How do you spot a binary options scam?
Every day, emails and cold calls
It's a scam if you open your email and find that someone emails you every day saying that he just made a lot of money from binary options and wants to tell you about it. It is a scam if someone claims to be from the Australian Duty Office and threatens you with legal action unless you immediately send them some bitcoin.
Keep an eye out for attempts to steal your money. Do not send money or engage in binary options trading unless you know who you're sending it to. And don't try to trade binary options anywhere without first double-checking the facts.
Downloads of malware
The Internet era introduced a slew of viruses, adware, spyware, and other nefarious characters into the world. Unfortunately, due to the value, anonymity, and overall digital nature of cryptocurrency, scammers can now earn money much more easily through dangerous downloads.
Always avoid clicking on unknown email parts or potentially dangerous links. You should also be cautious of bitcoin being used as bait. For example, a social media post claiming that you can mine bitcoin simply by downloading a program or a web link to an expected bitcoin exchange that offers freebies to get started on should be treated with skepticism.
There are numerous safe, genuine, and secure cryptocurrency exchanges, but you're unlikely to find them by following strange links.
Other Frauds
Binary option clubs are frequently marketed as investment and membership networks. They promise high returns, cash flows, or some form of payoff, but there is a catch. To deliver money anywhere, you must first stop something valuable, such as a membership fee or regular ongoing payments into an account or to an agent.
Outright scams tend to market heavily on their own and conceal their true intentions behind proven marketing gimmicks. Their brokers and marketing entry are well-known for their high potential."""
