Btc trade text message
Complaints against BTC Trade UA. The exchange BTC Trade UA may be defined as a simple and convenient trading platform offering users cryptocurrency pairs with Ukrainian hryvnia. Since day one the platform managed to prove the status of reliable service and demonstrates the daily stable trade value, even not too high, and yet, over dollars. Feb 11, · Top 7 Bitcoin Scams. There have been (and undoubtedly will be) nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. BTC USD (Bitcoin / US Dollar) This is the most popular Bitcoin pair in the world. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of Bitcoins is carried out collectively by the network.
Btc trade text message10 common Bitcoin scams (and how to avoid them) | aicrypto4.de
Then you get the link on your e-mail, which you need to follow for completing the registration. Also the system generates the pin code which you will use for confirmation of your transactions on the exchange. After deposit in cryptocurrency or Ukrainian hryvnia you are offered to start trading. In this section there are also panels with transactions history for the last 24 hours, open for the current deal moment, statistic about traders which are online, online-chat and Twitter.
Since day one the exchange BTC Trade UA demonstrates the upward trend in trade value — this figure is over dollars daily. The service developers canalize their energies on extending the list of resource services and creation of comfortable conditions for traders: there is the mobile application for Android and iOS available, an affiliate program designed, which allows to earn up to 30 hryvnia for one customer attracted.
All this makes the platform one of the leading ones. Please note that the developers of BTC Trade UA designed not just the exchange, but crossplatform services for cryptocurrency transactions.
The design intend of this product are used on other similar resources. Ukrainian hryvnia UAH is the fiat currency used in pair with tokens. There is no need for verification, so you may deposit right after the registration of personal account. After you declare the sum and the system generates automatically the address of a crypto wallet it works just for 2 hours , where your payment will be credited.
Then you need just to confirm the payment. A point to keep in mind is that the platform blocks withdrawal of both fiat currency and tokens for 1,5 days automatically. The exchange BTC Trade UA may be defined as a simple and convenient trading platform offering users cryptocurrency pairs with Ukrainian hryvnia. Since day one the platform managed to prove the status of reliable service and demonstrates the daily stable trade value, even not too high, and yet, over dollars.
The company representatives put efforts to promote the cryptocurrency in Ukraine and give exposure of CIS traders to the resource. For this to the list not only main tokens were included, but also rare national ones, too: Sibcoin Russia , Karbowanec Ukraine , Taler Belarus. The most serious ones generating doubts concerning the platform safety were 2 hacker attacks resulted in unauthorized access in The sum the hackers withdrew from the platform was around 20 dollars.
However despite of such round figures for the relatively small crypto exchange, these means were returned to their owners the platform creator Bogdan Chaika paid them himself. This indicates that a website is secure. If so, it could be a fake. Does the site feature bad grammar, awkward phrasing or spelling mistakes?
Does the website promise abnormally high returns? This should raise a big red flag and is a common indicator of a scam. Does it show the real people behind the company? Does it provide any details about where the company is registered? Do legitimate, reputable websites link to this site? This could indicate that the site is trusted and respected. What do other users say about the website?
Are there any negative reviews and, if so, what do they say? The crypto community is usually pretty quick to spread the word about scams. Who is the registered owner of a domain or website?
Is the owner hidden behind private registration? Has the domain been registered for less than six months? Is there anything else about the website that raises red flags or just seems too good to be true?
Does the website claim any celebrity endorsements? Many investment scams use fake celebrity endorsements to get people to lower their guard. Did you first hear about it on social media, or did they approach you first?
Social media and unsolicited messages are common ways for scammers to reach new victims. The important thing to remember is to do your due diligence before providing any personal or financial information to any website or app. This email contains a link that takes you to a site that looks almost identical to the exchange or wallet you usually use, but is actually a scam site. Once you enter your account details on this unofficial page, the scammers have everything they need to log in to your real account and steal your funds.
