Scammers have been around for as long as we can remember that there are people who are trying to reach that dreams of being ‘rich’ as quick as possible. They will do whatever it takes to get there at the expense of other people. Well this is pretty common than you think, Some will say that everyone does it one way or another like how the rich makes money by selling overpriced goods, services or whatever making people feel they are being taken advantaged of.
Such is a question of morality that triggers an endless debate of who is right or wrong. For the sake of this article, I’m pertaining to all the quick-rich schemes that we’re seeing over the Internet and how digital currency make things easier for the scammers.
Back in the day, money transfer was quite a hassle … and Ponzi schemes were fabricated to dupe people into giving their money.
Digital currency simply provides an easier way of transferring money anonymously and that brought in a whole lot of scammers. Everyday there are countless number of investment programs online especially in social media, and how many of them do you think is for real? Close to none.
Although I’m pretty sure there are still others out there that actually plan on doing something good, I would say 99% just don’t.
So how to determine which one is real from the hundreds of fake ones?
The only way to fight scammers is basically just by being smart. A guaranteed high earnings over a short period of time is definitely a red flag.
What are the common investment sites out there and what to watch out for?
1) Bitcoin mining – We see this a lot but if you know how much profit is there in actual bitcoin mining you know that quick profit is anything but true.
2) HYIP programs – These are High-Yield Investment Programs that promise to double your money in just a few days or weeks. Most people hate the banks for charging high interest off their consumers’ loans, but do you know that they only charge 15-25% per year and yet we consider them high already?
This means if you’re on the other end of the fence and you’re the one charging the interest and making profit, you only earn that much- so it does not make sense what the High-yield investments online are saying, of being capable of providing doubling your money in a few days/weeks time. It does not work.
These programs live off by recruiting new investors, taking their money to pay the old investors. And that is why they’re not for long term, they only last until there are new investors coming in or at least the funds they’re getting from the new investors are enough to pay off the old ones. Pair this up with high referral bonus to make the program last longer, so your users will be pumped up to recruit new investors.
3) Trading programs – Forex, Stock Market and Cryptocurrency trading are gaining some popularity as some brokerage firms are now accepting cryptocurrency for their cash-in. Well they are legit businesses but just be careful as some may take advantage of their legal image. It pays to do your research well.
4) Free schemes – Scammers notice that people are more careful nowadays so they’re now using ‘Free’ methods. They will post their proof of payment or at least their pioneers will do – saying that “no investment required”.
Wow, Christmas do come early sometimes! But do you really think people will just give away thousands of dollars for free? The recruiters will post their ‘proof’ of payout to gather comments from interested parties like.. something like ‘How?’, ‘Info’, and many more. Why are they hiding the details? Interested users will get instructions on how to earn for free like posting screenshots of what seem like actual profit, recruiting more users or upgrading your account from free to paid to unlock higher rewards. Basically they’re just luring people in and making it seem free at first but at the end of it all, its either you have to spend or recruit people who will be willing to spend money under your side of the tree.
So out of these, where does Shareshub belong?
First, Shareshub is an actual cryptocurrency with an actual 3rd party trading. Second, it is only offering a guaranteed low profit at 1-2% per month which is something that an actual business can maintain. And lastly, we don’t offer high referral fees. Although high referral fees equates to new users, providing quite a high reward may result to unsustainable business in the long run. Don’t get me wrong though, we are offering referral rewards but it is a mere 1% of the referred investment. Shareshub guarantees its users of an increasing Shareshub price though a small but steady one, and that is because of the Buy-back program that we will be offering. This simply allows a Shareshub holder to sell his/her coins back to us at the same price as that of the ICO or even a little higher more.
Hope this article ends up helping more people in the future.