ZoneBitcoin EditorialEven before the massive appearance of many cloud mining scam sites, bitcoin among the most skeptical people was already accused of serving money laundering and mafiosi and drug dealers. It was just a prejudice and today, some people, who play on the type schemes Ponzi are not serving the cause of Bitcoin by launching real cloud mining scams which are all the rage right now.
Very often, bitcoin scam sites do this in the form of cloud mining. This article will help you see things more clearly - and avoid scam sites.
Beware of too high yields
Yes, as we always say, what seems too good is often wrong. It's exactly the same thing with these bitcoin scam sites, which are rightly called Hypes (or HYIP).
These are overly attractive returns that cannot be justified in any way from a financial point of view. If you are offered 10% in 10 days, don't dream too much and leave this Ponzi site straight away. Clearly, this is a bitcoin scam.
Just like scams with videos that tell you that you can earn up to 1000 euros per day on Uniswap…Obviously it’s a scam..
Ponzi Scheme scams in cloud mining scams
Ponzi? Yes the famous crook Charles Ponzi who was one of the first smart guys to trick people into a pyramid scheme. In other words, each investor pays the astronomical rents of the previous investor. Once a lot of people want to recover their bets and their winnings at the same time… well, there’s nothing left! We also know Madoff in the same genre, but this will, if you wish, be the subject of the next article concerning the portrait of these great high-level crooks.
The first thing to remember about bitcoin scam sites is simply common sense. We are not in a world of care bears, and big, incredible gains don't exist. It can only be a bitcoin scam site.
Often they are this very professional looking at first glance:
As you can see, everything looks good. The design is neat, the company certificates are shown and the statutes can be downloaded in PDF. Eh yes! HYIP scams are very strong in showing professional quality.
They even show fake photos (of actors in reality) of their teams etc. Be wary of everything, even if it looks solid. Believe us, they are very good at handling and know how to show their credentials.
Only trust the most re-known sites
The first rule that you must apply is that of the notoriety of a site. Trust, and especially to start with, sites that you already know, which have several years of experience and whose payments have been approved by the community.
You are sure that this is not a scam. We can cite for example Genesis Mining.
So, the first instinct would be to look at the age of the site. The scam sites last between 6 months and 1 year before packing up and fleeing to the Bahamas to take advantage of the victims' money. Take a quick look at the site's Whois to find out the age of the site's domain.
You also have sites that will help you see things more clearly, such as Badbitcoin which lists cloud mining scam sites.
Read other related articles:
-> Should you still do cloud mining?
—> The DeFi scams: how to avoid them
—> Understand the rug Sweater and how to recognize them
—->Understand the principle of “escrows” on sites
If you're looking for big returns, try to curb your quick cravings and focus on well-known cloud mining sites. Sure, they don't offer sky-high returns, but at least your money is well placed. This way, you get bitcoins and other cryptocurrencies every day in a safe and sustainable way.
