People who scam with dead currency

[Grant]

So I heard there are people out there in some countries, that give out old currency that is no longer usable, as in it has no monetary value anymore. Anyway, I was watching a video on YouTube, and it discusses scammers who do this. They will give you old currency, and will replace it with good currency, essentially stealing from you.

Has forex trading ever dealt with dead currency before? And if so, how does it combat it?

 

[Alexandoy]

I think the dead currency can be sold to collectors. If it was traded with forex then I don't think any forex trader will accept a dead currency unless the buyer is not a trader and he is ignorant of the goings on in the country of the said currency. With forex I know that people just do not buy the currency unless they know all about the country's economic and political situation.

 

[Richard92]

I want to call with their currency has to be find by the government of such nation and being dealt with it is not my responsibility but the responsibility of the government to put some actions in place in order to stop that.

 

[Kelly5]

A dead currency cannot go without notice to anyone holding it in their hands. Except you are talking of fake prints of such currency. That is when it becomes difficult to easily spot during currency exchange.

 

[Jumoke12]

So I heard there are people out there in some countries, that give out old currency that is no longer usable, as in it has no monetary value anymore. Anyway, I was watching a video on YouTube, and it discusses scammers who do this. They will give you old currency, and will replace it with good currency, essentially stealing from you.

Has forex trading ever dealt with dead currency before? And if so, how does it combat it?

dead coins or dead currency are one of the reasons why I don't buy the idea of picking up forex trading anyhow or buying so-called shit coins which can later be dropped should there be any problems

 

[Bousine123]

I don't think that's possible my friend. You can scam someone with old currency because he or she would know because it would be publicated.
The only one I know of is the use of fake currency.

 

[Kubiat-Abasi]

You see one of the reasons most government will leverage on the ban of crypto currency because of the high level of scam in the system.

 

[Elfinito]

Forex is digital trading so I wonder how someone would trade with a dead currency.
The forex market platform only accept real and valuable money.
Maybe you traded in a scam site

 

[YERUS]

So I heard there are people out there in some countries, that give out old currency that is no longer usable, as in it has no monetary value anymore. Anyway, I was watching a video on YouTube, and it discusses scammers who do this. They will give you old currency, and will replace it with good currency, essentially stealing from you.

Has forex trading ever dealt with dead currency before? And if so, how does it combat it?

There are all sorts of scammers out there.
I have never heard of dead currency as it concerns forex.
This dead currency thing is worth looking out for.

 

[eLdavis]

Well I do not really know much about the scaming though, but I do know there are people who usually buy such currency, like some weeks back in my country there where some groups of persons who where looking for our old flat currency that is no longer in use and they where ready to buy it for huge amount.

 

[Toyoabasi]

So I heard there are people out there in some countries, that give out old currency that is no longer usable, as in it has no monetary value anymore. Anyway, I was watching a video on YouTube, and it discusses scammers who do this. They will give you old currency, and will replace it with good currency, essentially stealing from you.

Has forex trading ever dealt with dead currency before? And if so, how does it combat it?

This is possible.
Scammers go to all extent these days.
Forex traders should be on the look out for things like this.

 

[Immilash]

That's why most government banned cryotocurrency. When buying cryotocurrency make sure the coin you are buying is well known coin.

 

[Kingstone]

I seem not to fully understand the meaning of dead currency. In Nigeria, I think we can call kobo a dead currency but we are still using it as online payment and charges but not carried out physically. So do people buy these dead currencies or how did they scam people?

 

[HayKay]

I've Never heard of this before and I kind of doubt the possibility of this happening to be honest. One thing I know and can do is to be cautious of traders and platforms that are suspect and haven't been in existence for a while.

 

[joy101]

I don't think that I can be impossible to scam someone who know about the new currency, you can scam those with old currency that don't know any update, when buying cryptocurrency will should make sure about it.

 

[Genie01]

The prevalence of scammers and scams in the forex industry calls for security measures.
One has to be careful with choosing the right broker, careful research should be done before one should think about depositing their hard earned money

 

[Imran_Noori]

So I heard there are people out there in some countries, that give out old currency that is no longer usable, as in it has no monetary value anymore. Anyway, I was watching a video on YouTube, and it discusses scammers who do this. They will give you old currency, and will replace it with good currency, essentially stealing from you.

Has forex trading ever dealt with dead currency before? And if so, how does it combat it?

Yes there are many scammers waiting for their prey, this could be one of the technics they use, they would cheat you in many different ways, so everyone should be careful.

 

[UsmanAmoyo]

The prevalence of scammers and scams in the forex industry calls for security measures.
One has to be careful with choosing the right broker, careful research should be done before one should think about depositing their hard earned money

Yes, I absolutely agree with you.
It is important to make adequate research before making your deposit in order to avoid stories that touch.
This is the wise thing to do

 

[HayKay]

You see one of the reasons most government will leverage on the ban of crypto currency because of the high level of scam in the system.

Finally someone gets to understand my point as regards the crypto market generally. The level of irregularities being committed in the name of an independent ecosystem is alarming and no sane government will want to allow such form of chaos.

 

[Mighty]

I don't know much about this but I think a dead currency cannot go without notice to anyone holding it in their hands. Except you are talking of fake prints of such currency. That is when it becomes difficult to easily spot during currency exchange.