Financial malpractices are on the Increase. As digital currency become more popular, so do scams. From setting up fake websites to fraudulent cloud mining activities to phishing sites the list is endless. Scammers are tricking people to invest in fake cryptocurrency exchange sites. One such company is the Cryptoearndaily. But before we look into whether this company is fake or legit, let’s first highlight the areas that will help you spot a scam site.
What Is Cryptoearn Daily?
A visit to the website does not explain how they will grow your investments. Just loads of buzzwords but with no calculations, specifications or graphs to support the supposed project. You are expected to deposit your money, sit back and earn money overnight!
Secondly, there are no faces behind the “exceptional” project. A google search on the company reveals one person associated with the company- the director.
Finally, you will not miss the text on referral activities. As expected, they offer 3 level referral commissions to entice investors yet how they intend to make such huge commissions is a mystery.
Cryptoearn Daily Red Flags
The common areas that will help you identify a Ponzi scam include the following:
Lack Of A Proper Business Model-
Does the site clearly explain how they intend to grow your coins? If it does not have calculations, graphs, and simulations explaining the project in detail, then take it with a pinch of salt.
If the company claims to run a world-changing project, the least it can do is show the faces of its success.
A Referral Link-
Typical Ponzi scams promise investors some unrealistic commissions should they refer other investors to the site. If the site offers a referral link on registration with ambitious earnings pegged to it, add it to the scam list!
Cryptoearn Daily Cryptocurrency Investing Conclusion
Don’t fall for the company’s certificate of registration posted on the site. Nor the “secure” and “https” in the site’s URL address. Scammers have found a way to display them to make the website look legit. As a bitcoin investor tread cautiously with Cryptoearndaily. It will save you from losing your hard-earned money.