My Entry:
Make your money work for you. Well sounded good, extensive research I decided to use some BTC to grow it further through Trading. Purchase Packages at Euro 50 in Bitcoin equivalent. They sold in Euro but only accepted BTC (Take note - why?)
Trading Structure - 20 Packages @ Euro 50 = Euro 1 000
Run Time 140 days - Return of Capital after 140 days = Euro 1 400
After building and hearing positive feedback, investing sounded good with reinvesting, a big mistake. Always withdraw interest to level of original amount put in before reinvesting.
One day arrived onsite they were trying to sell new idea, bitcoin had slowed down at this point in time. Next thing (couple of months) this site was pulled and these jerks disappeared with all the BTC.
Still under investigation, hopefully one day they will be caught and sit many years jail time, hoodwinked experienced traders.
Moral of the story: If it looks good, be extra cautious. Don't trade if you are not sure, it is high risk everywhere. Something can be made to look exceptionally professional, personal references, links to many places all gone within a second.
Very clever Bitcoin scam!
From one moment I am very sceptical to everything, what sells "packages". Packages of Ripple, Packages of Bitcoin... Sad story.
Over the last two years I now only do direct transactions, hold/invest directly no more 'investing' as such. Same with smaller crypto, only involved with a couple I do trust, so many bad apples out there!
Unfortunately the crypto world is full of scams and I think that your summarized it very well:
Thanks a lot for your entry!
Totally, and its scams that the system is supposed to one day prevent.
I would have commented even if this was not a contest to warn others to be very cautious in this space.
Not only scams that hurt one in finance, trolls that sell then hurt your reputation, sometimes you win, sometimes you don't!
Many of us endorse the cyrptocurrency we enjoy in blogging about them, free advertising for them. When/If they collapse whoever purchased on the strength of your endorsement makes you look suspect in their eyes (just saying).
Entry 16