How to Escape Bitcoin & Blockchain Scams and Fakes in Italy

May 29, 2019 at 08:28 // News
Coin Idol
On a daily basis, more than $5 trillion are exchanged in financial markets within Italy.

On a daily basis, more than $5 trillion are exchanged in financial markets within Italy. From a few years ago, fake platforms have been advertising themselves by persuading users that they will get quick gains, and in the process, they have fallen victims by losing their money to the fraudsters. Considering the widespread of these malevolent platforms, the victims and the crypto community at large have decided to organize relevant training on Bitcoin, cryptocurrencies and blockchain technology, aiming at preventing and reducing scams polluting the industry.

Cryptocurrency trading attracts a lot of users and the freedom to earn money from home by rounding up salary or creating real employment. Almost on a daily basis, various scammers send email, phone calls or commercials ads on social media where they see sure gains. Do not trust foreign brokers not registered in Italy is you don’t want to fall into a scam, make sure you check whether the brokers are authorized by Consob and please don't be fooled by the bonus input.

Be Aware of Thieves   

Real criminals convince users, often by citing sources, reviews or falsified analyses, not to look at the initial leaks because it is part of the system. Firstly, they make you lose the first investment, then reassure you and actually in a few days also comes with a profit margin and here begins the scam. These brokers you earn or lose don't care, they earn on your commissions. The more operations you make on the platform, it’s the more they earn. They basically spend the time finding users to be plucked. When you see such cases, try not to respond to these particular brokers, close the account and report them to the authorities immediately.   

The Italian crypto community should understand that in the field of cryptocurrency, there are no “brokers” but “exchanges.” They can be located in Italy or overseas, for instance, in countries with pro-cryptocurrencies legislation including Malta, Hong-Kong. Estonia, Great Britain, Gibraltar, South Korea, and others. 

Before investing in cryptocurrency let’s Bitcoin, the citizens are advised to first learn the following: the notions and characteristics of Bitcoin; What it is, how it works, and how to open your own wallet and deposit money on it. Users should use the right way to start earning without falling into the hands of real speculators. As you can remember, Italy lost over 600 euros in Bitcoin from scam and sextortion victims. The country also lost more than 10 billion euros in crypto through cybercrime due to weak regulatory framework.

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