Hello all!
Today I would like to discuss whether or not a brand new website that, if you have been paying attention to any of the banner ads around bitcoin faucets lately, is a scam.
I am of course talking about Lycovest!
This basic premise of the site seems very close to Bitconnect. You deposit money or "invest" to the site, and you will be paid a certain percent interest each day for holding the balance in your account.
The percentage varies depending on amount deposited. The tiers are as follows:
- 10% Daily Interest for $1-$500
- 12% Daily Interest for $501-$1500
- 15% Daily Interest for $1501 and up.
Of course no Bitcoin Related program would be complete without a Referral system, where you can earn 5% of a referred users daily interest.
So, on to the big question. Is Lycovest a scam?
Well, to be honest it is still too early to tell. On one hand, any site that claims to give you free money should automatically throw up a red flag. But what makes this site seem slightly less "scammy" is that it does not claim to give you 200% gains after X amount of hours or per day.
In all honesty, as long as the income stream can outweigh the withdrawal stream, this concept can essentially work. But as always there is no guarantee. So if you are interested in this site, I would Highly recommend against depositing any large sums of money in to this website at risk of losing it all. However, if you have $5 or so that you won't miss? Sure why not!
I hope you find this information useful, if you have any questions please feel free to leave a comment.
And as always, Happy Earnings!