Observing Cryptocurrencies from the Passenger Seat

Cryptocurrencies and blockchain technology have been hyped for a while now. Only the lazy would not speak up as to their predictions about the perspectives and possible development directions. I’ve been observing the state of affairs in the world of cryptocurrencies from the passenger seat for quite a while, but I decided to grab the wheel in late 2017 when the rate of Bitcoin increased at a rapid-fire pace. When I saw it hit the rate of $5,000, cryptocurrency trading seemed to have turned into a highway, and the temptation to join the race took over me.

As I have never performed any stock exchange transactions and had no other trading experience at all, I decided to search for a guide with a set of rules to follow. To my regret, the world of cryptocurrencies did not have any playbook that would guarantee success. Cryptocurrencies in general, and Bitcoin in particular, were aliens in the financial world, and the laws of physical money did not have any power over them. It was both intimidating and fascinating at the same time. Getting into cryptocurrency trading was as easy as driving a car. Following the rules no one ever told you, on the roads you’ve never been on, on a planet where the laws of gravity and common sense are just two out of a million options.

Taking Hold of the Wheel

Everyone spoke about cryptocurrencies and knew something about them, but there was nobody in my surrounding who knew all the rules to play by exactly (I wasn’t even sure if there were any at all). I did what I could in the circumstances I encountered - view all of the best materials I could find within the boundlessness of the Internet.In this way, I managed to analyze the market of cryptocurrencies in general, and form an idea about it quickly enough. If one decides to study every detail of this topic scrupulously, they will never see the sun again, because the amount of available information is overwhelming. It would take a couple of lifetimes to read and watch all there is written and filmed about this hyped topic, and then it would require several more lifetimes to separate the trustworthy information from the scams.

Learning from the mistakes of others is proven to be less painful than learning from your own. While discovering the world of cryptocurrencies, I leaned on the experience of traders who already had bumps and bruises from the past and were now enjoying their ride on the highway. I wrote this article to help you get things moving and avoid the obstacles that send most beginners off the road within the first couple miles from the start.

The first thing I did was stock up for the road. I purchased Dash, Monero, and OmiseGO (OMG) coins. At the beginning of the journey, my portfolio volume was gradually growing, but it seemed to be doing so very slowly - following the patterns of the whole market in general. Even though I doubled my investments in the following several months, I still wasn’t moving forward quickly and felt as if I was stuck in a traffic jam. That’s when I decided to search for bypass roads that would take me to my crypto success more quickly.

Toll Highway to a Crypto Labyrinth

Having found an article about top crypto traders, I learned about crypto signals that were offered by Telegram channels. I subscribed to several dozen popular channels and stopped looking through the rest, as their amount was overwhelming https://safetrading.today/traders/free/. I was very much so inspired by the "smartoptions" article on top traders on Telegram. I turned to the paid roads of Cryptoland Elite and PALM BEACH VIP channels and started rubbing my hands together, expecting to embrace all the wealth they promised. PALM BEACH VIP gave around five signals daily, and they were basically short or mid-term. As I learned a bit too late, there were shell fakes like ShitCoins there together with trustworthy currencies. The coins often reached the first, or even the second, target by the time the signals came in. As for Cryptoland Elite, it was less active and provided about three or four signals in roughly three days - all of them were midterm.

In just a short while, some of the coins reached the target while others subsided. A large break in the market happened in January 2018, and I discovered that all of my coins reached the stop-loss order. It was odd though that I continued to receive signals, even in the conditions of the unstable and declining market. I decided to trust these signals and purchase coins according to them. I was shocked when I realized that all of my purchases hit the stop-loss order several days after the signals. To make things even worse, all of the coin rates were falling, and the volume of my portfolio decreased respectively. By the end of January, I parted with 75% of my portfolio volume both in USD and in Bitcoin. It was a blind alley I could not drive through.

I realized that the road signs that led me to the tight corner I was in were nothing but a scam. The admins of the Telegram groups shared information only about the successful results of their signals and never told their subscribers anything about the losses they caused. There was no way to share the dissatisfaction in the channels either, because the admins quickly blocked, banned, and deleted the unhappy users. Moreover, many admins had clone groups, so if you wanted to warn users of another group about the scam, you might be banned and deleted again. I noticed that similar channels often advertised one another and I think they did so for two reasons. The first reason could be that the channels did not get enough money from the subscriptions and thus hoped to get more revenue from advertising. Another reason could be that the same people owned the channels that co-advertised one another, and this gave the admins an opportunity to continue fooling the clueless traders into continuing to lose their money. As the groups did not have any websites or pages outside of Telegram, it was impossible to share any negative feedback about them anywhere.

I decided that if I found a way to get out of the blind corner I got into because of scam, I should warn other beginner traders and help them avoid the disappointing experiences I encountered. I watched the scammers continue to bring in enormous amounts of revenue ( 0.03 BTC for a month subscription and 0.05 BTC for a lifetime one) doing practically nothing and draining the portfolios of the people who trusted them. It was very disappointing to watch these things happen and be unable to influence anything.

As I was sitting in the blind alley with my spent portfolio, there wasn’t much I could do. All I had was my enthusiasm, so I channeled it into exploring and analyzing the popular free Telegram channels I could find. After some time, I managed to make a list of criteria that helped me to pick trustworthy, successful traders - I even wrote another article about just this topic. The following list includes channels I picked based on my criteria. (Names of the channels are not full because this post is not sponsored by any of them).
Asian W...
Crypto-..
Indian Wh..

Asian is the channel I would like to tell you more about, as they had a strategy that differed significantly from the rest. The channel gave only one signal in five days as they preferred to wait and see if there were any fluctuations or uncertainties in the market.

I followed the channels from the list for a while before I was able to make sure that they were legitimately making money. I decided to give it one more try and purchased a lifetime subscription to Asian ... for 0.12 BTC. As my portfolio was already spent, I decided to share the cost of the subscription with my friends and coworkers. Honestly, my goal at this point was no longer to make a fortune; I just hoped to get back at least a part of the money I lost during my first sad trading journey. After the subscription was purchased, my friends and I received access to the analysis of the targets from the beginning of January. The results of the analysis we performed were extremely inspiring. Twenty-seven coins out of 42 (64%) showed positive dynamics two to three days after the signals, and the capital reached 10% in Bitcoin in total.

My faith in the cryptocurrency market trading returned to me, and I realized there are ways to earn money and cooperate with other traders while staying away from the scams at the same time. I decided to share my negative experience, as well as my successful journey, with you today to help you avoid the pitfalls I faced. It’s always better to learn from someone else’s mistakes when it comes to financial matters. I’ve also decided to launch a platform that will show the real results of signals as distributed by traders, called http://safetrading.today . Aside from that, users will have a chance to leave their feedback about the work of this or that trader, which will help improve the service performance in the first place, and will also remove a significant amount of scams from the market. Together, we can make trading safe and eliminate the scams!

If you have any information about other telegram providers that may be helpful to other traders — please let us know:
Safetrading website: https://safetrading.today
Our telegram page: https://t.me/safetradingsupport

SCAM:
More details and audit for scam channel Cryptoland Elite - https://safetrading.today/traders/cryptoland-elite/
More details and audit for scam channel Palm Beach VIP - https://safetrading.today/traders/palm-beach-vip-channel/