Trading Bitcoins through binary miner

Question

I don't really understand how binary options work and someone recommended a company called empireoptionstrading.com for me to invest in.

I tried to find more information on the company but I don't really know what to check against the company before I give them my money to trade for me. Is it a safe, reputable, legitimate, and reliable company to invest in?

Please advise.

Answer 1

Their homepage advertises them as:

WORLD'S BEST RISK FREE FOREX, BINARY AND BITCOIN INVESTMENT

Any entity that advertises any form of trading as risk free is a scam. Essentially all binary options, mining investment, "automated trading" platforms are scams in the crypto space.

The only legitimate way to make money here is to (correctly) speculate yourself, invest in mining hardware that you operate directly, or build profitable services around the crypto ecosystem. Anything besides that is a scam.

Answer 2

I dont really understand how binary options work

My principle is don't invest money in things you don't understand thoroughly.

From all I have read, binary options are always either a scam or incredibly risky and stupid.

i dont really know what to check against the company before I give them my money to trade for me.

I wouldn't invest any money in any company if I didn't know how to perform basic checks

• How long ago was their domain name registered?
• Where was it registered?
• Is their web site a copy of other scammy websites?
• Does their web-page lack any details of a business address?
• Does google maps show their business address is a small home in some random 2-bit hick town in the middle of nowhere?
• Is their business address in office space that is rented by the hour?
• Do they claim to be registered in a reputable country?
• Does the appropriate government registrar of companies have details of the business?
• Do those details match up?
• How long have they been in business?
• What accounts have they filed?
• Do those accounts show expected level of turnover?
• Are they using small-business exemptions?
• Are there any negative filings (e.g. notice of deregistration, late accounts, other late filings)?

Please advise

• Never invest money you cannot afford to lose completely.

• Keep your money in the bank until you have spent a few months learning about investing in general and bitcoin in particular

• Never invest money you cannot afford to lose completely.

• Spend a few weeks reading about MtGox, Quadriga, common bitcoin scams, advance-fee fraud and so on.

• Never invest money you cannot afford to lose completely.

• Never act on what advisers tell you. First perform independent checks that don't rely on phone numbers or other information provided by the adviser.

• Never invest money you cannot afford to lose completely.

• Don't trust people hiding behind Facebook or other social media accounts.

• Never invest money you cannot afford to lose completely.

• If an adviser tries to rush you into doing something, immediately and permanently break all contact with them. Write off any money you gave them. Move on with your life.

• Never invest money you cannot afford to lose completely.