There comes a time when the network marketing industry grabs a hold of particular industries and introduces forced matrixes, hype materials and bad practices.
The cryptocurrency industry is no different as bitcoin trading scams start to pop up all over the place.
There are two things which concern me. One is the fact that people are getting burnt by unknowingly opting into these programs and finding they are a scam later. Second is that people are KNOWINGLY placing individuals into these platforms to make a quick buck and withdraw profits before it crash and burns. I think the latter is worse.
Three things to recognize before joining anything:
- Interest pay out on your bitcoin capital. If it’s too high and/or at a fixed rate, be wary of this.
- Is the CEO/Founder accessible/visible? If the leader of the company is a ghost then you should probably think twice before putting your money there. Leadership and strategy are important.
- Who is promoting the company? Are they trustworthy, transparency, authentic and offering a lot of value?
Here is a video that goes into more depth on the whole bitcoin trading scam situation:
I hope you got some value from that. Make sure you do your due diligence before joining any bitcoin trading platform