Value appreciation of Bitcoin is one of the main reasons why the count of investors looking for a new crypto asset to invest in is going up these days. Those who are taking steps in this direction wisely are making the choice the right way.
Those who are investing in BTC or any cryptocurrency blindly are falling in hot waters. it is so because of multiple reasons. Falling in the trap of unregulated brokers is one of the key reasons.
What Do You Mean By Unregulated Brokers?
It is one of the most common type of scam in this domain of finance. Those who are looking for new crypto assets to invest in fall victim to this kind of crypto scam easily.
In simple words, you should always be careful while or before investing in this domain of finance. You will need to take very good care of your crypto investment portfolio.
- Dozens of unregulated brokers (swindlers) or exchanges are always in the market. These swindlers always look for those who are always ready to be careless with their cryptocurrency portfolio.
- Unregulated brokers make every possible effort and put their best foot forward to lure innocent cryptocurrency investors using one of the following as an essential part of their strategy:
- Low prices
- Competitive trading products.
- Speedy returns.
Once you fall in their trap and make the deposit, money withdrawal will no longer be a cakewalk for you. you may be asked to pay them huge amount of commissions. More importantly, unregulated brokers or exchanges will conjure up fake reasons to fool you about why you are not able to your funds or gains.
In case you are short of luck or your luck is no longer by your side, the unregulated broker you have trusted will run away with your money.
This is something you must know about before or while looking for a new crypto asset to invest in.