BinaryScamAlerts.Com is a reviews website focused on exposing crypto CFD scams which are in essence websites that are designed to attract opportunity seekers or would-be traders who are searching the internet for an easy and legit way to generate income trading cryptocurrencies online. BSA was launched during 2015 when Binary Options scams and various get-rich-quick schemes were very popular with scammers. As regulation started to kick in our staff of researchers began shifting focus towards various Bitcoin and Cryptocurrency scams such as Bitcoin Code, Bitcoin Revolution, and Bitcoin Loophole. It didn’t take long before our reviews started to catch on and our crypto scam alerts are now considered to be some of the most informative and detailed reviews in the Forex and cryptocurrency trading niche. Exposing and blacklisting scam cryptocurrency trading robots, as well as fraudulent bitcoin and signals is something our staff takes great pride in. Our researchers have saved countless viewers from getting ripped off by conniving scam artists who will do anything to convince you that their system is the best in the industry and that your wins are guaranteed!
What Are Bitcoin and Crypto Robots?
Bitcoin Robots can generally be divided into two categories. The first belong to a category of systems which automatically trade (buy or sell crypto contracts) via exchanges such as Binance, Bitfinex, or Kraken. The other types of systems are integrated with Forex or CFD brokers, and they trade CFD’s (contracts for difference). The advantages of trading contracts for difference has to to with the fact that as opposed to stocks for example, you don’t have to own the actual option. In CFD’s you simply buy a position (purchase a CFD contract) on the change in value of the underlying asset over time. Your profit (or loss) is based on the margins which are reflected when the contracts expire.
If you are an amateur or inexperienced Forex trader, you would need to partner with a professional who will assist you. Alternatively, you can select a profitable trading app in the form of signals or automated trading system (crypto robot). In fact, that is what do what most of our members choose to do. Crypto or Bitcoin robots are automated trading systems which operate independently and without any need for human intervention. The advantage of using such an app is obvious, and this is particularly true since most of the trading in the world is done via automated trading terminals which operate according to various algorithmic protocols (AKA algo trading). Some members prefer manual signals, since it provides them with more control over the trades and allows them to be more engaged.
Bitcoin and Cryptocurrency Regulation
According to the Cryptocurrency Act of 2020 the European Union will implement a new law known as the EU Fifth Anti-Money Laundering Directive AKA 5AMLD. According to this directive all cryptocurrency platforms and wallet providers must have their customers undergo an identity check for reasons related to anti-money laundering. This directive is becoming the new industry norm in all forms of online trading, so it’s very possible that in order to activate your trading account you will be required to validate your details via phone.
Forex and Crypto Trading Strategies
If you are looking for a sound strategy and are unfamiliar with terms like technical trading, indicators, Fibonacci, candlesticks, or momentum trading, then maybe it’s time for a bit of education. We have been trading Forex and Crypto for about 5 years now and understand this business very well. If you are looking for help from real traders simply reach out and message us, or just refer to our recommended section and start using the software we use ourselves on a daily basis to generate profits.
Ponzi Schemes, HYIPs, Fake ICOs, and Faucets
Bitcoin is definitely the currency of the future and has gathered an impressive crowd of enthusiasts around the globe. However, it has also been associated with notorious scams such as the Bitconnect Ponzi Scheme. A HYIP, or high yield investment program is also a type of Ponzi or Pyramid scheme which generates profits based on new client investments which get compounded and artificially inflated until there is just no money left to pay members. Fake ICOs or initial coin offerings pretend to be legitimate businesses and try to solicit new investors by promising them impressive returns. Once the money is received there is no way to get it back and the site is shut down. A bitcoin faucet is a type of reward mechanism which promises you rewards in the form of a Satoshi, which is a hundredth of a millionth Bitcoin. But sometimes those promises aren’t kept and people do work for nothing.
Do your Research!
Most new Forex retail traders lose their initial investment because they fail to do their research. Reading reviews and getting constantly updated is mandatory if you want to become a successful trader. We can’t over-stress this!