Binary Options Scam Buster Rebrands to Take On Crypto-Fraudsters

With the increasing demand for Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term in the market, BinaryOptionsThatSucks.com, one of the leading binary options related fraud-busting site, has rebranded itself to ThatSucks.com to extend its support to the crypto audience.

Cryptocurrency trading soared in recent years, but the unregulated nature of the sector has attracted a lot of fraudsters and scammers.

Binary to crypto

Binary options are one of the most controversial instruments in the financial trading arena. The simplicity of the instrument has made it popular, but due to its highly speculative nature, major regulated exchanges do not encourage them. As a result, a majority of the binary options trading is done on unregulated platforms which lend a breeding ground to fraudulent operations.

As the charm of binary options is wearing off, another player - cryptocurrencies - wild and aggressive in nature, has emerged, and given its decentralized and unregulated nature, imposing regulations on the industry has become one of the primary concerns to authorities all around the world.

Rising complaints

The issues of funds stuck on exchanges and price manipulations are relatively common among crypto traders. Threads in BitcoinTalk.org and Reddit are flooded with traders' complaints every day.

According to ThatSucks.com, they have witnessed more complaints related to crypto trading in the last five months than they did in the last seven years together - a total of 3,000 cryptocurrency-related complaints.

In these circumstances, regulatory rules on the sectors have become a necessity, however, a complete ban would cripple the economy due to the large-scale involvement of retail investors, as well as institutions.

ThatSucks.com is also planning to educate the masses by offering education on the crypto sector along with trading lessons. The signature forums sections of the platform will be open to share cryptocurrency trading related problems as well.

Martin Kay, co-founder of ThatSucks.com, told Finance Magnates: “Bitcoin is a dream come true Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term-binary options scammers; not only they continue to make hollow promises of getting rich quickly, now they take your money and process it through crypto wallets which could never re-trace.”