Is it possible to destroy scam channels on Telegram? 

Today we will tell you the story of one cryptocurrency listing platform and about their main goal. At the beginning of 2018 one trader after huge losses because of scam channels realized that there was no platform that checked providers and made up-to-date and true audits. In March 2018 Andreas launched Safetrading – the first cryptocurrency platform, which checked and checks crypto signals providers and has a lot of thankful users.

In the beginning, it was very hard to know how to distinguish good providers like Altsignals among all the others. Among them, actually, 95% were scammers. That 95 % had 20,000 and more users, he was wondering – how?  The answer was and is very clear – cross-marketing – they advertised each other gaining more and more users.

And this was the first criterion they looked at while checking the channel. Among popular scam channels were Cryptonizers, BitcoinBravado, Cryptoland Elite, but Palm Beach VIP Signals, and Asian Whales were the most high-powered. Just imagine:

In 2017 Palm Beach received about 30 paid users every day. It is 900 users per month. The admin agitated everyone to buy a yearly subscription, which cost 0.25 BTC at that time. Let’s take the price of Bitcoin in November – $7800.

Are you ready?

If all the users bought a yearly subscription for 0.25 BTC, Palm Beach would earn:

$1,78 million. Per month. They attracted users with the help of brilliant results and huge profits. But in reality people got only unprofitable crypto calls, which led to huge capital losses. Scam schemes are like a virus – they spread all over the territory in no time.

They are one of the reasons cryptocurrency market fluctuations. During boom people invest a lot of money in coins relying on scam signals, after that they lose everything and stop trading. And here is where the market collapses.

And this situation we will see during the next boom if we don’t stop their scam activity. Even now, in May 2020, Safetrading receives more than 10 messages every day about scam channels, so we are able to tell them that they should change their vector of partnership!

But a lot of users don’t understand how dangerous it is to work with scammers and peck on low prices. Cryptocurrency is unregulated. It is good, really, it gives us freedom. But on the other hand, it creates a lot of scam channels, which are able to provide fake info to people and steal their money, because no one checks them before they start to give “services”.

They are like a great circle of problems. Next time they are going to come back with changed names, logos, and renewed schemes unless we don’t find a way to take them off the market. Safetrading is only the platform that provides review and audit for crypto providers, check every crypto trading bot, and even can help you to choose the best crypto wallet.

They check those services not with the help of their own opinion, but with the help of real figures. Every three months they check every signal they posted, so here everything is more than objective. Their biggest wish is to destroy all the scam channels. And on their website you can find a lot of articles on how to distinguish scam channels.

Let’s fight together!

About Author

Collin Brown

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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