Quora etc. Both these websites are most popular amongst the cryptocurrency community when it comes to find out about the authenticity of any specific cryptocurrency and/or obtaining information regarding the scammers. The websites have been successfully provide information and updates of anything related to cryptocurrency industry. 

Make a habit of reading Crypto blogs

Another very important way of avoiding fraud and scam is to read lots and lots of crypto blogs. One should make it a priority of reading posts, journals, editorials, interviews etc. available at these blogs which works in both ways – help you learn in a greater detail about the cryptocurrencies as well as let you know the scammers. To begin with my personal recommended blog is NeuerCapitalReview. Neuer Capital is a cryptocurrency brokerage firm which has been successfully able to help their customers in earning profits and learning pros and cons of cryptocurrency trading system. 

They main area of service providing includes dealing in all major types of cryptocurrencies. NeuerCapitalReview is a blog which focusses on providing a guide to its readers regarding which cryptocurrency is most viable these days for investment and which cryptocurrencies are more favorable for long term investment purposes.

Clarity of vision

After discussing all the above, there is no doubt that Crypto Group is a major scam indulged in an activity of scamming and defrauding people money by forcing them to bear loss while on the other hand filling their pockets. The picture is crystal clear that with their help you are not going to earn anything out of your investment and time. Beware and stay away from it. If you have zero knowledge about the cryptocurrency then do not invest in cryptocurrency industry. 

But if you think you are familiar with the concept and have even a slightest idea how the trading works in crypto industry, start on with a free demo account with any authentic and regulated crypto broker. In this way you will be able to ensure safe keeping of your investment and, at the same time, you will learn the trading process without spending a penny. Once you feel that you are ready only and only then you should make up your mind to invest in the crypto industry.

Last but not the least

At the end of the day it is your money and only you will decide what is best for you. If you decide to invest it in crypto currency industry then your decision should be logic based and above all well thought of otherwise this is a business venture which can give you profits as well as expose you risk and huge loss.

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