Before I joined Steemit, I have come to learn and like Blockchain and thought of investing in crypto currencies. I opened an account with Bitpanda which is a legit austrian start-up company founded by young austrian entrepreneurs. I researched a bit on ETH and LT, altcoins which seem to me to be not as volatile as Bitcoin. Of course, their prices depend on how BTC is performing.
Investing in Bitpanda is easy, you could even buy 50 Euros vouchers worth of Altcoins from any post office branch austria wide. The vouchers will be converted and recorded accordingly into your coin wallets. So far so good, I only have to wait til their market value rise-up. Mind you, BTC reached $6,415 on its high today.
Then, I saw an advertisement of Bitpetite last Sept ... they have a HYIP that gives 147% interest within a timeframe of 6 weeks. Too good to be true, right?! Of course, I googled some opinions of others who invested in Bitpetite. There are pros and cons... Nevertheless, I tried it and invested around $52 worth of ETH and chose 6 weeks... You can withdraw daily once you reach the minimum withdrawal for ETH. They had a timer where you can see the US dollar conversion of each investment. Below was my account with them...
on the left had been my investment = $ 51.2970
the middle, the earnings = $ 58.1844
on the right, the paid amount = $ 57.0909
After 4 weeks when I was able to withdraw my principal ETH investment, they started slowing down with the withdrawal.... then a FULL STOP yesterday. They closed my account and I could not access their site anymore... Tried to open the chat but they gave me a chat queue of 99 or an hour to wait or they say that my internet connection was lost and that I have to try again.
But, I´m glad I made that experience that those crypto sites that offer so much interest suck and are just one of those that practice the Ponzi scheme . They use your investment money for them to trade for themselves and when you reach your principal investment, they close your account and you won´t have access to it anymore. Hahaha, real SCAMMERS!
Lessons learned: Stay away from those sites that offer unbelievable dividends and interest rates!
Thanks for reading.