I recently received this email from a friend:
I have a question. I have been looking at some ways to make extra money and have more flexible hours at home by making money from the Internet.
I have come across this e-currency trading thing. Do you know anything about how it works? Is there one program better than another? From what I understand the money exchanged on the Internet needs cash back-up, like a wire with Western Union or currency exchange companies.
But e-companies find the banks charge too much, so they approach these companies that set up “cash accounts”.
And I would be providing that “cash”. It’s the no-risk thing and fees on the back-end to get your money out that I am concerned about. Your thoughts?
I’ve never heard of this. Unfortunately, I don’t know anything about it
or have any experience with it.
One thing you said raises red flags for me,
“But e-companies find the banks charge too much, so they approach these companies that set up “cash accounts”.
Banks don’t charge too much. They charge standard fees and probably cut special deals for people that make a lot of transactions.
It sounds like an elaborate ‘story’ to get you to put up your money. My guess is that you would have a hard time getting it back, if you could at all.
I could be wrong about that. But if you decide to move forward, I would do so with extreme caution.
You already have a question mark on your mind or you wouldn’t have asked. Sounds like your instinct
has already told you what you need to know.
Of course, this is all just opinion and speculation. As I mentioned at the beginning, I have no practical awareness or experience with this kind of ‘business’.
My opinion is that is sounds fishy enough already. There are plenty of people that want to get their hands on your cash, and they don’t mind cheating you to do it.
This is a tough world.
It is hard to tell the pearls from the fish eyes……
I’ve been scammed a lot, so I’ve become more cautious.
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