This post is especially for those who are new to the world of crypto. I'm sharing my experience here to warn you about many people who will tempt you with free signals, show you dreams of huge profits, and then not only scam you out of your money but also cause you additional losses.

I am a regular Binance user, so my examples will mainly be related to Binance. You’ll mostly find such people in Binance square, WhatsApp, or Telegram free signal groups.

Here’s how they scam you:

1. They will offer you the first signal for free to showcase their signal accuracy. After that, they will demand 40% to 50% of your profits as a fee.

2. What they actually do is pick random "gainer" coins and ask you to place a trade. If it works out by luck, they will stay with you as long as you’re making profits. But as soon as you face a loss, they will block you.

3. They encourage you to trade with a margin of over 100 USDT and use a minimum leverage of 20x. If your trade goes into a loss, they’ll advise you to hold, but the trade keeps sinking further, and you get liquidated.

Precautions:

* Stay away from such scammers.
* Always use a stop-loss in your trades.
* Increase your knowledge and do your own research.
* Create and execute your trades independently.
Stay safe!
#2024withBinance #CryptoHistoricMoment