25/11/2024
Unmasking the Forex and Crypto Hustle in Kenya
Let me share something thatās been happening in Kenyaāa trend thatās left many people frustrated and heartbroken. Youāve probably seen it online: young, flashy individuals showing off their āforex lifestyleāāluxury cars, exotic vacations, and motivational posts about financial freedom. On the surface, itās inspiring. But dig a little deeper, and youāll find some of these stories are just scams dressed up as success.
It often starts with an image of overnight success. They tell you, āI used to struggle, but forex/crypto changed my life.ā Itās relatable, and honestly, who wouldnāt want that kind of transformation? Then they launch expensive classes, promising to teach you how to trade and make millions. The fees? Not cheap, but youāre told itās an investment in your future.
Once theyāve earned your trust, they up the game. They pitch investment plans: āYou donāt even need to trade yourselfājust invest with us, and weāll trade for you.ā And the returns they promise? Unrealistic, like 20% weekly. This is where many people lose their hard-earned money.
To make it sound even more legit, they throw around crypto buzzwords like blockchain or staking, claiming theyāre mining coins or launching the next big crypto project. But in reality, itās all smoke and mirrors.
When things eventually fall apartāand they always doāthe excuses come pouring in. āThe market was unstableā or āYou didnāt follow the plan properly.ā By this time, the so-called āguruā has disappeared or rebranded, ready to start the hustle all over again.
What hurts the most is how these scams destroy the trust people have in genuine forex and crypto traders who are working honestly to build their businesses.
The takeaway? Be cautious. Not everyone selling dreams has your best interests at heart. Real professionals wonāt promise you overnight riches or pressure you into shady investments. Take your time, do your research, and remember: if it sounds too good to be true, it probably is.
Letās talk about these issues and create awareness. The more we call out these scams, the fewer people will fall victim to them.