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2.9

Average

TrustScore 3 out of 5

2 reviews

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Rated 1 out of 5 stars

This website is a scam

This website is a scam. It's a typical HYIP (High-Yield Investment Program) which is a Ponzi scheme, but nowadays, they can incorporate many types of schemes. Every HYIP works somewhat differently but they all share the common basics. First, they require you to pay in cyptocurrency. This is because crypto can't be tracked or reverse, so once you make that payment it's gone and you will never find it again. Second, they offer GUARANTEED high returns in a short time, typically days. Let's look at the math, 1% per day compounds to 3678% a year after compounding everyday. Now all businesses have profits and losses, so what kind of business never has any losses and is more even profitable than Apple (one of the most profitable companies in the world)? Third, they will goad you in by giving you a taste of the returns. This is done by actually giving you the returns at first when your "profit" is small. They do this so that any notion or fear of fraud or scams goes away, leading you to invest even more thinking that it's legit, which is when they will strike. Fourth, they will make it EXCESSIVELY hard to get your withdrawals, coming up with reasons after reasons. Fifth is that they will give you little to no actual information about who runs the company or its operations and licenses. They will get extremely defensive when asked about their operation or how they earn profits, often giving vague, unclear, and inconsistent answers, or no answer at all. Sixth, they will probably have "promoters" or use social media to reach out and spread the words about the program. These people will likely pressure you and contact you regularly to get you involved into the scam.

Some HYIP might incorporate other schemes such as advance-fee scam and pyramid scheme. For advance-fee, they will make up stuff for you to pay. Some of the things I've heard were "VAT", "taxes", "REFUNDABLE insurance (since when is that ever a thing?)", "withdrawal fee", etc. The pyramid scheme work by giving you a percentage for each person you bring into the operation, therefore encouraging you to recruit others into the scam.

Some final advice: Don't be fooled by fancy websites, they can be set up very quickly. Don't throw good money after the bad. Don't be afraid to just walk away and cut your losses. If you have to ask "is it a scam", it most definitely is. (Think, do you have to ask Apple if their iPhones are fake knockoffs?). Definitely do not do business with anyone who doesn't have the proper licenses or regulation. Ask for them, and check with the authorities to see if it's legit. If any business refuse to provide them to you, run. Do not be afraid to contact the authorities. Do not send cryto to anyone or anything that you don't personally know. Do thorough research before investing in anything. Nowadays, even regulated companies can be scams. Never be pressured to do anything. This advice goes for everything in life, if you're being pressured, then there's a very good, and often sinister reason for it. IF IT'S SOUNDS TOO GOOD TO BE TRUE, THEN IT IS. And finally, I cannot ever stress this enough. For the love of every God that exist and all things that are Holy, DO NOT INVEST IN ANYTHING YOU DO NOT COMPLETELY UNDERSTAND. Even if you do this to a legit company, you will be played like fiddle.

September 3, 2020
Unprompted review
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