Does Cryptocurrency Trading Have Risks?

Andreas Schmidt
June 4, 2020

Cryptocurrency trading is very popular among traders and, as the experience says, it is profitable. 


Of course, not for everyone because according to the statistics of one software development company, around 70% of newcomers lose the money while trading crypto.


But don’t be afraid! Actually, it is not because it is very hard to earn on crypto, it is because people don’t know how to do it wisely and don’t know the red flags that are waiting. 


First, let’s start by dividing crypto traders into those who trade analyzing the crypto market and those who trade with the help of crypto signals. 


In this article, I would like to speak about the red flags that are waiting for traders who use crypto signals. 


At first, you need to know that almost all of the crypto channels are scammers – only 5% – 10% of them are legit and provide really profitable calls. 


And this is one huge red flag – scammers. And don’t be afraid – you only need to learn what to do to distinguish the good channel among all the existing. 


You need to start with the free channel. Check all the past activity of the channel, free crypto signals (if you are lucky to find them, check if they brought the profit and then compare your results to the results of the trader), advertising (I hope you will not find it), etc.


If everything seems legit, you can start to communicate with the admin. Pay attention to his way of communication, level of English. I don’t want to say that it is very important – people are people, we are different. And if the trader starts the communication with offering to buy the subscription here and now and send the cryptocurrency wallet address, this channel is not the best choice. 

If even your communication went well, I can say you succeeded to find a good channel. It is very important to find such a channel that will not only post signals but will consult you on every important question. 


I hope you will find such a one and will not lose money because of scammers!

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