The trading of goods and products, real or virtual, as well as virtual currencies involves significant risk. Prices can and do fluctuate on any given day. Such price fluctuations may increase or decrease the value of your assets at any given moment. Any currency - virtual or not - may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market.
Cryptocurrency trading also has special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, cryptocurrencies are unique type of "fiat" currency, backed by technology and trust. There is no central bank that can issue more currency or take corrective measures to protect the value of cryptocurrencies in a crisis.
Instead, cryptocurrencies are an as-yet autonomous and largely unregulated global system of currency firms and individuals. Traders put their trust in a digital, decentralised and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.
The trading of cryptocurrencies is often susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in cryptocurrencies because of unexpected changes imposed by software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling.
You must be buying bitcoin / cryptocurrency for yourself.
You are being scammed if you have been asked to purchase bitcoin / cryptocurrency for:
• Online acquaintance (scammers may use hacked or cloned Facebook, Twitter, LinkedIn, Instagram, WhatsApp or email accounts to contact you to purchase cryptocurrency)
• Employment opportunity or online investment (e.g. through a social media such as Instagram and Facebook)
• Someone via bank transfer / PayPal (The scammer will route stolen funds through your accounts, leaving you guilty of theft and fraud.)
• Binary option or forex trading websites that only accept cryptocurrency as payment method and guarantee high return on investment / quick money in a short amount of time.
o Advice: Do your due diligence / research before sending or paying cryptocurrency keeping in mind that transactions are irreversible. If you are not sure about any website, feel free to ask us. We are here to help.
• Someone that is remotely controlling your computer by using software such as TeamViewer
o Advice: Never let anyone remotely control your Computer, Phone or Bank Accounts by using software such as TeamViewer which is often used to 'assist' the victims in buying bitcoins. They are using your identity, accounts and ip address to commit theft and fraud. If you think this applies to you, please contact us
You are liable if you claim there are no third parties involved and still buy bitcoins at someone else's request
You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading cryptocurrency.
We use our banking providers in order to receive client funds and make payments. Our banking providers DO NOT transfer, exchange, or provide any services in connection with Cryptocurrencies.