I got scammed! The lessons I learnt

This year has been the strangest of years. Covid has brought out the best and worst of people during these times. The stresses we have faced this year range from worrying about being idle, worrying about our families; worrying about work and its stability and then worrying about our finances.

So with the stresses of being self-employed in a world gone mad. Business has been anything but booming... the same boat as most people in the world.

SCAM NUMBER 1: Over the past five years I had tried my hand in online trading, I had investigated this thoroughly before embarking on trading. When I started trading a few years ago, I had the cash to experiment and "try" things out. A luxury then, but not this year. Anyway I had stopped trading because I kept bombing my account. The carrot was there though, and I knew that if I could learn from my mistakes I could really do well. My trading account had been dormant for over a year. So I started searching linkedin for a possible tutor in trading. My personality is by nature initially cautious, but once a decision has been made,I fly with the force of an avalanche behind me. A person contacted me, (Thanks Google algorithms); and we chatted and I explained I was looking for a tutor. Josie was prepared to teach me and take a 15% cut of any trades we made together. Payable after the money was in my account. I was super excited. I felt comfortable that surely it couldn't be a scam if she was being paid from my bank account after the earnings. But Josie (Alias), insisted on using her platform, this bothered me. I vacillated, for several weeks, I discussed it with my family. I kept on querying why I should use her platform, but her logic was that it would be easier to use hers. So, I relented and I loaded hers, then loaded it with $500. And was eager to begin. Only to find out that, that "oops you need to have $1000 in the account for you to SEE the trades"... "but dont worry I will trade it for you"; I was told. (Warning bell) For the next few days I watched my balance go up. and up.. wow. I was ecstatic.(I was frightened at the same time - thinking about how I lost my money trading on large patterns, and even said to her, that she had a lot of courage taking such huge risks) The time was coming for a withdrawal. And here comes the cruncher, now all of a sudden the company wanted $5000 to withdraw the funds. Whaaaat???? I didnt have $5000 ...?Josie said she would pay it... and then I could re imburse her. And so the dance began. "Oh I'm short $1000; cant do it this week" and the weeks went by. So, like an idiot I volunteered that I could help with an additional $500... just eager to get going. Still nothing... so then I started getting frustrated so the company returned my $500, but I sent that to Josie so she could add to the shortfall. An so I was whammied $1000. Josie disappeared quietly. The company still is waiting for my $5000 to "release" my funds.

SCAM NUMBER 2

So after the Josie story - I was even more cautious. But I was not convinced that the company was /is a scam. And then I saw another "opportunity"... Deposit "x" and earn "y" over night. Frustrated, I decided after a few days of watching and asking questions to give it a go. So I deposited $300 And the following day there the money was "waiting to be withdrawn in the account"... only to be told that I needed to first pay $750 to release the funds. And that was scam number 2.

BITCOIN

I have still been determined to find another means of investment despite being scammed twice. Now I really do my due diligence. I ask as many questions as possible. I check the IP domain, I check the websites who list all the popular scamming websites. I am far more careful.

And then a couple of months ago I was introduced to a South African bitcoin Company. An MLM bitcoin company. I felt comfortable after I heard the CEO speak. So I invested with the minimum amount $100. And true to their word - my money was easily available and growing...albeit slowly. But then, I saw news reports of this company that set off every alarm bell. One of my connections here on Linkedin who was also an investor in this company, told me he was withdrawing all his funds. That he had an connection that was checking out a different company and in the process of doing due diligence. A few days later I withdrew my funds from the South African company because of their scandals. They may still prove to be legit, so I haven't closed my account but I certainly am not promoting them either... not until their public house is in order.

INVESTORS CLUB

One of the positives that has come out of these experiences is that I have connected with a bunch of people here on Linkedin who, also having been scammed are also more cautious. We have banded together forming an investors club, we bounce ideas off each other. Calm each other down when getting too excited. Help each other do due diligence, and basically we are looking out for each other. It is through this group of people that I connected with the company that I am now investing with. So far so good.

Note" If you would like more information on our little club, and think that you too might want to earn in bitcoin. There are LEGIT companies out there. Its just a good idea to not do it alone.

I would like to end off on this note: There are scammers in the world or "takers". But not everyone is a scammer there are many "givers" too. And after being scammed, learn from the lessons. Be more vigilant, but don't let it paralyse you into not taking calculated risks. Without risks there is no gain. Join a group of like minded people who you can bounce ideas off. You don't need to do it alone. There are many people out in the world who will mentor and guide you... people who are by nature "givers", even if its only to share their experience.