In a similar vein to phishing scams, keep an eye out for fake Bitcoin exchanges. Some will entice users with promotional offers that sound too good to be true. But once they have your money these platforms might charge ridiculously high fees, make it very difficult to withdraw funds or simply steal your deposit altogether.
These apps have even made it into official, legitimate app stores like Google Play, so it pays to do your research before downloading anything to your phone. By posing as a legitimate exchange and passing itself off as a branch of KRX, a large and reputable trading platform, it was able to ensnare innocent users.
See our vetted list of legitimate cryptocurrency exchanges. Poloniex is a large, prominent and legitimate crypto exchange. However, in it was the target of a sophisticated scam that saw at least three fraudulent Poloniex trading apps listed on the Google Play store.
These apps asked Poloniex users to enter their account credentials, thereby giving fraudsters a way to perform transactions on behalf of users and even lock victims out of their own accounts. Cryptos may be based on new technology, but there are still plenty of scammers using old tricks to con unwitting consumers. The classic example of this is an unsolicited phone call or email from someone claiming to be with the IRS.
Seduced by the astronomical price rises Bitcoin has experienced since its inception, many everyday consumers venture into the world of cryptocurrency looking for the next big thing. And if you want to get in on the ground floor, the easiest option for the average person is to buy coins or tokens in an ICO. Both were later shown to be multi-level marketing MLM scams. One common variation of this scam arrives in the form of an unsolicited email, where the sender claims to be a hacker who has accessed your PC.
The emails promise to send the incriminating evidence to all of your email or social media contacts unless you send some Bitcoin to the blackmailer, and will typically include instructions on how to purchase Bitcoin and where to send it. The scammers will often promise to send back double what you send them.
Although especially prominent on Twitter, this scam has also appeared on platforms including YouTube, where scammers will impersonate a celebrity in a video or livestream. After seeing all the apparently free money being given away, victims race to send money to the scammers before they have time to think it over. The scammers obtain this by taking over verified accounts and then changing the names.
Similarly, scams will often have thousands of likes, views, retweets or other types of social proof. A Ponzi scheme is a simple but alarmingly effective scam that lures in new investors with the promise of unusually high returns. These initial investors receive what they believe to be returns, but are actually payouts from the money deposited by newer investors.
Now satisfied that the scheme is legit, those investors who received payouts pump more of their money into the scheme and encourage others to do the same. Sooner or later, the scheme collapses when the promoter runs off with the money or it becomes too difficult to lure new investors. In January , Bitcoin investment lending platform Bitconnect shut down its lending and exchange services amid allegations it was a Ponzi scheme.
Malware has long been a weapon in the arsenal of online scammers. Rather than stealing credit card and bank account details, crypto-related malware is designed to get access to your web wallet and drain your account, monitor the Windows clipboard for cryptocurrency addresses and replace your legitimate address with an address belonging to a scammer , or even infect your computer with a cryptocurrency miner.
Cloud mining allows you to mine cryptocurrencies like Bitcoin without having to purchase the expensive hardware required to do so.
There are several legitimate cloud mining services that let users rent server space to mine for coins at a set rate. There are also some legitimate ways to invest in Bitcoin mining companies and share profits from them.
However, there are also plenty of cryptocurrency mining scams out there. Some promise astronomical and implausible returns and fail to disclose a range of hidden fees, while others are fronts for Ponzi scams and are simply designed to part you from your money. This is where large groups of buyers target an altcoin with a small market cap, buy that coin en masse at a particular time to drive its price up which attracts a whole lot of new buyers fueled by FOMO — a fear of missing out and then sell to take advantage of the significant price rise.
This sort of thing is illegal in traditional securities markets, but is a common occurrence in the largely unregulated world of cryptocurrencies. On closer inspection, the Twitter account was revealed to be bogus and not associated with McAfee at all. This is true for all international scams, but cryptocurrency in particular is especially difficult to recover. To help spread the word faster, you can also report specific types of scams to the relevant agencies. Storing your crypto offline in a secure physical cold wallet is usually considered to be a much safer option than using an online wallet.
