After the acceleration of bitcoin in crypto market there are many sites which were launched with fancy and tempting offers from free BTC to doublers.
Most of the sites ends as scam. Basically there are (3) kinds of sites out in the market.
- PTC Sites and faucet sites offering free Bitcoin.
- Matrix, Cyclers and Miners.
- High-Yield Investment Sites aka HYIP and Coin Doublers.
I) PTC Sites and faucet sites offering free Bitcoin.
In the first category, there are many sites offering free BTC for doing small tasks like solving captchas, viewing ads etc., Though most sites are genuine, the amount of BTC paying to the subscriber is too low. Thus, the subscriber who works with most enthusiasm initially, realizes that this is not going to pay much or not worth his time and drops off. Now, the site has benefitted in two ways. A) They got traffic into the site B) They don’t have to pay to the subscriber. Moreover there would be referral programs so that more new fish comes into trap.
II) Matrix, Cyclers and Miners.
There are many sites out there which launched with fancy and un-missable BTC offers under the guise of matrix programs and cyclers. The joining fee in these programs varies from 0.001 to 0.1. Now, the members who join in these ponzi schemes should realize that at some point of time the matrix or the cycling is going to stop due to lack of incoming/ newly joining members. Unless the admins of the said matrix program are highly dedicated and honest (who are rare to find!) the matrix or cycle is going to stop invariably. The only way the members can earn is that the members who join initially i.e., in first 100 to 300 can get their investment plus some profit back. Rest of them would lose their hard earned BTC. For the part of Mining programs, there are very few of those, which sustained in the market for long period and paying to its members honestly (Genesis is for example). Most of the sites end in scam.
III) High-Yield Investment Sites aka HYIP and Coin Doublers.
This is the most dangerous of all the three categories above. In this category, the sites put out some fancy offers like they will pay interest of 3% to 10% of principle amount for 3 months to life long. Sites initially pay its investors as they said. The beginners, who won’t trust the site, invest very low like 0.001 and they test whether they are getting their interest of 0.001. After a period of time when they receive more than they invested, under temptation they invest large amount to become rich. And after some time, suddenly either the site shuts down or the gradually the high paying account gets blocked. Either way you are going to lose your money. It’s the same case with coin doubling sites.
Most of the site in above categories show you middle finger. So the investors who are willing or going to invest in such sites should rethink about such investment.
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PS: I am not against to all the sites in above categories, there are some genuinely paying sites where you need to work real hard or invest and do some referring work and No, I am not going to discuss them…. ;).
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Great post! Thank you for the info. Upvoted and followed you.
Thank you and followed you back... :)
This post has received a sweet gift of Dank Amps in the flavor of 3.57 % upvote from @lovejuice thanks to: @sasiyedavalli. Vote for Aggroed!
Haha thanks for this post! @sasiyedavalli
@awarenessraiser! Thanks for reading... :)
you think bitconnect is a Ponzi???!!
From what I can see being involved in bitconnect, it is a legit site with a pyramid scheme-like referral program which really freaks people out and looks like a scam. All I know is they're paying me more interest than I expected to get and I can withdraw it at any time. So far so good, but so good it is actually a bit scary and I don't want to invest more because of that.
I have absolutely no idea of BCC! .... Srry.. :)