Many new people are flowing into crypto thanks to the Bitcoin price as of late... Here's how to spot the obvious scams that want your money by promising unbelievable returns.
1. If it's too good to be true... it is!
I Picked the most obvious example of Ponzi/Scam I could find, they don't even try to hide it.
130% after one day - sounds incredibly good, right? Yeah, it's a scam.
For example Coca Cola pays out ~4% in dividends !! per year !!
Scam.
While this is a real world example, returns in crypto are usually higher, due to the high risk factor.
2. Who is in charge of your investment?
This is yet another obvious sign. If an investment website uses Whois guard to hide the identities behind the domain - it's a scam.
Example:
- Go To: http://www.whois.com/
- Type: "q-trades.biz"
Scam.
3. Company registered in UK
This is to give the Scam pseudo legitimization.
Opening a LTD cost you like $20 in the UK, along with a cheap shell company.
Scam.
5. Check the Terms
Are there any real names? Can you google their Business Address?
In this case, they did not even bother to add a fake address or anything.
Not every scam is as obvious as this one, but always do due diligence and don't let greed take over.
If you decide to put money in something like this, treat it like a lottery ticket and do not invest more than you can afford to lose.
Your Protection is Poor! Get a VPN
