Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 Recover my deposit through digital currency, How to do it?

views
     
TSsharp56
post Mar 22 2019, 03:27 PM, updated 6y ago

Casual
***
Junior Member
332 posts

Joined: Nov 2008
I put some deposit into CFD Corporate, an unregulated forex broker situated on an island off Switzerland, some 5 months ago and they refused to refund my deposit even after lodging complaints and police report.

As a last resort to get my money back, I was thinking of asking them to buy some digital currency and withdraw them from an ATM machine in Malaysia.

I don't know anything about digital currency and have never purchased them before. Can you advise me:

1. which suitable digital currency should I ask them to buy which I can easily withdraw in Malaysia? My aim is not for investment but to recover my money.
2. after buying the currency what should I do? Should I buy a wallet or something?
3. how to transfer digital currency to an ATM machine? Do they have an ATM card or something?
4. Which currency is widely used in Malaysia for purchasing items online and offline?

Would appreciate any advice from you guys. Thank you.

This post has been edited by sharp56: Mar 22 2019, 03:35 PM
Ash1988
post Mar 22 2019, 03:53 PM

On my way
****
Senior Member
641 posts

Joined: Aug 2008

Just ask them to buy and send you in BTC.
You can get e-wallet for free.
If you don't know how to transact or turn into fiat and trust me, I could help you with a fee smile.gif
Andrew Lim
post Mar 22 2019, 06:30 PM

Just keep on keeping on
*******
Senior Member
2,839 posts

Joined: Nov 2007


If they're not willing to refund your currency in fiat, I'm surprised if they're willing to buy digital currency and send it to you.

Anyway the popular choices should be Bitcoin, Ethereum or Litecoin.

You just need to give them your wallet address for the specific digital currency. Then all they need is to send it to your wallet address.

Then to convert it to Ringgit, sell the digital currency on a peer-to-peer site like Remitano.

This post has been edited by Andrew Lim: Mar 22 2019, 06:31 PM
shahrul09
post Mar 22 2019, 09:28 PM

Regular
******
Senior Member
1,330 posts

Joined: Feb 2011
You can read the first post of this thread and dyod after that and do give it a read and try to understand it first at least
https://forum.lowyat.net/topic/4320604
icemanfx
post Mar 22 2019, 10:26 PM

20k VIP Club
*********
All Stars
20,796 posts

Joined: Jul 2012



QUOTE(sharp56 @ Mar 22 2019, 03:27 PM)
I put some deposit into CFD Corporate, an unregulated forex broker situated on an island off Switzerland, qsome 5 months ago and they refused to refund my deposit even after lodging complaints and police report.
riotx
post Mar 25 2019, 09:11 AM

Getting Started
**
Junior Member
66 posts

Joined: Jun 2013
From: Petaling Jaya



QUOTE(sharp56 @ Mar 22 2019, 03:27 PM)
I put some deposit into CFD Corporate, an unregulated forex broker situated on an island off Switzerland, some 5 months ago and they refused to refund my deposit even after lodging complaints and police report.

As a last resort to get my money back, I was thinking of asking them to buy some digital currency and withdraw them from an ATM machine in Malaysia.

I don't know anything about digital currency and have never purchased them before. Can you advise me:

1. which suitable digital currency should I ask them to buy which I can easily withdraw in Malaysia? My aim is not for investment but to recover my money.
2. after buying the currency what should I do? Should I buy a wallet or something?
3. how to transfer digital currency to an ATM machine? Do they have an ATM card or something?
4. Which currency is widely used in Malaysia for purchasing items online and offline?

Would appreciate any advice from you guys. Thank you.
*
sorry to hear that from you. As you clearly mentioned that its unregulated so I dont think they will be giving you your money back.
And you further highlight that you are only buying digital currency to recover your money, which means that you are trying to speculate it -> more like gambling here if you do not know what you are buying into.

my advise to you is that only get into broker which is more well-known and only get into investment which you have knowledge about
TSsharp56
post Mar 25 2019, 02:14 PM

Casual
***
Junior Member
332 posts

Joined: Nov 2008
QUOTE(Andrew Lim @ Mar 22 2019, 06:30 PM)

Anyway the popular choices should be Bitcoin, Ethereum or Litecoin.

You just need to give them your wallet address for the specific digital currency. Then all they need is to send it to your wallet address.

Then to convert it to Ringgit, sell the digital currency on a peer-to-peer site like Remitano.
*
Andrew, thanks for your short explanation. Which wallet would be suitable for Bitcoin for later conversion into ringgit?
TSsharp56
post Mar 25 2019, 02:16 PM

Casual
***
Junior Member
332 posts

Joined: Nov 2008
QUOTE(shahrul09 @ Mar 22 2019, 09:28 PM)
You can read the first post of this thread and dyod after that and do give it a read and try to understand it first at least
https://forum.lowyat.net/topic/4320604
*
Thanks shahrul09 for pointing me to the website. I'll need time to slowly digest it
Andrew Lim
post Mar 25 2019, 04:08 PM

Just keep on keeping on
*******
Senior Member
2,839 posts

Joined: Nov 2007


QUOTE(sharp56 @ Mar 25 2019, 02:14 PM)
Andrew, thanks for your short explanation. Which wallet would be suitable for Bitcoin for later conversion into ringgit?
*
I suggest trading on a site like Remitano to convert any Bitcoins to MYR.
This is how it works in general for me:

1. Register for Remitano and you will get a Bitcoin address to deposit to. You will need a Malaysian bank account to receive MYR.
2. Transfer your Bitcoin into your Remitano address
3. Find a buyer for Bitcoin on Remitano, then start selling.
a) Your Bitcoin will be locked and held by Remitano's escrow
b) The buyer will transfer the MYR to your Malaysian bank account
c) Once you have verified, confirm and unlock your Bitcoin and it will be transferred into the buyer's account

TSsharp56
post Mar 25 2019, 04:25 PM

Casual
***
Junior Member
332 posts

Joined: Nov 2008
QUOTE(Andrew Lim @ Mar 25 2019, 04:08 PM)
I suggest trading on a site like Remitano to convert any Bitcoins to MYR.
This is how it works in general for me:

1. Register for Remitano and you will get a Bitcoin address to deposit to. You will need a Malaysian bank account to receive MYR.
2. Transfer your Bitcoin into your Remitano address
3. Find a buyer for Bitcoin on Remitano, then start selling.
a) Your Bitcoin will be locked and held by Remitano's escrow
b) The buyer will transfer the MYR to your Malaysian bank account
c) Once you have verified, confirm and unlock your Bitcoin and it will be transferred into the buyer's account
*
Thank you, Andrew Lim. This is exactly a straight-forward simple explanation that I am looking for.
kinowerty
post May 25 2019, 02:06 PM

Getting Started
**
Junior Member
289 posts

Joined: Jul 2009


Look into this. Using Ripple XRP

https://www.google.com/amp/s/www.cryptonews...pple/18945/amp/

 

Change to:
| Lo-Fi Version
0.0131sec    0.52    5 queries    GZIP Disabled
Time is now: 29th March 2024 - 06:28 PM