Man claims “crypto-broker” offered to sell his parents Bitcoin at a 5% discount from market rate

SINGAPORE: A man sought advice online on how to dissuade his parents from potentially falling for a crypto scam. He posted on r/askSingapore, explaining that a “crypto broker,” who happens to be a friend of his parents, was proposing to sell them Bitcoin at a 5% discount from the market rate.

He also pointed out that if it were truly that easy to earn a 5% profit, then why would the broker share the opportunity instead of taking advantage of it herself? “Either way, my parents have put this idea on hold, but I think I would have to discuss it with them before they take action. If you guys have any pointers on how I can reason with them let me know. Thanks all!”In the discussion thread, several Redditors suggested that instead of simply telling his parents to steer clear of cryptocurrency, he should “educate them” about its risks.

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