Bitcoins

grund1g

I have been approached by the following company regarding Bitcoins.

"BitcoinTrader-FXTM" Is this a scam?

Aegis

Almost certainly, yes. Legitimate investment companies don't tend to approach potential clients at random, nor do they generally promote bitcoin-based investments.




Edited to add:


For fairness, due to clarification, it seems that this firm did not cold call. Nevertheless, if they are offering some sort of managed bitcoin product, I would still expect them to be a scammer on the balance of probability, whether deliberately or because they themselves have bought into the sales pitch of another scammer.

Type_45

Why assume it's a scam? Most people are nice.

eskbanker

Type_45 wrote: »

Why assume it's a scam? Most people are nice.

Most people don't cold-call potential marks advocating creative ways of separating them from their hard-earned money....

Aegis

Type_45 wrote: »

Why assume it's a scam? Most people are nice.

Because the vast majority of companies or people who approach others at random with "investment opportunities" are scammers. Most people in general are nice (or at least not actively out to get you), but most of those behind investment cold-calling of any description are not.

grund1g

Maybe I didn't explain approached right. I actually opened an account so I could look round and see what it was about and someone then contacted me from BitcoinTrader-FXTM. I was told to be careful and just check.

Riff_Raff

This is a savings and investments forum.

Aegis

grund1g wrote: »

Maybe I didn't explain approached right. I actually opened an account so I could look round and see what it was about and someone then contacted me from BitcoinTrader-FXTM. I was told to be careful and just check.

What are you trying to do and why? Are you a relatively inexperienced investor just looking for decent returns, for example? If so, stay well clear of FX (Foreign Exchange) in general, as it's renowned for handing our crushing losses to anyone unsure of what they are doing.

grund1g

Thanks Aegis and my Apologies if I didn't explain it right. I will shortly have some money to invest and a friend mentioned Bitcoins. I did a google search and came across the Bitcoin Trader FXTM site, I registered to have a look round and within a few minuets of registering really someone contacted me. I don't have any experience with stocks and shares at all and was told Bitcoin does everything for you.

Rheumatoid

grund1g wrote: »

Thanks Aegis and my Apologies if I didn't explain it right. I will shortly have some money to invest and a friend mentioned Bitcoins. I did a google search and came across the Bitcoin Trader FXTM site, I registered to have a look round and within a few minuets of registering really someone contacted me. I don't have any experience with stocks and shares at all and was told Bitcoin does everything for you.

Probably best if you hang around here for a bit and learn about investing and gambling and the different risks before you commit any of your cash to anything.

garth549

Stay a million miles away from something like this. It sounds like something that you deposit bitcoins in to and they 'automatically' make profitable trades for you. Except they don't. The trades look great but are fake to get you to 'invest' more. If you send them any bitcoin you won't get it back.

The only legitimate companies are established exchanges where you trade yourself.