My heart goes for those people who were victims of scams and the worst scenario I have ever seen and have experienced so far was the suicidal effect when you lost your money because of those heartless individuals who are only after making a profit without any considerations of whom they will take advantage.
Our online exposure is very prone to these kinds of people so I believe we need to review some of the reasons why people still are falling for these scammers, instead, I will share why they ( the willing victims) fall for them (the heartless scammers).
Based on my previous experience, as I was once a victim of Freedom Traders Club in the Philippines wherein it was so silly of me to have believed a guaranteed return of 30% a month? hmmm kinda fishy but still I took the risk so I invested my money hoping that it would grow ( well just to entice more, I was given half of that 30% return) not knowing it was the FIRST and the LAST pay out so they said.
What made me fall for that scam?
I was not EDUCATED enough about crypto at that time.
I was so engrossed with stocks, that I disregard the notion of it being scammed knowing that when it comes to investment per se,
THERE IS NO SUCH THING AS GUARANTEED RETURNS,
therefore if someone would invite you for any opportunities that deal with investment, it is a RED FLAG already, once "guaranteed return" is mentioned specially so that the nature of crypto is too VOLATILE.
That kind of assurance you will receive this and that amount blah blah is a huge scam, so beware.
Other big-time scammers that thrive in my country a year back were the Kappa and the Rigen, scampanies. Mind you an investment of 5000php as has 30% guaranteed returns and the more you have invites, the higher the commission. All these two companies were already given cease and desist orders from Securities and Exchange Commission and these were the reasons as to why my friends who invested in them, hated me for telling them straight to their faces that they will be sorry in the end thus they better withdraw the soonest possible time.
I was told I intervene so much, needless to say, it is THEIR MONEY which they invested and not mine, sure enough, not mine, but the point here is not about their money either but it's about tarnishing the reputation of the whole crypto community. By the way, these two scampanies were enticing that they're trading both bitcoins and forex and I asked one of my friends who invested whether she knew what is bitcoin? all she replied was, "All I need is my return of 30% monthly by investing to them, thus no need to know about bitcoin or forex!"
How could they not know that bitcoin could be traded straight to an exchange like Binance, and even $50 would be a good start? Why the need to put 10,000php for the trading fee? greediness of the 30% accompanied with ignorance about how trading works could bring one into a huge scam.
So lesson learned?
DO YOUR OWN RESEARCH and DUE DILIGENCE always.
Study guys don't simply fall for any scam, technically instead of gaining you would end up losing.
Image of Money:
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Lead Image:
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Euro Bill Image:
Photo by Markus Spiske on Unsplash
Getting scammed is an awful experience and I urge all the people who are thinking of doing it to someone to think of the ramifications it could have on a person's life: it might be their last money, it might be the final straw that makes them take extreme measures regarding their life or others' lives. I don't think that any sane person would want that in their conscience.