Bitcoin is no exception guys......
Please make sure you are looking out for these jokers that are trying to scam traders that are new to trading..
They are everywhere and if you think something sounds too good to be true, well, it is most likely too good to be true!
Since very few people know how bitcoin works, it is literally an endless opportunity for these scammers to come in take all of your money in the matter of seconds if you aren't protecting yourself.
What to look out for, who to trust?
Look out for Fake bitcoin wallets! These nasty malware downloads are out there and they are waiting to take your info! These are mostly through random links that you click or even fake bitcoin surveys!
Something else to look out for is flipping scams. Basically what these are is an offer to instantly exchange bitcoins for your money after paying some kind of fee to start. They usually promise to double or triple your investment overnight! Don't fall for it!
Lastly look out for pyramid schemes. These are hard to recognize but in the end they basically end up taking out your entire investment. Do a quick search as there are many articles about this if you want to learn more...
So what is the best way to protect yourself from these scammers? Well, like I said, if it is too good to be true then don't fall for it! Go with the most trusted bitcoins that have been around for a while now. Avoid click bait URLs that will promise ridiculous results. Research, research, research!!! Read up on what your are going to invest your hard earned cash in. Take time and go trough trusted material that has been published.
P.S. I gave you guys a trade idea here to take a look at. To me, it looks like there has been a nice triangle formation here on this lower H1 time frame. If you aren't looking to trade the Daily this may be helpful for you. Keep watching as when a market breaks a triangle it moves quick!
P.P.S. If you enjoyed this could you reply "thanks" in the comments!