Avoid new and untested platforms. You need your private key to access your crypto holdings, so make sure you never disclose any of your private keys to a third party. Tim Falk is a freelance writer for Finder, writing across a diverse range of topics. Over the course of his year writing career, Tim has reported on everything from travel and personal finance to pets and TV soap operas.
Details on the most common scams to avoid during the coronavirus health crisis, plus tips for keeping your information safe online. How does Bitcoin compare to gold? Here we compare scarcity, practical applications and the culture of value that surrounds each. Getting started with Aeon? Read our Cointree cryptocurrency exchange review to find out how it works and what you need to know before signing up. Click here to cancel reply. Subscribe to the Finder newsletter for the latest money tips and tricks.
I agree to the Privacy and Cookies Policy , finder. Here is a look at the long laundry list of bitcoin chart analysis trading patterns and graphs covered below:. You can find plenty of great crypto exchanges, including exchanges that accept your local currency and bank transfers. You can also find plenty of amazing wallet apps, portfolio manager apps, and other tools to maximize your crypto trading experience.
Once you have bought your first cryptocurrency, you can keep it in your exchange wallet, leaving it on the exchange for future trading or investment. Or, you can withdraw funds to your own wallet — like a mobile app on your phone. The crypto trading industry is filled with its own jargon. Here is a list of the 26 most popular terms with definitions you should know before getting into bitcoin chart analysis:.
These currencies exist in contrast to cryptocurrencies although some countries are debating launching their own cryptocurrencies, which would blur the line between fiat and crypto.
Crypto asset: A crypto asset is any token, coin, or digital currency with value. Sometimes, people will link a crypto asset to a specific technology.
Stablecoin: A stablecoin is a digital token deliberately designed to hold a steady price. Typically, stablecoins track a specific fiat currency, and most track the US Dollar. Stablecoins work in different ways, although most stablecoins are simply backed with US Dollar reserves, and users are allowed to swap their 1 USD stablecoin for 1 USD cash at any time, giving the token stable value. Crypto Exchange: An exchange is a website or platform where you can buy and sell cryptocurrencies.
Some exchanges only list cryptocurrencies, while others list fiat currencies and cryptocurrencies. Major exchanges today include Kraken, Gemini, and Binance, among others. Bid Price: The bid price for a given asset is the maximum price someone is willing to pay for that asset. Ask Price: The ask price for a given asset is the minimum price at which someone is willing to sell an asset. Bid-Ask Spread: The bid-ask spread is the difference between the bid price and the ask price for a specific asset.
In highly-liquid, high-volume markets, the bid-ask spread will be quite small. In smaller, lower liquidity markets, the bid-ask spread will be much larger. Bitcoin has been bombarded with FUD since the day it launched. Some cryptocurrency communities spread FUD about other coins. Buying the Dip: When a specific crypto asset drops significantly, but you see it as a buying opportunity.
Bull and Bear Markets: The terms bull and bear have the same meaning in crypto as they do in traditional markets. A bull trend is a long-term, upward trend in overall cryptocurrency markets, while a bear trend is a long-term decline in the overall cryptocurrency market.
Liquidity: Liquidity , in the crypto world, refers to the volume of a specific exchange, or how easy it is to make a trade on a particular exchange. A good, high-volume exchange is said to be more liquid and have higher liquidity. Whale: Whales are individuals or organizations that hold an enormous amount of crypto. Some are institutional hedge funds dipping their toes into crypto.
Others are people who accumulated bitcoin early and never sold. Wallets: Wallets let you manage your crypto holdings. Hot Wallets: Hot wallets are online wallets connected to the internet.
Cold Wallets: Cold wallets, or cold storage wallets, are wallets that are not connected to the internet. Exchange Wallets: Most exchanges have customer wallets where users can store their funds. These exchange wallets are seen as the least safe option because the exchange is in complete control of your funds. Most exchanges let you set up 2FA. Some exchanges will send you a text message or email to confirm a login. Other exchanges let you set up 2FA for every time you make a trade. Hodl: Hodl or hodling refers to the crypto investment strategy of holding crypto assets through all market conditions.
