BCH Savings Got Burned in a Ponzi Scheme
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.
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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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.