Just like 2017 crypto boom, the bad eggs have started again defacing cryptocurrency as get rich quick scheme, ponzi scheme or MLM. If you are reading this please stay away from anything relating to crypto referrals or get rich quick schemes. In the past this type of businesses has come and gone.
Do you know ZARFUND?
Do you know Bitclub Network?
Do you know DASCOIN?
Do you know Onecoin?
Do you know Bitconnect?
I can go on the list is endless
My focus in this blog post is 5 reasons why you should not invest in Ponzi Scheme parading as Cryptocurrency Business or Investment
All crypto related MLM not even ponzi schemes failed because they adopt crypto as means of payment not to talk of ponzi schemes it pays now because crypto is doing well but when it dip no new members will come so your money is stuck. Take it or leave it Cryptocurrency is volatile and this has killed many real business adopting it as means of payment without having understanding of how crypto works.
Not real time business
Most of these crypto based ponzi scheme are only robbing Peter to pay Paul. Ask yourself what are they selling and what are you buying from them
Who is behind it?
Ponzi schemes are known for one thing they lie about the people behind it because they know what they are doing. Don’t be fooled ask real time questions who is the CEO, who are the team behind it? And if you see information on their site go to social media and check the team profile one by one you will be amazed what you will find out. I’m not against cryptocurrency or MLM but please know the difference between MLM and Ponzi Schemes and also know the difference between Cryptocurrency and Get Rich Quick Scheme
It’s a gamble
You don’t have power over your money and you can’t decide what happens to your money. It is advisable not to gamble your money with ponzi schemes because it is an unreasonable risk because it pays the early guys only.
Not an investment
It is either an investment lie or referral. You may be told you have to refer only 2 but before you can make real money you may need to refer all your vaillage.
I’m not against Referral or MLM if it is built on real business process and structure but when you hear come invest in crypto currency and you were told you need to refer then its no longer investment. If you want to invest in crypto buy crypto and put it in your wallet not that you will be sending your coin to any scammer.
Do you have more reasons why people should not invest in crypto or you have any crypto ponzi schemers fooling people out there kindly use the comment box below and feel free to share this with others