Bitcoin has risen and fallen numerous times, but hodlers have been able to survive the FUD and continue holding bitcoin to this day. Diversification: Diversification refers to the idea of owning multiple cryptoassets. Arbitrage: Arbitrage is the strategy of buying coins at one price, then selling them for a higher price in a different place.
You might buy bitcoin from Binance, for example, then sell it through LocalBitcoins at a higher price in your own local fiat currency. For the most part, beginners will only want to make market orders. With a market order, you buy or sell cryptocurrency at the best available price. More advanced traders, however, can take advantage of limit orders, stop-loss orders, leveraged trading, and more. Types of crypto trades include:. If the price point never ends up being reached, then your order may never be executed.
Some exchanges let you put a time limit on limit orders. Stop-Loss Order: Stop-loss orders let you set up a specific price at which an exchange will execute a trade to limit your losses. Take-Profit Order: Take-profit orders let you set up a specific price at which an exchange will execute a trade to maximize your profits.
Most beginner and intermediate traders, however, will be fine with the four trade types above. Costs of crypto trading include:. Trading Fees: Most exchanges charge maker fees and taker fees of between 0. Typically, the taker fee is higher. Deposit Fees: Some exchanges charge a fee to deposit money into the platform, although this is becoming less common.
Withdrawal Fees: Withdrawal fees are far more common on most exchanges. Typically, withdrawal fees are flat fees. Some exchanges also have minimum withdrawal amounts.
Fees can vary widely between exchanges. Typically, the better-regulated exchanges like Coinbase and Kraken charge higher fees, while the lower-regulated exchanges like Binance and KuCoin charge lower fees. Master The Crypto is one of the most popular cryptocurrency investment trading guide portals on the Internet and this section of our bitcoin trading chart analysis guide is geared to help everyone who is not a complete beginner get better at trading bitcoin for optimal results.
Crypto analysis falls into two major categories: fundamental analysis FA and technical analysis TA. Fundamental Analysis FA : Fundamental analysis is a non-statistical analysis method that evaluates the value of an asset-based on economic and financial growth factors. Fundamental analysts seek to determine the profitability of an asset based on its potential. They analyze the present value of the asset, then project the future growth of that asset. Technical Analysis TA : Technical analysis is a purely statistical method that involves examining price charts, trading volume, and other related numbers.
Technical analysts believe the price of an asset reflects market sentiment and all the necessary information at any given time, which is why they exclusively focus on statistically analyzing the price action of the asset.
These two analysis methods might seem contradictory, but they work best when used together. Smart investors take all available analysis methods into consideration. Crypto markets are highly volatile and unpredictable. However, we still see plenty of crypto market trends.
A market trend refers to the direction in which the price is perceived to be headed. Some people also use terms like a secular trend. A secular trend is a long-term market trend that lasts several decades — say, 30 years. A secular trend can be bearish or bullish, and there can be multiple mid-term primary trends within the broader secular trend. A primary trend , meanwhile, is a smaller, short-term trend within a broader secular trend. It may run opposite of the secular trend.
There can also be secondary trends within primary trends. After months of declining prices primary trend , the markets might seem to be suddenly going up after a week of positive movement secondary trend , only to continue dropping for the next four weeks. Unregulated, new markets like crypto are more prone to short-term volatility than traditional, well-established markets.
Crypto market analysts will frequently refer to terms like support and resistance levels. These levels play a crucial role in how crypto markets function.
Sometimes, the support or resistance level holds. In other cases, the support or resistance level breaks. Similarly, when the price drops below a support level, the support level could become the new level of resistance. In a fluctuating industry like crypto, support and resistance levels rarely stick around for long.
Support and resistance levels are often established because of buy walls and sell walls. A buy wall is a large number of buy orders placed at a specific price limit, while a sell wall is a large number of sell orders placed at a specific price limit. Sometimes, these are limit orders , where traders have set a specific price at which they want to buy or sell. In many cases, these buy walls and sell walls organize around recognizable price points.
