http://spectretrading.com The fall of binary options coincided with the rise of bitcoin and other cryptos. While we may never fully know what the key cause behind the rise of bitcoin was in late 2017, it is undeniable that the binary options scam industry pivoted its boiler room operations on a mass scale to be pushing cryptosecurities at the same time. The question is, how effective could these boiler room salesmen really be? Unfortunately, we know how effective these guys can be by what they did with binary options industry in the space of 5 years. And remember, binary options were a relatively unknown entity that quickly turned into a multibillion dollar a year industry. Companies like Wealth Recovery International have seen a spike in consumer claims for online trading fraud. What used to be Binary Options victims is steadily getting replaced with people who have been defrauded on cryptotrading platforms.
It’s almost as if the criminals behind the binary options fraud created the crypto hysteria as the ideal tool to perpetuate their scam. Many of the scam operators require you to first convert your fiat currency (USD, GBP, EUR, etc.) into a cryptocurrency and then deposit said crypto. What this does in effect is create an additional layer of security…not for you, for the people who are stealing your money! It’s a scammers dream; there must be a change to this dynamic.
The biggest fear to any online merchant is chargebacks. This is when a customer calls up his credit card provider (Mastercard, Visa) and refutes the charge on his statement. The fear and use of chargebacks is the sole reason for credit card charges. The couple percent you pay per transaction is a cost that has been worked out there are ways to protect yourself from rogue crypto traders and even one trading platform that is trying to revolutionize the entire industry by eliminating the broker and replacing them with the blockchain:
Protect Yourself from Rogue CryptoTraders
Unfortunately, the excitement surrounding these innovations are is so vast that the inevitable has happened; the rogue scammers have barged in through the front door (with a white paper of their very own) with promises of huge returns, low risk and…. the binary options boiler rooms have reincarnated in the form of crypto trading “experts”. Last year the guy with a fake name was an expert in the stock market, now they have pivoted their expertise to swallow up a whole new industry.
The is no reputable independent agency that you can follow through to ensure that the website you are dealing with online is legitimate. However, there are many red flags that, if spotted, we advise to avoid at all costs. It cannot be underestimated the number of online scam artists that have been attracted to bitcoin and other cryptotrading platforms. The only crypto trading company we are aware of that is even trying to address this problem is http://spectretrading.com ; the world first broker-less financial trading platform. By putting the entire trading platform on the decentralized blockchain protocol, their aim is to eliminate even the possibility for broker fraud.SPECTRE, short for speculative tokenised trading exchange, is a dramatically different approach to the classic, fraud-ridden financial trading model where brokers regularly tamper with platforms, engaging in unethical behavior with financial traders and clients. Examples of this behavior include tampering with price feeds, freezing withdrawals and trading on the client’s behalf without permission. Instances of fraud are rife across the binary options and FX industry with regulators across the globe struggling to contain the problem. SPECTRE, built ground up on the Ethereum blockchain, removes the financial broker out of the equation and through the creation of novel, private escrow smart contracts along with a decentralized, autonomous liquidity pool, removes the need for deposits as well. This means that traders around the globe can engage with the financial markets, be it binary/digital options or trading FX and other asset classes, without human intervention.
Spectre Trading is the world's first broker-less financial trading platform that allows traders to trade directly against the financial markets without the presence of an intermediary broker. By utilizing cutting-edge Ethereum blockchain technology. SPECTRE, which is built on the Ethereum blockchain, removes the broker out of the picture entirely, thereby disrupting the current model and empowering the trader. SPECTRE’s aim is to disrupt the digital options and classic retail FX/equities trading industries and lead a paradigm shift. This is certainly a step in the right direction.
The ways to protect yourself from cryptosecurity companies, websites and platforms is to be more careful with your investment than you would with an offline trading company.