What are the bitcoin contract scams? One article reveals the bitcoin contract scam

Bitcoin Contract Investment Risk and Risk Avoidance Guide: Revealing Common Scams and Security Trading Strategies

Bitcoin contract trading has attracted much attention because of its high leverage and high returns, but it also hides many risks. To help investors avoid risks, this article will dig into common Bitcoin contract scams and provide practical advice on secure transactions.

Beware! Common Bitcoin contract scams

The Bitcoin contract market is mixed, and investors should be wary of the following common scams:

1. False trading platform: This type of platform disguises itself as a formal exchange and uses high returns as bait to attract investors, but in fact the platform does not have real transaction matching, and the funds invested by investors will eventually be swept away.

2. High leverage trap: Although high leverage trading can amplify returns, the risks also increase exponentially. Scammers often use high leverage to induce investors to conduct large-scale transactions. Once the market fluctuates, investors may face huge losses or even liquidation.

3. Automatic trading robot scam: Robot software that claims to be able to trade automatically and have high returns is mostly scams, and there may be behaviors of manipulating the market or manipulating the transaction results behind it.

4. Fund pool/joint investment scam: This type of scam is in the name of "collective investment, shared income", which attracts investors to invest money, but in fact the funds will be misappropriated or used for other purposes.

5. Ponzi Scheme: Use the funds of new investors to pay for the returns of old investors until the capital chain breaks, which ultimately leads to heavy losses for all investors.

6. Virtual Currency Option Contract Scam: Through false market data or manipulation of option prices, investors are induced to purchase option contracts, which ultimately leads to investors' losses.

How to safely conduct Bitcoin contract transactions on formal platforms such as Ouyi OKX?

Choose a formal trading platform is the first step in safe trading. The following steps take Ouyi OKX as an example to demonstrate how to conduct contract trading on a regular platform:

1. Register Ouyi OKX account: Visit Ouyi OKX official website (click here to register) to complete email, mobile phone number verification and identity authentication.

2. Complete identity authentication: In order to ensure account security, please complete the identity authentication required by the platform.

3. Purchase digital assets:Purchase USDT or other trading currencies through C2C trading or other means.

4. Set account mode: Select single currency margin or cross currency margin mode.

5. Select contract type and parameters: Select perpetual contract or delivery contract, set trading units, order mode, etc.

6. Conduct contract trading: According to market conditions, place orders with caution, set stop-profit and stop-loss, and control risks.

7. Monitoring positions: Monitor positions in real time and adjust strategies in a timely manner.

Risk warning: Bitcoin contract trading risks are extremely high. Please invest carefully, do not blindly follow the trend, and do a good job in risk management. The above information is for reference only and does not constitute investment advice.

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