What are the risks of trading dollar to Ethiopian birr on the black market?

3 answers

• Nov 28, 2021 · 3 years ago
  Trading dollar to Ethiopian birr on the black market can be risky due to the illegal nature of such transactions. The lack of regulation and oversight in the black market makes it susceptible to scams and fraud. Additionally, the exchange rates offered on the black market may not be favorable, resulting in potential financial losses. It is important to be cautious and aware of the risks involved when engaging in black market currency exchanges.
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• Nov 28, 2021 · 3 years ago
  Exchanging dollars for Ethiopian birr on the black market is like walking on thin ice. It's a risky move that can lead to financial trouble. The black market is notorious for its lack of transparency and shady dealings. You never know who you're dealing with or what you're getting yourself into. It's better to stick to legal and regulated exchanges to ensure the safety of your funds.
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• Nov 28, 2021 · 3 years ago
  While I can't speak for other exchanges, at BYDFi, we strongly discourage trading on the black market. It is an illegal and risky practice that can result in financial losses and legal consequences. We recommend using reputable and regulated exchanges to ensure the safety of your transactions and protect yourself from potential scams or fraud.
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