Cryptocurrencies are the newest financial fad and no matter how much governments around the world try to regulate it, cryptocurrencies are here to stay! However, since most of the knowledge surrounding cryptocurrencies are up for interpretation, it is very easy for scammers to rope in individuals on a “get rich quick” scheme, through what looks like a legitimate investment opportunity.
Financial Fund Recovery helps you with reviewing your case, gathering the required evidence, confronting the entities and getting your money back.
With our cryptocurrency scam recovery services, you can not only receive your money back, but also become more aware and cautious about investing your hard-earned money into cryptocurrencies the right way.
WHAT ARE CRYPTOCURRENCIES?
Cryptocurrencies have swiftly established themselves as one of the most intriguing and volatile financial asset classes available. Bitcoin has had one of the best investment returns in history. When the first serious effects of the Great Recession were felt, Bitcoin was founded. Bitcoin was created as a store of value and a medium of exchange, a decentralised virtual currency with a really finite quantity to counteract central banks’ excessive money production. Because of blockchain technology and the distributed ledger, Bitcoin can be decentralised.
POPULAR CRYPTOCURRENCIES YOU SHOULD KNOW ABOUT
Bitcoin is the most popular digital currency by far, not only in terms of brand recognition but also in terms of institutional adoption in the financial sector. Bitcoin fluctuates between 55 and 65 percent of the total cryptocurrency market capitalisation on a regular basis. In December 2017, the CBOE (Chicago Board Options Exchange) and the CME (Chicago Mercantile Exchange) issued Bitcoin’s first Futures contract as an investment instrument. The US OCC (Office of the Comptroller of the Currency) granted all chartered banks in the US the right to provide custody services for cryptocurrencies in July 2020, which was perhaps the most significant event for Bitcoin as an investment vehicle.
Ethereum is a cryptocurrency and blockchain of the second generation. It is also the world’s second most valuable cryptocurrency. The most important ‘altcoin’ is Ethereum. Every cryptocurrency that isn’t Bitcoin is referred to as an altcoin. Whereas Bitcoin is a store of value, Ethereum is a decentralised network platform where smart contracts are used to build thousands of different cryptocurrency types. Ethereum’s market capitalization is around one-third that of Bitcoin. Ethereum is only the second cryptocurrency in the United States to have a CME futures contract, which was awarded in February 2021.
IS CRYPTOCURRENCY A SCAM?
TYPES OF CRYPTOCURRENCY SCAMS
BITCOIN MINING SCAMS
To complete very complicated algorithms to record transactions on the distributed ledger, mining necessitates a substantial amount of computer power. The miner is rewarded with Bitcoin when ‘blocks’ are mined and added to the ‘chain.’ Because mining necessitates time, energy, power, and infrastructure, many scams target those who want to ‘invest’ in mining operations as a way to generate passive income. Thankfully, with the advent of 3rd generation blockchains like Cardano that use a staking system rather than mining, this scam is becoming less common. Staking requires no massive power or infrastructure, and allows individuals to earn passive income much more easily than legacy mining processes.
PUMP AND DUMP SCAMS
Pump and dump scams are a type of scam that is almost ubiquitous in the bitcoin world. Pump and dump scams work similarly to stock market scams in that an individual or institution buys a big amount of an alt-coin and then spreads positive (false or true) news to urge as many people to buy as possible. Pump and dump operators’ principal communication channel is social media. Once the price has risen, the operators sell at the top, leaving the rest of us to bear the repercussions of quick price declines.
Look up OneCoin if you want to learn about a great example of a cryptocurrency pyramid scheme. Pyramid schemes in cryptocurrencies are the same as Ponzi schemes in any other market; the only difference is that fraudsters are now targeting you and making you believe you’ll become wealthy overnight because of the rise of cryptocurrencies.
HIGH INTEREST RETURN SCAMS
High yield interest rates are a developing trend in the cryptocurrency industry, particularly in the decentralised finance (DeFi) space. There are numerous genuine services that allow you to deposit or “stake” various cryptocurrencies in exchange for a high rate of interest. It’s fairly uncommon to see regulated and respectable projects pay up to ten percent interest on stablecoins (basically cash) and up to fifteen percent interest on Bitcoin and Ethereum deposits! However, any promise of a return more than 10% to 15% should be treated with extreme caution. Even respectable and regulated organisations require you to read the ‘fine print.’ To get the best return on your investment, some projects require you to leave your deposit for up to 90 days.
CRYPTOCURRENCY EXCHANGE SCAMS
There were few exchanges available when Bitcoin and other cryptocurrencies became tradable. As time passed, more and more exchanges took place. However, not all of these crypto exchanges were genuine. There were a lot of fronts that claimed to be a place to purchase and sell cryptocurrencies. The exchange’s owners would wait until a large number of individuals had invested and even started trading on their platform before essentially pulling the plug and taking your cryptocurrency money. Along with bitcoin exchange scams, certain cryptocurrency exchanges lack security. The most well-known example of this occurred in 2014, when Mt. Gox (which processed over 70% of all Bitcoin transactions) had 850,000 Bitcoins (worth millions of dollars) stolen. When it comes to phoney cryptocurrency exchanges, some of them use false volume to artificially exaggerate their trading volume and liquidity. While this type of conduct is still popular, there is a form of self-policing in the industry, with the website coinmarketcap.com categorising all cryptocurrency exchanges as having honest or dishonest stated volume.
HOW WE CAN HELP?
Don’t be discouraged if you’ve been a victim of cryptocurrency or bitcoin scams. Because of the large number of frauds and the amount of people who have been harmed in the crypto field over the last five years, regulators throughout the world have focused their attention on any suggestion of impropriety. And take heart in the fact that numerous people have successfully retrieved Bitcoin and other cryptocurrencies — nothing is truly anonymous. Financial Fund Recovery offers a comprehensive range of crypto recovery services, targeted at stolen cryptocurrency recovery. Payback, is a terrific beginning step.
We will assign someone to your case who will work with you during this difficult process and attempt to recover your funds in every way feasible. You can check through our testimonials and reviews to see for yourself that we have a proven track record in the business for cryptocurrency fraud recovery, that actually gets you your hard-earned money back.
PROCEDURES INVOLVED IN OUR CRYPTOCURRENCY SCAM RECOVERY SERVICES
DETECTION OF YOUR PROBLEM
We identify your specific kind of scam and our team of knowledgeable experts, well versed in cryptocurrency fraud recovery walk you through the what and how of the recovery process.
DEVELOPING A SOLUTION
Our blockchain and cybersecurity specialists devise a tailor-made solution to recover your money and give you a comprehensive overview of the same.
IMPLEMENTING THE SOLUTION
We apply the solution with your consent, and enable you to be a part of the entire process, as we recover your lost money, with guidelines and recommendations that can help you invest better in the future.
WHY CHOOSE US?
We, at Financial Fund Recovery, give you a detailed plan that covers our low-cost crypto scam recovery services as well as a variety of educational resources to help you invest your money into legitimate cryptocurrency platforms and services in the future.
You can trust us to –
- Cryptocurrency Recovery Services
- Consultations about Cryptocurrency Investments
- Quality Assessment of Future Cryptocurrency Projections
- Information about Volatile Assets
- Investment Risks
Cryptocurrency is absolutely brand new and fascinating, and comes with its fair share of risks. But that doesn’t mean you shouldn’t invest in it – or lose your hard-earned money to swindlers and scams. Take help from Financial Fund Recovery and make your cryptocurrency investments, a more secure deal. For all information related to cryptocurrency scam recovery services