Ponzi Schemes in Cryptocurrency

[Golden9]

Recently, ponzi schemes have been making a comeback and cryptocurrency is one of the mediums they like to use. They mostly target people who have no knowledge of how cryptocurrency works, and promise them huge returns on Bitcoin, or the next coin that will take over Bitcoin.

I think it's important that we educate those around is so they don't fall as the victims of such scams. The signs are usually very clear to anyone with a bit of experience, and it would also help the reputation of cryptocurrency.

 

[Suba]

Ponzi scheme is a type of fake investment that pays initial investors from subsequent investors, prioritizing the recruitment of new members, in contrast to Multi-level marketing which is the sale of real products. Currently there is a new model of ponzi schemes in crypto, so you have to be careful.

 

[riberet19]

Ponzis have always been present in the crypto world and many do not stop proliferating simply close and replicate in a different place with the same owners of said ponzi, the important thing is to know how to identify them and avoid them whenever we can.

 

[Suba]

We will meet various types or models of ponzy schemes, one of which is based on social media where participants have to pay a certain amount of money, and carry out light tasks such as watching videos, clicking like buttons and subscribe buttons. This mobile application promises benefits after completing their assignments by sending proof of screenshots. This application is not clear, only relying on money from the next member.

 

[Magnus2022]

Crypto world is a breeding ground for scammers and every cut corner businesses. Since the beginning of crypto, scammers and ponzi schemes have a futile playing ground. Therefore, ponzi scheme have been in crypto space and will continue. I can't remember how many times I have been scammed through crypto.

 

[Bisolami]

There are so many Ponzi schemes online so we just need to be very careful and we should not believe in anything people who support ponzi scheme say because it is all lies

 

[Smalto]

Recently, ponzi schemes have been making a comeback and cryptocurrency is one of the mediums they like to use. They mostly target people who have no knowledge of how cryptocurrency works, and promise them huge returns on Bitcoin, or the next coin that will take over Bitcoin.

I think it's important that we educate those around is so they don't fall as the victims of such scams. The signs are usually very clear to anyone with a bit of experience, and it would also help the reputation of cryptocurrency.

This is highly recommended, because those scammers keep invention dubious means of exploiting ignorant people who know little to nothing about cryptocurrency and end up scamming them of their hard earned money, so cryptocurrency education or awareness should be

 

[Golden9]

This is highly recommended, because those scammers keep invention dubious means of exploiting ignorant people who know little to nothing about cryptocurrency and end up scamming them of their hard earned money, so cryptocurrency education or awareness should be

Even though it's important, people should also take personal responsibility. A lot of people don't read or do research before they invest money. Some scammers take advantage of this.

 

[Smalto]

I believe anyone can stay clear from cryptocurrency Ponzi scheme, only if they can sit down and make some good and intensive research, because most times those scammers do take advantage of their ignorance and exploit the hell out of them, people should always seek for quality knowledge.

 

[SHAHID987]

Online earning overall is full of scammers, its us who must unite and inform each other that which site is legit and which one is scam. Never give money to any site because it clearly indicates as the site will turn scam, except famous good reputed sites.

 

[Bisolami]

This is highly recommended, because those scammers keep invention dubious means of exploiting ignorant people who know little to nothing about cryptocurrency and end up scamming them of their hard earned money, so cryptocurrency education or awareness should be

I believe that the scammers are always aware of everything happening in the cryptocurrency world so that is when they always think of what idea they can come up with so that there proposal will look real

 

[timewo]

Yes, there are a large number of ponzi schemes they do not allow withdrawal for some investors, based on their profile, and in other cases, they do not allow those without referrals to withdraw.

 

[Bisolami]

Yes, there are a large number of ponzi schemes they do not allow withdrawal for some investors, based on their profile, and in other cases, they do not allow those without referrals to withdraw.

It is better to tell people that they will not be able to withdraw their money if they cannot provide referrals for the platform instead of not telling them at all

 

[Authenticity101]

I once fell for a ponzi scheme that promised to double my Bitcoin within 24 hours. I had not known about them then. Now that I am more aware of their scamming scheme, I never try them anymore.

 

[Carson20t]

I once fell for a ponzi scheme that promised to double my Bitcoin within 24 hours. I had not known about them then. Now that I am more aware of their scamming scheme, I never try them anymore.

PS :my dream future friend,

Very true that ponzi schemes have grown rampant and more especially in the cryptocurrency industry and they hype they create is the pseudo assurance that they can make one rich ober time like give you a 100 to 200 percent of your initial investment.That on it's own is a red flag because over 99 percent of solid businesses do notr make money in that manner.A company is subject to record profits and losses and in most cases the clause is there that if you suffer losses then the company is not liable because it makes no sense for the company to go an extra mile to composate you.The only thing they can do is explain to you the shareholders what might have caused a loss.

 

[Bisolami]

I once fell for a ponzi scheme that promised to double my Bitcoin within 24 hours. I had not known about them then. Now that I am more aware of their scamming scheme, I never try them anymore.

I cannot even count how many Ponzi schemes that I have fallen for but I don't think that can happen to me anymore since I'm being so careful not to invest my money in any nonsense

 

[Golden9]

I got a call yesterday from some scammers, and I then understood why people still fell for it. It was so real, and I could have given them the code they sent to my phone if I had not been lucky.

 

[Smalto]

That is why I always advise newbies to consider making research before investing their hard-earned money into any scheme, or seek professional advice, the internet is there for your exploration, YouTube is there, make intensive research before you invest.

 

[Bisolami]

I got a call yesterday from some scammers, and I then understood why people still fell for it. It was so real, and I could have given them the code they sent to my phone if I had not been lucky.

The truth is that scammers will never depict from the act of calling people and wanting to scam them but we should just be smart enough to recognise a scammer whenever he or she is trying to convince us