6 signs to recognize multi-level virtual currency scams
(Baonghean.vn) - Issuing, supplying and using cryptocurrencies (virtual currencies) as a means of payment is prohibited in Vietnam. However, many subjects still use sophisticated tricks to buy or create websites related to virtual currencies, enticing investors to buy virtual currencies in a multi-level model to appropriate money. So how to recognize sophisticated "multi-level traps" from the virtual currency market?
1. Do not disclose personal information
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To avoid legal action, organizers often do not disclose personal information, or use false information. This is an easy sign to recognize. If there is no intention to deceive, why provide false information or hide personal information?
2. Avoid direct contact with the community
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Organizers avoid direct contact with the community and use anonymous methods of communication. They may provide personal information in general terms, copy some photos from the internet, assign some names but do not link to social media presences... and avoid using specific phone numbers and addresses.
3. Fixed income
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No investor or trader can predict the market 100% correctly, no matter how professional they are. Therefore, promising a fixed return is the most obvious sign of a scam.
4. High profitability
It is unrealistic to expect a return much higher than bank interest. Besides, the higher the return, the higher the risk involved.
5. Not disclosing market circulation to investors
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Investors have absolutely no idea what the money raised is used for or how the business is run. These investment groups often use the excuse that they cannot share with investors for fear of competitors finding out, in order to keep their business methods and plans secret.
Usually these scam companies will offer a simple website, not mentioning the core product, only membership levels, investment amounts and especially profits of hundreds, thousands of percent.
The more members you attract to join, the greater the profit you earn.
6. Always call on investors to find more investors
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If the profits are so "huge", why does the company always need so much capital?Why are there always more investors needed?
That is an issue that, if sober, investors will find absurd and suggest the possibility of "luring" other investors to have money to pay them./.
