Thank you for the overwhelming positive feedback on this article — we here at Coinhako are glad we could help inform readers on the dangers of ponzi schemes such as OneCoin and BitKingdom!
Keep spreading the word; it will really help to take these scam companies down! We should educate ourselves and take the bitkingdom bitcoin values precautions to avoid being scammed.
This time, we breakdown 3 recent scams in Singapore and Malaysia: I will introduce and dissect bitkingdom bitcoin values OneCoin and BitKingdom scams. It is actually a pyramid scheme and you are taking money from new users. BitKingdom has targeted users in Malaysia and Vietnam.
In return, when you need money, people will give you bitcoin with no obligation to repay. The business model behind this is is simple — it is a Pyramid scheme. These newer users are also called downlinks. The continuation of such a scam is entirely dependent on getting more downlinks, so that the scammers can promise money from the new users to the old ones. The team bitkingdom bitcoin values made up of career scammers who have effectively manipulated people into giving up their money. OneCoin claims to be a cryptocurrency.
The only places online which claims OneCoin is real are OneCoin-affiliated websites. The only exchange that lists OneCoin, xcoinx. Creation of new OneCoins are completely centralized by the company. The attraction to potential users is the high yield offered by OneCoin. You can then buy one of their packages, which allows you to earn commissions from bitkingdom bitcoin values.
By promoting their products to your friends, you get to earn a percentage of revenue from each product bought by your friends. When your friends start promoting bitkingdom bitcoin values packages to their friends, you then get a percentage of revenue from sales downline from you.
The reality is that these packages do not add value to your money or your knowledge. This is purely a pyramid scheme. The price of OneCoin is set by the company, and only increases over time. This does not make any economic sense! Bitkingdom bitcoin values market-traded cryptocurrencies fluctuate in price throughout the day. OneCoin users have also found difficulty withdrawing their money from their accounts, as they are restricted to withdrawing small amounts at a time and pay withdrawal fees each time.
OneCoin is not a cryptocurrency. There will be a day when it collapses. It may be tomorrow, or it might be a few years from now. Cryptocurrency prices can be very volatile and that is completely to be expected, and returns to investors and traders vary. Pyramid schemes attract attention with their boasting of a low-risk, high-return bitkingdom bitcoin values portfolio.
In the real world, low-risk, high return does not exist, and you are taking more risk than you can stomach. Pyramid schemes, on the other hand, will not survive without them. That is why there is so much advertising and spreading of misinformation by these schemes.
Legitimate businesses have high manpower costs making sure that they are providing a real service to people, and do not have such high marketing budgets as pyramid bitkingdom bitcoin values. Do not invest in BitKingdom or OneCoin, and tell your friends and family not to invest. You may lose some from withdrawing, but losing some money is better than losing all your money. Understand how they work and what features they have. This is a phishing and an impersonation scam.
The scammer pretends to be a customer service representative from bitkingdom bitcoin values courier company such bitkingdom bitcoin values DHL to phish for your personal information. This makes it more likely that you will trust the scammers.
They will ask you for money to resolve the problem. If you believe what they say, then you would have lost your money. Do not give strangers any personal information, and definitely do not send them money. Bitkingdom bitcoin values your family members, especially the elderly, about this scam. Teach them not to pick up calls from unfamiliar numbers, and talk to you before sending large sums of money.
Armed with this information, we hope that you will only accept information from trustworthy sources and exercise judgement before parting with your hard-earned money. If you have bitkingdom bitcoin values to these schemes, we wish you all the best in retrieving your money, and hope that you will not lose money to these bitkingdom bitcoin values. CoinHako is not affiliated with any of such schemes.
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I was going to join bitkingdom until I read this. Very grateful u saved my days! Leave a Reply Cancel reply Your email address will not be published.
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