Watch out for SCAMS!
I want to share a story that happened to me hoping it doesn't happen to you. A few months ago, I was new to the crypto world and new to trading in general. I was referred by a friend to a trading platform to trade my bitcoin for me. Boy was I naive. All was well for a little while and Then all of the sudden they changed their Payout schedule from .03 to .1 This should have been my first red flag. They played it off as the block chain was getting congested ( which it was at the time) so everyone in it was like EH ok. The next flag was when they locked accounts out, you had to pay a monthly admin fee to cover higher transactions fees.! I waited until the day before it was due before I paid it because my payout was going to be bigger than what the fees were and the next pay day was a day and a half away, so I figured they surely wouldn't close down in a day and a half folks that paid earlier in the week seemed to keep getting paid as normal.....So I paid the ransom .... Then they shut down trading!!!! Trading was shut down for almost a month then we get the following notice.
Date: 2017/06/16 (Singapore, GMT+8)
Hello Uncle Harley ,
As previously announced, we hereby inform you of the procedures that will be adopted from now on referring to the Trader Bonus:
Every user whose sum of total earnings is greater than the sum of the total invested, will no longer receive Binary Bonus and Trader Bonus;
For those whose total earnings sum is less than the sum of the total invested, ie they have not recovered their investment, they will continue to receive half the current value of the Trader Bonus daily until they reach the value of their investment.
GladiaCoin continues to operate normally with the Binary Bonus. The creation of new accounts for new investors will have a warning screen informing you that the Trader Bonus is paid through this new form presented until the recovery of your investment.
The adaptation of the system will take place until the end of next Monday (Singapore GMT + 8) and also on this date the trading operation will be restarted.
The Trader Bonus will be accumulated in the Back Office with operations Monday through Sunday, and paid once a week directly to the registered account every Monday.
We thank everyone for their trust.
Ok well getting my initial deposit back will be great. And for the last week deposits have been showing up in my back office like they were supposed to. Then BAM... More fees!
This is ridiculous!
I will not spend any more coin on these scams. I have since started doing my own trading and I will tell you this.
If there is only one thing I want you to take away from this it's
........................................Now pay attention........................................
IF ANY PLATFORM OR COMPANY PROMISES YOU ANY AMOUNT OF RETURN IN ANY AMOUNT OF DAYS....IT'S A SCAM
Even professional traders and bots, lose on some days so there is no way for anyone to guarantee anything!
Some other known scams are Ecoinplus, Jettcoin, and many of the cloud mining operations. and just like when doing trades
Do your own research!