BCH Savings Got Burned in a Ponzi Scheme

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Avatar for LeticiaFelize
2 years ago
Topics: Lost, Money, Dollars, Finances

Date: April 4, 2022 (Monday)

Recently, I invested my BCH savings in a platform that said to make my money grow in just a month. Supposedly I don't want to dive on these kind of platforms as I don't want to give myself hadaches in someway. But then, things didn't turned out to what I have told myself first, I got encouraged to try the said platform and just go with the flow on how things work around there.

Overview of the Scheme that Got Me Scammed

The platform I invested my money with is not a good platform afterall. It has a lot of loop holes, but the sad thing is I still allow myself to try the platform; too late to know about this fraud. Unfortunately, it's a ponzi scheme. I got lured in the platform in hopes that I will receive what the platfrom has promised by the end of the month or the given days.

What is a Ponzi Scheme?

If you're not familiar what a Ponzi scheme is, you better learn from this for you not to get lured on the same scheme in the future.

Ponzi scheme is a kind of fraud wherein the company lures people to invest an amount of money assuring that their money will get a big return after a few days or even a month. But the truth is, the money that keeps the company going is coming from the new investors and paying it to the earlier investors. The company of the scheme will also make sure that victims will believe that the money that are being returned from them are from the products or any activities in the company.

Screenshot from 50 minutes

Needless to say, what we need to do in the platform that I joined in is just login everyday without doing any effort and you will be rewarded. I invested a total amount of $60 in the platform from my BCH savings. I was astounded when it has given me $14 after signing in. What I have thought back then was I only need a few days to gain back my profit and will then start to profit.

The first two days was smooth enough. I earned a total of $8 dollars and I withdrew it in my account. I can't hide the happiness after seeing the money being reflected on my bank account. In my mind, if things will turn out to what it has promised, I'll surely earn a lot of money in the platform. But then as the next two days came, things were not running so smoothly and it's something fishy as well. The platform asks me to invest more money like $40 to withdraw the maintaining balance in my wallet. From that moment, I knew that it's the end of my journey in that platform. I have tried and that's more than enough to learn lessons from that experience.

I could say that it was a too good to be true platform. If it continues to what it has promised, people who joined in that platform would surely get rich. They will be rich enough that one would no longer 8 hours a day to make a decent amount of renumeration. But then the reality is, we need to make an effort and to learn a lot of things in order to earn money. Earning through easy money will not yield into something great, it's volatile enough that it will make one's emotions go up and down as well.

Invest What You Can Afford to Lose

The platform is already fishy enough, but I still dive into it; that's my mistake. However, I only invest what I can afford to lose. Although I have converted money from my BCH wallet to fiat, I already told myself that if that money will grow, it's a good thing, if now, then I have to accept the reality of it. I have prepared myself on the possibility of losing. And it is what it is, I got scammed. Although I felt sad about it at first, I just accepted the fact that I lose my money. I'll just bring the lessons I have gained from that experience.

Lessons Learned

You see, in life, it's not all about winnings. There will be times when we lose a lot of times. Aside from that, losing money is truly a big deal especially when you work hard to earn it. No matter how small or big it can be, the thought of losing money will break anyone's heart and will stay in one's mind even for a long time. Losing money can make one's day mundane and can lose one's motivation to do any task at work.

However, losing money may sound depressing, but it can be a blessing in disguise. There are a lot of lessons that can be extracted from losing money in a snap.

Here are some of the lessons from losing money:

Becoming Wise Enough in Handling Finances

Losing money can make anyone to be wise enough in handling finances especially on releasing money on certain things. It's not easy to lose money though so every decision on money matters need to be thought of before diving on something.

Strengthen the Ability in Handling Problems

Losing money from a scam is truly heartbreaking, but it can also help in molding our emotions better. It can also helo strengtgen our ability in handling problems. In a nutshell, we're becoming wise enough in handling any problems that life has been showering us every now and then. It helps us to be stronger and stay firm whatever storm that goes our way.

Indeed, my experience of being scammed is so sad, but I don't want to cry over spilled milk. What I can do is accept the reality that I was once lured in a fraud, and never get hooked on that kind of scheme again. I hope all of you will never get scammed on the scheme that I've been lured with. Never get scammed on easy money again.


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Avatar for LeticiaFelize
2 years ago
Topics: Lost, Money, Dollars, Finances

Comments

Offers like that are hard to refuse so I understand if you took the bait :) Lessons learned, my friend. It happened to me too and I am now being careful when it comes to stuff like that.

$ 0.02
2 years ago

Thankss for your deeper understanding towards my situation my friend. It's never easy indeed, but atleast I learned my lesson.

$ 0.00
2 years ago

How can we refuse the offer especially the chance to earn more, right? But yeah, lessons learned :)

$ 0.00
2 years ago

Many schemes happen like this because I have also experienced being cheated several times before I even knew crypto. I had fallen into the same thing but used fiat money and also entered holes with digital currencies several times. it was very promising at first they returned the money slowly like the initial rule but when everything went with a few days oddities began to appear with login errors, repair sites etc. it was all a mode for fraud. be careful with things like this because in truth they will never disappear from the face of the earth.

$ 0.03
2 years ago

So sorry to hear that you fell on the same fraud as well my friend. I don't know why, they're just so good in luring people on the platform. I hope people will realize that they need to stay out from this kind of platform or else they'll surely regret like me.

$ 0.00
2 years ago

Sorry to hear about your experience. But the good thing is that you've learned from the experience, even though it was an expensive one. You win some you lose some. That is life

$ 0.02
2 years ago

I agree my friend. Life is not all about winnings so I'll take this experience as something valuable as I learned valuable lessons from it as well.

$ 0.00
2 years ago

I am sorry to hear about that though I am still hoping that you can still got your money back. The lesson here is that if it really sounds too good to be true we have to doubt it, because there is no such thing as easy money, we need to work harder in order to achieve it.

$ 0.02
2 years ago

Yes my friend yhanne, I'll be more careful next time. I already know that something's fishy around that platform already, but my mistake is I still dive into it.

$ 0.00
2 years ago

Sad to hear but provides enough lesson for us all. Let's all be careful next time.

$ 0.01
2 years ago

I agree, the lesson that I got from that experience is truly meaningful. I'll be careful next time. Anyway, thanjss for passing by

$ 0.00
2 years ago

I feel sorry for you sis but be mindful always especially if money is involve. If it is too good to be true, then be alarmed.

$ 0.01
2 years ago

Yes my friend, I already learned my lesson. I will not dive to this kind of fraud again. It's not easy to lose money.

$ 0.00
2 years ago

yes, specially hard -earned money

$ 0.00
2 years ago

You are right friend losing money is really depressing especially if it is what we have worked so hard for from our honorable work.

$ 0.01
2 years ago

Indeed my friend jen. I hope you'll not be able to land on this kind of scams as it's truly heartbreaking.

$ 0.00
2 years ago

There are alot of schemes not, at first it will went well and as days months go by the problem will start until it was and you did even get your initial investment. i 've experience it how many times and I learned my lesson

$ 0.02
2 years ago

I agree my friend. Even when the platform gets more fishy as the days went by, they will still reassure you that your money will be returned. They will give you false hope.

$ 0.00
2 years ago