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Bitcoin & Cryptocurrency Investment Scheme: Trading Heaven or Hell?

With the latest Bitcoin & Cryptocurrency schemes that are promising higher returns, not every website or company is worth trading with. This article will inform about the scam involved in dealing with cryptocurrency investments.

Higher Risk= Higher Returns

One of the investment mantras which can help us set our investment goals pretty clear.

Just when we were struggling with overpriced bills and fuel prices, Bitcoin & Cryptocurrency landed.

It sure was a hit and made headlines every day in almost every news article. and most importantly, in the trade market.

Finally, people started investing in cryptocurrency with the idea of getting higher returns.

Interestingly known fact is that the Indian Banks & RBI didn’t give it a certificate in the market.

What’s next?

The scams, yes, now the Bitcoin frauds are making news every day, with high profile individuals involved in it.

What is the Bitcoin & Cryptocurrency Investment Scam?

‘A little knowledge is a dangerous thing’

It is indeed proving to be true in case of Bitcoins; investors are not fully aware of bitcoin investment.

So, this is what adding to be as a plus point for the scammers.

Furthermore, fraudsters are taking help of Social Media and celebrities to promote their investment scheme ads.

These ads will lead the victims to trustworthy looking websites, where they can start trading in Bitcoin or other cryptocurrencies.

You will be asked to choose a scheme which is designed to lure you with higher investment returns.

Also, the targets are even asked to purchase cryptocurrency that isn’t for real.

Scammers use lame excuses of the option being the new entrant in the category.

Once a person has already invested in the scheme and paid the money, the scammers fly away.

Either your online account will be closed, or the website shuts down and the phone gets out of reach along with the people involved.

Yesss, You could not Retrieve your money or pain! It’s too late now..

But You can Still, Alert your fellow citizens with your painful experience regarding this Cryptocurrency & Bitcoin Scam.

Isn’t It?

Who knows, The next victim might be from one of your Family, Friend or a Client. Don’t let it Go Away!

Now, Its time to Report a Fraud.

Victims of Bitcoin & Cryptocurrency Investment Scheme

  • Online traders
  • Investors
  • High profiled individuals
  • Celebrities & Businessperson

Case Study: The Investment that was only high in risk, not returns

Source: Times of India

In the year 2018, BitConnect, a cryptocurrency trader based in Gujrat, shut down its offices and flew away with investors’ money.

People of Gujrat, who invested their money in this company, have lost almost Rs. 500 crore in this fraud.

The company, which was alleged of scamming people in the name of a token “BBC” issued for the investors, in 2016.

According to an FIR report, which was submitted by only one of the investors, BitConnect disappeared after an investment worth Rs. 1.14 crores.

But, if we go by what the employees have to say, the amount may even reach up to thousands of crores from different investors.

BitConnect attracted the investors by assuring them in a deal, which will double their Bitcoins in 100 days.

The BBC token, offered by BitConnect for investment, had a high price, somewhere near about USD 360 in the cryptocurrency market.


Many fresh entrants are coming in the business of cryptocurrency & Bitcoins, which puts their authenticity in question.

The government and RBI have not provided a certificate for cryptocurrency investments.

So, this adds on to the opportunity of targeting more victims.

Because of the high returns involved in the trade; people are putting their money blindly, not giving importance to the background check.

Yesss, We Defend Frauds could not Retrieve your money or pain!

But We can Still, Alert your fellow citizens with your painful experience regarding this Cryptocurrency & Bitcoin Scam.

Isn’t It?

Who knows, The next victim might be from one of your Family, Friend or a Client. Don’t let it Happen!

Now, Its time to Report a Fraud.

Bitcoin & Cryptocurrency Investment Scheme: Prevention Tips

  • Learn: It is advised to take help from well renowned financial experts while dealing in cryptocurrencies.
  • Cross Check– Before initiating the trade with any company research the background; talking to the previous traders is a good practice.
  • Ask: Always ask questions about the scheme, tenure, confinements & charges.
  • Risks Involved– Enquire about the risks associated; legitimate firms will always give the details.
  • Don’t Rush– Avoid becoming easy to convince target; do a background check, clear every doubt.
  • Options– Finally, look for legitimate and safest option probably with certification and grade in trading.
  • Secure Connect– The suspicious URL’s will never show a security certificate, never deal in these websites.
  • Similarly, avoid clicking on links that aren’t familiar.

Have you ever traded in Bitcoin or any other Cryptocurrency? Let us know in the comments or report any cryptocurrency fraud with us.

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