Sudden price surges or drops can easily be halted by a wall of sell or buy orders. Crypto charts might look complicated at first glance. Once you understand what everything means, however, it will seem much less complicated. Each candlestick each green or red bar represents a 6-hour interval. You can adjust the timescale of a chart however you like. Some charts let you use intervals as small as 30 seconds, for example, while others let you use intervals of up to a year.
As with most financial charts, the Y-axis the vertical axis represents price, while the X-axis the horizontal axis represents time. You can see the price scale on the right side of the chart.
This is the interval between two price points. On this chart, the price scale is 50, which means the difference between the two price points is Price scale can be linear or logarithmic:. Linear Price Scale: With a linear price scale, the distance between any two points of the same numerical difference, regardless of value, is equal. The distance between 1 and 2 is the same as the distance between 9 and 10, for example.
Logarithmic Price Scale: With a logarithmic price scale, the distance between price points is linked to the ratio of the two values. The distance between 1 and 2, for example, is equal to the distance between 4 and 8 or 12 and The difference between linear and logarithmic price scales is significant. The first chart uses a linear price scale, while the second charts uses a logarithmic price scale:.
However, the logarithmic chart tells a much different story than the linear chart. The early days of bitcoin look especially impressive relative to the first chart. There are four general types of crypto charts, including line charts, bar charts, candle stick charts, and point and figure charts. Some line charts use open, high, or low prices for each period. In most cases, however, the price reflects the closing point for each interval.
A bar chart presents a more detailed representation of price action than a line chart. It shows the price at which bitcoin opened, for example, as well as the price at which it closed.
The high, low, and close prices are represented using a series of vertical lines with a horizontal dash on each side. The vertical line is called the range line, and it represents the range of price for each time interval, including the high and low. The horizontal dashes, meanwhile, represent the open and close for each interval. The bar chart above also uses color to indicate rising and falling intervals. A black range is used to indicate a rising interval where the closing price was higher than the opening price , while a red range is used to indicate a falling interval where the closing price was lower than the opening price.
Today, candlestick charts work in a similar way to bar charts. They allow you to see the high, low, open, and close for a particular day. However, these numbers are expressed in a slightly different way. With candlestick charts, there is a hollow or filled body with upper and lower shadows to represent open, close, high, and low prices. The length of the body of a candlestick and its shape is also used to represent the intensity of trading activity for a specific time interval.
The candlestick is mostly composed of the body the shaded area , which represents open and close prices. The shaded area also plays a role. Some candlestick charts also use a fill or unfilled pattern, with the candlestick being full or shaded when prices rise and being unfilled and empty when prices fall. Out of the four charts listed here, a point and figure chart are the least common.
A point and figure chart shows only price movements. The X column represents rising prices and the O column represents falling prices. Time and volume are not indicated.
If there is no significant price movement for a length of time, then the chart shows no new data. Any price change below this value is ignored. In the chart above, each X or O represents a rise or fall of two dollars. A reversal occurs if there is a change in the opposite direction by a value of at least four dollars. The point is to remove the distraction or skewing effect that occurs in other chart types when accounting for time intervals with insignificant price movements.
The chart only indicates significant price movements. Also, as an additional bitcoin chart pattern resource, here is a look comparing the bullish trading charts vs the bearish trading graphs:. Crypto traders will analyze charts to unveil different patterns. There are all different types of patterns. Typically, however, patterns are separated into three specific categories:. Continuation Patterns: These patterns indicate a brief consolidation period, after which the prevailing trend will continue in the same direction.
Reversal Patterns: These patterns indicate a shift in the balance of supply and demand, typically leading to a trend reversal. These patterns are sub-divided into top and bottom formations. Bilateral Patterns: Bilateral patterns are triangle formulations that indicate a trend could sway either way.
