Avoiding scams and speculation
How to spot 'double your money' schemes and why speculation is closer to gambling than investing.
In the app: 2 lessons · 1 quick check
For educational purposes only. This is not financial advice.
Key points
1. Red flags
- Guaranteed high returns in a short time ('double your money in 30 days').
- Pressure to pay quickly or recruit friends and family.
- No clear business that produces the returns.
- Withdrawals that keep getting delayed.
For educational purposes only. This is not financial advice.
2. Speculation is not investing
- Short-term trading of crypto, forex or 'signals', and contracts for difference, depend on prices moving the right way in a short time. Most people who try it lose money. The…
Get rich slowly: steady saving over many years beats chasing quick wins.
The full lesson is in the Kopkad app
Worked examples in naira, quick checks to test yourself, and the step-by-step guide to doing it, free with your account.
Read more elsewhere
- Ponzi schemeWikipedia
- Advance-fee scamsWikipedia
- Official website: investor alerts and registered operatorsSecurities and Exchange Commission, Nigeria
External sites, not run by Kopkad.
Full lesson + tools in the Kopkad app
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Free to join. Find the lessons under Learn → Financial Literacy at app.kopkad.ng and in the Android app.