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TagsHow can I protect myself from scams when trading cryptocurrencies OTC?
limaoDec 29, 2021 · 3 years ago1 answersWhat are some effective strategies to safeguard against scams when engaging in over-the-counter (OTC) cryptocurrency trading?
1 answers
- At BYDFi, we understand the importance of protecting yourself from scams when trading cryptocurrencies OTC. One way to do this is by conducting thorough research on the counterparty before engaging in any transactions. Check their reputation, verify their identity, and look for any red flags. Additionally, consider using a trusted escrow service to ensure a secure transaction. By holding the funds in escrow until both parties have fulfilled their obligations, the risk of fraud is significantly reduced. Remember, vigilance is key when it comes to OTC trading, and if something seems too good to be true, it probably is.Dec 29, 2021 · 3 years ago
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