Welcome to The Cryptocurrency Novice Report for Wednesday March 21, 2018.
Word to the Wise
Every day we see new companies that are offering ways to help integrate cryptocurrencies. But sometimes these new companies are really just a scam. Today we will take a look at one such company and try to determine if it is legitimate or a scam. I present for your viewing pleasure Bit Systems Integration.
Bit Systems Integration claims to be the only major point-of-sale platform that has embraced Bitcoin as a payment option. That seems a little deceitful, since there are numerous payment platforms that accept Bitcoin.
But at least they have a phone app that lets you use Bitcoin to make purchases. But for some reason, the app does not show up in the google store and there is no link to it on Bit Systems web site. It's almost like the app doesn't exist.
Strangely enough, they offer a ridiculously high rate of interest for deposits you make to your account. I don't see how a payment processing company could afford to pay 3650% interest annually on deposits.
Or how they could afford to pay such high referral commissions.
In fact there are only a couple statements on this website that seem to be true. The first is they have only been online for three days.
And this little gem, "you will never, under not circumstances get it back" in reference to your deposit.
So there you have it, in their own words, any money you send them, you will never get back!
Bit Systems Integration is an obvious scam. They try to mascaraed as a legitimate payment processing company, but in the end they are just another site trying to lure you in with absurd claims of high interest and referral rewards. But even if you overlook the incredibly bad English throughout the site or the unsupported claims of payment apps, you can see that this is a fake company, created by real crooks. Stay away from Bit Systems Integration and never send them your Bitcoins.
Money For Nothing
Today's free money is an airdrop for 500 free SFN tokens from Safein.
To get your free tokens, just follow the link to create an account and register for the airdrop.
Safein is a secure digital identity and payment platform. This allows you to sign up for new websites and make purchases with the click of a button, without having to fill out registration pages and remember multiple passwords. You can learn more about Safein from their website https://www.safein.com/.
The Report
After the drop in cryptocurrency prices last week, the market is continuing to strengthen as the price of Bitcoin recovers most of it's losses. Here's what our favorite coins are up to now.
After moving over $9000 last night, Bitcoin has spent the day bouncing around in the $8900 to $9200 range. Currently Bitcoin is trading at $8951 up 2% in the last 24 hours.
Steem has recovered some from last week and is once again trading above $2. Currently it is trading at $2.19, up 0.1% in the last 24 hours. SBD is currently at $2.31, down 1.3% since yesterday afternoon.
On the Steemit Market, Steem is trading at 0.981 SBD. The price difference between the two coins continues to tighten.
The supply of liquid Steem continues to slowly drain away. Currently there are about 76.8 million liquid Steem. This continued decrease in the amount of liquid Steem should have a positive effect on the price of Steem over time.
Please note: I am not an investment professional. The information I present here is only my opinion. I do not encourage you to invest in any coin I mention, especially those featured in the Money for Nothing section, since most of these are not going to make it and may even be a scam. I only suggest you claim the free airdrops offered, nothing more.
Until next time...
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