November 2020
Browsing, looking at the current state of gold. Had been holding some for many years now and the $ value had doubled and I was looking for the gold/silver ratio to move so that I could make a swap. A little add caught my eye, "China introducing Crypto Currency". Im like ok I seemed to have missed out on Bitcoin so maybe this will be a good thing to get into now. So, yes, I hit the link. It took me to an exchange where I was prompted to deposit $250 US. No big deal, it was taking a credit card, so it has to be legit right?
I will not name companies I have problems with, only those which I believe are good and or I use them. The image above is a stock image, kind of looks shady.
Looking over the site, I can not see any Chinees coin, just a list of ones I never seen or new exited. I did not know there were so many coins and what the movement was like. Those not involved really only hear of the huge losses, or a new peak, no real day to day knowledge. That was me. With in 12 hours of depositing I received a phone call from the exchange. They wanted to "help" me make huge returns. This would happen if I deposited $10,000 and became a "silver" member. At the time I did not have the spare funds, but over the next few weeks I got almost daily calls. One may think that I should have terminated contact but, I was learning things and I wanted my $250 back. During one section with my "Senior" account manager, we signed some documents to enable my multiplier to be 40 instead of 10. He then proceeded to pump my account from $250 to $800 in about 15 minutes. All I can think is that, if these guys can do this with me, why are they not doing for themselves? I was impressed and happen to catch an uptick in crypto that happened around that time. So I cashed my gold, and told these guys I had done so. That I was ready to deposit a bunch of cash. I suggested that we test the withdrawal sequence and to take out $250 as a test transfer. Since I had never done a crypto transfer before, this was also a learning process. Created a wallet for them to send to and they did. The next time we talked I told them there was no way I would ever deposit those kinds of funds. I had to tell them several times. Since my account there still had $1000 + I wanted to play with it and maybe extract more.
This little experience I am sharing, led me into a new world of crypto gaming. I will continue posting the story of what I have discovered and what I am currently involved in.
Another fee stock image of crypto coins.
I ended up getting an account with bitvo.ca , a Canadian exchange. I am happy with the service and the fact that they are in Canada.
The end of the story goes like this. I played with the account, went up, went down but I never really made big bucks. Seemed to always choose the wrong time to buy or sell. A few months after no word from the scam exchange I get a call. I have a new account manager. He is very friendly and shows me some other ways to trade. The first meeting resulted in a small loss. The second meeting he suggested a couple of trades that seemed reasonable but the next morning when I went to log in, I was rejected. Checking my email it seems my account ran out of funds. So, in the end, nothing more than expected. But I did gain, knowledge.
This is the happy ending to this tale, I learned from it and got involved in something I should have been involved in 2-3 years before. In the end, I am very happy I hit that link. If I had not, I would still be in that other world of "Non-cyrptonites". (I'm sure that is a word)
Hope you enjoyed
Stay tuned for more of the adventure.
Sckoarn