Some people might analyze a chart and see a continuation pattern, for example, while others will see a bilateral pattern.
Based on the interval and previous trends, analysis can vary. A cup with handle pattern can be either a continuation or a reversal pattern depending on the previous trend. It looks like this:. A cup with handle pattern in an uptrend as indicated above is a bullish continuation pattern. Aside from a small blip the cup , the upward trend will prevail.
Some cups are U-shaped, while others are V-shaped. In ideal conditions, the cup has equal highs on either side before consolidating at a specific price point the handle. The estimated price target for the next breakout after the consolidation is symmetrical to the height of the cup. In this chart, the same cup with handle pattern signifies the end of a downtrend and a breakout into an uptrend.
Once the cup formation transitions to a handle formation, the price must not decline beyond half the height of the cup. The longer it takes for the cup with handle pattern to form, and the deeper the cup formation, the greater the momentum behind the breakout and the higher the price target. When you add the height of the cup to the breakout point, it provides a good indication of the short-term price target. Flags and pennant patterns are continuation patterns. In this chart, we see the consolidation phase in the middle.
The long-term trend takes a brief brake, creating a rectangle shape on the chart. Then, the long-term uptrend continues, the rectangle breaks, and prices continue moving upwards. You can also have both bearish and bullish flags.
With these flags, the pennant is formed by a slight sloping move in the direction opposite to the prevailing trend. A flag is a rectangular shape, while a pennant is a triangular shape:. Flag and pennant patterns are typically preceded by a sharp rally or decline. You can analyze a price target from a flag or pennant chart. Typically, you do this by adding the length of the flag pole to the top of the formation in an uptrend and by subtracting the length of the flag pole from the bottom of the formation in a downtrend.
Once prices fall below the neckline, the upward trend breaks down, and markets enter a bearish trend, as seen in the chart below with the pullback and target line. Head and shoulders bottom charts , meanwhile, are also known as HS bottoms or inverse HS charts. Just like the HS top chart, the HS bottom chart consists of three parts, including two shallower valleys or higher lows on either side of a deeper valley or lower low.
You can calculate price targets from head and shoulders charts. For HS top charts, you can estimate the price based on the ratio of the higher high to the breakout point along the neckline. For HS bottom charts, meanwhile, you can calculate a price target by adding the height of the head to the breakout point using a similar method.
If the lower low is 20 and the breakout occurs at 30 a ratio , for example, then the target price is Double top charts are bearish reversal patterns in a prevailing uptrend. To calculate the price target of a double top pattern, you can either subtract the height of the formation from the point where support breaks.
A double bottom chart formation is what happens if you flip a double top formation upside down. The double bottom formation is a bullish reversal pattern in a prevailing downtrend. Prices may rally to a recent high following a downtrend, then fall again to the level of the previous low, before rallying a final time to break out above the previous recent high to complete the formation and reverse into an uptrend.
To calculate price targets for double top highs, you can add the height of the formation to the breakout point. If the bottom of the formation is 5, for example, and the first rally reaches 10, then the price target would be Making the above formations even more complicated is that we can sometimes have triple top and triple bottom formations that look similar to double top and double bottom formations.
They go against a prevailing uptrend or downtrend. As you can see here, the triple top formation consists of three equal peaks split by two valleys. The triple bottom formation, meanwhile, is flipped upside down, consisting of three identical valleys and two abortive peaks. The rounding bottom or saucer bottom formation is a bullish reversal or continuation pattern. You can connect low prices within the bottom to form a rounded shape representing the bottom of the saucer:. The formation first begins to form with selling pressure, causing prices to drop.
This pressure eventually loses steam and transitions to an uptrend. Buying pressure subsides, causing prices to drop to a new low, and this trend repeats several more times until the lowest low is hit. Then, buying pressure takes over, eventually leading to a breakout and completing the rounding bottom formation.
To calculate short-term price targets for rounding bottom formations, you add the height of the cup to the resistance line. There are two types of wedge patterns, including rising wedge patterns and falling wedge patterns.